Note 3 - Properties, Plants, Equipment and Mineral Interests, and Lease Commitments

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 3: Properties, Plants, Equipment and Mineral Interests, and Lease Commitments

Properties, Plants, Equipment and Mineral Interests

Our major components of properties, plants, equipment, and mineral interests are (in thousands):

	December 31,
	2015		2014
Mining properties, including asset retirement obligations	$	372,935	$	336,962
Development costs		291,780		250,340
Plants and equipment		738,065		698,100
Land		21,362		15,799
Mineral interests		907,791		929,844
Construction in progress		295,155		224,216
		2,627,088		2,455,261
Less accumulated depreciation, depletion and amortization		730,277		623,697
Net carrying value	$	1,896,811	$	1,831,564

During 2015, we incurred total capital expenditures, excluding non-cash items for additions acquired under capital leases and adjustments for asset retirement obligations, capitalized interest, and deferred taxes, of approximately $137.4 million. The additions included $53.3 million at the Lucky Friday unit, $43.4 million at the Greens Creek unit, $35.5 million at the Casa Berardi unit, and $3.4 million at the San Sebastian unit.

Properties, plants, equipment, and mineral interests includes the portion of interest costs incurred on our debt capitalized as a part of the cost of constructing certain qualifying assets. For the years ended December 31, 2015 and 2014, capitalized interest totaled $13.5 million and $11.8 million, respectively.

Capital Leases

We periodically enter into lease agreements, primarily for equipment at our Greens Creek, Lucky Friday and Casa Berardi units, which we have determined to be capital leases.  As of December 31, 2015 and 2014, we have recorded $39.9 million and $39.5 million, respectively, for the gross amount of assets acquired under the capital leases and $24.4 million and $15.3 million, respectively, in accumulated depreciation on those assets, classified as plants and equipment in Properties, plants, equipment and mineral interests.  See Note 6 for information on future obligations related to our capital leases.

Operating Leases

We enter into operating leases during the normal course of business. During the years ended December 31, 2015, 2014 and 2013, we incurred expenses of $3.8 million, $3.5 million and $3.1 million, respectively, for these leases. At December 31, 2015, future obligations under our non-cancelable operating leases were as follows (in thousands):

Year ending December 31,
2016	$	5,046
2017		3,035
2018		1,049
2019		1,043
2020		1,035
Thereafter		1,196
Total	$	12,404