COEUR MINING, INC., 10-K filed on 2/22/2023
Annual Report
v3.22.4
Document and Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2022
Feb. 20, 2023
Jun. 30, 2022
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Current Fiscal Year End Date --12-31    
Document Period End Date Dec. 31, 2022    
Document Transition Report false    
Entity File Number 1-8641    
Entity Registrant Name COEUR MINING, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 82-0109423    
Entity Address, Address Line One 200 South Wacker Drive    
Entity Address, Address Line Two Suite 2100    
Entity Address, City or Town Chicago    
Entity Address, State or Province IL    
Entity Address, Postal Zip Code 60606    
City Area Code 312    
Local Phone Number 489-5800    
Title of 12(b) Security Common Stock (par value $.01 per share)    
Trading Symbol CDE    
Security Exchange Name NYSE    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding   295,644,735  
Entity Central Index Key 0000215466    
Amendment Flag false    
Document Fiscal Year Focus 2022    
Document Fiscal Period Focus FY    
ICFR Auditor Attestation Flag true    
Entity Public Float     $ 840,945,651
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
v3.22.4
Audit Information
 12 Months Ended
Dec. 31, 2022
Audit Information [Abstract]  
Auditor Name Grant Thornton LLP
Auditor Location Chicago, Illinois
Auditor Firm ID 248
v3.22.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 61,464 $ 56,664
Receivables 36,333 32,417
Inventory 61,831 51,281
Ore on leach pads 82,958 81,128
Equity Securities, FV-NI, Current 32,032 0
Prepaid expenses and other 25,814 13,847
Assets held for sale 0 54,240
Current assets 300,432 289,577
NON-CURRENT ASSETS    
Property, plant and equipment, net 392,320 319,967
Mining properties, net 997,435 852,799
Ore on leach pads, noncurrent 51,268 73,495
Restricted assets 9,028 9,138
Equity securities 12,120 132,197
Receivables, Net, Current 22,023 0
Other assets 61,517 57,249
TOTAL ASSETS 1,846,143 1,734,422
CURRENT LIABILITIES    
Accounts payable 96,123 103,901
Accrued liabilities and other 92,863 87,946
Debt 24,578 29,821
Reclamation 5,796 2,931
Liabilities held for sale 0 11,269
Current liabilities 219,360 235,868
NON-CURRENT LIABILITIES    
Debt 491,355 457,680
Reclamation 196,635 178,957
Deferred tax liabilities 14,459 21,969
Other long-term liabilities 35,318 39,686
Non-current liabilities $ 737,767 $ 698,292
Common Stock, Shares, Outstanding 295,697,624 256,919,803
STOCKHOLDERS' EQUITY    
Common stock, par value $0.01 per share; authorized 600,000,000 shares, 295,697,624 issued and outstanding at December 31, 2022 and 256,919,803 at December 31, 2021 $ 2,957 $ 2,569
Additional paid-in capital 3,891,265 3,738,347
Accumulated other comprehensive income (loss) 12,343 (1,212)
Accumulated deficit (3,017,549) (2,939,442)
Stockholders' equity 889,016 800,262
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,846,143 $ 1,734,422
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 600,000,000 600,000,000
Common stock, shares issued (in shares) 295,697,624 256,919,803
v3.22.4
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2022
Dec. 31, 2021
STOCKHOLDERS' EQUITY    
Common stock, par value $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 600,000,000 600,000,000
Common stock, shares issued (in shares) 295,697,624 256,919,803
v3.22.4
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenue $ 785,636 $ 832,828 $ 785,461
COSTS AND EXPENSES      
Amortization 111,626 128,315 131,387
General and administrative 39,460 40,399 33,722
Pre-development, reclamation, and other 41,287 48,678 55,654
Total costs and expenses 825,527 780,100 703,741
OTHER INCOME (EXPENSE), NET      
Gain (Loss) on Extinguishment of Debt 0 (9,173) 0
Fair value adjustments, net, pretax (66,668) (543) 7,601
Interest expense, net of capitalized interest (23,861) (16,451) (20,708)
Other, net (66,971) 22,925 5,941
Total other income (expense), net (23,558) (49,092) (19,048)
Income (loss) before income and mining taxes (63,449) 3,636 62,672
Income and mining tax (expense) benefit (14,658) (34,958) (37,045)
NET INCOME (LOSS) (78,107) (31,322) 25,627
OTHER COMPREHENSIVE INCOME (LOSS), Net of Tax:      
Unrealized gain (loss) on hedger, net of tax 37,445 22,783 (12,434)
Reclassification adjustments for realized (gain) loss on cash flow hedges 23,890 12,859 (1,434)
Other comprehensive income (loss) 13,555 9,924 (11,000)
COMPREHENSIVE INCOME (LOSS) $ (64,552) $ (21,398) $ 14,627
Basic EPS      
Earnings Per Share, Basic $ (0.28) $ (0.13) $ 0.11
Diluted EPS      
Earnings Per Share, Diluted $ (0.28) $ (0.13) $ 0.11
Accumulated Deficit [Member]      
OTHER INCOME (EXPENSE), NET      
NET INCOME (LOSS) $ (78,107) $ (31,322) $ 25,627
Product      
COSTS AND EXPENSES      
Costs applicable to sales [1] 606,530 511,539 440,335
Mineral, Exploration      
COSTS AND EXPENSES      
Costs applicable to sales $ 26,624 $ 51,169 $ 42,643
[1] Excludes amortization.
v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (78,107) $ (31,322) $ 25,627
Adjustments:      
Amortization 111,626 128,315 131,387
Accretion 14,850 12,897 11,984
Deferred income taxes (18,450) (10,932) (7,283)
Loss on debt extinguishment 0 9,173 0
Fair value adjustments, net 63,529 543 (7,634)
Stock-based compensation 10,030 13,660 8,548
Gain on modification of right of use lease 0 0 (4,051)
Gain (loss) on sale of assets and investments (62,249) 0 0
Inventory Write-down 45,978 38,596 16,821
Revenue Recognized (15,887) (16,226) (16,702)
Foreign exchange and other 542 911 3,737
Changes in operating assets and liabilities:      
Receivables 4,452 (983) (9,463)
Prepaid expenses and other current assets 240 489 (2,621)
Inventories (51,448) (27,628) (34,538)
Accounts payable and accrued liabilities 510 (7,011) 32,897
Cash provided by (used in) operating activities 25,616 110,482 148,709
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (352,354) (309,781) (99,279)
Proceeds from the sale of assets 165,829 6,824 5,529
Payments to Acquire Investments 0 (1,955) (2,500)
Sale of investments 40,469 935 30,831
Other (107) (99) (252)
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (146,163) (304,076) (65,671)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from Issuance of Common Stock 147,408 0 0
Issuance of notes and bank borrowings, net of issuance costs 320,000 592,493 150,000
Payments on long-term debt, capital leases, and associated costs (338,721) (430,101) (175,984)
Silvertip contingent consideration 0 0 (18,750)
Other (3,661) (4,256) (1,801)
CASH PROVIDED (USED IN) BY FINANCING ACTIVITIES 125,026 158,136 (46,535)
Effect of exchange rate changes on cash and cash equivalents 401 (423) 649
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 4,880 (35,881) 37,152
Cash, cash equivalents and restricted cash at beginning of period 58,289 94,170 57,018
Cash, cash equivalents and restricted cash at end of period $ 63,169 $ 58,289 $ 94,170
v3.22.4
Consolidated Statements of Changes in Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
JDS Silver
Common Stock
Common Stock
JDS Silver
Additional Paid-In Capital
Additional Paid-In Capital
JDS Silver
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Balances, in shares at Dec. 31, 2019     241,529          
Balances at Dec. 31, 2019 $ 667,004   $ 2,415   $ 3,598,472   $ (2,933,747) $ (136)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 25,627           25,627  
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent (11,000)             (11,000)
Common stock issued under stock-based compensation plans, net (in shares)     1,345          
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 6,553   $ 14   6,539      
Balances, in shares at Dec. 31, 2020     243,752          
Balances at Dec. 31, 2020 693,479   $ 2,438   3,610,297   (2,908,120) (11,136)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Common stock issued for Silvertip contingent consideration payment (in shares)       878        
Common stock issued for Silvertip contingent consideration payment   $ 5,295   $ 9   $ 5,286    
Net income (loss) (31,322)           (31,322)  
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 9,924             9,924
Common stock issued under stock-based compensation plans, net (in shares)     381          
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 9,404   $ 3   9,401      
Balances, in shares at Dec. 31, 2021     256,919          
Balances at Dec. 31, 2021 800,262   $ 2,569   3,738,347   (2,939,442) (1,212)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Common stock issued for Silvertip contingent consideration payment (in shares)       12,786        
Common stock issued for Silvertip contingent consideration payment   118,777   $ 128   118,649    
Net income (loss) (78,107)           (78,107)  
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 13,555             13,555
Common stock issued under stock-based compensation plans, net (in shares)     1,959          
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 6,391   $ 20   6,371      
Balances, in shares at Dec. 31, 2022     295,698          
Balances at Dec. 31, 2022 $ 889,016   $ 2,957   $ 3,891,265   $ (3,017,549) $ 12,343
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Common stock issued for Silvertip contingent consideration payment (in shares)       36,820        
Common stock issued for Silvertip contingent consideration payment   $ 146,915   $ 368   $ 146,547    
v3.22.4
Basis of Presentation
 12 Months Ended
Dec. 31, 2022
Basis of Presentation [Abstract]  
Basis of Accounting THE COMPANYCoeur Mining, Inc. (“Coeur” or the “Company”) is primarily a gold and silver producer with assets in the United States, Mexico and Canada. Coeur was incorporated as an Idaho corporation in 1928 under the name Coeur d’Alene Mines Corporation and on May 16, 2013, changed its state of incorporation from the State of Idaho to the State of Delaware and changed its name to Coeur Mining, Inc. Coeur’s corporate headquarters are in Chicago, Illinois.
v3.22.4
Summary Of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Risks and uncertainties
As a mining company, the revenue, profitability and future rate of growth of the Company are substantially dependent on the prevailing prices for gold, silver, zinc and lead. The prices of these metals are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals stockpiles, global and regional demand and production, political and economic conditions and other factors. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and the quantities of reserves that the Company can economically produce. Further, the carrying value of the Company’s property, plant and equipment, net; mining properties, net; inventories and ore on leach pads are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.
In addition to changes in commodity prices, other factors such as changes in mine plans, increases in costs, geotechnical failures, changes in social, environmental or regulatory requirements and impacts of global events such as the COVID-19 pandemic could result in material impairment charges related to these assets.
Use of Estimates
The Company's Consolidated Financial Statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”). The preparation of the Company's Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to metal prices and mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of production amortization calculations, environmental, reclamation and closure obligations, estimates of recoverable silver and gold in leach pad inventories, estimates of fair value for certain reporting units and asset impairments, valuation allowances for deferred tax assets, and the fair value and accounting treatment of financial instruments, equity securities, asset acquisitions, the allocation of fair value to assets and liabilities assumed in connection with business combinations, and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from the amounts estimated in these financial statements.
Principles of Consolidation
The Consolidated Financial Statements include the wholly-owned subsidiaries of the Company, the most significant of which are Coeur Mexicana S.A. de C.V., Coeur Rochester, Inc., Coeur Alaska, Inc., Wharf Resources (U.S.A.), Inc., and Coeur Silvertip Holdings Ltd. All intercompany balances and transactions have been eliminated.
Cash and Cash Equivalents
Cash and cash equivalents include all highly-liquid investments with an original maturity of three months or less. The Company minimizes its credit risk by investing its cash and cash equivalents with major U.S. and international banks and financial institutions located principally in the United States with a minimum credit rating of A1, as defined by Standard & Poor’s. The Company’s management believes that no concentration of credit risk exists with respect to the investment of its cash and cash equivalents. At certain times, amounts on deposit may exceed federal deposit insurance limits.
Receivables
Trade receivables and other receivable balances are reported at outstanding principal amounts, net of an allowance for doubtful accounts, if deemed necessary. Management evaluates the collectability of receivable account balances to determine the allowance, if any. Management considers the other party's credit risk and financial condition, as well as current and projected economic and market conditions, in determining the amount of the allowance. Receivable balances are written off when management determines that the balance is uncollectible.
Ore on Leach Pads
The heap leach process extracts silver and gold by placing ore on an impermeable pad and applying a diluted cyanide solution that dissolves a portion of the contained silver and gold, which are then recovered in metallurgical processes.
The Company uses several integrated steps to scientifically measure the metal content of ore placed on the leach pads. As the ore body is drilled in preparation for the blasting process, samples are taken of the drill residue which are assayed to determine estimated quantities of contained metal. The Company then processes the ore through crushing facilities where the output is again weighed and sampled for assaying. A metallurgical reconciliation with the data collected from the mining operation is completed with appropriate adjustments made to previous estimates. The crushed ore is then transported to the leach pad for application of the leaching solution. As the leach solution is collected from the leach pads, it is continuously sampled for assaying. The quantity of leach solution is measured by flow meters throughout the leaching and precipitation process. After precipitation, the product is converted to doré at the Rochester mine and a form of gold concentrate at the Wharf mine, representing the final product produced by each mine. The inventory is stated at lower of cost or net realizable value, with cost being determined using a weighted average cost method.
The historical cost of metal expected to be extracted within 12 months is classified as current and the historical cost of metals contained within the broken ore expected to be extracted beyond 12 months is classified as non-current. Ore on leach pads is valued based on actual production costs incurred to produce and place ore on the leach pad, less costs allocated to minerals recovered through the leach process.
The estimate of both the ultimate recovery expected over time and the quantity of metal that may be extracted relative to the time the leach process occurs requires the use of estimates, which are inherently inaccurate due to the nature of the leaching process. The quantities of metal contained in the ore are based upon actual weights and assay analysis. The rate at which the leach process extracts gold and silver from the crushed ore is based upon laboratory testing and actual experience of more than 20 years of leach pad operations at the Rochester mine and 30 years of leach pad operations at the Wharf mine. The assumptions used by the Company to measure metal content during each stage of the inventory conversion process includes estimated recovery rates based on laboratory testing and assaying. The Company periodically reviews its estimates compared to actual experience and revises its estimates when appropriate. The ultimate recovery will not be known until leaching operations cease. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis. As of December 31, 2022, the Company’s estimated recoverable ounces of gold and silver on the leach pads were 40,083 and 4.7 million, respectively.
Metal and Other Inventory
Inventories include concentrate, doré, and operating materials and supplies. The classification of inventory is determined by the stage at which the ore is in the production process. All inventories are stated at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. Concentrate and doré inventory includes product at the mine site and product held by refineries. Metal inventory costs include direct labor, materials, depreciation, depletion and amortization as well as overhead costs relating to mining activities.
Property, Plant, and Equipment
Expenditures for new facilities, assets acquired pursuant to finance leases, new assets or expenditures that extend the useful lives of existing facilities are capitalized and depreciated using the straight-line method at rates sufficient to depreciate such costs over the shorter of estimated productive lives of such facilities, lease term, or the useful life of the individual assets. Productive lives range from 7 to 30 years for buildings and improvements and 3 to 10 years for machinery and equipment. Certain mining equipment is depreciated using the units-of-production method based upon estimated total proven and probable reserves.
Mining Properties and Mine Development
Capitalization of mine development costs begins once all operating permits have been secured, mineralization is classified as proven and probable reserves and a final feasibility study has been completed. Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization are classified as proven and probable reserves and are capitalized if a project is in pre-production phase or expensed and classified as Exploration or Pre-development if the
project is not yet in pre-production. Mine development costs are amortized using the units-of-production method over the estimated life of the ore body generally based on recoverable ounces to be mined from proven and probable reserves. Interest expense allocable to the cost of developing mining properties and to construct new facilities is capitalized until assets are ready for their intended use.
Drilling and related costs incurred at the Company’s operating mines are expensed as incurred in Exploration, unless the Company can conclude with a high degree of confidence, prior to the commencement of a drilling program, that the drilling costs will result in the conversion of a mineral resource into mineral reserve. The Company’s assessment is based on the following factors: results from previous drill programs; results from geological models; results from a mine scoping study confirming economic viability of the resource; and preliminary estimates of mine inventory, ore grade, cash flow and mine life. In addition, the Company must have all permitting and/or contractual requirements necessary to have the right to and/or control of the future benefit from the targeted ore body. The costs of a drilling program that meet these criteria are capitalized as mine development costs. Drilling and related costs of approximately $21.6 million and $19.9 million at December 31, 2022 and 2021, respectively, were capitalized.
The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory.
Mineral Interests
Significant payments related to the acquisition of land and mineral rights are capitalized. Prior to acquiring such land or mineral rights, the Company generally makes a preliminary evaluation to determine that the property has significant potential to develop an economic ore body. The time between initial acquisition and full evaluation of a property’s potential is variable and is determined by many factors including: location relative to existing infrastructure, the property’s stage of development, geological controls and metal prices. If a mineable ore body is discovered, such costs are amortized when production begins using the units-of-production method based on recoverable ounces to be mined from proven and probable reserves. If no mineable ore body is discovered, such costs are expensed in the period in which it is determined the property has no future economic value.
Impairment of Long-lived Assets
We review and evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Asset impairment is considered to exist if the total estimated undiscounted pretax future cash flows are less than the carrying amount of the asset. In estimating future cash flows, assets are grouped at the lowest level for which there is identifiable cash flows that are largely independent of future cash flows from other asset groups. An impairment loss is measured by discounted estimated future cash flows, and recorded by reducing the asset's carrying amount to fair value. Future cash flows are estimated based on estimated quantities of recoverable minerals, expected gold, silver, lead and zinc prices (considering current and historical prices, trends and related factors), production levels, operating costs, capital requirements and reclamation costs, all based on life-of-mine plans.
Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization other than proven and probable reserves are included when determining the fair value of mine site asset groups at acquisition and, subsequently, in determining whether the assets are impaired. The term “recoverable minerals” refers to the estimated amount of gold, silver, lead and zinc that will be obtained after taking into account losses during ore processing and treatment. Estimates of recoverable minerals from exploration stage mineral interests are risk adjusted based on management’s relative confidence in such materials. The ability to achieve the estimated quantities of recoverable minerals from exploration stage mineral interests involves further risks in addition to those risk factors applicable to mineral interests where proven and probable reserves have been identified, due to the lower level of confidence that the identified mineral resources could ultimately be mined economically. Assets classified as exploration potential have the highest level of risk that the carrying value of the asset can be ultimately realized, due to the still lower level of geological confidence and economic modeling.
Gold, silver, zinc and lead prices are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals stockpiles, global and regional demand and production, political and economic conditions and other factors may affect the key assumptions used in the Company’s impairment testing. Various factors could impact our ability to achieve forecasted production levels from proven and probable reserves. Additionally, production, capital and reclamation costs could differ from the assumptions used in the cash flow models used to assess impairment. Actual results may vary from the Company’s estimates and result in additional Impairment of Long-lived Assets.
Properties Held for Sale
In determining whether to classify a property as held for sale, the Company considers whether: (i) management has committed to a plan to sell the property; (ii) the investment is available for immediate sale, in its present condition; (iii) the Company has initiated a program to locate a buyer; (iv) the Company believes that the sale of the property is probable; (v) the Company has received a significant non-refundable deposit for the purchase of the property; (vi) the Company is actively marketing the property for sale at a price that is reasonable in relation to its estimated fair value; and (vii) actions required for the Company to complete the plan indicate that it is unlikely that any significant changes will be made to the plan. If all of the above criteria are met, the Company classifies the property as held for sale.
At September 30, 2021, the La Preciosa project met the held for sale criteria. However, considering that the La Preciosa project was not an operating mine, the Company determined that the expected disposal of the La Preciosa project did not represent a strategic shift that had a major effect on the entity's results and operations, therefore, the applicable assets, liabilities presented at December 31, 2021 are classified on the Consolidated Balance Sheets as held for sale. The operating results for the applicable period presented are not presented separately as held for sale. The closing of the sale of the La Preciosa project occurred on March 21, 2022. See Note 21 -- Dispositions.
Restricted Assets
The Company, under the terms of its self-insurance and bonding agreements with certain banks, lending institutions and regulatory agencies, is required to collateralize certain portions of its obligations. The Company has collateralized these obligations by assigning certificates of deposit that have maturity dates ranging from three months to a year, to the respective institutions or agencies. At December 31, 2022 and 2021, the Company held certificates of deposit and cash under these agreements of $9.0 million and $9.1 million, respectively. The ultimate timing of the release of the collateralized amounts is dependent on the timing and closure of each mine and repayment of the facility. In order to release the collateral, the Company must seek approval from certain government agencies responsible for monitoring the mine closure status. Collateral could also be released to the extent the Company is able to secure alternative financial assurance satisfactory to the regulatory agencies. The Company believes there is a reasonable probability that the collateral will remain in place beyond a twelve-month period and has therefore classified these investments as long-term.
Leases
We determine if an arrangement is, or contains, a lease at the inception date. Operating leases are included in Other assets, non-current with the related liabilities included in Accrued liabilities and Other and Other long-term liabilities. Assets under finance leases, which primarily represent property and equipment, are included in Property, plant and equipment, net, with the related liabilities included in debt, current and debt, non-current on the Consolidated Balance Sheet.
Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We have elected to not recognize operating lease assets and liabilities for short-term leases that have a lease term of twelve months or less. Lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components which are accounted for as a single lease component. See Note 9 -- Leases for additional information related to the Company’s operating and finance leases.
Reclamation
The Company recognizes obligations for the expected future retirement of tangible long-lived assets and other associated asset retirement costs. The fair value of a liability for an asset retirement obligation will be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. The fair value of the liability is added to the carrying amount of the associated asset and this additional carrying amount is depreciated over the life of the asset. An accretion cost, representing the increase over time in the present value of the liability, is recorded each period in Pre-development, reclamation, and other. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability is reduced. Future remediation costs for inactive mines are accrued based on management’s best estimate at the end of each period of the discounted costs expected to be incurred at the site. Such cost estimates include, where applicable, ongoing care and maintenance and monitoring costs. Changes in estimates are reflected prospectively in the period an estimate is revised. See Note 11 -- Reclamation for additional information.
Foreign Currency
The assets and liabilities of the Company’s foreign subsidiaries are measured using U.S. dollars as their functional currency. Revenues and expenses are remeasured at the average exchange rate for the period. Foreign currency gains and losses are included in the determination of net income or loss.
Derivative Financial Instruments
The Company is exposed to various market risks, including the effect of changes in metal prices, foreign exchange rates and interest rates, and uses derivatives to manage financial exposures that occur in the normal course of business. The Company may elect to designate certain derivatives as hedging instruments under U.S. GAAP.
The Company, from time to time, uses derivative contracts to protect the Company’s exposure to fluctuations in metal prices and foreign exchange rates. The Company has elected to designate these instruments as cash flow hedges of forecasted transactions at their inception. Assuming normal market conditions, the change in the market value of such derivative contracts has historically been, and is expected to continue to be, highly effective at offsetting changes in price movements of the hedged item. The effective portions of cash flow hedges are recorded in Accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges of metal sales revenue are recognized as a component of Revenue in the same period as the related sale is recognized. Deferred gains and losses associated with cash flow hedges of foreign currency transactions are recognized as a component of Costs applicable to sales or Pre-development, reclamation and other in the same period the related expenses are incurred.
For derivatives not designated as hedging instruments, the Company recognizes derivatives as either assets or liabilities on the Consolidated Balance Sheets and measures those instruments at fair value. Changes in the value of derivative instruments not designated as hedging instruments are recorded each period in the Consolidated Statements of Comprehensive Income (Loss) in Fair value adjustments, net or Revenue. Management applies judgment in estimating the fair value of instruments that are highly sensitive to assumptions regarding commodity prices, market volatilities, and foreign currency exchange rates. See Note 15 -- Derivative Financial Instruments and Hedging Activities for additional information.
Stock-based Compensation
The Company estimates the fair value of stock options using the Black-Scholes option pricing model and stock appreciation rights (“SARs”) awards using market comparison. Stock options granted are accounted for as equity-based awards and SARs are accounted for as liability-based awards. The value of the SARs is remeasured at each reporting date. The Company estimates forfeitures of stock-based awards based on historical data and periodically adjusts the forfeiture rate. The adjustment of the forfeiture rate is recorded as a cumulative adjustment in the period the forfeiture estimate is changed. Compensation costs related to stock based compensation are included in General and administrative expenses, Costs applicable to sales, and Property, plant, and equipment, net as deemed appropriate.
The fair value of restricted stock is based on the Company's stock price on the date of grant. The fair value of performance leverage stock units with market conditions is determined using a Monte Carlo simulation model. Stock based compensation expense related to awards with a market or performance condition is generally recognized over the vesting period of the award utilizing the graded vesting method, while all other awards are recognized on a straight-line basis. The Company's estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee stock option exercise behaviors, additional stock option grants, estimates of forfeitures, the Company's performance, and related tax impacts. See Note 13 -- Stock-Based Compensation for additional information.
Income and Mining Taxes
The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carryforwards, using enacted tax rates in effect in the years in which the differences are expected to reverse.
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. A valuation allowance has been provided for the portion of the Company’s net deferred tax assets for which it is more likely than not that they will not be realized.
Revenue Recognition
The Company produces doré and concentrate that is shipped to third-party refiners and smelters, respectively, for processing. The Company enters into contracts to sell its metal to various third-party customers which may include the refiners
and smelters that process the doré and concentrate. The Company’s performance obligation in these transactions is generally the transfer of metal to the customer.
In the case of doré shipments, the Company generally sells refined metal at market prices agreed upon by both parties. The Company also has the right, but not the obligation, to sell a portion of the anticipated refined metal in advance of being fully refined. When the Company sells refined metal or advanced metal, the performance obligation is satisfied when the metal is delivered to the customer. Revenue and Costs applicable to sales are recorded on a gross basis under these contracts at the time the performance obligation is satisfied.
Under the Company’s concentrate sales contracts with third-party smelters, metal prices are set on a specified future quotational period, typically one to three months, after the shipment date based on market prices. When the Company sells gold concentrate to the third-party smelters, the performance obligation is satisfied when risk of loss is transferred to the customer. The contracts, in general, provide for provisional payment based upon provisional assays and historical metal prices. Final settlement is based on the applicable price for the specified future quotational period and generally occurs three to six months after shipment. The Company’s provisionally priced sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of concentrates measured at the forward price at the time of sale. The embedded derivative does not qualify for hedge accounting and is adjusted to fair value through revenue each period until the date of final metal settlement.
The Company also sells concentrate under off-take agreements to third-party customers that are responsible for arranging the smelting of the concentrate. Prices can either be fixed or based on a quotational period. The quotational period varies by contract, but is generally a one-month period following the shipment of the concentrate. The performance obligation is satisfied when risk of loss is transferred to the customer.
The Company recognizes revenue from concentrate sales, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer.
For doré and off-take sales, the Company may incur a finance charge related to advance sales that is not considered significant and, as such, is not considered a separate performance obligation. In addition, the Company has elected to treat freight costs as a fulfillment cost under ASC 606 and not as a separate performance obligation.
The Company’s gold stream agreement with a subsidiary of Franco-Nevada Corporation (“Franco-Nevada”) provided for a $22.0 million deposit paid by Franco-Nevada in exchange for the right and obligation, commencing in 2016, to purchase 50% of a portion of Palmarejo gold production at the lesser of $800 or market price per ounce. Because there is no minimum obligation associated with the deposit, it is not considered financing, and each shipment is considered to be a separate performance obligation. The streaming agreement represents a contract liability under ASC 606, which requires the Company to ratably recognize a portion of the deposit as revenue for each gold ounce delivered to Franco-Nevada. The remaining unamortized balance is included in Accrued liabilities and other and Other long-term liabilities on the Consolidated Balance Sheets. See Note 19 -- Commitments and Contingencies for additional detail.
The following table presents a roll forward of the Franco-Nevada contract liability balance:
Year Ended December 31,
In thousands202220212020
Opening Balance$8,150 $9,376 $11,061 
Revenue Recognized(739)(1,226)(1,685)
Closing Balance$7,411 $8,150 $9,376 
In December 2021, the Company received a $15.0 million prepayment (the “December 2021 Prepayment”) for deliveries of gold concentrate from the Kensington mine pursuant to the Amended Sales Contract (as defined in Note 19 -- Commitments and Contingencies). In March 2022, the Company exercised an option to receive a $10.0 million prepayment (the “March 2022 Prepayment). The Amended Sales Contract was further amended in June 2022 to consolidate the remaining deliveries of $15.0 million and $10.0 million under the December 2021 Prepayment and March 2022 Prepayment (the “June 2022 Consolidated Prepayment”). In December 2022, the Company exercised an option to receive a $25.0 million prepayment (the “December 2022 Prepayment”) concurrent with the repayment of the June 2022 Consolidated Prepayment in full. The Amended Sales Contract represents a contract liability under ASC 606, which requires the Company to recognize ratably a portion of the deposit as revenue for each gold ounce delivered to the customer. The remaining contract liability is included in Accrued liabilities and other on the Consolidated Balance Sheets. See Note 19 -- Commitments and Contingencies for additional detail.
The following table presents a roll forward of the Amended Sales Contract liability balance:
Year Ended December 31,
In thousands202220212020
Opening Balance$15,016 $15,003 $15,009 
Additions36,020 30,013 30,177 
Revenue Recognized(26,020)(30,000)(30,183)
Closing Balance$25,016 $15,016 $15,003 
Recently Issued Accounting Standards
In March 2022, the FASB issued ASU 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method” which is intended to make amendments to the fair value hedge accounting previously issued in ASU 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities”. The new standard is effective for reporting periods beginning after December 15, 2022. The standard introduced the portfolio layer method allowing multiple hedged layers of a single closed portfolio when applying fair value hedge accounting. The Company plans to adopt the new derivatives and hedging standards effective January 1, 2023 and does not expect the new derivatives and hedging standard to have a material effect on our financial position, results of operations or cash flows.
v3.22.4
Segment Reporting
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company’s operating segments include the Palmarejo, Rochester, Kensington and Wharf mines and Silvertip exploration property. Except for the Silvertip exploration property, all operating segments are engaged in the discovery, mining, and production of gold and/or silver. The Silvertip exploration property, which suspended mining and processing activities in February 2020, is engaged in the discovery of silver, zinc and lead. Other includes the Sterling/Crown exploration properties (which were sold in the fourth quarter of 2022), other mineral interests, strategic equity investments, corporate office, elimination of intersegment transactions, and other items necessary to reconcile to consolidated amounts. In 2022 the Company disposed of the Sterling/Crown exploration properties and La Preciosa project, see Note 21 -- Dispositions for additional information.
Financial information relating to the Company’s segments is as follows (in thousands):
Year Ended December 31, 2022PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$157,595 $64,460 $201,859 $148,963 $— $— $572,877 
Silver sales145,839 65,203 634 1,083 — — 212,759 
Metal sales303,434 129,663 202,493 150,046 — — 785,636 
Costs and Expenses
Costs applicable to sales(1)
182,576 165,166 155,725 103,063 — — 606,530 
Amortization35,432 22,626 39,032 8,247 4,912 1,377 111,626 
Exploration6,605 4,627 6,637 — 4,628 4,127 26,624 
Other operating expenses4,372 7,340 1,870 1,947 22,322 42,896 80,747 
Other income (expense)
Fair value adjustments, net— — — — — (66,668)(66,668)
Interest expense, net(12)(810)(1,446)(66)(176)(21,351)(23,861)
Other, net(3)
3,204 (506)(21)506 (354)64,142 66,971 
Income and mining tax (expense) benefit(28,771)876 127 (2,868)— 15,978 (14,658)
Net Income (loss) $48,870 $(70,536)$(2,111)$34,361 $(32,392)$(56,299)$(78,107)
Segment assets(2)
$295,715 $809,116 $148,516 $105,209 $244,151 $67,275 $1,669,982 
Capital expenditures$42,648 $246,360 $31,456 $3,138 $24,797 $3,955 $352,354 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 16 -- Additional Comprehensive Income (Loss) Detail for additional detail
Year Ended December 31, 2021PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$150,098 $49,659 $214,635 $164,519 $— $— $578,911 
Silver sales170,176 81,163 370 2,208 — — 253,917 
Metal sales320,274 130,822 215,005 166,727 — — 832,828 
Costs and Expenses
Costs applicable to sales(1)
153,655 131,240 133,065 93,579 — — 511,539 
Amortization36,062 20,187 54,933 11,038 4,797 1,298 128,315 
Exploration8,561 6,016 6,656 143 15,287 14,506 51,169 
Other operating expenses4,443 5,886 6,299 1,786 25,031 45,632 89,077 
Other income (expense)
Loss on debt extinguishment— — — — — (9,173)(9,173)
Fair value adjustments, net— — — — — (543)(543)
Interest expense, net(592)(1,034)(704)(145)1,276 (15,252)(16,451)
Other, net(3)
(28,197)(357)(150)1,650 (1,465)5,594 (22,925)
Income and mining tax (expense) benefit(29,730)559 (414)(4,799)1,478 (2,052)(34,958)
Net Income (loss) $59,034 $(33,339)$12,784 $56,887 $(43,826)$(82,862)$(31,322)
Segment assets(2)
$294,893 $559,283 $142,926 $87,579 $230,617 $109,636 $1,424,934 
Capital expenditures$36,539 $166,548 $27,522 $8,072 $70,069 $1,031 $309,781 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 16 -- Additional Comprehensive Income (Loss) Detail for additional detail



Year Ended December 31, 2020PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$154,056 $46,337 $216,497 $167,743 $— $— $584,633 
Silver sales132,525 63,916 — 2,504 1,230 — 200,175 
Zinc sales— — — — (662)— (662)
Lead sales— — — — 1,315 — 1,315 
Metal sales286,581 110,253 216,497 170,247 1,883 — 785,461 
Costs and Expenses
Costs applicable to sales(1)
125,204 86,112 121,727 89,635 17,657 — 440,335 
Amortization44,873 14,306 49,477 12,473 8,923 1,335 131,387 
Exploration6,955 3,303 8,568 905 12,228 10,684 42,643 
Other operating expenses7,927 5,144 12,012 838 23,123 40,332 89,376 
Other income (expense)
Fair value adjustments, net— — — — — 7,601 7,601 
Interest expense, net(918)(1,142)(1,017)(182)(672)(16,777)(20,708)
Other, net(3)
(5,273)(2,718)(18)(69)1,793 344 (5,941)
Income and mining tax (expense) benefit(28,029)(863)(1,244)(6,644)— (265)(37,045)
Net Income (loss)$67,402 $(3,335)$22,434 $59,501 $(58,927)$(61,448)$25,627 
Segment assets(2)
$305,291 $346,986 $169,414 $75,047 $157,529 $177,886 $1,232,153 
Capital expenditures$25,511 $37,542 $19,825 $2,447 $13,144 $810 $99,279 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 16 -- Additional Comprehensive Income (Loss) Detail for additional detail

Assets December 31, 2022December 31, 2021
Total assets for reportable segments$1,669,982 $1,424,934 
Cash and cash equivalents61,464 56,664 
Other assets114,697 252,824 
Total consolidated assets$1,846,143 $1,734,422 
Geographic Information
Long-Lived Assets December 31, 2022December 31, 2021
United States$899,960 $704,007 
Mexico251,950 244,758 
Canada237,723 223,876 
Other122 125 
Total$1,389,755 $1,172,766 
RevenueYear ended December 31,
202220212020
United States$482,202 $512,554 $496,997 
Mexico303,434 320,274 286,581 
Canada— — 1,883 
Total$785,636 $832,828 $785,461 
The Company's doré, as well as the concentrate product produced by the Wharf mine, is refined into gold and silver bullion according to benchmark standards set by the London Bullion Market Association, which regulates the acceptable requirements for bullion traded in the London precious metals markets. The Company then sells its gold and silver bullion to multi-national banks, bullion trading houses, and refiners across the globe. The Company had five trading counterparties at December 31, 2022. The Company's sales of doré or concentrate product produced by the Palmarejo, Rochester, and Wharf mines amounted to approximately 74%, 74%, and 72%, of total metal sales for the years ended December 31, 2022, 2021, and 2020, respectively.
The Company's gold concentrate product from the Kensington mine and the zinc and lead concentrates from the Silvertip exploration property are or were sold under a variety of agreements with smelters and traders, and the smelters and traders pay the Company for the metals recovered from the concentrates. The Company’s sales of concentrate produced by the Kensington and Silvertip exploration property (solely in 2020 for periods prior to the suspension of active mining operations) amounted to approximately 26%, 26%, and 28% of total metal sales for the years ended December 31, 2022, 2021, and 2020, respectively.
The Company believes that the loss of any one smelter, refiner, trader or third-party customer would not have a material adverse effect on the Company due to the liquidity of the markets and current availability of alternative trading counterparties.
The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years December 31, 2022, 2021, and 2020 (in millions):
Year ended December 31,
Customer202220212020Segments reporting revenue
Bank of Montreal$341.5 $98.7 $17.0 Palmarejo, Rochester, Wharf
Ocean Partners168.9 176.4 161.0 Palmarejo, Kensington, Silvertip
Asahi125.3 323.8 272.1 Palmarejo, Rochester, Kensington, Wharf
Argor-Heraeus49.3 23.3 79.9 Palmarejo, Rochester
Toronto Dominion Bank26.5 61.9 88.6 Rochester
Techemet Metal Trading— 62.2 81.8 Rochester, Wharf
v3.22.4
Receivables
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
RECEIVABLES RECEIVABLES
    Receivables consist of the following:
In thousandsDecember 31, 2022December 31, 2021
Current receivables:
Trade receivables$6,302 $4,879 
VAT receivable10,741 18,415 
Income tax receivable9,719 8,418 
Avino note receivable (1)
4,926 — 
Gold forwards realized gains (2)
4,059 — 
Other586 705 
$36,333 $32,417 
Non-current receivables:
Deferred cash consideration (1)
$7,677 $— 
Contingent consideration (1)
14,346 — 
$22,023 $— 
Total receivables$58,356 $32,417 
(1) See Note 14 -- Fair Value Measurements for additional details on the Avino note receivable, deferred cash consideration and contingent consideration.
(2) Represents realized gains on gold forward hedges from December 2022 that contractually settle in subsequent months. See Note 15 -- Derivative Financial Instruments & Hedging for additional details on the gold forward hedges.
v3.22.4
Inventory and Ore on Leach Pads
 12 Months Ended
Dec. 31, 2022
Inventory Disclosure [Abstract]  
INVENTORY AND ORE ON LEACH PADS INVENTORY AND ORE ON LEACH PADS
    Inventory consists of the following:
In thousandsDecember 31, 2022December 31, 2021
Inventory:
Concentrate$2,869 $1,643 
Precious metals12,636 11,353 
Supplies46,326 38,285 
$61,831 $51,281 
Ore on Leach Pads:
Current$82,958 $81,128 
Non-current51,268 73,495 
$134,226 $154,623 
Long-term Stockpile (included in Other)
$28,840 $18,027 
Total Inventory and Ore on Leach Pads$224,897 $223,931 
    
Coeur reports the carrying value of metal and leach pad inventory at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. In the year ended December 31, 2022, the cost of metal and leach pad inventory at Rochester exceeded its net realizable value, which resulted in non-cash write downs of $52.5 million ($46.0 million was recognized in Costs Applicable to Sales and $6.6 million in Amortization).
v3.22.4
Investments
 12 Months Ended
Dec. 31, 2022
Investment in Marketable Securities [Abstract]  
Investment Holdings INVESTMENTS
Equity Securities
    The Company makes strategic investments in equity securities of silver and gold exploration, development and royalty and streaming companies.
At December 31, 2022
In thousandsCostGross
Unrealized
Losses		Gross
Unrealized
Gains		Estimated
Fair Value
Equity Securities
Victoria Gold Corp.$70,560 $(38,528)$— $32,032 
Integra Resources Corp.9,455 (7,115)— 2,340 
Avino Silver & Gold Mines Ltd13,720 (4,199)— 9,521 
Other2,233 (1,974)— 259 
Equity securities$95,968 $(51,816)$— $44,152 
At December 31, 2021
In thousandsCostGross
Unrealized
Losses		Gross
Unrealized
Gains		Estimated
Fair Value
Equity Securities
Victoria Gold Corp.$128,710 $(4,499)$— $124,211 
Integra Resources Corp.9,455 (1,469)— 7,986 
Equity securities$138,165 $(5,968)$— $132,197 
Changes in the fair value of the Company’s investment in equity securities are recognized each period in the Consolidated Statement of Comprehensive Income (Loss) in Fair value adjustments, net. See Note 14 -- Fair Value Measurements for additional details.
On June 28, 2022, the Company entered into an agreement to sell 5.0 million shares of common stock of Victoria Gold (“Victoria Gold Common Shares”) at a price of $8.34 per Victoria Gold Common Share, which settled on July 5, 2022 for net proceeds of $40.5 million. The Company realized a loss of $15.6 million on the sale of the Victoria Gold Common Shares, which are recognized in Fair value adjustments, net. In January 2023, the Company sold its remaining 6.0 million Victoria Gold Common Shares at a price of $6.70 per share, for net proceeds of $39.8 million.
On March 21, 2022, the Company closed the sale of its La Preciosa silver project. In connection with the closing of the transaction, the Company received 14,000,000 common shares of Avino Silver & Gold Mines Ltd. (“Avino”) (representing approximately 12.0% of Avino’s outstanding common shares). See Note 21 -- Dispositions for additional details on the sale.
v3.22.4
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment consist of the following:
In thousandsDecember 31, 2022December 31, 2021
Land$8,242 $8,480 
Facilities and equipment652,783 668,089 
Assets under finance leases148,174 115,652 
$809,199 $792,221 
Accumulated amortization(1)
(652,898)(620,303)
$156,301 $171,918 
Construction in progress236,019 148,049 
Property, plant and equipment, net$392,320 $319,967 
(1) Includes $80.3 million and $63.9 million of accumulated amortization related to assets under finance leases at December 31, 2022 and December 31, 2021, respectively.
v3.22.4
Mining Properties
 12 Months Ended
Dec. 31, 2022
Mining Properties [Abstract]  
MINING PROPERTIES MINING PROPERTIES
Mining properties consist of the following (in thousands):
December 31, 2022PalmarejoRochesterKensingtonWharfSilvertipSterlingOtherTotal
Mine development$336,656 $637,321 $410,255 $67,326 $81,827 $— $— $1,533,385 
Accumulated amortization(226,437)(161,305)(327,499)(25,306)(12,622)— — (753,169)
110,219 476,016 82,756 42,020 69,205 — — 780,216 
Mineral interests629,303 19,098 — 48,062 114,036 — 10,613 821,112 
Accumulated amortization(542,886)— — (36,179)(24,828)— — (603,893)
86,417 19,098 — 11,883 89,208 — 10,613 217,219 
Mining properties, net$196,636 $495,114 $82,756 $53,903 $158,413 $— $10,613 $997,435 
As further discussed in Note 21 -- Dispositions, the consideration for the sale of La Preciosa project included two royalties, a 1.25% net smelter returns royalty on properties covering the Gloria and Abundancia areas of the La Preciosa project and a 2.00% gross value royalty on all areas of the La Preciosa project other than the Gloria and Abundancia areas. The fair value of the royalties was $11.2 million, valued as of the date of closing of the transaction.

December 31, 2021PalmarejoRochesterKensingtonWharfSilvertipSterlingOtherTotal
Mine development$307,698 $437,833 $382,492 $49,045 $67,805 $3,861 $— $1,248,734 
Accumulated amortization(211,187)(158,805)(302,582)(24,358)(11,685)(1,515)— (710,132)
96,511 279,028 79,910 24,687 56,120 2,346 — 538,602 
Mineral interests629,303 19,098 — 48,062 114,036 95,499 — 905,998 
Accumulated amortization(532,155)— — (34,818)(24,828)— — (591,801)
97,148 19,098 — 13,244 89,208 95,499 — 314,197 
Mining properties, net$193,659 $298,126 $79,910 $37,931 $145,328 $97,845 $— $852,799 
v3.22.4
Leases
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases LEASES
Right of Use Assets and Liabilities
The following table summarizes quantitative information pertaining to the Company’s finance and operating leases.
Year ended December 31,
In thousands202220212020
Lease Cost
Operating lease cost$11,939 $12,585 $12,036 
Short-term operating lease cost$10,573 $11,219 $8,055 
Finance Lease Cost:
Amortization of leased assets$21,571 $21,685 $23,921 
Interest on lease liabilities5,084 4,632 3,634 
Total finance lease cost$26,655 $26,317 $27,555 
Supplemental cash flow information related to leases was as follows:
Year ended December 31,
In thousands202220212020
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$22,511 $24,009 $21,348 
Operating cash flows from finance leases5,084 $4,632 $3,634 
Financing cash flows from finance leases$31,316 $31,544 $25,984 
Supplemental balance sheet information related to leases was as follows:
In thousandsDecember 31, 2022December 31, 2021
Operating Leases
Other assets, non-current$24,603 $30,987 
Accrued liabilities and other11,560 11,301 
Other long-term liabilities14,946 18,660 
Total operating lease liabilities$26,506 $29,961 
Finance Leases
Property and equipment, gross$148,174 $115,597 
Accumulated depreciation(80,336)(63,879)
Property and equipment, net$67,838 $51,718 
Debt, current$24,578 $29,821 
Debt, non-current42,143 24,407 
Total finance lease liabilities$66,721 $54,228 
Weighted Average Remaining Lease Term
Weighted-average remaining lease term - finance leases1.761.62
Weighted-average remaining lease term - operating leases4.443.17
Weighted Average Discount Rate
Weighted-average discount rate - finance leases5.21 %5.08 %
Weighted-average discount rate - operating leases5.24 %5.20 %
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of December 31, 2022 (In thousands)
Operating leases Finance leases
2023$11,869 $25,999 
20249,710 19,452 
2025696 16,839 
2026713 8,429 
2027847 1,821 
Thereafter6,503 — 
Total$30,338 $72,540 
Less: imputed interest(3,832)(5,819)
Net lease obligation$26,506 $66,721 
Leases LEASES
Right of Use Assets and Liabilities
The following table summarizes quantitative information pertaining to the Company’s finance and operating leases.
Year ended December 31,
In thousands202220212020
Lease Cost
Operating lease cost$11,939 $12,585 $12,036 
Short-term operating lease cost$10,573 $11,219 $8,055 
Finance Lease Cost:
Amortization of leased assets$21,571 $21,685 $23,921 
Interest on lease liabilities5,084 4,632 3,634 
Total finance lease cost$26,655 $26,317 $27,555 
Supplemental cash flow information related to leases was as follows:
Year ended December 31,
In thousands202220212020
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$22,511 $24,009 $21,348 
Operating cash flows from finance leases5,084 $4,632 $3,634 
Financing cash flows from finance leases$31,316 $31,544 $25,984 
Supplemental balance sheet information related to leases was as follows:
In thousandsDecember 31, 2022December 31, 2021
Operating Leases
Other assets, non-current$24,603 $30,987 
Accrued liabilities and other11,560 11,301 
Other long-term liabilities14,946 18,660 
Total operating lease liabilities$26,506 $29,961 
Finance Leases
Property and equipment, gross$148,174 $115,597 
Accumulated depreciation(80,336)(63,879)
Property and equipment, net$67,838 $51,718 
Debt, current$24,578 $29,821 
Debt, non-current42,143 24,407 
Total finance lease liabilities$66,721 $54,228 
Weighted Average Remaining Lease Term
Weighted-average remaining lease term - finance leases1.761.62
Weighted-average remaining lease term - operating leases4.443.17
Weighted Average Discount Rate
Weighted-average discount rate - finance leases5.21 %5.08 %
Weighted-average discount rate - operating leases5.24 %5.20 %
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of December 31, 2022 (In thousands)
Operating leases Finance leases
2023$11,869 $25,999 
20249,710 19,452 
2025696 16,839 
2026713 8,429 
2027847 1,821 
Thereafter6,503 — 
Total$30,338 $72,540 
Less: imputed interest(3,832)(5,819)
Net lease obligation$26,506 $66,721 
v3.22.4
Debt
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Debt Disclosure DEBT
 December 31, 2022December 31, 2021
In thousandsCurrentNon-CurrentCurrentNon-Current
2029 Senior Notes, net(1)
$— $369,212 $— $368,273 
Revolving Credit Facility(2)
— 80,000 — 65,000 
Finance lease obligations24,578 42,143 29,821 24,407 
$24,578 $491,355 $29,821 $457,680 
(1) Net of unamortized debt issuance costs of $5.8 million and $6.7 million at December 31, 2022 and December 31, 2021, respectively.
(2) Unamortized debt issuance costs of $3.6 million and $2.4 million at December 31, 2022 and December 31, 2021, respectively, included in Other Non-Current Assets.
2029 Senior Notes
In March 2021, the Company completed an offering of $375.0 million in aggregate principal amount of senior notes in a private placement conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, for net proceeds of approximately $367.5 million (the “2029 Senior Notes”). The 2029 Senior Notes are governed by an Indenture dated as of March 1, 2021 (the “Indenture”), among the Company, as issuer, certain of the Company's subsidiaries named therein, as guarantors thereto (the “Guarantors”), and The Bank of New York Mellon, as trustee (the “Trustee”). The 2029 Senior Notes bear interest at a rate of 5.125% per year from the date of issuance. Interest on the 2029 Senior Notes is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2021. The 2029 Senior Notes will mature on February 15, 2029 and are fully and unconditionally guaranteed by the Guarantors.
At any time prior to February 15, 2024, the Company may redeem all or part of the 2029 Senior Notes upon not less than 30 nor more than 60 days’ prior notice at a redemption price equal to the sum of (i) 100% of the principal amount thereof, plus (ii) a make-whole premium as of the date of redemption, plus (iii) accrued and unpaid interest and additional interest, if any, thereon, to the date of redemption. In addition, the Company may redeem some or all of the 2029 Senior Notes on or after February 15, 2024, at redemption prices set forth in the Indenture, together with accrued and unpaid interest. At any time prior to February 15, 2024, the Company may use the proceeds of certain equity offerings to redeem up to 35% of the aggregate principal amount of the 2029 Senior Notes, including any permitted additional 2029 Senior Notes, at a redemption price equal to 105.125% of the principal amount.
The Indenture contains covenants that, among other things, limit the Company’s ability under certain circumstances to incur additional indebtedness, pay dividends or make other distributions or repurchase or redeem capital stock, prepay, redeem or repurchase certain debt, make loans and investments, create liens, sell, transfer or otherwise dispose of assets, enter into transactions with affiliates, enter into agreements restricting the Company's subsidiaries' ability to pay dividends and impose conditions on the Company’s ability to engage in mergers, consolidations and sales of all or substantially all of its assets. The Indenture also contains certain “Events of Default” (as defined in the Indenture) customary for indentures of this type. If an Event of Default has occurred and is continuing, the Trustee or the holders of not less than 25% in aggregate principal amount of the 2029 Senior Notes then outstanding may, and the Trustee at the request of the holders of not less than 25% in aggregate principal amount of the 2029 Senior Notes then outstanding shall, declare all unpaid principal of, premium, if any, and accrued interest on all the 2029 Senior Notes to be due and payable.
2024 Senior Notes
Concurrent with the offering of the 2029 Senior Notes, the Company commenced a cash tender offer (the “Tender Offer”) to purchase the outstanding $230.0 million in aggregate principal amount of its 5.875% Senior Notes due 2024 (the “2024 Senior Notes”). The Tender Offer was made on the terms and subject to the conditions set forth in the Offer to Purchase dated February 22, 2021. The Tender Offer expired at 5:00 p.m., New York City time, on February 26, 2021 (the “Expiration Time”). Holders of the 2024 Senior Notes who tendered (and did not validly withdraw) their notes at or prior to the Expiration Time were entitled to receive in cash $1,029.38 per $1,000 principal amount of 2024 Senior Notes validly tendered (and not validly withdrawn) and accepted for purchase by the Company in the Tender Offer, plus accrued and unpaid interest on such 2024 Senior Notes. $102.8 million aggregate principal amount of the 2024 Senior Notes were validly tendered and purchased by the Company on March 1, 2021. In accordance with the terms of the indenture governing the 2024 Senior Notes, the remaining $127.2 million aggregate principal amount of the 2024 Senior Notes were redeemed on March 31, 2021 at the redemption price specified in the indenture governing the 2024 Senior Notes ($1,029.38 per $1,000 principal amount redeemed, plus accrued and unpaid interest). The Company recorded a loss of $9.2 million as a result of the extinguishment of the 2024 Senior Notes.
Revolving Credit Facility
In September 2017, the Company, as borrower, and certain subsidiaries of the Company, as guarantors, entered into a $200.0 million senior secured revolving credit facility (“RCF”) pursuant to a credit agreement, dated as of September 29, 2017 (as subsequently amended, the “Credit Agreement”), by and among the Company, as borrower, certain subsidiaries of the Company, as guarantors, Bank of America, N.A., as administrative agent and Bank of America, N.A., Royal Bank of Canada, Bank of Montreal, Chicago Branch, the Bank of Nova Scotia and ING Capital LLC, as lenders (the “Credit Agreement”) with an original term of four years. Loans under the RCF bear interest at a rate equal to either a base rate plus a margin ranging from 1.00% to 1.75% or an adjusted LIBOR rate plus a margin ranging from 2.00% to 2.75%, as selected by the Company, in each case, with such margin determined in accordance with a pricing grid based upon the Company’s consolidated net leverage ratio as of the end of the applicable period. In October 2018, the Company entered into an amendment to the Credit Agreement to increase the RCF by $50.0 million from $200.0 million to $250.0 million and extend the term by approximately one year to October 2022. In April and August of 2019, the Company entered into amendments to the Credit Agreement to, among other items, modify the financial covenants to provide greater flexibility in 2019. On December 14, 2020, the Company entered into an amendment to the Credit Agreement to increase the RCF from $250.0 million to $300.0 million and to include ING Capital LLC as an incremental lender on the RCF. On March 1, 2021, the Company entered into a fifth amendment to the Credit Agreement to, among other things, (i) extend the maturity date of the RCF to March 2025 and (ii) permit the Company to obtain one or more increases of the RCF, which is currently in the amount of $300.0 million, in an aggregate amount of up to $100.0 million in incremental loans and commitments, subject to certain conditions, including obtaining commitments from relevant lenders to provide such increase.
On May 2, 2022, the Company entered into an amendment (the “May Amendment”) to the Credit Agreement to increase the RCF from $300.0 million to $390.0 million and to include Goldman Sachs Bank USA as a lender on the RCF.
On November 9, 2022, the Company entered into an amendment (the “November Amendment”) to the RCF. The November Amendment, among other things, (1) modifies the financial covenants to provide greater flexibility under the consolidated net leverage ratio requirement through the December 31, 2023 test date, with the ratio returning to the original level as outlined in the RCF starting with the March 31, 2024 test date (the “Amendment Period”), (2) allows up to $50 million for integration costs or costs associated with establishing new facilities and certain costs associated with LCM adjustments at Rochester to be excluded from the calculation of Consolidated EBITDA for purposes of the RCF, (3) increases the interest rate on certain borrowings through early 2023, (4) requires the Company to repay outstanding amounts under the RCF if cash-on-hand exceeds $60 million during the Amendment Period, and (5) restricts certain payments and the incurrence of certain liens during the Amendment Period.
The RCF is secured by substantially all of the assets of the Company and its U.S. subsidiaries, including the land, mineral rights and infrastructure at the Kensington, Rochester and Wharf mines as well as a pledge of the shares and other equity interests of certain of the Company’s subsidiaries. The Credit Agreement contains representations and warranties and affirmative and negative covenants that are usual and customary, including representations, warranties, and covenants that, among other things, restrict the ability of the Company and its subsidiaries to incur additional debt, incur or permit liens on assets, make investments and acquisitions, consolidate or merge with any other company, engage in asset sales and make dividends and distributions. The Credit Agreement requires the Company to meet certain financial covenants, including a senior secured leverage ratio, a consolidated net leverage ratio and a consolidated interest coverage ratio. Obligations under the RCF may be accelerated upon the occurrence of certain customary events of default.
At December 31, 2022, the Company had $80.0 million drawn at an interest rate of 7.9%, $29.6 million in outstanding letters of credit and $280.4 million available under the RCF. Future borrowing may be subject to certain financial covenants.
Finance Lease Obligations
From time to time, the Company acquires mining equipment and facilities under finance lease agreements. In the year ended December 31, 2022, the Company entered into new lease financing arrangements for mining equipment at Rochester and Kensington. Coeur secured a finance lease package for nearly $60.0 million in 2021, of which $55.7 million has been funded as of December 31, 2022. This package is earmarked for planned equipment purchases for Rochester’s POA 11 in 2021, 2022 and 2023 and has an interest rate of 5.2%. All finance lease obligations are recorded, upon lease inception, at the present value of future minimum lease payments. See Note 9 -- Leases for additional qualitative and quantitative disclosures related to finance leasing arrangements.
Interest Expense
 Year Ended December 31,
In thousands202220212020
2024 Senior Notes$— $2,591 $13,513 
2029 Senior Notes19,219 16,016 — 
Revolving Credit Facility8,503 2,296 3,165 
Finance lease obligations5,084 4,632 3,634 
Amortization of debt issuance costs2,052 1,726 1,525 
Other debt obligations166 303 344 
Capitalized interest(11,163)(11,113)(1,473)
Total interest expense, net of capitalized interest$23,861 $16,451 $20,708 
v3.22.4
Reclamation
 12 Months Ended
Dec. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]  
RECLAMATION RECLAMATION
Reclamation and mine closure costs are based principally on legal and regulatory requirements. Management estimates costs associated with reclamation of mining properties. On an ongoing basis, management evaluates its estimates and assumptions, and future expenditures could differ from current estimates. The estimated reclamation and mine closure costs were discounted using credit adjusted, risk-free interest rates ranging from 7.4% to 10.1%. The asset retirement obligation increased in 2022 due to overall inflationary impacts, increased reclamation and mine closure costs at Rochester associated with work completed to date for POA 11 and additional costs at Wharf and Rochester associated with the existing open pit and leach pad operations.
Changes to the Company’s asset retirement obligations for its operating sites are as follows:
Year Ended December 31,
In thousands20222021
Asset retirement obligation - Beginning$181,888 $139,274 
Accretion14,232 11,988 
Additions and changes in estimates13,001 34,927 
Disposition of Sterling/Crown exploration properties(1,840)— 
Settlements(4,850)(4,301)
Asset retirement obligation - Ending$202,431 $181,888 
v3.22.4
Income and Mining Taxes
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
INCOME AND MINING TAXES INCOME AND MINING TAXES
The components of Income (loss) before income taxes are below:
 Year Ended December 31,
In thousands202220212020
United States$(107,477)$(34,196)$40,890 
Foreign44,028 37,832 21,782 
Total$(63,449)$3,636 $62,672 
The components of the consolidated Income and mining tax (expense) benefit from continuing operations are below:
Year Ended December 31,
In thousands202220212020
Current:   
United States$(21)$25 $226 
United States — State mining taxes(2,936)(5,691)(8,384)
United States — Foreign withholding tax(300)(862)(800)
Canada(305)— 232 
Mexico(29,546)(31,175)(36,066)
Other— — 33 
Deferred:
United States215 (651)(49)
United States — State mining taxes5,558 1,037 (354)
Canada254 1,224 — 
Mexico12,423 1,135 8,117 
Other— — — 
Income tax (expense) benefit$(14,658)$(34,958)$(37,045)
The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
 Year Ended December 31,
In thousands202220212020
Income and mining tax (expense) benefit at statutory rate$13,249 $(764)$(13,161)
State tax provision from continuing operations2,871 2,009 (152)
Change in valuation allowance(36,670)(28,615)(17,522)
Percentage depletion3,538 4,968 5,056 
Uncertain tax positions655 920 2,321 
U.S. and foreign permanent differences365 4,105 3,844 
Foreign exchange rates(145)(384)1,390 
Foreign inflation and indexing2,897 (1,087)684 
Foreign tax rate differences(4,994)(4,901)(3,971)
Mining, foreign withholding, and other taxes(11,070)(12,599)(17,457)
Sale of non-core assets15,447 — — 
Other, net(801)1,390 1,923 
Income and mining tax (expense) benefit$(14,658)$(34,958)$(37,045)
At December 31, 2022 and 2021, the significant components of the Company’s deferred tax assets and liabilities are below:
 Year Ended December 31,
In thousands20222021
Deferred tax liabilities:  
Royalty and other long-term debt— 1,495 
 $— $1,495 
Deferred tax assets:
Net operating loss carryforwards$282,776 $267,944 
Mineral properties31,095 6,525 
Property, plant, and equipment12,562 13,161 
Mining royalty tax7,440 8,147 
Capital loss carryforwards1,784 15,404 
Asset retirement obligation44,413 39,262 
Unrealized foreign currency loss and other— 1,013 
Accrued expenses30,379 20,589 
Tax credit carryforwards16,167 26,594 
Other long-term assets3,914 — 
 430,530 398,639 
Valuation allowance(444,989)(430,053)
 (14,459)(31,414)
Net deferred tax liabilities$14,459 $32,909 
A valuation allowance is provided for deferred tax assets for which it is more likely than not that the related tax benefits will not be realized. The Company analyzes its deferred tax assets and, if it is determined that the Company will not realize all or a portion of its deferred tax assets, it will record or increase a valuation allowance. Conversely, if it is determined that the Company will ultimately be more likely than not able to realize all or a portion of the related benefits for which a valuation allowance has been provided, all or a portion of the related valuation allowance will be reduced. There are a number of factors that impact the Company’s ability to realize its deferred tax assets. Based upon this analysis, the Company has recorded valuation allowances as follows:
 Year Ended December 31,
In thousands20222021
U.S. $245,899 $228,942 
Canada178,310 165,561 
Mexico441 13,277 
New Zealand19,993 21,822 
Other346 451 
 $444,989 $430,053 
The Company has the following tax attribute carryforwards at December 31, 2022, by jurisdiction:
In thousandsU.S.CanadaMexicoNew ZealandOtherTotal
Regular net operating losses$535,016 $442,941 $1,046 $71,117 $977 $1,051,097 
Expiration years2024-2037, Indefinite2028-20422029-2033Indefinite2025-2027
Capital losses— — — — — — 
Foreign tax credits10,864 — — — — 10,864 
As of December 31, 2022, for U.S. income tax purposes, the Company has federal and state net operating loss carryforwards of $535.0 million and $425.2 million, respectively. U.S. net operating loss carryforwards of $320.1 million arising before December 31, 2017 have a 20-year expiration period, the earliest of which could expire in 2024. U.S. net operating loss carryforwards of $214.9 million arising in 2018 and future periods have an indefinite carryforward period. Foreign tax credits expire if unused beginning in 2023.
The utilization of U.S. net operating loss carryforwards, tax credit carryforwards, and recognized built-in losses may be subject to limitation under the rules regarding a change in stock ownership as determined by the Internal Revenue Code and state tax laws. Section 382 of the Internal Revenue Code of 1986, as amended, imposes annual limitations on the utilization of net operating loss carryforwards, tax credit carryforwards, and certain built-in losses upon an ownership change as defined under that Section. Generally, an ownership change may result from transactions that increase the aggregate ownership of certain shareholders in the Company’s stock by more than 50 percentage points over a three-year testing period. If the Company experiences an ownership change, an annual limitation would be imposed on certain of the Company’s tax attributes, including net operating losses and certain other losses, credits, deductions or tax basis. Management has determined that the Company experienced ownership changes during 2002, 2003, 2007, and 2015 for purposes of Section 382. Based on management’s calculations, the Company does not expect any of its U.S. tax attributes to expire unused as a result of the Section 382 annual limitations. However, the annual limitations may impact the timeframe over which the net operating loss carryforwards can be used, potentially impacting cash tax liabilities in a future period. The U.S. federal tax credits and state net operating losses may potentially be limited as well. We continue to maintain a full valuation allowance on our US net deferred tax assets since it is more likely than not that the related tax benefits will not be realized.
The Company may also experience ownership changes in the future as a result of subsequent shifts in our stock ownership. As a result, if the Company earns U.S. federal taxable income, it may be limited in the ability to (1) recognize current deductions on built-in loss assets and (2) offset this income with our pre-change net operating loss carryforwards and other tax credit carryforwards, which may be subject to limitations, potentially resulting in increased future tax liability to us. Under the Tax Cuts and Jobs Act of 2017 (“TCJA”), federal net operating losses incurred in 2018 and in future years may be carried forward indefinitely, but the deductibility of such federal net operating losses is limited to 80% of future taxable income. The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act suspended the 80% limitation on losses incurred in 2018 and in future years, for tax years beginning before January 1, 2021. The Company does not expect this to impact its net operating loss usage.
The Company intends to indefinitely reinvest earnings from Mexican operations.
A reconciliation of the beginning and ending amount related to unrecognized tax benefits is below (in thousands):
Unrecognized tax benefits at December 31, 2020$723 
Gross increase to current period tax positions— 
Gross increase to prior period tax positions
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations(428)
Unrecognized tax benefits at December 31, 2021$295 
Gross increase to current period tax positions— 
Gross increase to prior period tax positions24 
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations(315)
Unrecognized tax benefits at December 31, 2022$4 
At December 31, 2022, 2021, and 2020, $4 thousand, $0.3 million, and $0.7 million, respectively, of these gross unrecognized benefits would, if recognized, decrease the Company’s effective tax rate.
The Company operates in numerous countries around the world and is subject to, and pays annual income taxes under, the various income tax regimes in the countries in which it operates. The Company has historically filed, and continues to file, all required income tax returns and paid the taxes reasonably determined to be due. The tax rules and regulations in many countries are highly complex and subject to interpretation. From time to time, the Company is subject to a review of its historic income tax filings and, in connection with such reviews, disputes can arise with the taxing authorities over the interpretation or application of certain rules to the Company’s business conducted within the country involved.
The Company files income tax returns in various U.S. federal and state jurisdictions, in all identified foreign jurisdictions, and various others. The statute of limitations remains open from 2019 for the US federal jurisdiction and from 2016 for certain other foreign jurisdictions. As a result of statutes of limitations that will begin to expire within the next 12 months in various jurisdictions and possible settlement of audit-related issues with taxing authorities in various jurisdictions with respect to which none of these issues are individually significant, the Company believes that it is reasonably possible that the total amount of its unrecognized income tax liability will decrease less than $0.1 million in the next 12 months.
The Company classifies interest and penalties associated with uncertain tax positions as a component of income tax expense and recognized interest and penalties of nil, $0.4 million, and $1.1 million at December 31, 2022, 2021, and 2020, respectively.
v3.22.4
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2022
Share-based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
The Company has stock incentive plans for executives and eligible employees. Stock awards include restricted stock, performance shares and stock options. Stock-based compensation expense for the years ended December 31, 2022, 2021, and 2020 was $10.0 million, $13.7 million and $8.5 million, respectively. At December 31, 2022, there was $7.8 million of unrecognized stock-based compensation cost which is expected to be recognized over a weighted-average remaining vesting period of 1.5 years.
    Restricted Stock
Restricted stock granted under the Company’s incentive plans is accounted for based on the market value of the underlying shares on the date of grant and generally vest in equal installments annually over three years. Restricted stock awards are accounted for as equity awards. Holders of restricted stock are entitled to vote the shares and to receive any dividends declared on the shares.
The following table summarizes restricted stock activity for the years ended December 31, 2022, 2021, and 2020:
 Restricted Stock
Number of
Shares		Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20192,184,675 $5.89 
Granted1,676,634 5.13 
Vested(928,778)6.46 
Canceled/Forfeited(207,807)5.36 
Outstanding at December 31, 20202,724,724 $5.26 
Granted932,442 8.88 
Vested(1,179,857)5.53 
Canceled/Forfeited(332,505)5.83 
Outstanding at December 31, 20212,144,804 $6.60 
Granted2,056,121 4.07 
Vested(1,114,513)6.08 
Canceled/Forfeited(301,802)5.74 
Outstanding at December 31, 20222,784,610 $5.05 
At December 31, 2022, there was $4.3 million of unrecognized compensation cost related to restricted stock awards to be recognized over a weighted-average period of 1.3 years.
Performance Shares
Performance shares granted under the Company’s incentive plans are accounted for as equity awards at fair value using a Monte Carlo simulation valuation model. Performance shares granted during and subsequent to 2019 will vest at the end of a three-year service period if internal performance metrics are met, with the number of shares vesting impacted by the inclusion of a modifier based upon a relative stockholder return metric. The relative stockholder return metric is included in the determination of the grant date fair value of the performance shares; however, the recognition of compensation cost for performance share awards is based on the results of the internal performance metrics. Performance shares granted prior to 2019 vested at the end of the three-year service period if relative stockholder return and internal performance metrics were met. The existence of a market condition required recognition of compensation cost for the performance share awards over the requisite period regardless of whether the relative stockholder return metric was met.
The following table summarizes performance shares activity for the years ended December 31, 2022, 2021, and 2020:
 Performance Shares
Number of
Shares		Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20191,214,145 $6.93 
Granted (1)
1,343,953 3.95 
Vested(54,132)11.47 
Canceled/Forfeited (1)
(168,864)10.71 
Outstanding at December 31, 20202,335,102 $4.83 
Granted (2)
602,933 10.13 
Vested(143,312)7.39 
Canceled/Forfeited (2)
(404,710)6.12 
Outstanding at December 31, 20212,390,013 $5.80 
Granted (3)
1,325,418 4.53 
Vested(824,064)5.54 
Canceled/Forfeited (3)
(316,830)6.11 
Outstanding at December 31, 20222,574,537 $5.26 
(1) Includes 6,226 additional shares granted and 143,808 shares cancelled in connection with the vesting of the 2017 award in 2020 due to above-target and below target performance, respectively, in accordance with the terms of the award.
(2) Includes 1,421 additional shares granted and 141,894 shares cancelled in connection with the vesting of the 2018 award in 2021 due to above-target and below target performance, respectively, in accordance with the terms of the award.
(3) Includes 175,828 additional shares granted in connection with the vesting of the 2019 award in 2022 due to above-target in accordance with the terms of the award.
At December 31, 2022, there was $3.5 million of unrecognized compensation cost related to performance shares to be recognized over a weighted average period of 1.7 years.
Stock Options and Stock Appreciation Rights
Stock options and stock appreciation rights (SARs) granted under the Company’s incentive plans generally vest over three years and are exercisable over a period not to exceed ten years from the grant date. The exercise price of stock options is equal to the fair market value of the shares on the date of the grant. The value of each stock option award is estimated using the Black-Scholes option pricing model. Stock options are accounted for as equity awards and SARs are accounted for as liability awards and remeasured at each reporting date. SARs, when vested, provide the participant the right to receive cash equal to the excess of the market price of the shares over the exercise price when exercised.
The following table summarizes stock option and SAR activity for the years ended December 31, 2022, 2021, and 2020:
 Stock OptionsSARs
SharesWeighted
Average
Exercise
Price		SharesWeighted
Average
Exercise
Price
Outstanding at December 31, 2019291,779 $14.05 32,282 $15.40 
Exercised(30,401)5.57 — — 
Canceled/forfeited(39,105)12.77 — — 
Expired— — (32,282)15.40 
Outstanding at December 31, 2020222,273 $15.44 — — 
Exercised(57,721)7.74 — — 
Canceled/forfeited(16,455)18.45 — — 
Expired(16,844)27.45 — — 
Outstanding at December 31, 2021131,253 $16.91 — — 
Canceled/forfeited(5,598)11.88 — — 
Expired(31,667)25.19 — — 
Outstanding at December 31, 202293,988 $14.41 — — 
The following table summarizes outstanding stock options as of December 31, 2022.
Range of
Exercise Price		Number
Outstanding		Weighted Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Life (Years)		Aggregate Intrinsic Value (in thousands)
$ 0.00-$10.0054,330 $7.49 3.4NA
$10.00-$20.00— $— 0.0NA
$20.00-$30.0039,658 $23.9 0.1NA
Outstanding93,988 $14.41 2.0$— 
Vested and expected to vest93,988 $14.41 2.0$— 
Exercisable93,988 $14.41 2.0$— 
The total intrinsic value of options exercised for the year ended December 31, 2022 was nil. Cash received from options exercised for the year ended December 31, 2022 was nil and there was no related tax benefit. The grant date fair value for stock options vested during the years ended December 31, 2022, 2021, and 2020 was nil.
v3.22.4
Fair Value Measurements
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
 Year Ended December 31,
In thousands202220212020
Change in the value of equity securities(1)
$(63,529)$(10,476)$7,601 
Exchange agreement embedded derivative— 9,933 — 
Termination of gold zero cost collars(3,139)— — 
Fair value adjustments, net$(66,668)$(543)$7,601 
(1) Includes unrealized losses on held equity securities of $47.9 million, $10.4 million, and $16.2 million for the years ended December 31, 2022, 2021 and 2020, respectively.
Accounting standards establish a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1), secondary priority to quoted prices in inactive markets or observable inputs (Level 2), and the lowest priority to unobservable inputs (Level 3).
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
 Fair Value at December 31, 2022
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Equity securities including warrants$44,152 $43,893 $259 $— 
Provisional metal sales contracts299 — 299 — 
Gold forwards12,343 — 12,343 — 
$56,794 $43,893 $12,901 $— 
Liabilities:
Provisional metal sales contracts$10 $— $10 $— 
 
 Fair Value at December 31, 2021
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Equity securities$132,197 $132,197 $— $— 
Provisional metal sales contracts86 — 86 — 
$132,283 $132,197 $86 $— 
Liabilities:
Gold zero cost collars
$1,212 $— $1,212 $— 
Provisional metal sales contracts162 — 162 — 
$1,374 $— $1,374 $— 
The Company’s investments in equity securities are recorded at fair market value in the financial statements based primarily on quoted market prices. Such instruments are classified within Level 1 of the fair value hierarchy. The common share purchase warrants the Company received as consideration in the La Preciosa project sale are valued using a pricing model with inputs derived from observable market data, including quoted market prices and quoted interest curve rates. The model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy.
The Company’s provisional metal sales contracts include concentrate and certain doré sales contracts that are valued using pricing models with inputs derived from observable market data, including forward market prices.
The Company’s gold forward contracts are valued using pricing models with inputs derived from observable market data, including forward market prices, yield curves, credit spreads.
No assets or liabilities were transferred between fair value levels in the year ended December 31, 2022.
In May 2021, the Company entered into a Share Exchange Agreement (the “Exchange Agreement”) with Orion Co-VI Ltd. (“Orion”). Pursuant to the Exchange Agreement, Orion sold 11,067,714 common shares of Victoria Gold to the Company. As consideration for the purchase of Victoria Gold shares, Coeur issued 12,785,485 shares of its common stock to Orion. The Exchange Agreement provided that Orion may be entitled to additional Coeur shares in the event Coeur acquires Victoria in the future for a higher per share consideration, subject to the terms and conditions of the Exchange Agreement. The Company determined that the potential for additional share consideration in the Exchange Agreement represents an embedded derivative that requires bifurcation. The obligation to deliver additional Coeur shares pursuant to the Exchange Agreement expired in October 2021 and the outstanding liability was written off.
The following tables present the changes in the fair value of the Company's Level 3 financial assets and liabilities in the year ended December 31, 2021.
December 31, 2021
In thousandsBalance at the beginning of the periodInitial valuationRevaluationSettlementsBalance at the
end of the
period
Liabilities:
Exchange agreement embedded derivative$— $9,933 $(9,933)$— $— 
The fair value of financial assets and liabilities carried at book value in the financial statements at December 31, 2022 and December 31, 2021 is presented in the following table:
 December 31, 2022
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Assets:
Promissory note$4,926 $4,579 $— $4,579 $— 
Deferred cash consideration$7,677 $7,317 $— $7,317 $— 
Liabilities:
2029 Senior Notes(1)
$369,212 $291,924 $— $291,924 $— 
Revolving Credit Facility(2)
$80,000 $80,000 $— $80,000 $— 
(1) Net of unamortized debt issuance costs of $5.8 million
(2) Unamortized debt issuance costs of $3.6 million included in Other Non-Current Assets.
 December 31, 2021
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Liabilities:
2029 Senior Notes(1)
$368,273 $337,384 $— $337,384 $— 
Revolving Credit Facility(2)
$65,000 $65,000 $— $65,000 $— 
(1) Net of unamortized debt issuance costs of $6.7 million.
(2) Unamortized debt issuance costs of $2.4 million included in Other Non-Current Assets.
The fair value of the 2029 Senior Notes was estimated using quoted market prices. The fair value of the RCF approximates book value as the liability is secured, has a variable interest rate, and lacks significant credit concerns.
As further discussed in Note 21 -- Dispositions, the consideration for the sale of La Preciosa project was a promissory note payable to the Company that matures in March 2023 and deferred cash consideration payable on the first anniversary of initial production from any portion of the La Preciosa project. These assets were valued using the pricing model with inputs derived from observable market data, including synthetic credit rating and quoted discount rate. The model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy.
In addition, the Company has assets initially measured at fair value at inception and remeasured at fair value on a nonrecurring basis such as the royalties and contingent consideration received in connection with dispositions. The consideration for the sale of La Preciosa project also included two royalties: a 1.25% net smelter returns royalty on properties covering the Gloria and Abundancia areas of the La Preciosa project and a 2.00% gross value royalty on all areas of the La Preciosa project other than the Gloria and Abundancia areas, and contingent consideration of $0.25 per silver equivalent ounce (adjusted for inflation) on any new mineral reserves discovered and declared outside of the current resources area at the La Preciosa project, up to a maximum payment of $50.0 million. The fair value of the royalties and the contingent consideration assets were $11.2 million and $1.2 million, respectively, valued as of the date of closing of the transaction and are measured at fair value on a non-recurring basis. The fair value of the royalties and the contingent consideration were valued using Monte Carlo simulation models. The model inputs include significant unobservable inputs and involve significant management judgment. The significant unobservable inputs included assumptions related to metal prices which assumed silver prices ranging from $22 to $25 per ounce and gold prices ranging from $1,700 to $1,930 per ounce as well as volatility assumptions for silver and gold prices (33.5% and 19.0%, respectively), and an assumed weighted average cost of capital of 15.5%. Such instruments are classified as Level 3 of the fair value hierarchy.
As further discussed in Note 21 -- Dispositions, the consideration for the sale of Sterling/Crown exploration properties included the right to an additional payment of $50.0 million should the Buyer, its affiliates or its successors report gold resources in the Sterling/Crown exploration properties (including any in-situ ounces mined after the closing of the Transaction) equal to or greater than 3,500,000 gold ounces, subject to certain additional terms and conditions detailed in the stock purchase agreement. The fair value of the contingent consideration asset of $13.0 million valued as of the date of closing of the transaction was valued using a discounted cash flow model and is measured at fair value on a non-recurring basis. The model inputs include significant unobservable inputs, involve significant management judgment and is classified as Level 3 of the fair value hierarchy. The significant unobservable inputs included managements assumption related to the probability (75%) and timing (ranging from 5 years to 30 years) of achieving reported gold resources equal to or greater than 3,500,000 gold ounces and a discount rate of 8.1%.
v3.22.4
Derivative Financial Instruments
 12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS & HEDGING ACTIVITIES
The Company is exposed to various market risks, including the effect of changes in metal prices, foreign currency exchange rates and interest rates, and uses derivatives to manage financial exposures that occur in the normal course of business. Derivative gains and losses are included in operating cash flows in the period in which they contractually settle. The Company does not hold or issue derivatives for trading or speculative purposes.
The Company may elect to designate certain derivatives as hedging instruments under U.S. GAAP. The Company formally documents all relationships between designated hedging instruments and hedged items as well as its risk management objectives and strategies for undertaking hedge transactions. This process includes linking all derivatives designated as hedges to either recognized assets or liabilities or forecasted transactions and assessing, both at inception and on an ongoing basis, the effectiveness of the hedging relationships.
Derivatives Not Designated as Hedging Instruments
Provisional Metal Sales
The Company enters into sales contracts with third-party smelters, refiners and off-take customers which, in some cases, provide for a provisional payment based upon preliminary assays and quoted metal prices. The provisionally priced sales contracts contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable recorded at the forward price at the time of sale. The embedded derivatives do not qualify for hedge accounting and are marked to market through earnings each period until final settlement.
Exchange Agreement Embedded Derivative
The Exchange Agreement provided that Orion may be entitled to additional Coeur shares in the event Coeur acquires Victoria in the future for a higher per share consideration, subject to the terms and conditions of the Exchange Agreement. The Company determined that the potential for additional share consideration in the Exchange Agreement represents an embedded derivative that requires bifurcation. The accounting treatment of derivative financial instruments required that the Company record the fair value of the embedded derivative as of the inception date of the Exchange Agreement and adjust the fair value as of each subsequent balance sheet date. The obligation to deliver additional Coeur shares pursuant to the Exchange Agreement expired on October 31, 2021 and the outstanding liability was written off.
Zero Cost Collars
To protect the Company’s exposure to fluctuations in metal prices the Company entered into Asian (or average value) put and call option contracts in net-zero-cost collar arrangements. The contracts were net cash settled monthly and, if the price of gold at the time of expiration is between the put and call prices, would expire at no cost to the Company. If the price of gold at the time of expiration was lower than the put prices or higher than the call prices, it would result in a realized gain or loss, respectively. The Company elected to designate these instruments as cash flow hedges of forecasted transactions at their inception. In the first quarter of 2022, the Company voluntarily de-designated hedge accounting for the zero cost collars and subsequently terminated the arrangements. The cost to terminate the zero cost collars was $7.7 million, of which $3.1 million was recognized in earnings and the remaining $4.6 million, which represents the fair value of the zero cost collars on the date of de-designation, was retained in accumulated other comprehensive income (loss) (“AOCI”) and was recognized in earnings in 2022 as the forecasted transactions occurred.
At December 31, 2022, the Company had the following derivative instruments that settle as follows:
In thousands except average prices and notional ounces20232024 and Thereafter
Provisional gold sales contracts$26,004 $— 
Average gold price per ounce$1,786 $— 
Notional ounces14,556 — 
    The following summarizes the classification of the fair value of the derivative instruments:
 December 31, 2022
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$299 $10 
 December 31, 2021
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$86 $162 
The following represent mark-to-market gains (losses) on derivative instruments in the years ended December 31, 2022, 2021, and 2020 respectively (in thousands):
 Year Ended December 31,
Financial statement lineDerivative202220212020
RevenueProvisional metal sales contracts$365 $(490)$959 
Fair value adjustments, netExchange agreement embedded derivative— 9,933 — 
Fair value adjustments, netTerminated zero cost collars(3,139)— — 
$(2,774)$9,443 $959 
Derivatives Designated as Cash Flow Hedging Strategies
To protect the Company’s exposure to fluctuations in metal prices the Company enters into forward contracts. The contracts are net settled monthly and if the actual price of gold at the time of expiration is lower than the fixed price or higher than the fixed prices, it would result in a realized gain or loss, respectively. The Company has elected to designate these instruments as cash flow hedges of forecasted transactions at their inception.
At December 31, 2022, the Company had the following derivative cash flow hedge instruments that settle as follows:
In thousands except average prices and notional ounces20232024 and Thereafter
Gold forwards
Average gold fixed price per ounce$1,957 $— 
Notional ounces130,500 — 
The effective portions of cash flow hedges are recorded in AOCI until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges of metal sales revenue are recognized as a component of Revenue in the same period as the related sale is recognized.
At inception, the Company performed an assessment of the forecasted transactions and the hedging instruments and determined that the hedging relationships are considered perfectly effective. Future assessments are performed to verify that critical terms of the hedging instruments and the forecasted transactions continue to match, and the forecasted transactions remain probable, as well as an assessment of any adverse developments regarding the risk of the counterparties defaulting on their commitments. There have been no such changes in critical terms or adverse developments.
As of December 31, 2022, the Company had $12.3 million of net after-tax gain in AOCI related to gains from cash flow hedge transactions, of which $12.3 million of net after-tax gains is expected to be recognized in its Consolidated Statement of Comprehensive Income (Loss) during the next 12 months. Actual amounts ultimately reclassified to net income are dependent on the price of gold for metal contracts.
The following summarizes the classification of the fair value of the derivative instruments designated as cash flow hedges:
 December 31, 2022
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$12,343 $— $— 
 December 31, 2021
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold zero cost collars$— $— $1,212 
The following table sets forth the pre-tax gains (losses) on derivatives designated as cash flow hedges that have been included in AOCI and the Consolidated Statement of Comprehensive Income (Loss) for the years ended December 31, 2022, 2021, and 2020, respectively (in thousands).
Year Ended December 31,
202220212020
 Amount of Gain (Loss) Recognized in AOCI
Gold forwards$42,043 $— $— 
Gold zero cost collars(4,598)22,733 $(32,345)
Foreign currency forward exchange contracts— 50 19,911 
$37,445 $22,783 $(12,434)
Amount of (Gain) Loss Reclassified From AOCI to Earnings
Gold forwards$(28,488)$— $— 
Gold zero cost collars4,598 938 $7,598 
Foreign currency forward exchange contracts— (13,797)(6,164)
$(23,890)$(12,859)$1,434 
Credit Risk
The credit risk exposure related to any derivative instrument is limited to the unrealized gains, if any, on outstanding contracts based on current market prices. To reduce counter-party credit exposure, the Company enters into contracts with institutions management deems credit-worthy and limits credit exposure to each institution. The Company does not anticipate non-performance by any of its counterparties.
v3.22.4
Additional Comprehensive Income (Loss) Detail
 12 Months Ended
Dec. 31, 2022
Other Income and Expenses [Abstract]  
Additional Comprehensive Income (Loss) Detail ADDITIONAL COMPREHENSIVE INCOME (LOSS) DETAIL
Pre-development, reclamation, and other consists of the following:
 Year Ended December 31,
In thousands202220212020
COVID-19$1,739 $6,618 $15,555 
Silvertip ongoing carrying costs20,963 24,928 16,384 
Silvertip suspension costs— — 7,164 
Gain on modification of right of use lease— — (4,051)
Asset retirement accretion14,232 11,988 11,754 
Other4,353 5,144 8,848 
Pre-development, reclamation and other$41,287 $48,678 $55,654 

Other, net consists of the following:
 Year Ended December 31,
In thousands202220212020
Foreign exchange gain (loss)$(850)$(2,779)$(2,245)
Gain (loss) on sale of assets64,429 4,111 (2,849)
VAT write-down— (25,982)— 
Gold zero cost collars novation fee— — (3,819)
Gain (loss) on sale of Manquiri NSR consideration— — 365 
RMC bankruptcy distribution1,651 — — 
Gain on Silvertip contingent consideration — — 955 
Other1,741 1,725 1,652 
Other, net$66,971 $(22,925)$(5,941)
v3.22.4
Net Income (Loss) Per Share
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Share NET INCOME (LOSS) PER SHARE
Basic net income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of the Company’s common stock outstanding during the period. Diluted net income (loss) per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock.
For the years ended December 31, 2022, 2021 and 2020, there were 952,664, 634,419 and 389,629 common stock equivalents, respectively, related to equity-based awards that were not included in the diluted earnings per share calculation as the shares would be antidilutive.
Year ended December 31,
In thousands except per share amounts202220212020
Net income (loss) available to common stockholders$(78,107)$(31,322)$25,627 
Weighted average shares:
Basic275,178 250,044 240,803 
Effect of stock-based compensation plans— — 1,746 
Diluted275,178 250,044 242,549 
Income (loss) per share:
Basic$(0.28)$(0.13)$0.11 
Diluted$(0.28)$(0.13)$0.11 

On March 18, 2022, the Company completed a $100.0 million “at the market” offering of its common stock, par value $0.01 per share (the “March Equity Offering”). The March Equity Offering was conducted pursuant to an ATM Equity Offering Sales Agreement, entered into on April 23, 2020 between the Company and BofA Securities, Inc. and RBC Capital Markets, LLC as sales agents. The Company sold a total of 22,053,275 shares of its common stock in the March Equity Offering at an average price of $4.53 per share, raising net proceeds (after sales commissions) of $98.0 million. Proceeds from the March Equity Offering were used to repay outstanding amounts under the RCF.
On December 11, 2022, the Company completed a $50.0 million “at the market” offering of its common stock, par value $0.01 per share (the “December Equity Offering”). The December Equity Offering was conducted pursuant to an ATM Equity Offering Sales Agreement, entered into on November 9, 2022 between the Company and BMO Capital Markets Corp. and RBC Capital Markets, LLC as sales agents. The Company sold a total of 14,766,835 shares of its common stock in the December Equity Offering at an average price of $3.39 per share, raising net proceeds (after sales commissions) of $49.2 million. Proceeds from the December Equity Offering were used to repay outstanding amounts under the RCF.
v3.22.4
Supplemental Guarantor Information
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
SUPPLEMENTAL GUARANTOR INFORMATION SUPPLEMENTAL GUARANTOR INFORMATIONThe following summarized financial information is presented to satisfy disclosure requirements of Rule 13-01 of Regulation S-X resulting from the guarantees by Coeur Alaska, Inc., Coeur Explorations, Inc., Coeur Rochester, Inc., Coeur South America Corp., Wharf Resources (U.S.A.), Inc. and its subsidiaries, Coeur Capital, Inc., Sterling Intermediate Holdco, Inc., and Coeur Sterling Holdings LLC (collectively, the “Subsidiary Guarantors”) of the 2029 Senior Notes. The following schedules present summarized financial information of (a) Coeur, the parent company and (b) the Subsidiary Guarantors (collectively the “Obligor Group”). The summarized financial information of the Obligor Group is presented on a combined basis with intercompany balances and transactions between entities in the Obligor Group eliminated. The Obligor Group’s amounts due from, amounts due to and transactions with certain wholly-owned domestic and foreign subsidiaries of the Company have been presented in separate line items, if they are material. Each of the Subsidiary Guarantors is 100% owned by Coeur and the guarantees are full and unconditional and joint and several obligations. There are no restrictions on the ability of Coeur to obtain funds from the Subsidiary Guarantors by dividend or loan.
SUMMARIZED BALANCE SHEET
Coeur Mining, Inc.Guarantor Subsidiaries
In thousandsDecember 31, 2022December 31, 2021December 31, 2022December 31, 2021
Current assets$73,692 $11,143 $137,432 $128,630 
Non-current assets(1)
$445,778 $473,145 $991,213 $830,330 
Non-guarantor intercompany assets$4,391 $19,803 $— $— 
Current liabilities$19,842 $18,353 $136,788 $130,307 
Non-current liabilities$42,028 $139,223 $603,800 $461,904 
Non-guarantor intercompany liabilities$58,257 $30,045 $150,550 $1,650 
(1) Coeur Mining, Inc.’s non-current assets includes its investment in Guarantor Subsidiaries.




SUMMARIZED STATEMENTS OF INCOME
YEAR ENDED DECEMBER 31, 2022
In thousandsCoeur Mining, Inc.Guarantor Subsidiaries
Revenue$— $482,202 
Gross profit (loss)$(833)$(12,199)
Net income (loss)$(78,107)$8,920 
v3.22.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Mexico Litigation Matters
As of December 31, 2022, $26.0 million in principal is due from the Mexican government associated with VAT that was paid under Coeur Mexicana, S.A. de C.V.’s (“Coeur Mexicana’s”) prior royalty agreement with a subsidiary of Franco-Nevada Corporation, which was terminated in 2016. Coeur Mexicana applied for and initially received VAT refunds associated with the royalty payments in the normal course; however, in 2011 the Mexican tax authorities began denying Coeur Mexicana’s VAT refunds based on the argument that VAT was not legally due on the royalty payments. Accordingly, Coeur Mexicana began to request refunds of the VAT as undue payments, which the Mexican tax authorities also denied. The Company has since been engaged in ongoing efforts to recover the VAT from the Mexican government (including through litigation and potential arbitration as well as refiling VAT refund requests). Despite a favorable ruling from Mexican tax courts in this matter in 2018, litigation has continued at the administrative, appeals court and supreme court levels, most of which has been determined unfavorably to Coeur based on interpretations of applicable law and prior court decisions which the Company and its counsel believe are contrary to legal precedent, conflicting and erroneous. While the Company believes that it remains legally entitled to be refunded the full amount of the VAT receivable and intends to rigorously continue its VAT recovery efforts, based on the continued failure to recover the VAT receivable and unfavorable Mexican court decisions, the Company determined to write down the carrying value of the VAT receivable at September 30, 2021. Coeur Mexicana has elected initiate an arbitration proceeding under Chapter 11 of the North American Free Trade Agreement, or NAFTA, to resolve the matter. Outcomes in NAFTA arbitration and the process for recovering funds even if there is a successful outcome in NAFTA arbitration can be lengthy and unpredictable.
In addition, ongoing litigation with the Mexican government associated with enforcement of water rights in Mexico, if unsuccessful, may impact Coeur Mexicana’s ability to access new sources of water to provide sufficient supply for its operations at Palmarejo and, if material, may have a material adverse impact on the Company’s operations and financial results.
Palmarejo Gold Stream
Coeur Mexicana sells 50% of Palmarejo gold production (excluding production from certain properties acquired in 2015) to a subsidiary of Franco-Nevada Corporation (“Franco-Nevada”) under a gold stream agreement for the lesser of $800 or spot price per ounce. In 2016, Coeur Mexicana received a $22.0 million deposit toward future deliveries under the gold stream agreement. In accordance with generally accepted accounting principles, although Coeur Mexicana has satisfied its
contractual obligation to repay the deposit to Franco-Nevada, the deposit is accounted for as deferred revenue and is recognized as revenue on a units-of-production basis as ounces are sold to Franco-Nevada. At December 31, 2022, the remaining unamortized balance was $7.4 million, which is included in Accrued liabilities and other and Other long-term liabilities on the Consolidated Balance Sheet.
Kensington Prepayment
In June 2019, Coeur amended its existing sales and purchase contract with a metal sales counterparty for gold concentrate from its Kensington mine (the “Amended Sales Contract”). From time to time thereafter, the Amended Sales Contract has been further amended to allow for additional prepayments, including in June 2021, to provide options for Coeur to receive up to two additional prepayments of up to $15.0 million each. The Company exercised these options and received $15.0 million both in June 2021 (the "June 2021 Prepayment") and in December 2021 (the "December 2021 Prepayment"). The June 2021 Prepayment was repaid in full before the December 2021 Prepayment was received. In March 2022, the Amended Sales Contract was further amended to allow for an additional $10.0 million prepayment which was made in March 2022 (the “March 2022 Prepayment”). The Amended Sales Contract was further amended in June 2022 to consolidate the December 2021 Prepayment and the March 2022 Prepayment into a single consolidated prepayment (the “June 2022 Consolidated Prepayment”), to extend the repayment period for the June 2022 Consolidated Prepayment, and to provide for future prepayments of up to $25.0 million on a semi-annual basis through the end of 2024, provided all prior outstanding prepayment amounts are paid before such future prepayments are made. In December 2022, the Company exercised an option to receive a $25.0 million prepayment (the “December 2022 Prepayment”) concurrent with the repayment of the June 2022 Consolidated Prepayment in full. The remaining deliveries of the December 2022 Prepayment are recognized as a deferred revenue liability and are presented in Accrued liabilities and other on the Consolidated Balance Sheet. Under the relevant terms of the Amended Sales Contract, Coeur maintains its exposure to the price of gold and expects to recognize the remaining value of the accrued liability by December 2024.
POA 11 Expansion Project
As of December 31, 2022, the Company had committed approximately $605 million of capital since inception of the POA 11 expansion project and approximately $494 million of the estimated project cost had been incurred. Total estimated project capital remains between $650 - $670 million. At the end of 2022, the project was 74% complete.
Progress on the Merrill-Crowe plant remained on schedule, including (i) completion of mechanical equipment setting, (ii) completion of process plant building cladding, (iii) commencement of electrical cable installation and continuation of piping installation, and (iv) successful completion of control systems programming and factory testing.
Further work on the crusher corridor also advanced, including (i) completion of the first lift of the primary crusher vertical concrete, (ii) continuation of steel erection and equipment installation above the secondary cone crushers in the secondary crusher area, (iii) continuation of steel erection and equipment installation above the tertiary HPGR crushers in the tertiary crusher area, and (iv) commencement of control systems programming.
Coeur made solid progress on the final major high-voltage electrical distribution and substation construction, while also advancing pre-commissioning planning and system development. Mechanical completion remains on target for mid-2023 with ramp-up and commissioning expected to take place during the second half of the year.
Other Commitments and Contingencies
As part of its ongoing business and operations, the Company and its affiliates are required to provide surety bonds, bank letters of credit, bank guarantees and, in some cases, cash as financial support for various purposes, including environmental remediation, reclamation, collateral for gold hedges and other general corporate purposes. As of December 31, 2022 and December 31, 2021, the Company had surety bonds totaling $326.8 million and $315.1 million, respectively, in place as financial support for future reclamation and closure costs. The obligations associated with these instruments are generally related to performance requirements that the Company addresses through its ongoing operations and from time-to-time, the Company may be required to post collateral, including cash or letters of credit which reduce availability under its revolving credit facility, to support these instruments. As the specific requirements are met, the beneficiary of the associated instrument cancels and/or returns the instrument to the issuing entity. Certain of these instruments are associated with operating sites with long-lived assets and will remain outstanding until closure. The Company believes it is in compliance with all applicable bonding obligations and will be able to satisfy future bonding requirements through existing or alternative means, as they arise.
v3.22.4
Additional Balance Sheet Detail and Supplemental Cash Flow Information
 12 Months Ended
Dec. 31, 2022
Supplemental Cash Flow Information [Abstract]  
Cash Flow, Supplemental Disclosures [Text Block] ADDITIONAL BALANCE SHEET DETAIL AND SUPPLEMENTAL CASH FLOW INFORMATIONAccrued liabilities and other consist of the following:
In thousandsDecember 31, 2022December 31, 2021
Accrued salaries and wages$29,868 $28,408 
Deferred revenue (1)
25,736 16,093 
Income and mining taxes7,874 13,856 
Accrued operating costs6,241 5,592 
Unrealized losses on derivatives10 1,374 
Taxes other than income and mining3,318 3,284 
Accrued interest payable8,256 8,038 
Operating lease liabilities11,560 11,301 
Accrued liabilities and other$92,863 $87,946 
(1) See Note 19 -- Commitments and Contingencies for additional details on deferred revenue liabilities
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the statement of financial position that total the same such amounts shown in the statement of cash flows in the year ended December 31, 2022 and 2021:
In thousandsDecember 31, 2022December 31, 2021
Cash and cash equivalents$61,464 $56,664 
Restricted cash equivalents1,705 1,625 
Total cash, cash equivalents and restricted cash shown in the statement of cash flows$63,169 $58,289 
Year ended December 31,
202220212020
Non-cash lease obligations arising from obtaining operating lease assets$4,120 $1,197 $3,531 
Non-cash financing and investing activities:
Finance lease obligations$43,810 $37,860 $5,283 
Capital expenditures, not yet paid$33,688 $40,904 $30,682 
Non-cash Silvertip contingent consideration$— $— $5,295 
Non-cash acquisition of Victoria Gold Corp common stock$— $118,777 $— 
Other cash flow information:
Interest paid$32,704 $19,655 $20,634 
Income and mining taxes paid$41,600 $57,200 $35,600 
v3.22.4
Disposals
 12 Months Ended
Dec. 31, 2022
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]  
Mergers, Acquisitions and Dispositions Disclosures DISPOSITIONS
On September 18, 2022, the Company entered into a Stock Purchase Agreement with AngloGold Ashanti (U.S.A.) Holdings Inc. and its affiliate (the “Buyer”) for the sale of 100% of the issued and outstanding shares of Coeur Sterling, Inc., a subsidiary of Coeur that operates the Sterling/Crown exploration properties near Beatty, Nevada, in exchange for: (A) a cash payment of $150.2 million at the closing of the transaction, subject to a customary purchase price adjustment and (B) the right to an additional payment of $50.0 million, valued at $13.0 million, should the Buyer, its affiliates or its successors report gold resources in the Sterling/Crown exploration properties (including any in-situ ounces mined after the closing of the Transaction) equal to or greater than 3,500,000 gold ounces, subject to certain additional terms and conditions detailed in the stock purchase agreement. The transaction was consummated on November 4, 2022. The Sterling/Crown sale resulted in a gain on the sale of $62.2 million, which was recognized in Other, Net in the Consolidated Statements of Comprehensive Income (Loss).
On October 27, 2021 the Company entered into a definitive agreement (the “La Preciosa Agreement”) to sell its La Preciosa project located in the State of Durango, Mexico to Avino (the “La Preciosa Sale”). The Company classified the La Preciosa project as held for sale as of December 31, 2021 and the associated assets and liabilities are classified separately on the Consolidated Balance Sheets. The major classes of assets and liabilities associated with the La Preciosa project as of December 31, 2021 are as follows:
In thousandsDecember 31, 2021
Cash and cash equivalents$234 
Receivables1,211
Prepaid expenses and other1,338
Property, plant and equipment, net1,626
Mining properties, net49,085
Other746 
TOTAL ASSETS$54,240 
Accounts payable$311 
Deferred tax liabilities10,958 
TOTAL LIABILITIES$11,269 
On March 21, 2022, the La Preciosa Sale was completed. Coeur and its subsidiaries received the following consideration at closing:
•$15.3 million cash,
•$5.0 million promissory note that matures prior to the first anniversary of the transaction closing, valued at $4.7 million,
•Equity consideration of 14.0 million units, consisting of one share of Avino common stock and one half of one common share purchase warrant of Avino common stock, valued at $13.7 million and $2.2 million, respectively. Common share purchase warrants are exercisable at $1.09 per share and expire September 2023.
•In addition, under the La Preciosa Agreement, Coeur is entitled to the following additional consideration:
•$8.8 million deferred cash consideration to be paid no later than the first anniversary of initial production from any portion of the La Preciosa project, valued at $7.4 million,
•Contingent payments of $0.25 per silver equivalent ounce (subject to an inflationary adjustment) on any new mineral reserves discovered and declared outside of the current resource area at the La Preciosa project, up to a maximum payment of $50.0 million, valued at $1.2 million, and
•Two royalties, valued at $11.2 million, covering the La Preciosa land package, including (i) a 1.25% net smelter returns royalty on properties covering the Gloria and Abundancia areas of the La Preciosa project and (ii) a 2.00% gross value royalty on all areas of the La Preciosa project other than the Gloria and Abundancia areas, offset by the amount of any new mineral reserve contingent payments made to Coeur.
The La Preciosa sale resulted in a gain on the sale of $1.5 million, which was recognized in Other, Net in the Consolidated Statements of Comprehensive Income (Loss).
v3.22.4
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Risks and Uncertainties [Policy Text Block]
Risks and uncertainties
As a mining company, the revenue, profitability and future rate of growth of the Company are substantially dependent on the prevailing prices for gold, silver, zinc and lead. The prices of these metals are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals stockpiles, global and regional demand and production, political and economic conditions and other factors. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and the quantities of reserves that the Company can economically produce. Further, the carrying value of the Company’s property, plant and equipment, net; mining properties, net; inventories and ore on leach pads are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.
In addition to changes in commodity prices, other factors such as changes in mine plans, increases in costs, geotechnical failures, changes in social, environmental or regulatory requirements and impacts of global events such as the COVID-19 pandemic could result in material impairment charges related to these assets.
Use of Estimates, Policy [Policy Text Block]
Use of Estimates
The Company's Consolidated Financial Statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”). The preparation of the Company's Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to metal prices and mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of production amortization calculations, environmental, reclamation and closure obligations, estimates of recoverable silver and gold in leach pad inventories, estimates of fair value for certain reporting units and asset impairments, valuation allowances for deferred tax assets, and the fair value and accounting treatment of financial instruments, equity securities, asset acquisitions, the allocation of fair value to assets and liabilities assumed in connection with business combinations, and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from the amounts estimated in these financial statements.
Mining Properties Held for Sale [Policy Text Block]
Properties Held for Sale
In determining whether to classify a property as held for sale, the Company considers whether: (i) management has committed to a plan to sell the property; (ii) the investment is available for immediate sale, in its present condition; (iii) the Company has initiated a program to locate a buyer; (iv) the Company believes that the sale of the property is probable; (v) the Company has received a significant non-refundable deposit for the purchase of the property; (vi) the Company is actively marketing the property for sale at a price that is reasonable in relation to its estimated fair value; and (vii) actions required for the Company to complete the plan indicate that it is unlikely that any significant changes will be made to the plan. If all of the above criteria are met, the Company classifies the property as held for sale.
At September 30, 2021, the La Preciosa project met the held for sale criteria. However, considering that the La Preciosa project was not an operating mine, the Company determined that the expected disposal of the La Preciosa project did not represent a strategic shift that had a major effect on the entity's results and operations, therefore, the applicable assets, liabilities presented at December 31, 2021 are classified on the Consolidated Balance Sheets as held for sale. The operating results for the applicable period presented are not presented separately as held for sale. The closing of the sale of the La Preciosa project occurred on March 21, 2022. See Note 21 -- Dispositions.
Revenue Recognition, Policy
Revenue Recognition
The Company produces doré and concentrate that is shipped to third-party refiners and smelters, respectively, for processing. The Company enters into contracts to sell its metal to various third-party customers which may include the refiners
and smelters that process the doré and concentrate. The Company’s performance obligation in these transactions is generally the transfer of metal to the customer.
In the case of doré shipments, the Company generally sells refined metal at market prices agreed upon by both parties. The Company also has the right, but not the obligation, to sell a portion of the anticipated refined metal in advance of being fully refined. When the Company sells refined metal or advanced metal, the performance obligation is satisfied when the metal is delivered to the customer. Revenue and Costs applicable to sales are recorded on a gross basis under these contracts at the time the performance obligation is satisfied.
Under the Company’s concentrate sales contracts with third-party smelters, metal prices are set on a specified future quotational period, typically one to three months, after the shipment date based on market prices. When the Company sells gold concentrate to the third-party smelters, the performance obligation is satisfied when risk of loss is transferred to the customer. The contracts, in general, provide for provisional payment based upon provisional assays and historical metal prices. Final settlement is based on the applicable price for the specified future quotational period and generally occurs three to six months after shipment. The Company’s provisionally priced sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of concentrates measured at the forward price at the time of sale. The embedded derivative does not qualify for hedge accounting and is adjusted to fair value through revenue each period until the date of final metal settlement.
The Company also sells concentrate under off-take agreements to third-party customers that are responsible for arranging the smelting of the concentrate. Prices can either be fixed or based on a quotational period. The quotational period varies by contract, but is generally a one-month period following the shipment of the concentrate. The performance obligation is satisfied when risk of loss is transferred to the customer.
The Company recognizes revenue from concentrate sales, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer.
For doré and off-take sales, the Company may incur a finance charge related to advance sales that is not considered significant and, as such, is not considered a separate performance obligation. In addition, the Company has elected to treat freight costs as a fulfillment cost under ASC 606 and not as a separate performance obligation.
The Company’s gold stream agreement with a subsidiary of Franco-Nevada Corporation (“Franco-Nevada”) provided for a $22.0 million deposit paid by Franco-Nevada in exchange for the right and obligation, commencing in 2016, to purchase 50% of a portion of Palmarejo gold production at the lesser of $800 or market price per ounce. Because there is no minimum obligation associated with the deposit, it is not considered financing, and each shipment is considered to be a separate performance obligation. The streaming agreement represents a contract liability under ASC 606, which requires the Company to ratably recognize a portion of the deposit as revenue for each gold ounce delivered to Franco-Nevada. The remaining unamortized balance is included in Accrued liabilities and other and Other long-term liabilities on the Consolidated Balance Sheets. See Note 19 -- Commitments and Contingencies for additional detail.
The following table presents a roll forward of the Franco-Nevada contract liability balance:
Year Ended December 31,
In thousands202220212020
Opening Balance$8,150 $9,376 $11,061 
Revenue Recognized(739)(1,226)(1,685)
Closing Balance$7,411 $8,150 $9,376 
In December 2021, the Company received a $15.0 million prepayment (the “December 2021 Prepayment”) for deliveries of gold concentrate from the Kensington mine pursuant to the Amended Sales Contract (as defined in Note 19 -- Commitments and Contingencies). In March 2022, the Company exercised an option to receive a $10.0 million prepayment (the “March 2022 Prepayment). The Amended Sales Contract was further amended in June 2022 to consolidate the remaining deliveries of $15.0 million and $10.0 million under the December 2021 Prepayment and March 2022 Prepayment (the “June 2022 Consolidated Prepayment”). In December 2022, the Company exercised an option to receive a $25.0 million prepayment (the “December 2022 Prepayment”) concurrent with the repayment of the June 2022 Consolidated Prepayment in full. The Amended Sales Contract represents a contract liability under ASC 606, which requires the Company to recognize ratably a portion of the deposit as revenue for each gold ounce delivered to the customer. The remaining contract liability is included in Accrued liabilities and other on the Consolidated Balance Sheets. See Note 19 -- Commitments and Contingencies for additional detail.
The following table presents a roll forward of the Amended Sales Contract liability balance:
Year Ended December 31,
In thousands202220212020
Opening Balance$15,016 $15,003 $15,009 
Additions36,020 30,013 30,177 
Revenue Recognized(26,020)(30,000)(30,183)
Closing Balance$25,016 $15,016 $15,003 
Recent Accounting Standards
Recently Issued Accounting Standards
In March 2022, the FASB issued ASU 2022-01, “Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method” which is intended to make amendments to the fair value hedge accounting previously issued in ASU 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities”. The new standard is effective for reporting periods beginning after December 15, 2022. The standard introduced the portfolio layer method allowing multiple hedged layers of a single closed portfolio when applying fair value hedge accounting. The Company plans to adopt the new derivatives and hedging standards effective January 1, 2023 and does not expect the new derivatives and hedging standard to have a material effect on our financial position, results of operations or cash flows.
Consolidation, Policy [Policy Text Block]
Principles of Consolidation
The Consolidated Financial Statements include the wholly-owned subsidiaries of the Company, the most significant of which are Coeur Mexicana S.A. de C.V., Coeur Rochester, Inc., Coeur Alaska, Inc., Wharf Resources (U.S.A.), Inc., and Coeur Silvertip Holdings Ltd. All intercompany balances and transactions have been eliminated.
Cash and Cash Equivalents, Policy [Policy Text Block]
Cash and Cash Equivalents
Cash and cash equivalents include all highly-liquid investments with an original maturity of three months or less. The Company minimizes its credit risk by investing its cash and cash equivalents with major U.S. and international banks and financial institutions located principally in the United States with a minimum credit rating of A1, as defined by Standard & Poor’s. The Company’s management believes that no concentration of credit risk exists with respect to the investment of its cash and cash equivalents. At certain times, amounts on deposit may exceed federal deposit insurance limits.
Receivables, Policy [Policy Text Block] ReceivablesTrade receivables and other receivable balances are reported at outstanding principal amounts, net of an allowance for doubtful accounts, if deemed necessary. Management evaluates the collectability of receivable account balances to determine the allowance, if any. Management considers the other party's credit risk and financial condition, as well as current and projected economic and market conditions, in determining the amount of the allowance. Receivable balances are written off when management determines that the balance is uncollectible.
Ore on Leach Pad [Policy Text Block]
Ore on Leach Pads
The heap leach process extracts silver and gold by placing ore on an impermeable pad and applying a diluted cyanide solution that dissolves a portion of the contained silver and gold, which are then recovered in metallurgical processes.
The Company uses several integrated steps to scientifically measure the metal content of ore placed on the leach pads. As the ore body is drilled in preparation for the blasting process, samples are taken of the drill residue which are assayed to determine estimated quantities of contained metal. The Company then processes the ore through crushing facilities where the output is again weighed and sampled for assaying. A metallurgical reconciliation with the data collected from the mining operation is completed with appropriate adjustments made to previous estimates. The crushed ore is then transported to the leach pad for application of the leaching solution. As the leach solution is collected from the leach pads, it is continuously sampled for assaying. The quantity of leach solution is measured by flow meters throughout the leaching and precipitation process. After precipitation, the product is converted to doré at the Rochester mine and a form of gold concentrate at the Wharf mine, representing the final product produced by each mine. The inventory is stated at lower of cost or net realizable value, with cost being determined using a weighted average cost method.
The historical cost of metal expected to be extracted within 12 months is classified as current and the historical cost of metals contained within the broken ore expected to be extracted beyond 12 months is classified as non-current. Ore on leach pads is valued based on actual production costs incurred to produce and place ore on the leach pad, less costs allocated to minerals recovered through the leach process.
The estimate of both the ultimate recovery expected over time and the quantity of metal that may be extracted relative to the time the leach process occurs requires the use of estimates, which are inherently inaccurate due to the nature of the leaching process. The quantities of metal contained in the ore are based upon actual weights and assay analysis. The rate at which the leach process extracts gold and silver from the crushed ore is based upon laboratory testing and actual experience of more than 20 years of leach pad operations at the Rochester mine and 30 years of leach pad operations at the Wharf mine. The assumptions used by the Company to measure metal content during each stage of the inventory conversion process includes estimated recovery rates based on laboratory testing and assaying. The Company periodically reviews its estimates compared to actual experience and revises its estimates when appropriate. The ultimate recovery will not be known until leaching operations cease. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis. As of December 31, 2022, the Company’s estimated recoverable ounces of gold and silver on the leach pads were 40,083 and 4.7 million, respectively.
Metal and Other Inventory [Policy Text Block]
Metal and Other Inventory
Inventories include concentrate, doré, and operating materials and supplies. The classification of inventory is determined by the stage at which the ore is in the production process. All inventories are stated at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. Concentrate and doré inventory includes product at the mine site and product held by refineries. Metal inventory costs include direct labor, materials, depreciation, depletion and amortization as well as overhead costs relating to mining activities.
Property, Plant and Equipment, Policy [Policy Text Block]
Property, Plant, and Equipment
Expenditures for new facilities, assets acquired pursuant to finance leases, new assets or expenditures that extend the useful lives of existing facilities are capitalized and depreciated using the straight-line method at rates sufficient to depreciate such costs over the shorter of estimated productive lives of such facilities, lease term, or the useful life of the individual assets. Productive lives range from 7 to 30 years for buildings and improvements and 3 to 10 years for machinery and equipment. Certain mining equipment is depreciated using the units-of-production method based upon estimated total proven and probable reserves.
Operational Mining Properties and Mine [Policy Text Block]
Mining Properties and Mine Development
Capitalization of mine development costs begins once all operating permits have been secured, mineralization is classified as proven and probable reserves and a final feasibility study has been completed. Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization are classified as proven and probable reserves and are capitalized if a project is in pre-production phase or expensed and classified as Exploration or Pre-development if the
project is not yet in pre-production. Mine development costs are amortized using the units-of-production method over the estimated life of the ore body generally based on recoverable ounces to be mined from proven and probable reserves. Interest expense allocable to the cost of developing mining properties and to construct new facilities is capitalized until assets are ready for their intended use.
Drilling and related costs incurred at the Company’s operating mines are expensed as incurred in Exploration, unless the Company can conclude with a high degree of confidence, prior to the commencement of a drilling program, that the drilling costs will result in the conversion of a mineral resource into mineral reserve. The Company’s assessment is based on the following factors: results from previous drill programs; results from geological models; results from a mine scoping study confirming economic viability of the resource; and preliminary estimates of mine inventory, ore grade, cash flow and mine life. In addition, the Company must have all permitting and/or contractual requirements necessary to have the right to and/or control of the future benefit from the targeted ore body. The costs of a drilling program that meet these criteria are capitalized as mine development costs. Drilling and related costs of approximately $21.6 million and $19.9 million at December 31, 2022 and 2021, respectively, were capitalized.
The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]
Impairment of Long-lived Assets
We review and evaluate our long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Asset impairment is considered to exist if the total estimated undiscounted pretax future cash flows are less than the carrying amount of the asset. In estimating future cash flows, assets are grouped at the lowest level for which there is identifiable cash flows that are largely independent of future cash flows from other asset groups. An impairment loss is measured by discounted estimated future cash flows, and recorded by reducing the asset's carrying amount to fair value. Future cash flows are estimated based on estimated quantities of recoverable minerals, expected gold, silver, lead and zinc prices (considering current and historical prices, trends and related factors), production levels, operating costs, capital requirements and reclamation costs, all based on life-of-mine plans.
Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization other than proven and probable reserves are included when determining the fair value of mine site asset groups at acquisition and, subsequently, in determining whether the assets are impaired. The term “recoverable minerals” refers to the estimated amount of gold, silver, lead and zinc that will be obtained after taking into account losses during ore processing and treatment. Estimates of recoverable minerals from exploration stage mineral interests are risk adjusted based on management’s relative confidence in such materials. The ability to achieve the estimated quantities of recoverable minerals from exploration stage mineral interests involves further risks in addition to those risk factors applicable to mineral interests where proven and probable reserves have been identified, due to the lower level of confidence that the identified mineral resources could ultimately be mined economically. Assets classified as exploration potential have the highest level of risk that the carrying value of the asset can be ultimately realized, due to the still lower level of geological confidence and economic modeling.
Gold, silver, zinc and lead prices are volatile and affected by many factors beyond the Company’s control, including prevailing interest rates and returns on other asset classes, expectations regarding inflation, speculation, currency values, governmental decisions regarding precious metals stockpiles, global and regional demand and production, political and economic conditions and other factors may affect the key assumptions used in the Company’s impairment testing. Various factors could impact our ability to achieve forecasted production levels from proven and probable reserves. Additionally, production, capital and reclamation costs could differ from the assumptions used in the cash flow models used to assess impairment. Actual results may vary from the Company’s estimates and result in additional Impairment of Long-lived Assets.
Restricted Assets Policy [Policy Text Block]
Restricted Assets
The Company, under the terms of its self-insurance and bonding agreements with certain banks, lending institutions and regulatory agencies, is required to collateralize certain portions of its obligations. The Company has collateralized these obligations by assigning certificates of deposit that have maturity dates ranging from three months to a year, to the respective institutions or agencies. At December 31, 2022 and 2021, the Company held certificates of deposit and cash under these agreements of $9.0 million and $9.1 million, respectively. The ultimate timing of the release of the collateralized amounts is dependent on the timing and closure of each mine and repayment of the facility. In order to release the collateral, the Company must seek approval from certain government agencies responsible for monitoring the mine closure status. Collateral could also be released to the extent the Company is able to secure alternative financial assurance satisfactory to the regulatory agencies. The Company believes there is a reasonable probability that the collateral will remain in place beyond a twelve-month period and has therefore classified these investments as long-term.
Lessee, Leases [Policy Text Block]
Leases
We determine if an arrangement is, or contains, a lease at the inception date. Operating leases are included in Other assets, non-current with the related liabilities included in Accrued liabilities and Other and Other long-term liabilities. Assets under finance leases, which primarily represent property and equipment, are included in Property, plant and equipment, net, with the related liabilities included in debt, current and debt, non-current on the Consolidated Balance Sheet.
Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We have elected to not recognize operating lease assets and liabilities for short-term leases that have a lease term of twelve months or less. Lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components which are accounted for as a single lease component. See Note 9 -- Leases for additional information related to the Company’s operating and finance leases.
Asset Retirement Obligation [Policy Text Block]
Reclamation
The Company recognizes obligations for the expected future retirement of tangible long-lived assets and other associated asset retirement costs. The fair value of a liability for an asset retirement obligation will be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. The fair value of the liability is added to the carrying amount of the associated asset and this additional carrying amount is depreciated over the life of the asset. An accretion cost, representing the increase over time in the present value of the liability, is recorded each period in Pre-development, reclamation, and other. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability is reduced. Future remediation costs for inactive mines are accrued based on management’s best estimate at the end of each period of the discounted costs expected to be incurred at the site. Such cost estimates include, where applicable, ongoing care and maintenance and monitoring costs. Changes in estimates are reflected prospectively in the period an estimate is revised. See Note 11 -- Reclamation for additional information.
Foreign Currency Transactions and Translations Policy [Policy Text Block]
Foreign Currency
The assets and liabilities of the Company’s foreign subsidiaries are measured using U.S. dollars as their functional currency. Revenues and expenses are remeasured at the average exchange rate for the period. Foreign currency gains and losses are included in the determination of net income or loss.
Derivatives, Policy [Policy Text Block]
Derivative Financial Instruments
The Company is exposed to various market risks, including the effect of changes in metal prices, foreign exchange rates and interest rates, and uses derivatives to manage financial exposures that occur in the normal course of business. The Company may elect to designate certain derivatives as hedging instruments under U.S. GAAP.
The Company, from time to time, uses derivative contracts to protect the Company’s exposure to fluctuations in metal prices and foreign exchange rates. The Company has elected to designate these instruments as cash flow hedges of forecasted transactions at their inception. Assuming normal market conditions, the change in the market value of such derivative contracts has historically been, and is expected to continue to be, highly effective at offsetting changes in price movements of the hedged item. The effective portions of cash flow hedges are recorded in Accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges of metal sales revenue are recognized as a component of Revenue in the same period as the related sale is recognized. Deferred gains and losses associated with cash flow hedges of foreign currency transactions are recognized as a component of Costs applicable to sales or Pre-development, reclamation and other in the same period the related expenses are incurred.
For derivatives not designated as hedging instruments, the Company recognizes derivatives as either assets or liabilities on the Consolidated Balance Sheets and measures those instruments at fair value. Changes in the value of derivative instruments not designated as hedging instruments are recorded each period in the Consolidated Statements of Comprehensive Income (Loss) in Fair value adjustments, net or Revenue. Management applies judgment in estimating the fair value of instruments that are highly sensitive to assumptions regarding commodity prices, market volatilities, and foreign currency exchange rates. See Note 15 -- Derivative Financial Instruments and Hedging Activities for additional information.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]
Stock-based Compensation
The Company estimates the fair value of stock options using the Black-Scholes option pricing model and stock appreciation rights (“SARs”) awards using market comparison. Stock options granted are accounted for as equity-based awards and SARs are accounted for as liability-based awards. The value of the SARs is remeasured at each reporting date. The Company estimates forfeitures of stock-based awards based on historical data and periodically adjusts the forfeiture rate. The adjustment of the forfeiture rate is recorded as a cumulative adjustment in the period the forfeiture estimate is changed. Compensation costs related to stock based compensation are included in General and administrative expenses, Costs applicable to sales, and Property, plant, and equipment, net as deemed appropriate.
The fair value of restricted stock is based on the Company's stock price on the date of grant. The fair value of performance leverage stock units with market conditions is determined using a Monte Carlo simulation model. Stock based compensation expense related to awards with a market or performance condition is generally recognized over the vesting period of the award utilizing the graded vesting method, while all other awards are recognized on a straight-line basis. The Company's estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee stock option exercise behaviors, additional stock option grants, estimates of forfeitures, the Company's performance, and related tax impacts. See Note 13 -- Stock-Based Compensation for additional information.
Income Tax, Policy [Policy Text Block]
Income and Mining Taxes
The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carryforwards, using enacted tax rates in effect in the years in which the differences are expected to reverse.
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. A valuation allowance has been provided for the portion of the Company’s net deferred tax assets for which it is more likely than not that they will not be realized.
Mineral Interests [Policy Text Block]
Mineral Interests
Significant payments related to the acquisition of land and mineral rights are capitalized. Prior to acquiring such land or mineral rights, the Company generally makes a preliminary evaluation to determine that the property has significant potential to develop an economic ore body. The time between initial acquisition and full evaluation of a property’s potential is variable and is determined by many factors including: location relative to existing infrastructure, the property’s stage of development, geological controls and metal prices. If a mineable ore body is discovered, such costs are amortized when production begins using the units-of-production method based on recoverable ounces to be mined from proven and probable reserves. If no mineable ore body is discovered, such costs are expensed in the period in which it is determined the property has no future economic value.
v3.22.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Summary of Contract Liability
The Company’s gold stream agreement with a subsidiary of Franco-Nevada Corporation (“Franco-Nevada”) provided for a $22.0 million deposit paid by Franco-Nevada in exchange for the right and obligation, commencing in 2016, to purchase 50% of a portion of Palmarejo gold production at the lesser of $800 or market price per ounce. Because there is no minimum obligation associated with the deposit, it is not considered financing, and each shipment is considered to be a separate performance obligation. The streaming agreement represents a contract liability under ASC 606, which requires the Company to ratably recognize a portion of the deposit as revenue for each gold ounce delivered to Franco-Nevada. The remaining unamortized balance is included in Accrued liabilities and other and Other long-term liabilities on the Consolidated Balance Sheets. See Note 19 -- Commitments and Contingencies for additional detail.
The following table presents a roll forward of the Franco-Nevada contract liability balance:
Year Ended December 31,
In thousands202220212020
Opening Balance$8,150 $9,376 $11,061 
Revenue Recognized(739)(1,226)(1,685)
Closing Balance$7,411 $8,150 $9,376 
In December 2021, the Company received a $15.0 million prepayment (the “December 2021 Prepayment”) for deliveries of gold concentrate from the Kensington mine pursuant to the Amended Sales Contract (as defined in Note 19 -- Commitments and Contingencies). In March 2022, the Company exercised an option to receive a $10.0 million prepayment (the “March 2022 Prepayment). The Amended Sales Contract was further amended in June 2022 to consolidate the remaining deliveries of $15.0 million and $10.0 million under the December 2021 Prepayment and March 2022 Prepayment (the “June 2022 Consolidated Prepayment”). In December 2022, the Company exercised an option to receive a $25.0 million prepayment (the “December 2022 Prepayment”) concurrent with the repayment of the June 2022 Consolidated Prepayment in full. The Amended Sales Contract represents a contract liability under ASC 606, which requires the Company to recognize ratably a portion of the deposit as revenue for each gold ounce delivered to the customer. The remaining contract liability is included in Accrued liabilities and other on the Consolidated Balance Sheets. See Note 19 -- Commitments and Contingencies for additional detail.
The following table presents a roll forward of the Amended Sales Contract liability balance:
Year Ended December 31,
In thousands202220212020
Opening Balance$15,016 $15,003 $15,009 
Additions36,020 30,013 30,177 
Revenue Recognized(26,020)(30,000)(30,183)
Closing Balance$25,016 $15,016 $15,003 
v3.22.4
Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Financial information relating to the reporting segments
Financial information relating to the Company’s segments is as follows (in thousands):
Year Ended December 31, 2022PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$157,595 $64,460 $201,859 $148,963 $— $— $572,877 
Silver sales145,839 65,203 634 1,083 — — 212,759 
Metal sales303,434 129,663 202,493 150,046 — — 785,636 
Costs and Expenses
Costs applicable to sales(1)
182,576 165,166 155,725 103,063 — — 606,530 
Amortization35,432 22,626 39,032 8,247 4,912 1,377 111,626 
Exploration6,605 4,627 6,637 — 4,628 4,127 26,624 
Other operating expenses4,372 7,340 1,870 1,947 22,322 42,896 80,747 
Other income (expense)
Fair value adjustments, net— — — — — (66,668)(66,668)
Interest expense, net(12)(810)(1,446)(66)(176)(21,351)(23,861)
Other, net(3)
3,204 (506)(21)506 (354)64,142 66,971 
Income and mining tax (expense) benefit(28,771)876 127 (2,868)— 15,978 (14,658)
Net Income (loss) $48,870 $(70,536)$(2,111)$34,361 $(32,392)$(56,299)$(78,107)
Segment assets(2)
$295,715 $809,116 $148,516 $105,209 $244,151 $67,275 $1,669,982 
Capital expenditures$42,648 $246,360 $31,456 $3,138 $24,797 $3,955 $352,354 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 16 -- Additional Comprehensive Income (Loss) Detail for additional detail
Year Ended December 31, 2021PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$150,098 $49,659 $214,635 $164,519 $— $— $578,911 
Silver sales170,176 81,163 370 2,208 — — 253,917 
Metal sales320,274 130,822 215,005 166,727 — — 832,828 
Costs and Expenses
Costs applicable to sales(1)
153,655 131,240 133,065 93,579 — — 511,539 
Amortization36,062 20,187 54,933 11,038 4,797 1,298 128,315 
Exploration8,561 6,016 6,656 143 15,287 14,506 51,169 
Other operating expenses4,443 5,886 6,299 1,786 25,031 45,632 89,077 
Other income (expense)
Loss on debt extinguishment— — — — — (9,173)(9,173)
Fair value adjustments, net— — — — — (543)(543)
Interest expense, net(592)(1,034)(704)(145)1,276 (15,252)(16,451)
Other, net(3)
(28,197)(357)(150)1,650 (1,465)5,594 (22,925)
Income and mining tax (expense) benefit(29,730)559 (414)(4,799)1,478 (2,052)(34,958)
Net Income (loss) $59,034 $(33,339)$12,784 $56,887 $(43,826)$(82,862)$(31,322)
Segment assets(2)
$294,893 $559,283 $142,926 $87,579 $230,617 $109,636 $1,424,934 
Capital expenditures$36,539 $166,548 $27,522 $8,072 $70,069 $1,031 $309,781 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 16 -- Additional Comprehensive Income (Loss) Detail for additional detail



Year Ended December 31, 2020PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$154,056 $46,337 $216,497 $167,743 $— $— $584,633 
Silver sales132,525 63,916 — 2,504 1,230 — 200,175 
Zinc sales— — — — (662)— (662)
Lead sales— — — — 1,315 — 1,315 
Metal sales286,581 110,253 216,497 170,247 1,883 — 785,461 
Costs and Expenses
Costs applicable to sales(1)
125,204 86,112 121,727 89,635 17,657 — 440,335 
Amortization44,873 14,306 49,477 12,473 8,923 1,335 131,387 
Exploration6,955 3,303 8,568 905 12,228 10,684 42,643 
Other operating expenses7,927 5,144 12,012 838 23,123 40,332 89,376 
Other income (expense)
Fair value adjustments, net— — — — — 7,601 7,601 
Interest expense, net(918)(1,142)(1,017)(182)(672)(16,777)(20,708)
Other, net(3)
(5,273)(2,718)(18)(69)1,793 344 (5,941)
Income and mining tax (expense) benefit(28,029)(863)(1,244)(6,644)— (265)(37,045)
Net Income (loss)$67,402 $(3,335)$22,434 $59,501 $(58,927)$(61,448)$25,627 
Segment assets(2)
$305,291 $346,986 $169,414 $75,047 $157,529 $177,886 $1,232,153 
Capital expenditures$25,511 $37,542 $19,825 $2,447 $13,144 $810 $99,279 
(1) Excludes amortization
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests
(3) See Note 16 -- Additional Comprehensive Income (Loss) Detail for additional detail
Consolidated Assets
Assets December 31, 2022December 31, 2021
Total assets for reportable segments$1,669,982 $1,424,934 
Cash and cash equivalents61,464 56,664 
Other assets114,697 252,824 
Total consolidated assets$1,846,143 $1,734,422 
Long Lived Assets by Country
Geographic Information
Long-Lived Assets December 31, 2022December 31, 2021
United States$899,960 $704,007 
Mexico251,950 244,758 
Canada237,723 223,876 
Other122 125 
Total$1,389,755 $1,172,766 
Revenue by Country
RevenueYear ended December 31,
202220212020
United States$482,202 $512,554 $496,997 
Mexico303,434 320,274 286,581 
Canada— — 1,883 
Total$785,636 $832,828 $785,461 
Major Customers by Reporting Segments
The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years December 31, 2022, 2021, and 2020 (in millions):
Year ended December 31,
Customer202220212020Segments reporting revenue
Bank of Montreal$341.5 $98.7 $17.0 Palmarejo, Rochester, Wharf
Ocean Partners168.9 176.4 161.0 Palmarejo, Kensington, Silvertip
Asahi125.3 323.8 272.1 Palmarejo, Rochester, Kensington, Wharf
Argor-Heraeus49.3 23.3 79.9 Palmarejo, Rochester
Toronto Dominion Bank26.5 61.9 88.6 Rochester
Techemet Metal Trading— 62.2 81.8 Rochester, Wharf
v3.22.4
Receivables (Tables)
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
Receivables Receivables consist of the following:
In thousandsDecember 31, 2022December 31, 2021
Current receivables:
Trade receivables$6,302 $4,879 
VAT receivable10,741 18,415 
Income tax receivable9,719 8,418 
Avino note receivable (1)
4,926 — 
Gold forwards realized gains (2)
4,059 — 
Other586 705 
$36,333 $32,417 
Non-current receivables:
Deferred cash consideration (1)
$7,677 $— 
Contingent consideration (1)
14,346 — 
$22,023 $— 
Total receivables$58,356 $32,417 
(1) See Note 14 -- Fair Value Measurements for additional details on the Avino note receivable, deferred cash consideration and contingent consideration.
(2) Represents realized gains on gold forward hedges from December 2022 that contractually settle in subsequent months. See Note 15 -- Derivative Financial Instruments & Hedging for additional details on the gold forward hedges.
v3.22.4
Inventory and Ore on Leach Pads (Tables)
 12 Months Ended
Dec. 31, 2022
Inventory Disclosure [Abstract]  
Inventories Inventory consists of the following:
In thousandsDecember 31, 2022December 31, 2021
Inventory:
Concentrate$2,869 $1,643 
Precious metals12,636 11,353 
Supplies46,326 38,285 
$61,831 $51,281 
Ore on Leach Pads:
Current$82,958 $81,128 
Non-current51,268 73,495 
$134,226 $154,623 
Long-term Stockpile (included in Other)
$28,840 $18,027 
Total Inventory and Ore on Leach Pads$224,897 $223,931 
    Coeur reports the carrying value of metal and leach pad inventory at the lower of cost or net realizable value, with cost being determined using a weighted average cost method. In the year ended December 31, 2022, the cost of metal and leach pad inventory at Rochester exceeded its net realizable value, which resulted in non-cash write downs of $52.5 million ($46.0 million was recognized in Costs Applicable to Sales and $6.6 million in Amortization).
v3.22.4
Investments (Tables)
 12 Months Ended
Dec. 31, 2022
Investment in Marketable Securities [Abstract]  
Investments The Company makes strategic investments in equity securities of silver and gold exploration, development and royalty and streaming companies.
At December 31, 2022
In thousandsCostGross
Unrealized
Losses		Gross
Unrealized
Gains		Estimated
Fair Value
Equity Securities
Victoria Gold Corp.$70,560 $(38,528)$— $32,032 
Integra Resources Corp.9,455 (7,115)— 2,340 
Avino Silver & Gold Mines Ltd13,720 (4,199)— 9,521 
Other2,233 (1,974)— 259 
Equity securities$95,968 $(51,816)$— $44,152 
At December 31, 2021
In thousandsCostGross
Unrealized
Losses		Gross
Unrealized
Gains		Estimated
Fair Value
Equity Securities
Victoria Gold Corp.$128,710 $(4,499)$— $124,211 
Integra Resources Corp.9,455 (1,469)— 7,986 
Equity securities$138,165 $(5,968)$— $132,197 
v3.22.4
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, plant and equipment
Property, plant and equipment consist of the following:
In thousandsDecember 31, 2022December 31, 2021
Land$8,242 $8,480 
Facilities and equipment652,783 668,089 
Assets under finance leases148,174 115,652 
$809,199 $792,221 
Accumulated amortization(1)
(652,898)(620,303)
$156,301 $171,918 
Construction in progress236,019 148,049 
Property, plant and equipment, net$392,320 $319,967 
(1) Includes $80.3 million and $63.9 million of accumulated amortization related to assets under finance leases at December 31, 2022 and December 31, 2021, respectively.
v3.22.4
Mining Properties (Tables)
 12 Months Ended
Dec. 31, 2022
Mining Properties [Abstract]  
Mining Properties
Mining properties consist of the following (in thousands):
December 31, 2022PalmarejoRochesterKensingtonWharfSilvertipSterlingOtherTotal
Mine development$336,656 $637,321 $410,255 $67,326 $81,827 $— $— $1,533,385 
Accumulated amortization(226,437)(161,305)(327,499)(25,306)(12,622)— — (753,169)
110,219 476,016 82,756 42,020 69,205 — — 780,216 
Mineral interests629,303 19,098 — 48,062 114,036 — 10,613 821,112 
Accumulated amortization(542,886)— — (36,179)(24,828)— — (603,893)
86,417 19,098 — 11,883 89,208 — 10,613 217,219 
Mining properties, net$196,636 $495,114 $82,756 $53,903 $158,413 $— $10,613 $997,435 
As further discussed in Note 21 -- Dispositions, the consideration for the sale of La Preciosa project included two royalties, a 1.25% net smelter returns royalty on properties covering the Gloria and Abundancia areas of the La Preciosa project and a 2.00% gross value royalty on all areas of the La Preciosa project other than the Gloria and Abundancia areas. The fair value of the royalties was $11.2 million, valued as of the date of closing of the transaction.

December 31, 2021PalmarejoRochesterKensingtonWharfSilvertipSterlingOtherTotal
Mine development$307,698 $437,833 $382,492 $49,045 $67,805 $3,861 $— $1,248,734 
Accumulated amortization(211,187)(158,805)(302,582)(24,358)(11,685)(1,515)— (710,132)
96,511 279,028 79,910 24,687 56,120 2,346 — 538,602 
Mineral interests629,303 19,098 — 48,062 114,036 95,499 — 905,998 
Accumulated amortization(532,155)— — (34,818)(24,828)— — (591,801)
97,148 19,098 — 13,244 89,208 95,499 — 314,197 
Mining properties, net$193,659 $298,126 $79,910 $37,931 $145,328 $97,845 $— $852,799 
v3.22.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Summary of Lease Cost and Cash Flow Information
The following table summarizes quantitative information pertaining to the Company’s finance and operating leases.
Year ended December 31,
In thousands202220212020
Lease Cost
Operating lease cost$11,939 $12,585 $12,036 
Short-term operating lease cost$10,573 $11,219 $8,055 
Finance Lease Cost:
Amortization of leased assets$21,571 $21,685 $23,921 
Interest on lease liabilities5,084 4,632 3,634 
Total finance lease cost$26,655 $26,317 $27,555 
Supplemental cash flow information related to leases was as follows:
Year ended December 31,
In thousands202220212020
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$22,511 $24,009 $21,348 
Operating cash flows from finance leases5,084 $4,632 $3,634 
Financing cash flows from finance leases$31,316 $31,544 $25,984 
Supplemental Balance Sheet Information
Supplemental balance sheet information related to leases was as follows:
In thousandsDecember 31, 2022December 31, 2021
Operating Leases
Other assets, non-current$24,603 $30,987 
Accrued liabilities and other11,560 11,301 
Other long-term liabilities14,946 18,660 
Total operating lease liabilities$26,506 $29,961 
Finance Leases
Property and equipment, gross$148,174 $115,597 
Accumulated depreciation(80,336)(63,879)
Property and equipment, net$67,838 $51,718 
Debt, current$24,578 $29,821 
Debt, non-current42,143 24,407 
Total finance lease liabilities$66,721 $54,228 
Weighted Average Remaining Lease Term
Weighted-average remaining lease term - finance leases1.761.62
Weighted-average remaining lease term - operating leases4.443.17
Weighted Average Discount Rate
Weighted-average discount rate - finance leases5.21 %5.08 %
Weighted-average discount rate - operating leases5.24 %5.20 %
Operating Lease Minimum Future Lease Payments
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of December 31, 2022 (In thousands)
Operating leases Finance leases
2023$11,869 $25,999 
20249,710 19,452 
2025696 16,839 
2026713 8,429 
2027847 1,821 
Thereafter6,503 — 
Total$30,338 $72,540 
Less: imputed interest(3,832)(5,819)
Net lease obligation$26,506 $66,721 
Finance Lease Minimum Future Lease Payments
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of December 31, 2022 (In thousands)
Operating leases Finance leases
2023$11,869 $25,999 
20249,710 19,452 
2025696 16,839 
2026713 8,429 
2027847 1,821 
Thereafter6,503 — 
Total$30,338 $72,540 
Less: imputed interest(3,832)(5,819)
Net lease obligation$26,506 $66,721 
v3.22.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Long term debt and capital lease obligations
 December 31, 2022December 31, 2021
In thousandsCurrentNon-CurrentCurrentNon-Current
2029 Senior Notes, net(1)
$— $369,212 $— $368,273 
Revolving Credit Facility(2)
— 80,000 — 65,000 
Finance lease obligations24,578 42,143 29,821 24,407 
$24,578 $491,355 $29,821 $457,680 
(1) Net of unamortized debt issuance costs of $5.8 million and $6.7 million at December 31, 2022 and December 31, 2021, respectively.
(2) Unamortized debt issuance costs of $3.6 million and $2.4 million at December 31, 2022 and December 31, 2021, respectively, included in Other Non-Current Assets.
Interest Expenses Incurred for Various Debt Instruments [Table Text Block]
Interest Expense
 Year Ended December 31,
In thousands202220212020
2024 Senior Notes$— $2,591 $13,513 
2029 Senior Notes19,219 16,016 — 
Revolving Credit Facility8,503 2,296 3,165 
Finance lease obligations5,084 4,632 3,634 
Amortization of debt issuance costs2,052 1,726 1,525 
Other debt obligations166 303 344 
Capitalized interest(11,163)(11,113)(1,473)
Total interest expense, net of capitalized interest$23,861 $16,451 $20,708 
v3.22.4
Reclamation (Tables)
 12 Months Ended
Dec. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation
Year Ended December 31,
In thousands20222021
Asset retirement obligation - Beginning$181,888 $139,274 
Accretion14,232 11,988 
Additions and changes in estimates13,001 34,927 
Disposition of Sterling/Crown exploration properties(1,840)— 
Settlements(4,850)(4,301)
Asset retirement obligation - Ending$202,431 $181,888 
v3.22.4
Income and Mining Taxes (Tables)
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
The components of Income (loss) before income taxes are below:
 Year Ended December 31,
In thousands202220212020
United States$(107,477)$(34,196)$40,890 
Foreign44,028 37,832 21,782 
Total$(63,449)$3,636 $62,672 
The components of the consolidated Income and mining tax (expense) benefit from continuing operations are below:
Year Ended December 31,
In thousands202220212020
Current:   
United States$(21)$25 $226 
United States — State mining taxes(2,936)(5,691)(8,384)
United States — Foreign withholding tax(300)(862)(800)
Canada(305)— 232 
Mexico(29,546)(31,175)(36,066)
Other— — 33 
Deferred:
United States215 (651)(49)
United States — State mining taxes5,558 1,037 (354)
Canada254 1,224 — 
Mexico12,423 1,135 8,117 
Other— — — 
Income tax (expense) benefit$(14,658)$(34,958)$(37,045)
Schedule of Effective Income Tax Rate Reconciliation
The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
 Year Ended December 31,
In thousands202220212020
Income and mining tax (expense) benefit at statutory rate$13,249 $(764)$(13,161)
State tax provision from continuing operations2,871 2,009 (152)
Change in valuation allowance(36,670)(28,615)(17,522)
Percentage depletion3,538 4,968 5,056 
Uncertain tax positions655 920 2,321 
U.S. and foreign permanent differences365 4,105 3,844 
Foreign exchange rates(145)(384)1,390 
Foreign inflation and indexing2,897 (1,087)684 
Foreign tax rate differences(4,994)(4,901)(3,971)
Mining, foreign withholding, and other taxes(11,070)(12,599)(17,457)
Sale of non-core assets15,447 — — 
Other, net(801)1,390 1,923 
Income and mining tax (expense) benefit$(14,658)$(34,958)$(37,045)
Schedule of Deferred Tax Assets and Liabilities At December 31, 2022 and 2021, the significant components of the Company’s deferred tax assets and liabilities are below:
 Year Ended December 31,
In thousands20222021
Deferred tax liabilities:  
Royalty and other long-term debt— 1,495 
 $— $1,495 
Deferred tax assets:
Net operating loss carryforwards$282,776 $267,944 
Mineral properties31,095 6,525 
Property, plant, and equipment12,562 13,161 
Mining royalty tax7,440 8,147 
Capital loss carryforwards1,784 15,404 
Asset retirement obligation44,413 39,262 
Unrealized foreign currency loss and other— 1,013 
Accrued expenses30,379 20,589 
Tax credit carryforwards16,167 26,594 
Other long-term assets3,914 — 
 430,530 398,639 
Valuation allowance(444,989)(430,053)
 (14,459)(31,414)
Net deferred tax liabilities$14,459 $32,909 
Summary of Valuation Allowance Based upon this analysis, the Company has recorded valuation allowances as follows:
 Year Ended December 31,
In thousands20222021
U.S. $245,899 $228,942 
Canada178,310 165,561 
Mexico441 13,277 
New Zealand19,993 21,822 
Other346 451 
 $444,989 $430,053 
Summary of Tax Credit Carryforwards
The Company has the following tax attribute carryforwards at December 31, 2022, by jurisdiction:
In thousandsU.S.CanadaMexicoNew ZealandOtherTotal
Regular net operating losses$535,016 $442,941 $1,046 $71,117 $977 $1,051,097 
Expiration years2024-2037, Indefinite2028-20422029-2033Indefinite2025-2027
Capital losses— — — — — — 
Foreign tax credits10,864 — — — — 10,864 
Summary of Income Tax Contingencies
A reconciliation of the beginning and ending amount related to unrecognized tax benefits is below (in thousands):
Unrecognized tax benefits at December 31, 2020$723 
Gross increase to current period tax positions— 
Gross increase to prior period tax positions
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations(428)
Unrecognized tax benefits at December 31, 2021$295 
Gross increase to current period tax positions— 
Gross increase to prior period tax positions24 
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statute of limitations(315)
Unrecognized tax benefits at December 31, 2022$4 
v3.22.4
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following table summarizes restricted stock activity for the years ended December 31, 2022, 2021, and 2020:
 Restricted Stock
Number of
Shares		Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20192,184,675 $5.89 
Granted1,676,634 5.13 
Vested(928,778)6.46 
Canceled/Forfeited(207,807)5.36 
Outstanding at December 31, 20202,724,724 $5.26 
Granted932,442 8.88 
Vested(1,179,857)5.53 
Canceled/Forfeited(332,505)5.83 
Outstanding at December 31, 20212,144,804 $6.60 
Granted2,056,121 4.07 
Vested(1,114,513)6.08 
Canceled/Forfeited(301,802)5.74 
Outstanding at December 31, 20222,784,610 $5.05 
Share-based Payment Arrangement, Performance Shares, Outstanding Activity
The following table summarizes performance shares activity for the years ended December 31, 2022, 2021, and 2020:
 Performance Shares
Number of
Shares		Weighted
Average
Grant Date
Fair Value
Outstanding at December 31, 20191,214,145 $6.93 
Granted (1)
1,343,953 3.95 
Vested(54,132)11.47 
Canceled/Forfeited (1)
(168,864)10.71 
Outstanding at December 31, 20202,335,102 $4.83 
Granted (2)
602,933 10.13 
Vested(143,312)7.39 
Canceled/Forfeited (2)
(404,710)6.12 
Outstanding at December 31, 20212,390,013 $5.80 
Granted (3)
1,325,418 4.53 
Vested(824,064)5.54 
Canceled/Forfeited (3)
(316,830)6.11 
Outstanding at December 31, 20222,574,537 $5.26 
(1) Includes 6,226 additional shares granted and 143,808 shares cancelled in connection with the vesting of the 2017 award in 2020 due to above-target and below target performance, respectively, in accordance with the terms of the award.
(2) Includes 1,421 additional shares granted and 141,894 shares cancelled in connection with the vesting of the 2018 award in 2021 due to above-target and below target performance, respectively, in accordance with the terms of the award.
(3) Includes 175,828 additional shares granted in connection with the vesting of the 2019 award in 2022 due to above-target in accordance with the terms of the award.
Schedule of Stock Options Roll Forward
The following table summarizes stock option and SAR activity for the years ended December 31, 2022, 2021, and 2020:
 Stock OptionsSARs
SharesWeighted
Average
Exercise
Price		SharesWeighted
Average
Exercise
Price
Outstanding at December 31, 2019291,779 $14.05 32,282 $15.40 
Exercised(30,401)5.57 — — 
Canceled/forfeited(39,105)12.77 — — 
Expired— — (32,282)15.40 
Outstanding at December 31, 2020222,273 $15.44 — — 
Exercised(57,721)7.74 — — 
Canceled/forfeited(16,455)18.45 — — 
Expired(16,844)27.45 — — 
Outstanding at December 31, 2021131,253 $16.91 — — 
Canceled/forfeited(5,598)11.88 — — 
Expired(31,667)25.19 — — 
Outstanding at December 31, 202293,988 $14.41 — — 
The following table summarizes outstanding stock options as of December 31, 2022.
Range of
Exercise Price		Number
Outstanding		Weighted Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Life (Years)		Aggregate Intrinsic Value (in thousands)
$ 0.00-$10.0054,330 $7.49 3.4NA
$10.00-$20.00— $— 0.0NA
$20.00-$30.0039,658 $23.9 0.1NA
Outstanding93,988 $14.41 2.0$— 
Vested and expected to vest93,988 $14.41 2.0$— 
Exercisable93,988 $14.41 2.0$— 
v3.22.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Fair Value Disclosures [Abstract]    
Schedule of Fair Value Adjustments to Comprehensive income (Loss)  
 Year Ended December 31,
In thousands202220212020
Change in the value of equity securities(1)
$(63,529)$(10,476)$7,601 
Exchange agreement embedded derivative— 9,933 — 
Termination of gold zero cost collars(3,139)— — 
Fair value adjustments, net$(66,668)$(543)$7,601 
(1) Includes unrealized losses on held equity securities of $47.9 million, $10.4 million, and $16.2 million for the years ended December 31, 2022, 2021 and 2020, respectively.
Financial assets and liabilities measured at fair value on recurring basis
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
 Fair Value at December 31, 2022
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Equity securities including warrants$44,152 $43,893 $259 $— 
Provisional metal sales contracts299 — 299 — 
Gold forwards12,343 — 12,343 — 
$56,794 $43,893 $12,901 $— 
Liabilities:
Provisional metal sales contracts$10 $— $10 $— 
 
 Fair Value at December 31, 2021
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Equity securities$132,197 $132,197 $— $— 
Provisional metal sales contracts86 — 86 — 
$132,283 $132,197 $86 $— 
Liabilities:
Gold zero cost collars
$1,212 $— $1,212 $— 
Provisional metal sales contracts162 — 162 — 
$1,374 $— $1,374 $— 
  
Changes in the fair value of the Company's Level 3 financial liabilities
The following tables present the changes in the fair value of the Company's Level 3 financial assets and liabilities in the year ended December 31, 2021.
December 31, 2021
In thousandsBalance at the beginning of the periodInitial valuationRevaluationSettlementsBalance at the
end of the
period
Liabilities:
Exchange agreement embedded derivative$— $9,933 $(9,933)$— $— 
  
Financial Assets and Liabilities not Measured at Fair Value
The fair value of financial assets and liabilities carried at book value in the financial statements at December 31, 2022 and December 31, 2021 is presented in the following table:
 December 31, 2022
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Assets:
Promissory note$4,926 $4,579 $— $4,579 $— 
Deferred cash consideration$7,677 $7,317 $— $7,317 $— 
Liabilities:
2029 Senior Notes(1)
$369,212 $291,924 $— $291,924 $— 
Revolving Credit Facility(2)
$80,000 $80,000 $— $80,000 $— 
(1) Net of unamortized debt issuance costs of $5.8 million
(2) Unamortized debt issuance costs of $3.6 million included in Other Non-Current Assets.
 December 31, 2021
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Liabilities:
2029 Senior Notes(1)
$368,273 $337,384 $— $337,384 $— 
Revolving Credit Facility(2)
$65,000 $65,000 $— $65,000 $— 
(1) Net of unamortized debt issuance costs of $6.7 million.
(2) Unamortized debt issuance costs of $2.4 million included in Other Non-Current Assets.
  
v3.22.4
Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative instruments, future settlement
At December 31, 2022, the Company had the following derivative instruments that settle as follows:
In thousands except average prices and notional ounces20232024 and Thereafter
Provisional gold sales contracts$26,004 $— 
Average gold price per ounce$1,786 $— 
Notional ounces14,556 — 
At December 31, 2022, the Company had the following derivative cash flow hedge instruments that settle as follows:
In thousands except average prices and notional ounces20232024 and Thereafter
Gold forwards
Average gold fixed price per ounce$1,957 $— 
Notional ounces130,500 — 
Fair value of the derivative instruments The following summarizes the classification of the fair value of the derivative instruments:
 December 31, 2022
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$299 $10 
 December 31, 2021
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$86 $162 
The following summarizes the classification of the fair value of the derivative instruments designated as cash flow hedges:
 December 31, 2022
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$12,343 $— $— 
 December 31, 2021
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold zero cost collars$— $— $1,212 
The following table sets forth the pre-tax gains (losses) on derivatives designated as cash flow hedges that have been included in AOCI and the Consolidated Statement of Comprehensive Income (Loss) for the years ended December 31, 2022, 2021, and 2020, respectively (in thousands).
Year Ended December 31,
202220212020
 Amount of Gain (Loss) Recognized in AOCI
Gold forwards$42,043 $— $— 
Gold zero cost collars(4,598)22,733 $(32,345)
Foreign currency forward exchange contracts— 50 19,911 
$37,445 $22,783 $(12,434)
Amount of (Gain) Loss Reclassified From AOCI to Earnings
Gold forwards$(28,488)$— $— 
Gold zero cost collars4,598 938 $7,598 
Foreign currency forward exchange contracts— (13,797)(6,164)
$(23,890)$(12,859)$1,434 
Gain losses on derivative instruments
The following represent mark-to-market gains (losses) on derivative instruments in the years ended December 31, 2022, 2021, and 2020 respectively (in thousands):
 Year Ended December 31,
Financial statement lineDerivative202220212020
RevenueProvisional metal sales contracts$365 $(490)$959 
Fair value adjustments, netExchange agreement embedded derivative— 9,933 — 
Fair value adjustments, netTerminated zero cost collars(3,139)— — 
$(2,774)$9,443 $959 
v3.22.4
Additional Comprehensive Income (Loss) Detail (Tables)
 12 Months Ended
Dec. 31, 2022
Other Income and Expenses [Abstract]  
Schedule of Other Operating Cost and Expense, by Component
Pre-development, reclamation, and other consists of the following:
 Year Ended December 31,
In thousands202220212020
COVID-19$1,739 $6,618 $15,555 
Silvertip ongoing carrying costs20,963 24,928 16,384 
Silvertip suspension costs— — 7,164 
Gain on modification of right of use lease— — (4,051)
Asset retirement accretion14,232 11,988 11,754 
Other4,353 5,144 8,848 
Pre-development, reclamation and other$41,287 $48,678 $55,654 
Schedule of Other Nonoperating Income (Expense)
Other, net consists of the following:
 Year Ended December 31,
In thousands202220212020
Foreign exchange gain (loss)$(850)$(2,779)$(2,245)
Gain (loss) on sale of assets64,429 4,111 (2,849)
VAT write-down— (25,982)— 
Gold zero cost collars novation fee— — (3,819)
Gain (loss) on sale of Manquiri NSR consideration— — 365 
RMC bankruptcy distribution1,651 — — 
Gain on Silvertip contingent consideration — — 955 
Other1,741 1,725 1,652 
Other, net$66,971 $(22,925)$(5,941)
v3.22.4
Net Income (Loss) Per Share (Tables)
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
Year ended December 31,
In thousands except per share amounts202220212020
Net income (loss) available to common stockholders$(78,107)$(31,322)$25,627 
Weighted average shares:
Basic275,178 250,044 240,803 
Effect of stock-based compensation plans— — 1,746 
Diluted275,178 250,044 242,549 
Income (loss) per share:
Basic$(0.28)$(0.13)$0.11 
Diluted$(0.28)$(0.13)$0.11 
v3.22.4
Supplemental Guarantor Information (Tables)
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
Condensed Balance Sheet
SUMMARIZED BALANCE SHEET
Coeur Mining, Inc.Guarantor Subsidiaries
In thousandsDecember 31, 2022December 31, 2021December 31, 2022December 31, 2021
Current assets$73,692 $11,143 $137,432 $128,630 
Non-current assets(1)
$445,778 $473,145 $991,213 $830,330 
Non-guarantor intercompany assets$4,391 $19,803 $— $— 
Current liabilities$19,842 $18,353 $136,788 $130,307 
Non-current liabilities$42,028 $139,223 $603,800 $461,904 
Non-guarantor intercompany liabilities$58,257 $30,045 $150,550 $1,650 
(1) Coeur Mining, Inc.’s non-current assets includes its investment in Guarantor Subsidiaries.
Schedule of Comprehensive Income (Loss)
SUMMARIZED STATEMENTS OF INCOME
YEAR ENDED DECEMBER 31, 2022
In thousandsCoeur Mining, Inc.Guarantor Subsidiaries
Revenue$— $482,202 
Gross profit (loss)$(833)$(12,199)
Net income (loss)$(78,107)$8,920 
v3.22.4
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Tables)
 12 Months Ended
Dec. 31, 2022
Supplemental Cash Flow Information [Abstract]  
Schedule of Accrued Liabilities [Table Text Block] Accrued liabilities and other consist of the following:
In thousandsDecember 31, 2022December 31, 2021
Accrued salaries and wages$29,868 $28,408 
Deferred revenue (1)
25,736 16,093 
Income and mining taxes7,874 13,856 
Accrued operating costs6,241 5,592 
Unrealized losses on derivatives10 1,374 
Taxes other than income and mining3,318 3,284 
Accrued interest payable8,256 8,038 
Operating lease liabilities11,560 11,301 
Accrued liabilities and other$92,863 $87,946 
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the statement of financial position that total the same such amounts shown in the statement of cash flows in the year ended December 31, 2022 and 2021:
In thousandsDecember 31, 2022December 31, 2021
Cash and cash equivalents$61,464 $56,664 
Restricted cash equivalents1,705 1,625 
Total cash, cash equivalents and restricted cash shown in the statement of cash flows$63,169 $58,289 
Year ended December 31,
202220212020
Non-cash lease obligations arising from obtaining operating lease assets$4,120 $1,197 $3,531 
Non-cash financing and investing activities:
Finance lease obligations$43,810 $37,860 $5,283 
Capital expenditures, not yet paid$33,688 $40,904 $30,682 
Non-cash Silvertip contingent consideration$— $— $5,295 
Non-cash acquisition of Victoria Gold Corp common stock$— $118,777 $— 
Other cash flow information:
Interest paid$32,704 $19,655 $20,634 
Income and mining taxes paid$41,600 $57,200 $35,600 
v3.22.4
Disposals (Tables)
 12 Months Ended
Dec. 31, 2022
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]  
Schedule of Major Classes of Assets and Liabilities The major classes of assets and liabilities associated with the La Preciosa project as of December 31, 2021 are as follows:
In thousandsDecember 31, 2021
Cash and cash equivalents$234 
Receivables1,211
Prepaid expenses and other1,338
Property, plant and equipment, net1,626
Mining properties, net49,085
Other746 
TOTAL ASSETS$54,240 
Accounts payable$311 
Deferred tax liabilities10,958 
TOTAL LIABILITIES$11,269 
v3.22.4
Summary of Significant Accounting Policies (Details) - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Sep. 30, 2022
Jun. 30, 2022
Dec. 31, 2019
Oct. 02, 2014
Business Acquisition [Line Items]              
Inventory Write-down $ 45,978,000 $ 38,596,000 $ 16,821,000        
Rochester [Member]              
Business Acquisition [Line Items]              
Inventory Write-down 52,500,000            
Rochester [Member] | Cost of Sales              
Business Acquisition [Line Items]              
Inventory Write-down 46,000,000            
Palmarejo gold production royalty              
Business Acquisition [Line Items]              
Aggregate deposit to be received             $ 22,000,000
Production to be sold, percent             50.00%
Price per ounce under agreement             $ 800
Kensington              
Business Acquisition [Line Items]              
Revenue liability $ 25,016,000 15,016,000 $ 15,003,000     $ 15,009,000  
Kensington | December 2020 Prepayment [Member]              
Business Acquisition [Line Items]              
Revenue liability   $ 15,000,000   $ 15,000,000 $ 15,000,000    
v3.22.4
Summary of Significant Accounting Policies Summary of Unearned Income (Details) - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Oct. 02, 2014
Contract Liabilities        
Deferred Revenue Recognized $ 15,887,000 $ 16,226,000 $ 16,702,000  
Palmarejo gold production royalty        
Contract Liabilities        
Aggregate deposit to be received       $ 22,000,000
Price per ounce under agreement       $ 800
Production to be sold, percent       50.00%
Franco-Nevada        
Contract Liabilities        
Opening Balance 8,150,000 9,376,000 11,061,000  
Deferred Revenue Recognized (739,000) (1,226,000) (1,685,000)  
Closing Balance 7,411,000 8,150,000 9,376,000  
Kensington        
Contract Liabilities        
Opening Balance 15,016,000 15,003,000 15,009,000  
Deferred Revenue, Additions 36,020,000 30,013,000 30,177,000  
Deferred Revenue Recognized (26,020,000) (30,000,000) (30,183,000)  
Closing Balance 25,016,000 15,016,000 $ 15,003,000  
Kensington | December 2020 Prepayment [Member]        
Contract Liabilities        
Opening Balance 15,000,000      
Closing Balance   $ 15,000,000    
Kensington | June 2021 Prepayment        
Contract Liabilities        
Closing Balance 10,000,000      
Kensington | December 2021 Prepayment        
Contract Liabilities        
Closing Balance $ 25,000,000      
v3.22.4
Summary of Significant Accounting Policies - Property Plant and Equipment (Details)
 12 Months Ended
Dec. 31, 2022
Minimum | Building and Building Improvements  
Business Acquisition [Line Items]  
Property, Plant and Equipment, Useful Life 7 years
Minimum | Machinery and Equipment  
Business Acquisition [Line Items]  
Property, Plant and Equipment, Useful Life 3 years
Maximum | Building and Building Improvements  
Business Acquisition [Line Items]  
Property, Plant and Equipment, Useful Life 30 years
Maximum | Machinery and Equipment  
Business Acquisition [Line Items]  
Property, Plant and Equipment, Useful Life 10 years
v3.22.4
Summary of Significant Accounting Policies -Mining Properties and Mine Development (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Accounting Policies [Abstract]    
Drilling and Related Costs Capitalized $ 21.6 $ 19.9
v3.22.4
Summary of Significant Accounting Policies - Restricted Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Accounting Policies [Abstract]    
Certificates of Deposit, at Carrying Value $ 9.0 $ 9.1
v3.22.4
Segment Reporting (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Financial information relating to reporting segments      
Revenue $ 785,636 $ 832,828 $ 785,461
Amortization 111,626 128,315 131,387
Other operating expenses 80,747 89,077 89,376
Gain (Loss) on Extinguishment of Debt 0 (9,173) 0
Fair value adjustments, net, pretax (66,668) (543) 7,601
Interest expense, net of capitalized interest (23,861) (16,451) (20,708)
Other, net   (22,925) (5,941)
Income and mining tax (expense) benefit (14,658) (34,958) (37,045)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (78,107) (31,322) 25,627
Net income (loss) (78,107) (31,322) 25,627
Assets, Net 1,669,982 1,424,934 1,232,153
Capital expenditures 352,354 309,781 99,279
Palmarejo [Member]      
Financial information relating to reporting segments      
Amortization 35,432 36,062 44,873
Other operating expenses 4,372 4,443 7,927
Gain (Loss) on Extinguishment of Debt   0  
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (12) (592) (918)
Other, net 3,204 (28,197) (5,273)
Income and mining tax (expense) benefit (28,771) (29,730) (28,029)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 48,870 59,034 67,402
Assets, Net 295,715 294,893 305,291
Capital expenditures 42,648 36,539 25,511
Rochester [Member]      
Financial information relating to reporting segments      
Amortization 22,626 20,187 14,306
Other operating expenses 7,340 5,886 5,144
Gain (Loss) on Extinguishment of Debt   0  
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (810) (1,034) (1,142)
Other, net (506) (357) (2,718)
Income and mining tax (expense) benefit 876 559 (863)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (70,536) (33,339) (3,335)
Assets, Net 809,116 559,283 346,986
Capital expenditures 246,360 166,548 37,542
Kensington      
Financial information relating to reporting segments      
Amortization 39,032 54,933 49,477
Other operating expenses 1,870 6,299 12,012
Gain (Loss) on Extinguishment of Debt   0  
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (1,446) (704) (1,017)
Other, net (21) (150) (18)
Income and mining tax (expense) benefit 127 (414) (1,244)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (2,111) 12,784 22,434
Assets, Net 148,516 142,926 169,414
Capital expenditures 31,456 27,522 19,825
Wharf [Member]      
Financial information relating to reporting segments      
Amortization 8,247 11,038 12,473
Other operating expenses 1,947 1,786 838
Gain (Loss) on Extinguishment of Debt   0  
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (66) (145) (182)
Other, net 506 1,650 (69)
Income and mining tax (expense) benefit (2,868) (4,799) (6,644)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 34,361 56,887 59,501
Assets, Net 105,209 87,579 75,047
Capital expenditures 3,138 8,072 2,447
Silvertip [Member]      
Financial information relating to reporting segments      
Amortization 4,912 4,797 8,923
Other operating expenses 22,322 25,031 23,123
Gain (Loss) on Extinguishment of Debt   0  
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (176) 1,276 (672)
Other, net (354) (1,465) 1,793
Income and mining tax (expense) benefit 0 1,478 0
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (32,392) (43,826) (58,927)
Assets, Net 244,151 230,617 157,529
Capital expenditures 24,797 70,069 13,144
Other Mining Properties [Member]      
Financial information relating to reporting segments      
Amortization 1,377 1,298 1,335
Other operating expenses 42,896 45,632 40,332
Gain (Loss) on Extinguishment of Debt   (9,173)  
Fair value adjustments, net, pretax (66,668) (543) 7,601
Interest expense, net of capitalized interest (21,351) (15,252) (16,777)
Other, net 64,142 5,594 344
Income and mining tax (expense) benefit 15,978 (2,052) (265)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (56,299) (82,862) (61,448)
Assets, Net 67,275 109,636 177,886
Capital expenditures 3,955 1,031 810
Gold [Member]      
Financial information relating to reporting segments      
Revenue 572,877 578,911 584,633
Gold [Member] | Palmarejo [Member]      
Financial information relating to reporting segments      
Revenue 157,595 150,098 154,056
Gold [Member] | Rochester [Member]      
Financial information relating to reporting segments      
Revenue 64,460 49,659 46,337
Gold [Member] | Kensington      
Financial information relating to reporting segments      
Revenue 201,859 214,635 216,497
Gold [Member] | Wharf [Member]      
Financial information relating to reporting segments      
Revenue 148,963 164,519 167,743
Gold [Member] | Silvertip [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Gold [Member] | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product, Silver      
Financial information relating to reporting segments      
Revenue 212,759 253,917 200,175
Product, Silver | Palmarejo [Member]      
Financial information relating to reporting segments      
Revenue 145,839 170,176 132,525
Product, Silver | Rochester [Member]      
Financial information relating to reporting segments      
Revenue 65,203 81,163 63,916
Product, Silver | Kensington      
Financial information relating to reporting segments      
Revenue 634 370 0
Product, Silver | Wharf [Member]      
Financial information relating to reporting segments      
Revenue 1,083 2,208 2,504
Product, Silver | Silvertip [Member]      
Financial information relating to reporting segments      
Revenue 0 0 1,230
Product, Silver | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product, Metal [Member]      
Financial information relating to reporting segments      
Revenue 785,636 832,828 785,461
Product, Metal [Member] | Palmarejo [Member]      
Financial information relating to reporting segments      
Revenue 303,434 320,274 286,581
Product, Metal [Member] | Rochester [Member]      
Financial information relating to reporting segments      
Revenue 129,663 130,822 110,253
Product, Metal [Member] | Kensington      
Financial information relating to reporting segments      
Revenue 202,493 215,005 216,497
Product, Metal [Member] | Wharf [Member]      
Financial information relating to reporting segments      
Revenue 150,046 166,727 170,247
Product, Metal [Member] | Silvertip [Member]      
Financial information relating to reporting segments      
Revenue 0 0 1,883
Product, Metal [Member] | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Revenue 0 0 0
Product      
Financial information relating to reporting segments      
Costs applicable to sales [1] 606,530 511,539 440,335
Product | Palmarejo [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 182,576 [1] 153,655 125,204
Product | Rochester [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 165,166 [1] 131,240 86,112
Product | Kensington      
Financial information relating to reporting segments      
Costs applicable to sales 155,725 [1] 133,065 121,727
Product | Wharf [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 103,063 [1] 93,579 89,635
Product | Silvertip [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 0 [1] 0 17,657
Product | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 0 [1] 0 0
Mineral, Exploration      
Financial information relating to reporting segments      
Costs applicable to sales 26,624 51,169 42,643
Mineral, Exploration | Palmarejo [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 6,605 8,561 6,955
Mineral, Exploration | Rochester [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 4,627 6,016 3,303
Mineral, Exploration | Kensington      
Financial information relating to reporting segments      
Costs applicable to sales 6,637 6,656 8,568
Mineral, Exploration | Wharf [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 0 143 905
Mineral, Exploration | Silvertip [Member]      
Financial information relating to reporting segments      
Costs applicable to sales 4,628 15,287 12,228
Mineral, Exploration | Other Mining Properties [Member]      
Financial information relating to reporting segments      
Costs applicable to sales $ 4,127 $ 14,506 $ 10,684
[1] Excludes amortization.
v3.22.4
Segment Reporting (Details 1) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Segment Reporting [Abstract]      
Assets, Net $ 1,669,982 $ 1,424,934 $ 1,232,153
Cash and cash equivalents 61,464 56,664  
Other assets 114,697 252,824  
TOTAL ASSETS $ 1,846,143 $ 1,734,422  
v3.22.4
Segment Reporting (Details 2) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile $ 1,389,755 $ 1,172,766  
Revenues      
Revenue 785,636 832,828 $ 785,461
United States      
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile 899,960 704,007  
Revenues      
Revenue 482,202 512,554 496,997
Canada      
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile 237,723 223,876  
Revenues      
Revenue 0 0 1,883
Mexico      
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile 251,950 244,758  
Revenues      
Revenue 303,434 320,274 $ 286,581
Other Foreign Countries [Member]      
Long Lived Assets      
Long Lived Assets in Entity's Country of Domicile $ 122 $ 125  
v3.22.4
Segment Reporting - Summary of Concentration Risk (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Concentration Risk [Line Items]      
Revenue $ 785,636 $ 832,828 $ 785,461
Customer Concentration Risk [Member] | RMC [Member]      
Concentration Risk [Line Items]      
Revenue 341,500 98,700 17,000
Customer Concentration Risk [Member] | Ocean Partners [Member]      
Concentration Risk [Line Items]      
Revenue 168,900 176,400 161,000
Customer Concentration Risk [Member] | Asahi Formerly Johnson Matthey [Member]      
Concentration Risk [Line Items]      
Revenue 125,300 323,800 272,100
Customer Concentration Risk [Member] | Argor-Heraeus      
Concentration Risk [Line Items]      
Revenue 49,300 23,300 79,900
Customer Concentration Risk [Member] | Toronto Dominion Bank      
Concentration Risk [Line Items]      
Revenue 26,500 61,900 88,600
Customer Concentration Risk [Member] | Techemet Metal Trading [Member]      
Concentration Risk [Line Items]      
Revenue $ 0 $ 62,200 $ 81,800
v3.22.4
Segment Reporting - Narrative (Details) - Revenue, Product and Service Benchmark - Product Concentration Risk [Member]
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dore [Member]      
Segment Reporting Information [Line Items]      
Concentration Risk, Percentage 74.00% 74.00% 72.00%
Concentrate [Member]      
Segment Reporting Information [Line Items]      
Concentration Risk, Percentage 26.00% 26.00% 28.00%
v3.22.4
Receivables (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Receivables - current portion    
Accounts receivable - trade $ 6,302 $ 4,879
Refundable value added tax 10,741 18,415
Income Taxes Receivable 9,719 8,418
Accounts and Financing Receivable, after Allowance for Credit Loss [1] 4,926 0
Derivative Asset, Current [2] 4,059 0
Accounts receivable - other 586 705
Receivables, net current portion 36,333 32,417
Receivables - non-current portion    
Deferred cash consideration (1) [1] 7,677 0
Contingent consideration (1) [1] 14,346 0
Non-current receivables: 22,023 0
Total receivables $ 58,356 $ 32,417
[1] See Note 14 -- Fair Value Measurements for additional details on the Avino note receivable, deferred cash consideration and contingent consideration.
[2] Represents realized gains on gold forward hedges from December 2022 that contractually settle in subsequent months. See Note 15 -- Derivative Financial Instruments & Hedging for additional details on the gold forward hedges.
v3.22.4
Inventory and Ore on Leach Pads (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Inventory Disclosure [Abstract]    
Inventory, Finished Goods, Net of Reserves $ 2,869 $ 1,643
Other Inventory, Net of Reserves 12,636 11,353
Inventory, Supplies, Net of Reserves 46,326 38,285
Inventory 61,831 51,281
Ore on Leach Pad, Current 82,958 81,128
Ore on leach pads, noncurrent 51,268 73,495
Inventory, Ore Stockpiles on Leach Pads, Gross 134,226 154,623
Inventory and Ore on Leach Pads 224,897 223,931
Long-Term Inventory Stockpile $ 28,840 $ 18,027
v3.22.4
Inventory and Ore on Leach Pads - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Inventory [Line Items]      
Inventory Write-down $ 45,978 $ 38,596 $ 16,821
Rochester [Member]      
Inventory [Line Items]      
Inventory Write-down 52,500    
Rochester [Member] | Amortization      
Inventory [Line Items]      
Inventory Write-down 6,600    
Rochester [Member] | Cost of Sales      
Inventory [Line Items]      
Inventory Write-down $ 46,000    
v3.22.4
Investments (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended
Jun. 28, 2022
Mar. 21, 2022
Jan. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Debt Securities, Available-for-sale [Abstract]              
Marketable Securities, Realized Gain (Loss)         $ (47,900) $ (10,400) $ (16,200)
Equity securities              
Investment in Marketable Securities (Textual) [Abstract]              
Cost         95,968 138,165  
Equity Securities, FV-NI, Unrealized Gain (Loss)       $ 0 0    
Equity Securities, FV-NI, Unrealized Gain       5,968 51,816    
Current liabilities         44,152 132,197  
Victoria Gold Corp | Equity securities              
Investment in Marketable Securities (Textual) [Abstract]              
Cost         70,560 128,710  
Equity Securities, FV-NI, Unrealized Gain (Loss)       0 0    
Equity Securities, FV-NI, Unrealized Gain       4,499 38,528    
Current liabilities         32,032 124,211  
Equity method investment, amount sold (in shares) 5,000,000            
Equity Method Investments, Sale of Stock, Price Per Share $ 8.34            
Proceeds from sale of equity method investments $ 40,500            
Equity method investment, realized loss on disposal $ 15,600            
Victoria Gold Corp | Equity securities | Subsequent Event              
Investment in Marketable Securities (Textual) [Abstract]              
Equity method investment, amount sold (in shares)     6,000,000        
Equity Method Investments, Sale of Stock, Price Per Share     $ 6.70        
Proceeds from sale of equity method investments     $ 39,800        
Integra Resources Corp. [Member] | Equity securities              
Investment in Marketable Securities (Textual) [Abstract]              
Cost         9,455 9,455  
Equity Securities, FV-NI, Unrealized Gain (Loss)       0 0    
Equity Securities, FV-NI, Unrealized Gain       $ 1,469 7,115    
Current liabilities         2,340 $ 7,986  
Avino Silver & Gold Mines Ltd | Equity securities              
Investment in Marketable Securities (Textual) [Abstract]              
Shares purchased during period, shares   14,000,000          
Investment owned, percent of assets   12.00%          
Cost         13,720    
Equity Securities, FV-NI, Unrealized Gain (Loss)         0    
Equity Securities, FV-NI, Unrealized Gain         4,199    
Current liabilities         9,521    
Other Investments [Member] | Equity securities              
Investment in Marketable Securities (Textual) [Abstract]              
Cost         2,233    
Equity Securities, FV-NI, Unrealized Gain (Loss)         0    
Equity Securities, FV-NI, Unrealized Gain         1,974    
Current liabilities         $ 259    
v3.22.4
Property, Plant and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Property, plant and equipment    
Land $ 8,242 $ 8,480
Buildings and Improvements, Gross 652,783 668,089
Finance Lease, Right-of-Use Asset, before Accumulated Amortization 148,174 115,652
Property, Plant and Equipment, Gross 809,199 792,221
Accumulated depreciation and amortization [1] (652,898) (620,303)
Property Plant and Equipment Net before Construction in Progress 156,301 171,918
Construction in Progress, Gross 236,019 148,049
Property, plant and equipment, net 392,320 319,967
Accumulated depreciation $ (80,336) $ (63,879)
[1] Includes $80.3 million and $63.9 million of accumulated amortization related to assets under finance leases at December 31, 2022 and December 31, 2021, respectively.
v3.22.4
Mining Properties (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Mining Properties    
Operational mining properties: $ 1,533,385 $ 1,248,734
Accumulated depletion (753,169) (710,132)
Operational mining properties, net 780,216 538,602
Mineral interest 821,112 905,998
Accumulated depletion (603,893) (591,801)
Mineral interest, net 217,219 314,197
Mineral Properties, Net 997,435 852,799
Palmarejo [Member]    
Mining Properties    
Operational mining properties: 336,656 307,698
Accumulated depletion (226,437) (211,187)
Operational mining properties, net 110,219 96,511
Mineral interest 629,303 629,303
Accumulated depletion (542,886) (532,155)
Mineral interest, net 86,417 97,148
Mineral Properties, Net 196,636 193,659
Rochester [Member]    
Mining Properties    
Operational mining properties: 637,321 437,833
Accumulated depletion (161,305) (158,805)
Operational mining properties, net 476,016 279,028
Mineral interest 19,098 19,098
Accumulated depletion 0 0
Mineral interest, net 19,098 19,098
Mineral Properties, Net 495,114 298,126
Kensington    
Mining Properties    
Operational mining properties: 410,255 382,492
Accumulated depletion (327,499) (302,582)
Operational mining properties, net 82,756 79,910
Mineral interest 0 0
Accumulated depletion 0 0
Mineral interest, net 0 0
Mineral Properties, Net 82,756 79,910
Wharf [Member]    
Mining Properties    
Operational mining properties: 67,326 49,045
Accumulated depletion (25,306) (24,358)
Operational mining properties, net 42,020 24,687
Mineral interest 48,062 48,062
Accumulated depletion (36,179) (34,818)
Mineral interest, net 11,883 13,244
Mineral Properties, Net 53,903 37,931
Silvertip [Member]    
Mining Properties    
Operational mining properties: 81,827 67,805
Accumulated depletion (12,622) (11,685)
Operational mining properties, net 69,205 56,120
Mineral interest 114,036 114,036
Accumulated depletion (24,828) (24,828)
Mineral interest, net 89,208 89,208
Mineral Properties, Net 158,413 145,328
Sterling [Member]    
Mining Properties    
Operational mining properties: 0 3,861
Accumulated depletion 0 (1,515)
Operational mining properties, net 0 2,346
Mineral interest 0 95,499
Accumulated depletion 0 0
Mineral interest, net 0 95,499
Mineral Properties, Net 0 97,845
Other Mining Properties [Member]    
Mining Properties    
Operational mining properties: 0 0
Accumulated depletion 0 0
Operational mining properties, net 0 0
Mineral interest 10,613 0
Accumulated depletion 0 0
Mineral interest, net 10,613 0
Mineral Properties, Net $ 10,613 $ 0
v3.22.4
Leases - Summary of Lease Cost and Cash Flow Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Lease Cost      
Operating lease cost $ 11,939 $ 12,585 $ 12,036
Short-term Lease, Cost 10,573 11,219 8,055
Finance Lease Cost:      
Amortization of leased assets 21,571 21,685 23,921
Total finance lease cost 26,655 26,317 27,555
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows from operating leases 22,511 24,009 21,348
Financing cash flows from finance leases 31,316 31,544 25,984
Finance Lease, Interest Expense $ 5,084 $ 4,632 $ 3,634
v3.22.4
Leases - Supplemental Balance Sheet Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Weighted Average Discount Rate    
Weighted-average discount rate - finance leases 5.21% 5.08%
Weighted-average discount rate - operating leases 5.24% 5.20%
Operating Leases    
Other assets, non-current $ 24,603 $ 30,987
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued liabilities and other Accrued liabilities and other
Accrued liabilities and other $ 11,560 $ 11,301
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other long-term liabilities Other long-term liabilities
Other long-term liabilities $ 14,946 $ 18,660
Total operating lease liabilities 26,506 29,961
Finance Leases    
Property and equipment, gross 148,174 115,597
Accumulated depreciation (80,336) (63,879)
Property and equipment, net 67,838 51,718
Debt, current 24,578 29,821
Debt, non-current 42,143 24,407
Total finance lease liabilities $ 66,721 $ 54,228
Weighted Average Remaining Lease Term    
Weighted-average remaining lease term - finance leases 1 year 9 months 3 days 1 year 7 months 13 days
Weighted-average remaining lease term - operating leases 4 years 5 months 8 days 3 years 2 months 1 day
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Debt Debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Book value Book value
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other Assets, Noncurrent Other Assets, Noncurrent
Capital Lease Obligations    
Finance Leases    
Debt, non-current $ 42,143 $ 24,407
Capital Lease Obligations    
Finance Leases    
Debt, current $ 24,578 $ 29,821
v3.22.4
Leases - Summary of Minimum Future Lease Payments (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Operating leases    
2023 $ 11,869  
2024 9,710  
2025 696  
2026 713  
2027 847  
Thereafter 6,503  
Total 30,338  
Less: imputed interest (3,832)  
Net lease obligation 26,506 $ 29,961
Finance leases    
2023 25,999  
2024 19,452  
2025 16,839  
2026 8,429  
2027 1,821  
Thereafter 0  
Total 72,540  
Less: imputed interest (5,819)  
Net lease obligation $ 66,721 $ 54,228
v3.22.4
Debt (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Long term debt and capital lease obligations    
Current $ 24,578 $ 29,821
Debt 491,355 457,680
Debt, current 24,578 29,821
Senior Notes due 2029    
Long term debt and capital lease obligations    
Net unamortized debt issuance costs 5,800 6,700
Senior Notes due 2029    
Long term debt and capital lease obligations    
Debt [1] 369,212 368,273
Revolving Credit Facility    
Long term debt and capital lease obligations    
Debt [2] 80,000 65,000
Senior Notes due 2029    
Long term debt and capital lease obligations    
Current [1] 0 0
Revolving Credit Facility    
Long term debt and capital lease obligations    
Current [2] 0 0
Capital Lease Obligations    
Long term debt and capital lease obligations    
Debt, current 24,578 29,821
Revolving Credit Facility    
Long term debt and capital lease obligations    
Net unamortized debt issuance costs $ 3,600 $ 2,400
[1] Net of unamortized debt issuance costs of $5.8 million and $6.7 million at December 31, 2022 and December 31, 2021, respectively.
[2] Unamortized debt issuance costs of $3.6 million and $2.4 million at December 31, 2022 and December 31, 2021, respectively, included in Other Non-Current Assets
v3.22.4
Debt (Details Textual) - USD ($)
 1 Months Ended 12 Months Ended
Nov. 09, 2022
May 02, 2022
Mar. 31, 2021
Mar. 01, 2021
Jun. 01, 2020
Mar. 31, 2021
Oct. 31, 2018
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 14, 2020
Dec. 13, 2020
Sep. 30, 2020
Sep. 30, 2018
May 31, 2017
Debt Instrument [Line Items]                              
Gain (Loss) on Extinguishment of Debt               $ 0 $ (9,173,000) $ 0          
Financing cash flows from finance leases               $ 31,316,000 31,544,000 $ 25,984,000          
Senior Notes due 2024                              
Debt Instrument [Line Items]                              
Stated interest rate               5.125%             5.875%
Debt instrument, redemption price, percentage           105.125%                  
Letters of credit outstanding, amount               $ 230,000,000              
Repayments of senior debt     $ 127,200,000 $ 102,800,000                      
Gain (Loss) on Extinguishment of Debt     $ 9,200,000                        
Debt instrument, redemption price, per $1000 of principal         $ 1,029.38                    
Rochester Finance Lease | Line of Credit                              
Debt Instrument [Line Items]                              
Debt Instrument, Face Amount                 $ 60,000,000            
Stated interest rate               5.20%              
Financing cash flows from finance leases               $ 55,700,000              
Senior Notes due 2029                              
Debt Instrument [Line Items]                              
Debt Instrument, Face Amount               375,000,000              
Proceeds from debt           $ 367,500,000                  
Revolving Credit Facility                              
Debt Instrument [Line Items]                              
Line of credit facility       100,000,000     $ 50,000,000                
Maximum borrowing capacity       $ 300,000,000     $ 250,000,000       $ 300,000,000 $ 250,000,000 $ 200,000,000 $ 200,000,000  
Integration costs $ 50,000,000                            
Cash-on-hand threshold $ 60,000,000                            
Letters of credit outstanding, amount               29,600,000              
Revolving Credit Facility | Line of Credit                              
Debt Instrument [Line Items]                              
Long-term debt               80,000,000              
Amount available subject to debt covenants               $ 280,400,000              
Stated interest rate               7.90%              
Revolving Credit Facility | Credit Agreement | Line of Credit                              
Debt Instrument [Line Items]                              
Line of credit facility   $ 300,000,000                          
Maximum borrowing capacity   $ 390,000,000                          
Base Rate [Member] | Minimum | Revolving Credit Facility                              
Debt Instrument [Line Items]                              
Debt Instrument, Basis Spread on Variable Rate               1.00%              
Base Rate [Member] | Maximum | Revolving Credit Facility                              
Debt Instrument [Line Items]                              
Debt Instrument, Basis Spread on Variable Rate               1.75%              
London Interbank Offered Rate (LIBOR) [Member] | Minimum | Revolving Credit Facility                              
Debt Instrument [Line Items]                              
Debt Instrument, Basis Spread on Variable Rate               2.00%              
London Interbank Offered Rate (LIBOR) [Member] | Maximum | Revolving Credit Facility                              
Debt Instrument [Line Items]                              
Debt Instrument, Basis Spread on Variable Rate               2.75%              
v3.22.4
Debt - Interest Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Debt Disclosure [Abstract]      
Interest paid on Senior Notes due 2024 $ 0 $ 2,591 $ 13,513
Interest paid on Senior Notes due 2029 19,219 16,016 0
Interest paid on Revolving Credit Facility 8,503 2,296 3,165
Finance Lease, Interest Expense 5,084 4,632 3,634
Amortization of Debt Issuance Costs 2,052 1,726 1,525
Interest Expense, Other 166 303 344
Interest Costs Capitalized Adjustment (11,163) (11,113) (1,473)
Interest Costs Incurred $ 23,861 $ 16,451 $ 20,708
v3.22.4
Reclamation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Asset Retirement Obligation Disclosure [Abstract]      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum 7.40%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum 10.10%    
Asset Retirement Obligation $ 202,431 $ 181,888 $ 139,274
Asset Retirement Obligation, Accretion Expense, Excluding Held for Sale Disposal Group. 14,232 11,988  
Additions and changes in estimates 13,001 34,927  
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property (1,840) 0  
Asset Retirement Obligation, Liabilities Settled $ (4,850) $ (4,301)  
v3.22.4
Income and Mining Taxes - Income (Loss) Before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Tax Examination [Line Items]      
United States, Income (loss) before tax $ (107,477) $ (34,196) $ 40,890
Foreign, Income (loss) before tax (44,028) (37,832) (21,782)
Income (loss) before income and mining taxes (63,449) 3,636 62,672
Tax (expense) benefit $ 14,658 $ 34,958 $ 37,045
v3.22.4
Income and Mining Taxes - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Tax Disclosure [Abstract]      
Operating loss carryforwards, domestic $ 535,000    
Operating loss carryforwards, state and local 425,200    
Tax (expense) benefit 14,658 $ 34,958 $ 37,045
Unrecognized income tax liability 100    
Unrecognized tax benefits 4 300 700
Income-tax related interest and penalties $ 0 $ 400 $ 1,100
Expiration term 20 years    
Operating loss carryforwards subject to expiration $ 320,100    
Operating loss carryforwards not subject to expiration $ 214,900    
v3.22.4
Income and Mining Taxes - Reconciliation of Effective Income Tax Rate (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Tax Disclosure [Abstract]      
Income and mining tax (expense) benefit at statutory rate $ 13,249 $ (764) $ (13,161)
State tax provision from continuing operations 2,871 2,009 (152)
Change in valuation allowance (36,670) (28,615) (17,522)
Percentage depletion 3,538 4,968 5,056
Uncertain tax positions 655 920 2,321
U.S. and foreign permanent differences 365 4,105 3,844
Foreign exchange rates (145) (384) 1,390
Foreign inflation and indexing 2,897 (1,087) 684
Foreign tax rate differences (4,994) (4,901) (3,971)
Mining, foreign withholding, and other taxes (11,070) (12,599) (17,457)
Sale of non-core assets 15,447 0 0
Other, net (801) 1,390 1,923
Income and mining tax benefit (expense) $ 14,658 $ 34,958 $ 37,045
v3.22.4
Income and Mining Taxes - Income and Mining Tax (Expense) Benefit (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Tax Examination [Line Items]      
Income and mining tax (expense) benefit $ (14,658) $ (34,958) $ (37,045)
Current Other Tax Expense (Benefit) 0 0 33
Deferred Other Tax Expense (Benefit) 0 0 0
United States      
Income Tax Examination [Line Items]      
Current Federal Tax Expense (Benefit) (21) 25 226
Deferred Federal Income Tax Expense (Benefit) 215 (651) (49)
United States — State mining taxes      
Income Tax Examination [Line Items]      
Current Federal Tax Expense (Benefit) (2,936) (5,691) (8,384)
Deferred Federal Income Tax Expense (Benefit) 5,558 1,037 (354)
United States — Foreign withholding tax      
Income Tax Examination [Line Items]      
Current Federal Tax Expense (Benefit) (300) (862) (800)
Canada      
Income Tax Examination [Line Items]      
Current Foreign Tax Expense (Benefit) (305) 0 232
Deferred Foreign Income Tax Expense (Benefit) 254 1,224 0
Mexico      
Income Tax Examination [Line Items]      
Current Foreign Tax Expense (Benefit) (29,546) (31,175) (36,066)
Deferred Foreign Income Tax Expense (Benefit) $ 12,423 $ 1,135 $ 8,117
v3.22.4
Income and Mining Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Deferred tax assets:    
Royalty and other long-term debt $ 0 $ 1,495
Deferred Tax Liabilities, Gross 0 1,495
Net operating loss carryforwards 282,776 267,944
Deferred Tax Assets, Mineral Properties 31,095 6,525
Property, plant, and equipment 12,562 13,161
Mining Royalty Tax 7,440 8,147
Capital loss carryforwards 1,784 15,404
Asset retirement obligation 44,413 39,262
Unrealized foreign currency loss and other 0 1,013
Accrued expenses 30,379 20,589
Tax credit carryforwards 16,167 26,594
Deferred Tax Assets, Other 3,914 0
Deferred Tax Assets, Gross 430,530 398,639
Valuation allowance (444,989) (430,053)
Deferred Tax Assets, Net of Valuation Allowance (14,459) (31,414)
Deferred Tax Liabilities, Net $ 14,459 $ 32,909
v3.22.4
Income and Mining Taxes - Valuation Allowance (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Income Tax Examination [Line Items]    
Valuation allowance $ 444,989 $ 430,053
United States    
Income Tax Examination [Line Items]    
Valuation allowance 245,899 228,942
Canada    
Income Tax Examination [Line Items]    
Valuation allowance 178,310 165,561
Mexico    
Income Tax Examination [Line Items]    
Valuation allowance 441 13,277
New Zealand    
Income Tax Examination [Line Items]    
Valuation allowance 19,993 21,822
Other jurisdictions    
Income Tax Examination [Line Items]    
Valuation allowance $ 346 $ 451
v3.22.4
Income and Mining Taxes - Summary of Tax Credit Carryforwards (Details)
$ in Thousands
Dec. 31, 2022
USD ($)
Tax Credit Carryforward [Line Items]  
Regular net operating losses $ 1,051,097
Capital losses 0
Foreign tax credits 10,864
United States  
Tax Credit Carryforward [Line Items]  
Regular net operating losses 535,016
Capital losses 0
Foreign tax credits 10,864
Canada  
Tax Credit Carryforward [Line Items]  
Regular net operating losses 442,941
Mexico  
Tax Credit Carryforward [Line Items]  
Regular net operating losses 1,046
New Zealand  
Tax Credit Carryforward [Line Items]  
Regular net operating losses 71,117
Other jurisdictions  
Tax Credit Carryforward [Line Items]  
Regular net operating losses $ 977
v3.22.4
Income and Mining Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized Tax Benefits $ 4 $ 295 $ 723
Gross increase to current period tax positions 0 0  
Gross increase to prior period tax positions 24  
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations $ (315) $ (428)  
v3.22.4
Stock-Based Compensation - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unrecognized stock-based compensation cost $ 7.8    
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 6 months    
Annual Incentive Plan and Long Term Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation expense for stock based compensation awards $ 10.0 $ 13.7 $ 8.5
v3.22.4
Stock-Based Compensation - Summary of Grants Awarded (Details) - $ / shares
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Restricted stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock 2,056,121 932,442 1,676,634
Grant date fair value of restricted stock $ 4.07 $ 8.88 $ 5.13
Performance shares      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock 1,325,418 602,933 1,343,953
Grant date fair value of restricted stock $ 4.53 $ 10.13 $ 3.95
v3.22.4
Stock-Based Compensation - Restriced Stock Activity (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Unrecognized stock-based compensation cost $ 7.8      
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 6 months      
Restricted stock        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Restricted stock award vesting period 3 years      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Unrecognized stock-based compensation cost $ 4.3      
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 3 months 18 days      
Shares outstanding (in shares) 2,784,610 2,144,804 2,724,724 2,184,675
Shares outstanding, Weighted Average Grant Date Fair Value (in dollars per share) $ 5.05 $ 6.60 $ 5.26 $ 5.89
Restricted stock 2,056,121 932,442 1,676,634  
Grant date fair value of restricted stock $ 4.07 $ 8.88 $ 5.13  
Vested (in shares) (1,114,513) (1,179,857) (928,778)  
Vested (in dollars per share) $ 6.08 $ 5.53 $ 6.46  
Canceled/Forfeited (in shares) (301,802) (332,505) (207,807)  
Canceled/Forfeited (in dollars per share) $ 5.74 $ 5.83 $ 5.36  
Performance shares        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Unrecognized stock-based compensation cost $ 3.5      
Unrecognized stock-based compensation cost, weighted-average period recognized 1 year 8 months 12 days      
Shares outstanding (in shares) 2,574,537 2,390,013 2,335,102 1,214,145
Shares outstanding, Weighted Average Grant Date Fair Value (in dollars per share) $ 5.26 $ 5.80 $ 4.83 $ 6.93
Restricted stock 1,325,418 602,933 1,343,953  
Grant date fair value of restricted stock $ 4.53 $ 10.13 $ 3.95  
Vested (in shares) (824,064) (143,312) (54,132)  
Vested (in dollars per share) $ 5.54 $ 7.39 $ 11.47  
Canceled/Forfeited (in shares) (316,830) (404,710) (168,864)  
Canceled/Forfeited (in dollars per share) $ 6.11 $ 6.12 $ 10.71  
Performance shares | 2017 Award [Member]        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Restricted stock 6,226      
Canceled/Forfeited (in shares) (143,808)      
Performance shares | 2018 Award        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Restricted stock 1,421      
Canceled/Forfeited (in shares) (141,894)      
Performance shares | 2019 Award        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]        
Restricted stock 175,828      
v3.22.4
Stock-Based Compensation - Share Appreciation Rights (Details) - $ / shares
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]        
Stock options outstanding (in shares) 93,988 131,253 222,273 291,779
Stock options outstanding (in dollars per share) $ 14.41 $ 16.91 $ 15.44 $ 14.05
SARS outstanding (in shares) 0 0 0 32,282
SARs outstanding (in dollars per share) $ 0 $ 0 $ 0 $ 15.40
Stock options granted (in shares)   (57,721) (30,401)  
Stock options granted (in dollars per share)   $ 7.74 $ 5.57  
SARs granted (in shares)   0 0  
SARs granted (in dollars per share)   $ 0 $ 0  
Stock options exercised (in shares) (5,598) (16,455) (39,105)  
Stock options exercised (in dollars per share) $ 11.88 $ 18.45 $ 12.77  
SARs exercised (in shares) 0 0 0  
SARs exercised (in dollars per share) $ 0 $ 0 $ 0  
Stock options canceled/forfeited (in shares)     0  
Stock options canceled/forfeited (in dollars per share)     $ 0  
SARs canceled/forfeited (in shares)     (32,282)  
SARs canceled/forfeited (in dollars per share)     $ 15.40  
Stock options expired (in shares) (31,667) (16,844)    
Stock options expired (in dollars per share) $ 25.19 $ 27.45    
SARs expired (in shares) 0 0    
SARS expired (in dollars per share) $ 0 $ 0    
v3.22.4
Stock-Based Compensation - Outstanding Stock Options (Details) - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]      
Options exercises in period, intrinsic value $ 0    
Proceeds from stock options exercised 0    
Options, vested in period, fair value $ 0 $ 0 $ 0
Outstanding, shares 93,988    
Outstanding (in dollars per share) $ 14.41    
Outstanding, remaining term 2 years    
Outstanding, intrinsic value $ 0    
Vested and expected to vest, shares 93,988    
Vested and expected to vest (in dollars per share) $ 14.41    
Vested and expected to vest, remaining term 2 years    
Vested and expected to vest, intrinsic value $ 0    
Exercisable, shares 93,988    
Exercisable (in dollars per share) $ 14.41    
Exercisable, remaining term 2 years    
Exercisable, intrinsic value $ 0    
Zero to Ten Dollars      
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]      
Outstanding, shares 54,330    
Outstanding (in dollars per share) $ 7.49    
Outstanding, remaining term 3 years 4 months 24 days    
Ten Dollars to Twenty Dollars      
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]      
Outstanding, shares 0    
Outstanding (in dollars per share) $ 0    
Outstanding, remaining term 0 years    
Twenty Dollars to Thirty Dollars      
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]      
Outstanding, shares 39,658    
Outstanding (in dollars per share) $ 23.9    
Outstanding, remaining term 1 month 6 days    
v3.22.4
Fair Value Measurements - Summary of Gain (Loss) Derivative Instruments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair value adjustments, net $ (66,668) $ (543) $ 7,601
Unrealized gain (loss) on equity securities (63,529) (10,476) 7,601
Termination of gold zero cost collars (3,139) 0 0
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net $ 0 $ 9,933 $ 0
v3.22.4
Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Assets:    
Equity securities $ 12,120 $ 132,197
Fair Value, Recurring    
Assets:    
Assets 56,794 132,283
Liabilities:    
Total liabilities   1,374
Provisional metal sales contracts | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net 299 86
Liabilities:    
Fair value of derivative liability 10 162
Gold zero cost collars | Fair Value, Recurring    
Liabilities:    
Fair value of derivative liability   1,212
Gold Forwards | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net 12,343  
Equity Securities | Fair Value, Recurring    
Assets:    
Equity securities   132,197
Liabilities:    
Marketable securities including warrants 44,152  
Level 1 | Fair Value, Recurring    
Assets:    
Assets 43,893 132,197
Liabilities:    
Total liabilities   0
Level 1 | Provisional metal sales contracts | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net 0 0
Liabilities:    
Fair value of derivative liability 0 0
Level 1 | Gold zero cost collars | Fair Value, Recurring    
Liabilities:    
Fair value of derivative liability   0
Level 1 | Gold Forwards | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net 0  
Level 1 | Equity Securities | Fair Value, Recurring    
Assets:    
Equity securities   132,197
Liabilities:    
Marketable securities including warrants 43,893  
Level 2 | Fair Value, Recurring    
Assets:    
Assets 12,901 86
Liabilities:    
Total liabilities   1,374
Level 2 | Provisional metal sales contracts | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net 299 86
Liabilities:    
Fair value of derivative liability 10 162
Level 2 | Gold zero cost collars | Fair Value, Recurring    
Liabilities:    
Fair value of derivative liability   1,212
Level 2 | Gold Forwards | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net 12,343  
Level 2 | Equity Securities | Fair Value, Recurring    
Assets:    
Equity securities   0
Liabilities:    
Marketable securities including warrants 259  
Level 3   | Fair Value, Recurring    
Assets:    
Assets 0 0
Liabilities:    
Total liabilities   0
Level 3   | Provisional metal sales contracts | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net 0 0
Liabilities:    
Fair value of derivative liability 0 0
Level 3   | Gold zero cost collars | Fair Value, Recurring    
Liabilities:    
Fair value of derivative liability   0
Level 3   | Gold Forwards | Fair Value, Recurring    
Assets:    
Fair value of other derivative instruments, net 0  
Level 3   | Equity Securities | Fair Value, Recurring    
Assets:    
Equity securities   $ 0
Liabilities:    
Marketable securities including warrants $ 0  
v3.22.4
Fair Value Measurements - Summary of Level 3 Financial Assets and Liabilities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue $ 785,636 $ 832,828 $ 785,461
Amortization 111,626 128,315 131,387
Other operating expenses 80,747 89,077 89,376
Fair value adjustments, net, pretax (66,668) (543) 7,601
Interest expense, net of capitalized interest (23,861) (16,451) (20,708)
Other, net   (22,925) (5,941)
Income and mining tax (expense) benefit (14,658) (34,958) (37,045)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (78,107) (31,322) 25,627
Assets, Net 1,669,982 1,424,934 1,232,153
Payments to Acquire Productive Assets 352,354 309,781 99,279
Palmarejo [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Amortization 35,432 36,062 44,873
Other operating expenses 4,372 4,443 7,927
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (12) (592) (918)
Other, net 3,204 (28,197) (5,273)
Income and mining tax (expense) benefit (28,771) (29,730) (28,029)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 48,870 59,034 67,402
Assets, Net 295,715 294,893 305,291
Payments to Acquire Productive Assets 42,648 36,539 25,511
Rochester [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Amortization 22,626 20,187 14,306
Other operating expenses 7,340 5,886 5,144
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (810) (1,034) (1,142)
Other, net (506) (357) (2,718)
Income and mining tax (expense) benefit 876 559 (863)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (70,536) (33,339) (3,335)
Assets, Net 809,116 559,283 346,986
Payments to Acquire Productive Assets 246,360 166,548 37,542
Kensington      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Amortization 39,032 54,933 49,477
Other operating expenses 1,870 6,299 12,012
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (1,446) (704) (1,017)
Other, net (21) (150) (18)
Income and mining tax (expense) benefit 127 (414) (1,244)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (2,111) 12,784 22,434
Assets, Net 148,516 142,926 169,414
Payments to Acquire Productive Assets 31,456 27,522 19,825
Wharf [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Amortization 8,247 11,038 12,473
Other operating expenses 1,947 1,786 838
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (66) (145) (182)
Other, net 506 1,650 (69)
Income and mining tax (expense) benefit (2,868) (4,799) (6,644)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 34,361 56,887 59,501
Assets, Net 105,209 87,579 75,047
Payments to Acquire Productive Assets 3,138 8,072 2,447
Silvertip [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Amortization 4,912 4,797 8,923
Other operating expenses 22,322 25,031 23,123
Fair value adjustments, net, pretax 0 0 0
Interest expense, net of capitalized interest (176) 1,276 (672)
Other, net (354) (1,465) 1,793
Income and mining tax (expense) benefit 0 1,478 0
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (32,392) (43,826) (58,927)
Assets, Net 244,151 230,617 157,529
Payments to Acquire Productive Assets 24,797 70,069 13,144
Other Mining Properties [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Amortization 1,377 1,298 1,335
Other operating expenses 42,896 45,632 40,332
Fair value adjustments, net, pretax (66,668) (543) 7,601
Interest expense, net of capitalized interest (21,351) (15,252) (16,777)
Other, net 64,142 5,594 344
Income and mining tax (expense) benefit 15,978 (2,052) (265)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (56,299) (82,862) (61,448)
Assets, Net 67,275 109,636 177,886
Payments to Acquire Productive Assets 3,955 1,031 810
Gold [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 572,877 578,911 584,633
Gold [Member] | Palmarejo [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 157,595 150,098 154,056
Gold [Member] | Rochester [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 64,460 49,659 46,337
Gold [Member] | Kensington      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 201,859 214,635 216,497
Gold [Member] | Wharf [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 148,963 164,519 167,743
Gold [Member] | Silvertip [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 0 0 0
Gold [Member] | Other Mining Properties [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 0 0 0
Product, Silver      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 212,759 253,917 200,175
Product, Silver | Palmarejo [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 145,839 170,176 132,525
Product, Silver | Rochester [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 65,203 81,163 63,916
Product, Silver | Kensington      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 634 370 0
Product, Silver | Wharf [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 1,083 2,208 2,504
Product, Silver | Silvertip [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 0 0 1,230
Product, Silver | Other Mining Properties [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 0 0 0
Product, Zinc      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     (662)
Product, Zinc | Palmarejo [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     0
Product, Zinc | Rochester [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     0
Product, Zinc | Kensington      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     0
Product, Zinc | Wharf [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     0
Product, Zinc | Silvertip [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     (662)
Product, Zinc | Other Mining Properties [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     0
Product, Lead      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     1,315
Product, Lead | Palmarejo [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     0
Product, Lead | Rochester [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     0
Product, Lead | Kensington      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     0
Product, Lead | Wharf [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     0
Product, Lead | Silvertip [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     1,315
Product, Lead | Other Mining Properties [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue     0
Product, Metal [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 785,636 832,828 785,461
Product, Metal [Member] | Palmarejo [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 303,434 320,274 286,581
Product, Metal [Member] | Rochester [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 129,663 130,822 110,253
Product, Metal [Member] | Kensington      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 202,493 215,005 216,497
Product, Metal [Member] | Wharf [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 150,046 166,727 170,247
Product, Metal [Member] | Silvertip [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 0 0 1,883
Product, Metal [Member] | Other Mining Properties [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Revenue 0 0 0
Product      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales [1] 606,530 511,539 440,335
Product | Palmarejo [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales 182,576 [1] 153,655 125,204
Product | Rochester [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales 165,166 [1] 131,240 86,112
Product | Kensington      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales 155,725 [1] 133,065 121,727
Product | Wharf [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales 103,063 [1] 93,579 89,635
Product | Silvertip [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales 0 [1] 0 17,657
Product | Other Mining Properties [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales 0 [1] 0 0
Mineral, Exploration      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales 26,624 51,169 42,643
Mineral, Exploration | Palmarejo [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales 6,605 8,561 6,955
Mineral, Exploration | Rochester [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales 4,627 6,016 3,303
Mineral, Exploration | Kensington      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales 6,637 6,656 8,568
Mineral, Exploration | Wharf [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales 0 143 905
Mineral, Exploration | Silvertip [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales 4,628 15,287 12,228
Mineral, Exploration | Other Mining Properties [Member]      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Costs applicable to sales $ 4,127 14,506 10,684
Exchange Agreement      
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Balance at the end of the period   0 $ 0
Revaluation   (9,933)  
Settlements   0  
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Initial Valuation   $ 9,933  
[1] Excludes amortization.
v3.22.4
Fair Value Measurements - Summary of Assets and Liabilities Carried at Book Value (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
May 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Book value $ 491,355 $ 457,680  
Revolving Credit Facility      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Book value [1] 80,000 65,000  
Senior Notes due 2029      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Book value [2] 369,212 368,273  
Reported Value Measurement | Promissory note      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Receivables, fair value disclosure 4,926    
Reported Value Measurement | Deferred cash consideration      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Receivables, fair value disclosure 7,677    
Estimate of Fair Value Measurement | Promissory note      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Receivables, fair value disclosure 4,579    
Estimate of Fair Value Measurement | Deferred cash consideration      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Receivables, fair value disclosure 7,317    
Estimate of Fair Value Measurement | Level 1 | Promissory note      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Receivables, fair value disclosure 0    
Estimate of Fair Value Measurement | Level 1 | Deferred cash consideration      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Receivables, fair value disclosure 0    
Estimate of Fair Value Measurement | Level 2 | Promissory note      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Receivables, fair value disclosure 4,579    
Estimate of Fair Value Measurement | Level 2 | Deferred cash consideration      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Receivables, fair value disclosure 7,317    
Estimate of Fair Value Measurement | Level 3   | Promissory note      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Receivables, fair value disclosure 0    
Estimate of Fair Value Measurement | Level 3   | Deferred cash consideration      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Receivables, fair value disclosure 0    
Portion at Other than Fair Value Measurement | Senior Notes due 2024      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of long-term debt   337,384  
Portion at Other than Fair Value Measurement | Senior Notes due 2024 | Level 1      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of long-term debt   0  
Portion at Other than Fair Value Measurement | Senior Notes due 2024 | Level 2      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of long-term debt   337,384  
Portion at Other than Fair Value Measurement | Senior Notes due 2024 | Level 3        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of long-term debt   0  
Portion at Other than Fair Value Measurement | Revolving Credit Facility      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of long-term debt 80,000 65,000  
Portion at Other than Fair Value Measurement | Revolving Credit Facility | Level 1      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of long-term debt 0 0  
Portion at Other than Fair Value Measurement | Revolving Credit Facility | Level 2      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of long-term debt 80,000 65,000  
Portion at Other than Fair Value Measurement | Revolving Credit Facility | Level 3        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of long-term debt 0 0  
Portion at Other than Fair Value Measurement | Senior Notes due 2029      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of long-term debt 291,924    
Portion at Other than Fair Value Measurement | Senior Notes due 2029 | Level 1      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of long-term debt 0    
Portion at Other than Fair Value Measurement | Senior Notes due 2029 | Level 2      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of long-term debt 291,924    
Portion at Other than Fair Value Measurement | Senior Notes due 2029 | Level 3        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Fair value of long-term debt $ 0    
Senior Notes due 2024      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Stated interest rate 5.125%   5.875%
Senior Notes due 2029      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Net unamortized debt issuance costs $ 5,800 6,700  
Revolving Credit Facility      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Net unamortized debt issuance costs $ 3,600 $ 2,400  
[1] Unamortized debt issuance costs of $3.6 million and $2.4 million at December 31, 2022 and December 31, 2021, respectively, included in Other Non-Current Assets
[2] Net of unamortized debt issuance costs of $5.8 million and $6.7 million at December 31, 2022 and December 31, 2021, respectively.
v3.22.4
Fair Value Measurements - Narrative (Details)
 12 Months Ended
Oct. 27, 2021
USD ($)
royalty
$ / oz
May 10, 2021
shares
Dec. 31, 2022
USD ($)
$ / oz
Sep. 18, 2022
USD ($)
oz
May 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Contingent consideration asset fair value disclosure | $     $ 13,000,000    
Measurement Input, Silver Price Volatility          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Disposal group, consideration, measurement input     0.335    
Measurement Input, Gold Price Volatility          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Disposal group, consideration, measurement input     0.190    
Measurement Input, Weighted Average Cost of Capital          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Disposal group, consideration, measurement input     0.155    
Minimum          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assumed silver price (US Dollars per ounce) | $ / oz     22    
Assumed gold price (US Dollars per ounce) | $ / oz     1,700    
Contingent Consideration Asset, Measurement Input     5 years    
Maximum          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assumed silver price (US Dollars per ounce) | $ / oz     25    
Assumed gold price (US Dollars per ounce) | $ / oz     1,930    
Contingent Consideration Asset, Measurement Input     30 years    
Fair Value, Nonrecurring          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Royalties receivable fair value disclosure | $ $ 11,200,000        
Contingent consideration asset fair value disclosure | $ $ 1,200,000        
Disposal Group, Including Discontinued Operation, Number Of Royalties Disposed Of | royalty 2        
Discontinued Operations, Disposed of by Sale | La Preciosa [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Disposal group, including discontinued operation, contingent consideration, payments per silver equivalent | $ / oz 0.25        
Disposal Group, Including Discontinued Operation, Number Of Royalties Disposed Of | royalty 2        
Disposal Group, Including Discontinued Operation, Contingent Consideration, Maximum | $ $ 50,000,000        
Held-for-sale | AngloGold Ashanti          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Contingent consideration liability | $       $ 50,000,000  
Gold ounces threshold for contingent consideration | oz       3,500,000  
Held-for-sale | AngloGold Ashanti | Measurement Input, Discount Rate          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Disposal group, consideration, measurement input       0.081  
Gloria And Abundancia | Discontinued Operations, Disposed of by Sale | La Preciosa [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Discontinued operation, consideration, royalties on properties 1.25%        
Areas Other Than Gloria And Abundancia | Discontinued Operations, Disposed of by Sale | La Preciosa [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Discontinued operation, consideration, royalties on properties 2.00%        
Senior Notes due 2024          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Stated interest rate     5.125%   5.875%
Victoria Gold Corp          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Asset acquisition, number of common stock shares acquired | shares   11,067,714      
Asset acquisition, entity shares issued in exchange agreement (in shares) | shares   12,785,485      
v3.22.4
Derivative Financial Instruments - Summary of Provisionally Priced Sales (Details) - Gold concentrates sales agreements
$ in Thousands
Dec. 31, 2022
USD ($)
oz
$ / oz
2018  
Derivative instruments Settlement  
Derivative average price | $ / oz 1,786
Notional Amount Derivative | $ $ 26,004
Outstanding Provisionally Priced Sales Consists of Gold | oz 14,556
2024 and Thereafter  
Derivative instruments Settlement  
Derivative average price | $ / oz 0
Notional Amount Derivative | $ $ 0
Outstanding Provisionally Priced Sales Consists of Gold | oz 0
v3.22.4
Derivative Financial Instruments - Summary of Classification of Fair Value of Derivative Instruments (Details) - Silver and Gold Concentrate Sales Agreements - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Prepaid expenses and other    
Fair value of the derivative instruments    
Fair value of derivative asset $ 299 $ 86
Accrued liabilities and other    
Fair value of the derivative instruments    
Fair value of derivative liability $ 10 $ 162
v3.22.4
Derivative Financial Instruments - Summary of Mark-to-Market Gain (Losses) on Derivative Instruments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]      
Provisional gain (loss) on derivatives and commodity contracts $ 365 $ (490) $ 959
Fair value adjustments, net, pretax (66,668) (543) 7,601
Fair value adjustments, net (2,774) 9,443 959
Termination of gold zero cost collars (3,139) 0 0
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net $ 0 $ 9,933 $ 0
v3.22.4
Derivative Financial Instruments - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Derivative [Line Items]      
Provisional gain (loss) on derivatives and commodity contracts $ 365 $ (490) $ 959
Unrealized gain (loss) on hedger, net of tax 37,445 22,783 (12,434)
Termination of gold zero cost collars 3,139 0 0
Designated as Hedging Instrument      
Derivative [Line Items]      
Gains (losses) reclassified from AOCI into net income - effective portion: (23,890) (12,859) 1,434
Gains (losses) recognized in OCI - effective portion: 37,445 22,783 (12,434)
Designated as Hedging Instrument | Gold zero cost collars      
Derivative [Line Items]      
Gains (losses) reclassified from AOCI into net income - effective portion: 4,598 938 7,598
Gains (losses) recognized in OCI - effective portion: (4,598) 22,733 (32,345)
Unrealized gain (loss) on hedger, net of tax 7,700    
Termination of gold zero cost collars 3,100    
Termination of zero gold cost collars recorded to other comprehensive income (loss) 4,600    
Designated as Hedging Instrument | Gold Forwards      
Derivative [Line Items]      
After tax gains in AOCI 12,300    
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months 12,300    
Gains (losses) reclassified from AOCI into net income - effective portion: (28,488) 0 0
Gains (losses) recognized in OCI - effective portion: $ 42,043 $ 0 $ 0
v3.22.4
Derivative Financial Instruments - Summary of Classification of Fair Value on Derivatives Designated as Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Gold zero cost collars | Prepaid expenses and other    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset   $ 0
Gold zero cost collars | Accrued liabilities and other    
Derivatives, Fair Value [Line Items]    
Fair value of derivative liability   1,212
Gold zero cost collars | Other Assets    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset   0
Gold Forwards | Prepaid expenses and other    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset $ 12,343  
Gold Forwards | Accrued liabilities and other    
Derivatives, Fair Value [Line Items]    
Fair value of derivative liability   $ 0
Gold Forwards | Other Assets    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset $ 0  
v3.22.4
Derivative Financial Instruments - Summary of Derivative Cash Flow Hedges (Details) - Designated as Hedging Instrument
 12 Months Ended
Dec. 31, 2022
oz
$ / oz
Gold Forwards - 2022  
Derivative [Line Items]  
Average gold fixed price per ounce | $ / oz 1,957
Notional ounces | oz 130,500
Gold Forwards - 2023 and Thereafter  
Derivative [Line Items]  
Average gold fixed price per ounce | $ / oz 0
Notional ounces | oz 0
v3.22.4
Derivative Financial Instruments - Summary of Pre-tax Gains (Losses) On Derivatives Designated as Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: $ 37,445 $ 22,783 $ (12,434)
Gains (losses) reclassified from AOCI into net income - effective portion: (23,890) (12,859) 1,434
Gold zero cost collars      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: (4,598) 22,733 (32,345)
Gains (losses) reclassified from AOCI into net income - effective portion: 4,598 938 7,598
Foreign Exchange Forward      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: 0 50 19,911
Gains (losses) reclassified from AOCI into net income - effective portion: 0 (13,797) (6,164)
Gold Forwards      
Derivative Instruments and Hedging Activities Disclosures [Line Items]      
Gains (losses) recognized in OCI - effective portion: 42,043 0 0
Gains (losses) reclassified from AOCI into net income - effective portion: $ (28,488) $ 0 $ 0
v3.22.4
Additional Comprehensive Income (Loss) Detail - Summary of Pre-development, reclamation and other (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Other Income and Expenses [Abstract]      
Covid-19 Related Costs $ 1,739 $ 6,618 $ 15,555
Care and maintenance costs 20,963 24,928 16,384
Temporary Suspension Costs 0 0 7,164
Gain (Loss) on Termination of Lease 0 0 (4,051)
Accretion 14,232 11,988 11,754
Other Operating Income (Expense), Net 4,353 5,144 8,848
Pre-development, reclamation, and other $ 41,287 $ 48,678 $ 55,654
v3.22.4
Additional Comprehensive Income (Loss) Detail - Summary of Other Non-Operating (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Other Income and Expenses [Abstract]      
Foreign exchange gain (loss) $ (850) $ (2,779) $ (2,245)
Gain (loss) on sale of assets 64,429 4,111 (2,849)
VAT write-down 0 (25,982) 0
Other 66,971 (22,925) (5,941)
Interest Income, Other 1,741 1,725 1,652
Gold zero cost collars novation fee     (3,819)
Gain (loss) on sale of Manquiri consideration 0 0 365
RMC receivable write-down 1,651 0 0
Gain (loss) on Silvertip consideration $ 0 $ 0 $ 955
v3.22.4
Net Income (Loss) Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 11, 2022
Mar. 18, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Earnings Per Share (Textual) [Abstract]          
Number of antidilutive shares of common stock equivalents     952,664 634,419 389,629
Common stock issued for investment (in shares) 14,766,835 22,053,275      
Net Income (Loss) Attributable to Coeur Stockholders          
NET INCOME (LOSS)     $ (78,107) $ (31,322) $ 25,627
Weighted Average Number of Shares Outstanding          
Weighted Average Number of Shares Outstanding, Basic     275,178,000 250,044,000 240,803,000
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements     0 0 1,746,000
Weighted Average Number of Shares Outstanding, Diluted     275,178,000 250,044,000 242,549,000
Basic EPS          
Earnings Per Share, Basic     $ (0.28) $ (0.13) $ 0.11
Diluted EPS          
Earnings Per Share, Diluted     $ (0.28) $ (0.13) $ 0.11
v3.22.4
Net Income (Loss) Per Share - Summary of Common Stock Issuance (Details) - USD ($)
$ / shares in Units, $ in Millions
Dec. 11, 2022
Mar. 18, 2022
Dec. 31, 2022
Dec. 31, 2021
Subsidiary, Sale of Stock [Line Items]        
Aggregate net proceeds from stock offering $ 49.2 $ 98.0    
Common stock, par value (in dollars per share)     $ 0.01 $ 0.01
Price per share $ 3.39 $ 4.53    
Aggregate Value of ATM Program $ 50.0 $ 100.0    
v3.22.4
Supplemental Guarantor Information Condensed Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]    
Current assets $ 300,432 $ 289,577
Current liabilities 219,360 235,868
Non-current liabilities 737,767 698,292
Coeur Mining, Inc.    
Condensed Financial Statements, Captions [Line Items]    
Current assets 73,692 11,143
Non-current assets(1) [1] 445,778 473,145
Non-guarantor intercompany assets 4,391 19,803
Current liabilities 19,842 18,353
Non-current liabilities 42,028 139,223
Non-guarantor intercompany liabilities 58,257 30,045
Guarantor Subsidiaries    
Condensed Financial Statements, Captions [Line Items]    
Current assets 137,432 128,630
Non-current assets(1) [1] 991,213 830,330
Non-guarantor intercompany assets 0 0
Current liabilities 136,788 130,307
Non-current liabilities 603,800 461,904
Non-guarantor intercompany liabilities $ 150,550 $ 1,650
[1] Coeur Mining, Inc.’s non-current assets includes its investment in Guarantor Subsidiaries.
v3.22.4
Supplemental Guarantor Information Condensed Consolidated Statements of Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]      
Gain (Loss) on Extinguishment of Debt $ 0 $ (9,173) $ 0
Revenue 785,636 832,828 785,461
Net income (loss) (78,107) $ (31,322) $ 25,627
Coeur Mining, Inc.      
Condensed Financial Statements, Captions [Line Items]      
Revenue 0    
Gross Profit (833)    
Net income (loss) (78,107)    
Guarantor Subsidiaries      
Condensed Financial Statements, Captions [Line Items]      
Revenue 482,202    
Gross Profit (12,199)    
Net income (loss) $ 8,920    
v3.22.4
Commitments and Contigencies (Details Textual) - USD ($)
 12 Months Ended 24 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Dec. 31, 2019
Oct. 02, 2014
Business Acquisition [Line Items]                
Palmarejo Gold Stream Agreement, Deferred Revenue Unamortized Balance $ 7,400,000              
Deferred Revenue Recognized 15,887,000 $ 16,226,000 $ 16,702,000          
Capital expenditures incurred but not yet paid 33,688,000 40,904,000 30,682,000          
Surety Bonds Outstanding 326,800,000 315,100,000            
Valued-added Tax Outstanding 26,000,000              
Contract With Customer, Liability, Additional Prepayment 10,000,000              
POA 11 Expansion Project                
Business Acquisition [Line Items]                
Capital commitment since inception 605,000,000              
Capital expenditures incurred but not yet paid 494,000,000              
Minimum | Forecast | POA 11 Expansion Project                
Business Acquisition [Line Items]                
Capital expenditures incurred but not yet paid       $ 650,000,000        
Maximum | Forecast | POA 11 Expansion Project                
Business Acquisition [Line Items]                
Capital expenditures incurred but not yet paid       $ 670,000,000        
Palmarejo gold production royalty                
Business Acquisition [Line Items]                
Production to be sold, percent               50.00%
Price per ounce under agreement               $ 800
Aggregate deposit to be received               $ 22,000,000
Kensington                
Business Acquisition [Line Items]                
Deferred Revenue Recognized (26,020,000) (30,000,000) (30,183,000)          
Revenue liability 25,016,000 15,016,000 $ 15,003,000       $ 15,009,000  
Kensington | December 2020 Prepayment [Member]                
Business Acquisition [Line Items]                
Revenue liability   15,000,000     $ 15,000,000 $ 15,000,000    
Kensington | June 2021 Prepayment                
Business Acquisition [Line Items]                
Revenue liability $ 10,000,000              
Contract With Customer, Liability, Future Prepayments   $ 25,000,000            
v3.22.4
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]    
Other Accrued Liabilities $ 6,241 $ 5,592
Unrealized Gain (Loss) on Derivatives 10 1,374
Accrued Income Taxes, Current 7,874 13,856
Accrual for Taxes Other than Income Taxes, Current 3,318 3,284
Interest Payable, Current 8,256 8,038
Operating Lease, Liability, Current 11,560 11,301
Accrued Salaries, Current 29,868 28,408
Deferred Revenue [1] 25,736 16,093
Accrued liabilities and other $ 92,863 $ 87,946
[1] See Note 19 -- Commitments and Contingencies for additional details on deferred revenue liabilities
v3.22.4
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Details 1) - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Supplemental Cash Flow Information [Abstract]        
Cash and Cash Equivalents $ 61,464 $ 56,664    
Restricted Cash Equivalents 1,705 1,625    
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 63,169 $ 58,289 $ 94,170 $ 57,018
v3.22.4
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Details 2) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Supplemental Cash Flow Information [Abstract]      
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability $ 4,120 $ 1,197 $ 3,531
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability 43,810 37,860 5,283
Capital expenditures incurred but not yet paid 33,688 40,904 30,682
Non-cash acquisitions and related deferred taxes 0 0 5,295
Non-cash Permit contingent consideration 0 118,777 0
Interest Paid 32,704 19,655 20,634
Income Taxes Paid $ 41,600 $ 57,200 $ 35,600
v3.22.4
Disposals (Details)
 12 Months Ended
Oct. 27, 2021
USD ($)
royalty
$ / shares
$ / oz
shares
Dec. 31, 2022
USD ($)
Sep. 18, 2022
USD ($)
oz
Fair Value, Nonrecurring      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Royalties receivable fair value disclosure $ 11,200,000    
Disposal Group, Including Discontinued Operation, Number Of Royalties Disposed Of | royalty 2    
Discontinued Operations, Disposed of by Sale | La Preciosa [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Cash consideration $ 15,300,000    
Disposal Group, Including Discontinued Operation, Consideration, Note Receivable $ 5,000,000    
Disposal Group, Including Discontinued Operation, Equity Consideration | shares 14,000,000    
Disposal group, including discontinued operation, contingent consideration, payments per silver equivalent | $ / oz 0.25    
Disposal Group, Including Discontinued Operation, Contingent Consideration, Maximum $ 50,000,000    
Disposal Group, Including Discontinued Operation, Deferred Cash Consideration 8,800,000    
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax   $ 1,500,000  
Disposal Group, Including Discontinued Operation, Consideration, Not Receivable, Carrying Amount 4,700,000    
Disposal Group, Including Discontinued Operation, Deferred Cash Consideration, Carrying Value 7,400,000    
Disposal Group, Including Discontinued Operation, Contingent Consideration, Maximum, Carrying Value $ 1,200,000    
Disposal Group, Including Discontinued Operation, Number Of Royalties Disposed Of | royalty 2    
Cash and cash equivalents   234,000  
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net   1,211,000  
Disposal Group, Including Discontinued Operation, Prepaid and Other Assets   1,338,000  
Property, plant and equipment, net   1,626,000  
Mining properties, net   49,085,000  
Other   746,000  
TOTAL ASSETS   54,240,000  
Accounts payable   311,000  
Deferred tax liabilities   10,958,000  
TOTAL LIABILITIES   11,269,000  
Discontinued Operations, Disposed of by Sale | La Preciosa [Member] | Common Stock      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Equity Consideration | shares 13,700,000    
Disposal Group, Including Discontinued Operation, Equity Consideration, Shares | shares 1    
Discontinued Operations, Disposed of by Sale | La Preciosa [Member] | Common Share Purchase Warrant      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Disposal Group, Including Discontinued Operation, Equity Consideration | shares 2,200,000    
Disposal Group, Including Discontinued Operation, Equity Consideration, Shares | shares 0.5    
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares $ 1.09    
Discontinued Operations, Disposed of by Sale | AngloGold Ashanti      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax   $ 62,200,000  
Held-for-sale | AngloGold Ashanti      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Cash consideration     $ 150,200,000
Gold ounces threshold for contingent consideration | oz     3,500,000
Contingent consideration liability     $ 50,000,000
Ownership percentage     1
Gloria And Abundancia | Discontinued Operations, Disposed of by Sale | La Preciosa [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Discontinued operation, consideration, royalties on properties 1.25%    
Areas Other Than Gloria And Abundancia | Discontinued Operations, Disposed of by Sale | La Preciosa [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Discontinued operation, consideration, royalties on properties 2.00%