Note 3 - Income Taxes

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Income Tax Disclosure [Text Block]

Note 3.   Income and Mining Taxes

Major components of our income and mining tax (provision) benefit for the three months ended March 31, 2021 and 2020 are as follows (in thousands):

	Three Months Ended
	March 31,
	2021			2020
Current:
Domestic	$	(2,277	)	$	(732	)
Foreign		(2,286	)		(2,069	)
Total current income and mining tax provision		(4,563	)		(2,801	)
Deferred:
Domestic		319			1,250
Foreign		(390	)		2,613
Total deferred income and mining tax (provision) benefit		(71	)		3,863
Total income and mining tax (provision) benefit	$	(4,634	)	$	1,062

The income and mining tax (provision) benefit for the three months ended March 31, 2021 and 2020 varies from the amounts that would have resulted from applying the statutory tax rates to pre-tax income due primarily to the impact of taxation in foreign jurisdictions and reversal of the valuation allowance portion related to net operating loss utilization.

Effective January 1, 2021, we prospectively reclassified certain income based state and provincial taxes from Cost of Sales and other direct production costs to Income and mining tax (provision) benefit. The income and mining tax provision for the three months ended March 31, 2021 increased by $3.1 million due to the reclassification.