Segment Information

12 Months Ended

Dec. 31, 2019

Disclosure of entity's operating segments [Abstract]

Segmented Information

26. SEGMENTED INFORMATION

Operating segments are determined by the way information is reported and used by the Company's Chief Operating Decision Maker ("CODM") to review operating performance. The Company has determined that each producing mine and significant development property represents a reportable segment. The Company has organized its reportable segments by significant revenue streams and geographic regions.

Significant information relating to the Company’s reportable segments is summarized in the table below:

For the year ended December 31, 2019
Segment/Country	Mine	Revenue		Production costs and royalties		Depreciation		Mine operating earnings			Capital expenditures
Silver Segment:
Mexico	Dolores	$	248,744	$	191,320	$	104,701	$	(47,277	)	$	47,722
	La Colorada	177,698		75,139		23,175		79,384			20,139
Peru	Huaron	117,118		76,962		13,638		26,518			8,013
	Morococha	101,549		73,396		15,482		12,671			10,703
Bolivia	San Vicente	76,968		57,805		9,449		9,714			4,938
Argentina	Manantial Espejo	63,289		63,432		5,854		(5,997		)	23,909
Guatemala	Escobal	—		—		—		—			1,107
Total Silver Segment		785,366		538,054		172,299		75,013			116,531
Gold Segment:
Peru	Shahuindo	189,372		90,877		28,649		69,846			31,239
	La Arena	174,803		99,915		14,873		60,015			47,557
Canada	Timmins	201,218		139,172		36,302		25,744			10,346
Total Gold Segment		565,393		329,964		79,824		155,605			89,142
Other segment:
Canada	Pas Corp	—		—		488		(488		)	125
Argentina	Navidad	—		—		—		—			9
Other	Other	—		—		842		(842		)	—
Total		$	1,350,759	$	868,018	$	253,453	$	229,288		$	205,807

For the year ended December 31, 2018
Segment/Country	Mine	Revenue		Production costs and royalties		Depreciation		Mine operating earnings			Capital expenditures
Silver Segment:
Mexico	Dolores	$	236,835	$	187,920	$	83,620	$	(34,705	)	$	59,480
	La Colorada	164,050		70,864		22,567		70,619			22,473
Peru	Huaron	114,739		75,382		12,867		26,490			14,551
	Morococha	117,517		68,066		15,476		33,975			10,370
Bolivia	San Vicente	60,503		43,405		6,200		10,898			6,949
Argentina	Manantial Espejo	90,851		90,672		6,084		(5,905		)	29,881
Total Silver Segment		784,495		536,309		146,814		101,372			143,704
Other segment:
Canada	Pas Corp	—		—		145		(145		)	440
Argentina	Navidad	—		—		—		—			39
Other	Other	—		—		330		(330		)	165
Total		$	784,495	$	536,309	$	147,289	$	100,897		$	144,348

A reconciliation of segment mine operating earnings to the Company’s earnings before income taxes per the Consolidated Income Statements is as follows:

	2019			2018
Mine operating earnings	229,288			100,897
General and administrative	$	(31,752	)	$	(22,649	)
Exploration and project development	$	(11,684	)	$	(11,138	)
Mine care and maintenance	$	(23,662	)	$	—
Foreign exchange losses	$	(5,003	)	$	(9,326	)
Impairment charges (Note 13)	$	(40,050	)	$	(27,789	)
Gains on commodity and foreign currency contracts (Note 9)	$	3,315		$	4,930
Gains on sale of mineral properties, plant and equipment (Note 12)	$	3,858		$	7,973
Share of income from associate and dilution gain (Note 14)	$	15,245		$	13,679
Transaction and integration costs (Note 8)	$	(7,515	)	$	(10,229	)
Other expense (Note 27)	$	(4,936	)	$	(3,659	)
Earnings from operations	$	127,104		$	42,689
Loss on derivatives (Note 9)	$	(14	)	$	(1,078	)
Investment income (loss)	$	84,704		$	(284	)
Interest and finance expense (Note 23)	$	(29,282	)	$	(8,139	)
Earnings before income taxes	182,512			33,188

At December 31, 2019
Segment/Country	Mine	Assets		Liabilities		Net assets
Silver Segment:
Mexico	Dolores	$	763,301	$	137,396	$	625,905
	La Colorada	$	223,416	$	46,476	$	176,940
Peru	Huaron	$	110,642	$	39,962	$	70,680
	Morococha	$	128,280	$	36,754	$	91,526
Bolivia	San Vicente	$	76,418	$	35,331	$	41,087
Argentina	Manantial Espejo	$	77,635	$	27,455	$	50,180
Guatemala	Escobal	$	293,178	$	19,340	$	273,838
Total Silver Segment		1,672,870		342,714		1,330,156
Gold Segment:
Peru	Shahuindo	$	600,096	$	162,821	$	437,275
	La Arena	$	282,978	$	90,472	$	192,506
Canada	Timmins	$	429,060	$	50,171	$	378,889
Total Gold Segment		1,312,134		303,464		1,008,670
Other segment:
Canada	Pas Corp	$	229,814	$	304,184	$	(74,370	)
Argentina	Navidad	$	193,034	$	—	$	193,034
	Other	$	53,830	$	43,474	$	10,356
Total		$	3,461,682	$	993,836	$	2,467,846

At December 31, 2018
Segment/Country	Mine	Assets		Liabilities		Net assets
Silver Segment:
Mexico	Dolores	$	791,485	$	150,003	$	641,482
	La Colorada	$	230,736	$	56,206	$	174,530
Peru	Huaron	$	119,015	$	44,055	$	74,960
	Morococha	$	126,755	$	40,183	$	86,572
Bolivia	San Vicente	$	83,686	$	38,169	$	45,517
Argentina	Manantial Espejo	$	20,839	$	24,994	$	(4,155	)
		1,372,516		353,610		1,018,906
Other segment:
Canada	Pas Corp	$	247,792	$	30,221	$	217,571
Argentina	Navidad	$	193,777	$	1,546	$	192,231
	Other	$	123,391	$	38,750	$	84,641
		$	1,937,476	$	424,127	$	1,513,349

Product Revenue	2019	2018
Refined silver and gold	894,202	348,717
Zinc concentrate	134,992	155,412
Lead concentrate	183,343	150,832
Copper concentrate	78,865	86,599
Silver concentrate	59,357	42,935
Total	1,350,759	784,495

The Company has 23 customers that account for 100% of the concentrate and silver and gold sales revenue. The Company has 7 customers that accounted for 15%, 15%, 13%, 13%, 9%, 8%, and 8% of total sales in 2019, and 7 customers that accounted for 28%, 14%, 13%, 10%, 8%, 8%, and 5% of total sales in 2018. The loss of certain of these customers or curtailment of purchases by such customers could have a material adverse effect on the Company’s financial performance, financial position, and cash flows.