Note 4 - Income and Mining Taxes

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Income Tax Disclosure [Text Block]

Note 4.   Income and Mining Taxes

Major components of our income and mining tax benefit (provision) for the three and nine months ended September 30, 2021 and 2020 are as follows (in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2021			2020			2021			2020
					Revised						Revised
Current:
Domestic	$	(2,176	)	$	(705	)	$	(7,489	)	$	1,690
Foreign		(1,578	)		(2,286	)		(4,690	)		(6,005	)
Total current income and mining tax provision		(3,754	)		(2,991	)		(12,179	)		(7,695	)
Deferred:
Domestic		3,213			(2,761	)		8,226			(1,108	)
Foreign		5,074			571			7,877			1,380
Total deferred income and mining tax benefit		8,287			(2,190	)		16,103			272
Total income and mining tax benefit (provision)	$	4,533		$	(5,181	)	$	3,924		$	(7,423	)

The income and mining tax benefit (provision) for the three and nine months ended September 30, 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. The valuation allowance reversed for utilization of net operating loss carryforward for the three and nine months ended September 30, 2021 totaled $1.1 million and $9.7 million, respectively.