XML 47 R30.htm IDEA: XBRL DOCUMENT v3.19.2
Note 14 - Guarantor Subsidiaries (Tables)
6 Months Ended
Jun. 30, 2019
Notes Tables  
Condensed Balance Sheet [Table Text Block]
   

As of June 30, 2019

 
   

Parent

   

Guarantors

   

Non-Guarantors

   

Eliminations

   

Consolidated

 
   

(in thousands)

 

Assets

                                       

Cash and cash equivalents

  $ 14     $ 2,107     $ 7,313     $ —     $ 9,434  

Other current assets

    12,108       62,222       61,728       (74

)

    135,984  

Properties, plants, equipment and mineral interests, net

    1,913       1,785,072       698,884       —       2,485,869  

Intercompany receivable (payable)

    152,061       (364,163

)

    (199,609

)

    411,711       —  

Investments in subsidiaries

    1,506,079       —       —       (1,506,079

)

    —  

Other non-current assets

    286,460       22,798       (117,873

)

    (151,959

)

    39,426  

Total assets

  $ 1,958,635     $ 1,508,036     $ 450,443     $ (1,246,401

)

  $ 2,670,713  

Liabilities and Stockholders' Equity

                                       

Current liabilities

  $ (314,607

)

  $ 122,102     $ 44,741     $ 265,617     $ 117,853  

Long-term debt

    586,667       18,226       2,197       —       607,090  

Non-current portion of accrued reclamation

    —       89,209       14,573       —       103,782  

Non-current deferred tax liability

    —       66,781       87,496       (5,939

)

    148,338  

Other non-current liabilities

    47,347       6,116       959       —       54,422  

Stockholders' equity

    1,639,228       1,205,602       300,477       (1,506,079

)

    1,639,228  

Total liabilities and stockholders' equity

  $ 1,958,635     $ 1,508,036     $ 450,443     $ (1,246,401

)

  $ 2,670,713  

 

   

As of December 31, 2018

 
   

Parent

   

Guarantors

   

Non-Guarantors

   

Eliminations

   

Consolidated

 
   

(in thousands)

 

Assets

                                       

Cash and cash equivalents

  $ 6,265     $ 8,661     $ 12,463     $ —     $ 27,389  

Other current assets

    6,388       69,574       60,868       (69

)

    136,761  

Properties, plants, equipment and mineral interests, net

    1,913       1,795,994       722,097       —       2,520,004  

Intercompany receivable (payable)

    171,905       (222,815

)

    (171,834

)

    222,744       —  

Investments in subsidiaries

    1,577,564       —       —       (1,577,564

)

    —  

Other non-current assets

    276,641       9,030       (122,969

)

    (142,912

)

    19,790  

Total assets

  $ 2,040,676     $ 1,660,444     $ 500,625     $ (1,497,801

)

  $ 2,703,944  

Liabilities and Stockholders' Equity

                                       

Current liabilities

  $ (234,133

)

  $ 118,863     $ 45,922     $ 205,542     $ 136,194  

Long-term debt

    532,799       141,870       1,989       (135,988

)

    540,670  

Non-current portion of accrued reclamation

    —       94,602       10,377       —       104,979  

Non-current deferred tax liability

    —       64,639       98,689       10,209       173,537  

Other non-current liabilities

    51,047       5,659       895       —       57,601  

Stockholders' equity

    1,690,963       1,234,811       342,753       (1,577,564

)

    1,690,963  

Total liabilities and stockholders' equity

  $ 2,040,676     $ 1,660,444     $ 500,625     $ (1,497,801

)

  $ 2,703,944  
Condensed Income Statement [Table Text Block]
   

Three Months Ended June 30, 2019

 
   

Parent

   

Guarantors

   

Non-Guarantors

   

Eliminations

   

Consolidated

 
   

(in thousands)

 

Revenues

  $ 1,292     $ 76,213     $ 56,667     $ —     $ 134,172  

Cost of sales

    (257

)

    (58,994

)

    (45,687

)

    —       (104,938

)

Depreciation, depletion, amortization

    —       (29,068

)

    (20,409

)

    —       (49,477

)

General and administrative

    (4,766

)

    (3,738

)

    (414

)

    —       (8,918

)

Exploration and pre-development

    (3

)

    (2,097

)

    (3,044

)

    —       (5,144

)

Research and development

    —       (153

)

    (5

)

    —       (158

)

Gain on derivative contracts

    3,798       —       —       —       3,798  

Acquisition costs

    (163

)

    (81

)

    (153

)

    —       (397

)

Equity in earnings of subsidiaries

    (48,370

)

    —       —       48,370       —  

Other expense

    1,939       (6,091

)

    (20,058

)

    (2,439

)

    (26,649

)

Income (loss) before income taxes

    (46,530

)

    (24,009

)

    (33,103

)

    45,931       (57,711

)

(Provision) benefit from income taxes

    (2

)

    (2,859

)

    11,601       2,439       11,179  

Net income (loss)

    (46,532

)

    (26,868

)

    (21,502

)

    48,370       (46,532

)

Preferred stock dividends

    (138

)

    —       —       —       (138

)

Income (loss) applicable to common stockholders

    (46,670

)

    (26,868

)

    (21,502

)

    48,370       (46,670

)

Net income (loss)

    (46,532

)

    (26,868

)

    (21,502

)

    48,370       (46,532

)

Changes in comprehensive income (loss)

    3,540       —       —       —       3,540  

Comprehensive income (loss)

  $ (42,992

)

  $ (26,868

)

  $ (21,502

)

  $ 48,370     $ (42,992

)

 

   

Six Months Ended June 30, 2019

 
   

Parent

   

Guarantors

   

Non-Guarantors

   

Eliminations

   

Consolidated

 
   

(in thousands)

 

Revenues

  $ (1,185

)

  $ 178,645     $ 109,329     $ —     $ 286,789  

Cost of sales

    (718

)

    (125,863

)

    (88,743

)

    —       (215,324

)

Depreciation, depletion, amortization

    —       (49,940

)

    (38,324

)

    —       (88,264

)

General and administrative

    (9,159

)

    (8,849

)

    (869

)

    —       (18,877

)

Exploration and pre-development

    (19

)

    (3,641

)

    (6,742

)

    —       (10,402

)

Research and development

    —       (506

)

    (55

)

    —       (561

)

Loss on derivative contracts

    1,999       —       —       —       1,999  

Acquisition costs

    (121

)

    (136

)

    (153

)

    —       (410

)

Equity in earnings of subsidiaries

    (70,803

)

    —       —       70,803       —  

Other expense

    7,943       (11,821

)

    (32,700

)

    (8,832

)

    (45,410

)

Income (loss) before income taxes

    (72,063

)

    (22,111

)

    (58,257

)

    61,971       (90,460

)

(Provision) benefit from income taxes

    (2

)

    (6,775

)

    16,340       8,832       18,395  

Net income (loss)

    (72,065

)

    (28,886

)

    (41,917

)

    70,803       (72,065

)

Preferred stock dividends

    (276

)

    —       —       —       (276

)

Income (loss) applicable to common stockholders

    (72,341

)

    (28,886

)

    (41,917

)

    70,803       (72,341

)

Net income (loss)

    (72,065

)

    (28,886

)

    (41,917

)

    70,803       (72,065

)

Changes in comprehensive income (loss)

    7,799       —       —       —       7,799  

Comprehensive income (loss)

  $ (64,266

)

  $ (28,886

)

  $ (41,917

)

  $ 70,803     $ (64,266

)

 

   

Three Months Ended June 30, 2018

 
   

Parent

   

Guarantors

   

Non-Guarantors

   

Eliminations

   

Consolidated

 
   

(in thousands)

 

Revenues

  $ 2,697     $ 75,197     $ 69,365     $ —     $ 147,259  

Cost of sales

    (73

)

    (37,489

)

    (42,878

)

    —       (80,440

)

Depreciation, depletion, amortization

    —       (11,996

)

    (19,821

)

    —       (31,817

)

General and administrative

    (4,615

)

    (4,602

)

    (570

)

    —       (9,787

)

Exploration and pre-development

    (72

)

    (3,064

)

    (6,117

)

    —       (9,253

)

Research and development

    —       (1,579

)

    (758

)

    —       (2,337

)

Gain on derivative contracts

    16,804       —       —       —       16,804  

Acquisition costs

    (940

)

    (68

)

    (2

)

    —       (1,010

)

Foreign exchange gain (loss)

    (5,731

)

    (74

)

    8,281       —       2,476  

Suspension costs

    —       (6,801

)

    —       —       (6,801

)

Equity in earnings of subsidiaries

    5,745       —       —       (5,745

)

    —  

Other (expense) income

    (1,741

)

    (1,616

)

    (5,522

)

    (3,714

)

    (12,593

)

Income (loss) before income taxes

    12,074       7,908       1,978       (9,459

)

    12,501  

(Provision) benefit from income taxes

    —       (3,715

)

    (426

)

    3,714       (427

)

Net income (loss)

    12,074       4,193       1,552       (5,745

)

    12,074  

Preferred stock dividends

    (138

)

    —       —       —       (138

)

Income (loss) applicable to common stockholders

    11,936       4,193       1,552       (5,745

)

    11,936  

Net income (loss)

    12,074       4,193       1,552       (5,745

)

    12,074  

Changes in comprehensive income (loss)

    (5,162

)

    —       —       —       (5,162

)

Comprehensive income (loss)

  $ 6,912     $ 4,193     $ 1,552     $ (5,745

)

  $ 6,912  

 

   

Six Months Ended June 30, 2018

 
   

Parent

   

Guarantors

   

Non-Guarantors

   

Eliminations

   

Consolidated

 
   

(in thousands)

 

Revenues

  $ 3,312     $ 145,408     $ 138,248     $ —     $ 286,968  

Cost of sales

    402       (72,190

)

    (81,521

)

    —       (153,309

)

Depreciation, depletion, amortization

    —       (23,256

)

    (36,615

)

    —       (59,871

)

General and administrative

    (8,448

)

    (8,050

)

    (1,024

)

    —       (17,522

)

Exploration and pre-development

    (127

)

    (5,003

)

    (12,488

)

    —       (17,618

)

Research and development

    —       (2,061

)

    (1,712

)

    —       (3,773

)

Loss on derivative contracts

    20,811       —       —       —       20,811  

Acquisition costs

    (3,300

)

    (68

)

    (149

)

    —       (3,517

)

Foreign exchange gain (loss)

    (14,435

)

    (74

)

    19,577       —       5,068  

Suspension costs

    —       (11,818

)

    —       —       (11,818

)

Equity in earnings of subsidiaries

    23,513       —       —       (23,513

)

    —  

Other (expense) income

    (1,414

)

    (3,393

)

    (9,901

)

    (9,202

)

    (23,910

)

Income (loss) before income taxes

    20,314       19,495       14,415       (32,715

)

    21,509  

(Provision) benefit from income taxes

    —       (9,203

)

    (1,194

)

    9,202       (1,195

)

Net income (loss)

    20,314       10,292       13,221       (23,513

)

    20,314  

Preferred stock dividends

    (276

)

    —       —       —       (276

)

Income (loss) applicable to common stockholders

    20,038       10,292       13,221       (23,513

)

    20,038  

Net income (loss)

    20,314       10,292       13,221       (23,513

)

    20,314  

Changes in comprehensive income (loss)

    (7,267

)

    —       38       (38

)

    (7,267

)

Comprehensive income (loss)

  $ 13,048     $ 10,292     $ 13,259     $ (23,551

)

  $ 13,048  
Condensed Cash Flow Statement [Table Text Block]
   

Six Months Ended June 30, 2019

 
   

Parent

   

Guarantors

   

Non-Guarantors

   

Eliminations

   

Consolidated

 
   

(in thousands)

 

Cash flows from operating activities

  $ (168,393

)

  $ 2,714     $ 12,414     $ 137,550     $ 8,713  

Cash flows from investing activities:

                                       

Additions to properties, plants, and equipment

    —       (52,144

)

    (19,101

)

          (71,245

)

Other investing activities, net

    71,485       17       (99

)

    (71,485

)

    (82

)

Cash flows from financing activities:

                                       

Dividends paid to stockholders

    (2,706

)

    —       —             (2,706

)

Issuance of debt

    170,000       —       —             170,000  

Payments on debt

    (118,000

)

    (2,475

)

    (902

)

          (121,377

)

Other financing activity

    41,363       20,906       2,106       (66,065

)

    (1,690

)

Effect of exchange rate changes on cash

    —       —       432             432  

Changes in cash, cash equivalents and restricted cash and cash equivalents

    (6,251

)

    (6,554

)

    (5,150

)

    —       (17,955

)

Beginning cash, cash equivalents and restricted cash and cash equivalents

    6,265       9,686       12,463             28,414  

Ending cash, cash equivalents and restricted cash and cash equivalents

  $ 14     $ 3,132     $ 7,313     $ —     $ 10,459  

 

 

   

Six Months Ended June 30, 2018

 
   

Parent

   

Guarantors

   

Non-Guarantors

   

Eliminations

   

Consolidated

 
   

(in thousands)

 

Cash flows from operating activities

  $ 27,981     $ 60,805     $ 2,166     $ (43,934

)

  $ 47,018  

Cash flows from investing activities:

                                       

Additions to properties, plants, and equipment

    —       (25,454

)

    (17,850

)

    —       (43,304

)

Other investing activities, net

    6,294       44       420       21,359       28,117  

Cash flows from financing activities:

                                       

Dividends paid to stockholders

    (2,276

)

    —       —       —       (2,276

)

Borrowings on debt

    31,024       —       —       —       31,024  

Payments on debt

    —       (1,393

)

    (2,369

)

    —       (3,762

)

Other financing activity

    (3,544

)

    (40,658

)

    18,930       22,575       (2,697

)

Effect of exchange rate changes on cash

    —       —       (532

)

    —       (532

)

Changes in cash, cash equivalents and restricted cash and cash equivalents

    59,479       (6,656

)

    765       —       53,588  

Beginning cash, cash equivalents and restricted cash and cash equivalents

    103,878       32,048       51,213       —       187,139  

Ending cash, cash equivalents and restricted cash and cash equivalents

  $ 163,357     $ 25,392     $ 51,978     $ —     $ 240,727