Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 19, 2019 | Jun. 30, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | HECLA MINING CO/DE/ | ||
Entity Central Index Key | 719,413 | ||
Trading Symbol | hl | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Common Stock, Shares Outstanding (in shares) | 482,987,752 | ||
Entity Public Float | $ 1,382,183,101 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Shell Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | |
Current assets: | |||
Cash and cash equivalents | $ 27,389 | $ 186,107 | |
Investments | 0 | 33,758 | |
Accounts receivable: | |||
Trade | 4,184 | 14,805 | |
Taxes | 14,191 | 10,382 | |
Other, net | 7,443 | 7,003 | |
Inventories: | |||
Concentrates, doré, stockpiled ore, and metals in transit and in-process | 53,172 | 29,366 | |
Materials and supplies | 34,361 | 26,100 | |
Prepaid taxes | 12,231 | 2,790 | |
Other current assets | 11,179 | 10,925 | |
Total current assets | 164,150 | 321,236 | |
Non-current investments | 6,583 | 7,561 | |
Non-current restricted cash and investments | 1,025 | 1,032 | |
Properties, plants, and equipment - net | [1] | 2,520,004 | 1,999,311 |
Deferred income taxes | 1,987 | 1,509 | |
Other non-current assets | 10,195 | 14,509 | |
Total assets | [2] | 2,703,944 | 2,345,158 |
Current liabilities: | |||
Accounts payable and accrued liabilities | 77,861 | 46,549 | |
Accrued payroll and related benefits | 30,034 | 31,259 | |
Accrued taxes | 7,727 | 5,919 | |
Current portion of capital leases | 5,264 | 5,608 | |
Current portion of accrued reclamation and closure costs | 3,410 | 6,679 | |
Accrued interest | 5,961 | 5,745 | |
Other current liabilities | 5,937 | 10,371 | |
Total current liabilities | 136,194 | 112,130 | |
Long-term capital leases | 7,871 | 6,193 | |
Non-current portion of accrued reclamation | 104,979 | 79,366 | |
Long-term debt | 532,799 | 502,229 | |
Deferred tax liability | 173,537 | 124,352 | |
Non-current pension liability | 47,711 | 46,628 | |
Other non-current liabilities | 9,890 | 12,983 | |
Total liabilities | 1,012,981 | 883,881 | |
Commitments and contingencies (Notes 3, 4, 5, 7, 8, 9, and 11) | |||
STOCKHOLDERS’ EQUITY | |||
Preferred stock, 5,000,000 shares authorized: Series B preferred stock, $0.25 par value, 157,816 shares issued and outstanding, liquidation preference — $7,891 | 39 | 39 | |
Common stock, $0.25 par value, authorized 750,000,000 shares; issued and outstanding 2018 — 482,603,937 shares and 2017 — 399,176,425 shares | 121,956 | 100,926 | |
Capital surplus | 1,880,481 | 1,619,816 | |
Accumulated deficit | (248,308) | (218,089) | |
Accumulated other comprehensive loss, net | (42,469) | (23,373) | |
Less treasury stock, at cost; 2018 — 5,226,791 and 2017 — 4,529,450 shares issued and held in treasury | (20,736) | (18,042) | |
Total stockholders’ equity | 1,690,963 | 1,461,277 | |
Total liabilities and stockholders’ equity | $ 2,703,944 | $ 2,345,158 | |
[1] | Amounts reported as of and for the years ended December 31, 2017 and 2016 have been revised. See Note 2 for more information. | ||
[2] | Amounts reported as of and for the years ended December 31, 2017 and 2016 have been revised. See Note 2 for more information. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Series B preferred stock, par value (in dollars per share) | $ 0.25 | $ 0.25 |
Series B preferred stock, shares issued (in shares) | 157,816 | 157,816 |
Series B preferred stock, shares outstanding (in shares) | 157,816 | 157,816 |
Series B preferred stock, liquidation preference | $ 7,891 | $ 7,891 |
Common stock, par value (in dollars per share) | $ 0.25 | $ 0.25 |
Common stock, shares authorized (in shares) | 750,000,000 | 750,000,000 |
Common stock, shares issued (in shares) | 482,603,937 | 399,176,425 |
Common stock, shares outstanding (in shares) | 482,603,937 | 399,176,425 |
Treasury stock, shares (in shares) | 5,226,791 | 4,529,450 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Sales of products | $ 567,137 | $ 577,775 | $ 645,957 | |
Cost of sales and other direct production costs | 353,994 | 304,727 | 338,325 | |
Depreciation, depletion and amortization | [1] | 134,044 | 120,599 | 123,631 |
Total cost of sales | 488,038 | 425,326 | 461,956 | |
Gross profit | 79,099 | 152,449 | 184,001 | |
Other operating expenses: | ||||
General and administrative | 36,542 | 35,611 | 45,040 | |
Exploration | 35,695 | 23,510 | 14,720 | |
Pre-development | 4,887 | 5,448 | 3,137 | |
Research and development | 5,441 | 3,276 | 243 | |
Provision for closed operations and environmental matters | 6,119 | 6,701 | 5,721 | |
Other operating expense | 1,596 | 2,513 | 3,153 | |
(Gain) loss on disposition of properties, plants, equipment and mineral interests | (2,793) | (6,042) | (147) | |
Suspension-related costs | 20,693 | 21,301 | ||
Acquisition costs | 10,045 | 25 | 2,695 | |
Total other operating expense | 118,225 | 92,343 | 74,562 | |
Income (loss) from operations | [1] | (39,126) | 60,106 | 109,439 |
Other income (expense): | ||||
Gain (loss) on derivative contracts | 40,253 | (21,250) | 4,423 | |
Loss on disposition of investments | (34) | (166) | ||
Unrealized loss on investments | (2,816) | (251) | (177) | |
Net foreign exchange (loss) gain | 10,310 | (9,680) | (2,737) | |
Other (expense) income | (907) | 1,692 | 507 | |
Interest expense, net of amount capitalized | (40,944) | (38,012) | (21,796) | |
Total other income (expense): | 5,862 | (67,663) | (19,780) | |
(Loss) income before income taxes | (33,264) | (7,557) | 89,659 | |
Income tax benefit (provision) | 6,701 | (20,963) | (28,090) | |
Net income (loss) | (26,563) | (28,520) | 61,569 | |
Preferred stock dividends | (552) | (552) | (552) | |
(Loss) income applicable to common stockholders | (27,115) | (29,072) | 61,017 | |
Comprehensive (loss) income: | ||||
Net income (loss) | (26,563) | (28,520) | 61,569 | |
Unrealized gain (loss) and amortization of prior service on pension plans | (1,550) | (1,326) | 676 | |
Unrealized gain (loss) on derivative contracts designated as hedge transactions | (13,814) | 10,290 | (5,260) | |
Unrealized holding gains (losses) on investments | (2,443) | 2,098 | 1,613 | |
Reclassification of disposition or impairment of investments included in net (loss) income | 167 | 1,000 | ||
Total change in accumulated other comprehensive (loss) income, net | (17,807) | 11,229 | (1,971) | |
Comprehensive (loss) income | $ (44,370) | $ (17,291) | $ 59,598 | |
Basic (loss) income per common share after preferred dividends (in dollars per share) | $ (0.06) | $ (0.07) | $ 0.16 | |
Diluted (loss) income per common share after preferred dividends (in dollars per share) | $ (0.06) | $ (0.07) | $ 0.16 | |
Weighted average number of common shares outstanding – basic (in shares) | 433,419 | 397,394 | 386,416 | |
Weighted average number of common shares outstanding – diluted (in shares) | 433,419 | 397,394 | 389,322 | |
[1] | Amounts reported as of and for the years ended December 31, 2017 and 2016 have been revised. See Note 2 for more information. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating activities: | |||
Net income (loss) | $ (26,563) | $ (28,520) | $ 61,569 |
Non-cash elements included in net (loss) income: | |||
Depreciation, depletion and amortization | 140,905 | 126,467 | 124,918 |
Loss on disposition of investments | 167 | ||
Unrealized loss on investments | 2,816 | 251 | 177 |
Adjustment of inventory to market value | 8,191 | 811 | |
(Gain) loss on disposition of properties, plants, equipment and mineral interests | (2,793) | (6,042) | (147) |
Provision for reclamation and closure costs | 6,090 | 4,508 | 4,813 |
Deferred income taxes | (9,699) | 19,392 | 2,774 |
Stock compensation | 6,278 | 6,323 | 6,184 |
Acquisition costs | 1,048 | ||
Amortization of loan origination fees | 2,077 | 1,864 | 1,871 |
(Gain) loss on derivative contracts | (15,366) | 20,741 | (5,494) |
Foreign exchange (gain) loss | (7,104) | 10,208 | 4,460 |
Other non-cash items | (32) | 51 | (174) |
Change in assets and liabilities, net of business acquired: | |||
Accounts receivable | 9,843 | (2,414) | 4,233 |
Inventories | (27,512) | (3,744) | (5,697) |
Other current and non-current assets | (1,726) | (11,595) | 14,422 |
Accounts payable and accrued liabilities | 17,795 | (16,434) | (6,539) |
Accrued payroll and related benefits | (2,425) | 2,092 | 17,705 |
Accrued taxes | 645 | (2,234) | 263 |
Accrued reclamation and closure costs and other non-current liabilities | (7,199) | (5,203) | (1,869) |
Net cash provided by operating activities | 94,221 | 115,878 | 225,328 |
Investing activities: | |||
Additions to properties, plants, equipment and mineral interests | (136,933) | (98,038) | (164,788) |
Proceeds from disposition of properties, plants and equipment | 2,411 | 374 | 348 |
Insurance proceeds received for damaged property | 4,377 | 7,745 | |
Purchases of investments | (31,971) | (56,613) | (48,943) |
Maturities of investments | 64,895 | 49,969 | 18,649 |
Purchase of other companies, net of cash and restricted cash acquired | (139,326) | (2,730) | |
Net cash used in investing activities | (236,547) | (96,563) | (197,464) |
Financing activities: | |||
Proceeds from issuance of common stock, net of offering costs | 6,744 | 9,610 | 8,121 |
Dividends paid to common stockholders | (4,393) | (3,976) | (3,867) |
Dividend paid to preferred stockholders | (552) | (552) | (552) |
Debt issuance and credit facility fees paid | (2,638) | (476) | (127) |
Acquisition of treasury shares | (2,694) | (2,868) | (4,440) |
Borrowings under debt arrangements | 102,024 | ||
Repayments of debt | (106,036) | (470) | (2,721) |
Repayments of capital leases | (7,339) | (6,516) | (8,435) |
Net cash used in financing activities | (14,884) | (5,248) | (12,021) |
Effect of exchange rates on cash | (1,515) | 1,095 | (74) |
Net (decrease) increase in cash, cash equivalents and restricted cash and cash equivalents | (158,725) | 15,162 | 15,769 |
Cash, cash equivalents and restricted cash and cash equivalents at beginning of year | 187,139 | 171,977 | 156,208 |
Cash, cash equivalents and restricted cash and cash equivalents at end of year | 28,414 | 187,139 | 171,977 |
Supplemental disclosure of cash flow information: | |||
Common stock and warrants issued for acquisition of other companies | 252,544 | 48,109 | |
Capital leases acquired | 7,008 | 6,439 | 2,297 |
Common stock contributed to pension plans | 7,595 | 7,687 | |
Payment of accrued compensation in restricted stock units | 4,863 | 4,240 | 5,511 |
Cash received (paid) during year for: | |||
Interest, net of amount capitalized | (38,400) | (35,624) | (19,280) |
Income tax (payments) receipts | $ 115 | $ (23,128) | $ (6,333) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2015 | $ 39 | $ 95,219 | $ 1,519,598 | $ (242,191) | $ (32,631) | $ (10,734) | $ 1,329,300 |
Net income (loss) | 61,569 | 61,569 | |||||
Stock issued to directors | 47 | 756 | 803 | ||||
Common stock issued for cash, net of offering costs | 695 | 7,426 | 8,121 | ||||
Series B Preferred Stock dividends declared | (552) | (552) | |||||
Stock issued for 401(k) match | 282 | 3,236 | 3,518 | ||||
Restricted stock units granted | 5,128 | 5,128 | |||||
Restricted stock unit distributions | 348 | (348) | (2,211) | (2,211) | |||
Common stock issued to pension plans | 457 | 7,230 | 7,687 | ||||
Common stock issued for purchase of another company | 2,213 | 48,998 | 959 | 50,252 | |||
Common stock issued for purchase of another company | (2,213) | (48,998) | (959) | (50,252) | |||
Common stock dividends declared | (3,867) | (3,867) | |||||
Common stock issued for employee incentive compensation | 545 | 5,188 | (1,270) | 4,463 | |||
Change, net of tax | (1,971) | (1,971) | |||||
Balance at Dec. 31, 2016 | 39 | 99,806 | 1,597,212 | (185,041) | (34,602) | (15,174) | 1,462,240 |
Net income (loss) | (28,520) | (28,520) | |||||
Stock issued to directors | 47 | 735 | 782 | ||||
Common stock issued for cash, net of offering costs | 457 | 9,154 | 9,611 | ||||
Series B Preferred Stock dividends declared | (552) | (552) | |||||
Stock issued for 401(k) match | 170 | 3,379 | 3,549 | ||||
Restricted stock units granted | 5,550 | 5,550 | |||||
Restricted stock unit distributions | 313 | (321) | (2,199) | (2,207) | |||
Common stock dividends declared | (3,976) | (3,976) | |||||
Common stock issued for employee incentive compensation | 133 | 4,107 | (669) | 3,571 | |||
Change, net of tax | 11,229 | 11,229 | |||||
Balance at Dec. 31, 2017 | 39 | 100,926 | 1,619,816 | (218,089) | (23,373) | (18,042) | 1,461,277 |
Net income (loss) | (26,563) | (26,563) | |||||
Stock issued to directors | 40 | 553 | 593 | ||||
Common stock issued for cash, net of offering costs | 641 | 6,105 | 6,746 | ||||
Series B Preferred Stock dividends declared | (552) | (552) | |||||
Stock issued for 401(k) match | 267 | 3,438 | 3,705 | ||||
Restricted stock units granted | 5,649 | 5,649 | |||||
Restricted stock unit distributions | 270 | (270) | (1,386) | (1,386) | |||
Common stock issued to pension plans | 684 | 6,911 | 7,595 | ||||
Common stock issued for purchase of another company | 18,819 | 233,725 | 252,544 | ||||
Common stock issued for purchase of another company | (18,819) | (233,725) | (252,544) | ||||
Common stock dividends declared | (4,393) | (4,393) | |||||
Common stock issued for employee incentive compensation | 309 | 4,554 | (1,308) | 3,555 | |||
Change, net of tax | (17,807) | (17,807) | |||||
Change in accounting for marketable equity securities | 1,289 | (1,289) | |||||
Balance at Dec. 31, 2018 | $ 39 | $ 121,956 | $ 1,880,481 | $ (248,308) | $ (42,469) | $ (20,736) | $ 1,690,963 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Common Stock [Member] | |||
Stock issued to directors, shares (in shares) | 162,000 | 187,000 | 189,000 |
Common stock issued for cash, shares (in shares) | 2,565,000 | 1,829,000 | 2,780,000 |
Stock issued for 401(k) match, shares (in shares) | 1,068,000 | 678,000 | 1,128,000 |
Restricted stock unit distributions, shares (in shares) | 1,079,000 | 1,251,000 | 1,390,000 |
Common stock issued to pension plans, shares (in shares) | 2,736,000 | 1,827,000 | |
Common stock issued for purchase of another company, shares (in shares) | 75,276,000 | 8,852,000 | |
Common stock dividends declared, per common share (in dollars per share) | $ 0.01 | $ 0.01 | |
Common stock issued for employee incentive compensation, shares (in shares) | 1,237,000 | 533,000 | 2,185,000 |
Retained Earnings [Member] | |||
Common stock dividends declared, per common share (in dollars per share) | $ 0.01 | ||
Common stock issued for cash, shares (in shares) | 2,564,767 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 1: A. Principles of Consolidation — In the third 2018, June 1, 2013 June 30, 2018. Note 2 B. Assumptions and Use of Estimates — may C. Cash and Cash Equivalents — three D. Investments — Gains and losses on the sale of securities are recognized on a specific identification basis. Unrealized gains and losses are included in a separate line item on our consolidated statements of operations and comprehensive income. E. Inventories — Stockpiled ore inventory represents ore that has been mined, hauled to the surface, and is available for further processing. Stockpiles are measured by estimating the number of tons added and removed from the stockpile, the amount of contained metal ounces or pounds (based on assay data) and the estimated metallurgical recovery rates (based on the expected processing method). Costs are allocated to a stockpile based on relative values of material stockpiled and processed using current mining costs incurred up to the point of stockpiling the ore, including applicable overhead, depreciation, depletion and amortization relating to mining operations, and removed at each stockpile’s average cost per recoverable unit. Finished goods inventory includes doré and concentrates at our operations, doré in transit to refiners or at refiners waiting to be processed, and bullion in our accounts at refineries. F. Restricted Cash — $1.0 December 31, 2018. G. Properties, Plants and Equipment The cost of removing overburden and waste materials to access the ore body at an open-pit mine prior to the production stage are referred to as "pre-stripping costs." Pre-stripping costs are capitalized during the development stage. Where multiple open pits exist at an operation utilizing common facilities, pre-stripping costs are capitalized at each pit. The production stage of a mine commences when salable materials, beyond a de minimis amount, are produced. Stripping costs incurred during the production stage are treated as variable production costs included as a component of inventory, to be recognized in cost of sales and other direct production costs in the same period as the revenue from the sale of inventory. Costs for exploration, pre-development, secondary development at operating mines, including drilling costs related to those activities (discussed further below), and maintenance and repairs on capitalized properties, plants and equipment are charged to operations as incurred. Exploration costs include those relating to activities carried out (a) in search of previously unidentified mineral deposits, (b) at undeveloped concessions, or (c) at operating mines already containing proven and probable reserves, where a determination remains pending as to whether new target deposits outside of the existing reserve areas can be economically developed. Pre-development activities involve costs incurred in the exploration stage that may not Drilling, development and related costs are either classified as exploration, pre-development or secondary development, as defined above, and charged to operations as incurred, or capitalized, based on the following criteria: • whether the costs are incurred to further define mineralization at and adjacent to existing reserve areas or intended to assist with mine planning within a reserve area; • whether the drilling or development costs relate to an ore body that has been determined to be commercially mineable, and a decision has been made to put the ore body into commercial production; and • whether, at the time the cost is incurred: (a) the expenditure embodies a probable future benefit that involves a capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflows, (b) we can obtain the benefit and control others’ access to it, and (c) the transaction or event giving rise to our right to or control of the benefit has already occurred. If all of these criteria are met, drilling, development and related costs are capitalized. Drilling and development costs not not • completion of a favorable economic study and mine plan for the ore body targeted; • authorization of development of the ore body by management and/or the board of directors; and • there is a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues and/or contractual requirements necessary for us to have the right to or control of the future benefit from the targeted ore body have been met. Drilling and related costs of approximately $11.6 $9.9 $6.8 December 31, 2018, 2017 2016, When assets are retired or sold, the costs and related allowances for depreciation and amortization are eliminated from the accounts and any resulting gain or loss is reflected in current period net income (loss). Idle facilities placed on standby are carried at the lower of net carrying value or estimated fair value. The net carrying values of idle facilities on standby are written down to salvage value upon reaching the end of the economic life. Therefore, with the exception of depreciation recorded on mobile equipment used in ongoing exploration and reclamation efforts at such properties, we do not not Included in properties, plants, equipment and mineral interests on our consolidated financial statements are mineral interests, which are tangible assets that include acquired undeveloped mineral interests and royalty interests. Undeveloped mineral interests include: (i) mineralized material and other resources which are measured, indicated or inferred with insufficient drill spacing or quality to qualify as proven and probable reserves; and (ii) inferred material not We capitalize portions of interest costs incurred on our debt as a part of the cost of constructing or acquiring certain qualifying assets. The amount of interest capitalized represents the portion of interest cost incurred during the construction or acquisition periods that theoretically could have been avoided if expenditures for the qualifying assets had not third H. Depreciation, Depletion and Amortization — 3 17 not may Undeveloped mineral interests and value beyond proven and probable reserves are not I. Impairment of Long-lived Assets — may not Although management has made what it believes to be a reasonable estimate of factors based on current conditions and information, assumptions underlying future cash flows are subject to significant risks and uncertainties. Estimates of undiscounted future cash flows are dependent upon, among other factors, estimates of: (i) metals to be recovered from proven and probable ore reserves and, to some extent, identified mineralization and other resources beyond proven and probable reserves, (ii) future production and capital costs and (iii) estimated metals prices (considering current and historical prices, forward pricing curves and related factors) over the estimated remaining mine life. It is reasonably possible that changes could occur in the near term that could adversely affect our estimate of future cash flows to be generated from our operating properties. If estimated undiscounted cash flows are less than the carrying value of a property, an impairment loss is recognized for the difference between the carrying value and fair value of the property. J. Proven and Probable Ore Reserves — 2016 2017. 2016. Reserve estimates will change as existing reserves are depleted through production, and as market prices of metals, production or capital costs, smelter terms, the grade or tonnage of the deposit, dilution of the ore or recovery rates change. A significant drop in metals prices or other factors may may may may If our realized price for the metals we produce were to decline substantially below the levels set for calculation of reserves for an extended period, there could be material delays in the development of new projects, net losses, reduced cash flow, restatements or reductions in reserves and asset write-downs in the applicable accounting periods. Reserves should not No K. Pension Plans and Other Post-retirement Benefits — • recognize the funded or underfunded status of our defined benefit plans in our consolidated financial statements; and • recognize as a component of other comprehensive income (loss) the actuarial gains and losses and prior service costs and credits that arise during the period but are not See Note 9 L. Income and Production Taxes — We evaluate uncertain tax positions in a two not not 50% We classify mine license taxes incurred in the states of Alaska and Idaho as other direct production costs reported in our gross profits. Net proceeds taxes incurred in Nevada, mining duties in Mexico, and resource taxes incurred in Quebec, Canada are classified as income taxes. For additional information, see Note 6 M. Reclamation and Remediation Costs (Asset Retirement Obligations) — At our non-operating properties, we accrue costs associated with environmental remediation obligations when it is probable that such costs will be incurred and they are reasonably estimable. Accruals for estimated losses from environmental remediation obligations have historically been recognized no not Future closure, reclamation and environmental-related expenditures are difficult to estimate in many circumstances, due to the early stage nature of investigations, uncertainties associated with defining the nature and extent of environmental contamination, the application of laws and regulations by regulatory authorities, and changes in reclamation or remediation technology. We periodically review accrued liabilities for such reclamation and remediation costs as evidence becomes available indicating that our liabilities have potentially changed. Changes in estimates at our non-operating properties are reflected in current period net income (loss). It is reasonably possible the ultimate cost of reclamation and remediation could change in the future, and that changes to these estimates could have a material effect on future operating results as new information becomes known. N. Revenue Recognition and Trade Accounts Receivable — P. Risk Management Contracts Refining, selling and shipping costs related to sales of doré and metals from doré are recorded to cost of sales as incurred. Sales and accounts receivable for concentrate shipments are recorded net of charges by the customers for treatment, refining, smelting losses, and other charges negotiated by us with the customers. Charges are estimated by us upon shipment of concentrates based on contractual terms, and actual charges typically do not Changes in the market price of metals significantly affect our revenues, profitability, and cash flow. Metals prices can and often do fluctuate widely and are affected by numerous factors beyond our control, such as political and economic conditions, demand, forward selling by producers, aggregation by metals speculators and others, expectations for inflation, central bank sales, custom smelter activities, the relative exchange rate of the U.S. dollar, investor sentiment, and global mine production levels. The aggregate effect of these factors is impossible to predict. Because our revenue is derived from the sale of silver, gold, lead, and zinc, our earnings are directly related to the prices of these metals. See Note 12 O. Foreign Currency — P. Risk Management Contracts For the year ended December 31, 2018 $10.3 December 31, 2017 2016, $9.7 $2.7 P. Risk Management Contracts — not no December 31, 2018, not December 31, 2018, See Note 11 December 31, 2018. Q. Stock Based Compensation — no For additional information on our restricted stock unit compensation, see Note 10. R. Legal Costs – S. Basic and Diluted Income (Loss) Per Common Share — Potential dilutive shares of common stock include outstanding unvested restricted stock awards, performance-based share awards, stock units, warrants and convertible preferred stock for periods in which we have reported net income. For periods in which we reported net losses, potential dilutive shares of common stock are excluded, as their conversion and exercise would be anti-dilutive. See Note 14 T. Comprehensive Income (Loss) — U. Fair Value Measurements — 1. the fair value measurement; 2. the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1 2 3 3. for fair value measurements using significant unobservable inputs (Level 3 a. total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings, and a description of where those gains or losses included in earnings are reported in the statement of operations; b. the amount of these gains or losses attributable to the change in unrealized gains or losses relating to those assets or liabilities still held at the reporting period date and a description of where those unrealized gains or losses are reported; c. purchases, sales, issuances, and settlements (net); and d. transfers into and/or out of Level 3. 4. the amount of the total gains or losses for the period included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of operations; and 5. in annual periods only, the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period. See Notes 9 13 V. Research and development — December 31, 2018, 2017 2016 W. New Accounting Pronouncements — Accounting Standards Updates Adopted In May 2014, No. 2014 09 605 10 five August 2015, No. 2015 14 606 No. 2015 14 No. 2014 09 December 15, 2017. No. 2014 09 January 1, 2018 December 31, 2017 December 31, 2016 $1.9 $1.3 We performed an assessment of the impact of implementation of ASU No. 2014 09, not not Our concentrate sales involve variable consideration, as they are subject to changes in metals prices between the time of shipment and their final settlement. However, we are able to reasonably estimate the transaction price for the concentrate sales at the time of shipment using forward prices for the month of settlement, and we then adjust the values each period until final settlement. Also, it is unlikely a significant reversal of revenue for any one Adoption of ASU No. 2014 09 Note 12 In January 2016, No. 2016 01 825 10 not December 15, 2017. No. 2016 01 January 1, 2018 $1.3 In August 2016, No. 2016 15 230 eight December 15, 2017, January 1, 2018, no In November 2016, No. 2016 18 230 December 15, 2017, January 1, 2018. $1.0 December 31, 2018 December 31, 2017, $2.2 December 31, 2016 $1.0 December 31, 2015, In January 2017, No. 2017 01 805 December 15, 2017, July 2018 ( Note 16 In March 2017, No. 2017 07 715 December 15, 2017, January 1, 2018. 2018, $2.8 not Accounting Standards Updates to Become Effective in Future Periods In February 2016, No. 2016 02 842 December 15, 2018, See Note 10 December 31, 2018. Upon implementation of the new guidance, we anticipate recognizing a liability and right-of-use asset of approximately $22.4 January 1, 2019 In August 2017, No. 2017 12 815 December 15, 2018, not In February 2018, No. 2018 02 220 December 15, 2018, $12.6 December 31, 2018. In June 2018, No. 2018 07 718 718 December 15, 2018, not In August 2018, No. 2018 13 820 December 15, 2019, In August 2018, No. 2018 14 715 20 two December 15, 2020, |
Note 2 - Revision of Previously
Note 2 - Revision of Previously Issued Financial Statements for Immaterial Misstatements | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Accounting Changes and Error Corrections [Text Block] | Note 2. In the third 2018, June 1, 2013 June 30, 2018 i. understatement of DDA by approximately $35.5 5 1/2 June 1, 2013 0.9646 June 1, 2013 June 30, 2018. ii. overstatement of DDA of approximately $14.2 5 1/2 not January 1, 2014 June 30, 2018 We assessed the materiality of the effect of the errors on our prior quarterly and annual financial statements, both quantitatively and qualitatively, in accordance with the SEC’s Staff Accounting Bulletin ("SAB") No. 99, No. 108, not third 2018, no The following tables present a summary of the impact, by financial statement line item, of the Revisions as of and for the years ended December 31, 2017 2016, January 1, 2016: As of and for the Year Ended December 31, 2017 (in thousands) As Previously Reported Adjustment As Revised Condensed Consolidated Balance Sheet Inventories: Concentrate, doré, and stockpiled ore $ 28,455 $ 911 $ 29,366 Total current assets 320,325 911 321,236 Properties, plants, equipment and mineral interests, net 2,020,021 (20,710 ) 1,999,311 Total assets 2,364,957 (19,799 ) 2,345,158 Deferred tax liability 121,546 2,806 124,352 Total liabilities 881,075 2,806 883,881 Accumulated deficit (195,484 ) (22,605 ) (218,089 ) Total shareholders' equity 1,483,882 (22,605 ) 1,461,277 Total liabilities and shareholders' equity 2,364,957 (19,799 ) 2,345,158 Consolidated Statements of Operations and Comprehensive (Loss) Income Depreciation, depletion and amortization $ 116,062 $ 4,537 $ 120,599 Total cost of sales 420,789 4,537 425,326 Gross profit 156,986 (4,537 ) 152,449 Income (loss) from operations 64,643 (4,537 ) 60,106 Foreign exchange (loss) gain (10,300 ) 620 (9,680 ) Total other (expense) income (68,283 ) 620 (67,663 ) (Loss) income before income taxes (3,640 ) (3,917 ) (7,557 ) Income tax (provision) benefit (19,879 ) (1,084 ) (20,963 ) Net (loss) income $ (23,519 ) $ (5,001 ) $ (28,520 ) (Loss) income applicable to common shareholders $ (24,071 ) $ (5,001 ) $ (29,072 ) Comprehensive income (loss) (12,290 ) (5,001 ) (17,291 ) Basic (loss) income per common share after preferred dividends $ (0.06 ) $ (0.01 ) $ (0.07 ) Diluted (loss) income per common share after preferred dividends $ (0.06 ) $ (0.01 ) $ (0.07 ) Condensed Consolidated Statements of Cash Flows Net (loss) income $ (23,519 ) $ (5,001 ) $ (28,520 ) Depreciation, depletion and amortization 121,930 4,537 126,467 Foreign exchange loss (gain) 10,828 (620 ) 10,208 Deferred income taxes 18,308 1,084 19,392 As of and for the Year Ended December 31, 2016 (in thousands) As Previously Reported Adjustment As Revised Condensed Consolidated Balance Sheet Accumulated deficit $ (167,437 ) $ (17,604 ) $ (185,041 ) Total shareholders' equity 1,479,844 (17,604 ) 1,462,240 Consolidated Statements of Operations and Comprehensive (Loss) Income Depreciation, depletion and amortization 116,126 7,505 123,631 Total cost of sales 454,451 7,505 461,956 Gross profit 191,506 (7,505 ) 184,001 Income (loss) from operations 116,944 (7,505 ) 109,439 Foreign exchange (loss) gain (2,926 ) 189 (2,737 ) Total other (expense) income (19,969 ) 189 (19,780 ) (Loss) income before income taxes 96,975 (7,316 ) 89,659 Income tax (provision) benefit (27,428 ) (662 ) (28,090 ) Net (loss) income $ 69,547 $ (7,978 ) $ 61,569 (Loss) income applicable to common shareholders $ 68,995 $ (7,978 ) $ 61,017 Comprehensive income (loss) 67,576 (7,978 ) 59,598 Basic (loss) income per common share after preferred dividends $ 0.18 $ (0.02 ) $ 0.16 Diluted (loss) income per common share after preferred dividends $ 0.18 $ (0.02 ) $ 0.16 Condensed Consolidated Statements of Cash Flows Net (loss) income $ 69,547 $ (7,978 ) $ 61,569 Depreciation, depletion and amortization 117,413 7,505 124,918 Foreign exchange loss (gain) 4,649 (189 ) 4,460 Deferred income taxes 2,112 662 2,774 As of January 1, 2016 (in thousands) As Previously Reported Adjustment As Revised Consolidated Statements of Changes in Shareholders' Equity Accumulated deficit $ (232,565 ) $ (9,626 ) $ (242,191 ) Total shareholders' equity 1,338,926 (9,626 ) 1,329,300 |
Note 3 - Investments
Note 3 - Investments | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Investments and Restricted Cash Disclosure [Text Block] | Note 3. Investments Our current investments, which are classified as "available for sale" and consist of bonds having maturities of greater than 90 $33.8 December 31, 2017. no December 31, 2018. 2018 2017, $31.2 $55.0 $64.9 $50.0 December 31, 2017 December 31, 2017 Amortized cost Unrealized loss Fair market value Corporate bonds $ 33,778 $ (20 ) $ 33,758 At December 31, 2018 2017, $6.6 $7.6 $7.7 $5.7 December 31, 2018 2017, 2018 2017, $2.4 $1.6 2018, $2.8 2017, $2.1 $0.2 |
Note 4 - Properties, Plants, Eq
Note 4 - Properties, Plants, Equipment and Mineral Interests, and Lease Commitments | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 4: Properties, Plants, Equipment and Mineral Interests Our major components of properties, plants, equipment, and mineral interests are (in thousands): December 31, 2018 2017 Revised Mining properties, including asset retirement obligations $ 533,631 $ 404,905 Development costs 444,229 390,094 Plants and equipment 988,285 847,462 Land 32,953 26,949 Mineral interests 1,269,956 957,359 Construction in progress 365,807 347,323 3,634,861 2,974,092 Less accumulated depreciation, depletion and amortization 1,114,857 974,781 Net carrying value $ 2,520,004 $ 1,999,311 During 2018, $136.9 $14.2 $40.9 $39.7 $6.2 $32.6 Mineral interests include amounts for value beyond proven and probable reserves ("VBPP") related to mines and exploration or pre-development interests acquired by us which are not December 31, 2018, $396.4 $382.1 $223.4 Properties, plants, equipment, and mineral interests includes the portion of interest costs incurred on our debt capitalized as a part of the cost of constructing certain qualifying assets. For the year ended December 31, 2017, $0.9 #4 January 2017. Capital Leases We periodically enter into lease agreements, primarily for equipment at our operating units, which we have determined to be capital leases. As of December 31, 2018 2017, $58.4 $48.6 $38.4 $33.1 Properties, plants, equipment and mineral interests Note 7 Operating Leases We enter into operating leases during the normal course of business. During the years ended December 31, 2018, 2017 2016, $7.8 $4.8 $4.8 December 31, 2018, Year ending December 31, 2019 $ 7,919 2020 5,530 2021 3,578 2022 2,543 2023 2,182 Thereafter 1,397 Total $ 23,149 |
Note 5 - Environmental and Recl
Note 5 - Environmental and Reclamation Activities | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Environmental and Reclamation Activities [Text Block] | Note 5: The liabilities accrued for our reclamation and closure costs at December 31, 2018 2017 2018 2017 Operating properties: Greens Creek $ 41,839 $ 41,677 Lucky Friday 10,698 9,911 Casa Berardi 5,843 6,729 San Sebastian 7,765 5,067 Nevada Operations 23,272 — Non-operating properties: Troy mine 8,971 12,724 Johnny M 5,813 5,813 Republic 1,500 1,500 All other sites 2,688 2,624 Total 108,389 86,045 Reclamation and closure costs, current (3,410 ) (6,679 ) Reclamation and closure costs, long-term $ 104,979 $ 79,366 The activity in our accrued reclamation and closure cost liability for the years ended December 31, 2018, 2017 2016 Balance at January 1, 2016 $ 95,538 Accruals for estimated costs 705 Accretion expense 3,158 Revision of estimated cash flows due to changes in reclamation plans 2,759 Liability addition due to acquisition of Mines Management 1,124 Payment of reclamation obligations (17,704 ) Balance at December 31, 2016 85,580 Accruals for estimated costs 16 Accretion expense 4,870 Revision of estimated cash flows due to changes in reclamation plans (578 ) Payment of reclamation obligations (3,843 ) Balance at December 31, 2017 86,045 Accruals for estimated costs 250 Accretion expense 5,309 Revision of estimated cash flows due to changes in reclamation plans 1,280 Liability addition due to acquisition of the Nevada Operations unit 19,571 Payment of reclamation obligations (4,066 ) Balance at December 31, 2018 $ 108,389 On each of June 15, 2016 September 19, 2016, $6 August 2016 $3.9 November 2016 $6.7 second 2015 $9.9 Asset Retirement Obligations Below is a reconciliation as of December 31, 2018 2017 $108.4 $86.0 5.75% 14.5% 2018 2017 Balance January 1 $ 63,384 $ 59,275 Changes in obligations due to changes in reclamation plans 1,280 (578 ) Addition due to acquisition of the Nevada Operations unit 19,571 — Accretion expense 5,295 4,870 Payment of reclamation obligations (113 ) (183 ) Balance at December 31 $ 89,417 $ 63,384 In the fourth 2018, $114.9 $100.1 $3.2 In the fourth 2018, $2.8 $2.3 In the fourth 2018, $1.3 $3.1 The ARO layers related to the changes described above were discounted using a credit adjusted, risk-free interest rate of 7.5% 2% 4%. |
Note 6 - Income Taxes
Note 6 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 6: Major components of our income tax benefit (provision) for the years ended December 31, 2018, 2017 2016 2018 2017 2016 Revised Revised Current: Domestic $ (454 ) $ 22,171 $ (10,702 ) Foreign (4,382 ) (22,526 ) (13,713 ) Total current income tax benefit (provision) (4,836 ) (355 ) (24,415 ) Deferred: Domestic 7,147 (30,766 ) 7,480 Foreign 4,390 10,158 (11,155 ) Total deferred income tax benefit (provision) 11,537 (20,608 ) (3,675 ) Total income tax benefit (provision) $ 6,701 $ (20,963 ) $ (28,090 ) Domestic and foreign components of (loss) income before income taxes for the years ended December 31, 2018, 2017 2016 2018 2017 2016 Revised Revised Domestic $ (44,513 ) $ (7,920 ) $ 41,014 Foreign 11,249 363 48,645 Total $ (33,264 ) $ (7,557 ) $ 89,659 The annual tax benefit (provision) is different from the amount that would be provided by applying the statutory federal income tax rate to our pretax (loss) income. The reasons for the difference are (in thousands): 2018 2017 2016 Revised Revised Computed “statutory” benefit (provision) $ 6,986 (21 )% $ 2,645 35 % $ (31,381 ) 35 % Percentage depletion 3,158 (10 ) 5,174 68 8,114 (9 ) Change in valuation allowance (2,304 ) 7 24,464 324 11,336 (13 ) Federal rate change — — (37,546 ) (497 ) — — State taxes, net of federal taxes (849 ) 3 1,112 15 (565 ) — Foreign currency remeasurement of monetary assets and liabilities 6,747 (20 ) (12,812 ) (169 ) (7,820 ) 9 Rate differential on foreign earnings (3,970 ) 12 (1,438 ) (19 ) (6,853 ) 8 Compensation (970 ) 3 (661 ) (9 ) (1,517 ) 2 Foreign withholding taxes 278 (1 ) (278 ) (4 ) — — Expiration of U.S. foreign tax credits — — (2,300 ) (30 ) — — Other (2,375 ) 7 677 9 596 (1 ) Total benefit (provision) $ 6,701 (20 )% $ (20,963 ) (277 )% $ (28,090 ) 31 % On January 1, 2017 No. 2015 17 740 $12.3 $1.3 At December 31, 2018 2017, $172 $123 December 31, 2018 2017 Revised Deferred tax assets: Accrued reclamation costs $ 29,064 $ 21,812 Deferred exploration 16,500 17,426 Foreign net operating losses 13,231 1,003 Domestic net operating losses 152,320 130,186 AMT credit carryforwards — 584 Pension and benefit obligation 12,345 12,584 Foreign exchange loss 24,849 18,112 Foreign tax credit carryforward 4,149 4,983 Miscellaneous 26,290 25,411 Total deferred tax assets 278,748 232,101 Valuation allowance (94,981 ) (78,684 ) Total deferred tax assets 183,767 153,417 Deferred tax liabilities: Miscellaneous (5,234 ) (4,978 ) Properties, plants and equipment (350,083 ) (271,282 ) Total deferred tax liabilities (355,317 ) (276,260 ) Net deferred tax liability $ (171,550 ) $ (122,843 ) For the year 2017, $0.3 no 2016, no As discussed in Note 16 July 2018. not $69.4 2018, $6.3 $30.0 382. not We evaluated the positive and negative evidence available to determine the amount of valuation allowance required on our deferred tax assets. At December 31, 2018 2017, $95 $79 December 31, 2017 not not December 31, 2018. 2017 not December 31, 2018, $92.0 $1.3 $1.7 no December 31, 2018, 2017 2016, 2018 2017 2016 Balance at beginning of year $ (78,684 ) $ (99,602 ) $ (115,806 ) Valuation allowance on deferred tax assets acquired with the Klondex acquisition (11,470 ) — — Increase related to non-utilization of net operating loss carryforwards and non-recognition of deferred tax assets due to uncertainty of recovery (5,700 ) (14,964 ) (2,868 ) Decrease related to utilization and expiration of deferred tax assets, other 873 35,882 19,072 Balance at end of year $ (94,981 ) $ (78,684 ) $ (99,602 ) As of December 31, 2018, $605.9 $383.3million, December 31, 2017 20 2020. 2018 $50.0 2028 2038. may 382. December 31, 2018, no In 2017, 2016 09 $5 no We file income tax returns in the U.S. federal jurisdiction, various state and foreign jurisdictions. We are no 2000, 2012. not We had no December 31, 2018 2017. not not 12 On December 22, 2017, December 31, 2017. December 31, 2017, 35% 21% $30 December 31, 2017, 35% 21% not one |
Note 7 - Debt, Credit Facilitie
Note 7 - Debt, Credit Facilities and Capital Leases | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 7: Senior Notes On April 12, 2013, $500 May 1, 2021 144A 1933, 2014, $6.5 one April 12, 2013, $490 The Senior Notes are recorded net of a 2% $10 April 2013 $3.0 December 31, 2018. 6.875% May 1 November 1 November 1, 2013. 2018, 2017 2016, $36.3 $35.3 $20.1 2017 2016 $0.9 $16.2 #4 January 2017. 2017 $0.9 June 2017 not The Senior Notes are guaranteed on a senior unsecured basis by certain of our subsidiaries (the "Guarantors"). The Senior Notes and the guarantees are, respectively, Hecla's and the Guarantors' general senior unsecured obligations and are subordinated to all of Hecla's and the Guarantors' existing and future secured debt to the extent of the assets securing that secured debt. In addition, the Senior Notes are effectively subordinated to all of the liabilities of Hecla's subsidiaries that are not no The Senior Notes became redeemable in whole or in part, at any time and from time to time after May 1, 2016, Upon the occurrence of a change of control (as defined in the Indenture), each holder of Senior Notes will have the right to require us to purchase all or a portion of such holder's Senior Notes pursuant to a change of control offer (as defined in the Indenture), at a purchase price equal to 101% Ressources Québec Notes On March 5, 2018, CAD$40 USD$30.8 2018 May 1, 2021 ( 0.58%, CAD$0.2 4.68% May 1 November 1 May 1, 2018. no 2018, $1.4 As of December 31, 2018, Twelve-month period ending December 31, Senior Notes RQ Notes Total 2019 $ 34,822 $ 1,372 $ 36,194 2020 34,822 1,372 $ 36,194 2021 518,107 29,778 $ 547,885 Total 587,751 32,522 620,273 Less: interest (81,251 ) (3,202 ) $ (84,453 ) Principal 506,500 29,320 535,820 Less: unamortized discount (3,021 ) — $ (3,021 ) Long-term debt $ 503,479 $ 29,320 $ 532,799 Credit Facilities In July 2018, $200 $100 June 14, 2022, not November 1, 2020, November 1, 2020. $250 November 2018 Interest rates: Spread over the London Interbank Offer Rate 2.25 - 3.25% Spread over alternative base rate 1.25 - 2.25% Standby fee per annum on undrawn amounts 0.50% Covenant financial ratios: Senior leverage ratio (debt secured by liens/EBITDA) not more than 2.50:1 Leverage ratio (total debt less unencumbered cash/EBITDA) (1) not more than 4.50:1 Interest coverage ratio (EBITDA/interest expense) not less than 3.00:1 ( 1 4.00:1 January 1, 2020. We are also able to obtain letters of credit under the facility, and for any such letters we are required to pay a participation fee of between 2.25% 3.25% 0.20% $3.0 December 31, 2018. We believe we were in compliance with all covenants under the credit agreement and no December 31, 2018. $71.0 2018. $3.0 not December 31, 2018, $48.0 As a result of the acquisition of Klondex in July 2018 ( Note 16 $35.0 $35.0 July 2018. Capital Leases We have entered into various lease agreements, primarily for equipment at our operating units, which we have determined to be capital leases. At December 31, 2018, $13.1 $5.3 $7.9 December 31, 2017, $11.8 $5.6 $6.2 $14.0 December 31, 2018, $0.9 At December 31, 2018, Twelve-month period ending December 31, 2019 $ 5,745 2020 4,480 2021 3,052 2022 733 2023 23 Total 14,033 Less: imputed interest (898 ) Net capital lease obligation 13,135 Current portion of capital leases 5,264 Long-term capital leases $ 7,871 |
Note 8 - Commitments, Contingen
Note 8 - Commitments, Contingencies, and Obligations | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 8: General We follow GAAP guidance in determining our accruals and disclosures with respect to loss contingencies, and evaluate such accruals and contingencies for each reporting period. Accordingly, estimated losses from loss contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable that a liability could be incurred and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not Lucky Friday Water Permit Matters In December 2013, 308 no. 3 December 2015. may Hecla Limited strives to maintain its water discharges at the Lucky Friday unit in full compliance with its permits and applicable laws; however, we cannot provide assurance that in the future it will be able to fully comply with the permit limits and other regulatory requirements regarding water management. Johnny M Mine Area near San Mateo, McKinley County and San Mateo Creek Basin, New Mexico In May 2011, may August 2012, $1.1 not $1.1 December 2014 three 1 no 2 3 $0 $221 $5.6 June 2015, not fourth 2014, $5.6 no not $5.6 not The Johnny M Mine is in an area known as the San Mateo Creek Basin (“SMCB”), which is an approximately 321 not may $5.6 In July 2018, may $9.6 Carpenter Snow Creek and Barker-Hughesville Sites in Montana In July 2010, 1980s 6 1988. In June 2011, may $4.5 may $100 In February 2017, April 2017. June December 1983, In August 2018, may not Potential Claim for Indemnification Against CoCa Mines, Inc. In 1991, 2014, January 2019, third 1989 may no January, may Montanore Project In October 2018, not 2008, $3,325,000. no December 31, 2018, $1.1 Litigation Related to Klondex Acquisition Following the announcement of our proposed acquisition of Klondex, Klondex and members of the Klondex board of directors were named as defendants in several putative stockholder class actions brought by purported stockholders of Klondex challenging the proposed merger. The lawsuits were all filed in the United States District Court for the District of Nevada. On December 18, 2018, three No. 3:18 00284 June 15, 2018). The plaintiffs generally claim that Klondex issued a proxy statement that included misstatements or omissions, in violation of sections 14 20 1934, Although it is not In addition, on September 11, 2018, not July 2018, 13%. July 2018 $3.7 $8.9 Debt As discussed above, on April 12, 2013, $500 2014, $6.5 one 2014. May 1 November 1 November 1, 2013. On March 5, 2018, CAD$40 USD$30.8 2018 May 1, 2021 ( 0.58%, 4.68% May 1 November 1 May 1, 2018. See Note 7 Other Commitments Our contractual obligations as of December 31, 2018 $2.7 December 31, 2018 $0.4 $1.1 $1.6 $10.9 $14.0 Note 7 December 31, 2018, $185.3 Other Contingencies We also have certain other contingencies resulting from litigation, claims, EPA investigations, and other commitments and are subject to a variety of environmental and safety laws and regulations incident to the ordinary course of business. We currently have no may may no not |
Note 9 - Employee Benefit Plans
Note 9 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note 9: Pensions and Other Post-retirement Plans We sponsor defined benefit pension plans covering substantially all U.S. employees. The following tables provide a reconciliation of the changes in the plans’ benefit obligations and fair value of assets over the two December 31, 2018, December 31, 2018 December 31, 2017 Pension Benefits 2018 2017 Change in benefit obligation: Benefit obligation at beginning of year $ 147,023 $ 132,270 Service cost 5,009 4,786 Interest cost 5,508 5,356 Amendments — 2,571 Change due to mortality change 2,713 — Change due to discount rate change (13,716 ) 5,529 Actuarial loss 3,487 1,733 Benefits paid (5,386 ) (5,222 ) Benefit obligation at end of year 144,638 147,023 Change in fair value of plan assets: Fair value of plan assets at beginning of year 99,922 87,357 Actual (loss) return on plan assets (8,772 ) 10,560 Employer contributions 10,565 7,227 Benefits paid (5,386 ) (5,222 ) Fair value of plan assets at end of year 96,329 99,922 Underfunded status at end of year $ (48,309 ) $ (47,101 ) The following table provides the amounts recognized in the consolidated balance sheets as of December 31, 2018 December 31, 2017 Pension Benefits 2018 2017 Current liabilities: Accrued benefit liability $ (597 ) $ (471 ) Non- current pension liability: Accrued benefit liability (47,711 ) (46,628 ) Accumulated other comprehensive loss 46,248 42,243 Net amount recognized $ (2,060 ) $ (4,856 ) The benefit obligation and prepaid benefit costs were calculated by applying the following weighted average assumptions: Pension Benefits 2018 2017 Discount rate: net periodic pension cost 3.83 % 4.14 % Discount rate: projected benefit obligation 4.59 % 3.83 % Expected rate of return on plan assets 6.62 % 6.80 % Rate of compensation increase: net periodic pension cost 2.00 % 2.00 % Rate of compensation increase: projected benefit obligation 2.00 % 2.00 % The above assumptions were calculated based on information as of December 31, 2018 December 31, 2017, 6.37%. Net periodic pension cost for the plans consisted of the following in 2018, 2017, 2016 Pension Benefits 2018 2017 2016 Service cost $ 5,009 $ 4,786 $ 4,309 Interest cost 5,508 5,356 5,229 Expected return on plan assets (6,536 ) (5,849 ) (5,299 ) Amortization of prior service benefit 61 (337 ) (337 ) Amortization of net gain from earlier periods 3,726 4,132 4,372 Net periodic pension cost $ 7,768 $ 8,088 $ 8,274 For 2018, $2.8 2017 2016, The allocations of investments at December 31, 2018 December 31, 2017, Hecla Lucky Friday 2018 2017 2018 2017 Cash 1 % — % 1 % — % Large cap U.S. equities 15 % 19 % 15 % 18 % Small cap U.S. equities 6 % 9 % 6 % 10 % Non-U.S. equities 23 % 27 % 23 % 26 % Fixed income 24 % 21 % 24 % 20 % Real estate 15 % 14 % 17 % 15 % Absolute return hedge funds 6 % 5 % 6 % 6 % Company stock 10 % 5 % 8 % 5 % Total 100 % 100 % 100 % 100 % "Company stock" asset category in the table above includes our common stock in the amounts of $9.3 $4.8 December 31, 2018 December 31, 2017. Each plan's statement of investment policy delineates the responsibilities of the board, the retirement/pension committee, the investment manager(s), and investment adviser/consultant, and provides guidelines on investment management. Investment objectives are established for each of the asset categories included in the pension plans with comparisons of performance against appropriate benchmarks. Each plan's policy calls for investments to be supervised by qualified investment managers. The investment managers are monitored on an ongoing basis by our outside consultant, with formal reporting to us and the consultant performed each quarter. The policy sets forth the following allocation of assets: Target Maximum Large cap U.S. equities 17 % 20 % Small cap U.S. equities 8 % 10 % Non-U.S. equities 25 % 30 % Fixed income 23 % 28 % Real estate 15 % 18 % Absolute return 5 % 7 % Company stock/Real return 7 % 13 % Each plan's statement of investment policy and objectives aspires to achieve the assumed long term rate of return on plan assets established by the plan’s actuary plus one Accounting guidance has established a hierarchy of assets measured at fair value on a recurring basis. The three Level 1: Level 2: Level 3: The fair values by asset category in each plan, along with their hierarchy levels, are as follows as of December 31, 2018 Hecla Lucky Friday Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Investments measured at fair value Interest-bearing cash $ 389 $ — $ — $ 389 $ 111 $ — $ — $ 111 Common stock 7,874 — — 7,874 1,428 — — 1,428 Mutual funds 43,960 — — 43,960 10,431 — — 10,431 Total investments in the fair value hierarchy 52,223 — — 52,223 11,970 — — 11,970 Investments measured at net asset value Real estate funds 11,926 3,231 Hedge funds 4,283 1,149 Common collective funds 9,221 2,326 Total investments measured at net asset value 25,430 6,706 Total fair value $ 52,223 $ — $ — $ 77,653 $ 11,970 $ — $ — $ 18,676 The fair values by asset category in each plan, along with their hierarchy levels, were as follows as of December 31, 2017 Hecla Lucky Friday Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Investments measured at fair value Interest-bearing cash $ 351 $ — $ — $ 351 $ 100 $ — $ — $ 100 Common stock 3,768 — — 3,768 1,015 — — 1,015 Mutual funds 47,181 — — 47,181 11,511 — — 11,511 Total investments in the fair value hierarchy 51,300 — — 51,300 12,626 — — 12,626 Investments measured at net asset value Real estate funds 11,154 3,023 Hedge funds 4,247 1,140 Common collective funds 12,856 3,576 Total investments measured at net asset value — — — 28,257 — — — 7,739 Total fair value $ 51,300 $ — $ — $ 79,557 $ 12,626 $ — $ — $ 20,365 Generally, investments are valued based on information provided by fund managers to each plan's trustee as reviewed by management and its investment advisers. Mutual funds and equities are valued based on available exchange data. Commingled equity funds consist of publicly-traded investments. Fair value for real estate funds, hedge funds and common collective equity funds is measured using the net asset value per share (or its equivalent) practical expedient ("NAV"), and has not no no December 31, 2018, Investment strategy Redemption terms Real estate funds Invest in real estate properties among the four Allowed quarterly with notice of between 45 60 Hedge funds Invest in a variety of asset classes which aim to diversify sources of returns Allowed quarterly with notice of 90 Common collective funds Invest in U.S. large cap or small/medium public equities in actively traded managed equity portfolios Allowed daily or with notice of 30 The following are estimates of future benefit payments, which reflect expected future service as appropriate, related to our pension plans (in thousands): Year Ending December 31, Pension Plans 2019 $ 6,835 2020 7,598 2021 7,775 2022 8,396 2023 8,710 Years 2024-2028 44,991 We made cash contributions to our defined benefit plans in April July 2018 $1.3 $1.2 September November 2018, $5.5 $2.1 $2.2 2019. $0.6 2019. The following table indicates whether our pension plans had accumulated benefit obligations ("ABO") in excess of plan assets, or plan assets exceeded ABO (amounts are in thousands). December 31, 2018 December 31, 2017 ABO Exceeds Plan Assets Plan Assets Exceed ABO ABO Exceeds Plan Assets Plan Assets Exceed ABO Projected benefit obligation $ 144,637 $ — $ 147,023 $ — Accumulated benefit obligation 140,350 — 141,775 — Fair value of plan assets 96,329 — 99,922 — For the pension plans, the following amounts are included in "Accumulated other comprehensive loss, net" on our balance sheet as of December 31, 2018, not Pension Benefits Unamortized net (gain)/loss $ 44,645 Unamortized prior service cost 1,603 The amounts in "Accumulated other comprehensive loss, net" expected to be recognized as components of net periodic benefit cost during 2019 Pension Benefits Amortization of net loss $ 4,389 Amortization of prior service benefit 61 We do not 2019. Non-U.S. employees are not Capital Accumulation Plans Our Capital Accumulation Plan ("Hecla 401 may 1% 50% 100% 6% $3.7 2018, $3.5 2017, $3.5 2016. 401 We also maintain a 401 six may 2% 50% 55% not 5% $4,000 2018, $114,000 2017, $442,000 2016, 2017 2018 Note 12 |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 10: Common Stock We are authorized to issue 750,000,000 $0.25 487,830,728 5,226,791 482,603,937 December 31, 2018. Subject to the rights of the holders of any outstanding shares of preferred stock, each share of common stock is entitled to: (i) one no may Dividends In September 2011 February 2012, two 1 2 $0.01 first Quarterly average realized silver price per ounce Quarterly dividend per share Annual dividend per share $30 $0.01 $0.04 $35 $0.02 $0.08 $40 $0.03 $0.12 $45 $0.04 $0.16 $50 $0.05 $0.20 $55 $0.06 $0.24 $60 $0.07 $0.28 The following table summarizes the quarterly common stock dividends declared by our board of directors for the years ended December 31, 2016, 2017 2018: (A) (B) (A+B) Declaration date Silver-price- linked component per share Minimum annual component per share Total dividend per share Total dividend amount (in millions) Month of payment February 20, 2016 $— $0.0025 $0.0025 $0.9 March 2016 May 4, 2016 $— $0.0025 $0.0025 $1.0 June 2016 August 3, 2016 $— $0.0025 $0.0025 $1.0 September 2016 November 4, 2016 $— $0.0025 $0.0025 $1.0 December 2016 February 21, 2017 $— $0.0025 $0.0025 $1.0 March 2017 May 4, 2017 $— $0.0025 $0.0025 $1.0 June 2017 August 3, 2017 $— $0.0025 $0.0025 $1.0 September 2017 November 7, 2017 $— $0.0025 $0.0025 $1.0 December 2017 February 14, 2018 $— $0.0025 $0.0025 $1.0 March 2018 May 9, 2018 $— $0.0025 $0.0025 $1.0 June 2018 August 8, 2018 $— $0.0025 $0.0025 $1.2 September 2018 November 6, 2018 $— $0.0025 $0.0025 $1.2 December 2018 February 20, 2019 $— $0.0025 $0.0025 $1.2 March 2019 Because the average realized silver prices for all periods in 2016, 2017 2018 $30, no 2011, no 1990. At-The-Market Equity Distribution Agreement Pursuant to an equity distribution agreement dated February 23, 2016, may $75 not may 1933, 3, February 23, 2016 ( 3 February 2019). December 31, 2018, 7,173,614 $24.5 $0.6 2,564,767 2018 $6.7 $0.1 Common Stock Repurchase Program On May 8, 2012, 20 may December 31, 2018, 934,100 $3.99 19.1 may February 19, 2019, $2.92 Preferred Stock Our certificate of incorporation authorizes us to issue 5,000,000 $0.25 may may December 31, 2018, 157,816 Ranking The Series B preferred stock ranks senior to our common stock and any shares of Series A junior participating preferred stock ( none While any shares of Series B preferred stock are outstanding, we may not 66 2/3% Dividends Series B preferred stockholders are entitled to receive, when, as and if declared by the board of directors out of our assets legally available therefor, cumulative cash dividends at the rate per annum of $3.50 October 1, January 1, April 1 July 1 not not All quarterly dividends on our Series B preferred stock for 2016, 2017 2018 Redemption The Series B preferred stock is redeemable at our option, in whole or in part, at $50 Liquidation Preference The Series B preferred stockholders are entitled to receive, in the event that we are liquidated, dissolved or wound up, whether voluntary or involuntary, $50 no no December 31, 2018 2017, $7.9 Voting Rights Except in certain circumstances and as otherwise from time to time required by applicable law, the Series B preferred stockholders have no not one Conversion Each share of Series B preferred stock is convertible, in whole or in part at the option of the holders thereof, into shares of common stock at a conversion price of $15.55 3.2154 Stock Award Plans We use stock-based compensation plans to aid us in attracting, retaining and motivating our employees, as well as to provide incentives more directly linked to increases in stockholder value. These plans provide for the grant of options to purchase shares of our common stock, the issuance of restricted stock units, and other equity-based awards. Stock-based compensation expense amounts recognized for the years ended December 31, 2018, 2017 2016 $6.3 $6.3 $6.2 twelve $4.5 Stock Incentive Plan During the second 2010, 2010 20,000,000 2010 December 31, 2018, 3,267,759 2010 Directors’ Stock Plan In 2017, may $120,000 25% may first 1 2 3 4 5 two 2018, 2017, 2016, 161,630, 156,122, 68,462 2018, 2017 2016, $593,000, $774,000, $271,000, December 31, 2018, 3,120,707 In addition to the foregoing, for 2016, 120,911 $532,000 2010 Restricted Stock Units Unvested restricted stock units granted by the board of directors to employees are summarized as follows: Shares Weighted Average Grant Date Fair Value per Share Unvested, January 1, 2018 2,095,318 $ 4.52 Granted (unvested) 1,975,662 $ 3.53 Canceled (196,594 ) $ 3.48 Distributed (vested) (1,184,918 ) $ 3.91 Unvested, December 31, 2018 2,689,468 $ 4.14 The 2,689,468 December 31, 2018 1,246,291 in June 2019 866,680 in June 2020 576,497 in June 2021 Unvested units will be forfeited by participants through termination of employment in advance of vesting, with the exception of termination due to retirement if certain criteria are met. Since the earliest grant date of unvested units (which was 2016 $5.2 $3.8 2018, $5.9 December 31, 2018 June 2021. Performance-Based Shares We periodically grant performance-based share awards to certain executive employees. The value of the awards is based on the ranking of the market performance of our common stock relative to the performance of the common stock of a group of peer companies over a three 2017 $0.5 $0.4 2018, $0.9 December 31, 2018 December 31, 2020. In connection with the vesting of restricted stock units, performance-based shares and other stock grants, employees have in the past, at their election and when permitted by us, chosen to satisfy their tax withholding obligations through net share settlement, pursuant to which we withhold the number of shares necessary to satisfy such withholding obligations and pay the obligations in cash. Pursuant to such net settlements, in 2018 697,341 $2.7 $3.86 2017, 588,240 $2.9 $4.88 Warrants As discussed in Note 16 4,136,000 one December 31, 2018. 2,068,000 $8.02 April 2032. 2,068,000 $1.57 February 2029. |
Note 11 - Derivative Instrument
Note 11 - Derivative Instruments | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 11: Foreign Currency Our wholly-owned subsidiaries owning the Casa Berardi and San Sebastian mines are U.S. dollar ("USD")-functional entities which routinely incur expenses denominated in Canadian dollars ("CAD") and Mexican pesos ("MXN"), respectively, and such expenses expose us to exchange rate fluctuations between the USD and CAD and MXN. In April 2016, October 2016, December 31, 2018, 107 CAD$254.6 US$197.2 24 MXN$131.4 USD$6.5 2019 2022 1.2702 1.3315. 2019 2020 19.6200 20.8550. 75% five may As of December 31, 2018, • a current asset of $23 • a current liability of $3.7 • a non-current liability of $4.9 Net unrealized losses of approximately $8.8 December 31, 2018. $3.7 December 31, 2018 twelve $0.4 December 31, 2018. $1 December 31, 2018. Metals Prices At times, we may 75% five We are currently using financially-settled forward contracts to manage the exposure to changes in prices of silver, gold, zinc and lead contained in our concentrate shipments between the time of shipment and final settlement. In addition, at times we use financially-settled forward contracts to manage the exposure to changes in prices of zinc and lead (but not not As of December 31, 2018, • a current asset of $0.2 • a current liability of $0.4 $0.5 We recognized an $8.1 2018 We recognized a $40.3 2018 2018 third 2018, $32.8 no December 31, 2018. The following tables summarize the quantities of metals committed under forward sales contracts at December 31, 2018 2017: December 31, 2018 Ounces/pounds under contract (in 000's) Average price per ounce/pound Silver Gold Zinc Lead Silver Gold Zinc Lead (ounces) (ounces) (pounds) (pounds) (ounces) (ounces) (pounds) (pounds) Contracts on provisional sales 2019 settlements 842 4 18,450 2,700 $ 14.69 $ 1,260 $ 1.15 $ 0.89 December 31, 2017 Ounces/pounds under contract (in 000's) Average price per ounce/pound Silver Gold Zinc Lead Silver Gold Zinc Lead (ounces) (ounces) (pounds) (pounds) (ounces) (ounces) (pounds) (pounds) Contracts on provisional sales 2018 settlements 1,447 5 21,550 4,740 $ 16.64 $ 1,279 $ 1.45 $ 1.11 Contracts on forecasted sales 2018 settlements N/A N/A 32,187 16,645 N/A N/A $ 1.29 $ 1.06 2019 settlements N/A N/A 23,589 18,078 N/A N/A $ 1.33 $ 1.09 2020 settlements N/A N/A 3,307 2,866 N/A N/A $ 1.27 $ 1.08 Credit-risk-related Contingent Features Certain of our derivative contracts contain cross default provisions which provide that a default under our revolving credit agreement would cause a default under the derivative contract. As of December 31, 2018, not $9.4 December 31, 2018. December 31, 2018, $9.4 |
Note 12 - Business Segments, Sa
Note 12 - Business Segments, Sales of Products and Significant Customers | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 12: We discover, acquire, develop, produce, and market concentrates and doré containing silver, gold, lead and zinc. Our products consist of both metal concentrates, which we sell to custom smelters and brokers, and unrefined bullion bars (doré), which may five July 2018 ( Note 16 General corporate activities not not The tables below present information about our reportable segments as of and for the years ended December 31, 2018, 2017 2016 2018 2017 2016 Net sales to unaffiliated customers: Greens Creek $ 265,650 $ 278,297 $ 260,446 Lucky Friday 9,750 21,555 94,479 Casa Berardi 210,339 192,165 177,143 San Sebastian 50,224 85,758 113,889 Nevada Operations 31,174 — — Total sales to unaffiliated customers $ 567,137 $ 577,775 $ 645,957 Income (loss) from operations: Greens Creek $ 70,293 $ 70,132 $ 65,125 Lucky Friday (20,199 ) (16,037 ) 18,175 Casa Berardi (1) 881 (534 ) 8,831 San Sebastian (14 ) 53,591 77,221 Nevada Operations (26,715 ) — — Other (63,372 ) (47,046 ) (59,913 ) Total (loss) income from operations (1) $ (39,126 ) $ 60,106 $ 109,439 Capital additions (including non-cash additions): Greens Creek $ 43,631 $ 35,255 $ 42,013 Lucky Friday 14,236 6,268 44,839 Casa Berardi 39,816 51,327 67,577 San Sebastian 8,492 9,994 6,026 Nevada Operations 35,721 — — Other 4,555 2,908 21,344 Total capital additions $ 146,451 $ 105,752 $ 181,799 Depreciation, depletion and amortization: Greens Creek $ 46,511 $ 56,328 $ 53,222 Lucky Friday 1,012 2,447 11,810 Casa Berardi (1) 71,302 59,131 54,817 San Sebastian 4,602 2,693 3,782 Nevada Operations 10,617 — — Total depreciation, depletion and amortization (1) $ 134,044 $ 120,599 $ 123,631 Other significant non-cash items: Greens Creek $ 3,325 $ 2,685 $ 2,736 Lucky Friday 618 2,011 720 Casa Berardi (1) 696 33 1,072 San Sebastian 419 468 — Nevada Operations 8,758 — — Other (23,358 ) 52,266 11,795 Total other significant non-cash items (1) $ (9,542 ) $ 57,463 $ 16,323 Identifiable assets: Greens Creek $ 637,386 $ 671,960 $ 681,303 Lucky Friday 437,499 432,400 442,829 Casa Berardi (1) 754,248 784,706 790,162 San Sebastian 44,152 62,198 33,608 Nevada Operations 581,194 — — Other 249,465 393,894 407,893 Total identifiable assets (1) $ 2,703,944 $ 2,345,158 $ 2,355,795 The following are our long-lived assets by geographic area as of December 31, 2018 2017 2018 2017 United States $ 1,797,441 $ 1,248,824 Canada (1) 707,473 743,779 Mexico 15,090 6,708 Total long-lived assets (1) $ 2,520,004 $ 1,999,311 ( 1 December 31, 2017 2016 Note 2 Our products consist of both metal concentrates, which we sell to custom smelters and brokers, and unrefined bullion bars (doré), which may For sales of metals from refined doré, the performance obligation is met, the transaction price is known, and revenue is recognized at the time of transfer of control of the agreed-upon metal quantities to the customer by the refiner. For sales of unrefined doré, the performance obligation is met, the transaction price is known, and revenue is recognized at the time of transfer of title and control of the doré containing the agreed-upon metal quantities to the customer. Refining, selling and shipping costs related to sales of doré and metals from doré are recorded to cost of sales as incurred. For concentrate sales, which we currently have at our Greens Creek and Lucky Friday units, the performance obligation is met, the transaction price can be reasonably estimated, and revenue is recognized generally at the time of shipment. Concentrates sold at our Lucky Friday unit typically leave the mine and are received by the customer within the same day. However, there is a period of time between shipment of concentrates from our Greens Creek unit and their physical receipt by the customer, and judgment is required in determining when control has been transferred to the customer for those shipments. We have determined the performance obligation is met and title is transferred to the customer upon shipment of concentrate parcels from Greens Creek because, at that time, 1 2 3 4 5 Judgment is also required in identifying the performance obligations for our concentrate sales. Most of our concentrate sales involve “frame contracts” with smelters that can cover multiple years and specify certain terms under which individual parcels of concentrates are sold. However, some terms are not The consideration we receive for our concentrate sales fluctuates due to changes in metals prices between the time of shipment and final settlement with the customer. However, we are able to reasonably estimate the transaction price for the concentrate sales at the time of shipment using forward prices for the month of settlement, and previously recorded sales and accounts receivable are adjusted to estimated settlement metals prices until final settlement with the customer. Also, it is unlikely a significant reversal of revenue for any one December 31, 2018, 1.0 3,658 10,689 1,572 Note 11 Sales and accounts receivable for concentrate shipments are recorded net of charges for treatment, refining, smelting losses, and other charges negotiated by us with the customers, which represent components of the transaction price. Charges are estimated by us upon shipment of concentrates based on contractual terms, and actual charges typically do not may Sales of metal concentrates and metal products are made principally to custom smelters, brokers and metals traders. The percentage of sales contributed by each segment is reflected in the following table: Year Ended December 31, 2018 2017 2016 Greens Creek 46.7 % 48.1 % 40.3 % Lucky Friday 1.8 % 3.8 % 14.7 % Casa Berardi 37.1 % 33.3 % 27.4 % San Sebastian 8.9 % 14.8 % 17.6 % Nevada Operations 5.5 % — % — % 100 % 100 % 100 % Sales of products by metal for the years ended December 31, 2018, 2017 2016 Year Ended December 31, 2018 2017 2016 Silver $ 144,609 $ 194,813 $ 274,438 Gold 313,076 277,421 276,630 Lead 33,829 37,995 63,942 Zinc 99,800 104,023 95,058 Less: Smelter and refining charges (24,177 ) (36,477 ) (64,111 ) Sales of products $ 567,137 $ 577,775 $ 645,957 The following is sales information by geographic area based on the location of smelters and brokers (for concentrate shipments) and the location of parent companies (for doré sales to metals traders) for the years ended December 31, 2018, 2017 2016 2018 2017 2016 United States $ 48,437 $ 16,806 $ 22,499 Canada 322,402 358,663 437,621 Japan 42,885 58,475 44,158 Korea 145,263 80,183 116,687 China 66 69,631 35,220 Other — — 4,008 Total, excluding gains/losses on forward contracts $ 559,053 $ 583,758 $ 660,193 Sales by significant product type for the years ended December 31, 2018, 2017 2016 Year Ended December 31, 2018 2017 2016 Doré and metals from doré $ 311,567 $ 295,176 $ 313,784 Lead concentrate 148,880 179,143 250,153 Zinc concentrate 80,938 88,688 82,872 Bulk concentrate 17,668 20,751 13,384 Total, excluding gains/losses on forward contracts $ 559,053 $ 583,758 $ 660,193 Sales of products for 2018 $8.1 2017 2016 $6.0 $14.2 Note 11 Sales from continuing operations to significant metals customers as a percentage of total sales were as follows for the years ended December 31, 2018, 2017 2016: Year Ended December 31, 2018 2017 2016 Teck Metals Ltd. 8.4 % 11.3 % 21.2 % Korea Zinc 17.8 % 16.4 % 16.9 % Scotia 15.3 % 24.9 % 24.5 % CIBC 29.7 % 22.8 % 19.0 % Our trade accounts receivable balance related to contracts with customers was $4.2 December 31, 2018 $14.8 December 31, 2017, no We have determined our contracts do not We do not not not December 31, 2018 December 31, 2017. The sales and income (loss) from operations amounts reported above include results from our Lucky Friday segment. The Lucky Friday mine is our only operation where some of our employees are subject to a collective bargaining agreement, and the most recent agreement expired on April 30, 2016. February 19, 2017, March 13, 2017 July 2017, 2018 2017, not $14.6 $17.1 $5.0 $4.2 may December 31, 2018 $435.6 17 On April 30, 2018, March 2017. not May 4, 2018, December 2017. |
Note 13 - Fair Value Measuremen
Note 13 - Fair Value Measurement | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 13: The table below sets forth our assets and liabilities (in thousands) that were accounted for at fair value on a recurring basis and the fair value calculation input hierarchy level that we have determined applies to each asset and liability category. See Note 9 Balance at December 31, 2018 Balance at December 31, 2017 Input Hierarchy Level Assets: Cash and cash equivalents: Money market funds and other bank deposits $ 27,389 $ 186,107 Level 1 Available for sale securities: Debt securities – municipal and corporate bonds — 33,758 Level 2 Equity securities – mining industry 6,583 7,561 Level 1 Trade accounts receivable: Receivables from provisional concentrate sales 4,184 14,805 Level 2 Derivative contracts: Metal forward contracts 209 — Level 2 Foreign exchange contracts 23 4,943 Level 2 Restricted cash balances: Certificates of deposit and other bank deposits 1,025 1,032 Level 1 Total assets $ 39,413 $ 248,206 Liabilities Derivative contracts: Metal forward contracts $ 373 $ 15,531 Level 2 Foreign exchange contracts 8,595 — Level 2 Total liabilities $ 8,968 $ 15,531 Cash and cash equivalents consist primarily of money market funds and are valued at cost, which approximates fair value, and a small portion consists of municipal bonds having maturities of less than 90 Current available-for-sale securities consist of municipal and corporate bonds having maturities of more than 90 Current and non-current restricted cash balances consist primarily of certificates of deposit, U.S. Treasury securities, and other deposits and are valued at cost, which approximates fair value. Our non-current available for sale securities consist of marketable equity securities of companies in the mining industry which are valued using quoted market prices for each security. Trade accounts receivable include amounts due to us for shipments of concentrates and doré sold to customers. Revenues and the corresponding accounts receivable for sales of metals products are recorded when title and risk of loss transfer to the customer (generally at the time of ship loading, or at the time of customer arrival for trucked products). Sales of concentrates are recorded using estimated forward prices for the anticipated month of settlement applied to our estimate of payable metal quantities contained in each shipment. Sales are recorded net of estimated treatment and refining charges, which are also impacted by changes in metals prices and quantities of contained metals. We estimate the prices at which sales of our concentrates will be settled due to the time elapsed between shipment and final settlement with the customer. Receivables for previously recorded concentrate sales are adjusted to reflect estimated forward metals prices at the end of each period until final settlement by the customer. We obtain the forward metals prices used each period from a pricing service. Changes in metals prices between shipment and final settlement result in changes to revenues previously recorded upon shipment. The embedded derivative contained in our concentrate sales is adjusted to fair market value through earnings each period prior to final settlement. We use financially-settled forward contracts to manage exposure to changes in the exchange rate between the USD and CAD and MXN, and the impact on CAD- and MXN-denominated operating costs incurred at our Casa Berardi and San Sebastian units (see Note 11 We use financially-settled forward contracts to manage the exposure to changes in prices of silver, gold, zinc and lead contained in our concentrate shipments that have not Note 11 not Our Senior Notes, which were recorded at their carrying value of $503.5 December 31, 2018, $500.0 December 31, 2018. 1 Note 7 |
Note 14 - Income (Loss) Per Com
Note 14 - Income (Loss) Per Common Share | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 14: We are authorized to issue 750,000,000 $0.25 December 31, 2018, 487,830,728 5,226,791 482,603,937 We calculate basic earnings per share using, as the denominator, the weighted average number of common shares outstanding during the period. Diluted earnings per share uses, as its denominator, the weighted average number of common shares outstanding during the period plus the effect of potential dilutive common shares during the period using the treasury stock method for options, warrants, and restricted stock units, and if-converted method for convertible preferred shares. Potential dilutive common shares include outstanding restricted stock unit awards, stock units, warrants and convertible preferred stock for periods in which we have reported net income. For periods in which we reported net losses, potential dilutive common shares are excluded, as their conversion and exercise would not not A total of 157,816 December 31, 2018, 2017 2016. The following table represents net income per common share – basic and diluted (in thousands, except earnings per share): Year ended December 31, 2018 2017 2016 Numerator Net income (loss) $ (26,563 ) $ (28,520 ) $ 61,569 Preferred stock dividends (552 ) (552 ) (552 ) Net income (loss) applicable to common shares $ (27,115 ) $ (29,072 ) $ 61,017 Denominator Basic weighted average common shares 433,419 397,394 386,416 Dilutive stock options, restricted stock units, and warrants — — 2,906 Diluted weighted average common shares 433,419 397,394 389,322 Basic earnings (loss) per common share $ (0.06 ) $ (0.07 ) $ 0.16 Diluted earnings (loss) per common share $ (0.06 ) $ (0.07 ) $ 0.16 There were no December 31, 2018, 2017 2016, no December 31, 2017 2016. December 31, 2018 2017, no December 31, 2016, 4,309,440 635,602 |
Note 15 - Accumulated Other Com
Note 15 - Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 15: The following table lists the beginning balance, yearly activity and ending balance of each component of "Accumulated other comprehensive loss, net" (in thousands): Unrealized Gains (Losses) On Securities Changes in fair value of derivative contracts designated as hedge transactions Adjustments For Pension Plans Total Accumulated Other Comprehensive Loss, Net Balance January 1, 2016 $ (1,159 ) $ — $ (31,472 ) $ (32,631 ) 2016 change 2,613 (5,260 ) 676 (1,971 ) Balance December 31, 2016 1,454 (5,260 ) (30,796 ) (34,602 ) 2017 change 2,265 10,290 (1,326 ) 11,229 Balance December 31, 2017 3,719 5,030 (32,122 ) (23,373 ) Change in accounting (1,289 ) — — (1,289 ) 2018 change (2,443 ) (13,814 ) (1,550 ) (17,807 ) Balance December 31, 2018 $ (13 ) $ (8,784 ) $ (33,672 ) $ (42,469 ) The $1.3 2018 January 1, 2018 No. 2016 01. $2.3 2017 $0.2 $2.6 2016 $1.0 Income Tax Effect of: Unrealized Gains (Losses) On Securities Changes in fair value of derivative contracts designated as hedge transactions Adjustments For Pension Plans Total Accumulated Other Comprehensive Loss, Net Balance January 1, 2016 $ 631 $ — $ 10,630 $ 11,261 2016 change (4 ) — (510 ) (514 ) Balance December 31, 2016 627 — 10,120 10,747 2017 change 1,164 — — 1,164 Balance December 31, 2017 1,791 — 10,120 11,911 2018 change (1,791 ) — 2,455 664 Balance December 31, 2018 $ — $ — $ 12,575 $ 12,575 See Note 3 Note 9 Note 11 |
Note 16 - Acquisitions
Note 16 - Acquisitions | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 16: Acquisition of Klondex On July 20, 2018, $2.24 100% three $2.47 0.6272 US$0.8411 0.4136 $153.2 75,276,176. 180,499,319 1,549,626 182,048,945 4,136,000 one 2,068,000 $8.02 April 2032, 2,068,000 $1.57 February 2029. $2.0 $161.7 75,276,176 $242.4 $10.2 $414.2 $7.0 $1.5 The following summarizes the preliminary allocation of purchase price to the fair value of assets acquired and liabilities assumed as of the date of acquisition (in thousands): Consideration: Cash payments $ 161,704 Hecla stock issued (75,276,176 shares at $3.22 per share) 242,389 Hecla warrants issued 10,155 Total consideration $ 414,248 Fair value of net assets acquired: Assets: Cash $ 12,874 Accounts receivable 3,453 Inventory - supplies 6,564 Inventory - finished goods, in-process material and stockpiled ore 10,302 Other current assets 2,583 Properties, plants, equipment and mineral interests 521,495 Non-current investments 1,596 Non-current restricted cash and investments 9,504 Total assets 568,371 Liabilities: Accounts payable and accrued liabilities 17,270 Accrued payroll and related benefits 10,352 Accrued taxes 421 Lease liability 2,080 Debt 35,086 Asset retirement obligation 19,571 Deferred tax liability 69,343 Total liabilities 154,123 Net assets $ 414,248 The allocation of purchase price above is preliminary, as the valuation of certain components of properties, plants, equipment and mineral interests, along with the related deferred tax balances, are under review and subject to change. In the fourth 2018, $19.2 Our results for the year ended December 31, 2018 $31.2 $26.7 The unaudited pro forma financial information below represents the combined results of our operations as if the acquisition had occurred at the beginning of the periods presented. The unaudited pro forma financial information is presented for informational purposes only and is not (unaudited) Year Ended December 31, (in thousands, except per share amounts) 2018 2017 2016 Sales $ 680,261 $ 785,859 $ 834,789 Net (loss) income (19,574 ) (35,203 ) 73,724 (Loss) income applicable to common shareholders (20,126 ) (35,755 ) 73,172 Basic and diluted (loss) income per common share (0.04 ) (0.08 ) 0.16 The pro forma financial information includes adjustments to eliminate amounts related to the Canadian assets previously owned by Klondex, which were transferred to Havilah and not Acquisition of Mines Management On September 13, 2016, $52.1 100% 10 June 2015. $4.0 $48.1 0.2218 36,498,625 963,079 8,309,006 $5.79 The following summarizes the allocation of purchase price to the fair value of assets acquired and liabilities assumed as of the date of acquisition (in thousands): Consideration: Cash $ 4,025 Hecla stock issued (8,309,006 shares at $5.79 per share) 48,109 Total consideration $ 52,134 Fair value of net assets acquired: Assets: Cash $ 94 Properties, plants, equipment and mineral interests 74,320 Restricted cash 1,185 Other assets 329 Total assets 75,928 Liabilities: Accounts payable and accrued liabilities 2,357 Deferred tax liability 20,313 Non-current reclamation liability 1,124 Total liabilities 23,794 Net assets $ 52,134 The $74.3 $0.8 $0.1 $73.4 In September 2016, 181,048 $1.0 Acquisition costs Consolidated Statements of Operations and Comprehensive Income (Loss) The unaudited pro forma financial information below represents the combined results of our operations as if the acquisition had occurred at the beginning of the periods presented. The unaudited pro forma financial information is presented for informational purposes only and is not (unaudited) Year Ended December 31, (in thousands, except per share amounts) 2016 Sales of products $ 645,957 Net income (loss) 68,778 Income (loss) applicable to common shareholders 68,226 Basic and diluted income (loss) per common share 0.17 The unaudited pro forma financial information includes adjustments to 1 $4.7 December 31, 2016 2 $32 December 31, 2016. Takeover Bid for Dolly Varden Silver Corporation On June 27, 2016, not CAD$0.69 100% 4,478,087 1,351,762 18.5% CAD$13.6 July 2016, |
Note 17 - Guarantor Subsidiarie
Note 17 - Guarantor Subsidiaries | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Guarantor Subsidiaries [Text Block] | Note 17: Presented below are Hecla’s condensed consolidating financial statements as required by Rule 3 10 X 1934, Note 7 100% April 12, 2013, January 3, 2014. March 5, 2018. The condensed consolidating financial statements below have been prepared from our financial information on the same basis of accounting as the consolidated financial statements set forth elsewhere in this report. Investments in the subsidiaries are accounted for under the equity method. Accordingly, the entries necessary to consolidate Hecla, the Guarantors, and our non-guarantor subsidiaries are reflected in the intercompany eliminations column. In the course of preparing consolidated financial statements, we eliminate the effects of various transactions conducted between Hecla and its subsidiaries and among the subsidiaries. While valid at an individual subsidiary level, such activities are eliminated in consolidation because, when taken as a whole, they do not third • Investments in subsidiaries • Capital contributions not not • Debt. • Dividends. • Deferred taxes may not Separate financial statements of the Guarantors are not 1 2 3 4 5 Condensed Consolidating Balance Sheets As of December 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated (in thousands) Assets Cash and cash equivalents $ 6,265 $ 8,661 $ 12,463 $ — $ 27,389 Other current assets 6,388 69,574 60,868 (69 ) 136,761 Properties, plants, and equipment - net 1,913 1,795,994 722,097 — 2,520,004 Intercompany receivable (payable) 171,905 (222,815 ) (171,834 ) 222,744 — Investments in subsidiaries 1,577,564 — — (1,577,564 ) — Other non-current assets 276,641 9,030 (122,969 ) (142,912 ) 19,790 Total assets $ 2,040,676 $ 1,660,444 $ 500,625 $ (1,497,801 ) $ 2,703,944 Liabilities and Stockholders' Equity Current liabilities $ (234,133 ) $ 118,863 $ 45,922 $ 205,542 $ 136,194 Long-term debt 532,799 141,870 1,989 (135,988 ) 540,670 Non-current portion of accrued reclamation — 94,602 10,377 — 104,979 Non-current deferred tax liability — 64,639 98,689 10,209 173,537 Other non-current liabilities 51,047 5,659 895 — 57,601 Stockholders' equity 1,690,963 1,234,811 342,753 (1,577,564 ) 1,690,963 Total liabilities and stockholders' equity $ 2,040,676 $ 1,660,444 $ 500,625 $ (1,497,801 ) $ 2,703,944 As of December 31, 2017 Parent Guarantors Non- Guarantors Eliminations Consolidated Revised Revised (in thousands) Assets Cash and cash equivalents $ 103,878 $ 31,016 $ 51,213 $ — $ 186,107 Other current assets 47,555 47,608 40,541 (575 ) 135,129 Properties, plants, and equipment - net 1,946 1,244,161 753,204 — 1,999,311 Intercompany receivable (payable) 287,310 (177,438 ) (341,182 ) 231,310 — Investments in subsidiaries 1,358,025 — — (1,358,025 ) — Other non-current assets 14,409 7,289 9,283 (6,370 ) 24,611 Total assets $ 1,813,123 $ 1,152,636 $ 513,059 $ (1,133,660 ) $ 2,345,158 Liabilities and Stockholders' Equity Current liabilities $ (226,576 ) $ 66,550 $ 37,671 $ 234,485 $ 112,130 Long-term debt 502,229 2,303 3,890 — 508,422 Non-current portion of accrued reclamation — 67,565 11,801 — 79,366 Non-current deferred tax liability — 10,120 124,352 (10,120 ) 124,352 Other non-current liabilities 53,588 5,185 838 — 59,611 Stockholders' equity 1,483,882 1,000,913 334,507 (1,358,025 ) 1,461,277 Total liabilities and stockholders' equity $ 1,813,123 $ 1,152,636 $ 513,059 $ (1,133,660 ) $ 2,345,158 Condensed Consolidating Statements of Operations Year Ended December 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated (in thousands) Revenues $ 8,084 $ 298,491 $ 260,562 $ — $ 567,137 Cost of sales (446 ) (188,567 ) (164,981 ) — (353,994 ) Depreciation, depletion, and amortization — (58,140 ) (75,904 ) — (134,044 ) General and administrative (18,760 ) (15,761 ) (2,021 ) — (36,542 ) Exploration and pre-development (130 ) (20,514 ) (19,938 ) — (40,582 ) Research and development — (2,893 ) (2,548 ) — (5,441 ) Gain on derivative contracts 40,253 — — — 40,253 Acquisition costs (9,445 ) (344 ) (256 ) — (10,045 ) Equity in earnings of subsidiaries (47,229 ) — — 47,229 — Other (expense) income 515 (29,302 ) 16,212 (47,431 ) (60,006 ) (Loss) income before income taxes (27,158 ) (17,030 ) 11,126 (202 ) (33,264 ) (Provision) benefit from income taxes 595 (37,444 ) (3,881 ) 47,431 6,701 Net (loss) income (26,563 ) (54,474 ) 7,245 47,229 (26,563 ) Preferred stock dividends (552 ) — — — (552 ) (Loss) income applicable to common stockholders (27,115 ) (54,474 ) 7,245 47,229 (27,115 ) Net (loss) income (26,563 ) (54,474 ) 7,245 47,229 (26,563 ) Changes in comprehensive (loss) income (17,807 ) — 38 (38 ) (17,807 ) Comprehensive (loss) income $ (44,370 ) $ (54,474 ) $ 7,283 $ 47,191 $ (44,370 ) Year Ended December 31, 2017 Parent Guarantors Non- Guarantors Eliminations Consolidated Revised Revised (in thousands) Revenues $ (5,983 ) $ 305,835 $ 277,923 $ — $ 577,775 Cost of sales 1,098 (158,135 ) (147,690 ) — (304,727 ) Depreciation, depletion, and amortization — (58,774 ) (61,825 ) — (120,599 ) General and administrative (17,693 ) (15,690 ) (2,228 ) — (35,611 ) Exploration and pre-development (459 ) (11,600 ) (16,899 ) — (28,958 ) Research and development — (3,276 ) — — (3,276 ) Loss on derivative contracts (21,250 ) — — — (21,250 ) Closed operations (24 ) — (1 ) — (25 ) Equity in earnings of subsidiaries (187,574 ) — — 187,574 — Other (expense) income 203,365 (29,735 ) (42,002 ) (202,514 ) (70,886 ) Income (loss) before income taxes (28,520 ) 28,625 7,278 (14,940 ) (7,557 ) (Provision) benefit from income taxes — (208,793 ) (14,684 ) 202,514 (20,963 ) Net income (loss) (28,520 ) (180,168 ) (7,406 ) 187,574 (28,520 ) Preferred stock dividends (552 ) — — — (552 ) Income (loss) applicable to common stockholders (29,072 ) (180,168 ) (7,406 ) 187,574 (29,072 ) Net income (loss) (28,520 ) (180,168 ) (7,406 ) 187,574 (28,520 ) Changes in comprehensive income (loss) 11,229 296 2,486 (2,782 ) 11,229 Comprehensive income (loss) $ (17,291 ) $ (179,872 ) $ (4,920 ) $ 184,792 $ (17,291 ) Year Ended December 31, 2016 Parent Guarantors Non- Guarantors Eliminations Consolidated Revised Revised (in thousands) Revenues $ (14,237 ) $ 369,162 $ 291,032 $ — $ 645,957 Cost of sales — (202,475 ) (135,850 ) — (338,325 ) Depreciation, depletion, and amortization — (65,032 ) (58,599 ) — (123,631 ) General and administrative (23,262 ) (20,425 ) (1,353 ) — (45,040 ) Exploration and pre-development (304 ) (6,640 ) (10,913 ) — (17,857 ) Gain on derivative contracts 4,423 — — — 4,423 Closed operations (2,607 ) (34 ) (54 ) — (2,695 ) Equity in earnings of subsidiaries 86,900 — — (86,900 ) — Other (expense) income 10,656 11,400 (35,885 ) (19,344 ) (33,173 ) (Loss) income before income taxes 61,569 85,956 48,378 (106,244 ) 89,659 (Provision) benefit from income taxes — (25,334 ) (22,100 ) 19,344 (28,090 ) Net (loss) income 61,569 60,622 26,278 (86,900 ) 61,569 Preferred stock dividends (552 ) — — — (552 ) (Loss) income applicable to common stockholders 61,017 60,622 26,278 (86,900 ) 61,017 Net (loss) income 61,569 60,622 26,278 (86,900 ) 61,569 Changes in comprehensive (loss) income (1,971 ) 8 2,657 (2,665 ) (1,971 ) Comprehensive (loss) income $ 59,598 $ 60,630 $ 28,935 $ (89,565 ) $ 59,598 Condensed Consolidating Statements of Cash Flows Year Ended December 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated (in thousands) Cash flows from operating activities $ (23,136 ) $ 38,116 $ 35,508 $ 43,733 $ 94,221 Cash flows from investing activities: Additions to properties, plants, and equipment — (90,578 ) (46,354 ) (136,932 ) Purchase of other companies, net of cash acquired (139,326 ) — (139,326 ) Other investing activities, net (186,615 ) 1,715 5,072 219,539 39,711 Cash flows from financing activities: Dividends paid to stockholders (4,945 ) — — (4,945 ) Borrowings under debt arrangements 102,024 — — 102,024 Repayments of debt (106,036 ) (5,550 ) (1,789 ) (113,375 ) Other financing activity 260,422 33,933 (29,671 ) (263,272 ) 1,412 Effect of exchange rate changes on cash — — (1,515 ) — (1,515 ) Changes in cash, cash equivalents and restricted cash and cash equivalents (97,612 ) (22,364 ) (38,749 ) — (158,725 ) Beginning cash, cash equivalents and restricted cash and cash equivalents 103,878 32,048 51,213 — 187,139 Ending cash, cash equivalents and restricted cash and cash equivalents $ 6,266 $ 9,684 $ 12,464 $ — $ 28,414 Year Ended December 31, 2017 Parent Guarantors Non- Guarantors Eliminations Consolidated (in thousands) Cash flows from operating activities $ (134,900 ) $ (98,046 ) $ 120,027 $ 228,797 $ 115,878 Cash flows from investing activities: — Additions to properties, plants, and equipment — (46,570 ) (51,468 ) (98,038 ) Other investing activities, net 132,118 8,119 — (138,762 ) 1,475 Cash flows from financing activities: Dividends paid to stockholders (4,528 ) — — (4,528 ) Repayments of debt — (5,242 ) (1,744 ) (6,986 ) Other financing activity (2,087 ) 147,199 (48,811 ) (90,035 ) 6,266 Effect of exchange rate changes on cash — — 1,095 — 1,095 Changes in cash, cash equivalents and restricted cash and cash equivalents (9,397 ) 5,460 19,099 — 15,162 Beginning cash, cash equivalents and restricted cash and cash equivalents 113,275 26,588 32,114 — 171,977 Ending cash, cash equivalents and restricted cash and cash equivalents $ 103,878 $ 32,048 $ 51,213 $ — $ 187,139 Year Ended December 31, 2016 Parent Guarantors Non- Guarantors Eliminations Consolidated (in thousands) Cash flows from operating activities $ 85,665 $ 82,778 $ 76,491 $ (19,606 ) $ 225,328 Cash flows from investing activities: — Additions to properties, plants, and equipment (348 ) (93,541 ) (70,899 ) — (164,788 ) Purchase of other companies, net of cash acquired (2,730 ) — — — (2,730 ) Other investing activities (30,584 ) 305 333 — (29,946 ) Cash flows from financing activities: — — Dividends paid to stockholders (4,419 ) — — (4,419 ) Repayments of debt — (10,174 ) (982 ) — (11,156 ) Other financing activity (28,476 ) 3,529 8,895 19,606 3,554 Effect of exchange rates on cash — — (74 ) — (74 ) Changes in cash, cash equivalents and restricted cash and cash equivalents 19,108 (17,103 ) 13,764 — 15,769 Beginning cash, cash equivalents and restricted cash and cash equivalents 94,167 43,691 18,350 — 156,208 Ending cash, cash equivalents and restricted cash and cash equivalents $ 113,275 $ 26,588 $ 32,114 $ — $ 171,977 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | A. Principles of Consolidation — In the third 2018, June 1, 2013 June 30, 2018. Note 2 |
Use of Estimates, Policy [Policy Text Block] | B. Assumptions and Use of Estimates — may |
Cash and Cash Equivalents, Policy [Policy Text Block] | C. Cash and Cash Equivalents — three |
Investment, Policy [Policy Text Block] | D. Investments — Gains and losses on the sale of securities are recognized on a specific identification basis. Unrealized gains and losses are included in a separate line item on our consolidated statements of operations and comprehensive income. |
Inventory, Policy [Policy Text Block] | E. Inventories — Stockpiled ore inventory represents ore that has been mined, hauled to the surface, and is available for further processing. Stockpiles are measured by estimating the number of tons added and removed from the stockpile, the amount of contained metal ounces or pounds (based on assay data) and the estimated metallurgical recovery rates (based on the expected processing method). Costs are allocated to a stockpile based on relative values of material stockpiled and processed using current mining costs incurred up to the point of stockpiling the ore, including applicable overhead, depreciation, depletion and amortization relating to mining operations, and removed at each stockpile’s average cost per recoverable unit. Finished goods inventory includes doré and concentrates at our operations, doré in transit to refiners or at refiners waiting to be processed, and bullion in our accounts at refineries. |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | F. Restricted Cash — $1.0 December 31, 2018. |
Property, Plant and Equipment, Policy [Policy Text Block] | G. Properties, Plants and Equipment The cost of removing overburden and waste materials to access the ore body at an open-pit mine prior to the production stage are referred to as "pre-stripping costs." Pre-stripping costs are capitalized during the development stage. Where multiple open pits exist at an operation utilizing common facilities, pre-stripping costs are capitalized at each pit. The production stage of a mine commences when salable materials, beyond a de minimis amount, are produced. Stripping costs incurred during the production stage are treated as variable production costs included as a component of inventory, to be recognized in cost of sales and other direct production costs in the same period as the revenue from the sale of inventory. Costs for exploration, pre-development, secondary development at operating mines, including drilling costs related to those activities (discussed further below), and maintenance and repairs on capitalized properties, plants and equipment are charged to operations as incurred. Exploration costs include those relating to activities carried out (a) in search of previously unidentified mineral deposits, (b) at undeveloped concessions, or (c) at operating mines already containing proven and probable reserves, where a determination remains pending as to whether new target deposits outside of the existing reserve areas can be economically developed. Pre-development activities involve costs incurred in the exploration stage that may not Drilling, development and related costs are either classified as exploration, pre-development or secondary development, as defined above, and charged to operations as incurred, or capitalized, based on the following criteria: • whether the costs are incurred to further define mineralization at and adjacent to existing reserve areas or intended to assist with mine planning within a reserve area; • whether the drilling or development costs relate to an ore body that has been determined to be commercially mineable, and a decision has been made to put the ore body into commercial production; and • whether, at the time the cost is incurred: (a) the expenditure embodies a probable future benefit that involves a capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflows, (b) we can obtain the benefit and control others’ access to it, and (c) the transaction or event giving rise to our right to or control of the benefit has already occurred. If all of these criteria are met, drilling, development and related costs are capitalized. Drilling and development costs not not • completion of a favorable economic study and mine plan for the ore body targeted; • authorization of development of the ore body by management and/or the board of directors; and • there is a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues and/or contractual requirements necessary for us to have the right to or control of the future benefit from the targeted ore body have been met. Drilling and related costs of approximately $11.6 $9.9 $6.8 December 31, 2018, 2017 2016, When assets are retired or sold, the costs and related allowances for depreciation and amortization are eliminated from the accounts and any resulting gain or loss is reflected in current period net income (loss). Idle facilities placed on standby are carried at the lower of net carrying value or estimated fair value. The net carrying values of idle facilities on standby are written down to salvage value upon reaching the end of the economic life. Therefore, with the exception of depreciation recorded on mobile equipment used in ongoing exploration and reclamation efforts at such properties, we do not not Included in properties, plants, equipment and mineral interests on our consolidated financial statements are mineral interests, which are tangible assets that include acquired undeveloped mineral interests and royalty interests. Undeveloped mineral interests include: (i) mineralized material and other resources which are measured, indicated or inferred with insufficient drill spacing or quality to qualify as proven and probable reserves; and (ii) inferred material not We capitalize portions of interest costs incurred on our debt as a part of the cost of constructing or acquiring certain qualifying assets. The amount of interest capitalized represents the portion of interest cost incurred during the construction or acquisition periods that theoretically could have been avoided if expenditures for the qualifying assets had not third |
Regulatory Depreciation and Amortization, Policy [Policy Text Block] | H. Depreciation, Depletion and Amortization — 3 17 not may Undeveloped mineral interests and value beyond proven and probable reserves are not |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | I. Impairment of Long-lived Assets — may not Although management has made what it believes to be a reasonable estimate of factors based on current conditions and information, assumptions underlying future cash flows are subject to significant risks and uncertainties. Estimates of undiscounted future cash flows are dependent upon, among other factors, estimates of: (i) metals to be recovered from proven and probable ore reserves and, to some extent, identified mineralization and other resources beyond proven and probable reserves, (ii) future production and capital costs and (iii) estimated metals prices (considering current and historical prices, forward pricing curves and related factors) over the estimated remaining mine life. It is reasonably possible that changes could occur in the near term that could adversely affect our estimate of future cash flows to be generated from our operating properties. If estimated undiscounted cash flows are less than the carrying value of a property, an impairment loss is recognized for the difference between the carrying value and fair value of the property. |
Proven and Probable Ore Reserves [Policy Text Block] | J. Proven and Probable Ore Reserves — 2016 2017. 2016. Reserve estimates will change as existing reserves are depleted through production, and as market prices of metals, production or capital costs, smelter terms, the grade or tonnage of the deposit, dilution of the ore or recovery rates change. A significant drop in metals prices or other factors may may may may If our realized price for the metals we produce were to decline substantially below the levels set for calculation of reserves for an extended period, there could be material delays in the development of new projects, net losses, reduced cash flow, restatements or reductions in reserves and asset write-downs in the applicable accounting periods. Reserves should not No |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | K. Pension Plans and Other Post-retirement Benefits — • recognize the funded or underfunded status of our defined benefit plans in our consolidated financial statements; and • recognize as a component of other comprehensive income (loss) the actuarial gains and losses and prior service costs and credits that arise during the period but are not See Note 9 |
Income Tax, Policy [Policy Text Block] | L. Income and Production Taxes — We evaluate uncertain tax positions in a two not not 50% We classify mine license taxes incurred in the states of Alaska and Idaho as other direct production costs reported in our gross profits. Net proceeds taxes incurred in Nevada, mining duties in Mexico, and resource taxes incurred in Quebec, Canada are classified as income taxes. For additional information, see Note 6 |
Reclamation and Remediation Cost [Policy Text Block] | M. Reclamation and Remediation Costs (Asset Retirement Obligations) — At our non-operating properties, we accrue costs associated with environmental remediation obligations when it is probable that such costs will be incurred and they are reasonably estimable. Accruals for estimated losses from environmental remediation obligations have historically been recognized no not Future closure, reclamation and environmental-related expenditures are difficult to estimate in many circumstances, due to the early stage nature of investigations, uncertainties associated with defining the nature and extent of environmental contamination, the application of laws and regulations by regulatory authorities, and changes in reclamation or remediation technology. We periodically review accrued liabilities for such reclamation and remediation costs as evidence becomes available indicating that our liabilities have potentially changed. Changes in estimates at our non-operating properties are reflected in current period net income (loss). It is reasonably possible the ultimate cost of reclamation and remediation could change in the future, and that changes to these estimates could have a material effect on future operating results as new information becomes known. |
Revenue Recognition, Policy [Policy Text Block] | N. Revenue Recognition and Trade Accounts Receivable — P. Risk Management Contracts Refining, selling and shipping costs related to sales of doré and metals from doré are recorded to cost of sales as incurred. Sales and accounts receivable for concentrate shipments are recorded net of charges by the customers for treatment, refining, smelting losses, and other charges negotiated by us with the customers. Charges are estimated by us upon shipment of concentrates based on contractual terms, and actual charges typically do not Changes in the market price of metals significantly affect our revenues, profitability, and cash flow. Metals prices can and often do fluctuate widely and are affected by numerous factors beyond our control, such as political and economic conditions, demand, forward selling by producers, aggregation by metals speculators and others, expectations for inflation, central bank sales, custom smelter activities, the relative exchange rate of the U.S. dollar, investor sentiment, and global mine production levels. The aggregate effect of these factors is impossible to predict. Because our revenue is derived from the sale of silver, gold, lead, and zinc, our earnings are directly related to the prices of these metals. See Note 12 |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | O. Foreign Currency — P. Risk Management Contracts For the year ended December 31, 2018 $10.3 December 31, 2017 2016, $9.7 $2.7 |
Risk Management Contracts [Policy Text Block] | P. Risk Management Contracts — not no December 31, 2018, not December 31, 2018, See Note 11 December 31, 2018. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Q. Stock Based Compensation — no For additional information on our restricted stock unit compensation, see Note 10. |
Legal Costs, Policy [Policy Text Block] | R. Legal Costs – |
Earnings Per Share, Policy [Policy Text Block] | S. Basic and Diluted Income (Loss) Per Common Share — Potential dilutive shares of common stock include outstanding unvested restricted stock awards, performance-based share awards, stock units, warrants and convertible preferred stock for periods in which we have reported net income. For periods in which we reported net losses, potential dilutive shares of common stock are excluded, as their conversion and exercise would be anti-dilutive. See Note 14 |
Comprehensive Income, Policy [Policy Text Block] | T. Comprehensive Income (Loss) — |
Fair Value of Financial Instruments, Policy [Policy Text Block] | U. Fair Value Measurements — 1. the fair value measurement; 2. the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1 2 3 3. for fair value measurements using significant unobservable inputs (Level 3 a. total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings, and a description of where those gains or losses included in earnings are reported in the statement of operations; b. the amount of these gains or losses attributable to the change in unrealized gains or losses relating to those assets or liabilities still held at the reporting period date and a description of where those unrealized gains or losses are reported; c. purchases, sales, issuances, and settlements (net); and d. transfers into and/or out of Level 3. 4. the amount of the total gains or losses for the period included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of operations; and 5. in annual periods only, the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period. See Notes 9 13 |
Research and Development Expense, Policy [Policy Text Block] | V. Research and development — December 31, 2018, 2017 2016 |
New Accounting Pronouncements, Policy [Policy Text Block] | W. New Accounting Pronouncements — Accounting Standards Updates Adopted In May 2014, No. 2014 09 605 10 five August 2015, No. 2015 14 606 No. 2015 14 No. 2014 09 December 15, 2017. No. 2014 09 January 1, 2018 December 31, 2017 December 31, 2016 $1.9 $1.3 We performed an assessment of the impact of implementation of ASU No. 2014 09, not not Our concentrate sales involve variable consideration, as they are subject to changes in metals prices between the time of shipment and their final settlement. However, we are able to reasonably estimate the transaction price for the concentrate sales at the time of shipment using forward prices for the month of settlement, and we then adjust the values each period until final settlement. Also, it is unlikely a significant reversal of revenue for any one Adoption of ASU No. 2014 09 Note 12 In January 2016, No. 2016 01 825 10 not December 15, 2017. No. 2016 01 January 1, 2018 $1.3 In August 2016, No. 2016 15 230 eight December 15, 2017, January 1, 2018, no In November 2016, No. 2016 18 230 December 15, 2017, January 1, 2018. $1.0 December 31, 2018 December 31, 2017, $2.2 December 31, 2016 $1.0 December 31, 2015, In January 2017, No. 2017 01 805 December 15, 2017, July 2018 ( Note 16 In March 2017, No. 2017 07 715 December 15, 2017, January 1, 2018. 2018, $2.8 not Accounting Standards Updates to Become Effective in Future Periods In February 2016, No. 2016 02 842 December 15, 2018, See Note 10 December 31, 2018. Upon implementation of the new guidance, we anticipate recognizing a liability and right-of-use asset of approximately $22.4 January 1, 2019 In August 2017, No. 2017 12 815 December 15, 2018, not In February 2018, No. 2018 02 220 December 15, 2018, $12.6 December 31, 2018. In June 2018, No. 2018 07 718 718 December 15, 2018, not In August 2018, No. 2018 13 820 December 15, 2019, In August 2018, No. 2018 14 715 20 two December 15, 2020, |
Note 2 - Revision of Previous_2
Note 2 - Revision of Previously Issued Financial Statements for Immaterial Misstatements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | As of and for the Year Ended December 31, 2017 (in thousands) As Previously Reported Adjustment As Revised Condensed Consolidated Balance Sheet Inventories: Concentrate, doré, and stockpiled ore $ 28,455 $ 911 $ 29,366 Total current assets 320,325 911 321,236 Properties, plants, equipment and mineral interests, net 2,020,021 (20,710 ) 1,999,311 Total assets 2,364,957 (19,799 ) 2,345,158 Deferred tax liability 121,546 2,806 124,352 Total liabilities 881,075 2,806 883,881 Accumulated deficit (195,484 ) (22,605 ) (218,089 ) Total shareholders' equity 1,483,882 (22,605 ) 1,461,277 Total liabilities and shareholders' equity 2,364,957 (19,799 ) 2,345,158 Consolidated Statements of Operations and Comprehensive (Loss) Income Depreciation, depletion and amortization $ 116,062 $ 4,537 $ 120,599 Total cost of sales 420,789 4,537 425,326 Gross profit 156,986 (4,537 ) 152,449 Income (loss) from operations 64,643 (4,537 ) 60,106 Foreign exchange (loss) gain (10,300 ) 620 (9,680 ) Total other (expense) income (68,283 ) 620 (67,663 ) (Loss) income before income taxes (3,640 ) (3,917 ) (7,557 ) Income tax (provision) benefit (19,879 ) (1,084 ) (20,963 ) Net (loss) income $ (23,519 ) $ (5,001 ) $ (28,520 ) (Loss) income applicable to common shareholders $ (24,071 ) $ (5,001 ) $ (29,072 ) Comprehensive income (loss) (12,290 ) (5,001 ) (17,291 ) Basic (loss) income per common share after preferred dividends $ (0.06 ) $ (0.01 ) $ (0.07 ) Diluted (loss) income per common share after preferred dividends $ (0.06 ) $ (0.01 ) $ (0.07 ) Condensed Consolidated Statements of Cash Flows Net (loss) income $ (23,519 ) $ (5,001 ) $ (28,520 ) Depreciation, depletion and amortization 121,930 4,537 126,467 Foreign exchange loss (gain) 10,828 (620 ) 10,208 Deferred income taxes 18,308 1,084 19,392 As of and for the Year Ended December 31, 2016 (in thousands) As Previously Reported Adjustment As Revised Condensed Consolidated Balance Sheet Accumulated deficit $ (167,437 ) $ (17,604 ) $ (185,041 ) Total shareholders' equity 1,479,844 (17,604 ) 1,462,240 Consolidated Statements of Operations and Comprehensive (Loss) Income Depreciation, depletion and amortization 116,126 7,505 123,631 Total cost of sales 454,451 7,505 461,956 Gross profit 191,506 (7,505 ) 184,001 Income (loss) from operations 116,944 (7,505 ) 109,439 Foreign exchange (loss) gain (2,926 ) 189 (2,737 ) Total other (expense) income (19,969 ) 189 (19,780 ) (Loss) income before income taxes 96,975 (7,316 ) 89,659 Income tax (provision) benefit (27,428 ) (662 ) (28,090 ) Net (loss) income $ 69,547 $ (7,978 ) $ 61,569 (Loss) income applicable to common shareholders $ 68,995 $ (7,978 ) $ 61,017 Comprehensive income (loss) 67,576 (7,978 ) 59,598 Basic (loss) income per common share after preferred dividends $ 0.18 $ (0.02 ) $ 0.16 Diluted (loss) income per common share after preferred dividends $ 0.18 $ (0.02 ) $ 0.16 Condensed Consolidated Statements of Cash Flows Net (loss) income $ 69,547 $ (7,978 ) $ 61,569 Depreciation, depletion and amortization 117,413 7,505 124,918 Foreign exchange loss (gain) 4,649 (189 ) 4,460 Deferred income taxes 2,112 662 2,774 As of January 1, 2016 (in thousands) As Previously Reported Adjustment As Revised Consolidated Statements of Changes in Shareholders' Equity Accumulated deficit $ (232,565 ) $ (9,626 ) $ (242,191 ) Total shareholders' equity 1,338,926 (9,626 ) 1,329,300 |
Note 3 - Investments (Tables)
Note 3 - Investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | December 31, 2017 Amortized cost Unrealized loss Fair market value Corporate bonds $ 33,778 $ (20 ) $ 33,758 |
Note 4 - Properties, Plants, _2
Note 4 - Properties, Plants, Equipment and Mineral Interests, and Lease Commitments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2018 2017 Revised Mining properties, including asset retirement obligations $ 533,631 $ 404,905 Development costs 444,229 390,094 Plants and equipment 988,285 847,462 Land 32,953 26,949 Mineral interests 1,269,956 957,359 Construction in progress 365,807 347,323 3,634,861 2,974,092 Less accumulated depreciation, depletion and amortization 1,114,857 974,781 Net carrying value $ 2,520,004 $ 1,999,311 |
Lessee, Operating Lease, Disclosure [Table Text Block] | Year ending December 31, 2019 $ 7,919 2020 5,530 2021 3,578 2022 2,543 2023 2,182 Thereafter 1,397 Total $ 23,149 |
Note 5 - Environmental and Re_2
Note 5 - Environmental and Reclamation Activities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | 2018 2017 Operating properties: Greens Creek $ 41,839 $ 41,677 Lucky Friday 10,698 9,911 Casa Berardi 5,843 6,729 San Sebastian 7,765 5,067 Nevada Operations 23,272 — Non-operating properties: Troy mine 8,971 12,724 Johnny M 5,813 5,813 Republic 1,500 1,500 All other sites 2,688 2,624 Total 108,389 86,045 Reclamation and closure costs, current (3,410 ) (6,679 ) Reclamation and closure costs, long-term $ 104,979 $ 79,366 |
Accrued Reclamation and Closure Cost Liability Activity [Table Text Block] | Balance at January 1, 2016 $ 95,538 Accruals for estimated costs 705 Accretion expense 3,158 Revision of estimated cash flows due to changes in reclamation plans 2,759 Liability addition due to acquisition of Mines Management 1,124 Payment of reclamation obligations (17,704 ) Balance at December 31, 2016 85,580 Accruals for estimated costs 16 Accretion expense 4,870 Revision of estimated cash flows due to changes in reclamation plans (578 ) Payment of reclamation obligations (3,843 ) Balance at December 31, 2017 86,045 Accruals for estimated costs 250 Accretion expense 5,309 Revision of estimated cash flows due to changes in reclamation plans 1,280 Liability addition due to acquisition of the Nevada Operations unit 19,571 Payment of reclamation obligations (4,066 ) Balance at December 31, 2018 $ 108,389 |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | 2018 2017 Balance January 1 $ 63,384 $ 59,275 Changes in obligations due to changes in reclamation plans 1,280 (578 ) Addition due to acquisition of the Nevada Operations unit 19,571 — Accretion expense 5,295 4,870 Payment of reclamation obligations (113 ) (183 ) Balance at December 31 $ 89,417 $ 63,384 |
Note 6 - Income Taxes (Tables)
Note 6 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2018 2017 2016 Revised Revised Current: Domestic $ (454 ) $ 22,171 $ (10,702 ) Foreign (4,382 ) (22,526 ) (13,713 ) Total current income tax benefit (provision) (4,836 ) (355 ) (24,415 ) Deferred: Domestic 7,147 (30,766 ) 7,480 Foreign 4,390 10,158 (11,155 ) Total deferred income tax benefit (provision) 11,537 (20,608 ) (3,675 ) Total income tax benefit (provision) $ 6,701 $ (20,963 ) $ (28,090 ) |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | 2018 2017 2016 Revised Revised Domestic $ (44,513 ) $ (7,920 ) $ 41,014 Foreign 11,249 363 48,645 Total $ (33,264 ) $ (7,557 ) $ 89,659 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2018 2017 2016 Revised Revised Computed “statutory” benefit (provision) $ 6,986 (21 )% $ 2,645 35 % $ (31,381 ) 35 % Percentage depletion 3,158 (10 ) 5,174 68 8,114 (9 ) Change in valuation allowance (2,304 ) 7 24,464 324 11,336 (13 ) Federal rate change — — (37,546 ) (497 ) — — State taxes, net of federal taxes (849 ) 3 1,112 15 (565 ) — Foreign currency remeasurement of monetary assets and liabilities 6,747 (20 ) (12,812 ) (169 ) (7,820 ) 9 Rate differential on foreign earnings (3,970 ) 12 (1,438 ) (19 ) (6,853 ) 8 Compensation (970 ) 3 (661 ) (9 ) (1,517 ) 2 Foreign withholding taxes 278 (1 ) (278 ) (4 ) — — Expiration of U.S. foreign tax credits — — (2,300 ) (30 ) — — Other (2,375 ) 7 677 9 596 (1 ) Total benefit (provision) $ 6,701 (20 )% $ (20,963 ) (277 )% $ (28,090 ) 31 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2018 2017 Revised Deferred tax assets: Accrued reclamation costs $ 29,064 $ 21,812 Deferred exploration 16,500 17,426 Foreign net operating losses 13,231 1,003 Domestic net operating losses 152,320 130,186 AMT credit carryforwards — 584 Pension and benefit obligation 12,345 12,584 Foreign exchange loss 24,849 18,112 Foreign tax credit carryforward 4,149 4,983 Miscellaneous 26,290 25,411 Total deferred tax assets 278,748 232,101 Valuation allowance (94,981 ) (78,684 ) Total deferred tax assets 183,767 153,417 Deferred tax liabilities: Miscellaneous (5,234 ) (4,978 ) Properties, plants and equipment (350,083 ) (271,282 ) Total deferred tax liabilities (355,317 ) (276,260 ) Net deferred tax liability $ (171,550 ) $ (122,843 ) |
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block] | 2018 2017 2016 Balance at beginning of year $ (78,684 ) $ (99,602 ) $ (115,806 ) Valuation allowance on deferred tax assets acquired with the Klondex acquisition (11,470 ) — — Increase related to non-utilization of net operating loss carryforwards and non-recognition of deferred tax assets due to uncertainty of recovery (5,700 ) (14,964 ) (2,868 ) Decrease related to utilization and expiration of deferred tax assets, other 873 35,882 19,072 Balance at end of year $ (94,981 ) $ (78,684 ) $ (99,602 ) |
Note 7 - Debt, Credit Facilit_2
Note 7 - Debt, Credit Facilities and Capital Leases (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Maturities of Long-term Debt [Table Text Block] | Twelve-month period ending December 31, Senior Notes RQ Notes Total 2019 $ 34,822 $ 1,372 $ 36,194 2020 34,822 1,372 $ 36,194 2021 518,107 29,778 $ 547,885 Total 587,751 32,522 620,273 Less: interest (81,251 ) (3,202 ) $ (84,453 ) Principal 506,500 29,320 535,820 Less: unamortized discount (3,021 ) — $ (3,021 ) Long-term debt $ 503,479 $ 29,320 $ 532,799 |
Schedule of Line of Credit Facilities [Table Text Block] | Interest rates: Spread over the London Interbank Offer Rate 2.25 - 3.25% Spread over alternative base rate 1.25 - 2.25% Standby fee per annum on undrawn amounts 0.50% Covenant financial ratios: Senior leverage ratio (debt secured by liens/EBITDA) not more than 2.50:1 Leverage ratio (total debt less unencumbered cash/EBITDA) (1) not more than 4.50:1 Interest coverage ratio (EBITDA/interest expense) not less than 3.00:1 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Twelve-month period ending December 31, 2019 $ 5,745 2020 4,480 2021 3,052 2022 733 2023 23 Total 14,033 Less: imputed interest (898 ) Net capital lease obligation 13,135 Current portion of capital leases 5,264 Long-term capital leases $ 7,871 |
Note 9 - Employee Benefit Pla_2
Note 9 - Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | Pension Benefits 2018 2017 Change in benefit obligation: Benefit obligation at beginning of year $ 147,023 $ 132,270 Service cost 5,009 4,786 Interest cost 5,508 5,356 Amendments — 2,571 Change due to mortality change 2,713 — Change due to discount rate change (13,716 ) 5,529 Actuarial loss 3,487 1,733 Benefits paid (5,386 ) (5,222 ) Benefit obligation at end of year 144,638 147,023 Change in fair value of plan assets: Fair value of plan assets at beginning of year 99,922 87,357 Actual (loss) return on plan assets (8,772 ) 10,560 Employer contributions 10,565 7,227 Benefits paid (5,386 ) (5,222 ) Fair value of plan assets at end of year 96,329 99,922 Underfunded status at end of year $ (48,309 ) $ (47,101 ) |
Pension Benefits Recognized Balance Sheet Location [Table Text Block] | Pension Benefits 2018 2017 Current liabilities: Accrued benefit liability $ (597 ) $ (471 ) Non- current pension liability: Accrued benefit liability (47,711 ) (46,628 ) Accumulated other comprehensive loss 46,248 42,243 Net amount recognized $ (2,060 ) $ (4,856 ) |
Schedule of Assumptions Used [Table Text Block] | Pension Benefits 2018 2017 Discount rate: net periodic pension cost 3.83 % 4.14 % Discount rate: projected benefit obligation 4.59 % 3.83 % Expected rate of return on plan assets 6.62 % 6.80 % Rate of compensation increase: net periodic pension cost 2.00 % 2.00 % Rate of compensation increase: projected benefit obligation 2.00 % 2.00 % |
Schedule of Net Benefit Costs [Table Text Block] | Pension Benefits 2018 2017 2016 Service cost $ 5,009 $ 4,786 $ 4,309 Interest cost 5,508 5,356 5,229 Expected return on plan assets (6,536 ) (5,849 ) (5,299 ) Amortization of prior service benefit 61 (337 ) (337 ) Amortization of net gain from earlier periods 3,726 4,132 4,372 Net periodic pension cost $ 7,768 $ 8,088 $ 8,274 |
Schedule of Allocation of Plan Assets [Table Text Block] | Hecla Lucky Friday 2018 2017 2018 2017 Cash 1 % — % 1 % — % Large cap U.S. equities 15 % 19 % 15 % 18 % Small cap U.S. equities 6 % 9 % 6 % 10 % Non-U.S. equities 23 % 27 % 23 % 26 % Fixed income 24 % 21 % 24 % 20 % Real estate 15 % 14 % 17 % 15 % Absolute return hedge funds 6 % 5 % 6 % 6 % Company stock 10 % 5 % 8 % 5 % Total 100 % 100 % 100 % 100 % |
Investment Policy Allocation [Table Text Block] | Target Maximum Large cap U.S. equities 17 % 20 % Small cap U.S. equities 8 % 10 % Non-U.S. equities 25 % 30 % Fixed income 23 % 28 % Real estate 15 % 18 % Absolute return 5 % 7 % Company stock/Real return 7 % 13 % |
Fair Value of Plan Assets by Category [Table Text Block] | Hecla Lucky Friday Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Investments measured at fair value Interest-bearing cash $ 389 $ — $ — $ 389 $ 111 $ — $ — $ 111 Common stock 7,874 — — 7,874 1,428 — — 1,428 Mutual funds 43,960 — — 43,960 10,431 — — 10,431 Total investments in the fair value hierarchy 52,223 — — 52,223 11,970 — — 11,970 Investments measured at net asset value Real estate funds 11,926 3,231 Hedge funds 4,283 1,149 Common collective funds 9,221 2,326 Total investments measured at net asset value 25,430 6,706 Total fair value $ 52,223 $ — $ — $ 77,653 $ 11,970 $ — $ — $ 18,676 Hecla Lucky Friday Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Investments measured at fair value Interest-bearing cash $ 351 $ — $ — $ 351 $ 100 $ — $ — $ 100 Common stock 3,768 — — 3,768 1,015 — — 1,015 Mutual funds 47,181 — — 47,181 11,511 — — 11,511 Total investments in the fair value hierarchy 51,300 — — 51,300 12,626 — — 12,626 Investments measured at net asset value Real estate funds 11,154 3,023 Hedge funds 4,247 1,140 Common collective funds 12,856 3,576 Total investments measured at net asset value — — — 28,257 — — — 7,739 Total fair value $ 51,300 $ — $ — $ 79,557 $ 12,626 $ — $ — $ 20,365 |
Schedule of Expected Benefit Payments [Table Text Block] | Year Ending December 31, Pension Plans 2019 $ 6,835 2020 7,598 2021 7,775 2022 8,396 2023 8,710 Years 2024-2028 44,991 |
Schedule of Net Funded Status [Table Text Block] | December 31, 2018 December 31, 2017 ABO Exceeds Plan Assets Plan Assets Exceed ABO ABO Exceeds Plan Assets Plan Assets Exceed ABO Projected benefit obligation $ 144,637 $ — $ 147,023 $ — Accumulated benefit obligation 140,350 — 141,775 — Fair value of plan assets 96,329 — 99,922 — |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | Pension Benefits Unamortized net (gain)/loss $ 44,645 Unamortized prior service cost 1,603 |
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] | Pension Benefits Amortization of net loss $ 4,389 Amortization of prior service benefit 61 |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Potential Per Share Dividend Amounts Quarterly Price Levels [Table Text Block] | Quarterly average realized silver price per ounce Quarterly dividend per share Annual dividend per share $30 $0.01 $0.04 $35 $0.02 $0.08 $40 $0.03 $0.12 $45 $0.04 $0.16 $50 $0.05 $0.20 $55 $0.06 $0.24 $60 $0.07 $0.28 |
Schedule of Dividends Payable [Table Text Block] | (A) (B) (A+B) Declaration date Silver-price- linked component per share Minimum annual component per share Total dividend per share Total dividend amount (in millions) Month of payment February 20, 2016 $— $0.0025 $0.0025 $0.9 March 2016 May 4, 2016 $— $0.0025 $0.0025 $1.0 June 2016 August 3, 2016 $— $0.0025 $0.0025 $1.0 September 2016 November 4, 2016 $— $0.0025 $0.0025 $1.0 December 2016 February 21, 2017 $— $0.0025 $0.0025 $1.0 March 2017 May 4, 2017 $— $0.0025 $0.0025 $1.0 June 2017 August 3, 2017 $— $0.0025 $0.0025 $1.0 September 2017 November 7, 2017 $— $0.0025 $0.0025 $1.0 December 2017 February 14, 2018 $— $0.0025 $0.0025 $1.0 March 2018 May 9, 2018 $— $0.0025 $0.0025 $1.0 June 2018 August 8, 2018 $— $0.0025 $0.0025 $1.2 September 2018 November 6, 2018 $— $0.0025 $0.0025 $1.2 December 2018 February 20, 2019 $— $0.0025 $0.0025 $1.2 March 2019 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Shares Weighted Average Grant Date Fair Value per Share Unvested, January 1, 2018 2,095,318 $ 4.52 Granted (unvested) 1,975,662 $ 3.53 Canceled (196,594 ) $ 3.48 Distributed (vested) (1,184,918 ) $ 3.91 Unvested, December 31, 2018 2,689,468 $ 4.14 |
Schedule of Share-based Compensation, Unvested Shares Expected to Vest [Table Text Block] | 1,246,291 in June 2019 866,680 in June 2020 576,497 in June 2021 |
Note 11 - Derivative Instrume_2
Note 11 - Derivative Instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | December 31, 2018 Ounces/pounds under contract (in 000's) Average price per ounce/pound Silver Gold Zinc Lead Silver Gold Zinc Lead (ounces) (ounces) (pounds) (pounds) (ounces) (ounces) (pounds) (pounds) Contracts on provisional sales 2019 settlements 842 4 18,450 2,700 $ 14.69 $ 1,260 $ 1.15 $ 0.89 December 31, 2017 Ounces/pounds under contract (in 000's) Average price per ounce/pound Silver Gold Zinc Lead Silver Gold Zinc Lead (ounces) (ounces) (pounds) (pounds) (ounces) (ounces) (pounds) (pounds) Contracts on provisional sales 2018 settlements 1,447 5 21,550 4,740 $ 16.64 $ 1,279 $ 1.45 $ 1.11 Contracts on forecasted sales 2018 settlements N/A N/A 32,187 16,645 N/A N/A $ 1.29 $ 1.06 2019 settlements N/A N/A 23,589 18,078 N/A N/A $ 1.33 $ 1.09 2020 settlements N/A N/A 3,307 2,866 N/A N/A $ 1.27 $ 1.08 |
Note 12 - Business Segments, _2
Note 12 - Business Segments, Sales of Products and Significant Customers (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | 2018 2017 2016 Net sales to unaffiliated customers: Greens Creek $ 265,650 $ 278,297 $ 260,446 Lucky Friday 9,750 21,555 94,479 Casa Berardi 210,339 192,165 177,143 San Sebastian 50,224 85,758 113,889 Nevada Operations 31,174 — — Total sales to unaffiliated customers $ 567,137 $ 577,775 $ 645,957 Income (loss) from operations: Greens Creek $ 70,293 $ 70,132 $ 65,125 Lucky Friday (20,199 ) (16,037 ) 18,175 Casa Berardi (1) 881 (534 ) 8,831 San Sebastian (14 ) 53,591 77,221 Nevada Operations (26,715 ) — — Other (63,372 ) (47,046 ) (59,913 ) Total (loss) income from operations (1) $ (39,126 ) $ 60,106 $ 109,439 Capital additions (including non-cash additions): Greens Creek $ 43,631 $ 35,255 $ 42,013 Lucky Friday 14,236 6,268 44,839 Casa Berardi 39,816 51,327 67,577 San Sebastian 8,492 9,994 6,026 Nevada Operations 35,721 — — Other 4,555 2,908 21,344 Total capital additions $ 146,451 $ 105,752 $ 181,799 Depreciation, depletion and amortization: Greens Creek $ 46,511 $ 56,328 $ 53,222 Lucky Friday 1,012 2,447 11,810 Casa Berardi (1) 71,302 59,131 54,817 San Sebastian 4,602 2,693 3,782 Nevada Operations 10,617 — — Total depreciation, depletion and amortization (1) $ 134,044 $ 120,599 $ 123,631 Other significant non-cash items: Greens Creek $ 3,325 $ 2,685 $ 2,736 Lucky Friday 618 2,011 720 Casa Berardi (1) 696 33 1,072 San Sebastian 419 468 — Nevada Operations 8,758 — — Other (23,358 ) 52,266 11,795 Total other significant non-cash items (1) $ (9,542 ) $ 57,463 $ 16,323 Identifiable assets: Greens Creek $ 637,386 $ 671,960 $ 681,303 Lucky Friday 437,499 432,400 442,829 Casa Berardi (1) 754,248 784,706 790,162 San Sebastian 44,152 62,198 33,608 Nevada Operations 581,194 — — Other 249,465 393,894 407,893 Total identifiable assets (1) $ 2,703,944 $ 2,345,158 $ 2,355,795 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | 2018 2017 United States $ 1,797,441 $ 1,248,824 Canada (1) 707,473 743,779 Mexico 15,090 6,708 Total long-lived assets (1) $ 2,520,004 $ 1,999,311 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Year Ended December 31, 2018 2017 2016 Greens Creek 46.7 % 48.1 % 40.3 % Lucky Friday 1.8 % 3.8 % 14.7 % Casa Berardi 37.1 % 33.3 % 27.4 % San Sebastian 8.9 % 14.8 % 17.6 % Nevada Operations 5.5 % — % — % 100 % 100 % 100 % |
Revenue from External Customers by Products and Services [Table Text Block] | Year Ended December 31, 2018 2017 2016 Silver $ 144,609 $ 194,813 $ 274,438 Gold 313,076 277,421 276,630 Lead 33,829 37,995 63,942 Zinc 99,800 104,023 95,058 Less: Smelter and refining charges (24,177 ) (36,477 ) (64,111 ) Sales of products $ 567,137 $ 577,775 $ 645,957 Year Ended December 31, 2018 2017 2016 Doré and metals from doré $ 311,567 $ 295,176 $ 313,784 Lead concentrate 148,880 179,143 250,153 Zinc concentrate 80,938 88,688 82,872 Bulk concentrate 17,668 20,751 13,384 Total, excluding gains/losses on forward contracts $ 559,053 $ 583,758 $ 660,193 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | 2018 2017 2016 United States $ 48,437 $ 16,806 $ 22,499 Canada 322,402 358,663 437,621 Japan 42,885 58,475 44,158 Korea 145,263 80,183 116,687 China 66 69,631 35,220 Other — — 4,008 Total, excluding gains/losses on forward contracts $ 559,053 $ 583,758 $ 660,193 |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | Year Ended December 31, 2018 2017 2016 Teck Metals Ltd. 8.4 % 11.3 % 21.2 % Korea Zinc 17.8 % 16.4 % 16.9 % Scotia 15.3 % 24.9 % 24.5 % CIBC 29.7 % 22.8 % 19.0 % |
Note 13 - Fair Value Measurem_2
Note 13 - Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Balance at December 31, 2018 Balance at December 31, 2017 Input Hierarchy Level Assets: Cash and cash equivalents: Money market funds and other bank deposits $ 27,389 $ 186,107 Level 1 Available for sale securities: Debt securities – municipal and corporate bonds — 33,758 Level 2 Equity securities – mining industry 6,583 7,561 Level 1 Trade accounts receivable: Receivables from provisional concentrate sales 4,184 14,805 Level 2 Derivative contracts: Metal forward contracts 209 — Level 2 Foreign exchange contracts 23 4,943 Level 2 Restricted cash balances: Certificates of deposit and other bank deposits 1,025 1,032 Level 1 Total assets $ 39,413 $ 248,206 Liabilities Derivative contracts: Metal forward contracts $ 373 $ 15,531 Level 2 Foreign exchange contracts 8,595 — Level 2 Total liabilities $ 8,968 $ 15,531 |
Note 14 - Income (Loss) Per C_2
Note 14 - Income (Loss) Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year ended December 31, 2018 2017 2016 Numerator Net income (loss) $ (26,563 ) $ (28,520 ) $ 61,569 Preferred stock dividends (552 ) (552 ) (552 ) Net income (loss) applicable to common shares $ (27,115 ) $ (29,072 ) $ 61,017 Denominator Basic weighted average common shares 433,419 397,394 386,416 Dilutive stock options, restricted stock units, and warrants — — 2,906 Diluted weighted average common shares 433,419 397,394 389,322 Basic earnings (loss) per common share $ (0.06 ) $ (0.07 ) $ 0.16 Diluted earnings (loss) per common share $ (0.06 ) $ (0.07 ) $ 0.16 |
Note 15 - Accumulated Other C_2
Note 15 - Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Gains (Losses) On Securities Changes in fair value of derivative contracts designated as hedge transactions Adjustments For Pension Plans Total Accumulated Other Comprehensive Loss, Net Balance January 1, 2016 $ (1,159 ) $ — $ (31,472 ) $ (32,631 ) 2016 change 2,613 (5,260 ) 676 (1,971 ) Balance December 31, 2016 1,454 (5,260 ) (30,796 ) (34,602 ) 2017 change 2,265 10,290 (1,326 ) 11,229 Balance December 31, 2017 3,719 5,030 (32,122 ) (23,373 ) Change in accounting (1,289 ) — — (1,289 ) 2018 change (2,443 ) (13,814 ) (1,550 ) (17,807 ) Balance December 31, 2018 $ (13 ) $ (8,784 ) $ (33,672 ) $ (42,469 ) Income Tax Effect of: Unrealized Gains (Losses) On Securities Changes in fair value of derivative contracts designated as hedge transactions Adjustments For Pension Plans Total Accumulated Other Comprehensive Loss, Net Balance January 1, 2016 $ 631 $ — $ 10,630 $ 11,261 2016 change (4 ) — (510 ) (514 ) Balance December 31, 2016 627 — 10,120 10,747 2017 change 1,164 — — 1,164 Balance December 31, 2017 1,791 — 10,120 11,911 2018 change (1,791 ) — 2,455 664 Balance December 31, 2018 $ — $ — $ 12,575 $ 12,575 |
Note 16 - Acquisitions (Tables)
Note 16 - Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Consideration: Cash payments $ 161,704 Hecla stock issued (75,276,176 shares at $3.22 per share) 242,389 Hecla warrants issued 10,155 Total consideration $ 414,248 Fair value of net assets acquired: Assets: Cash $ 12,874 Accounts receivable 3,453 Inventory - supplies 6,564 Inventory - finished goods, in-process material and stockpiled ore 10,302 Other current assets 2,583 Properties, plants, equipment and mineral interests 521,495 Non-current investments 1,596 Non-current restricted cash and investments 9,504 Total assets 568,371 Liabilities: Accounts payable and accrued liabilities 17,270 Accrued payroll and related benefits 10,352 Accrued taxes 421 Lease liability 2,080 Debt 35,086 Asset retirement obligation 19,571 Deferred tax liability 69,343 Total liabilities 154,123 Net assets $ 414,248 Consideration: Cash $ 4,025 Hecla stock issued (8,309,006 shares at $5.79 per share) 48,109 Total consideration $ 52,134 Fair value of net assets acquired: Assets: Cash $ 94 Properties, plants, equipment and mineral interests 74,320 Restricted cash 1,185 Other assets 329 Total assets 75,928 Liabilities: Accounts payable and accrued liabilities 2,357 Deferred tax liability 20,313 Non-current reclamation liability 1,124 Total liabilities 23,794 Net assets $ 52,134 |
Business Acquisition, Pro Forma Information [Table Text Block] | (unaudited) Year Ended December 31, (in thousands, except per share amounts) 2018 2017 2016 Sales $ 680,261 $ 785,859 $ 834,789 Net (loss) income (19,574 ) (35,203 ) 73,724 (Loss) income applicable to common shareholders (20,126 ) (35,755 ) 73,172 Basic and diluted (loss) income per common share (0.04 ) (0.08 ) 0.16 (unaudited) Year Ended December 31, (in thousands, except per share amounts) 2016 Sales of products $ 645,957 Net income (loss) 68,778 Income (loss) applicable to common shareholders 68,226 Basic and diluted income (loss) per common share 0.17 |
Note 17 - Guarantor Subsidiar_2
Note 17 - Guarantor Subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | As of December 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated (in thousands) Assets Cash and cash equivalents $ 6,265 $ 8,661 $ 12,463 $ — $ 27,389 Other current assets 6,388 69,574 60,868 (69 ) 136,761 Properties, plants, and equipment - net 1,913 1,795,994 722,097 — 2,520,004 Intercompany receivable (payable) 171,905 (222,815 ) (171,834 ) 222,744 — Investments in subsidiaries 1,577,564 — — (1,577,564 ) — Other non-current assets 276,641 9,030 (122,969 ) (142,912 ) 19,790 Total assets $ 2,040,676 $ 1,660,444 $ 500,625 $ (1,497,801 ) $ 2,703,944 Liabilities and Stockholders' Equity Current liabilities $ (234,133 ) $ 118,863 $ 45,922 $ 205,542 $ 136,194 Long-term debt 532,799 141,870 1,989 (135,988 ) 540,670 Non-current portion of accrued reclamation — 94,602 10,377 — 104,979 Non-current deferred tax liability — 64,639 98,689 10,209 173,537 Other non-current liabilities 51,047 5,659 895 — 57,601 Stockholders' equity 1,690,963 1,234,811 342,753 (1,577,564 ) 1,690,963 Total liabilities and stockholders' equity $ 2,040,676 $ 1,660,444 $ 500,625 $ (1,497,801 ) $ 2,703,944 As of December 31, 2017 Parent Guarantors Non- Guarantors Eliminations Consolidated Revised Revised (in thousands) Assets Cash and cash equivalents $ 103,878 $ 31,016 $ 51,213 $ — $ 186,107 Other current assets 47,555 47,608 40,541 (575 ) 135,129 Properties, plants, and equipment - net 1,946 1,244,161 753,204 — 1,999,311 Intercompany receivable (payable) 287,310 (177,438 ) (341,182 ) 231,310 — Investments in subsidiaries 1,358,025 — — (1,358,025 ) — Other non-current assets 14,409 7,289 9,283 (6,370 ) 24,611 Total assets $ 1,813,123 $ 1,152,636 $ 513,059 $ (1,133,660 ) $ 2,345,158 Liabilities and Stockholders' Equity Current liabilities $ (226,576 ) $ 66,550 $ 37,671 $ 234,485 $ 112,130 Long-term debt 502,229 2,303 3,890 — 508,422 Non-current portion of accrued reclamation — 67,565 11,801 — 79,366 Non-current deferred tax liability — 10,120 124,352 (10,120 ) 124,352 Other non-current liabilities 53,588 5,185 838 — 59,611 Stockholders' equity 1,483,882 1,000,913 334,507 (1,358,025 ) 1,461,277 Total liabilities and stockholders' equity $ 1,813,123 $ 1,152,636 $ 513,059 $ (1,133,660 ) $ 2,345,158 |
Condensed Income Statement [Table Text Block] | Year Ended December 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated (in thousands) Revenues $ 8,084 $ 298,491 $ 260,562 $ — $ 567,137 Cost of sales (446 ) (188,567 ) (164,981 ) — (353,994 ) Depreciation, depletion, and amortization — (58,140 ) (75,904 ) — (134,044 ) General and administrative (18,760 ) (15,761 ) (2,021 ) — (36,542 ) Exploration and pre-development (130 ) (20,514 ) (19,938 ) — (40,582 ) Research and development — (2,893 ) (2,548 ) — (5,441 ) Gain on derivative contracts 40,253 — — — 40,253 Acquisition costs (9,445 ) (344 ) (256 ) — (10,045 ) Equity in earnings of subsidiaries (47,229 ) — — 47,229 — Other (expense) income 515 (29,302 ) 16,212 (47,431 ) (60,006 ) (Loss) income before income taxes (27,158 ) (17,030 ) 11,126 (202 ) (33,264 ) (Provision) benefit from income taxes 595 (37,444 ) (3,881 ) 47,431 6,701 Net (loss) income (26,563 ) (54,474 ) 7,245 47,229 (26,563 ) Preferred stock dividends (552 ) — — — (552 ) (Loss) income applicable to common stockholders (27,115 ) (54,474 ) 7,245 47,229 (27,115 ) Net (loss) income (26,563 ) (54,474 ) 7,245 47,229 (26,563 ) Changes in comprehensive (loss) income (17,807 ) — 38 (38 ) (17,807 ) Comprehensive (loss) income $ (44,370 ) $ (54,474 ) $ 7,283 $ 47,191 $ (44,370 ) Year Ended December 31, 2017 Parent Guarantors Non- Guarantors Eliminations Consolidated Revised Revised (in thousands) Revenues $ (5,983 ) $ 305,835 $ 277,923 $ — $ 577,775 Cost of sales 1,098 (158,135 ) (147,690 ) — (304,727 ) Depreciation, depletion, and amortization — (58,774 ) (61,825 ) — (120,599 ) General and administrative (17,693 ) (15,690 ) (2,228 ) — (35,611 ) Exploration and pre-development (459 ) (11,600 ) (16,899 ) — (28,958 ) Research and development — (3,276 ) — — (3,276 ) Loss on derivative contracts (21,250 ) — — — (21,250 ) Closed operations (24 ) — (1 ) — (25 ) Equity in earnings of subsidiaries (187,574 ) — — 187,574 — Other (expense) income 203,365 (29,735 ) (42,002 ) (202,514 ) (70,886 ) Income (loss) before income taxes (28,520 ) 28,625 7,278 (14,940 ) (7,557 ) (Provision) benefit from income taxes — (208,793 ) (14,684 ) 202,514 (20,963 ) Net income (loss) (28,520 ) (180,168 ) (7,406 ) 187,574 (28,520 ) Preferred stock dividends (552 ) — — — (552 ) Income (loss) applicable to common stockholders (29,072 ) (180,168 ) (7,406 ) 187,574 (29,072 ) Net income (loss) (28,520 ) (180,168 ) (7,406 ) 187,574 (28,520 ) Changes in comprehensive income (loss) 11,229 296 2,486 (2,782 ) 11,229 Comprehensive income (loss) $ (17,291 ) $ (179,872 ) $ (4,920 ) $ 184,792 $ (17,291 ) Year Ended December 31, 2016 Parent Guarantors Non- Guarantors Eliminations Consolidated Revised Revised (in thousands) Revenues $ (14,237 ) $ 369,162 $ 291,032 $ — $ 645,957 Cost of sales — (202,475 ) (135,850 ) — (338,325 ) Depreciation, depletion, and amortization — (65,032 ) (58,599 ) — (123,631 ) General and administrative (23,262 ) (20,425 ) (1,353 ) — (45,040 ) Exploration and pre-development (304 ) (6,640 ) (10,913 ) — (17,857 ) Gain on derivative contracts 4,423 — — — 4,423 Closed operations (2,607 ) (34 ) (54 ) — (2,695 ) Equity in earnings of subsidiaries 86,900 — — (86,900 ) — Other (expense) income 10,656 11,400 (35,885 ) (19,344 ) (33,173 ) (Loss) income before income taxes 61,569 85,956 48,378 (106,244 ) 89,659 (Provision) benefit from income taxes — (25,334 ) (22,100 ) 19,344 (28,090 ) Net (loss) income 61,569 60,622 26,278 (86,900 ) 61,569 Preferred stock dividends (552 ) — — — (552 ) (Loss) income applicable to common stockholders 61,017 60,622 26,278 (86,900 ) 61,017 Net (loss) income 61,569 60,622 26,278 (86,900 ) 61,569 Changes in comprehensive (loss) income (1,971 ) 8 2,657 (2,665 ) (1,971 ) Comprehensive (loss) income $ 59,598 $ 60,630 $ 28,935 $ (89,565 ) $ 59,598 |
Condensed Cash Flow Statement [Table Text Block] | Year Ended December 31, 2018 Parent Guarantors Non-Guarantors Eliminations Consolidated (in thousands) Cash flows from operating activities $ (23,136 ) $ 38,116 $ 35,508 $ 43,733 $ 94,221 Cash flows from investing activities: Additions to properties, plants, and equipment — (90,578 ) (46,354 ) (136,932 ) Purchase of other companies, net of cash acquired (139,326 ) — (139,326 ) Other investing activities, net (186,615 ) 1,715 5,072 219,539 39,711 Cash flows from financing activities: Dividends paid to stockholders (4,945 ) — — (4,945 ) Borrowings under debt arrangements 102,024 — — 102,024 Repayments of debt (106,036 ) (5,550 ) (1,789 ) (113,375 ) Other financing activity 260,422 33,933 (29,671 ) (263,272 ) 1,412 Effect of exchange rate changes on cash — — (1,515 ) — (1,515 ) Changes in cash, cash equivalents and restricted cash and cash equivalents (97,612 ) (22,364 ) (38,749 ) — (158,725 ) Beginning cash, cash equivalents and restricted cash and cash equivalents 103,878 32,048 51,213 — 187,139 Ending cash, cash equivalents and restricted cash and cash equivalents $ 6,266 $ 9,684 $ 12,464 $ — $ 28,414 Year Ended December 31, 2017 Parent Guarantors Non- Guarantors Eliminations Consolidated (in thousands) Cash flows from operating activities $ (134,900 ) $ (98,046 ) $ 120,027 $ 228,797 $ 115,878 Cash flows from investing activities: — Additions to properties, plants, and equipment — (46,570 ) (51,468 ) (98,038 ) Other investing activities, net 132,118 8,119 — (138,762 ) 1,475 Cash flows from financing activities: Dividends paid to stockholders (4,528 ) — — (4,528 ) Repayments of debt — (5,242 ) (1,744 ) (6,986 ) Other financing activity (2,087 ) 147,199 (48,811 ) (90,035 ) 6,266 Effect of exchange rate changes on cash — — 1,095 — 1,095 Changes in cash, cash equivalents and restricted cash and cash equivalents (9,397 ) 5,460 19,099 — 15,162 Beginning cash, cash equivalents and restricted cash and cash equivalents 113,275 26,588 32,114 — 171,977 Ending cash, cash equivalents and restricted cash and cash equivalents $ 103,878 $ 32,048 $ 51,213 $ — $ 187,139 Year Ended December 31, 2016 Parent Guarantors Non- Guarantors Eliminations Consolidated (in thousands) Cash flows from operating activities $ 85,665 $ 82,778 $ 76,491 $ (19,606 ) $ 225,328 Cash flows from investing activities: — Additions to properties, plants, and equipment (348 ) (93,541 ) (70,899 ) — (164,788 ) Purchase of other companies, net of cash acquired (2,730 ) — — — (2,730 ) Other investing activities (30,584 ) 305 333 — (29,946 ) Cash flows from financing activities: — — Dividends paid to stockholders (4,419 ) — — (4,419 ) Repayments of debt — (10,174 ) (982 ) — (11,156 ) Other financing activity (28,476 ) 3,529 8,895 19,606 3,554 Effect of exchange rates on cash — — (74 ) — (74 ) Changes in cash, cash equivalents and restricted cash and cash equivalents 19,108 (17,103 ) 13,764 — 15,769 Beginning cash, cash equivalents and restricted cash and cash equivalents 94,167 43,691 18,350 — 156,208 Ending cash, cash equivalents and restricted cash and cash equivalents $ 113,275 $ 26,588 $ 32,114 $ — $ 171,977 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2019 | Dec. 31, 2015 | |
Restricted Cash and Cash Equivalents, Noncurrent, Total | $ 1,025 | $ 1,032 | |||
Capitalized Drilling Costs | 11,600 | 9,900 | $ 6,800 | ||
Foreign Currency Transaction Gain (Loss), Realized | 10,310 | (9,680) | (2,737) | ||
Revenue from Contract with Customer, Including Assessed Tax | 567,137 | 577,775 | 645,957 | ||
Restricted Cash and Cash Equivalents, Total | 1,000 | 1,000 | 2,200 | $ 1,000 | |
Subsequent Event [Member] | |||||
Finance Lease, Right-of-Use Asset | $ 22,400 | ||||
Finance Lease, Liability, Total | $ 22,400 | ||||
Other Nonoperating Income (Expense) [Member] | |||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Except Service cost | 2,800 | ||||
Accounting Standards Update 2014-09 [Member] | Pro Forma [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 1,900 | $ 1,300 | |||
Accounting Standards Update 2016-01 [Member] | AOCI Attributable to Parent [Member] | |||||
Reclassification from Accumulated Other Comprehensive Income to Retained Earnings | 1,300 | ||||
Accounting Standards Update 2018-02 [Member] | AOCI Attributable to Parent [Member] | |||||
Tax Cuts and Jobs Act of 2017 Reclassification From AOCI to Retained Earnings, Tax Effect | $ 12,600 | ||||
Minimum [Member] | |||||
Property, Plant and Equipment, Useful Life | 3 years | ||||
Maximum [Member] | |||||
Property, Plant and Equipment, Useful Life | 17 years |
Note 2 - Revision of Previous_3
Note 2 - Revision of Previously Issued Financial Statements for Immaterial Misstatements (Details Textual) $ in Millions | 3 Months Ended | |
Sep. 30, 2018USD ($) | Jun. 01, 2013 | |
Canada, Dollars | ||
Foreign Currency Exchange Rate, Translation | 0.9646 | |
Understatement of Accumulated Depreciation, Depletion and Amortization [Member] | Period from June 01, 2013 Through June 30, 2018 [Member] | ||
Prior Period Reclassification Adjustment | $ 35.5 | |
Overstatement of Accumulated Depreciation, Depletion and Amortization [Member] | Period from June 01, 2013 Through June 30, 2018 [Member] | ||
Prior Period Reclassification Adjustment | $ 14.2 |
Note 2 - Revision of Previous_4
Note 2 - Revision of Previously Issued Financial Statements for Immaterial Misstatements - Impact of Error Corrections and Prior Period Adjustments (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2016 | Dec. 31, 2015 | ||
Inventories: Concentrate, doré, and stockpiled ore | $ 53,172 | $ 29,366 | ||||
Total current assets | 164,150 | 321,236 | ||||
Properties, plants, equipment and mineral interests, net | [1] | 2,520,004 | 1,999,311 | |||
Total assets | [2] | 2,703,944 | 2,345,158 | $ 2,355,795 | ||
Deferred tax liability | 173,537 | 124,352 | ||||
Total liabilities | 1,012,981 | 883,881 | ||||
Accumulated deficit | (248,308) | (218,089) | (185,041) | $ (242,191) | ||
Total shareholders' equity | 1,690,963 | 1,461,277 | 1,462,240 | 1,329,300 | $ 1,329,300 | |
Total liabilities and shareholders' equity | 2,703,944 | 2,345,158 | ||||
Depreciation, depletion and amortization | [2] | 134,044 | 120,599 | 123,631 | ||
Total cost of sales | 488,038 | 425,326 | 461,956 | |||
Gross profit | 79,099 | 152,449 | 184,001 | |||
Income (loss) from operations | [2] | (39,126) | 60,106 | 109,439 | ||
Foreign Currency Transaction Gain (Loss), Realized | 10,310 | (9,680) | (2,737) | |||
Total other (expense) income | 5,862 | (67,663) | (19,780) | |||
Income (Loss) from continuing operations | (33,264) | (7,557) | 89,659 | |||
Income tax (provision) benefit | 6,701 | (20,963) | (28,090) | |||
Net Income (Loss) Attributable to Parent, Total | (26,563) | (28,520) | 61,569 | |||
(Loss) income applicable to common shareholders | (27,115) | (29,072) | 61,017 | |||
Comprehensive income (loss) | $ (44,370) | $ (17,291) | $ 59,598 | |||
Basic (loss) income per common share after preferred dividends (in dollars per share) | $ (0.06) | $ (0.07) | $ 0.16 | |||
Diluted (loss) income per common share after preferred dividends (in dollars per share) | $ (0.06) | $ (0.07) | $ 0.16 | |||
Depreciation, depletion and amortization | $ 140,905 | $ 126,467 | $ 124,918 | |||
Foreign exchange loss (gain) | (7,104) | 10,208 | 4,460 | |||
Deferred income taxes | $ (9,699) | 19,392 | 2,774 | |||
Previously Reported [Member] | ||||||
Inventories: Concentrate, doré, and stockpiled ore | 28,455 | |||||
Total current assets | 320,325 | |||||
Properties, plants, equipment and mineral interests, net | 2,020,021 | |||||
Total assets | 2,364,957 | |||||
Deferred tax liability | 121,546 | |||||
Total liabilities | 881,075 | |||||
Accumulated deficit | (195,484) | (167,437) | (232,565) | |||
Total shareholders' equity | 1,483,882 | 1,479,844 | 1,338,926 | |||
Total liabilities and shareholders' equity | 2,364,957 | |||||
Depreciation, depletion and amortization | 116,062 | 116,126 | ||||
Total cost of sales | 420,789 | 454,451 | ||||
Gross profit | 156,986 | 191,506 | ||||
Income (loss) from operations | 64,643 | 116,944 | ||||
Foreign Currency Transaction Gain (Loss), Realized | (10,300) | (2,926) | ||||
Total other (expense) income | (68,283) | (19,969) | ||||
Income (Loss) from continuing operations | (3,640) | 96,975 | ||||
Income tax (provision) benefit | (19,879) | (27,428) | ||||
Net Income (Loss) Attributable to Parent, Total | (23,519) | 69,547 | ||||
(Loss) income applicable to common shareholders | (24,071) | 68,995 | ||||
Comprehensive income (loss) | $ (12,290) | $ 67,576 | ||||
Basic (loss) income per common share after preferred dividends (in dollars per share) | $ (0.06) | $ 0.18 | ||||
Diluted (loss) income per common share after preferred dividends (in dollars per share) | $ (0.06) | $ 0.18 | ||||
Depreciation, depletion and amortization | $ 121,930 | $ 117,413 | ||||
Foreign exchange loss (gain) | 10,828 | 4,649 | ||||
Deferred income taxes | 18,308 | 2,112 | ||||
Restatement Adjustment [Member] | ||||||
Inventories: Concentrate, doré, and stockpiled ore | 911 | |||||
Total current assets | 911 | |||||
Properties, plants, equipment and mineral interests, net | (20,710) | |||||
Total assets | (19,799) | |||||
Deferred tax liability | 2,806 | |||||
Total liabilities | 2,806 | |||||
Accumulated deficit | (22,605) | (17,604) | (9,626) | |||
Total shareholders' equity | (22,605) | (17,604) | $ (9,626) | |||
Total liabilities and shareholders' equity | (19,799) | |||||
Depreciation, depletion and amortization | 4,537 | 7,505 | ||||
Total cost of sales | 4,537 | 7,505 | ||||
Gross profit | (4,537) | (7,505) | ||||
Income (loss) from operations | (4,537) | (7,505) | ||||
Foreign Currency Transaction Gain (Loss), Realized | 620 | 189 | ||||
Total other (expense) income | 620 | 189 | ||||
Income (Loss) from continuing operations | (3,917) | (7,316) | ||||
Income tax (provision) benefit | (1,084) | (662) | ||||
Net Income (Loss) Attributable to Parent, Total | (5,001) | (7,978) | ||||
(Loss) income applicable to common shareholders | (5,001) | (7,978) | ||||
Comprehensive income (loss) | $ (5,001) | $ (7,978) | ||||
Basic (loss) income per common share after preferred dividends (in dollars per share) | $ (0.01) | $ (0.02) | ||||
Diluted (loss) income per common share after preferred dividends (in dollars per share) | $ (0.01) | $ (0.02) | ||||
Depreciation, depletion and amortization | $ 4,537 | $ 7,505 | ||||
Foreign exchange loss (gain) | (620) | (189) | ||||
Deferred income taxes | $ 1,084 | $ 662 | ||||
[1] | Amounts reported as of and for the years ended December 31, 2017 and 2016 have been revised. See Note 2 for more information. | |||||
[2] | Amounts reported as of and for the years ended December 31, 2017 and 2016 have been revised. See Note 2 for more information. |
Note 3 - Investments (Details T
Note 3 - Investments (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Securities, Available-for-sale, Current, Total | $ 0 | $ 33,758 | |
Payments to Acquire Debt Securities, Available-for-sale | 31,200 | 55,000 | |
Proceeds from Sale and Maturity of Marketable Securities, Total | 64,895 | 49,969 | $ 18,649 |
Equity Securities, FV-NI | 6,600 | 7,600 | |
Equity Securities, FV-NI, Cost | 7,700 | 5,700 | |
Available-for-sale Equity Securities, Acquired During Period, Cost Basis | 2,400 | 1,600 | |
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | $ (2,800) | (200) | |
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, before Tax | $ 2,100 |
Note 3 - Investments - Current
Note 3 - Investments - Current Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Fair market value | $ 0 | $ 33,758 |
Corporate Bond Securities [Member] | ||
Amortized cost | 33,778 | |
Unrealized loss | (20) | |
Fair market value | $ 33,758 |
Note 4 - Properties, Plants, _3
Note 4 - Properties, Plants, Equipment and Mineral Interests, and Lease Commitments (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Payments to Acquire Property, Plant, and Equipment, Total | $ 136,933 | $ 98,038 | $ 164,788 |
Accumulated Capitalized Interest Costs | 900 | ||
Capital Leased Assets, Gross, Total | 58,400 | 48,600 | |
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation | 38,400 | 33,100 | |
Operating Leases, Rent Expense, Total | 7,800 | $ 4,800 | $ 4,800 |
Lucky Friday [Member] | |||
Payments to Acquire Property, Plant, and Equipment, Total | 14,200 | ||
Greens Creek [Member] | |||
Payments to Acquire Property, Plant, and Equipment, Total | 40,900 | ||
Mining Assets, Value Beyond Proven and Probable Reserves (VBPP) | 223,400 | ||
Casa Berardi [Member] | |||
Payments to Acquire Property, Plant, and Equipment, Total | 39,700 | ||
Mining Assets, Value Beyond Proven and Probable Reserves (VBPP) | 396,400 | ||
San Sebastian [Member] | |||
Payments to Acquire Property, Plant, and Equipment, Total | 6,200 | ||
Nevada Operations [Member] | |||
Payments to Acquire Property, Plant, and Equipment, Total | 32,600 | ||
Mining Assets, Value Beyond Proven and Probable Reserves (VBPP) | $ 382,100 |
Note 4 - Properties, Plants, _4
Note 4 - Properties, Plants, Equipment and Mineral Interests, and Lease Commitments - Major Components of Property, Plants, Equipment and Mineral Interests (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, plant and equipment, gross | $ 3,634,861 | $ 2,974,092 | |
Less accumulated depreciation, depletion and amortization | 1,114,857 | 974,781 | |
Net carrying value | [1] | 2,520,004 | 1,999,311 |
Mining Properties Including Asset Retirement Obligations [Member] | |||
Property, plant and equipment, gross | 533,631 | 404,905 | |
Mine Development [Member] | |||
Property, plant and equipment, gross | 444,229 | 390,094 | |
Plant and Equipment [Member] | |||
Property, plant and equipment, gross | 988,285 | 847,462 | |
Land [Member] | |||
Property, plant and equipment, gross | 32,953 | 26,949 | |
Mineral Interests [Member] | |||
Property, plant and equipment, gross | 1,269,956 | 957,359 | |
Construction in Progress [Member] | |||
Property, plant and equipment, gross | $ 365,807 | $ 347,323 | |
[1] | Amounts reported as of and for the years ended December 31, 2017 and 2016 have been revised. See Note 2 for more information. |
Note 4 - Properties, Plants, _5
Note 4 - Properties, Plants, Equipment and Mineral Interests, and Lease Commitments - Future Obligations Under Non-cancelable Operating Leases (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2,019 | $ 7,919 |
2,020 | 5,530 |
2,021 | 3,578 |
2,022 | 2,543 |
2,023 | 2,182 |
Thereafter | 1,397 |
Total | $ 23,149 |
Note 5 - Environmental and Re_3
Note 5 - Environmental and Reclamation Activities (Details Textual) $ in Thousands | Nov. 07, 2016USD ($) | Aug. 31, 2016USD ($) | Dec. 31, 2018USD ($) | Jun. 30, 2015USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Accrual for Environmental Loss Contingencies, Ending Balance | $ 108,389 | $ 86,045 | $ 85,580 | $ 95,538 | ||||
Greens Creek [Member] | ||||||||
Asset Retirement Obligation, Revision of Estimate Before Discounting | 114,900 | $ 100,100 | ||||||
Asset Retirement Obligation, Liabilities Incurred | 3,200 | |||||||
San Sebastian [Member] | ||||||||
Asset Retirement Obligation, Revision of Estimate Before Discounting | 2,800 | |||||||
Asset Retirement Obligation, Liabilities Incurred | 2,300 | |||||||
Nevada Operations [Member] | ||||||||
Asset Retirement Obligation, Revision of Estimate Before Discounting | 1,300 | |||||||
Asset Retirement Obligation, Liabilities Incurred | $ 3,100 | |||||||
Asset Retirement Obligation [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||
Derivative Liability, Measurement Input | 0.075 | |||||||
Minimum [Member] | ||||||||
Inflation Rate, Asset Retirement Obligation | 2.00% | |||||||
Minimum [Member] | Reclamation and Abandonment Costs [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||
Derivative Liability, Measurement Input | 0.0575 | |||||||
Maximum [Member] | ||||||||
Inflation Rate, Asset Retirement Obligation | 4.00% | |||||||
Maximum [Member] | Reclamation and Abandonment Costs [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||
Derivative Liability, Measurement Input | 0.145 | |||||||
Nelson Tunnel/Commodore Site [Member] | United States and Colorado [Member] | ||||||||
Loss Contingency Accrual, Payments | $ 6,000 | |||||||
Gilt Edge Mine Superfund Site [Member] | United States and South Dakota [Member] | ||||||||
Loss Contingency Accrual, Payments | $ 3,900 | |||||||
Gilt Edge Mine Superfund Site [Member] | United States, South Dakota, Insurers and Another Potentially Responsible Party [Member] | ||||||||
Loss Contingency Accrual, Payments | $ 6,700 | |||||||
Gilt Edge Site and Nelson Tunnel/Commodore Site [Member] | ||||||||
Liability for Remediation | $ 9,900 |
Note 5 - Environmental and Re_4
Note 5 - Environmental and Reclamation Activities - Liabilities Accrued for Reclamation and Closure Costs (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Reclamation and closure costs | $ 108,389 | $ 86,045 | $ 85,580 | $ 95,538 |
Reclamation and closure costs, current | (3,410) | (6,679) | ||
Reclamation and closure costs, long-term | 104,979 | 79,366 | ||
Operating Properties [Member] | Greens Creek [Member] | ||||
Reclamation and closure costs | 41,839 | 41,677 | ||
Operating Properties [Member] | Lucky Friday [Member] | ||||
Reclamation and closure costs | 10,698 | 9,911 | ||
Operating Properties [Member] | Casa Berardi [Member] | ||||
Reclamation and closure costs | 5,843 | 6,729 | ||
Operating Properties [Member] | San Sebastian [Member] | ||||
Reclamation and closure costs | 7,765 | 5,067 | ||
Operating Properties [Member] | Nevada Operations [Member] | ||||
Reclamation and closure costs | 23,272 | |||
Non-Operating Properties [Member] | Troy Mine [Member] | ||||
Reclamation and closure costs | 8,971 | 12,724 | ||
Non-Operating Properties [Member] | Johnny M Mine Area near San Mateo, New Mexico [Member] | ||||
Reclamation and closure costs | 5,813 | 5,813 | ||
Non-Operating Properties [Member] | Republic [Member] | ||||
Reclamation and closure costs | 1,500 | 1,500 | ||
Non-Operating Properties [Member] | All Other Sites [Member] | ||||
Reclamation and closure costs | $ 2,688 | $ 2,624 |
Note 5 - Environmental and Re_5
Note 5 - Environmental and Reclamation Activities - Accrued Reclamation and Closure Cost Liability Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance | $ 86,045 | $ 85,580 | $ 95,538 |
Accruals for estimated costs | 250 | 16 | 705 |
Accretion expense | 5,309 | 4,870 | 3,158 |
Revision of estimated cash flows due to changes in reclamation plans | 1,280 | (578) | 2,759 |
Liability addition due to acquisition | 19,571 | 1,124 | |
Payment of reclamation obligations | (4,066) | (3,843) | (17,704) |
Balance | $ 108,389 | $ 86,045 | $ 85,580 |
Note 5 - Environmental and Re_6
Note 5 - Environmental and Reclamation Activities - Reconciliation of Asset Retirement Obligations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Balance January 1 | $ 63,384 | $ 59,275 |
Changes in obligations due to changes in reclamation plans | 1,280 | (578) |
Addition due to acquisition of the Nevada Operations unit | 19,571 | |
Accretion expense | 5,295 | 4,870 |
Payment of reclamation obligations | (113) | (183) |
Balance at December 31 | $ 89,417 | $ 63,384 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 11 Months Ended | 12 Months Ended | |||
Dec. 13, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Deferred Tax Liabilities, Net, Total | $ 171,550 | $ 122,843 | |||
Liability Related to Withholding Taxes on Foreign Earnings Repatriated | 300 | ||||
Foreign Earnings Repatriated | $ 0 | ||||
Income Tax Expense (Benefit), Total | (6,701) | 20,963 | 28,090 | ||
Net Income (Loss) Attributable to Parent, Total | (26,563) | (28,520) | 61,569 | ||
Deferred Tax Assets, Valuation Allowance, Total | $ 94,981 | 78,684 | $ 99,602 | $ 115,806 | |
Operating Loss Carryforwards Expiration Period | 20 years | ||||
Deferred Tax Assets, Net Operating Loss | $ 5,000 | ||||
Unrecognized Tax Benefits, Ending Balance | 0 | ||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | 30,000 | ||||
Domestic Tax Authority [Member] | |||||
Deferred Tax Assets, Valuation Allowance, Total | 92,000 | ||||
Operating Loss Carryforwards, Total | 605,900 | ||||
Foreign Tax Authority [Member] | |||||
Operating Loss Carryforwards, Total | 50,000 | ||||
Foreign Tax Authority [Member] | Hecla Canada Limited [Member] | Canada Revenue Agency [Member] | |||||
Deferred Tax Assets, Valuation Allowance, Total | 1,300 | ||||
Foreign Tax Authority [Member] | Minera Hecla S.A. [Member] | Mexican Tax Authority [Member] | |||||
Deferred Tax Assets, Valuation Allowance, Total | 1,700 | ||||
Foreign Tax Authority [Member] | Hecla Quebec. Inc [Member] | Canada Revenue Agency [Member] | |||||
Deferred Tax Assets, Valuation Allowance, Total | 0 | ||||
State and Local Jurisdiction [Member] | |||||
Operating Loss Carryforwards, Total | 383,300 | ||||
Klondex Mines Ltd [Member] | |||||
Deferred Tax Liabilities, Net, Total | 69,400 | ||||
Income Tax Expense (Benefit), Total | $ 6,300 | ||||
Net Income (Loss) Attributable to Parent, Total | $ (30,000) | ||||
Reclassification From Current Deferred Tax Assets to Non-Current Deferred Tax Assets [Member] | As of December 31, 2016 [Member] | |||||
Prior Period Reclassification Adjustment | 12,300 | ||||
Reclassification From Current Deferred Tax Liabilities to Non-Current Deferred Tax Liabilities [Member] | As of December 31, 2016 [Member] | |||||
Prior Period Reclassification Adjustment | $ 1,300 |
Note 6 - Income Taxes - Major C
Note 6 - Income Taxes - Major Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Domestic | $ (454) | $ 22,171 | $ (10,702) |
Foreign | (4,382) | (22,526) | (13,713) |
Total current income tax benefit (provision) | (4,836) | (355) | (24,415) |
Domestic | 7,147 | (30,766) | 7,480 |
Foreign | 4,390 | 10,158 | (11,155) |
Total deferred income tax benefit (provision) | 11,537 | (20,608) | (3,675) |
Total benefit (provision) | $ 6,701 | $ (20,963) | $ (28,090) |
Note 6 - Income Taxes - Compone
Note 6 - Income Taxes - Components of Income (Loss) from Operations Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income (Loss) from continuing operations | $ (33,264) | $ (7,557) | $ 89,659 |
Domestic Tax Authority [Member] | |||
Income (Loss) from continuing operations | (44,513) | (7,920) | 41,014 |
Foreign Tax Authority [Member] | |||
Income (Loss) from continuing operations | $ 11,249 | $ 363 | $ 48,645 |
Note 6 - Income Taxes - Reconci
Note 6 - Income Taxes - Reconciliation of Statutory Federal Income Tax Rate to Annual Tax Provision (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Computed “statutory” benefit (provision), Amount | $ 6,986 | $ 2,645 | $ (31,381) |
Computed “statutory” benefit (provision), Percentage | (21.00%) | ||
Computed “statutory” benefit (provision), Percentage | 35.00% | 35.00% | |
Percentage depletion, Amount | $ 3,158 | $ 5,174 | $ 8,114 |
Percentage depletion, Percentage | (10.00%) | 68.00% | (9.00%) |
Change in valuation allowance, Amount | $ (2,304) | $ 24,464 | $ 11,336 |
Change in valuation allowance, Percentage | 7.00% | 324.00% | (13.00%) |
Federal rate change, Amount | $ (37,546) | ||
Federal rate change, Percentage | (497.00%) | ||
State taxes, net of federal taxes, Amount | $ (849) | $ 1,112 | $ (565) |
State taxes, net of federal taxes, Percentage | 3.00% | 15.00% | |
Foreign currency remeasurement of monetary assets and liabilities, Amount | $ 6,747 | $ (12,812) | $ (7,820) |
Foreign currency remeasurement of monetary assets and liabilities, Percentage | (20.00%) | (169.00%) | 9.00% |
Rate differential on foreign earnings, Amount | $ (3,970) | $ (1,438) | $ (6,853) |
Rate differential on foreign earnings, Percentage | 12.00% | (19.00%) | 8.00% |
Compensation, Amount | $ (970) | $ (661) | $ (1,517) |
Compensation, Percentage | 3.00% | (9.00%) | 2.00% |
Foreign withholding taxes, Amount | $ 278 | $ (278) | |
Foreign withholding taxes, percentage | (1.00%) | (4.00%) | |
Expiration of U.S. foreign tax credits, Amount | $ (2,300) | ||
Expiration of U.S. foreign tax credits, percentage | (30.00%) | ||
Other, Amount | $ (2,375) | $ 677 | $ 596 |
Other, Percentage | 7.00% | 9.00% | (1.00%) |
Total benefit (provision) | $ 6,701 | $ (20,963) | $ (28,090) |
Total benefit (provision) | (20.00%) | (277.00%) | 31.00% |
Note 6 - Income Taxes - Compo_2
Note 6 - Income Taxes - Components of the Net Deferred Tax Asset (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Accrued reclamation costs | $ 29,064 | $ 21,812 | ||
Deferred exploration | 16,500 | 17,426 | ||
Foreign net operating losses | 13,231 | 1,003 | ||
Domestic net operating losses | 152,320 | 130,186 | ||
AMT credit carryforwards | 584 | |||
Pension and benefit obligation | 12,345 | 12,584 | ||
Foreign exchange loss | 24,849 | 18,112 | ||
Foreign tax credit carryforward | 4,149 | 4,983 | ||
Miscellaneous | 26,290 | 25,411 | ||
Total deferred tax assets | 278,748 | 232,101 | ||
Valuation allowance | (94,981) | (78,684) | $ (99,602) | $ (115,806) |
Total deferred tax assets | 183,767 | 153,417 | ||
Miscellaneous | (5,234) | (4,978) | ||
Properties, plants and equipment | (350,083) | (271,282) | ||
Total deferred tax liabilities | (355,317) | (276,260) | ||
Net deferred tax liability | $ (171,550) | $ (122,843) |
Note 6 - Income Taxes - Changes
Note 6 - Income Taxes - Changes in the Valuation Allowance (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance at beginning of year | $ (94,981) | $ (78,684) | $ (99,602) | $ (115,806) |
Increase Due to Uncertainty of Recovery [Member] | ||||
Valuation allowance, deferred tax asset, increase (decrease) | (5,700) | (14,964) | (2,868) | |
Decrease Related to Utilization and Expiration [Member] | ||||
Valuation allowance, deferred tax asset, increase (decrease) | 873 | 35,882 | 19,072 | |
Klondex Mines Ltd [Member] | ||||
Valuation allowance on deferred tax assets acquired with the Klondex acquisition | $ (11,470) |
Note 7 - Debt, Credit Facilit_3
Note 7 - Debt, Credit Facilities and Capital Leases (Details Textual) $ in Thousands, $ in Millions | Feb. 20, 2019USD ($) | Jul. 31, 2018USD ($) | Apr. 12, 2013USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2014USD ($) | Jan. 01, 2020 | Jul. 20, 2018USD ($) | Mar. 05, 2018USD ($) | Mar. 05, 2018CAD ($) | May 31, 2016USD ($) | |
Letters of Credit Outstanding, Amount | $ 3,000 | ||||||||||||
Capital Lease Obligations, Total | 13,135 | $ 11,800 | |||||||||||
Capital Lease Obligations, Current | 5,264 | 5,608 | |||||||||||
Capital Lease Obligations, Noncurrent | 7,871 | 6,193 | |||||||||||
Capital Leases, Future Minimum Payments Due, Total | 14,033 | ||||||||||||
Capital Leases, Future Minimum Payments, Interest Included in Payments | $ 898 | ||||||||||||
Klondex Mines Ltd [Member] | |||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt | $ 35,086 | ||||||||||||
Maximum [Member] | |||||||||||||
Leverage Ratio | [1] | 4.5 | |||||||||||
Revolving Credit Facility [Member] | |||||||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 200,000 | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 250,000 | $ 100,000 | |||||||||||
Letters of Credit Outstanding, Amount | $ 3,000 | ||||||||||||
Long-term Line of Credit, Total | 71,000 | 0 | |||||||||||
Revolving Credit Facility [Member] | Klondex Mines Ltd [Member] | |||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt | $ 35,000 | ||||||||||||
Repayments of Lines of Credit | $ 35,000 | ||||||||||||
Revolving Credit Facility [Member] | Subsequent Event [Member] | |||||||||||||
Proceeds from Lines of Credit, Total | $ 48,000 | ||||||||||||
Revolving Credit Facility [Member] | Scenario, Forecast [Member] | |||||||||||||
Leverage Ratio | 4 | ||||||||||||
Letter of Credit [Member] | |||||||||||||
Letter of Credit Outstanding, Fronting Fee | 0.20% | ||||||||||||
Letter of Credit [Member] | Minimum [Member] | |||||||||||||
Letter of Credit, Participation Fee, Percent | 2.25% | ||||||||||||
Letter of Credit [Member] | Maximum [Member] | |||||||||||||
Letter of Credit, Participation Fee, Percent | 3.25% | ||||||||||||
Senior Notes [Member] | |||||||||||||
Debt Instrument, Face Amount | $ 500,000 | ||||||||||||
Payment for Pension Benefits | $ 6,500 | ||||||||||||
Proceeds from Issuance of Senior Long-term Debt | $ 490,000 | ||||||||||||
Underwriting Discount on Senior Notes | 2.00% | ||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 10,000 | 3,000 | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.875% | ||||||||||||
Interest Expense, Debt, Total | $ 36,300 | 35,300 | $ 20,100 | ||||||||||
Interest Costs Capitalized | 900 | $ 16,200 | |||||||||||
Debt Instrument, Redemption Price, Percentage | 101.00% | ||||||||||||
Senior Notes [Member] | Costs Related to Private Offering and Tender Offer [Member] | |||||||||||||
Interest Expense, Debt, Total | $ 900 | ||||||||||||
Series 2018-A Senior Notes [Member] | |||||||||||||
Debt Instrument, Face Amount | $ 30,800 | $ 40 | |||||||||||
Debt Instrument, Unamortized Discount, Total | $ 0.2 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.68% | 4.68% | |||||||||||
Interest Expense, Debt, Total | $ 1,400 | ||||||||||||
Debt Instrument, Issuance, Discount Rate | 0.58% | 0.58% | |||||||||||
[1] | The leverage ratio will change to 4.00:1 effective January 1, 2020. |
Note 7 - Debt, Credit Facilit_4
Note 7 - Debt, Credit Facilities and Capital Leases - Annual Future Obligations Related to the Senior Notes (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
2,019 | $ 36,194 | |
2,020 | 36,194 | |
2,021 | 547,885 | |
Total | 620,273 | |
Less: interest | (84,453) | |
Principal | 535,820 | |
Less: unamortized discount | (3,021) | |
Long-term debt | 532,799 | $ 502,229 |
Senior Notes [Member] | ||
2,019 | 34,822 | |
2,020 | 34,822 | |
2,021 | 518,107 | |
Total | 587,751 | |
Less: interest | (81,251) | |
Principal | 506,500 | |
Less: unamortized discount | (3,021) | |
Long-term debt | 503,479 | |
Series 2018-A Senior Notes [Member] | ||
2,019 | 1,372 | |
2,020 | 1,372 | |
2,021 | 29,778 | |
Total | 32,522 | |
Less: interest | (3,202) | |
Principal | 29,320 | |
Less: unamortized discount | ||
Long-term debt | $ 29,320 |
Note 7 - Debt, Credit Facilit_5
Note 7 - Debt, Credit Facilities and Capital Leases - Credit Facility (Details) | 12 Months Ended | |
Dec. 31, 2018 | ||
Standby fee per annum on undrawn amounts | 0.50% | |
Maximum [Member] | ||
Senior leverage ratio (debt secured by liens/EBITDA) | 2.5 | |
Leverage ratio (total debt less unencumbered cash/EBITDA) | 4.5 | [1] |
Interest coverage ratio (EBITDA/interest expense) | 3 | |
New Facility [Member] | ||
Standby fee per annum on undrawn amounts | 0.50% | |
New Facility [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Variable rate | 2.25% | |
New Facility [Member] | Minimum [Member] | Base Rate [Member] | ||
Variable rate | 1.25% | |
New Facility [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Variable rate | 3.25% | |
New Facility [Member] | Maximum [Member] | Base Rate [Member] | ||
Variable rate | 2.25% | |
[1] | The leverage ratio will change to 4.00:1 effective January 1, 2020. |
Note 7 - Debt, Credit Facilit_6
Note 7 - Debt, Credit Facilities and Capital Leases - Annual Maturities of Capital Lease Commitments, Including Interest (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
2,019 | $ 5,745 | |
2,020 | 4,480 | |
2,021 | 3,052 | |
2,022 | 733 | |
2,023 | 23 | |
Total | 14,033 | |
Less: imputed interest | (898) | |
Net capital lease obligation | 13,135 | $ 11,800 |
Current portion of capital leases | 5,264 | 5,608 |
Long-term capital leases | $ 7,871 | $ 6,193 |
Note 8 - Commitments, Conting_2
Note 8 - Commitments, Contingencies, and Obligations (Details Textual) $ in Millions | Apr. 12, 2013USD ($) | Oct. 31, 2018USD ($) | Jul. 31, 2018USD ($) | Aug. 31, 2012USD ($) | Jun. 30, 2011USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2014USD ($) | Mar. 05, 2018USD ($) | Mar. 05, 2018CAD ($) |
Environmental Remediation Expense | $ 6,119,000 | $ 6,701,000 | $ 5,721,000 | ||||||||||
Contractual Obligation, Total | 2,700,000 | ||||||||||||
Capital Leases, Future Minimum Payments Due, Total | 14,033,000 | ||||||||||||
Performance Obligation Commitments [Member] | |||||||||||||
Surety Bonds | 185,300,000 | ||||||||||||
Lucky Friday [Member] | |||||||||||||
Open Purchase Orders | 400,000 | ||||||||||||
Casa Berardi [Member] | |||||||||||||
Open Purchase Orders | 1,100,000 | ||||||||||||
Greens Creek [Member] | |||||||||||||
Open Purchase Orders | 1,600,000 | ||||||||||||
Nevada Operations [Member] | |||||||||||||
Open Purchase Orders | $ 10,900,000 | ||||||||||||
Senior Notes [Member] | |||||||||||||
Proceeds from Issuance of Debt | $ 500,000,000 | ||||||||||||
Debt Instrument, Increase (Decrease), Net, Total | $ 6,500,000 | ||||||||||||
Debt Instrument, Face Amount | $ 500,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.875% | ||||||||||||
Series 2018-A Senior Notes [Member] | |||||||||||||
Debt Instrument, Face Amount | $ 30,800,000 | $ 40 | |||||||||||
Debt Instrument, Issuance, Discount Rate | 0.58% | 0.58% | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.68% | 4.68% | |||||||||||
Canadian Assets of Klondex [Member] | |||||||||||||
Ownership Percentage | 13.00% | ||||||||||||
Lawsuit in Lincoln County, Montana Courts for Montanore Project [Member] | |||||||||||||
Surety Bonds | $ 1,100,000 | ||||||||||||
Lawsuit in Lincoln County, Montana Courts for Montanore Project [Member] | Subsidiaries [Member] | |||||||||||||
Loss Contingency, Damages Awarded, Value | $ 3,325,000 | ||||||||||||
Lawsuit filed in Ontario (Canada) Superior Court of Justice [Member] | Waterton Warrants [Member] | |||||||||||||
Class of Warrant or Right, Issued During Period, Value | 3,700,000 | ||||||||||||
Class of Warrant or Right, Warrants Entitled, Value | 8,900,000 | ||||||||||||
Johnny M Mine Area near San Mateo, New Mexico [Member] | |||||||||||||
Payment Of Response Costs | $ 1,100,000 | $ 1,100,000 | |||||||||||
Estimated Response Costs | $ 9,600,000 | 5,600,000 | |||||||||||
Environmental Remediation Expense | $ 5,600,000 | ||||||||||||
Johnny M Mine Area near San Mateo, New Mexico [Member] | Minimum [Member] | |||||||||||||
Estimated Alternative Response Costs | 0 | ||||||||||||
Johnny M Mine Area near San Mateo, New Mexico [Member] | Maximum [Member] | |||||||||||||
Estimated Alternative Response Costs | $ 221,000,000 | ||||||||||||
Carpenter Snow Creek Superfund Site, Cascade County, Montana [Member] | |||||||||||||
Estimated Response Costs | $ 4,500,000 | ||||||||||||
Estimated Future Response Cost | $ 100,000,000 |
Note 9 - Employee Benefit Pla_3
Note 9 - Employee Benefit Plans (Details Textual) - USD ($) | 1 Months Ended | 2 Months Ended | 12 Months Ended | |||||
Nov. 30, 2018 | Sep. 30, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Feb. 20, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 6.62% | 6.80% | ||||||
Defined Benefit Plan Assumed Long Term Rate Basis Spread | 1.00% | |||||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 10,565,000 | $ 7,227,000 | ||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 55.00% | |||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 5.00% | |||||||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 4,000 | 114,000 | $ 442,000 | |||||
Capital Accumulation 401(K) Plan [Member] | ||||||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 3,700,000 | 3,500,000 | $ 3,500,000 | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | |||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% | |||||||
Minimum [Member] | ||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 2.00% | |||||||
Minimum [Member] | Capital Accumulation 401(K) Plan [Member] | ||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 1.00% | |||||||
Maximum [Member] | ||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 50.00% | |||||||
Maximum [Member] | Capital Accumulation 401(K) Plan [Member] | ||||||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 50.00% | |||||||
Pension Plan [Member] | ||||||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 2,100,000 | $ 5,500,000 | $ 1,200,000 | $ 1,300,000 | ||||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 2,200,000 | |||||||
Supplemental Employee Retirement Plan [Member] | ||||||||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | 600,000 | |||||||
Common Stock [Member] | ||||||||
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount | 9,300,000 | $ 4,800,000 | ||||||
Nonoperating Income (Expense) [Member] | ||||||||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Except Service cost | $ 2,800,000 | |||||||
Subsequent Event [Member] | ||||||||
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets | 6.37% |
Note 9 - Employee Benefit Pla_4
Note 9 - Employee Benefit Plans - Change in Benefit Obligation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Benefit obligation at beginning of year | $ 147,023 | $ 132,270 | |
Service cost | 5,009 | 4,786 | $ 4,309 |
Interest cost | 5,508 | 5,356 | 5,229 |
Amendments | 2,571 | ||
Change due to mortality change | 2,713 | ||
Change due to discount rate change | (13,716) | 5,529 | |
Actuarial loss | 3,487 | 1,733 | |
Benefits paid | (5,386) | (5,222) | |
Benefit obligation at end of year | 144,638 | 147,023 | 132,270 |
Fair value of plan assets at beginning of year | 99,922 | 87,357 | |
Actual (loss) return on plan assets | (8,772) | 10,560 | |
Employer contributions | 10,565 | 7,227 | |
Benefits paid | (5,386) | (5,222) | |
Fair value of plan assets at end of year | 96,329 | 99,922 | $ 87,357 |
Underfunded status at end of year | $ (48,309) | $ (47,101) |
Note 9 - Employee Benefit Pla_5
Note 9 - Employee Benefit Plans - Amounts Recognized in the Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Current liabilities: | ||
Accrued benefit liability | $ (597) | $ (471) |
Non- current pension liability: | ||
Accrued benefit liability | (47,711) | (46,628) |
Accumulated other comprehensive loss | 46,248 | 42,243 |
Net amount recognized | $ (2,060) | $ (4,856) |
Note 9 - Employee Benefit Pla_6
Note 9 - Employee Benefit Plans - Benefit Obligation and Prepaid Benefit Costs Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Discount rate: net periodic pension cost | 3.83% | 4.14% |
Discount rate: projected benefit obligation | 4.59% | 3.83% |
Expected rate of return on plan assets | 6.62% | 6.80% |
Rate of compensation increase: net periodic pension cost | 2.00% | 2.00% |
Rate of compensation increase: projected benefit obligation | 2.00% | 2.00% |
Note 9 - Employee Benefit Pla_7
Note 9 - Employee Benefit Plans - Net Periodic Pension Cost (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Service cost | $ 5,009 | $ 4,786 | $ 4,309 |
Interest cost | 5,508 | 5,356 | 5,229 |
Expected return on plan assets | (6,536) | (5,849) | (5,299) |
Amortization of prior service benefit | 61 | (337) | (337) |
Amortization of net gain from earlier periods | 3,726 | 4,132 | 4,372 |
Net periodic pension cost | $ 7,768 | $ 8,088 | $ 8,274 |
Note 9 - Employee Benefit Pla_8
Note 9 - Employee Benefit Plans - Employee Allocations of Investments and Measurement Dates by Asset Category (Details) | Dec. 31, 2018 | Dec. 31, 2017 |
Hecla Mining Company Retirement Plan [Member] | ||
Allocation of investments | 100.00% | 100.00% |
Lucky Friday Pension Plan [Member] | ||
Allocation of investments | 100.00% | 100.00% |
Cash [Member] | Hecla Mining Company Retirement Plan [Member] | ||
Allocation of investments | 1.00% | |
Cash [Member] | Lucky Friday Pension Plan [Member] | ||
Allocation of investments | 1.00% | |
Large Cap US Equity [Member] | Hecla Mining Company Retirement Plan [Member] | ||
Allocation of investments | 15.00% | 19.00% |
Large Cap US Equity [Member] | Lucky Friday Pension Plan [Member] | ||
Allocation of investments | 15.00% | 18.00% |
Small Cap US Equity [Member] | Hecla Mining Company Retirement Plan [Member] | ||
Allocation of investments | 6.00% | 9.00% |
Small Cap US Equity [Member] | Lucky Friday Pension Plan [Member] | ||
Allocation of investments | 6.00% | 10.00% |
Debt Security, Government, Non-US [Member] | Hecla Mining Company Retirement Plan [Member] | ||
Allocation of investments | 23.00% | 27.00% |
Debt Security, Government, Non-US [Member] | Lucky Friday Pension Plan [Member] | ||
Allocation of investments | 23.00% | 26.00% |
Fixed Income Funds [Member] | Hecla Mining Company Retirement Plan [Member] | ||
Allocation of investments | 24.00% | 21.00% |
Fixed Income Funds [Member] | Lucky Friday Pension Plan [Member] | ||
Allocation of investments | 24.00% | 20.00% |
Real Estate [Member] | Hecla Mining Company Retirement Plan [Member] | ||
Allocation of investments | 15.00% | 14.00% |
Real Estate [Member] | Lucky Friday Pension Plan [Member] | ||
Allocation of investments | 17.00% | 15.00% |
Hedge Funds [Member] | Hecla Mining Company Retirement Plan [Member] | ||
Allocation of investments | 6.00% | 5.00% |
Hedge Funds [Member] | Lucky Friday Pension Plan [Member] | ||
Allocation of investments | 6.00% | 6.00% |
Common Stock [Member] | Hecla Mining Company Retirement Plan [Member] | ||
Allocation of investments | 10.00% | 5.00% |
Common Stock [Member] | Lucky Friday Pension Plan [Member] | ||
Allocation of investments | 8.00% | 5.00% |
Note 9 - Employee Benefit Pla_9
Note 9 - Employee Benefit Plans - Investment Policy Allocation (Details) | Dec. 31, 2018 |
Large Cap US Equity [Member] | |
Investment policy allocation | 17.00% |
Large Cap US Equity [Member] | Maximum [Member] | |
Investment policy allocation | 20.00% |
Small Cap US Equity [Member] | |
Investment policy allocation | 8.00% |
Small Cap US Equity [Member] | Maximum [Member] | |
Investment policy allocation | 10.00% |
Debt Security, Government, Non-US [Member] | |
Investment policy allocation | 25.00% |
Debt Security, Government, Non-US [Member] | Maximum [Member] | |
Investment policy allocation | 30.00% |
Fixed Income Funds [Member] | |
Investment policy allocation | 23.00% |
Fixed Income Funds [Member] | Maximum [Member] | |
Investment policy allocation | 28.00% |
Real Estate [Member] | |
Investment policy allocation | 15.00% |
Real Estate [Member] | Maximum [Member] | |
Investment policy allocation | 18.00% |
Absolute Return [Member] | |
Investment policy allocation | 5.00% |
Absolute Return [Member] | Maximum [Member] | |
Investment policy allocation | 7.00% |
Real Return [Member] | |
Investment policy allocation | 7.00% |
Real Return [Member] | Maximum [Member] | |
Investment policy allocation | 13.00% |
Note 9 - Employee Benefit Pl_10
Note 9 - Employee Benefit Plans - Fair Value by Asset Category (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Total fair value | $ 96,329 | $ 99,922 | $ 87,357 |
Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 77,653 | 79,557 | |
Lucky Friday Pension Plan [Member] | |||
Total fair value | 18,676 | 20,365 | |
Fair Value, Inputs, Level 1 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 52,223 | 51,300 | |
Fair Value, Inputs, Level 1 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | 11,970 | 12,626 | |
Fair Value, Inputs, Level 2 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | |||
Fair Value, Inputs, Level 2 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | |||
Fair Value, Inputs, Level 3 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | |||
Fair Value, Inputs, Level 3 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | |||
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 52,223 | 51,300 | |
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | 11,970 | 12,626 | |
Fair Value Measured at Net Asset Value Per Share [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 25,430 | 28,257 | |
Fair Value Measured at Net Asset Value Per Share [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | 6,706 | 7,739 | |
Interest-bearing Deposits [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 389 | 351 | |
Interest-bearing Deposits [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | 111 | 100 | |
Interest-bearing Deposits [Member] | Fair Value, Inputs, Level 1 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 389 | 351 | |
Interest-bearing Deposits [Member] | Fair Value, Inputs, Level 1 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | 111 | 100 | |
Interest-bearing Deposits [Member] | Fair Value, Inputs, Level 2 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | |||
Interest-bearing Deposits [Member] | Fair Value, Inputs, Level 2 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | |||
Interest-bearing Deposits [Member] | Fair Value, Inputs, Level 3 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | |||
Interest-bearing Deposits [Member] | Fair Value, Inputs, Level 3 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | |||
Common Stock [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 7,874 | 3,768 | |
Common Stock [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | 1,428 | 1,015 | |
Common Stock [Member] | Fair Value, Inputs, Level 1 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 7,874 | 3,768 | |
Common Stock [Member] | Fair Value, Inputs, Level 1 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | 1,428 | 1,015 | |
Common Stock [Member] | Fair Value, Inputs, Level 2 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | |||
Common Stock [Member] | Fair Value, Inputs, Level 2 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | |||
Common Stock [Member] | Fair Value, Inputs, Level 3 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | |||
Common Stock [Member] | Fair Value, Inputs, Level 3 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | |||
Mutual Funds [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 43,960 | 47,181 | |
Mutual Funds [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | 10,431 | 11,511 | |
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 43,960 | 47,181 | |
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | 10,431 | 11,511 | |
Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | |||
Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | |||
Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | |||
Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | |||
Real Estate Investments [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 11,926 | 11,154 | |
Real Estate Investments [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | 3,231 | 3,023 | |
Hedge Funds [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 4,283 | 4,247 | |
Hedge Funds [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | 1,149 | 1,140 | |
Common Collective Funds [Member] | Hecla Mining Company Retirement Plan [Member] | |||
Total fair value | 9,221 | 12,856 | |
Common Collective Funds [Member] | Lucky Friday Pension Plan [Member] | |||
Total fair value | $ 2,326 | $ 3,576 |
Note 9 - Employee Benefit Pl_11
Note 9 - Employee Benefit Plans - Future Benefit Payments (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2,019 | $ 6,835 |
2,020 | 7,598 |
2,021 | 7,775 |
2,022 | 8,396 |
2,023 | 8,710 |
Years 2024-2028 | $ 44,991 |
Note 9 - Employee Benefit Pl_12
Note 9 - Employee Benefit Plans - Accumulated Benefit Obligations (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Projected benefit obligation | $ 144,637 | $ 147,023 |
Accumulated benefit obligation | 140,350 | 141,775 |
Fair value of plan assets | $ 96,329 | $ 99,922 |
Note 9 - Employee Benefit Pl_13
Note 9 - Employee Benefit Plans - Pension and Benefit Plan Amounts Included in Accumulated Other Comprehensive Income (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Unamortized net (gain)/loss | $ 44,645 |
Unamortized prior service cost | $ 1,603 |
Note 9 - Employee Benefit Pl_14
Note 9 - Employee Benefit Plans - Components of Net Periodic Benefit Cost to be Recognized Over Next Fiscal Year (Details) - Amounts Expected to be Recognized in 2018 [Member] $ in Thousands | Dec. 31, 2018USD ($) |
Amortization of net loss | $ 4,389 |
Amortization of prior service benefit | $ 61 |
Note 10 - Stockholders' Equit_2
Note 10 - Stockholders' Equity (Details Textual) | Jul. 20, 2018$ / sharesshares | Dec. 31, 2018USD ($)$ / shares$ / itemshares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)shares | Dec. 31, 2018USD ($)$ / shares$ / itemshares | Dec. 31, 2018USD ($)$ / shares$ / itemshares | Feb. 19, 2019$ / shares | Feb. 23, 2016USD ($) | May 08, 2012shares | Jun. 30, 2010shares |
Common Stock, Shares Authorized | 750,000,000 | 750,000,000 | 750,000,000 | 750,000,000 | ||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.25 | $ 0.25 | $ 0.25 | $ 0.25 | ||||||
Common Stock, Shares, Issued, Total | 482,603,937 | 399,176,425 | 482,603,937 | 482,603,937 | ||||||
Treasury Stock, Shares, Ending Balance | 5,226,791 | 4,529,450 | 5,226,791 | 5,226,791 | ||||||
Common Stock, Shares, Outstanding, Ending Balance | 482,603,937 | 399,176,425 | 482,603,937 | 482,603,937 | ||||||
Average Realized Silver Price, Minimum Dividend, Threshold | $ / item | 30 | 30 | 30 | |||||||
Stock Issued During Period, Shares, New Issues | 2,564,767 | 7,173,614 | ||||||||
Stock Issued During Period, Value, New Issues | $ | $ 6,746,000 | $ 9,611,000 | $ 8,121,000 | $ 24,500,000 | ||||||
Payments for Brokerage Fees | $ | $ 100,000 | $ 600,000 | ||||||||
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | ||||||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.25 | $ 0.25 | $ 0.25 | $ 0.25 | ||||||
Preferred Stock, Shares Outstanding, Ending Balance | 157,816 | 157,816 | 157,816 | 157,816 | 157,816 | |||||
Percent of Shareholders' Consent Needed to Create or Issue Stock Ranking Senior to Series B Preferred Stock | 66.67% | 66.67% | 66.67% | |||||||
Preferred Stock, Liquidation Preference, Value | $ | $ 7,891,000 | $ 7,891,000 | $ 7,891,000 | $ 7,891,000 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ | $ 4,500,000 | $ 4,500,000 | $ 4,500,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 2,689,468 | 2,095,318 | 2,689,468 | 2,689,468 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Measurement Period Used to Value Performance-based Awards | 3 years | |||||||||
Class of Warrant or Right, Outstanding | 0 | 0 | 0 | 0 | 0 | |||||
Klondex Mines Ltd [Member] | ||||||||||
Stock Issued During Period, Shares, New Issues | 75,276,176 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 8.02 | |||||||||
Warrants in Connection with Klondex Mines Acquisition [Member] | ||||||||||
Class of Warrant or Right, Issued During Period | 4,136,000 | |||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | |||||||||
Warrants in Connection with Klondex Mines Acquisition Expiring April 2032 [Member] | ||||||||||
Class of Warrant or Right, Outstanding | 2,068,000 | |||||||||
Warrants in Connection with Klondex Mines Acquisition Expiring February 2029 [Member] | ||||||||||
Class of Warrant or Right, Outstanding | 2,068,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.57 | |||||||||
Satisfy Withholding Obligations [Member] | ||||||||||
Treasury Stock Acquired, Average Cost Per Share | $ / shares | $ 3.86 | $ 4.88 | ||||||||
Stock Repurchased During Period, Shares | 697,341 | 588,240 | ||||||||
Stock Repurchased During Period, Value | $ | $ 2,700,000 | $ 2,900,000 | ||||||||
2010 Stock Incentive Plan [Member] | ||||||||||
Allocated Share-based Compensation Expense, Total | $ | $ 532,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 20,000,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,267,759 | 3,267,759 | 3,267,759 | |||||||
2010 Stock Incentive Plan [Member] | Non-Employee Directors [Member] | ||||||||||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 120,911 | |||||||||
Directors Stock Plan [Member] | ||||||||||
Allocated Share-based Compensation Expense, Total | $ | $ 593,000 | $ 774,000 | $ 271,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,120,707 | 3,120,707 | 3,120,707 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Method of Measuring Cost of Award Participant, Numerator | $ | $ 120,000 | |||||||||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 161,630 | 156,122 | 68,462 | |||||||
Stock Compensation Plan [Member] | ||||||||||
Allocated Share-based Compensation Expense, Total | $ | $ 6,300,000 | $ 6,300,000 | $ 6,200,000 | |||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||
Allocated Share-based Compensation Expense, Total | $ | 3,800,000 | |||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ | 5,900,000 | $ 5,900,000 | $ 5,900,000 | |||||||
Restricted Stock Units (RSUs) [Member] | Expense Recognized Over Remaining Vesting Period [Member] | ||||||||||
Allocated Share-based Compensation Expense, Total | $ | 5,200,000 | |||||||||
Performance Shares [Member] | ||||||||||
Allocated Share-based Compensation Expense, Total | $ | 400,000 | 500,000 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ | $ 900,000 | $ 900,000 | $ 900,000 | |||||||
Series B Preferred Stock [Member] | ||||||||||
Preferred Stock, Dividend Rate, Per-Dollar-Amount | $ / shares | $ 3.50 | |||||||||
Preferred Stock, Redemption Price Per Share | $ / shares | 50 | $ 50 | $ 50 | |||||||
Preferred Stock, Liquidation Preference Per Share | $ / shares | $ 50 | $ 50 | $ 50 | |||||||
Preferred Stock, Liquidation Preference, Value | $ | $ 7,900,000 | $ 7,900,000 | $ 7,900,000 | $ 7,900,000 | ||||||
Preferred Stock, Voting Rights | 1 | |||||||||
Preferred Stock Conversion Price | $ / shares | $ 15.55 | $ 15.55 | $ 15.55 | |||||||
Preferred Stock Conversion Rate | $ / shares | $ 3.2154 | $ 3.2154 | $ 3.2154 | |||||||
Common Stock Repurchase Program [Member] | ||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 20,000,000 | |||||||||
Cumulative Stock Repurchased | 934,100 | 934,100 | 934,100 | |||||||
Treasury Stock Acquired, Average Cost Per Share | $ / shares | $ 3.99 | |||||||||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 19,100,000 | 19,100,000 | 19,100,000 | |||||||
Common Stock Repurchase Program [Member] | Subsequent Event [Member] | ||||||||||
Share Price | $ / shares | $ 2.92 | |||||||||
Minimum [Member] | ||||||||||
Common Stock, Dividends, Per Share, Declared | $ / shares | $ 0.01 | |||||||||
Maximum [Member] | ||||||||||
Common Stock, Aggregate Offering Price | $ | $ 75,000,000 |
Note 10 - Stockholders' Equit_3
Note 10 - Stockholders' Equity - Common Stock Dividend Policy (Details) | 12 Months Ended |
Dec. 31, 2018$ / shares$ / item | |
Quarterly Average Realized Price, Level 1 [Member] | |
Quarterly average realized silver price per ounce (in USD per Per Share) | $ / item | 30 |
Quarterly dividend per share (in dollars per share) | $ 0.01 |
Annual dividend per share (in dollars per share) | $ 0.04 |
Quarterly Average Realized Price, Level 2 [Member] | |
Quarterly average realized silver price per ounce (in USD per Per Share) | $ / item | 35 |
Quarterly dividend per share (in dollars per share) | $ 0.02 |
Annual dividend per share (in dollars per share) | $ 0.08 |
Quarterly Average Realized Price, Level 3 [Member] | |
Quarterly average realized silver price per ounce (in USD per Per Share) | $ / item | 40 |
Quarterly dividend per share (in dollars per share) | $ 0.03 |
Annual dividend per share (in dollars per share) | $ 0.12 |
Quarterly Average Realized Price, Level 4 [Member] | |
Quarterly average realized silver price per ounce (in USD per Per Share) | $ / item | 45 |
Quarterly dividend per share (in dollars per share) | $ 0.04 |
Annual dividend per share (in dollars per share) | $ 0.16 |
Quarterly Average Realized Price, Level 5 [Member] | |
Quarterly average realized silver price per ounce (in USD per Per Share) | $ / item | 50 |
Quarterly dividend per share (in dollars per share) | $ 0.05 |
Annual dividend per share (in dollars per share) | $ 0.20 |
Quarterly Average Realized Price, Level 6 [Member] | |
Quarterly average realized silver price per ounce (in USD per Per Share) | $ / item | 55 |
Quarterly dividend per share (in dollars per share) | $ 0.06 |
Annual dividend per share (in dollars per share) | $ 0.24 |
Quarterly Average Realized Price, Level 7 [Member] | |
Quarterly average realized silver price per ounce (in USD per Per Share) | $ / item | 60 |
Quarterly dividend per share (in dollars per share) | $ 0.07 |
Annual dividend per share (in dollars per share) | $ 0.28 |
Note 10 - Stockholders' Equit_4
Note 10 - Stockholders' Equity - Common Stock Dividends Declared by Our Board of Directors (Details) $ / shares in Units, $ in Millions | Dec. 31, 2018USD ($)$ / shares |
Declared February 20, 2016 [Member] | |
Silver-price-linked component per share (in dollars per share) | |
Minimum annual component per share (in dollars per share) | 0.0025 |
Total dividend per share (in dollars per share) | $ 0.0025 |
Total dividend amount (in Dollars) | $ | $ 1 |
Declared February 17, 2015 [Member] | |
Total dividend amount (in Dollars) | $ | $ 0.9 |
Declared May 4, 2016 [Member] | |
Silver-price-linked component per share (in dollars per share) | |
Minimum annual component per share (in dollars per share) | 0.0025 |
Total dividend per share (in dollars per share) | $ 0.0025 |
Total dividend amount (in Dollars) | $ | $ 1 |
Declared May 6, 2015 [Member] | |
Total dividend amount (in Dollars) | $ | $ 1 |
Declared August 3, 2016 [Member] | |
Silver-price-linked component per share (in dollars per share) | |
Minimum annual component per share (in dollars per share) | 0.0025 |
Total dividend per share (in dollars per share) | $ 0.0025 |
Total dividend amount (in Dollars) | $ | $ 1 |
Declared August 6, 2015 [Member] | |
Total dividend amount (in Dollars) | $ | $ 1 |
Declared November 4, 2016 [Member] | |
Silver-price-linked component per share (in dollars per share) | |
Minimum annual component per share (in dollars per share) | 0.0025 |
Total dividend per share (in dollars per share) | $ 0.0025 |
Total dividend amount (in Dollars) | $ | $ 1 |
Declared November 3, 2015 [Member] | |
Total dividend amount (in Dollars) | $ | $ 1 |
Declared February 21, 2017 [Member] | |
Silver-price-linked component per share (in dollars per share) | |
Minimum annual component per share (in dollars per share) | 0.0025 |
Total dividend per share (in dollars per share) | $ 0.0025 |
Total dividend amount (in Dollars) | $ | $ 1 |
Declared November 7, 2017 [Member] | |
Silver-price-linked component per share (in dollars per share) | |
Minimum annual component per share (in dollars per share) | 0.0025 |
Total dividend per share (in dollars per share) | $ 0.0025 |
Total dividend amount (in Dollars) | $ | $ 1.2 |
Declared February 14, 2018 [Member] | |
Silver-price-linked component per share (in dollars per share) | |
Minimum annual component per share (in dollars per share) | 0.0025 |
Total dividend per share (in dollars per share) | $ 0.0025 |
Total dividend amount (in Dollars) | $ | $ 1.2 |
Declared May 9,2018 [Member] | |
Silver-price-linked component per share (in dollars per share) | |
Minimum annual component per share (in dollars per share) | 0.0025 |
Total dividend per share (in dollars per share) | $ 0.0025 |
Declared May 4, 2017 [Member] | |
Total dividend amount (in Dollars) | $ | $ 1 |
Declared August 8, 2018 [Member] | |
Silver-price-linked component per share (in dollars per share) | |
Minimum annual component per share (in dollars per share) | 0.0025 |
Total dividend per share (in dollars per share) | $ 0.0025 |
Declared August 3, 2017 [Member] | |
Total dividend amount (in Dollars) | $ | $ 1.2 |
Declared November 6, 2018 [Member] | |
Silver-price-linked component per share (in dollars per share) | |
Minimum annual component per share (in dollars per share) | 0.0025 |
Total dividend per share (in dollars per share) | 0.0025 |
Declared February 20, 2019 [Member] | |
Silver-price-linked component per share (in dollars per share) | |
Minimum annual component per share (in dollars per share) | 0.0025 |
Total dividend per share (in dollars per share) | $ 0.0025 |
Note 10 - Stockholders' Equit_5
Note 10 - Stockholders' Equity - Unvested Restricted Stock (Details) | 12 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Unvested (in shares) | shares | 2,095,318 |
Unvested, weighted average fair value per share (in dollars per share) | $ / shares | $ 4.52 |
Granted (unvested) (in shares) | shares | 1,975,662 |
Granted (unvested), weighted average fair value per share (in dollars per share) | $ / shares | $ 3.53 |
Canceled (in shares) | shares | (196,594) |
Canceled, weighted average fair value per share (in dollars per share) | $ / shares | $ 3.48 |
Distributed (vested) (in shares) | shares | (1,184,918) |
Distributed (vested), weighted average fair value per share (in dollars per share) | $ / shares | $ 3.91 |
Unvested (in shares) | shares | 2,689,468 |
Unvested, weighted average fair value per share (in dollars per share) | $ / shares | $ 4.14 |
Note 10 - Stockholders' Equit_6
Note 10 - Stockholders' Equity - Unvested Units Expected to Vest (Details) - shares | Dec. 31, 2018 | Dec. 31, 2017 |
Units scheduled to vest (in shares) | 2,689,468 | 2,095,318 |
Share-based Compensation Award, Tranche One [Member] | ||
Units scheduled to vest (in shares) | 1,246,291 | |
Share-based Compensation Award, Tranche Two [Member] | ||
Units scheduled to vest (in shares) | 866,680 | |
Share-based Compensation Award, Tranche Three [Member] | ||
Units scheduled to vest (in shares) | 576,497 |
Note 11 - Derivative Instrume_3
Note 11 - Derivative Instruments (Details Textual) $ in Thousands, $ in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2018CAD ($) | Dec. 31, 2018MXN ($) | |
Maximum Allocation of Forecasted CAD-demonimated Operating Costs | 75.00% | 75.00% | 75.00% | |||
Forecasted CAD-denominated Operating Costs to be Hedged, Term | 5 years | |||||
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax, Ending Balance | $ 8,800 | |||||
Gain (Loss) on Sale of Derivatives | 40,253 | $ (21,250) | $ 4,423 | |||
Gain (Loss) on Components Excluded from Assessment of Foreign Currency Cash Flow Hedge Effectiveness | 1 | |||||
Derivative, Gain on Derivative | 8,100 | |||||
Derivative Liability, Fair Value, Amount Not Offset Against Collateral, Total | 9,400 | |||||
Derivative, Fair Value, Obligations Under the Agreements | 9,400 | |||||
Other Comprehensive Income (Loss) [Member] | ||||||
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | 3,700 | |||||
Foreign Exchange Contract [Member] | Other Current Assets [Member] | ||||||
Derivative Asset, Current | 23 | |||||
Foreign Exchange Contract [Member] | Other Current Liabilities [Member] | ||||||
Derivative Liability, Current | 3,700 | |||||
Foreign Exchange Contract [Member] | Other Noncurrent Liabilities [Member] | ||||||
Derivative Asset, Current | $ 4,900 | |||||
Foreign Exchange Contract [Member] | Casa Berardi [Member] | Maximum [Member] | United States of America, Dollars | ||||||
Derivative, Forward Exchange Rate | 1.3315 | 1.3315 | 1.3315 | |||
Foreign Exchange Contract [Member] | Casa Berardi [Member] | Designated as Hedging Instrument [Member] | ||||||
Derivative, Number of Instruments Held, Total | 107 | 107 | 107 | |||
Derivative, Notional Amount | $ 197,200 | $ 254.6 | ||||
Foreign Exchange Contract [Member] | Casa Berardi [Member] | Designated as Hedging Instrument [Member] | Minimum [Member] | United States of America, Dollars | ||||||
Derivative, Forward Exchange Rate | 1.2702 | 1.2702 | 1.2702 | |||
Foreign Exchange Contract [Member] | San Sebastian [Member] | Minimum [Member] | United States of America, Dollars | ||||||
Derivative, Forward Exchange Rate | 19.62 | 19.62 | 19.62 | |||
Foreign Exchange Contract [Member] | San Sebastian [Member] | Maximum [Member] | United States of America, Dollars | ||||||
Derivative, Forward Exchange Rate | 20.855 | |||||
Foreign Exchange Contract [Member] | San Sebastian [Member] | Designated as Hedging Instrument [Member] | ||||||
Derivative, Number of Instruments Held, Total | 24 | 24 | 24 | |||
Derivative, Notional Amount | $ 6,500 | $ 131.4 | ||||
Commodity Contract [Member] | Other Noncurrent Liabilities [Member] | ||||||
Derivative Asset, Current | 200 | |||||
Derivative Assets, Noncurrent, Total | 400 | |||||
Derivative Liability, Noncurrent | 500 | |||||
Unsettled Concentrate Sales Contracts [Member] | ||||||
Derivative, Gain on Derivative | 8,100 | |||||
Forecasted Future Concentrate Contracts [Member] | ||||||
Derivative, Gain on Derivative | $ 32,800 | $ 40,300 |
Note 11 - Derivative Instrume_4
Note 11 - Derivative Instruments - Summary of Forward Sales Contracts (Details) oz in Thousands, lb in Thousands | 12 Months Ended | |
Dec. 31, 2018lboz$ / oz$ / lb | Dec. 31, 2017lboz$ / oz$ / lb | |
Silver 2018 Settlements for Provisional Sales [Member] | ||
Ounces/pounds under contract (Ounce) | oz | 842 | 1,447 |
Average price per ounce/pound (in USD per Ounce) | $ / oz | 14.69 | 16.64 |
Gold 2018 Settlements for Provisional Sales [Member] | ||
Ounces/pounds under contract (Ounce) | oz | 4 | 5 |
Average price per ounce/pound (in USD per Ounce) | $ / oz | 1,260 | 1,279 |
Zinc 2018 Settlements for Provisional Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 18,450 | 21,550 |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.15 | 1.45 |
Lead 2018 Settlements for Provisional Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 2,700 | 4,740 |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 0.89 | 1.11 |
Zinc 2018 Settlements for Forecasted Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 32,187 | |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.29 | |
Lead 2018 Settlements for Forecasted Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 16,645 | |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.06 | |
Zinc 2019 Settlements for Forecasted Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 23,589 | |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.33 | |
Lead 2019 Settlements for Forecasted Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 18,078 | |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.09 | |
Zinc 2020 Settlements for Forecasted Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 3,307 | |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.27 | |
Lead 2020 Settlements for Forecasted Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 2,866 | |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.08 |
Note 12 - Business Segments, _3
Note 12 - Business Segments, Sales of Products and Significant Customers (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018USD ($)ozT | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Number of Reportable Segments | 5 | ||
Derivative, Gain on Derivative | $ 8,100 | ||
Derivative, Loss on Derivative | $ 6,000 | $ 14,200 | |
Accounts Receivable, Net, Current, Total | 4,184 | 14,805 | |
Allowance for Doubtful Accounts Receivable, Ending Balance | 0 | ||
Employee Labor Strike Related Costs | 20,693 | 21,301 | |
Lucky Friday [Member] | |||
Long-Lived Assets | $ 435,600 | ||
Estimated Mine Life | 17 years | ||
Lucky Friday [Member] | Suspension Costs [Member] | |||
Employee Labor Strike Related Costs | $ 14,600 | 17,100 | |
Lucky Friday [Member] | Non-cash Depreciation Expense [Member] | |||
Employee Labor Strike Related Costs | $ 5,000 | $ 4,200 | |
Silver [Member] | |||
Metals Contained in Concentrates | oz | 1,000,000 | ||
Gold [Member] | |||
Metals Contained in Concentrates | oz | 3,658 | ||
Zinc [Member] | |||
Metals Contained in Concentrates | T | 10,689 | ||
Lead [Member] | |||
Metals Contained in Concentrates | T | 1,572 |
Note 12 - Business Segments and
Note 12 - Business Segments and Sales of Products - Information About Reportable Segments (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Net sales | $ 567,137 | $ 577,775 | $ 645,957 | |
Income (loss) from operations | [1] | (39,126) | 60,106 | 109,439 |
Capital additions (including non-cash additions) | 146,451 | 105,752 | 181,799 | |
Depreciation, depletion and amortization | [1] | 134,044 | 120,599 | 123,631 |
Other significant non-cash items | [1] | (9,542) | 57,463 | 16,323 |
Identifiable assets | [1] | 2,703,944 | 2,345,158 | 2,355,795 |
Greens Creek [Member] | ||||
Net sales | 265,650 | 278,297 | 260,446 | |
Income (loss) from operations | 70,293 | 70,132 | 65,125 | |
Capital additions (including non-cash additions) | 43,631 | 35,255 | 42,013 | |
Depreciation, depletion and amortization | 46,511 | 56,328 | 53,222 | |
Other significant non-cash items | 3,325 | 2,685 | 2,736 | |
Identifiable assets | 637,386 | 671,960 | 681,303 | |
Lucky Friday [Member] | ||||
Net sales | 9,750 | 21,555 | 94,479 | |
Income (loss) from operations | (20,199) | (16,037) | 18,175 | |
Capital additions (including non-cash additions) | 14,236 | 6,268 | 44,839 | |
Depreciation, depletion and amortization | 1,012 | 2,447 | 11,810 | |
Other significant non-cash items | 618 | 2,011 | 720 | |
Identifiable assets | 437,499 | 432,400 | 442,829 | |
Casa Berardi [Member] | ||||
Net sales | 210,339 | 192,165 | 177,143 | |
Income (loss) from operations | [1] | 881 | (534) | 8,831 |
Capital additions (including non-cash additions) | 39,816 | 51,327 | 67,577 | |
Depreciation, depletion and amortization | [1] | 71,302 | 59,131 | 54,817 |
Other significant non-cash items | [1] | 696 | 33 | 1,072 |
Identifiable assets | [1] | 754,248 | 784,706 | 790,162 |
San Sebastian [Member] | ||||
Net sales | 50,224 | 85,758 | 113,889 | |
Income (loss) from operations | (14) | 53,591 | 77,221 | |
Capital additions (including non-cash additions) | 8,492 | 9,994 | 6,026 | |
Depreciation, depletion and amortization | 4,602 | 2,693 | 3,782 | |
Other significant non-cash items | 419 | 468 | ||
Identifiable assets | 44,152 | 62,198 | 33,608 | |
Nevada Operations [Member] | ||||
Net sales | 31,174 | |||
Income (loss) from operations | (26,715) | |||
Capital additions (including non-cash additions) | 35,721 | |||
Depreciation, depletion and amortization | 10,617 | |||
Other significant non-cash items | 8,758 | |||
Identifiable assets | 581,194 | |||
Other Segments [Member] | ||||
Income (loss) from operations | (63,372) | (47,046) | (59,913) | |
Capital additions (including non-cash additions) | 4,555 | 2,908 | 21,344 | |
Other significant non-cash items | (23,358) | 52,266 | 11,795 | |
Identifiable assets | $ 249,465 | $ 393,894 | $ 407,893 | |
[1] | Amounts reported as of and for the years ended December 31, 2017 and 2016 have been revised. See Note 2 for more information. |
Note 12 - Business Segments, _4
Note 12 - Business Segments, Sales of Products and Significant Customers - Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | |
Long-lived assets | [1] | $ 2,520,004 | $ 1,999,311 |
UNITED STATES | |||
Long-lived assets | 1,797,441 | 1,248,824 | |
CANADA | |||
Long-lived assets | 707,473 | 743,779 | |
MEXICO | |||
Long-lived assets | $ 15,090 | $ 6,708 | |
[1] | Amounts reported as of and for the years ended December 31, 2017 and 2016 have been revised. See Note 2 for more information. |
Note 12 - Business Segments, _5
Note 12 - Business Segments, Sales of Products and Significant Customers - Percentage of Sales by Segments (Details) - Sales Revenue, Net [Member] | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Percentage of sales | 100.00% | 100.00% | 100.00% |
Greens Creek [Member] | |||
Percentage of sales | 46.70% | 48.10% | 40.30% |
Lucky Friday [Member] | |||
Percentage of sales | 1.80% | 3.80% | 14.70% |
Casa Berardi [Member] | |||
Percentage of sales | 37.10% | 33.30% | 27.40% |
San Sebastian [Member] | |||
Percentage of sales | 8.90% | 14.80% | 17.60% |
Nevada Operations [Member] | |||
Percentage of sales | 5.50% |
Note 12 - Business Segments, _6
Note 12 - Business Segments, Sales of Products and Significant Customers - Sales of Products (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Sales of products | $ 567,137 | $ 577,775 | $ 645,957 |
Less: Smelter and refining charges | (24,177) | (36,477) | (64,111) |
Sales by significant product type | 559,053 | 583,758 | 660,193 |
Silver [Member] | |||
Sales of products | 144,609 | 194,813 | 274,438 |
Doré and Metals from Doré [Member] | |||
Sales by significant product type | 311,567 | 295,176 | 313,784 |
Gold [Member] | |||
Sales of products | 313,076 | 277,421 | 276,630 |
Lead Concentrate [Member] | |||
Sales by significant product type | 148,880 | 179,143 | 250,153 |
Lead [Member] | |||
Sales of products | 33,829 | 37,995 | 63,942 |
Zinc Concentrate [Member] | |||
Sales by significant product type | 80,938 | 88,688 | 82,872 |
Zinc [Member] | |||
Sales of products | 99,800 | 104,023 | 95,058 |
Bulk Concentrate [Member] | |||
Sales by significant product type | $ 17,668 | $ 20,751 | $ 13,384 |
Note 12 - Business Segments, _7
Note 12 - Business Segments, Sales of Products and Significant Customers - Sales by Geographic Area (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Sales by geographical area | $ 559,053 | $ 583,758 | $ 660,193 |
UNITED STATES | |||
Sales by geographical area | 48,437 | 16,806 | 22,499 |
CANADA | |||
Sales by geographical area | 322,402 | 358,663 | 437,621 |
JAPAN | |||
Sales by geographical area | 42,885 | 58,475 | 44,158 |
KOREA, REPUBLIC OF | |||
Sales by geographical area | 145,263 | 80,183 | 116,687 |
CHINA | |||
Sales by geographical area | 66 | 69,631 | 35,220 |
Other Geographic Areas [Member] | |||
Sales by geographical area | $ 4,008 |
Note 12 - Business Segments, _8
Note 12 - Business Segments, Sales of Products and Significant Customers - Sales from Continuing Operations to Significant Metals Customers As a Percentage of Total Sales (Details) - Sales Revenue, Goods, Net [Member] - Customer Concentration Risk [Member] | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Teck Metals Ltd [Member] | |||
Significant metal customers | 8.40% | 11.30% | 21.20% |
Korea Zinc [Member] | |||
Significant metal customers | 17.80% | 16.40% | 16.90% |
Scotia [Member] | |||
Significant metal customers | 15.30% | 24.90% | 24.50% |
CIBC [Member] | |||
Significant metal customers | 29.70% | 22.80% | 19.00% |
Note 13 - Fair Value Measurem_3
Note 13 - Fair Value Measurement (Details Textual) - Senior Notes [Member] $ in Millions | Dec. 31, 2018USD ($) |
Notes Payable, Total | $ 503.5 |
Fair Value, Inputs, Level 1 [Member] | |
Notes Payable, Fair Value Disclosure | $ 500 |
Note 13 - Fair Value Measurem_4
Note 13 - Fair Value Measurement - Assets and Liabilities Accounted for at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Receivables from provisional concentrate sales | $ 7,443 | $ 7,003 |
Fair Value, Measurements, Recurring [Member] | ||
Certificates of deposit and other bank deposits | 1,025 | 1,032 |
Total assets | 39,413 | 248,206 |
Total liabilities | 8,968 | 15,531 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Money market funds and other bank deposits | 27,389 | 186,107 |
Equity securities – mining industry | 6,583 | 7,561 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Debt securities – municipal and corporate bonds | 33,758 | |
Receivables from provisional concentrate sales | 4,184 | 14,805 |
Metal forward contracts | 209 | |
Foreign exchange contracts | 23 | 4,943 |
Metal forward contracts | 373 | 15,531 |
Foreign exchange contracts | $ 8,595 |
Note 14 - Income (Loss) Per C_3
Note 14 - Income (Loss) Per Common Share (Details Textual) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2018 | Dec. 31, 2017 | |
Common Stock, Shares Authorized | 750,000,000 | 750,000,000 | |
Common Stock, Par or Stated Value Per Share | $ 0.25 | $ 0.25 | |
Common Stock, Shares, Issued, Total | 482,603,937 | 399,176,425 | |
Treasury Stock, Shares, Ending Balance | 5,226,791 | 4,529,450 | |
Common Stock, Shares, Outstanding, Ending Balance | 482,603,937 | 399,176,425 | |
Preferred Stock, Shares Outstanding, Ending Balance | 157,816 | 157,816 | 157,816 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 0 | 0 | 0 |
Class of Warrant or Right, Outstanding | 0 | 0 | 0 |
Restricted Stock Units (RSUs) [Member] | |||
Incremental Common Shares Attributable to Share-based Payment Arrangements, Total | 4,309,440 | ||
Deferred Shares [Member] | |||
Incremental Common Shares Attributable to Share-based Payment Arrangements, Total | 635,602 |
Note 14 - Income (Loss) Per C_4
Note 14 - Income (Loss) Per Common Share - Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net income (loss) | $ (26,563) | $ (28,520) | $ 61,569 |
Series B Preferred Stock dividends declared | (552) | (552) | (552) |
Net income (loss) applicable to common shares | $ (27,115) | $ (29,072) | $ 61,017 |
Weighted average number of common shares outstanding – basic (in shares) | 433,419 | 397,394 | 386,416 |
Dilutive stock options, restricted stock units, and warrants (in shares) | 2,906 | ||
Diluted weighted average common shares (in shares) | 433,419 | 397,394 | 389,322 |
Basic (loss) income per common share after preferred dividends (in dollars per share) | $ (0.06) | $ (0.07) | $ 0.16 |
Diluted (loss) income per common share after preferred dividends (in dollars per share) | $ (0.06) | $ (0.07) | $ 0.16 |
Note 15 - Accumulated Other C_3
Note 15 - Accumulated Other Comprehensive Loss (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total | $ (17,807) | $ 11,229 | $ (1,971) |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, before Tax, Total | 200 | 1,000 | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Impact of Adoption of Accounting Standard Update | (1,300) | ||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total | $ (2,443) | $ 2,265 | $ 2,613 |
Note 15 - Accumulated Other C_4
Note 15 - Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance | $ 1,461,277 | $ 1,462,240 | $ 1,329,300 |
Change, net of tax | (17,807) | 11,229 | (1,971) |
Balance | 1,690,963 | 1,461,277 | 1,462,240 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Balance | 3,719 | 1,454 | (1,159) |
Change, net of tax | (2,443) | 2,265 | 2,613 |
Impact of Adoption of Accounting Standard Update | (1,300) | ||
Balance | (13) | 3,719 | 1,454 |
Balance, tax | 1,791 | 627 | 631 |
Change, tax | (1,791) | 1,164 | (4) |
Balance, tax | 1,791 | 627 | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Accounting Standards Update 2016-01 [Member] | |||
Impact of Adoption of Accounting Standard Update | (1,289) | ||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||
Balance | 5,030 | (5,260) | |
Change, net of tax | (13,814) | 10,290 | (5,260) |
Impact of Adoption of Accounting Standard Update | |||
Balance | (8,784) | 5,030 | (5,260) |
Balance, tax | |||
Change, tax | |||
Balance, tax | |||
Accumulated Defined Benefit Plans Adjustment, Net Transition Attributable to Parent [Member] | |||
Balance | (32,122) | (30,796) | (31,472) |
Change, net of tax | (1,550) | (1,326) | 676 |
Impact of Adoption of Accounting Standard Update | |||
Balance | (33,672) | (32,122) | (30,796) |
Balance, tax | 10,120 | 10,120 | 10,630 |
Change, tax | 2,455 | (510) | |
Balance, tax | 12,575 | 10,120 | 10,120 |
AOCI Attributable to Parent [Member] | |||
Balance | (23,373) | (34,602) | (32,631) |
Change, net of tax | (17,807) | 11,229 | (1,971) |
Impact of Adoption of Accounting Standard Update | (1,289) | ||
Balance | (42,469) | (23,373) | (34,602) |
Balance, tax | 11,911 | 10,747 | 11,261 |
Change, tax | 664 | 1,164 | (514) |
Balance, tax | $ 12,575 | $ 11,911 | $ 10,747 |
Note 16 - Acquisitions (Details
Note 16 - Acquisitions (Details Textual) $ / shares in Units, $ / shares in Units, $ in Thousands, $ in Millions | Jul. 20, 2018USD ($)$ / sharesshares | Jul. 19, 2018shares | Sep. 13, 2016USD ($)$ / sharesshares | Jun. 27, 2016CAD ($)$ / sharesshares | Sep. 30, 2016USD ($)shares | Jun. 30, 2015USD ($)$ / sharesshares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2018USD ($)shares |
Common Stock, Shares, Issued, Total | shares | 482,603,937 | 399,176,425 | 482,603,937 | |||||||
Stock Issued During Period, Shares, New Issues | shares | 2,564,767 | 7,173,614 | ||||||||
Class of Warrant or Right, Outstanding | shares | 0 | 0 | 0 | 0 | ||||||
Business Combination, Acquisition Related Costs | $ 10,045 | $ 25 | $ 2,695 | |||||||
Common Stock, Shares, Outstanding, Ending Balance | shares | 482,603,937 | 399,176,425 | 482,603,937 | |||||||
Warrants in Connection with Klondex Mines Acquisition [Member] | ||||||||||
Class of Warrant or Right, Issued During Period | shares | 4,136,000 | |||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares | 1 | |||||||||
Warrants in Connection with Klondex Mines Acquisition Expiring April 2032 [Member] | ||||||||||
Class of Warrant or Right, Outstanding | shares | 2,068,000 | |||||||||
Warrants in Connection with Klondex Mines Acquisition Expiring February 2029 [Member] | ||||||||||
Class of Warrant or Right, Outstanding | shares | 2,068,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.57 | |||||||||
Klondex Mines Ltd [Member] | ||||||||||
Common Stock, Shares, Issued, Total | shares | 182,048,945 | 180,499,319 | ||||||||
Stock Issued During Period, Shares, New Issues | shares | 1,549,626 | |||||||||
Common Stock, Shares, Outstanding, Ending Balance | shares | 182,048,945 | 180,499,319 | ||||||||
Klondex Mines Ltd [Member] | ||||||||||
Business Acquisition, Share Price | $ / shares | $ 2.24 | |||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | |||||||||
Business Combination, Consideration, Cash Alternative, Price Per Share | $ / shares | $ 2.47 | |||||||||
Business Combination, Consideration, Share Alternative, Share Exchange Rate | 0.6272 | |||||||||
Business Combination Consideration, Combined Alternative, Price Per Share | $ / shares | $ 0.8411 | |||||||||
Business Combination Consideration, Combined Alternative, Share Exchange Rate | 0.4136 | |||||||||
Payments to Acquire Businesses, Gross | $ 161,704 | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 75,276,176 | |||||||||
Stock Issued During Period, Shares, New Issues | shares | 75,276,176 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 8.02 | |||||||||
Employee Service Share-based Compensation, Cash Flow Effect, Cash Used to Settle Awards | $ 2,000 | |||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 242,389 | |||||||||
Business Combination, Consideration Transferred, Total | 414,248 | |||||||||
Business Combination, Subscrition of New Formed Company, Value | 7,000 | |||||||||
Business Combination, Settlement of Certain Equity Compensation Value | 1,500 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | 521,495 | $ 19,200 | $ 19,200 | |||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 31,200 | |||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ 26,700 | |||||||||
Klondex Mines Ltd [Member] | Hecla Warrants [Member] | ||||||||||
Class of Warrant or Right, Issued During Period, Value | 10,200 | |||||||||
Klondex Mines Ltd [Member] | Maximum [Member] | ||||||||||
Payments to Acquire Businesses, Gross | $ 153,200 | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 75,276,176 | |||||||||
Revett Mining Company, Inc. [Member] | ||||||||||
Business Acquisition, Share Price | $ / shares | $ 5.79 | |||||||||
Payments to Acquire Businesses, Gross | $ 4,025 | $ 4,000 | ||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 8,309,006 | 8,309,006 | ||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 48,109 | $ 48,100 | ||||||||
Business Combination, Consideration Transferred, Total | 52,134 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | $ 74,320 | $ 74,300 | ||||||||
Ownership Percentage | 100.00% | |||||||||
Business Acquistion, Number of Common Stock Shares Exchanged for Each Share of Acquiree Common Stock | shares | 0.2218 | |||||||||
Business Acquisition, Common Shares Outstanding of Acquiree | shares | 36,498,625 | |||||||||
Business Acquisition, Shares Owned by Subsidary, Number of Shares Cancelled | shares | 963,079 | |||||||||
Business Acquisition Per Share Consideration | $ / shares | $ 5.79 | |||||||||
Revett Mining Company, Inc. [Member] | Plant and Equipment [Member] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | $ 800 | |||||||||
Revett Mining Company, Inc. [Member] | Land [Member] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | 100 | |||||||||
Revett Mining Company, Inc. [Member] | Mineral Interests [Member] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | $ 73,400 | |||||||||
Mines Management [Member] | ||||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 32 | |||||||||
Business Combination, Acquisition Related Costs, Shares Issued | shares | 181,048 | |||||||||
Business Combination, Acquisition Related Costs | $ 4,700 | |||||||||
Mines Management [Member] | Acquisition Costs [Member] | ||||||||||
Business Combination, Acquisition Related Costs | $ 1,000 | |||||||||
Dolly Varden [Member] | ||||||||||
Business Acquisition, Share Price | $ / shares | $ 0.69 | |||||||||
Business Combination, Consideration Transferred, Total | $ 13.6 | |||||||||
Ownership Percentage | 100.00% | |||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Shares | shares | 4,478,087 | |||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Warrants | shares | 1,351,762 | |||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 18.50% |
Note 16 - Acquisitions - Prelim
Note 16 - Acquisitions - Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands | Jul. 20, 2018 | Sep. 13, 2016 | Jun. 30, 2015 | Dec. 31, 2018 |
Klondex Mines Ltd [Member] | ||||
Payments to Acquire Businesses, Gross | $ 161,704 | |||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 242,389 | |||
Hecla warrants issued | 10,155 | |||
Total consideration | 414,248 | |||
Cash | 12,874 | |||
Accounts receivable | 3,453 | |||
Inventory - supplies | 6,564 | |||
Inventory - finished goods, in-process material and stockpiled ore | 10,302 | |||
Other current assets | 2,583 | |||
Properties, plants, equipment and mineral interests | 521,495 | $ 19,200 | ||
Non-current investments | 1,596 | |||
Non-current restricted cash and investments | 9,504 | |||
Total assets | 568,371 | |||
Accounts payable and accrued liabilities | 17,270 | |||
Accrued payroll and related benefits | 10,352 | |||
Accrued taxes | 421 | |||
Lease liability | 2,080 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt | 35,086 | |||
Asset retirement obligation | 19,571 | |||
Deferred tax liability | 69,343 | |||
Total liabilities | 154,123 | |||
Net assets | 414,248 | |||
Hecla stock issued (8,309,006 shares at $5.79 per share) | 242,389 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | $ 521,495 | $ 19,200 | ||
Revett Mining Company, Inc. [Member] | ||||
Payments to Acquire Businesses, Gross | $ 4,025 | $ 4,000 | ||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 48,109 | 48,100 | ||
Total consideration | 52,134 | |||
Cash | 94 | |||
Properties, plants, equipment and mineral interests | 74,320 | 74,300 | ||
Total assets | 75,928 | |||
Accounts payable and accrued liabilities | 2,357 | |||
Total liabilities | 23,794 | |||
Net assets | 52,134 | |||
Hecla stock issued (8,309,006 shares at $5.79 per share) | 48,109 | 48,100 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | 74,320 | $ 74,300 | ||
Restricted cash | 1,185 | |||
Other assets | 329 | |||
Deferred tax liability | 20,313 | |||
Non-current reclamation liability | $ 1,124 |
Note 16 - Acquisitions - Prel_2
Note 16 - Acquisitions - Preliminary Purchase Price Allocation (Details) (Parentheticals) - $ / shares | Jul. 20, 2018 | Sep. 13, 2016 | Jun. 30, 2015 |
Klondex Mines Ltd [Member] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 75,276,176 | ||
Stock Issued, per share (in dollars per share) | $ 3.22 | ||
Business Acquisition, Share Price | $ 2.24 | ||
Revett Mining Company, Inc. [Member] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 8,309,006 | 8,309,006 | |
Business Acquisition, Share Price | $ 5.79 |
Note 16 - Acquisitions - Pro Fo
Note 16 - Acquisitions - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net (loss) income | $ 68,778 | ||
(Loss) income applicable to common shareholders | $ 68,226 | ||
Basic and diluted (loss) income per common share (in dollars per share) | $ 0.17 | ||
Klondex Mines Ltd [Member] | |||
Sales | $ 680,261 | $ 785,859 | $ 834,789 |
Net (loss) income | (19,574) | (35,203) | 73,724 |
(Loss) income applicable to common shareholders | $ (20,126) | $ (35,755) | $ 73,172 |
Basic and diluted (loss) income per common share (in dollars per share) | $ (0.04) | $ (0.08) | $ 0.16 |
Revett Mining Company, Inc. [Member] | |||
Sales | $ 645,957 |
Note 17 - Guarantor Subsidiar_3
Note 17 - Guarantor Subsidiaries (Details Textual) | 12 Months Ended |
Dec. 31, 2018 | |
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions | 100.00% |
Note 17 - Guarantor Subsidiar_4
Note 17 - Guarantor Subsidiaries - Unaudited Interim Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2016 | Dec. 31, 2015 | |
Assets | ||||||
Cash and cash equivalents | $ 27,389 | $ 186,107 | ||||
Other current assets | 136,761 | 135,129 | ||||
Properties, plants, and equipment - net | [1] | 2,520,004 | 1,999,311 | |||
Intercompany receivable (payable) | ||||||
Investments in subsidiaries | ||||||
Other non-current assets | 19,790 | 24,611 | ||||
Total assets | [2] | 2,703,944 | 2,345,158 | $ 2,355,795 | ||
Liabilities and Stockholders' Equity | ||||||
Current liabilities | 136,194 | 112,130 | ||||
Long-term debt | 540,670 | 508,422 | ||||
Non-current portion of accrued reclamation | 104,979 | 79,366 | ||||
Non-current deferred tax liability | 173,537 | 124,352 | ||||
Other non-current liabilities | 57,601 | 59,611 | ||||
Stockholders' equity | 1,690,963 | 1,461,277 | $ 1,462,240 | $ 1,329,300 | $ 1,329,300 | |
Total liabilities and shareholders' equity | 2,703,944 | 2,345,158 | ||||
Reportable Legal Entities [Member] | Parent Company [Member] | ||||||
Assets | ||||||
Cash and cash equivalents | 6,265 | 103,878 | ||||
Other current assets | 6,388 | 47,555 | ||||
Properties, plants, and equipment - net | 1,913 | 1,946 | ||||
Intercompany receivable (payable) | 171,905 | 287,310 | ||||
Investments in subsidiaries | 1,577,564 | 1,358,025 | ||||
Other non-current assets | 276,641 | 14,409 | ||||
Total assets | 2,040,676 | 1,813,123 | ||||
Liabilities and Stockholders' Equity | ||||||
Current liabilities | (234,133) | (226,576) | ||||
Long-term debt | 532,799 | 502,229 | ||||
Non-current portion of accrued reclamation | ||||||
Non-current deferred tax liability | ||||||
Other non-current liabilities | 51,047 | 53,588 | ||||
Stockholders' equity | 1,690,963 | 1,483,882 | ||||
Total liabilities and shareholders' equity | 2,040,676 | 1,813,123 | ||||
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | ||||||
Assets | ||||||
Cash and cash equivalents | 8,661 | 31,016 | ||||
Other current assets | 69,574 | 47,608 | ||||
Properties, plants, and equipment - net | 1,795,994 | 1,244,161 | ||||
Intercompany receivable (payable) | (222,815) | (177,438) | ||||
Investments in subsidiaries | ||||||
Other non-current assets | 9,030 | 7,289 | ||||
Total assets | 1,660,444 | 1,152,636 | ||||
Liabilities and Stockholders' Equity | ||||||
Current liabilities | 118,863 | 66,550 | ||||
Long-term debt | 141,870 | 2,303 | ||||
Non-current portion of accrued reclamation | 94,602 | 67,565 | ||||
Non-current deferred tax liability | 64,639 | 10,120 | ||||
Other non-current liabilities | 5,659 | 5,185 | ||||
Stockholders' equity | 1,234,811 | 1,000,913 | ||||
Total liabilities and shareholders' equity | 1,660,444 | 1,152,636 | ||||
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | ||||||
Assets | ||||||
Cash and cash equivalents | 12,463 | 51,213 | ||||
Other current assets | 60,868 | 40,541 | ||||
Properties, plants, and equipment - net | 722,097 | 753,204 | ||||
Intercompany receivable (payable) | (171,834) | (341,182) | ||||
Investments in subsidiaries | ||||||
Other non-current assets | (122,969) | 9,283 | ||||
Total assets | 500,625 | 513,059 | ||||
Liabilities and Stockholders' Equity | ||||||
Current liabilities | 45,922 | 37,671 | ||||
Long-term debt | 1,989 | 3,890 | ||||
Non-current portion of accrued reclamation | 10,377 | 11,801 | ||||
Non-current deferred tax liability | 98,689 | 124,352 | ||||
Other non-current liabilities | 895 | 838 | ||||
Stockholders' equity | 342,753 | 334,507 | ||||
Total liabilities and shareholders' equity | 500,625 | 513,059 | ||||
Consolidation, Eliminations [Member] | ||||||
Assets | ||||||
Cash and cash equivalents | ||||||
Other current assets | (69) | (575) | ||||
Properties, plants, and equipment - net | ||||||
Intercompany receivable (payable) | 222,744 | 231,310 | ||||
Investments in subsidiaries | (1,577,564) | (1,358,025) | ||||
Other non-current assets | (142,912) | (6,370) | ||||
Total assets | (1,497,801) | (1,133,660) | ||||
Liabilities and Stockholders' Equity | ||||||
Current liabilities | 205,542 | 234,485 | ||||
Long-term debt | (135,988) | |||||
Non-current portion of accrued reclamation | ||||||
Non-current deferred tax liability | 10,209 | (10,120) | ||||
Other non-current liabilities | ||||||
Stockholders' equity | (1,577,564) | (1,358,025) | ||||
Total liabilities and shareholders' equity | $ (1,497,801) | $ (1,133,660) | ||||
[1] | Amounts reported as of and for the years ended December 31, 2017 and 2016 have been revised. See Note 2 for more information. | |||||
[2] | Amounts reported as of and for the years ended December 31, 2017 and 2016 have been revised. See Note 2 for more information. |
Note 17 - Guarantor Subsidiar_5
Note 17 - Guarantor Subsidiaries - Unaudited Interim Condensed Consolidating Statements of Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Revenues | $ 567,137 | $ 577,775 | $ 645,957 | |
Cost of sales | (353,994) | (304,727) | (338,325) | |
Depreciation, depletion, and amortization | [1] | (134,044) | (120,599) | (123,631) |
General and administrative | (36,542) | (35,611) | (45,040) | |
Exploration and pre-development | (28,958) | |||
Research and development | (5,441) | (3,276) | (243) | |
Gain (Loss) on Sale of Derivatives | 40,253 | (21,250) | 4,423 | |
Acquisition costs | (10,045) | (25) | (2,695) | |
Equity in earnings of subsidiaries | ||||
Other (expense) income | (60,006) | (70,886) | (33,173) | |
Income (loss) before income taxes | (33,264) | (7,557) | 89,659 | |
Income tax (provision) benefit | 6,701 | (20,963) | (28,090) | |
Net (loss) income | (26,563) | (28,520) | 61,569 | |
Series B Preferred Stock dividends declared | (552) | (552) | (552) | |
(Loss) income applicable to common stockholders | (27,115) | (29,072) | 61,017 | |
Changes in comprehensive (loss) income | (17,807) | 11,229 | (1,971) | |
Comprehensive (loss) income | (44,370) | (17,291) | 59,598 | |
Revenues | 567,137 | 577,775 | 645,957 | |
Loss on derivative contracts | 40,253 | (21,250) | 4,423 | |
Closed operations | (25) | (2,695) | ||
Other (expense) income | (60,006) | (70,886) | (33,173) | |
Closed operations | (25) | (2,695) | ||
Other (expense) income | (60,006) | (70,886) | (33,173) | |
Net income (loss) applicable to common shares | (27,115) | (29,072) | 61,017 | |
Mineral, Exploration [Member] | ||||
Exploration and pre-development | (40,582) | (17,857) | ||
Reportable Legal Entities [Member] | Parent Company [Member] | ||||
Revenues | 8,084 | (5,983) | (14,237) | |
Cost of sales | (446) | 1,098 | ||
Depreciation, depletion, and amortization | ||||
General and administrative | (18,760) | (17,693) | (23,262) | |
Exploration and pre-development | (459) | |||
Research and development | ||||
Gain (Loss) on Sale of Derivatives | 40,253 | (21,250) | 4,423 | |
Acquisition costs | (9,445) | |||
Equity in earnings of subsidiaries | (47,229) | (187,574) | 86,900 | |
Other (expense) income | 515 | 203,365 | 10,656 | |
Income (loss) before income taxes | (27,158) | (28,520) | 61,569 | |
Income tax (provision) benefit | 595 | |||
Net (loss) income | (26,563) | (28,520) | 61,569 | |
Series B Preferred Stock dividends declared | (552) | (552) | (552) | |
(Loss) income applicable to common stockholders | (27,115) | (29,072) | 61,017 | |
Changes in comprehensive (loss) income | (17,807) | 11,229 | (1,971) | |
Comprehensive (loss) income | (44,370) | (17,291) | 59,598 | |
Revenues | 8,084 | (5,983) | (14,237) | |
Loss on derivative contracts | 40,253 | (21,250) | 4,423 | |
Closed operations | (24) | (2,607) | ||
Other (expense) income | 515 | 203,365 | 10,656 | |
Closed operations | (24) | (2,607) | ||
Other (expense) income | 515 | 203,365 | 10,656 | |
Net income (loss) applicable to common shares | (27,115) | (29,072) | 61,017 | |
Reportable Legal Entities [Member] | Parent Company [Member] | Mineral, Exploration [Member] | ||||
Exploration and pre-development | (130) | (304) | ||
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | ||||
Revenues | 298,491 | 305,835 | 369,162 | |
Cost of sales | (188,567) | (158,135) | (202,475) | |
Depreciation, depletion, and amortization | (58,140) | (58,774) | (65,032) | |
General and administrative | (15,761) | (15,690) | (20,425) | |
Exploration and pre-development | (11,600) | |||
Research and development | (2,893) | (3,276) | ||
Gain (Loss) on Sale of Derivatives | ||||
Acquisition costs | (344) | |||
Equity in earnings of subsidiaries | ||||
Other (expense) income | (29,302) | (29,735) | 11,400 | |
Income (loss) before income taxes | (17,030) | 28,625 | 85,956 | |
Income tax (provision) benefit | (37,444) | (208,793) | (25,334) | |
Net (loss) income | (54,474) | (180,168) | 60,622 | |
Series B Preferred Stock dividends declared | ||||
(Loss) income applicable to common stockholders | (54,474) | (180,168) | 60,622 | |
Changes in comprehensive (loss) income | 296 | 8 | ||
Comprehensive (loss) income | (54,474) | (179,872) | 60,630 | |
Revenues | 298,491 | 305,835 | 369,162 | |
Loss on derivative contracts | ||||
Closed operations | (34) | |||
Other (expense) income | (29,302) | (29,735) | 11,400 | |
Closed operations | (34) | |||
Other (expense) income | (29,302) | (29,735) | 11,400 | |
Net income (loss) applicable to common shares | (54,474) | (180,168) | 60,622 | |
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | Mineral, Exploration [Member] | ||||
Exploration and pre-development | (20,514) | (6,640) | ||
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | ||||
Revenues | 260,562 | 277,923 | 291,032 | |
Cost of sales | (164,981) | (147,690) | (135,850) | |
Depreciation, depletion, and amortization | (75,904) | (61,825) | (58,599) | |
General and administrative | (2,021) | (2,228) | (1,353) | |
Exploration and pre-development | (16,899) | |||
Research and development | (2,548) | |||
Gain (Loss) on Sale of Derivatives | ||||
Acquisition costs | (256) | |||
Equity in earnings of subsidiaries | ||||
Other (expense) income | 16,212 | (42,002) | (35,885) | |
Income (loss) before income taxes | 11,126 | 7,278 | 48,378 | |
Income tax (provision) benefit | (3,881) | (14,684) | (22,100) | |
Net (loss) income | 7,245 | (7,406) | 26,278 | |
Series B Preferred Stock dividends declared | ||||
(Loss) income applicable to common stockholders | 7,245 | (7,406) | 26,278 | |
Changes in comprehensive (loss) income | 38 | 2,486 | 2,657 | |
Comprehensive (loss) income | 7,283 | (4,920) | 28,935 | |
Revenues | 260,562 | 277,923 | 291,032 | |
Loss on derivative contracts | ||||
Closed operations | (1) | (54) | ||
Other (expense) income | 16,212 | (42,002) | (35,885) | |
Closed operations | (1) | (54) | ||
Other (expense) income | 16,212 | (42,002) | (35,885) | |
Net income (loss) applicable to common shares | 7,245 | (7,406) | 26,278 | |
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | Mineral, Exploration [Member] | ||||
Exploration and pre-development | (19,938) | (10,913) | ||
Consolidation, Eliminations [Member] | ||||
Revenues | ||||
Cost of sales | ||||
Depreciation, depletion, and amortization | ||||
General and administrative | ||||
Exploration and pre-development | ||||
Research and development | ||||
Gain (Loss) on Sale of Derivatives | ||||
Acquisition costs | ||||
Equity in earnings of subsidiaries | 47,229 | 187,574 | (86,900) | |
Other (expense) income | (47,431) | (202,514) | (19,344) | |
Income (loss) before income taxes | (202) | (14,940) | (106,244) | |
Income tax (provision) benefit | 47,431 | 202,514 | 19,344 | |
Net (loss) income | 47,229 | 187,574 | (86,900) | |
Series B Preferred Stock dividends declared | ||||
(Loss) income applicable to common stockholders | 47,229 | 187,574 | (86,900) | |
Changes in comprehensive (loss) income | (38) | (2,782) | (2,665) | |
Comprehensive (loss) income | 47,191 | 184,792 | (89,565) | |
Revenues | ||||
Loss on derivative contracts | ||||
Closed operations | ||||
Other (expense) income | (47,431) | (202,514) | (19,344) | |
Closed operations | ||||
Other (expense) income | (47,431) | (202,514) | (19,344) | |
Net income (loss) applicable to common shares | 47,229 | $ 187,574 | (86,900) | |
Consolidation, Eliminations [Member] | Mineral, Exploration [Member] | ||||
Exploration and pre-development | ||||
[1] | Amounts reported as of and for the years ended December 31, 2017 and 2016 have been revised. See Note 2 for more information. |
Note 17 - Guarantor Subsidiar_6
Note 17 - Guarantor Subsidiaries - Unaudited Interim Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities | $ 94,221 | $ 115,878 | $ 225,328 |
Additions to properties, plants, and equipment | (136,933) | (98,038) | (164,788) |
Purchase of other companies, net of cash acquired | (139,326) | (2,730) | |
Other investing activities, net | 39,711 | 1,475 | (29,946) |
Dividends paid to stockholders | (4,945) | (4,528) | (4,419) |
Borrowings under debt arrangements | 102,024 | ||
Repayments of debt | (113,375) | (6,986) | (11,156) |
Other financing activity | 1,412 | 6,266 | 3,554 |
Effect of exchange rate changes on cash | (1,515) | 1,095 | (74) |
Changes in cash, cash equivalents and restricted cash and cash equivalents | (158,725) | 15,162 | 15,769 |
Cash, cash equivalents and restricted cash and cash equivalents at beginning of year | 187,139 | 171,977 | 156,208 |
Cash, cash equivalents and restricted cash and cash equivalents at end of year | 28,414 | 187,139 | 171,977 |
Reportable Legal Entities [Member] | Parent Company [Member] | |||
Cash flows from operating activities | (23,136) | (134,900) | 85,665 |
Additions to properties, plants, and equipment | (348) | ||
Purchase of other companies, net of cash acquired | (139,326) | (2,730) | |
Other investing activities, net | (186,615) | 132,118 | (30,584) |
Dividends paid to stockholders | (4,945) | (4,528) | (4,419) |
Borrowings under debt arrangements | 102,024 | ||
Repayments of debt | (106,036) | ||
Other financing activity | 260,422 | (2,087) | (28,476) |
Effect of exchange rate changes on cash | |||
Changes in cash, cash equivalents and restricted cash and cash equivalents | (97,612) | (9,397) | 19,108 |
Cash, cash equivalents and restricted cash and cash equivalents at beginning of year | 103,878 | 113,275 | 94,167 |
Cash, cash equivalents and restricted cash and cash equivalents at end of year | 6,266 | 103,878 | 113,275 |
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member] | |||
Cash flows from operating activities | 38,116 | (98,046) | 82,778 |
Additions to properties, plants, and equipment | (90,578) | (46,570) | (93,541) |
Purchase of other companies, net of cash acquired | |||
Other investing activities, net | 1,715 | 8,119 | 305 |
Dividends paid to stockholders | |||
Borrowings under debt arrangements | |||
Repayments of debt | (5,550) | (5,242) | (10,174) |
Other financing activity | 33,933 | 147,199 | 3,529 |
Effect of exchange rate changes on cash | |||
Changes in cash, cash equivalents and restricted cash and cash equivalents | (22,364) | 5,460 | (17,103) |
Cash, cash equivalents and restricted cash and cash equivalents at beginning of year | 32,048 | 26,588 | 43,691 |
Cash, cash equivalents and restricted cash and cash equivalents at end of year | 9,684 | 32,048 | 26,588 |
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member] | |||
Cash flows from operating activities | 35,508 | 120,027 | 76,491 |
Additions to properties, plants, and equipment | (46,354) | (51,468) | (70,899) |
Purchase of other companies, net of cash acquired | |||
Other investing activities, net | 5,072 | 333 | |
Dividends paid to stockholders | |||
Borrowings under debt arrangements | |||
Repayments of debt | (1,789) | (1,744) | (982) |
Other financing activity | (29,671) | (48,811) | 8,895 |
Effect of exchange rate changes on cash | (1,515) | 1,095 | (74) |
Changes in cash, cash equivalents and restricted cash and cash equivalents | (38,749) | 19,099 | 13,764 |
Cash, cash equivalents and restricted cash and cash equivalents at beginning of year | 51,213 | 32,114 | 18,350 |
Cash, cash equivalents and restricted cash and cash equivalents at end of year | 12,464 | 51,213 | 32,114 |
Consolidation, Eliminations [Member] | |||
Cash flows from operating activities | 43,733 | 228,797 | (19,606) |
Additions to properties, plants, and equipment | |||
Purchase of other companies, net of cash acquired | |||
Other investing activities, net | 219,539 | (138,762) | |
Dividends paid to stockholders | |||
Borrowings under debt arrangements | |||
Repayments of debt | |||
Other financing activity | (263,272) | (90,035) | 19,606 |
Effect of exchange rate changes on cash | |||
Changes in cash, cash equivalents and restricted cash and cash equivalents | |||
Cash, cash equivalents and restricted cash and cash equivalents at beginning of year | |||
Cash, cash equivalents and restricted cash and cash equivalents at end of year |