COEUR MINING, INC., 10-Q filed on 8/7/2024
Quarterly Report
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Document and Entity Information - shares
6 Months Ended
Jun. 30, 2024
Aug. 05, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2024  
Document Transition Report false  
Entity File Number 001-08641  
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 S. Wacker Dr.  
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 $.01 per share)  
Trading Symbol CDE  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   399,246,926
Entity Central Index Key 0000215466  
Amendment Flag false  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q2  
Current Fiscal Year End Date --12-31  
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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 74,136 $ 61,633
Receivables 32,087 31,035
Inventory 76,896 76,661
Ore on leach pads 116,897 79,400
Prepaid expenses and other 12,080 18,526
Current assets 312,096 267,255
NON-CURRENT ASSETS    
Property, plant and equipment and mining properties, net 1,695,951 1,688,288
Ore on leach pads, noncurrent 41,226 25,987
Restricted assets 9,026 9,115
Receivables, Net, Current 23,140 23,140
Other assets 61,610 67,063
TOTAL ASSETS 2,143,049 2,080,848
CURRENT LIABILITIES    
Accounts payable 107,323 115,110
Accrued liabilities and other 119,808 140,913
Debt 22,213 22,636
Reclamation 10,954 10,954
Current liabilities 260,298 289,613
NON-CURRENT LIABILITIES    
Debt 607,114 522,674
Reclamation 208,963 203,059
Deferred tax liabilities 7,571 12,360
Other long-term liabilities 27,295 29,239
Non-current liabilities $ 850,943 $ 767,332
Common Stock, Shares, Outstanding 399,240,520 386,282,957
STOCKHOLDERS' EQUITY    
Common stock, par value $0.01 per share; authorized 600,000,000 shares, 399,240,520 issued and outstanding at June 30, 2024 and 386,282,957 at December 31, 2023 $ 3,992 $ 3,863
Additional paid-in capital 4,176,668 4,139,870
Accumulated other comprehensive income (loss) 0 1,331
Accumulated deficit (3,148,852) (3,121,161)
Stockholders' equity 1,031,808 1,023,903
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 2,143,049 $ 2,080,848
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) 399,240,520 386,282,957
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Consolidated Balance Sheets (Parenthetical) - $ / shares
Jun. 30, 2024
Feb. 26, 2024
Dec. 31, 2023
Mar. 17, 2023
STOCKHOLDERS' EQUITY        
Common stock, par value $ 0.01 $ 0.01 $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 600,000,000   600,000,000  
Common stock, shares issued (in shares) 399,240,520 7,704,725 386,282,957  
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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue $ 222,026 $ 177,235 $ 435,086 $ 364,533
COSTS AND EXPENSES        
Amortization 27,928 19,595 55,225 42,303
General and administrative 11,241 9,789 25,645 21,872
Pre-development, reclamation, and other 8,590 10,360 26,818 21,250
Total costs and expenses 205,350 182,301 421,767 385,688
OTHER INCOME (EXPENSE), NET        
Fair value adjustments, net, pretax 0 (3,922) 0 6,639
Interest expense, net of capitalized interest (13,162) (6,912) (26,109) (14,301)
Other, net 5,122 (9,607) 7,895 (10,568) [1]
Total other income (expense), net (8,061) (17,480) (17,797) (15,269)
Income (loss) before income and mining taxes 8,615 (22,546) (4,478) (36,424)
Income and mining tax (expense) benefit (7,189) (9,866) (23,213) (20,574)
NET INCOME (LOSS) 1,426 (32,412) (27,691) (56,998)
OTHER COMPREHENSIVE INCOME (LOSS), Net of Tax:        
Unrealized gain (loss) on hedger, net of tax (10,881) 12,842 (18,507) (86)
Reclassification adjustments for realized (gain) loss on cash flow hedges (17,028) (1,224) (17,176) 2,910
Other comprehensive income (loss) 6,147 14,066 (1,331) (2,996)
COMPREHENSIVE INCOME (LOSS) $ 7,573 $ (18,346) $ (29,022) $ (59,994)
Basic EPS        
Earnings Per Share, Basic $ 0.00 $ (0.10) $ (0.07) $ (0.18)
Diluted EPS        
Earnings Per Share, Diluted $ 0.00 $ (0.10) $ (0.07) $ (0.18)
Gain on debt extinguishment $ (21) $ 2,961 $ 417 $ 2,961
Accumulated Deficit [Member]        
OTHER INCOME (EXPENSE), NET        
NET INCOME (LOSS) 1,426 (32,412) (27,691) (56,998)
Product        
COSTS AND EXPENSES        
Costs applicable to sales [2] 144,717 139,637 290,714 292,693
Mineral, Exploration        
COSTS AND EXPENSES        
Costs applicable to sales $ 12,874 $ 2,920 $ 23,365 $ 7,570
[1] See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.
[2] Excludes amortization.
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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income (loss) $ 1,426 $ (32,412) $ (27,691) $ (56,998)
Adjustments:        
Amortization 27,928 19,595 55,225 42,303
Accretion 4,154 4,073 8,230 8,066
Deferred income taxes (9,217) (1,043) (4,788) 5,408
Gain on debt extinguishment 21 (2,961) (417) (2,961)
Fair value adjustments, net 0 3,922 0 (6,639)
Stock-based compensation 2,732 2,676 6,980 5,827
Loss on the sale or disposition of assets 0 12,631 0 12,631
Inventory Write-down 0 1,627 3,235 14,740
Revenue Recognized (118) (15,100) (55,277) (25,215)
Foreign exchange and other 556 72 11,378 2,141
Changes in operating assets and liabilities:        
Receivables 3,180 (913) (2,136) 2,137
Prepaid expenses and other current assets 4,176 4,260 3,537 3,764
Inventories (19,774) (18,738) (39,468) (36,373)
Accounts payable and accrued liabilities 185 61,708 40,570 35,563
Cash provided by (used in) operating activities 15,249 39,397 (622) 4,394
CASH FLOWS FROM INVESTING ACTIVITIES:        
Capital expenditures (51,405) (85,581) (93,488) (159,629)
Proceeds from the sale of assets 0 8,228 24 8,228
Sale of investments 0 1,783 0 41,558
Proceeds from Collection of Notes Receivable 0 0 0 5,000
Other (148) (64) (215) (108)
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (51,553) (75,634) (93,679) (104,951)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from Issuance of Common Stock 0 13,013 22,823 111,442
Issuance of notes and bank borrowings, net of issuance costs 115,000 150,000 250,000 225,000
Payments on long-term debt, capital leases, and associated costs (71,653) (136,927) (163,878) (238,824)
Other (31) (225) (1,810) (2,322)
CASH PROVIDED (USED IN) BY FINANCING ACTIVITIES 43,316 25,861 107,135 95,296
Effect of exchange rate changes on cash and cash equivalents (361) 253 (321) 652
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 6,651 (10,123) 12,513 (4,609)
Cash, cash equivalents and restricted cash at beginning of period 69,240 68,683 63,378 63,169
Cash, cash equivalents and restricted cash at end of period $ 75,891 $ 58,560 $ 75,891 $ 58,560
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Consolidated Statements of Changes in Stockholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Private Placement
Common Stock
Common Stock
Private Placement
Additional Paid-In Capital
Additional Paid-In Capital
Private Placement
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
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]                
Net income (loss) (24,586)           (24,586)  
Other comprehensive income (loss) (17,062)             (17,062)
Common stock issued (in shares)     32,862          
Common stock issued 98,429   $ 329   98,100      
Common stock issued under stock-based compensation plans, net (in shares)     2,482          
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 739   $ 24   715      
Balances, in shares at Mar. 31, 2023     331,042          
Balances at Mar. 31, 2023 946,536   $ 3,310   3,990,080   (3,042,135) (4,719)
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]                
Net income (loss) (56,998)           (56,998)  
Other comprehensive income (loss) (2,996)              
Balances, in shares at Jun. 30, 2023     350,167          
Balances at Jun. 30, 2023 988,762   $ 3,502   4,050,460   (3,074,547) 9,347
Balances, in shares at Mar. 31, 2023     331,042          
Balances at Mar. 31, 2023 946,536   $ 3,310   3,990,080   (3,042,135) (4,719)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) (32,412)           (32,412)  
Other comprehensive income (loss) 14,066             14,066
Common stock issued (in shares)     5,276          
Common stock issued 12,656   $ 53   12,603      
Common stock issued for the extinguishment of Senior Notes (in shares)     13,941          
Common stock issued for the extinguishment of Senior Notes 45,468   $ 140   45,328      
Common stock issued under stock-based compensation plans, net (in shares)     (92)          
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 2,448   $ (1)   2,449      
Balances, in shares at Jun. 30, 2023     350,167          
Balances at Jun. 30, 2023 988,762   $ 3,502   4,050,460   (3,074,547) 9,347
Balances, in shares at Dec. 31, 2023     386,283          
Balances at Dec. 31, 2023 1,023,903   $ 3,863   4,139,870   (3,121,161) 1,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) (29,117)           (29,117)  
Other comprehensive income (loss) (7,478)             (7,478)
Common stock issued (in shares)       7,705        
Common stock issued   $ 22,985   $ 77   $ 22,908    
Common stock issued for the extinguishment of Senior Notes (in shares)     1,772          
Common stock issued for the extinguishment of Senior Notes 5,368   $ 18   5,350      
Common stock issued under stock-based compensation plans, net (in shares)     2,823          
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 2,468   $ 28   2,440      
Balances, in shares at Mar. 31, 2024     398,583          
Balances at Mar. 31, 2024 1,018,129   $ 3,986   4,170,568   (3,150,278) (6,147)
Balances, in shares at Dec. 31, 2023     386,283          
Balances at Dec. 31, 2023 1,023,903   $ 3,863   4,139,870   (3,121,161) 1,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) (27,691)           (27,691)  
Other comprehensive income (loss) (1,331)              
Balances, in shares at Jun. 30, 2024     399,241          
Balances at Jun. 30, 2024 1,031,808   $ 3,992   4,176,668   (3,148,852) 0
Balances, in shares at Mar. 31, 2024     398,583          
Balances at Mar. 31, 2024 1,018,129   $ 3,986   4,170,568   (3,150,278) (6,147)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 1,426           1,426  
Other comprehensive income (loss) 6,147             6,147
Common stock issued (in shares)       738        
Common stock issued   $ 3,406   $ 7   $ 3,399    
Common stock issued under stock-based compensation plans, net (in shares)     (80)          
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture 2,700   $ (1)   2,701      
Balances, in shares at Jun. 30, 2024     399,241          
Balances at Jun. 30, 2024 $ 1,031,808   $ 3,992   $ 4,176,668   $ (3,148,852) $ 0
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Basis of Presentation
6 Months Ended
Jun. 30, 2024
Basis of Presentation [Abstract]  
Basis of Accounting BASIS OF PRESENTATIONThe interim condensed consolidated financial statements of Coeur Mining, Inc. and its subsidiaries (collectively, “Coeur” or the “Company”) are unaudited. In the opinion of management, all adjustments and disclosures necessary for the fair presentation of these interim statements have been included. The results reported in these interim statements may not be indicative of the results which will be reported for the year ending December 31, 2024. The condensed consolidated December 31, 2023 balance sheet data was derived from audited consolidated financial statements. Accordingly, these unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 10-K”).
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Summary Of Significant Accounting Policies
6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Significant Accounting Policies
Please see Note 2 — Summary of Significant Accounting Policies contained in the 2023 10-K.
Use of Estimates
The Company's Condensed Consolidated Financial Statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”). The preparation of the Company’s Condensed 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 Condensed 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 on stockpiles and 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.
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 electrolytic cathodic sludge 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. In the first quarter of 2024, the Company completed a review of the estimated recoverable ounces of gold and silver on its leach pads and determined that as a result of longer expected leach time and favorable recoveries relative to previous estimates, that the estimated recoverable gold and silver on the Rochester legacy (Stages 2, 3 and 4) leach pads supported an upward revision. An additional 6,000 ounces of gold and 900,000 ounces of silver were added to the legacy leach pads in the first quarter of 2024. There are five reusable heap leach pads (load/offload) used at Wharf. Each pad goes through an approximate 24-month process of loading of ore, leaching and offloading which includes a neutralization and denitrification process. During the leaching cycle of each pad, revised estimated recoverable ounces for each of the pads may result in an upward or downward revision from time to time, which have not historically been significant. The updated recoverable ounce estimate is considered a change in estimate and was accounted for prospectively. As of June 30, 2024, the Company’s estimated recoverable ounces of gold and silver on the leach pads were 38,092 and 5.6 million, respectively.
Recently Issued Accounting Standards
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently evaluating the potential impact of adopting this new guidance on our Condensed Consolidated Financial Statements and related disclosures.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted. We are currently evaluating the potential impact of adopting this new guidance on our Condensed Consolidated Financial Statements and related disclosures.
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Segment Reporting
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company’s operating segments include the Palmarejo, Rochester, Kensington and Wharf mines and Silvertip exploration project. Except for the Silvertip exploration project, all operating segments are engaged in the discovery, mining, and production of gold and/or silver. The Silvertip exploration project is engaged in the discovery of silver, zinc, lead, and other related metals. “Other” includes certain mineral interests, strategic equity investments, corporate office, elimination of intersegment transactions, and other items necessary to reconcile to consolidated amounts.
Financial information relating to the Company’s segments is as follows (in thousands):
Three Months Ended June 30, 2024PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$42,411 $17,368 $51,104 $43,202 $— $— $154,085 
Silver sales40,835 25,396 (50)1,760 — — 67,941 
Metal sales83,246 42,764 51,054 44,962 — — 222,026 
Costs and Expenses
Costs applicable to sales(1)
48,227 36,655 40,721 19,114 — — 144,717 
Amortization10,843 8,570 6,445 1,067 790 213 27,928 
Exploration2,578 977 1,291 1,126 6,445 457 12,874 
Other operating expenses2,446 2,826 1,129 1,144 2,404 9,882 19,831 
Other income (expense)
Gain on debt extinguishment— — — — — (21)(21)
Fair value adjustments, net— — — — — — — 
Interest expense, net397 (1,055)(499)(125)(4)(11,876)(13,162)
Other, net(3)
2,881 (146)(82)(45)18 2,496 5,122 
Income and mining tax (expense) benefit(7,311)672 — (1,872)— 1,322 (7,189)
Net Income (loss) $15,119 $(6,793)$887 $20,469 $(9,625)$(18,631)$1,426 
Segment assets(2)
$302,034 $1,125,586 $196,671 $108,268 $213,833 $51,885 $1,998,277 
Capital expenditures$5,871 $27,530 $16,477 $1,156 $350 $21 $51,405 
(1) Excludes amortization.
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
(3) See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.
Three Months Ended June 30, 2023PalmarejoRochesterKensingtonWharfSilvertipOtherTotal
Revenue
Gold sales$35,296 $12,638 $24,538 $48,883 $— $— $121,355 
Silver sales37,432 16,463 63 1,922 — — 55,880 
Metal sales72,728 29,101 24,601 50,805 — — 177,235 
Costs and Expenses
Costs applicable to sales(1)
46,591 26,068 39,149 27,829 — — 139,637 
Amortization8,017 3,649 4,801 1,805 1,021 302 19,595 
Exploration1,614 279 2,327 — (1,628)328 2,920 
Other operating expenses2,233 2,400 960 1,029 4,961 8,566 20,149 
Other income (expense)
Gain on debt extinguishment— — — — — 2,961 2,961 
Fair value adjustments, net— — — — — (3,922)(3,922)
Interest expense, net178 (287)(325)(30)(18)(6,430)(6,912)
Other, net(3)
3,022 (47)(80)145 (110)(12,537)(9,607)
Income and mining tax (expense) benefit(6,220)137 — (2,301)— (1,482)(9,866)
Net Income (loss)$11,253 $(3,492)$(23,041)$17,956 $(4,482)$(30,606)$(32,412)
Segment assets(2)
$311,609 $977,958 $160,145 $103,249 $217,831 $61,920 $1,832,712 
Capital expenditures$11,914 $61,458 $11,656 $150 $138 $265 $85,581 
1) Excludes amortization.
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
(3) See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.
Six Months Ended June 30, 2024PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$96,313 $30,049 $94,589 $84,903 $— $— $305,854 
Silver sales83,311 42,544 (16)3,393 — — 129,232 
Metal sales179,624 72,593 94,573 88,296 — — 435,086 
Costs and Expenses
Costs applicable to sales(1)
102,521 63,654 80,010 44,529 — — 290,714 
Amortization23,445 15,203 12,041 2,460 1,642 434 55,225 
Exploration5,063 1,408 2,836 1,249 11,725 1,084 23,365 
Other operating expenses4,700 8,576 8,755 2,245 5,109 23,078 52,463 
Other income (expense)
Gain on debt extinguishment— — — — — 417 417 
Fair value adjustments, net— — — — — — — 
Interest expense, net371 (2,395)(970)(277)(10)(22,828)(26,109)
Other, net(3)
3,427 (116)(163)(87)(40)4,874 7,895 
Income and mining tax (expense) benefit(18,994)906 — (3,008)— (2,117)(23,213)
Net Income (loss) $28,699 $(17,853)$(10,202)$34,441 $(18,526)$(44,250)$(27,691)
Segment assets(2)
$302,034 $1,125,586 $196,671 $108,268 $213,833 $51,885 $1,998,277 
Capital expenditures$12,632 $48,773 $29,735 $1,464 $859 $25 $93,488 
(1) Excludes amortization.
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
(3) See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.

Six Months Ended June 30, 2023PalmarejoRochesterKensingtonWharfSilvertipOtherTotal
Revenue
Gold sales$75,903 $28,685 $64,662 $79,206 $— $— $248,456 
Silver sales79,132 34,316 137 2,492 — — 116,077 
Metal sales155,035 63,001 64,799 81,698 — — 364,533 
Costs and Expenses
Costs applicable to sales(1)
95,856 68,933 76,531 51,373 — — 292,693 
Amortization16,736 8,867 10,645 3,214 2,242 599 42,303 
Exploration2,927 662 3,323 — (131)789 7,570 
Other operating expenses3,759 4,425 1,944 2,043 11,507 19,444 43,122 
Other income (expense)
Gain on debt extinguishment— — — — — 2,961 2,961 
Fair value adjustments, net— — — — — 6,639 6,639 
Interest expense, net300 (462)(855)(44)(40)(13,200)(14,301)
Other, net(3)
2,884 (140)(151)(331)(119)(12,711)(10,568)
Income and mining tax (expense) benefit(15,922)376 — (2,720)— (2,308)(20,574)
Net Income (loss)$23,019 $(20,112)$(28,650)$21,973 $(13,777)$(39,451)$(56,998)
Segment assets(2)
$311,609 $977,958 $160,145 $103,249 $217,831 $61,920 $1,832,712 
Capital expenditures$22,064 $113,420 $22,358 $271 $807 $709 $159,629 
(1) Excludes amortization.
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
(3) See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.


Assets June 30, 2024December 31, 2023
Total assets for reportable segments$1,998,277 $1,943,037 
Cash and cash equivalents74,136 61,633 
Other assets70,636 76,178 
Total consolidated assets$2,143,049 $2,080,848 
Geographic Information
Long-Lived Assets June 30, 2024December 31, 2023
United States$1,218,875 $1,201,988 
Mexico248,549 256,906 
Canada228,373 229,242 
Other154 152 
Total$1,695,951 $1,688,288 
RevenueThree months ended June 30,Six months ended June 30,
2024202320242023
United States$138,780 $104,507 $255,462 $209,498 
Mexico83,246 72,728 179,624 155,035 
Total$222,026 $177,235 $435,086 $364,533 
v3.24.2.u1
Receivables
6 Months Ended
Jun. 30, 2024
Receivables [Abstract]  
RECEIVABLES RECEIVABLES
    Receivables consist of the following:
In thousandsJune 30, 2024December 31, 2023
Current receivables:
Trade receivables$7,404 $3,858 
VAT receivable14,899 15,634 
Income tax receivable9,388 10,207 
Gold and silver forwards realized gains (2)
— 615 
Other396 721 
$32,087 $31,035 
Non-current receivables:
Other tax receivable (3)
$9,111 $9,111 
Deferred cash consideration (1)
834 834 
Contingent consideration (1)
13,195 13,195 
$23,140 $23,140 
Total receivables$55,227 $54,175 
(1) See Note 11 -- Fair Value Measurements for additional details on deferred cash consideration and contingent consideration in the 2023 10-K.
(2) Represents realized gains on gold and silver forward hedges from December 2023 that contractually settled in subsequent months. See Note 12 -- Derivative Financial Instruments & Hedging for additional details on the gold and silver forward hedges.
(3) Consists of exploration credit refunds at Silvertip.
v3.24.2.u1
Inventory and Ore on Leach Pads
6 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
INVENTORY AND ORE ON LEACH PADS INVENTORY AND ORE ON LEACH PADS
    Inventory consists of the following:
In thousandsJune 30, 2024December 31, 2023
Inventory:
Concentrate$3,187 $3,606 
Precious metals19,413 20,395 
Supplies54,296 52,660 
$76,896 $76,661 
Ore on Leach Pads:
Current$116,897 $79,400 
Non-current41,226 25,987 
$158,123 $105,387 
Long-term Stockpile (included in Other)
$41,714 $46,702 
Total Inventory and Ore on Leach Pads$276,733 $228,750 
    
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 first quarter of 2024, the cost associated with the stock-pile at Rochester exceeded its net realizable value, which resulted in non-cash write down of $4.0 million ($3.2 million was recognized in Costs applicable to sales and $0.8 million in Amortization).
v3.24.2.u1
Property, Plant and Equipment
6 Months Ended
Jun. 30, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT PROPERTY, PLANT AND EQUIPMENT AND MINING PROPERTIES, NET
Property, plant and equipment and mining properties, net consist of the following:
In thousandsJune 30, 2024December 31, 2023
Mine development$1,394,378 $1,358,189 
Mineral interests809,912 809,912 
Land9,000 8,318 
Facilities and equipment(1)
1,444,949 947,435 
Construction in progress(2)
153,476 612,865 
Total$3,811,715 $3,736,719 
Accumulated depreciation, depletion and amortization(3)
(2,115,764)(2,048,431)
Property, plant and equipment and mining properties, net$1,695,951 $1,688,288 
(1) Includes $119.8 million and $127.6 million associated with facilities and equipment assets under finance leases at June 30, 2024 and December 31, 2023, respectively.
(2) Includes $3.5 million and $471.7 million of construction costs related to the Rochester expansion project at June 30, 2024 and December 31, 2023, respectively.
(3) Includes $47.0 million and $37.6 million of accumulated amortization related to assets under finance leases at June 30, 2024 and December 31, 2023, respectively.
Commissioning of Rochester’s new three-stage crushing circuit and truck load-out facility was completed on March 7, 2024, leading to declaration of commercial production and $528 million of construction in process placed into service in the first quarter of 2024. The Company successfully completed the ramp-up of all three stages of the crushing circuit at the end the second quarter by achieving daily throughput rates of over 88,000 tons per day.
v3.24.2.u1
Debt
6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Debt Disclosure DEBT
 June 30, 2024December 31, 2023
In thousandsCurrentNon-CurrentCurrentNon-Current
2029 Senior Notes, net(1)
$— $289,691 $— $295,115 
Revolving Credit Facility(2)
— 275,000 — 175,000 
Finance lease obligations22,213 42,423 22,636 52,559 
$22,213 $607,114 $22,636 $522,674 
(1) Net of unamortized debt issuance costs of $3.4 million and $3.9 million at June 30, 2024 and December 31, 2023, respectively.
(2) Unamortized debt issuance costs of $4.2 million and $2.8 million at June 30, 2024 and December 31, 2023, 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”). For more details, please see Note 9 -- Debt contained in the 2023 10-K.
In March 2024, the Company exchanged $5.9 million in aggregate principal amount of 2029 Senior Notes plus accrued interest for 1.8 million shares of its common stock. Based on the closing price of the Company’s common stock on the dates of the exchange, the exchanges resulted in a gain of $0.4 million on debt extinguishment. The exchange transaction represents a non-cash financing activity in the Condensed Consolidated Statement of Cash Flow.
Revolving Credit Facility
At June 30, 2024, the Company had $275.0 million drawn at a weighted-average interest rate of 9.2%, $29.5 million in outstanding letters of credit and $95.5 million available under its $400.0 million revolving credit facility (the “RCF”). Future borrowing may be subject to certain financial covenants. For more details, please see Note 9 -- Debt contained in the 2023 10-K.
On February 21, 2024, the Company entered into an agreement to extend and enhance its RCF (the “February 2024 Amendment”). The February 2024 Amendment, among other things, (1) extends the term of the RCF by approximately two years so that it now matures in February 2027, (2) increases the RCF by $10 million from $390 million to $400 million, (3) adds Fédération Des Caisses Desjardins Du Québec and National Bank of Canada as lenders on the RCF, (4) permits the Company to obtain one or more increases of the RCF in an aggregate amount of up to $100 million in incremental loans and commitments, subject to certain conditions, including obtaining commitments from relevant lenders to provide such increase, (5) allows for unencumbered domestic cash to be included in the calculation of the consolidated net leverage ratio, and (6) allows up to $15 million of non-capitalized underground mine development costs related to Silvertip to be excluded from the calculation of Consolidated EBITDA for purposes of the RCF.
Finance Lease Obligations
From time to time, the Company acquires mining equipment and facilities under finance lease agreements. In the six months ended June 30, 2024, the Company entered into a new lease financing arrangement for mining equipment at Kensington for $1.0 million. All finance lease obligations are recorded, upon lease inception, at the present value of future minimum lease payments. For more details, please see Note 8 -- Leases in the 2023 10-K.
Interest Expense
 Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
2029 Senior Notes$3,755 $4,507 $7,575 $9,312 
Revolving Credit Facility7,518 3,779 13,972 6,525 
Finance lease obligations997 908 2,256 1,753 
Amortization of debt issuance costs579 621 1,198 1,261 
Other debt obligations757 278 1,554 740 
Capitalized interest(444)(3,181)(446)(5,290)
Total interest expense, net of capitalized interest$13,162 $6,912 $26,109 $14,301 
v3.24.2.u1
Reclamation
6 Months Ended
Jun. 30, 2024
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.
Changes to the Company’s asset retirement obligations for its operating sites are as follows:
Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Asset retirement obligation - Beginning$216,989 $205,380 $214,013 $202,431 
Accretion4,154 4,073 8,230 8,066 
Settlements(1,226)(1,493)(2,326)(2,537)
Asset retirement obligation - Ending$219,917 $207,960 $219,917 $207,960 
v3.24.2.u1
Income and Mining Taxes
6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
INCOME AND MINING TAXES INCOME AND MINING TAXES
    The following table summarizes the components of Income and mining tax (expense) benefit for the three and six months ended June 30, 2024 and 2023 by significant jurisdiction:
Three months ended June 30,Six months ended June 30,
 2024202320242023
In thousandsIncome (loss) before taxTax (expense) benefitIncome (loss) before taxTax (expense) benefitIncome (loss) before taxTax (expense) benefitIncome (loss) before taxTax (expense) benefit
United States$(4,660)$1,677 $(35,540)$(2,264)$(33,890)$(2,142)$(61,320)$(3,282)
Canada(9,628)(258)(4,410)— (18,535)(372)(13,704)— 
Mexico22,948 (8,608)17,534 (7,602)48,152 (20,699)38,933 (17,292)
Other jurisdictions(45)— (130)— (205)— (333)— 
$8,615 $(7,189)$(22,546)$(9,866)$(4,478)$(23,213)$(36,424)$(20,574)
    During the second quarter of 2024, the Company reported estimated income and mining tax expense of approximately $7.2 million, resulting in an effective tax rate of 83.4%. This compares to income tax expense of $9.9 million for an effective tax rate of (43.8)% during the second quarter of 2023. The comparability of the Company’s income and mining tax (expense) benefit and effective tax rate for the reported periods was impacted by multiple factors, primarily: (i) mining taxes; (ii) variations in the Company’s income before income taxes; (iii) geographic distribution of that income; (iv) percentage depletion; (v) foreign exchange rate; (vi) the prior year sale of non-core assets; and (vii) the impact of uncertain tax positions. Therefore, the effective tax rate will fluctuate, sometimes significantly, period to period.
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 ultimately will 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. For additional information, please see the section titled “Item 1A - Risk Factors”.
The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. The statute of limitations remains open from 2020 forward for the U.S. federal jurisdiction and from 2017 forward for certain other foreign jurisdictions. Regarding the statutes of limitation that will begin to expire within the next 12 months in various jurisdictions and possible settlements of audit-related issues with taxing authorities in various jurisdictions with respect to which none of the issues are individually significant, the Company believes that there will be no further decrease in any unrecognized income tax benefits.
    At June 30, 2024 and December 31, 2023, the unrecognized tax benefits and accrued income-tax-related interest and penalties were not significant. The Company’s continuing practice is to recognize potential interest and/or penalties related to unrecognized tax benefits as part of its income tax expense.
v3.24.2.u1
Stock-Based Compensation
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
    The Company has stock incentive plans for executives, directors and eligible employees. Stock awards include performance shares, restricted stock and stock options. Stock-based compensation expense in the three and six months ended June 30, 2024 was $2.7 million and $6.9 million, respectively, compared to $2.7 million and $5.8 million in the three and six months ended June 30, 2023. At June 30, 2024, there was $13.0 million of unrecognized stock-based compensation cost which is expected to be recognized over a weighted-average remaining vesting period of 1.8 years.
    The following table summarizes the grants awarded during the six months ended June 30, 2024:
Grant dateRestricted
stock
Grant date fair
value of
restricted stock
Performance
shares
Grant date fair
value of
performance
shares
February 26, 20243,087,822 $2.55 2,050,899 $2.77 
v3.24.2.u1
Fair Value Measurements
6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
 Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Change in the value of equity securities(1)
$— $(3,922)$— $6,639 
Fair value adjustments, net$— $(3,922)$— $6,639 
(1) Includes unrealized losses on held equity securities of $3.7 million and $0.5 million for the three and six months ended June 30, 2023, 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 June 30, 2024
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Provisional metal sales contracts$41 $— $41 $— 
Liabilities:
Provisional metal sales contracts$231 $— $231 $— 
 
 Fair Value at December 31, 2023
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Provisional metal sales contracts318 — 318 — 
Silver forwards3,312 — 3,312 — 
$3,630 $— $3,630 $— 
Liabilities:
Gold forwards$1,981 $— $1,981 $— 
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 and silver forward contracts are valued using pricing models with inputs derived from observable market data, including forward market prices, yield curves, and credit spreads.
No assets or liabilities were transferred between fair value levels in the six months ended June 30, 2024.
The fair value of financial assets and liabilities carried at book value in the financial statements at June 30, 2024 and December 31, 2023 is presented in the following table:
 June 30, 2024
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Liabilities:
2029 Senior Notes(1)
$289,691 $271,720 $— $271,720 $— 
Revolving Credit Facility(2)
$275,000 $275,000 $— $275,000 $— 
(1) Net of unamortized debt issuance costs of $3.4 million.
(2) Unamortized debt issuance costs of $4.2 million included in Other Non-Current Assets.
 December 31, 2023
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Liabilities:
2029 Senior Notes(1)
$295,115 $271,272 $— $271,272 $— 
Revolving Credit Facility(2)
$175,000 $175,000 $— $175,000 $— 
(1) Net of unamortized debt issuance costs of $3.9 million.
(2) Unamortized debt issuance costs of $2.8 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.
v3.24.2.u1
Derivative Financial Instruments
6 Months Ended
Jun. 30, 2024
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 Designated as Cash Flow Hedging Strategies
To protect the Company’s exposure to fluctuations in metal prices, particularly during times of elevated capital expenditures, the Company has entered into forward contracts. The contracts were net settled monthly, and if the actual price of gold or silver at the time of expiration is lower than the fixed price or higher than the fixed price, it resulted in a realized gain or loss, respectively. The Company elected to designate these instruments as cash flow hedges of forecasted transactions at their inception. At June 30, 2024, the Company had no outstanding derivative cash flow hedge instruments.
The effective portions of cash flow hedges were recorded in Accumulated other comprehensive income (loss) (“AOCI”) until the hedged item was recognized in earnings. Deferred gains and losses associated with cash flow hedges of metal sales revenue were 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 were no such changes in critical terms or adverse developments.
The following summarizes the classification of the fair value of the derivative instruments designated as cash flow hedges:
 June 30, 2024
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$— $— $— 
Silver forwards$— $— $— 
 December 31, 2023
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$— $— $1,981 
Silver forwards$3,312 $— $— 
The following table sets forth the after-tax gains (losses) on derivatives designated as cash flow hedges that have been included in AOCI and the Condensed Consolidated Statement of Comprehensive Income (Loss) for the three and six months ended June 30, 2024 and 2023, respectively (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
 Amount of Gain (Loss) Recognized in AOCI
Gold forwards$(3,893)$7,303 $(10,886)$(8,053)
Silver forwards(6,988)5,539 (7,621)7,967 
$(10,881)$12,842 $(18,507)$(86)
Amount of (Gain) Loss Reclassified from AOCI to Earnings
Gold forwards$11,887 $1,369 $12,867 $(892)
Silver forwards5,141 (145)4,309 (2,018)
$17,028 $1,224 $17,176 $(2,910)
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.
At June 30, 2024, the Company had the following derivative instruments that settle as follows:
In thousands except average prices and notional ounces20242025 and Thereafter
Provisional gold sales contracts$28,891 $— 
Average gold price per ounce$2,346 $— 
Notional ounces12,313 — 
The following summarizes the classification of the fair value of the derivative instruments:
 June 30, 2024
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$41 $231 
 December 31, 2023
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$318 $— 
The following represent mark-to-market gains (losses) on derivative instruments in the three and six months ended June 30, 2024 and 2023, respectively (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
Financial statement lineDerivative2024202320242023
RevenueProvisional metal sales contracts$(998)$(71)$(508)$(319)
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.
v3.24.2.u1
Additional Comprehensive Income (Loss) Detail
6 Months Ended
Jun. 30, 2024
Other Income and Expenses [Abstract]  
Additional Comprehensive Income (Loss) Detail ADDITIONAL COMPREHENSIVE INCOME (LOSS) DETAIL
Pre-development, reclamation, and other consists of the following:
 Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Silvertip ongoing carrying costs$2,055 $4,609 $4,416 $10,789 
(Gain) loss on sale of assets640 312 4,176 312 
Asset retirement accretion4,154 4,073 8,230 8,066 
Kensington royalty settlement(1)
— — 6,750 — 
Other1,741 1,366 3,246 2,083 
Pre-development, reclamation and other$8,590 $10,360 $26,818 $21,250 
(1) See Note 16 -- Commitments and Contingencies for additional details on the Kensington royalty settlement.

Other, net consists of the following:
 Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Foreign exchange gain (loss)$2,089 $627 $1,724 $(527)
Gain (loss) on dispositions— (12,319)— (12,319)
Flow-through shares1,455 — 3,945 — 
RMC bankruptcy distribution1,199 1,516 1,199 1,516 
Other379 569 1,027 762 
Other, net$5,122 $(9,607)$7,895 $(10,568)
v3.24.2.u1
Net Income (Loss) Per Share
6 Months Ended
Jun. 30, 2024
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 shares 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 three and six months ended June 30, 2024, there were 29,130 and 4.6 million 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. Similarly, 2.0 million and 1.7 million common stock equivalents were excluded in the diluted earnings per share calculation for the three and six months ended June 30, 2023, respectively.
Three months ended June 30,Six months ended June 30,
In thousands except per share amounts2024202320242023
Net income (loss) available to common stockholders$1,426 $(32,412)$(27,691)$(56,998)
Weighted average shares:
Basic393,838 333,082 389,403 317,105 
Effect of stock-based compensation plans6,071 — — — 
Diluted399,909 333,082 389,403 317,105 
Income (loss) per share:
Basic$0.00 $(0.10)$(0.07)$(0.18)
Diluted$0.00 $(0.10)$(0.07)$(0.18)
On February 26, 2024, the Company entered into subscription agreements (the “Subscription Agreements”) with certain Canadian accredited investors (the “Investors”) for a private placement offering (the “Private Placement Offering”) of an aggregate of 7,704,725 shares of common stock, par value $0.01 per share, to be issued as “flow-through shares,” as defined in subsection 66(15) of the Income Tax Act (Canada) (the “FT Shares”), which closed on March 8, 2024. The proceeds of the Private Placement Offering will be used for certain qualifying “Canadian Exploration Expenditures” (as such term is defined in the Income Tax Act (Canada)) at the Company’s Silvertip exploration project. The initial Private Placement Offering raised net proceeds of $23.7 million, of which $0.9 million represents net proceeds received in excess of the Company’s trading price (“FT Premium Liability”). During the six months ended June 30, 2024, the Company recognized a portion of the FT Premium Liability associated with the prior year private placement offering of flow-through shares resulting in income of $3.9 million included in Other, net. The FT Premium Liability is included in Accrued liabilities and other on the Condensed Consolidated Balance Sheet and will decrease in subsequent periods as certain qualifying “Canadian Exploration Expenditures” are incurred.
The FT Shares were not registered under the Securities Act and were offered and sold outside the United States to accredited investors in reliance on Regulation S and/or Regulation D of the Securities Act.
On March 17, 2023, the Company completed a $100.0 million “at the market” offering of its common stock, par value $0.01 per share (the “March 2023 Equity Offering”). The March 2023 Equity Offering was conducted pursuant to an ATM Equity Offering Sales Agreement, entered into on February 23, 2023 between the Company and BMO Capital Markets Corp. and RBC Capital Markets, LLC as sales agents. The Company sold a total of 32,861,580 shares of its common stock in the March 2023 Equity Offering at an average price of $3.04 per share, raising net proceeds (after sales commissions) of $98.4 million. Proceeds from the March 2023 Equity Offering were used to reduce outstanding amounts under the RCF and for general corporate purposes.
v3.24.2.u1
Supplemental Guarantor Information
6 Months Ended
Jun. 30, 2024
Condensed Financial Information Disclosure [Abstract]  
SUPPLEMENTAL GUARANTOR INFORMATION SUPPLEMENTAL GUARANTOR INFORMATION
The 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.Subsidiary Guarantors
In thousandsJune 30, 2024December 31, 2023June 30, 2024December 31, 2023
Current assets$12,209 $19,850 $186,956 $143,170 
Non-current assets(1)
$400,622 $393,773 $1,312,057 $1,286,135 
Non-guarantor intercompany assets$— $— $— $— 
Current liabilities$28,760 $27,836 $165,398 $198,262 
Non-current liabilities$574,600 $478,488 $194,656 $203,405 
Non-guarantor intercompany liabilities$3,186 $6,033 $1,596 $1,591 
(1) Coeur Mining, Inc.’s non-current assets includes its investment in Guarantor Subsidiaries.



SUMMARIZED STATEMENTS OF INCOME
SIX MONTHS ENDED JUNE 30, 2024
In thousandsCoeur Mining, Inc.Subsidiary Guarantors
Revenue$— $255,462 
Gross profit (loss)$(433)$37,564 
Net income (loss)$(27,691)$6,361 
v3.24.2.u1
Commitments and Contingencies
6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Mexico Litigation Matters
As of June 30, 2024, $28.7 million in principal is due from the Mexican government associated with amounts that were paid as VAT 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 refunds in the normal course of these amounts paid as VAT associated with the royalty payments; however, in 2011 the Mexican tax authorities began denying refunds of these amounts based on the argument that VAT was not legally due on the royalty payments. Accordingly, Coeur Mexicana began to request refunds of these amounts paid as VAT as undue payments, which the Mexican tax authorities also denied. The Company has since been engaged in ongoing efforts to recover these amounts from the Mexican government (including through refiling refund requests as undue payments rather than refunds of VAT that were due, litigation and international arbitration). Despite a favorable ruling from Mexican tax courts in this matter in 2018, litigation of the matter continued at the Mexican administrative, appeals court and supreme court levels for several years, most of which was 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 receivable and intends to rigorously continue its recovery efforts, based on the continued failure to recover the receivable and unfavorable Mexican court decisions, the Company determined to write down the carrying value of the receivable at September 30, 2021. Coeur has elected to initiate an arbitration proceeding under Chapter 11 of the North American Free Trade Agreement, or NAFTA, to pursue recovery of the unduly paid VAT plus interest and other damages. 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 currently sells 50% of Palmarejo gold production (excluding production from certain properties acquired in 2015 and 2024) to a subsidiary of Franco-Nevada Corporation (“Franco-Nevada”) under a gold stream agreement for the lesser of $800 or spot price per ounce (“Franco-Nevada Gold Stream Agreement”). The Franco-Nevada Gold Stream Agreement supersedes an earlier arrangement made in January 2009 in which Franco-Nevada purchased a royalty covering 50% of the life of mine gold to be produced by Coeur Mexicana from its Palmarejo silver and gold mine in Mexico in exchange for total consideration of $78.0 million, consisting of $75.0 million in cash plus a warrant to acquire Franco-Nevada Common Shares that was then-valued at $3.0 million (the “Prior Gold Stream Agreement”). The Prior Gold Stream Agreement was terminated in 2014 and its minimum ounce delivery requirement satisfied in 2016, after which sales under the Franco-Nevada Gold Stream Agreement commenced. Under the Franco-Nevada Gold Stream Agreement, 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. Because there is no minimum obligation associated with the deposit, it is not considered a financing, and each shipment is considered to be a separate performance obligation. The stream 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 Condensed Consolidated Balance Sheet.
The following table presents a roll forward of the Franco-Nevada contract liability balance:
Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Opening Balance$6,784 $7,296 $6,943 $7,411 
Revenue Recognized(118)(100)(277)(215)
Closing Balance$6,666 $7,196 $6,666 $7,196 
Metal Sales Prepayments
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. In March 2024, the Company received an additional prepayment of $25.0 million, of which $12.0 million was recognized as revenue in the second quarter of 2024.
Additionally, in June 2023, the Company entered into sales and purchase contracts with a metal sales counterparty for gold electrolytic cathodic sludge from its Wharf mine and gold and silver doré from its Rochester mine, both of which were amended in September 2023 to increase the maximum amount available in prepayments to $12.5 million and $17.5 million, respectively. In June 2024, Wharf and Rochester received additional prepayments of $12.5 million and $17.5 million, respectively, following the fulfillment of the previous received prepayments received at Wharf and Rochester.
The metal sales prepayments represent a contract liability under ASC 606, which requires the Company to recognize ratably a portion of the deposit as revenue for each gold and silver ounce delivered to the customer. The remaining contract liability is included in Accrued liabilities and other on the Condensed Consolidated Balance Sheet. Under the relevant terms of the Amended Sales Contract, Coeur maintains its exposure to the price of gold and silver and expects to recognize the remaining value of the accrued liability by September 2024. See Note 2 -- Summary of Significant Accounting Policies contained in the 2023 10-K for additional detail.
The following table presents a roll forward of the prepayment contract liability balance:
Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Opening Balance$55,112 $15,127 $55,082 $25,016 
Additions30,175 44,885 85,205 44,996 
Revenue Recognized(42,005)(15,000)(97,005)(25,000)
Closing Balance$43,282 $45,012 $43,282 $45,012 
Kensington Royalty Matter
On March 28, 2024, the Company and its subsidiary Coeur Alaska, Inc. (“Coeur Alaska”) entered into a settlement agreement to resolve litigation with Maverix Metals Inc. and Maverix Metals (Nevada) Inc. (collectively “Maverix”) regarding the terms of a royalty impacting a portion of the Kensington mine property (the “Maverix Litigation”). While Coeur Alaska continued to believe its claims and counterclaims in the matter were valid, it determined that the settlement was appropriate given the inherent uncertainty presented in litigation matters. In consideration for the dismissal of the Maverix Litigation and pursuant to other customary terms of settlement, Coeur Alaska and Maverix agreed to amend the terms of the royalty to decrease the effective rate of the royalty and to eliminate the concept of cost recoupment provided for in the original royalty. The amended royalty now provides that Coeur Alaska pays a net returns royalty on up to two million troy ounces of gold produced from the current boundaries of the Kensington mine at a rate of: (i) 1.25% for production occurring from January 1, 2024 through December 31, 2026 and (ii) 1.5% for production occurring on or after January 1, 2027. The Company also agreed to issue up to 2,455,000 shares of its common stock to an affiliate of Maverix, including common stock having a then-current fair market value of $3.0 million by April 2, 2024, and common stock having a then-current fair market value of $3.75 million
by March 28, 2025 (collectively, the “Settlement Shares”), with a cash-settlement of any shortfall in value if all 2,455,000 shares of common stock are issued. The settlement provides that credit for the value of certain portions of equity issued to be credited against the royalty, as amended, as payment in arrears for production prior to January 1, 2024. In April 2024, the Company issued 737,210 shares to settle the first equity issuance. The issuance of the Settlement Shares is being made pursuant to the exemption from the registration requirements afforded by Section 4(a)(2) of the Securities Act of 1933, as amended.
Mining Concession
On November 20, 2023, Coeur Mexicana signed a purchase agreement with a subsidiary of Fresnillo plc to acquire mining concessions adjacent to the Palmarejo mine. Total consideration includes a cash payment of approximately $25 million, with $10 million due at closing, an additional $10 million payable 12 months after closing, and an additional $5 million payable 24 months after closing. The concessions will be subject to an inflation-adjusted royalty payment of $25 per ounce for each new gold-equivalent ounce of resource discovered between 450,000 and two million gold equivalent ounces. On July 8, 2024, the Company closed on the purchase after receiving an applicable regulatory approval in Mexico and provided payment of the $10 million due at closing.
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 and silver hedges and other general corporate purposes. As of June 30, 2024 and December 31, 2023, the Company had surety bonds totaling $343.6 million and $324.8 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.
v3.24.2.u1
Additional Balance Sheet Detail and Supplemental Cash Flow Information
6 Months Ended
Jun. 30, 2024
Supplemental Cash Flow Information [Abstract]  
Cash Flow, Supplemental Disclosures [Text Block] ADDITIONAL BALANCE SHEET DETAIL AND SUPPLEMENTAL CASH FLOW INFORMATION
Accrued liabilities and other consist of the following:
In thousandsJune 30, 2024December 31, 2023
Accrued salaries and wages$23,294 $31,722 
Flow-through share premium received2,467 5,563 
Deferred revenue (1)
43,784 55,547 
Income and mining taxes14,731 11,766 
Kensington royalty settlement (1)
3,750 — 
Accrued operating costs12,238 11,081 
Unrealized losses on derivatives231 1,981 
Taxes other than income and mining2,974 5,321 
Accrued interest payable9,596 7,957 
Operating lease liabilities6,743 9,975 
Accrued liabilities and other$119,808 $140,913 
(1) See Note 16 -- 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 Condensed Consolidated Balance Sheets that total the same such amounts shown in the Condensed Consolidated Statements of Cash Flows in the three and six months ended June 30, 2024 and 2023:
In thousandsJune 30, 2024June 30, 2023
Cash and cash equivalents$74,136 $56,845 
Restricted cash equivalents1,755 1,715 
Total cash, cash equivalents and restricted cash shown in the statement of cash flows$75,891 $58,560 
v3.24.2.u1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Pay vs Performance Disclosure            
Net income (loss) $ 1,426 $ (29,117) $ (32,412) $ (24,586) $ (27,691) $ (56,998)
v3.24.2.u1
Insider Trading Arrangements
3 Months Ended
Jun. 30, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.2.u1
Summary of Significant Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2024
Accounting Policies [Abstract]  
Risks and Uncertainties [Policy Text Block]
Please see Note 2 — Summary of Significant Accounting Policies contained in the 2023 10-K.
Use of Estimates, Policy [Policy Text Block]
Use of Estimates
The Company's Condensed Consolidated Financial Statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”). The preparation of the Company’s Condensed 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 Condensed 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 on stockpiles and 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.
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 electrolytic cathodic sludge 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. In the first quarter of 2024, the Company completed a review of the estimated recoverable ounces of gold and silver on its leach pads and determined that as a result of longer expected leach time and favorable recoveries relative to previous estimates, that the estimated recoverable gold and silver on the Rochester legacy (Stages 2, 3 and 4) leach pads supported an upward revision. An additional 6,000 ounces of gold and 900,000 ounces of silver were added to the legacy leach pads in the first quarter of 2024. There are five reusable heap leach pads (load/offload) used at Wharf. Each pad goes through an approximate 24-month process of loading of ore, leaching and offloading which includes a neutralization and denitrification process. During the leaching cycle of each pad, revised estimated recoverable ounces for each of the pads may result in an upward or downward revision from time to time, which have not historically been significant. The updated recoverable ounce estimate is considered a change in estimate and was accounted for prospectively. As of June 30, 2024, the Company’s estimated recoverable ounces of gold and silver on the leach pads were 38,092 and 5.6 million, respectively.
Recent Accounting Standards
Recently Issued Accounting Standards
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently evaluating the potential impact of adopting this new guidance on our Condensed Consolidated Financial Statements and related disclosures.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted. We are currently evaluating the potential impact of adopting this new guidance on our Condensed Consolidated Financial Statements and related disclosures.
v3.24.2.u1
Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Financial information relating to the reporting segments
Financial information relating to the Company’s segments is as follows (in thousands):
Three Months Ended June 30, 2024PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$42,411 $17,368 $51,104 $43,202 $— $— $154,085 
Silver sales40,835 25,396 (50)1,760 — — 67,941 
Metal sales83,246 42,764 51,054 44,962 — — 222,026 
Costs and Expenses
Costs applicable to sales(1)
48,227 36,655 40,721 19,114 — — 144,717 
Amortization10,843 8,570 6,445 1,067 790 213 27,928 
Exploration2,578 977 1,291 1,126 6,445 457 12,874 
Other operating expenses2,446 2,826 1,129 1,144 2,404 9,882 19,831 
Other income (expense)
Gain on debt extinguishment— — — — — (21)(21)
Fair value adjustments, net— — — — — — — 
Interest expense, net397 (1,055)(499)(125)(4)(11,876)(13,162)
Other, net(3)
2,881 (146)(82)(45)18 2,496 5,122 
Income and mining tax (expense) benefit(7,311)672 — (1,872)— 1,322 (7,189)
Net Income (loss) $15,119 $(6,793)$887 $20,469 $(9,625)$(18,631)$1,426 
Segment assets(2)
$302,034 $1,125,586 $196,671 $108,268 $213,833 $51,885 $1,998,277 
Capital expenditures$5,871 $27,530 $16,477 $1,156 $350 $21 $51,405 
(1) Excludes amortization.
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
(3) See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.
Three Months Ended June 30, 2023PalmarejoRochesterKensingtonWharfSilvertipOtherTotal
Revenue
Gold sales$35,296 $12,638 $24,538 $48,883 $— $— $121,355 
Silver sales37,432 16,463 63 1,922 — — 55,880 
Metal sales72,728 29,101 24,601 50,805 — — 177,235 
Costs and Expenses
Costs applicable to sales(1)
46,591 26,068 39,149 27,829 — — 139,637 
Amortization8,017 3,649 4,801 1,805 1,021 302 19,595 
Exploration1,614 279 2,327 — (1,628)328 2,920 
Other operating expenses2,233 2,400 960 1,029 4,961 8,566 20,149 
Other income (expense)
Gain on debt extinguishment— — — — — 2,961 2,961 
Fair value adjustments, net— — — — — (3,922)(3,922)
Interest expense, net178 (287)(325)(30)(18)(6,430)(6,912)
Other, net(3)
3,022 (47)(80)145 (110)(12,537)(9,607)
Income and mining tax (expense) benefit(6,220)137 — (2,301)— (1,482)(9,866)
Net Income (loss)$11,253 $(3,492)$(23,041)$17,956 $(4,482)$(30,606)$(32,412)
Segment assets(2)
$311,609 $977,958 $160,145 $103,249 $217,831 $61,920 $1,832,712 
Capital expenditures$11,914 $61,458 $11,656 $150 $138 $265 $85,581 
1) Excludes amortization.
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
(3) See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.
Six Months Ended June 30, 2024PalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$96,313 $30,049 $94,589 $84,903 $— $— $305,854 
Silver sales83,311 42,544 (16)3,393 — — 129,232 
Metal sales179,624 72,593 94,573 88,296 — — 435,086 
Costs and Expenses
Costs applicable to sales(1)
102,521 63,654 80,010 44,529 — — 290,714 
Amortization23,445 15,203 12,041 2,460 1,642 434 55,225 
Exploration5,063 1,408 2,836 1,249 11,725 1,084 23,365 
Other operating expenses4,700 8,576 8,755 2,245 5,109 23,078 52,463 
Other income (expense)
Gain on debt extinguishment— — — — — 417 417 
Fair value adjustments, net— — — — — — — 
Interest expense, net371 (2,395)(970)(277)(10)(22,828)(26,109)
Other, net(3)
3,427 (116)(163)(87)(40)4,874 7,895 
Income and mining tax (expense) benefit(18,994)906 — (3,008)— (2,117)(23,213)
Net Income (loss) $28,699 $(17,853)$(10,202)$34,441 $(18,526)$(44,250)$(27,691)
Segment assets(2)
$302,034 $1,125,586 $196,671 $108,268 $213,833 $51,885 $1,998,277 
Capital expenditures$12,632 $48,773 $29,735 $1,464 $859 $25 $93,488 
(1) Excludes amortization.
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
(3) See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.

Six Months Ended June 30, 2023PalmarejoRochesterKensingtonWharfSilvertipOtherTotal
Revenue
Gold sales$75,903 $28,685 $64,662 $79,206 $— $— $248,456 
Silver sales79,132 34,316 137 2,492 — — 116,077 
Metal sales155,035 63,001 64,799 81,698 — — 364,533 
Costs and Expenses
Costs applicable to sales(1)
95,856 68,933 76,531 51,373 — — 292,693 
Amortization16,736 8,867 10,645 3,214 2,242 599 42,303 
Exploration2,927 662 3,323 — (131)789 7,570 
Other operating expenses3,759 4,425 1,944 2,043 11,507 19,444 43,122 
Other income (expense)
Gain on debt extinguishment— — — — — 2,961 2,961 
Fair value adjustments, net— — — — — 6,639 6,639 
Interest expense, net300 (462)(855)(44)(40)(13,200)(14,301)
Other, net(3)
2,884 (140)(151)(331)(119)(12,711)(10,568)
Income and mining tax (expense) benefit(15,922)376 — (2,720)— (2,308)(20,574)
Net Income (loss)$23,019 $(20,112)$(28,650)$21,973 $(13,777)$(39,451)$(56,998)
Segment assets(2)
$311,609 $977,958 $160,145 $103,249 $217,831 $61,920 $1,832,712 
Capital expenditures$22,064 $113,420 $22,358 $271 $807 $709 $159,629 
(1) Excludes amortization.
(2) Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
(3) See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.
Consolidated Assets
Assets June 30, 2024December 31, 2023
Total assets for reportable segments$1,998,277 $1,943,037 
Cash and cash equivalents74,136 61,633 
Other assets70,636 76,178 
Total consolidated assets$2,143,049 $2,080,848 
Long Lived Assets by Country
Geographic Information
Long-Lived Assets June 30, 2024December 31, 2023
United States$1,218,875 $1,201,988 
Mexico248,549 256,906 
Canada228,373 229,242 
Other154 152 
Total$1,695,951 $1,688,288 
Revenue by Country
RevenueThree months ended June 30,Six months ended June 30,
2024202320242023
United States$138,780 $104,507 $255,462 $209,498 
Mexico83,246 72,728 179,624 155,035 
Total$222,026 $177,235 $435,086 $364,533 
v3.24.2.u1
Receivables (Tables)
6 Months Ended
Jun. 30, 2024
Receivables [Abstract]  
Receivables Receivables consist of the following:
In thousandsJune 30, 2024December 31, 2023
Current receivables:
Trade receivables$7,404 $3,858 
VAT receivable14,899 15,634 
Income tax receivable9,388 10,207 
Gold and silver forwards realized gains (2)
— 615 
Other396 721 
$32,087 $31,035 
Non-current receivables:
Other tax receivable (3)
$9,111 $9,111 
Deferred cash consideration (1)
834 834 
Contingent consideration (1)
13,195 13,195 
$23,140 $23,140 
Total receivables$55,227 $54,175 
(1) See Note 11 -- Fair Value Measurements for additional details on deferred cash consideration and contingent consideration in the 2023 10-K.
(2) Represents realized gains on gold and silver forward hedges from December 2023 that contractually settled in subsequent months. See Note 12 -- Derivative Financial Instruments & Hedging for additional details on the gold and silver forward hedges.
(3) Consists of exploration credit refunds at Silvertip.
v3.24.2.u1
Inventory and Ore on Leach Pads (Tables)
6 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
Inventories Inventory consists of the following:
In thousandsJune 30, 2024December 31, 2023
Inventory:
Concentrate$3,187 $3,606 
Precious metals19,413 20,395 
Supplies54,296 52,660 
$76,896 $76,661 
Ore on Leach Pads:
Current$116,897 $79,400 
Non-current41,226 25,987 
$158,123 $105,387 
Long-term Stockpile (included in Other)
$41,714 $46,702 
Total Inventory and Ore on Leach Pads$276,733 $228,750 
    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 first quarter of 2024, the cost associated with the stock-pile at Rochester exceeded its net realizable value, which resulted in non-cash write down of $4.0 million ($3.2 million was recognized in Costs applicable to sales and $0.8 million in Amortization).
v3.24.2.u1
Property, Plant and Equipment (Tables)
6 Months Ended
Jun. 30, 2024
Property, Plant and Equipment [Abstract]  
Property, plant and equipment
Property, plant and equipment and mining properties, net consist of the following:
In thousandsJune 30, 2024December 31, 2023
Mine development$1,394,378 $1,358,189 
Mineral interests809,912 809,912 
Land9,000 8,318 
Facilities and equipment(1)
1,444,949 947,435 
Construction in progress(2)
153,476 612,865 
Total$3,811,715 $3,736,719 
Accumulated depreciation, depletion and amortization(3)
(2,115,764)(2,048,431)
Property, plant and equipment and mining properties, net$1,695,951 $1,688,288 
(1) Includes $119.8 million and $127.6 million associated with facilities and equipment assets under finance leases at June 30, 2024 and December 31, 2023, respectively.
(2) Includes $3.5 million and $471.7 million of construction costs related to the Rochester expansion project at June 30, 2024 and December 31, 2023, respectively.
(3) Includes $47.0 million and $37.6 million of accumulated amortization related to assets under finance leases at June 30, 2024 and December 31, 2023, respectively.
v3.24.2.u1
Debt (Tables)
6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Long term debt and capital lease obligations
 June 30, 2024December 31, 2023
In thousandsCurrentNon-CurrentCurrentNon-Current
2029 Senior Notes, net(1)
$— $289,691 $— $295,115 
Revolving Credit Facility(2)
— 275,000 — 175,000 
Finance lease obligations22,213 42,423 22,636 52,559 
$22,213 $607,114 $22,636 $522,674 
(1) Net of unamortized debt issuance costs of $3.4 million and $3.9 million at June 30, 2024 and December 31, 2023, respectively.
(2) Unamortized debt issuance costs of $4.2 million and $2.8 million at June 30, 2024 and December 31, 2023, respectively, included in Other Non-Current Assets.
Interest Expenses Incurred for Various Debt Instruments [Table Text Block]
Interest Expense
 Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
2029 Senior Notes$3,755 $4,507 $7,575 $9,312 
Revolving Credit Facility7,518 3,779 13,972 6,525 
Finance lease obligations997 908 2,256 1,753 
Amortization of debt issuance costs579 621 1,198 1,261 
Other debt obligations757 278 1,554 740 
Capitalized interest(444)(3,181)(446)(5,290)
Total interest expense, net of capitalized interest$13,162 $6,912 $26,109 $14,301 
v3.24.2.u1
Reclamation (Tables)
6 Months Ended
Jun. 30, 2024
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation
Changes to the Company’s asset retirement obligations for its operating sites are as follows:
Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Asset retirement obligation - Beginning$216,989 $205,380 $214,013 $202,431 
Accretion4,154 4,073 8,230 8,066 
Settlements(1,226)(1,493)(2,326)(2,537)
Asset retirement obligation - Ending$219,917 $207,960 $219,917 $207,960 
v3.24.2.u1
Income and Mining Taxes (Tables)
6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) The following table summarizes the components of Income and mining tax (expense) benefit for the three and six months ended June 30, 2024 and 2023 by significant jurisdiction:
Three months ended June 30,Six months ended June 30,
 2024202320242023
In thousandsIncome (loss) before taxTax (expense) benefitIncome (loss) before taxTax (expense) benefitIncome (loss) before taxTax (expense) benefitIncome (loss) before taxTax (expense) benefit
United States$(4,660)$1,677 $(35,540)$(2,264)$(33,890)$(2,142)$(61,320)$(3,282)
Canada(9,628)(258)(4,410)— (18,535)(372)(13,704)— 
Mexico22,948 (8,608)17,534 (7,602)48,152 (20,699)38,933 (17,292)
Other jurisdictions(45)— (130)— (205)— (333)— 
$8,615 $(7,189)$(22,546)$(9,866)$(4,478)$(23,213)$(36,424)$(20,574)
v3.24.2.u1
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Grants Awarded The following table summarizes the grants awarded during the six months ended June 30, 2024:
Grant dateRestricted
stock
Grant date fair
value of
restricted stock
Performance
shares
Grant date fair
value of
performance
shares
February 26, 20243,087,822 $2.55 2,050,899 $2.77 
v3.24.2.u1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Adjustments to Comprehensive income (Loss)
 Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Change in the value of equity securities(1)
$— $(3,922)$— $6,639 
Fair value adjustments, net$— $(3,922)$— $6,639 
(1) Includes unrealized losses on held equity securities of $3.7 million and $0.5 million for the three and six months ended June 30, 2023, 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 June 30, 2024
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Provisional metal sales contracts$41 $— $41 $— 
Liabilities:
Provisional metal sales contracts$231 $— $231 $— 
 
 Fair Value at December 31, 2023
In thousandsTotalLevel 1Level 2Level 3  
Assets:
Provisional metal sales contracts318 — 318 — 
Silver forwards3,312 — 3,312 — 
$3,630 $— $3,630 $— 
Liabilities:
Gold forwards$1,981 $— $1,981 $— 
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 June 30, 2024 and December 31, 2023 is presented in the following table:
 June 30, 2024
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Liabilities:
2029 Senior Notes(1)
$289,691 $271,720 $— $271,720 $— 
Revolving Credit Facility(2)
$275,000 $275,000 $— $275,000 $— 
(1) Net of unamortized debt issuance costs of $3.4 million.
(2) Unamortized debt issuance costs of $4.2 million included in Other Non-Current Assets.
 December 31, 2023
In thousandsBook ValueFair ValueLevel 1Level 2Level 3  
Liabilities:
2029 Senior Notes(1)
$295,115 $271,272 $— $271,272 $— 
Revolving Credit Facility(2)
$175,000 $175,000 $— $175,000 $— 
(1) Net of unamortized debt issuance costs of $3.9 million.
(2) Unamortized debt issuance costs of $2.8 million included in Other Non-Current Assets.
v3.24.2.u1
Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative instruments, future settlement
At June 30, 2024, the Company had the following derivative instruments that settle as follows:
In thousands except average prices and notional ounces20242025 and Thereafter
Provisional gold sales contracts$28,891 $— 
Average gold price per ounce$2,346 $— 
Notional ounces12,313 — 
Fair value of the derivative instruments
The following summarizes the classification of the fair value of the derivative instruments designated as cash flow hedges:
 June 30, 2024
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$— $— $— 
Silver forwards$— $— $— 
 December 31, 2023
In thousandsPrepaid expenses and otherOther assetsAccrued liabilities and other
Gold forwards$— $— $1,981 
Silver forwards$3,312 $— $— 
The following table sets forth the after-tax gains (losses) on derivatives designated as cash flow hedges that have been included in AOCI and the Condensed Consolidated Statement of Comprehensive Income (Loss) for the three and six months ended June 30, 2024 and 2023, respectively (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
 Amount of Gain (Loss) Recognized in AOCI
Gold forwards$(3,893)$7,303 $(10,886)$(8,053)
Silver forwards(6,988)5,539 (7,621)7,967 
$(10,881)$12,842 $(18,507)$(86)
Amount of (Gain) Loss Reclassified from AOCI to Earnings
Gold forwards$11,887 $1,369 $12,867 $(892)
Silver forwards5,141 (145)4,309 (2,018)
$17,028 $1,224 $17,176 $(2,910)
The following summarizes the classification of the fair value of the derivative instruments:
 June 30, 2024
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$41 $231 
 December 31, 2023
In thousandsPrepaid expenses and otherAccrued liabilities and other
Provisional metal sales contracts$318 $— 
Gain losses on derivative instruments
The following represent mark-to-market gains (losses) on derivative instruments in the three and six months ended June 30, 2024 and 2023, respectively (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
Financial statement lineDerivative2024202320242023
RevenueProvisional metal sales contracts$(998)$(71)$(508)$(319)
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.
v3.24.2.u1
Additional Comprehensive Income (Loss) Detail (Tables)
6 Months Ended
Jun. 30, 2024
Other Income and Expenses [Abstract]  
Schedule of Other Operating Cost and Expense, by Component
Pre-development, reclamation, and other consists of the following:
 Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Silvertip ongoing carrying costs$2,055 $4,609 $4,416 $10,789 
(Gain) loss on sale of assets640 312 4,176 312 
Asset retirement accretion4,154 4,073 8,230 8,066 
Kensington royalty settlement(1)
— — 6,750 — 
Other1,741 1,366 3,246 2,083 
Pre-development, reclamation and other$8,590 $10,360 $26,818 $21,250 
(1) See Note 16 -- Commitments and Contingencies for additional details on the Kensington royalty settlement.
Schedule of Nonoperating Income (Expense)
Other, net consists of the following:
 Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Foreign exchange gain (loss)$2,089 $627 $1,724 $(527)
Gain (loss) on dispositions— (12,319)— (12,319)
Flow-through shares1,455 — 3,945 — 
RMC bankruptcy distribution1,199 1,516 1,199 1,516 
Other379 569 1,027 762 
Other, net$5,122 $(9,607)$7,895 $(10,568)
v3.24.2.u1
Net Income (Loss) Per Share (Tables)
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
Three months ended June 30,Six months ended June 30,
In thousands except per share amounts2024202320242023
Net income (loss) available to common stockholders$1,426 $(32,412)$(27,691)$(56,998)
Weighted average shares:
Basic393,838 333,082 389,403 317,105 
Effect of stock-based compensation plans6,071 — — — 
Diluted399,909 333,082 389,403 317,105 
Income (loss) per share:
Basic$0.00 $(0.10)$(0.07)$(0.18)
Diluted$0.00 $(0.10)$(0.07)$(0.18)
v3.24.2.u1
Supplemental Guarantor Information (Tables)
6 Months Ended
Jun. 30, 2024
Condensed Financial Information Disclosure [Abstract]  
Condensed Balance Sheet
SUMMARIZED BALANCE SHEET
Coeur Mining, Inc.Subsidiary Guarantors
In thousandsJune 30, 2024December 31, 2023June 30, 2024December 31, 2023
Current assets$12,209 $19,850 $186,956 $143,170 
Non-current assets(1)
$400,622 $393,773 $1,312,057 $1,286,135 
Non-guarantor intercompany assets$— $— $— $— 
Current liabilities$28,760 $27,836 $165,398 $198,262 
Non-current liabilities$574,600 $478,488 $194,656 $203,405 
Non-guarantor intercompany liabilities$3,186 $6,033 $1,596 $1,591 
(1) Coeur Mining, Inc.’s non-current assets includes its investment in Guarantor Subsidiaries.
Schedule of Comprehensive Income (Loss)
SUMMARIZED STATEMENTS OF INCOME
SIX MONTHS ENDED JUNE 30, 2024
In thousandsCoeur Mining, Inc.Subsidiary Guarantors
Revenue$— $255,462 
Gross profit (loss)$(433)$37,564 
Net income (loss)$(27,691)$6,361 
v3.24.2.u1
Commitment and Contingencies (Tables)
6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Summary of Contract Liability
The following table presents a roll forward of the Franco-Nevada contract liability balance:
Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Opening Balance$6,784 $7,296 $6,943 $7,411 
Revenue Recognized(118)(100)(277)(215)
Closing Balance$6,666 $7,196 $6,666 $7,196 
The following table presents a roll forward of the prepayment contract liability balance:
Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Opening Balance$55,112 $15,127 $55,082 $25,016 
Additions30,175 44,885 85,205 44,996 
Revenue Recognized(42,005)(15,000)(97,005)(25,000)
Closing Balance$43,282 $45,012 $43,282 $45,012 
v3.24.2.u1
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Tables)
6 Months Ended
Jun. 30, 2024
Supplemental Cash Flow Information [Abstract]  
Schedule of Accrued Liabilities [Table Text Block]
Accrued liabilities and other consist of the following:
In thousandsJune 30, 2024December 31, 2023
Accrued salaries and wages$23,294 $31,722 
Flow-through share premium received2,467 5,563 
Deferred revenue (1)
43,784 55,547 
Income and mining taxes14,731 11,766 
Kensington royalty settlement (1)
3,750 — 
Accrued operating costs12,238 11,081 
Unrealized losses on derivatives231 1,981 
Taxes other than income and mining2,974 5,321 
Accrued interest payable9,596 7,957 
Operating lease liabilities6,743 9,975 
Accrued liabilities and other$119,808 $140,913 
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 Condensed Consolidated Balance Sheets that total the same such amounts shown in the Condensed Consolidated Statements of Cash Flows in the three and six months ended June 30, 2024 and 2023:
In thousandsJune 30, 2024June 30, 2023
Cash and cash equivalents$74,136 $56,845 
Restricted cash equivalents1,755 1,715 
Total cash, cash equivalents and restricted cash shown in the statement of cash flows$75,891 $58,560 
v3.24.2.u1
Segment Reporting (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Financial information relating to reporting segments              
Revenue $ 222,026   $ 177,235   $ 435,086 $ 364,533  
Amortization 27,928   19,595   55,225 42,303  
Other operating expenses 19,831   20,149   52,463 43,122  
Fair value adjustments, net, pretax 0   (3,922)   0 6,639  
Interest expense, net of capitalized interest (13,162)   (6,912)   (26,109) (14,301)  
Other, net 5,122   (9,607)   7,895 (10,568) [1]  
Income and mining tax (expense) benefit (7,189)   (9,866)   (23,213) (20,574)  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 1,426   (32,412)   (27,691) (56,998)  
Net income (loss) 1,426 $ (29,117) (32,412) $ (24,586) (27,691) (56,998)  
Assets, Net [2] 1,998,277   1,832,712   1,998,277 1,832,712 $ 1,943,037
Capital expenditures 51,405   85,581   93,488 159,629  
Gain on debt extinguishment (21)   2,961   417 2,961  
Palmarejo [Member]              
Financial information relating to reporting segments              
Amortization 10,843   8,017   23,445 16,736  
Other operating expenses 2,446   2,233   4,700 3,759  
Fair value adjustments, net, pretax 0   0   0 0  
Interest expense, net of capitalized interest 397   178   371 300  
Other, net 2,881   3,022   3,427 [1] 2,884 [1]  
Income and mining tax (expense) benefit (7,311)   (6,220)   (18,994) (15,922)  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 15,119   11,253   28,699 23,019  
Assets, Net [2] 302,034   311,609   302,034 311,609  
Capital expenditures 5,871   11,914   12,632 22,064  
Gain on debt extinguishment 0   0   0 0  
Rochester              
Financial information relating to reporting segments              
Amortization 8,570   3,649   15,203 8,867  
Other operating expenses 2,826   2,400   8,576 4,425  
Fair value adjustments, net, pretax 0   0   0 0  
Interest expense, net of capitalized interest (1,055)   (287)   (2,395) (462)  
Other, net (146)   (47)   (116) [1] (140) [1]  
Income and mining tax (expense) benefit 672   137   906 376  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (6,793)   (3,492)   (17,853) (20,112)  
Assets, Net [2] 1,125,586   977,958   1,125,586 977,958  
Capital expenditures 27,530   61,458   48,773 113,420  
Gain on debt extinguishment 0   0   0 0  
Kensington              
Financial information relating to reporting segments              
Amortization 6,445   4,801   12,041 10,645  
Other operating expenses 1,129   960   8,755 1,944  
Fair value adjustments, net, pretax 0   0   0 0  
Interest expense, net of capitalized interest (499)   (325)   (970) (855)  
Other, net (82)   (80)   (163) [1] (151) [1]  
Income and mining tax (expense) benefit 0   0   0 0  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 887   (23,041)   (10,202) (28,650)  
Assets, Net [2] 196,671   160,145   196,671 160,145  
Capital expenditures 16,477   11,656   29,735 22,358  
Gain on debt extinguishment 0   0   0 0  
Wharf              
Financial information relating to reporting segments              
Amortization 1,067   1,805   2,460 3,214  
Other operating expenses 1,144   1,029   2,245 2,043  
Fair value adjustments, net, pretax 0   0   0 0  
Interest expense, net of capitalized interest (125)   (30)   (277) (44)  
Other, net (45)   145   (87) [1] (331) [1]  
Income and mining tax (expense) benefit (1,872)   (2,301)   (3,008) (2,720)  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent 20,469   17,956   34,441 21,973  
Assets, Net [2] 108,268   103,249   108,268 103,249  
Capital expenditures 1,156   150   1,464 271  
Gain on debt extinguishment 0   0   0 0  
Silvertip [Member]              
Financial information relating to reporting segments              
Amortization 790   1,021   1,642 2,242  
Other operating expenses 2,404   4,961   5,109 11,507  
Fair value adjustments, net, pretax 0   0   0 0  
Interest expense, net of capitalized interest (4)   (18)   (10) (40)  
Other, net 18   (110)   (40) [1] (119) [1]  
Income and mining tax (expense) benefit 0   0   0 0  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (9,625)   (4,482)   (18,526) (13,777)  
Assets, Net [2] 213,833   217,831   213,833 217,831  
Capital expenditures 350   138   859 807  
Gain on debt extinguishment 0   0   0 0  
Other Mining Properties [Member]              
Financial information relating to reporting segments              
Amortization 213   302   434 599  
Other operating expenses 9,882   8,566   23,078 19,444  
Fair value adjustments, net, pretax 0   (3,922)   0 6,639  
Interest expense, net of capitalized interest (11,876)   (6,430)   (22,828) (13,200)  
Other, net 2,496   (12,537)   4,874 [1] (12,711) [1]  
Income and mining tax (expense) benefit 1,322   (1,482)   (2,117) (2,308)  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent (18,631)   (30,606)   (44,250) (39,451)  
Assets, Net [2] 51,885   61,920   51,885 61,920  
Capital expenditures 21   265   25 709  
Gain on debt extinguishment (21)   2,961   417 2,961  
Gold [Member]              
Financial information relating to reporting segments              
Revenue 154,085   121,355   305,854 248,456  
Gold [Member] | Palmarejo [Member]              
Financial information relating to reporting segments              
Revenue 42,411   35,296   96,313 75,903  
Gold [Member] | Rochester              
Financial information relating to reporting segments              
Revenue 17,368   12,638   30,049 28,685  
Gold [Member] | Kensington              
Financial information relating to reporting segments              
Revenue 51,104   24,538   94,589 64,662  
Gold [Member] | Wharf              
Financial information relating to reporting segments              
Revenue 43,202   48,883   84,903 79,206  
Gold [Member] | Silvertip [Member]              
Financial information relating to reporting segments              
Revenue 0   0   0 0  
Gold [Member] | Other Mining Properties [Member]              
Financial information relating to reporting segments              
Revenue 0   0   0 0  
Product, Silver              
Financial information relating to reporting segments              
Revenue 67,941   55,880   129,232 116,077  
Product, Silver | Palmarejo [Member]              
Financial information relating to reporting segments              
Revenue 40,835   37,432   83,311 79,132  
Product, Silver | Rochester              
Financial information relating to reporting segments              
Revenue 25,396   16,463   42,544 34,316  
Product, Silver | Kensington              
Financial information relating to reporting segments              
Revenue (50)   63   (16) 137  
Product, Silver | Wharf              
Financial information relating to reporting segments              
Revenue 1,760   1,922   3,393 2,492  
Product, Silver | Silvertip [Member]              
Financial information relating to reporting segments              
Revenue 0   0   0 0  
Product, Silver | Other Mining Properties [Member]              
Financial information relating to reporting segments              
Revenue 0   0   0 0  
Product, Metal [Member]              
Financial information relating to reporting segments              
Revenue 222,026   177,235   435,086 364,533  
Product, Metal [Member] | Palmarejo [Member]              
Financial information relating to reporting segments              
Revenue 83,246   72,728   179,624 155,035  
Product, Metal [Member] | Rochester              
Financial information relating to reporting segments              
Revenue 42,764   29,101   72,593 63,001  
Product, Metal [Member] | Kensington              
Financial information relating to reporting segments              
Revenue 51,054   24,601   94,573 64,799  
Product, Metal [Member] | Wharf              
Financial information relating to reporting segments              
Revenue 44,962   50,805   88,296 81,698  
Product, Metal [Member] | Silvertip [Member]              
Financial information relating to reporting segments              
Revenue 0   0   0 0  
Product, Metal [Member] | Other Mining Properties [Member]              
Financial information relating to reporting segments              
Revenue 0   0   0 0  
Product              
Financial information relating to reporting segments              
Costs applicable to sales [3] 144,717   139,637   290,714 292,693  
Product | Palmarejo [Member]              
Financial information relating to reporting segments              
Costs applicable to sales 48,227   46,591   102,521 [3] 95,856 [3]  
Product | Rochester              
Financial information relating to reporting segments              
Costs applicable to sales 36,655   26,068   63,654 [3] 68,933 [3]  
Product | Kensington              
Financial information relating to reporting segments              
Costs applicable to sales 40,721   39,149   80,010 [3] 76,531 [3]  
Product | Wharf              
Financial information relating to reporting segments              
Costs applicable to sales 19,114   27,829   44,529 [3] 51,373 [3]  
Product | Silvertip [Member]              
Financial information relating to reporting segments              
Costs applicable to sales 0   0   0 [3] 0 [3]  
Product | Other Mining Properties [Member]              
Financial information relating to reporting segments              
Costs applicable to sales 0   0   0 [3] 0 [3]  
Mineral, Exploration              
Financial information relating to reporting segments              
Costs applicable to sales 12,874   2,920   23,365 7,570  
Mineral, Exploration | Palmarejo [Member]              
Financial information relating to reporting segments              
Costs applicable to sales 2,578   1,614   5,063 2,927  
Mineral, Exploration | Rochester              
Financial information relating to reporting segments              
Costs applicable to sales 977   279   1,408 662  
Mineral, Exploration | Kensington              
Financial information relating to reporting segments              
Costs applicable to sales 1,291   2,327   2,836 3,323  
Mineral, Exploration | Wharf              
Financial information relating to reporting segments              
Costs applicable to sales 1,126   0   1,249 0  
Mineral, Exploration | Silvertip [Member]              
Financial information relating to reporting segments              
Costs applicable to sales 6,445   (1,628)   11,725 (131)  
Mineral, Exploration | Other Mining Properties [Member]              
Financial information relating to reporting segments              
Costs applicable to sales $ 457   $ 328   $ 1,084 $ 789  
[1] See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.
[2] Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
[3] Excludes amortization.
v3.24.2.u1
Segment Reporting (Details 1) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Segment Reporting [Abstract]      
Assets, Net [1] $ 1,998,277 $ 1,943,037 $ 1,832,712
Cash and cash equivalents 74,136 61,633 $ 56,845
Other assets 70,636 76,178  
TOTAL ASSETS $ 2,143,049 $ 2,080,848  
[1] Segment assets include receivables, prepaids, inventories, property, plant and equipment, and mineral interests.
v3.24.2.u1
Segment Reporting (Details 2) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Long Lived Assets          
Long Lived Assets in Entity's Country of Domicile $ 1,695,951   $ 1,695,951   $ 1,688,288
Revenues          
Revenue 222,026 $ 177,235 435,086 $ 364,533  
United States          
Long Lived Assets          
Long Lived Assets in Entity's Country of Domicile 1,218,875   1,218,875   1,201,988
Revenues          
Revenue 138,780 104,507 255,462 209,498  
Canada          
Long Lived Assets          
Long Lived Assets in Entity's Country of Domicile 228,373   228,373   229,242
Mexico          
Long Lived Assets          
Long Lived Assets in Entity's Country of Domicile 248,549   248,549   256,906
Revenues          
Revenue 83,246 $ 72,728 179,624 $ 155,035  
Other Foreign Countries [Member]          
Long Lived Assets          
Long Lived Assets in Entity's Country of Domicile $ 154   $ 154   $ 152
v3.24.2.u1
Receivables (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Receivables - current portion    
Accounts receivable - trade $ 7,404 $ 3,858
Refundable value added tax 14,899 15,634
Income Taxes Receivable 9,388 10,207
Derivative Asset, Current [1] 0 615
Accounts receivable - other 396 721
Receivables, net current portion 32,087 31,035
Receivables - non-current portion    
Other tax receivable [2] 9,111 9,111
Deferred cash consideration (1) [3] 834 834
Contingent consideration (1) [3] 13,195 13,195
Non-current receivables: 23,140 23,140
Total receivables $ 55,227 $ 54,175
[1] Represents realized gains on gold and silver forward hedges from December 2023 that contractually settled in subsequent months. See Note 12 -- Derivative Financial Instruments & Hedging for additional details on the gold and silver forward hedges.
[2] Consists of exploration credit refunds at Silvertip.
[3] See Note 11 -- Fair Value Measurements for additional details on deferred cash consideration and contingent consideration in the 2023 10-K.
v3.24.2.u1
Inventory and Ore on Leach Pads (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Inventory Disclosure [Abstract]    
Inventory, Finished Goods, Net of Reserves $ 3,187 $ 3,606
Other Inventory, Net of Reserves 19,413 20,395
Inventory, Supplies, Net of Reserves 54,296 52,660
Inventory 76,896 76,661
Ore on Leach Pad, Current 116,897 79,400
Ore on leach pads, noncurrent 41,226 25,987
Inventory, Ore Stockpiles on Leach Pads, Gross 158,123 105,387
Inventory and Ore on Leach Pads 276,733 228,750
Long-Term Inventory Stockpile $ 41,714 $ 46,702
v3.24.2.u1
Inventory and Ore on Leach Pads - Narrative (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Inventory [Line Items]        
Inventory Write-down $ 0 $ 1,627 $ 3,235 $ 14,740
Rochester        
Inventory [Line Items]        
Inventory Write-down     4,000  
Rochester | Amortization        
Inventory [Line Items]        
Inventory Write-down     800  
Rochester | Cost of Sales        
Inventory [Line Items]        
Inventory Write-down     $ 3,200  
v3.24.2.u1
Property, Plant and Equipment (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Property, plant and equipment    
Operational Mining Properties Gross $ 1,394,378 $ 1,358,189
Mineral Interest 809,912 809,912
Land 9,000 8,318
Buildings and Improvements, Gross [1] 1,444,949 947,435
Property, Plant and Equipment, Gross 3,811,715 3,736,719
Accumulated depreciation and amortization [2] (2,115,764) (2,048,431)
Construction in Progress, Gross [3] 153,476 612,865
Property, plant and equipment and mining properties, net $ 1,695,951 $ 1,688,288
[1] Includes $119.8 million and $127.6 million associated with facilities and equipment assets under finance leases at June 30, 2024 and December 31, 2023, respectively.
[2] Includes $47.0 million and $37.6 million of accumulated amortization related to assets under finance leases at June 30, 2024 and December 31, 2023, respectively.
[3] Includes $3.5 million and $471.7 million of construction costs related to the Rochester expansion project at June 30, 2024 and December 31, 2023, respectively.
v3.24.2.u1
Property, Plant and Equipment (Details Textual) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Finance Lease, Right-of-Use Asset, before Accumulated Amortization $ 119,800 $ 127,600
Construction in Progress, Gross [1] 153,476 612,865
Finance Lease, Right-Of-Use Asset, Accumulated Depreciation 47,000 37,600
Rochester    
Property, Plant and Equipment [Line Items]    
Construction in Progress, Gross $ 3,500 $ 471,700
[1] Includes $3.5 million and $471.7 million of construction costs related to the Rochester expansion project at June 30, 2024 and December 31, 2023, respectively.
v3.24.2.u1
Property, Plant and Equipment and Mining Properties, Net (Narrtive) (Details)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
ton / d
Jun. 30, 2024
USD ($)
Property, Plant and Equipment [Line Items]    
Crushing circuit production (tons per day) | ton / d 88,000  
Rochester    
Property, Plant and Equipment [Line Items]    
Construction in process placed into service | $   $ 528
v3.24.2.u1
Debt (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Long term debt and capital lease obligations      
Current   $ 22,213 $ 22,636
Debt   607,114 522,674
Senior Notes due 2029      
Long term debt and capital lease obligations      
Net unamortized debt issuance costs   3,400 3,900
Extinguishment of debt $ 5,900    
Senior Notes due 2029      
Long term debt and capital lease obligations      
Debt [1]   289,691 295,115
Revolving Credit Facility      
Long term debt and capital lease obligations      
Debt [2]   275,000 175,000
Finance Lease Obligations      
Long term debt and capital lease obligations      
Debt   42,423 52,559
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
Finance Lease Obligations      
Long term debt and capital lease obligations      
Current   22,213 22,636
Revolving Credit Facility      
Long term debt and capital lease obligations      
Net unamortized debt issuance costs   $ 4,200 $ 2,800
[1] Net of unamortized debt issuance costs of $3.4 million and $3.9 million at June 30, 2024 and December 31, 2023, respectively.
[2] Unamortized debt issuance costs of $4.2 million and $2.8 million at June 30, 2024 and December 31, 2023, respectively, included in Other Non-Current Assets
v3.24.2.u1
Debt (Details Textual) - USD ($)
shares in Thousands, $ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended
Feb. 21, 2024
Mar. 31, 2021
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
May 02, 2022
Debt Instrument [Line Items]                
Gain on debt extinguishment     $ (21)   $ 2,961 $ 417 $ 2,961  
Finance Lease Obligations           1,000    
Senior Notes due 2029                
Debt Instrument [Line Items]                
Debt Instrument, Face Amount   $ 375,000            
Proceeds from debt   $ 367,500            
Extinguishment of debt       $ 5,900        
Converted shares (in shares)       1,800        
Gain on debt extinguishment       $ 400        
Revolving Credit Facility                
Debt Instrument [Line Items]                
Additional increases in RCF $ 100,000              
Non-capitalized underground mine development costs 15,000              
Line of credit facility 10,000              
Letters of credit outstanding, amount     $ 29,500     $ 29,500    
Revolving Credit Facility | Line of Credit                
Debt Instrument [Line Items]                
Stated interest rate     9.20%     9.20%    
Long-term debt     $ 275,000     $ 275,000    
Amount available subject to debt covenants     $ 95,500     $ 95,500    
Revolving Credit Facility | Credit Agreement | Line of Credit                
Debt Instrument [Line Items]                
Maximum borrowing capacity $ 400,000             $ 390,000
v3.24.2.u1
Debt - Interest Expense (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Debt Disclosure [Abstract]        
Interest paid on Senior Notes due 2029 $ 3,755 $ 4,507 $ 7,575 $ 9,312
Interest paid on Revolving Credit Facility 7,518 3,779 13,972 6,525
Finance Lease, Interest Expense 997 908 2,256 1,753
Amortization of Debt Issuance Costs 579 621 1,198 1,261
Interest Expense, Other 757 278 1,554 740
Interest Costs Capitalized Adjustment (444) (3,181) (446) (5,290)
Interest Costs Incurred $ 13,162 $ 6,912 $ 26,109 $ 14,301
v3.24.2.u1
Reclamation (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]                
Asset Retirement Obligation $ 219,917 $ 207,960 $ 219,917 $ 207,960 $ 216,989 $ 214,013 $ 205,380 $ 202,431
Asset Retirement Obligation, Accretion Expense, Excluding Held for Sale Disposal Group. 4,154 4,073 8,230 8,066        
Asset Retirement Obligation, Liabilities Settled $ (1,226) $ (1,493) $ (2,326) $ (2,537)        
v3.24.2.u1
Income and Mining Taxes - Income (Loss) Before Income Taxes (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Tax Examination [Line Items]        
Income (loss) before income and mining taxes $ 8,615 $ (22,546) $ (4,478) $ (36,424)
Tax (expense) benefit 7,189 9,866 23,213 20,574
United States        
Income Tax Examination [Line Items]        
United States, Income (loss) before tax (4,660) (35,540) (33,890) (61,320)
Tax (expense) benefit 1,677 (2,264) (2,142) (3,282)
Canada        
Income Tax Examination [Line Items]        
Foreign, Income (loss) before tax 9,628 4,410 18,535 13,704
Tax (expense) benefit (258) 0 (372) 0
Mexico        
Income Tax Examination [Line Items]        
Foreign, Income (loss) before tax (22,948) (17,534) (48,152) (38,933)
Tax (expense) benefit (8,608) (7,602) (20,699) (17,292)
Other jurisdictions        
Income Tax Examination [Line Items]        
Foreign, Income (loss) before tax 45 130 205 333
Tax (expense) benefit $ 0 $ 0 $ 0 $ 0
v3.24.2.u1
Income and Mining Taxes - Narrative (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Tax Disclosure [Abstract]        
Tax (expense) benefit $ 7,189 $ 9,866 $ 23,213 $ 20,574
Effective income tax rate 83.40% (43.80%)    
v3.24.2.u1
Stock-Based Compensation - Narrative (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Unrecognized stock-based compensation cost $ 13.0   $ 13.0  
Unrecognized stock-based compensation cost, weighted-average period recognized     1 year 9 months 18 days  
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 $ 2.7 $ 2.7 $ 6.9 $ 5.8
v3.24.2.u1
Stock-Based Compensation - Summary of Grants Awarded (Details) - February 26, 2024
6 Months Ended
Jun. 30, 2024
$ / shares
shares
Restricted stock  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Restricted stock | shares 3,087,822
Grant date fair value of restricted stock | $ / shares $ 2.55
Performance shares  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Performance shares | shares 2,050,899
Grant date fair value of performance shares | $ / shares $ 2.77
v3.24.2.u1
Fair Value Measurements - Summary of Gain (Loss) Derivative Instruments (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Fair Value Disclosures [Abstract]        
Unrealized gain (loss) on equity securities $ 0 $ (3,922) $ 0 $ 6,639
Fair value adjustments, net $ 0 (3,922) $ 0 6,639
Marketable Security, Realized Gain (Loss)   $ (3,700)   $ (500)
v3.24.2.u1
Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Assets:    
Assets   $ 3,630
Gold Forwards    
Liabilities:    
Fair value of derivative liability   1,981
SIlver Forwards    
Assets:    
Fair value of other derivative instruments, net   3,312
Level 1    
Assets:    
Assets   0
Level 1 | Gold Forwards    
Liabilities:    
Fair value of derivative liability   0
Level 1 | SIlver Forwards    
Assets:    
Fair value of other derivative instruments, net   0
Level 2    
Assets:    
Assets   3,630
Level 2 | Gold Forwards    
Liabilities:    
Fair value of derivative liability $ 0 1,981
Level 2 | SIlver Forwards    
Assets:    
Fair value of other derivative instruments, net   3,312
Level 3      
Assets:    
Assets   0
Level 3   | Gold Forwards    
Liabilities:    
Fair value of derivative liability   0
Level 3   | SIlver Forwards    
Assets:    
Fair value of other derivative instruments, net   $ 0
v3.24.2.u1
Fair Value Measurements - Summary of Assets and Liabilities Carried at Book Value (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt $ 607,114 $ 522,674
Revolving Credit Facility    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt [1] 275,000 175,000
Senior Notes due 2029    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Book value 289,691 295,115
Debt [2] 289,691 295,115
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 275,000 175,000
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 275,000 175,000
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 271,720 271,272
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 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 271,720 271,272
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 0
Senior Notes due 2029    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Net unamortized debt issuance costs 3,400 3,900
Revolving Credit Facility    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Net unamortized debt issuance costs $ 4,200 $ 2,800
[1] Unamortized debt issuance costs of $4.2 million and $2.8 million at June 30, 2024 and December 31, 2023, respectively, included in Other Non-Current Assets
[2] Net of unamortized debt issuance costs of $3.4 million and $3.9 million at June 30, 2024 and December 31, 2023, respectively.
v3.24.2.u1
Derivative Financial Instruments - Summary of Provisionally Priced Sales (Details) - Gold concentrates sales agreements
$ in Thousands
Jun. 30, 2024
USD ($)
oz
$ / oz
2024  
Derivative instruments Settlement  
Notional Amount Derivative | $ $ 28,891
Derivative average price | $ / oz 2,346
Outstanding Provisionally Priced Sales Consists of Gold | oz 12,313
2025 and Thereafter  
Derivative instruments Settlement  
Notional Amount Derivative | $ $ 0
Derivative average price | $ / oz 0
Outstanding Provisionally Priced Sales Consists of Gold | oz 0
v3.24.2.u1
Derivative Financial Instruments - Summary of Classification of Fair Value of Derivative Instruments (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Fair Value, Recurring    
Fair value of the derivative instruments    
Assets   $ 3,630
Fair Value, Recurring | Level 1    
Fair value of the derivative instruments    
Assets   0
Fair Value, Recurring | Level 2    
Fair value of the derivative instruments    
Assets   3,630
Fair Value, Recurring | Level 3      
Fair value of the derivative instruments    
Assets   0
Silver and Gold Concentrate Sales Agreements | Prepaid expenses and other    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset $ 41 318
Silver and Gold Concentrate Sales Agreements | Accrued liabilities and other    
Fair value of the derivative instruments    
Fair Value of Derivative Liability 231  
Provisional metal sales contracts | Fair Value, Recurring    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 41 318
Fair Value of Derivative Liability 231  
Provisional metal sales contracts | Fair Value, Recurring | Level 1    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 0 0
Fair Value of Derivative Liability 0  
Provisional metal sales contracts | Fair Value, Recurring | Level 2    
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 41 318
Provisional metal sales contracts | Fair Value, Recurring | Level 3      
Fair value of the derivative instruments    
Embedded Derivative, Fair Value of Embedded Derivative Asset 0 0
Fair Value of Derivative Liability 0  
SIlver Forwards | Fair Value, Recurring    
Fair value of the derivative instruments    
Fair value of derivative asset   3,312
SIlver Forwards | Fair Value, Recurring | Level 1    
Fair value of the derivative instruments    
Fair value of derivative asset   0
SIlver Forwards | Fair Value, Recurring | Level 2    
Fair value of the derivative instruments    
Fair value of derivative asset   3,312
SIlver Forwards | Fair Value, Recurring | Level 3      
Fair value of the derivative instruments    
Fair value of derivative asset   0
Gold Forwards | Fair Value, Recurring    
Fair value of the derivative instruments    
Fair value of derivative liability   1,981
Gold Forwards | Fair Value, Recurring | Level 1    
Fair value of the derivative instruments    
Fair value of derivative liability   0
Gold Forwards | Fair Value, Recurring | Level 2    
Fair value of the derivative instruments    
Fair value of derivative liability $ 0 1,981
Gold Forwards | Fair Value, Recurring | Level 3      
Fair value of the derivative instruments    
Fair value of derivative liability   $ 0
v3.24.2.u1
Derivative Financial Instruments - Summary of Mark-to-Market Gain (Losses) on Derivative Instruments (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]        
Provisional gain (loss) on derivatives and commodity contracts $ (998) $ (71) $ (508) $ (319)
v3.24.2.u1
Derivative Financial Instruments - Narrative (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Derivative [Line Items]        
Provisional gain (loss) on derivatives and commodity contracts $ (998) $ (71) $ (508) $ (319)
Unrealized gain (loss) on hedger, net of tax $ (10,881) $ 12,842 $ (18,507) $ (86)
v3.24.2.u1
Derivative Financial Instruments - Summary of Classification of Fair Value on Derivatives Designated as Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Gold Forwards | Prepaid expenses and other    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset $ 0 $ 0
Gold Forwards | Accrued liabilities and other    
Derivatives, Fair Value [Line Items]    
1981000   1,981
Gold Forwards | Other Assets    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset 0 0
SIlver Forwards | Prepaid expenses and other    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset 0 3,312
SIlver Forwards | Accrued liabilities and other    
Derivatives, Fair Value [Line Items]    
1981000 0 0
SIlver Forwards | Other Assets    
Derivatives, Fair Value [Line Items]    
Fair value of derivative asset $ 0 $ 0
v3.24.2.u1
Derivative Financial Instruments - Summary of Pre-tax Gains (Losses) On Derivatives Designated as Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Gains (losses) recognized in OCI - effective portion: $ (10,881) $ 12,842 $ (18,507) $ (86)
Gains (losses) reclassified from AOCI into net income - effective portion: 17,028 1,224 17,176 (2,910)
Gold Forwards        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Gains (losses) recognized in OCI - effective portion: (3,893) 7,303 (10,886) (8,053)
Gains (losses) reclassified from AOCI into net income - effective portion: 11,887 1,369 12,867 (892)
SIlver Forwards        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Gains (losses) recognized in OCI - effective portion: (6,988) 5,539 (7,621) 7,967
Gains (losses) reclassified from AOCI into net income - effective portion: $ 5,141 $ (145) $ 4,309 $ (2,018)
v3.24.2.u1
Additional Comprehensive Income (Loss) Detail - Summary of Pre-development, reclamation and other (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Other Income and Expenses [Abstract]        
Care and maintenance costs $ 2,055 $ 4,609 $ 4,416 $ 10,789
(Gain) loss on sale of assets 640 312 4,176 312
Accretion 4,154 4,073 8,230 8,066
Royalty settlement 0 0 6,750 [1] 0 [1]
Other Operating Income (Expense), Net 1,741 1,366 3,246 2,083
Pre-development, reclamation, and other $ 8,590 $ 10,360 $ 26,818 $ 21,250
[1] See Note 16 -- Commitments and Contingencies for additional details on the Kensington royalty settlement
v3.24.2.u1
Additional Comprehensive Income (Loss) Detail - Summary of Other Non-Operating (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Other Income and Expenses [Abstract]        
Foreign exchange gain (loss) $ 2,089 $ 627 $ 1,724 $ (527)
Gain (loss) on dispositions 0 (12,319) 0 (12,319)
Flow-through shares 1,455 0 3,945 0
RMC bankruptcy distribution 1,199 1,516 1,199 1,516
Interest Income, Other 379 569 1,027 762
Other, net $ 5,122 $ (9,607) $ 7,895 $ (10,568) [1]
[1] See Note 13 -- Additional Comprehensive Income (Loss) Detail for additional detail.
v3.24.2.u1
Net Income (Loss) Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 6 Months Ended
Mar. 17, 2023
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Feb. 26, 2024
Dec. 31, 2023
Earnings Per Share (Textual) [Abstract]                  
Number of antidilutive shares of common stock equivalents   29,130   2,000,000.0   4,600,000 1,700,000    
Common stock, shares issued (in shares)   399,240,520       399,240,520   7,704,725 386,282,957
Common stock, par value (in dollars per share) $ 0.01 $ 0.01       $ 0.01   $ 0.01 $ 0.01
Common stock issued for investment (in shares) 32,861,580                
Net Income (Loss) Attributable to Coeur Stockholders                  
NET INCOME (LOSS)   $ 1,426 $ (29,117) $ (32,412) $ (24,586) $ (27,691) $ (56,998)    
Weighted Average Number of Shares Outstanding                  
Weighted Average Number of Shares Outstanding, Basic   393,838,000   333,082,000   389,403,000 317,105,000    
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements   6,071,000   0   0 0    
Weighted Average Number of Shares Outstanding, Diluted   399,909,000   333,082,000   389,403,000 317,105,000    
Basic EPS                  
Earnings Per Share, Basic   $ 0.00   $ (0.10)   $ (0.07) $ (0.18)    
Diluted EPS                  
Earnings Per Share, Diluted   $ 0.00   $ (0.10)   $ (0.07) $ (0.18)    
Private Placement                  
Earnings Per Share (Textual) [Abstract]                  
Proceeds from (Repurchase of) Equity     23,700            
Proceeds from repurchase     $ 900            
v3.24.2.u1
Net Income (Loss) Per Share - Summary of Common Stock Issuance (Details) - USD ($)
$ / shares in Units, $ in Millions
3 Months Ended
Mar. 17, 2023
Mar. 31, 2024
Jun. 30, 2024
Feb. 26, 2024
Dec. 31, 2023
Subsidiary, Sale of Stock [Line Items]          
Common stock, shares issued (in shares)     399,240,520 7,704,725 386,282,957
Common stock, par value (in dollars per share) $ 0.01   $ 0.01 $ 0.01 $ 0.01
Aggregate Value of ATM Program $ 100.0        
Price per share $ 3.04        
Aggregate net proceeds from stock offering $ 98.4        
Private Placement          
Subsidiary, Sale of Stock [Line Items]          
Proceeds from (Repurchase of) Equity   $ 23.7      
Proceeds from repurchase   0.9      
Flow-through share premium liability income recognition   $ 3.9      
v3.24.2.u1
Supplemental Guarantor Information Condensed Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Condensed Financial Statements, Captions [Line Items]    
Current assets $ 312,096 $ 267,255
Current liabilities 260,298 289,613
Non-current liabilities 850,943 767,332
Coeur Mining, Inc.    
Condensed Financial Statements, Captions [Line Items]    
Current assets 12,209 19,850
Non-current assets(1) [1] 400,622 393,773
Non-guarantor intercompany assets 0 0
Current liabilities 28,760 27,836
Non-current liabilities 574,600 478,488
Non-guarantor intercompany liabilities 3,186 6,033
Subsidiary Guarantors    
Condensed Financial Statements, Captions [Line Items]    
Current assets 186,956 143,170
Non-current assets(1) [1] 1,312,057 1,286,135
Non-guarantor intercompany assets 0 0
Current liabilities 165,398 198,262
Non-current liabilities 194,656 203,405
Non-guarantor intercompany liabilities $ 1,596 $ 1,591
[1] Coeur Mining, Inc.’s non-current assets includes its investment in Guarantor Subsidiaries.
v3.24.2.u1
Supplemental Guarantor Information Condensed Consolidated Statements of Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Condensed Financial Statements, Captions [Line Items]            
Revenue $ 222,026   $ 177,235   $ 435,086 $ 364,533
Net income (loss) $ 1,426 $ (29,117) $ (32,412) $ (24,586) (27,691) $ (56,998)
Coeur Mining, Inc.            
Condensed Financial Statements, Captions [Line Items]            
Revenue         0  
Gross Profit         (433)  
Net income (loss)         (27,691)  
Subsidiary Guarantors            
Condensed Financial Statements, Captions [Line Items]            
Revenue         255,462  
Gross Profit         37,564  
Net income (loss)         $ 6,361  
v3.24.2.u1
Commitments and Contigencies (Details Textual)
ozt in Millions
3 Months Ended 6 Months Ended 36 Months Ended
Jan. 01, 2027
Nov. 20, 2023
USD ($)
oz
$ / oz
Jun. 30, 2024
USD ($)
shares
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
shares
Jun. 30, 2023
USD ($)
Dec. 31, 2026
Mar. 28, 2025
USD ($)
Jul. 08, 2024
USD ($)
Apr. 03, 2024
shares
Apr. 02, 2024
USD ($)
Mar. 31, 2024
USD ($)
Mar. 28, 2024
ozt
shares
Feb. 26, 2024
shares
Dec. 31, 2023
USD ($)
shares
Nov. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Oct. 02, 2014
USD ($)
Business Acquisition [Line Items]                                      
Valued-added Tax Outstanding     $ 28,700,000   $ 28,700,000                            
Revenue Recognized     $ 118,000 $ 15,100,000 $ 55,277,000 $ 25,215,000                          
Common stock, shares issued (in shares) | shares     399,240,520   399,240,520                 7,704,725 386,282,957        
Common stock fair value     $ 3,992,000   $ 3,992,000                   $ 3,863,000        
Inflation adjusted royalty payment | $ / oz   25                                  
Surety Bonds Outstanding     $ 343,600,000   $ 343,600,000                   324,800,000        
Kensington Royalty Matter | Settled Litigation                                      
Business Acquisition [Line Items]                                      
Royalty payment | ozt                         2            
Common stock, shares issued (in shares) | shares                   737,210                  
Common stock fair value                     $ 3,000,000                
Kensington Royalty Matter | Settled Litigation | Forecast                                      
Business Acquisition [Line Items]                                      
Royalty payment rate 1.50%           1.25%                        
Common stock fair value               $ 3,750,000                      
Mining Concessions Purchase Agreement Member                                      
Business Acquisition [Line Items]                                      
Cash payment at closing   $ 10,000,000                                  
Cash payment 12 months after closing                               $ 10,000,000      
Cash payment 24 months after closing                               5,000,000      
Total Consideration                               $ 25,000,000      
Mining Concessions Purchase Agreement Member | Subsequent Event                                      
Business Acquisition [Line Items]                                      
Cash payment at closing                 $ 10,000,000                    
Minimum                                      
Business Acquisition [Line Items]                                      
Amount of gold equivalent ounces discovered | oz   450,000                                  
Maximum                                      
Business Acquisition [Line Items]                                      
Amount of gold equivalent ounces discovered | oz   2,000,000                                  
Maximum | Kensington Royalty Matter | Settled Litigation                                      
Business Acquisition [Line Items]                                      
Common stock, shares issued (in shares) | shares                         2,455,000            
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                                     $ 22,000,000.0
Franco-Nevada Gold Stream Agreement                                      
Business Acquisition [Line Items]                                      
Production to be sold, percent     50.00%   50.00%                            
Total consideration         $ 78,000,000                            
Payments to acquire businesses, gross         75,000,000                            
Common shares issued (value)         3,000,000                            
Kensington                                      
Business Acquisition [Line Items]                                      
Revenue Recognized     $ (42,005,000) (15,000,000) (97,005,000) (25,000,000)                          
Revenue liability     43,282,000 $ 45,012,000 43,282,000 $ 45,012,000           $ 55,112,000     55,082,000   $ 15,127,000 $ 25,016,000  
Kensington | December 2023 Prepayment                                      
Business Acquisition [Line Items]                                      
Revenue liability     12,000,000   12,000,000             $ 25,000,000              
Rochester | September 2023 Prepayment                                      
Business Acquisition [Line Items]                                      
Revenue liability                             17,500,000        
Rochester | June 2024 Prepayment                                      
Business Acquisition [Line Items]                                      
Revenue liability     17,500,000   17,500,000                            
Wharf | September 2023 Prepayment                                      
Business Acquisition [Line Items]                                      
Revenue liability                             $ 12,500,000        
Wharf | June 2024 Prepayment                                      
Business Acquisition [Line Items]                                      
Revenue liability     $ 12,500,000   $ 12,500,000                            
v3.24.2.u1
Commitments and Contingencies - Contract Liability (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Business Acquisition [Line Items]        
Revenue Recognized $ 118 $ 15,100 $ 55,277 $ 25,215
Franco-Nevada        
Business Acquisition [Line Items]        
Opening Balance 6,784 7,296 6,943 7,411
Revenue Recognized (118) (100) (277) (215)
Closing Balance 6,666 7,196 6,666 7,196
Kensington        
Business Acquisition [Line Items]        
Opening Balance 55,112 15,127 55,082 25,016
Additions 30,175 44,885 85,205 44,996
Revenue Recognized (42,005) (15,000) (97,005) (25,000)
Closing Balance 43,282 $ 45,012 43,282 $ 45,012
Kensington | December 2023 Prepayment        
Business Acquisition [Line Items]        
Opening Balance 25,000      
Closing Balance $ 12,000   12,000  
Wharf | September 2023 Prepayment        
Business Acquisition [Line Items]        
Opening Balance     12,500  
Rochester | September 2023 Prepayment        
Business Acquisition [Line Items]        
Opening Balance     $ 17,500  
v3.24.2.u1
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]    
Accrued Salaries, Current $ 23,294 $ 31,722
Flow-through share premium received (including over-allotment) 2,467 5,563
Deferred Revenue [1] 43,784 55,547
Accrued Income Taxes, Current 14,731 11,766
Royalty settlement [1] 3,750 0
Other Accrued Liabilities 12,238 11,081
Unrealized Gain (Loss) on Derivatives 231 1,981
Accrual for Taxes Other than Income Taxes, Current 2,974 5,321
Interest Payable, Current 9,596 7,957
Operating Lease, Liability, Current 6,743 9,975
Accrued liabilities and other $ 119,808 $ 140,913
[1] See Note 16 -- Commitments and Contingencies for additional details on deferred revenue liabilities.
v3.24.2.u1
Additional Balance Sheet Detail and Supplemental Cash Flow Information (Details 1) - USD ($)
$ in Thousands
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Supplemental Cash Flow Information [Abstract]            
Cash and Cash Equivalents $ 74,136   $ 61,633 $ 56,845    
Restricted Cash Equivalents 1,755     1,715    
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 75,891 $ 69,240 $ 63,378 $ 58,560 $ 68,683 $ 63,169