Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 02, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000719413 | |
Entity Registrant Name | HECLA MINING CO/DE/ | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 1-8491 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 77-0664171 | |
Entity Address, Address Line One | 6500 Mineral Drive, Suite 200 | |
Entity Address, City or Town | Coeur d'Alene | |
Entity Address, State or Province | ID | |
Entity Address, Postal Zip Code | 83815-9408 | |
City Area Code | 208 | |
Local Phone Number | 769-4100 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 538,139,465 | |
Series B Cumulative Preferred Stock [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Series B Cumulative Convertible Preferred Stock, par value $0.25 per share | |
Trading Symbol | HL-PB | |
Security Exchange Name | NYSE | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Title of 12(b) Security | Common Stock, par value $0.25 per share | |
Trading Symbol | HL | |
Security Exchange Name | NYSE |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Sales of products | $ 193,560 | $ 199,703 | $ 622,395 | $ 502,983 |
Cost of sales and other direct production costs | 112,542 | 103,025 | 318,917 | 280,303 |
Depreciation, depletion and amortization | 45,790 | 37,990 | 138,918 | 112,492 |
Total cost of sales | 158,332 | 141,015 | 457,835 | 392,795 |
Gross profit | 35,228 | 58,688 | 164,560 | 110,188 |
Other operating expenses: | ||||
General and administrative | 8,874 | 11,713 | 27,985 | 27,631 |
Exploration | 13,675 | 3,407 | 27,993 | 7,899 |
Pre-development | 3,433 | 759 | 7,046 | 1,857 |
Other operating expense | 3,344 | 3,499 | 10,626 | 5,864 |
Provision for closed operations and environmental matters | 7,564 | 1,254 | 12,297 | 2,807 |
Ramp-up and suspension costs | 6,910 | 1,541 | 17,014 | 24,109 |
Foundation grant | 0 | 0 | 0 | 1,970 |
Total other operating expense | 43,800 | 22,173 | 102,961 | 72,137 |
(Loss) income from operations | (8,572) | 36,515 | 61,599 | 38,051 |
Other income (expense): | ||||
Gain (loss) on derivative contracts | 12,148 | (6,666) | (4,692) | (12,775) |
Gain on exchange of investments | 0 | 0 | 1,158 | 0 |
Unrealized (loss) gain on investments | (2,861) | 3,979 | (7,117) | 9,410 |
Foreign exchange gain (loss) | 3,995 | (2,196) | 24 | 1,235 |
Other income (expense) | 247 | (392) | (192) | (2,141) |
Interest expense | (10,469) | (10,779) | (31,484) | (38,919) |
Total other income (expense) | 3,060 | (16,054) | (42,303) | (43,190) |
(Loss) income before income and mining taxes | (5,512) | 20,461 | 19,296 | (5,139) |
Income and mining tax benefit (provision) | 4,533 | (5,181) | 3,924 | (7,423) |
Net (loss) income | (979) | 15,280 | 23,220 | (12,562) |
Preferred stock dividends | (138) | (138) | (414) | (414) |
(Loss) income applicable to common shareholders | (1,117) | 15,142 | 22,806 | (12,976) |
Comprehensive (loss) income: | ||||
Net income (loss) | (979) | 15,280 | 23,220 | (12,562) |
Change in fair value of derivative contracts designated as hedge transactions | (6,267) | 6,150 | (2,815) | (2,801) |
Comprehensive (loss) income | $ (7,246) | $ 21,430 | $ 20,405 | $ (15,363) |
Basic (loss) income per common share after preferred dividends (in cents) (in dollars per share) | $ (0.002) | $ 0.029 | $ 0.043 | $ (0.025) |
Diluted (loss) income per common share after preferred dividends (in cents) (in dollars per share) | $ (0.002) | $ 0.028 | $ 0.042 | $ (0.025) |
Weighted average number of common shares outstanding - basic (in shares) | 536,966 | 529,838 | 535,542 | 526,098 |
Weighted average number of common shares outstanding - diluted (in shares) | 536,966 | 535,788 | 541,769 | 526,098 |
Cash dividends declared per common share (in cents) (in dollars per share) | $ 0.01125 | $ 0.0025 | $ 0.03125 | $ 0.00750 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating activities: | ||||||||||
Net income (loss) | $ (979) | $ 21,451 | $ 15,280 | $ (15,824) | $ 24,199 | $ (27,842) | $ 23,220 | $ (12,562) | $ (9,457) | $ (94,909) |
Non-cash elements included in net income (loss): | ||||||||||
Depreciation, depletion and amortization | 46,957 | 39,779 | 92,861 | 79,598 | 139,800 | 120,076 | 155,006 | 196,408 | ||
Gain on exchange of investments | 0 | 0 | (1,158) | 0 | ||||||
Unrealized loss (gain) on investments | 2,861 | (3,979) | 7,117 | (9,410) | ||||||
Write-down to stockpile inventory | 6,524 | 0 | ||||||||
Provision for reclamation and closure costs | 7,821 | 4,638 | ||||||||
Stock compensation | 4,774 | 5,229 | ||||||||
Deferred income taxes | (17,886) | (4,578) | ||||||||
Amortization of loan origination fees | 1,406 | 3,066 | ||||||||
(Gain) loss on derivative contracts | (13,937) | 4,483 | ||||||||
Foreign exchange loss (gain) | 615 | (2,810) | ||||||||
Foundation grant | 0 | 0 | 0 | 1,970 | ||||||
Other non-cash items, net | (239) | 559 | ||||||||
Change in assets and liabilities, net of business acquisitions: | ||||||||||
Accounts receivable | (3,798) | (3,741) | ||||||||
Inventories | 22,372 | (13,090) | ||||||||
Other current and non-current assets | 1,650 | 6,748 | ||||||||
Accounts payable and accrued liabilities | (14,689) | (1,762) | ||||||||
Accrued payroll and related benefits | (1,829) | 11,317 | ||||||||
Accrued taxes | 2,730 | 3,276 | ||||||||
Accrued reclamation and closure costs and other non-current liabilities | 2,489 | 2,483 | ||||||||
Cash provided by operating activities | 37,936 | 4,927 | 124,240 | 42,453 | 166,982 | 115,892 | 180,793 | 120,866 | ||
Investing activities: | ||||||||||
Additions to properties, plants, equipment and mineral interests | (80,210) | (54,382) | ||||||||
Purchase of carbon credits | (200) | 0 | ||||||||
Proceeds from exchange of investments | 1,811 | 0 | ||||||||
Proceeds from disposition of properties, plants, equipment and mineral interests | 562 | 305 | ||||||||
Purchases of investments | 0 | (1,661) | ||||||||
Net cash used in investing activities | 78,037 | 55,738 | ||||||||
Financing activities: | ||||||||||
Acquisition of treasury shares | (4,525) | (2,745) | ||||||||
Dividends paid to common shareholders | (16,755) | (3,951) | ||||||||
Dividends paid to preferred shareholders | (414) | (414) | ||||||||
Credit facility and debt issuance fees | (108) | (1,287) | ||||||||
Borrowings on debt | 0 | 707,107 | ||||||||
Repayments of debt | 0 | (716,500) | ||||||||
Repayments of finance leases | (5,598) | (4,246) | ||||||||
Net cash used in financing activities | (27,400) | (22,036) | ||||||||
Effect of exchange rates on cash | (471) | (1,873) | ||||||||
Net increase in cash, cash equivalents and restricted cash and cash equivalents | 61,074 | 36,245 | ||||||||
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period | $ 130,883 | $ 63,477 | $ 130,883 | $ 63,477 | 130,883 | 63,477 | 63,477 | |||
Cash, cash equivalents and restricted cash and cash equivalents at end of period | $ 191,957 | $ 99,722 | 191,957 | 99,722 | $ 130,883 | $ 63,477 | ||||
Supplemental disclosure of cash flow information: | ||||||||||
Cash paid for interest | 37,173 | 33,828 | ||||||||
Cash paid (received) for income and mining taxes | 10,299 | (2,608) | ||||||||
Significant non-cash investing and financing activities: | ||||||||||
Addition of finance lease obligations | 4,006 | 5,747 | ||||||||
Payment of accrued compensation in stock | $ 0 | $ 5,095 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 190,904 | $ 129,830 |
Accounts receivable: | ||
Trade | 32,821 | 27,864 |
Other, net | 10,152 | 11,329 |
Inventories: | ||
Concentrates, doré, and stockpiled ore | 17,594 | 57,567 |
Materials and supplies | 40,845 | 38,608 |
Derivative assets | 5,220 | 3,470 |
Other current assets | 12,744 | 15,644 |
Total current assets | 310,280 | 284,312 |
Investments | 8,030 | 15,148 |
Restricted cash | 1,053 | 1,053 |
Properties, plants, equipment and mineral interests, net | 2,331,018 | 2,378,074 |
Operating lease right-of-use assets | 8,201 | 10,628 |
Deferred income taxes | 5,576 | 2,912 |
Non-current derivatives assets | 6,748 | 4,558 |
Other non-current assets and deferred charges | 3,511 | 3,525 |
Total assets | 2,674,417 | 2,700,210 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 62,571 | 68,516 |
Accrued payroll and related benefits | 26,493 | 31,807 |
Accrued taxes | 8,557 | 5,774 |
Finance leases | 5,637 | 6,491 |
Operating leases | 2,385 | 3,008 |
Accrued reclamation and closure costs | 11,036 | 5,582 |
Accrued interest | 5,221 | 14,157 |
Current derivatives liability | 4,179 | 11,737 |
Other current liabilities | 103 | 138 |
Total current liabilities | 126,182 | 147,210 |
Finance leases | 8,540 | 9,274 |
Operating leases | 5,820 | 7,634 |
Accrued reclamation and closure costs | 108,670 | 110,466 |
Long-term debt | 507,712 | 507,242 |
Deferred tax liability | 142,750 | 156,091 |
Pension liability | 26,229 | 44,144 |
Derivatives liabilities | 752 | 18 |
Other non-current liabilities | 4,787 | 4,346 |
Total liabilities | 931,442 | 986,425 |
Commitments and contingencies (Notes 5, 8, 9, and 11) | ||
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, 750,000,000 authorized shares; issued September 30, 2021 — 545,371,827 shares and December 31, 2020 — 538,487,415 shares | 136,350 | 134,629 |
Capital surplus | 2,032,334 | 2,003,576 |
Accumulated deficit | (362,023) | (368,074) |
Accumulated other comprehensive loss | (35,704) | (32,889) |
Less treasury stock, at cost; September 30, 2021 — 7,395,295 and December 31, 2020 — 6,821,044 shares issued and held in treasury | (28,021) | (23,496) |
Total shareholders’ equity | 1,742,975 | 1,713,785 |
Total liabilities and shareholders’ equity | $ 2,674,417 | $ 2,700,210 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
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) | 545,371,827 | 538,487,415 |
Treasury stock, shares (in shares) | 7,395,295 | 6,821,044 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - 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 |
Balances, July 1, 2021 (Revised) at Dec. 31, 2019 | $ 39 | $ 132,292 | $ 1,973,700 | $ (349,220) | $ (37,310) | $ (22,967) | $ 1,696,534 |
Net income (loss) | (27,842) | ||||||
Balances at Jun. 30, 2020 | 39 | 133,699 | 1,982,400 | (380,205) | (46,261) | (23,496) | 1,666,176 |
Balances, July 1, 2021 (Revised) at Dec. 31, 2019 | 39 | 132,292 | 1,973,700 | (349,220) | (37,310) | (22,967) | 1,696,534 |
Net income (loss) | 0 | 0 | 0 | (12,562) | 0 | 0 | (12,562) |
Restricted stock units granted | 0 | 0 | 3,746 | 0 | 0 | 0 | 3,746 |
Common stock dividends declared | 0 | 0 | 0 | (3,951) | 0 | 0 | (3,951) |
Series B Preferred Stock dividends declared | 0 | 0 | 0 | (414) | 0 | 0 | (414) |
Common stock issued for 401(k) match | 0 | 350 | 3,295 | 0 | 0 | 0 | 3,645 |
Common stock issued to pension plans | 0 | 555 | 12,226 | 0 | 0 | 0 | 12,781 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (2,801) | 0 | (2,801) |
Common stock issued to directors | 0 | 98 | 1,385 | 0 | 0 | 0 | 1,483 |
Restricted stock unit distributions | 0 | 426 | (426) | 0 | 0 | (1,479) | (1,479) |
Common stock issued for employee incentive compensation | 0 | 700 | 4,396 | 0 | 0 | (1,266) | 3,830 |
Treasury shares issued to charitable foundation | 0 | 0 | 0 | (246) | 0 | 2,216 | 1,970 |
Balances at Sep. 30, 2020 | 39 | 134,421 | 1,998,322 | (366,393) | (40,111) | (23,496) | 1,702,782 |
Balances, July 1, 2021 (Revised) at Dec. 31, 2019 | 39 | 132,292 | 1,973,700 | (349,220) | (37,310) | (22,967) | 1,696,534 |
Net income (loss) | (9,457) | ||||||
Balances at Dec. 31, 2020 | 39 | 134,629 | 2,003,576 | (368,074) | (32,889) | (23,496) | 1,713,785 |
Balances, July 1, 2021 (Revised) at Jun. 30, 2020 | 39 | 133,699 | 1,982,400 | (380,205) | (46,261) | (23,496) | 1,666,176 |
Net income (loss) | 0 | 0 | 0 | 15,280 | 0 | 0 | 15,280 |
Restricted stock units granted | 0 | 0 | 1,317 | 0 | 0 | 0 | 1,317 |
Common stock dividends declared | 0 | 0 | 0 | (1,330) | 0 | 0 | (1,330) |
Series B Preferred Stock dividends declared | 0 | 0 | 0 | (138) | 0 | 0 | (138) |
Common stock issued for 401(k) match | 0 | 110 | 1,303 | 0 | 0 | 0 | 1,413 |
Common stock issued to pension plans | 0 | 514 | 11,917 | 0 | 0 | 0 | 12,431 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 6,150 | 0 | 6,150 |
Common stock issued to directors | 0 | 98 | 1,385 | 0 | 0 | 0 | 1,483 |
Balances at Sep. 30, 2020 | 39 | 134,421 | 1,998,322 | (366,393) | (40,111) | (23,496) | 1,702,782 |
Balances, July 1, 2021 (Revised) at Dec. 31, 2020 | 39 | 134,629 | 2,003,576 | (368,074) | (32,889) | (23,496) | 1,713,785 |
Net income (loss) | 24,199 | ||||||
Balances at Jun. 30, 2021 | 39 | 136,065 | 2,024,645 | (354,866) | (29,437) | (28,021) | 1,748,425 |
Balances, July 1, 2021 (Revised) at Dec. 31, 2020 | 39 | 134,629 | 2,003,576 | (368,074) | (32,889) | (23,496) | 1,713,785 |
Net income (loss) | 0 | 0 | 0 | 23,220 | 0 | 0 | 23,220 |
Restricted stock units granted | 0 | 0 | 2,930 | 0 | 0 | 0 | 2,930 |
Common stock dividends declared | 0 | 0 | 0 | (16,755) | 0 | 0 | (16,755) |
Series B Preferred Stock dividends declared | 0 | 0 | 0 | (414) | 0 | 0 | (414) |
Common stock issued for 401(k) match | 0 | 131 | 3,324 | 0 | 0 | 0 | 3,455 |
Common stock issued to pension plans | 0 | 1,125 | 21,125 | 0 | 0 | 0 | 22,250 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (2,815) | 0 | (2,815) |
Common stock issued to directors | 0 | 52 | 1,792 | 0 | 0 | 0 | 1,844 |
Restricted stock unit distributions | 0 | 413 | (413) | 0 | 0 | (4,525) | (4,525) |
Balances at Sep. 30, 2021 | 39 | 136,350 | 2,032,334 | (362,023) | (35,704) | (28,021) | 1,742,975 |
Balances, July 1, 2021 (Revised) at Jun. 30, 2021 | 39 | 136,065 | 2,024,645 | (354,866) | (29,437) | (28,021) | 1,748,425 |
Net income (loss) | 0 | 0 | 0 | (979) | 0 | 0 | (979) |
Restricted stock units granted | 0 | 0 | 1,472 | 0 | 0 | 0 | 1,472 |
Common stock dividends declared | 0 | 0 | 0 | (6,040) | 0 | 0 | (6,040) |
Series B Preferred Stock dividends declared | 0 | 0 | 0 | (138) | 0 | 0 | (138) |
Common stock issued for 401(k) match | 0 | 35 | 1,017 | 0 | 0 | 0 | 1,052 |
Common stock issued to pension plans | 0 | 250 | 5,200 | 0 | 0 | 0 | 5,450 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (6,267) | 0 | (6,267) |
Balances at Sep. 30, 2021 | $ 39 | $ 136,350 | $ 2,032,334 | $ (362,023) | $ (35,704) | $ (28,021) | $ 1,742,975 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Common stock dividends declared, per common share (in dollars per share) | $ 0.01125 | $ 0.0025 | $ 0.03125 | $ 0.0075 |
Preferred stock dividends declared, per share (in dollars per share) | $ 0.875 | $ 0.875 | $ 2.625 | $ 2.625 |
Common stock issued for 401(k) match, shares (in shares) | 141,000 | 439,000 | 524,000 | 1,396,000 |
Common stock issued to pension plans, shares (in shares) | 1,000,000 | 2,058,000 | 4,500,000 | 2,225,000 |
Stock issued to directors, shares (in shares) | 391,000 | 207,000 | 391,000 | |
Restricted stock unit distributions, shares (in shares) | 1,653,000 | 1,702,000 | ||
Common stock issued for employee incentive compensation, shares (in shares) | 2,800,000 | |||
Treasury shares issued to charitable foundation, share (in shares) | 650,000 |
Note 1 - Basis of Preparation o
Note 1 - Basis of Preparation of Financial Statements | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1. Basis of Preparation of Financial Statements The accompanying unaudited interim condensed consolidated financial statements of Hecla Mining Company and its subsidiaries (collectively, “Hecla,” “the Company,” “we,” “our,” or “us,” except where the context requires otherwise) have been prepared in accordance with the instructions to Form 10 not 10 December 31, 2020 “2020 10 December 31, 2020 three nine September 30, 2021 not may December 31, 2021. The 2019 19” March 11, 2020, 19 March 2020, 19, March 24, 2020 April 15, 2020 April 2020, May 30, 2020. March 2020 first 2020 2020 first nine 2021 2020 March 2020 second 2021. third 2021 third 2020 19 first nine 2021 19 19 first nine 2021. We have taken precautionary measures to mitigate the impact of COVID- 19, may 19 In the third 2021, June 1, 2013 June 30, 2021. Note 2 |
Note 2 - Revision of Previously
Note 2 - Revision of Previously Issued Financial Statements for Immaterial Misstatements | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Error Correction [Text Block] | Note 2. Casa Berardi DDA In the third 2021, June 1, 2013 June 30, 2021 8 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 no Reclassification of State Mining Income Taxes As disclosed during the first 2021, Cost of sales and other direct production costs Income and mining tax provision January 1, 2021. The following tables present a summary of the impact, by financial statement line item, of the Revisions for the three March 31, 2021 2020, June 30, 2021 2020 September 30, 2020, six June 30, 2021and 2020, nine September 30, 2020, December 31, 2020 2019, December 31, 2018: Three Months Ended March 31, 2021 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) Depreciation, depletion and amortization $ 49,331 $ (2,589 ) $ 46,742 Total cost of sales 146,040 (2,589 ) 143,451 Gross profit 64,812 2,589 67,401 Income from operations 38,449 2,589 41,038 Income before income and mining taxes 23,605 2,589 26,194 Income and mining tax provision (4,634 ) (109 ) (4,743 ) Net income 18,971 2,480 21,451 Income applicable to common shareholders 18,833 2,480 21,313 Comprehensive income 20,803 2,480 23,283 Basic income per common share after preferred dividends (in cents) 3.5 0.5 4.0 Diluted income per common share after preferred dividends (in cents) 3.5 0.5 4.0 — Condensed Consolidated Statements of Cash Flows (Unaudited) Net income 18,971 2,480 21,451 Depreciation, depletion and amortization 49,546 (2,589 ) 46,957 Deferred income taxes 32 109 141 Cash provided by operating activities 37,936 — 37,936 Three Months Ended June 30, 2021 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) Depreciation, depletion and amortization $ 48,403 $ (2,671 ) $ 45,732 Total cost of sales 158,723 (2,671 ) 156,052 Gross profit 59,260 2,671 61,931 Income from operations 26,462 2,671 29,133 Loss before income and mining taxes (4,057 ) 2,671 (1,386 ) Income and mining tax benefit 4,842 (708 ) 4,134 Net income 785 1,963 2,748 Income applicable to common shareholders 647 1,963 2,610 Comprehensive income 2,405 1,963 4,368 Basic income per common share after preferred dividends (in cents) 0.1 0.4 0.5 Diluted income per common share after preferred dividends (in cents) 0.1 0.4 0.5 Six Months Ended June 30, 2021 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) Depreciation, depletion and amortization $ 97,734 $ (5,260 ) $ 92,474 Total cost of sales 304,763 (5,260 ) 299,503 Gross profit 124,072 5,260 129,332 Income from operations 64,911 5,260 70,171 Income before income and mining taxes 19,548 5,260 24,808 Income and mining tax benefit (provision) 208 (817 ) (609 ) Net income 19,756 4,443 24,199 Income applicable to common shareholders 19,480 4,443 23,923 Comprehensive income 23,208 4,443 27,651 Basic income per common share after preferred dividends (in cents) 3.6 0.7 4.3 Diluted income per common share after preferred dividends (in cents) 3.6 0.7 4.3 — Condensed Consolidated Statements of Cash Flows (Unaudited) Net income 19,756 4,443 24,199 Depreciation, depletion and amortization 98,121 (5,260 ) 92,861 Deferred income taxes (8,562 ) 817 (7,745 ) Cash provided by operating activities 124,240 — 124,240 Three Months Ended March 31, 2020 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) Cost of sales and other direct production costs $ 85,887 $ (167 ) $ 85,720 Depreciation, depletion and amortization 39,666 (1,851 ) 37,815 Total cost of sales 125,553 (2,018 ) 123,535 Gross profit 11,372 2,018 13,390 Loss from operations (15,064 ) 2,018 (13,046 ) Loss before income and mining taxes (18,247 ) 2,018 (16,229 ) Income and mining tax benefit 1,062 (657 ) 405 Net loss (17,185 ) 1,361 (15,824 ) Loss applicable to common shareholders (17,323 ) 1,361 (15,962 ) Comprehensive loss (36,520 ) 1,361 (35,159 ) Basic loss per common share after preferred dividends (in cents) (3.3 ) 0.3 (3.0 ) Diluted loss per common share after preferred dividends (in cents) (3.3 ) 0.3 (3.0 ) — Condensed Consolidated Statements of Cash Flows (Unaudited) Net loss (17,185 ) 1,361 (15,824 ) Depreciation, depletion and amortization 41,630 (1,851 ) 39,779 Deferred income taxes (3,252 ) 490 (2,762 ) Cash provided by operating activities 4,927 — 4,927 Three Months Ended June 30, 2020 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) Cost of sales and other direct production costs $ 92,853 $ (1,295 ) $ 91,558 Depreciation, depletion and amortization 39,423 (2,736 ) 36,687 Total cost of sales 132,276 (4,031 ) 128,245 Gross profit 34,079 4,031 38,110 Income from operations 9,874 4,031 13,905 Loss before income and mining taxes (13,402 ) 4,031 (9,371 ) Income and mining tax provision (626 ) (2,020 ) (2,646 ) Net loss (14,028 ) 2,011 (12,017 ) Income applicable to common shareholders (14,166 ) 2,011 (12,155 ) Comprehensive loss (3,644 ) 2,011 (1,633 ) Basic loss per common share after preferred dividends (in cents) (2.7 ) 0.4 (2.3 ) Diluted loss per common share after preferred dividends (in cents) (2.7 ) 0.4 (2.3 ) Six Months Ended June 30, 2020 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) Cost of sales and other direct production costs $ 178,740 $ (1,462 ) $ 177,278 Depreciation, depletion and amortization 79,089 (4,587 ) 74,502 Total cost of sales 257,829 (6,049 ) 251,780 Gross profit 45,451 6,049 51,500 (Loss) income from operations (4,513 ) 6,049 1,536 Loss before income and mining taxes (31,649 ) 6,049 (25,600 ) Income and mining tax benefit (provision) 436 (2,678 ) (2,242 ) Net loss (31,213 ) 3,371 (27,842 ) Loss applicable to common shareholders (31,489 ) 3,371 (28,118 ) Comprehensive loss (40,164 ) 3,371 (36,793 ) Basic loss per common share after preferred dividends (in cents) (6.0 ) 0.6 (5.4 ) Diluted loss per common share after preferred dividends (in cents) (6.0 ) 0.6 (5.4 ) Condensed Consolidated Statements of Cash Flows (Unaudited) Net loss (31,213 ) 3,371 (27,842 ) Depreciation, depletion and amortization 84,185 (4,587 ) 79,598 Deferred income taxes (5,165 ) 1,216 (3,949 ) Cash provided by operating activities 42,453 — 42,453 Three Months Ended September 30, 2020 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) Cost of sales and other direct production costs $ 105,977 $ (2,952 ) $ 103,025 Depreciation, depletion and amortization 40,238 (2,248 ) 37,990 Total cost of sales 146,215 (5,200 ) 141,015 Gross profit 53,488 5,200 58,688 Income from operations 31,315 5,200 36,515 Income before income and mining taxes 15,261 5,200 20,461 Income and mining tax provision (1,633 ) (3,548 ) (5,181 ) Net income 13,628 1,652 15,280 Income applicable to common shareholders 13,490 1,652 15,142 Comprehensive income 19,778 1,652 21,430 Basic income per common share after preferred dividends (in cents) 2.6 0.3 2.9 Diluted income per common share after preferred dividends (in cents) 2.6 0.2 2.8 Nine Months Ended September 30, 2020 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) Cost of sales and other direct production costs $ 284,717 $ (4,414 ) $ 280,303 Depreciation, depletion and amortization 119,327 (6,835 ) 112,492 Total cost of sales 404,044 (11,249 ) 392,795 Gross profit 98,939 11,249 110,188 Income from operations 26,802 11,249 38,051 Loss before income and mining taxes (16,388 ) 11,249 (5,139 ) Income and mining tax benefit (provision) (1,197 ) (6,226 ) (7,423 ) Net loss (17,585 ) 5,023 (12,562 ) Loss applicable to common shareholders (17,999 ) 5,023 (12,976 ) Comprehensive income (20,386 ) 5,023 (15,363 ) Basic loss per common share after preferred dividends (in cents) (3.4 ) 0.9 (2.5 ) Diluted loss per common share after preferred dividends (in cents) (3.4 ) 0.9 (2.5 ) Condensed Consolidated Statements of Cash Flows (Unaudited) Net loss (17,585 ) 5,023 (12,562 ) Depreciation, depletion and amortization 126,911 (6,835 ) 120,076 Deferred income taxes (6,390 ) 1,812 (4,578 ) Cash provided by operating activities 115,892 — 115,892 For the Year Ended December 31, 2018 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Consolidated Statements of Operations and Comprehensive Loss Cost of sales and other direct production costs $ 353,994 $ (1,844 ) $ 352,150 Depreciation, depletion and amortization 134,044 (2,224 ) 131,820 Total cost of sales 488,038 (4,068 ) 483,970 Gross profit 79,099 (4,068 ) 75,031 Loss from operations (39,126 ) 4,068 (35,058 ) Loss before income and mining taxes (33,264 ) 4,068 (29,196 ) Income and mining tax benefit 6,701 (4,256 ) 2,445 Net loss (26,563 ) (188 ) (26,751 ) Loss applicable to common shareholders (27,115 ) (188 ) (27,303 ) Comprehensive loss (44,370 ) (188 ) (44,558 ) Basic loss per common share after preferred dividends (in cents) (6.3 ) — (6.3 ) Diluted loss per common share after preferred dividends (in cents) (6.3 ) — (6.3 ) Consolidated Statements of Cash Flows Net loss (26,563 ) (188 ) (26,751 ) Depreciation, depletion and amortization 140,905 (2,224 ) 138,681 Deferred income taxes 6,278 2,412 8,690 Cash provided by operating activities 94,221 — 94,221 As of and for the Year Ended December 31, 2019 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Consolidated Balance Sheet Inventories: Concentrates, doré, and stockpiled ore $ 30,364 $ (286 ) $ 30,078 Total current assets 179,124 (286 ) 178,838 Properties, plants, equipment and mineral interests, net 2,423,698 23,752 2,447,450 Total assets 2,637,308 23,466 2,660,774 Deferred tax liability 138,282 19,355 157,637 Total liabilities 944,885 19,355 964,240 Accumulated deficit (353,331 ) 4,111 (349,220 ) Total shareholders' equity 1,692,423 4,111 1,696,534 Total liabilities and shareholders' equity 2,637,308 23,466 2,660,774 Consolidated Statements of Operations and Comprehensive Loss Cost of sales and other direct production costs $ 450,349 $ (2,364 ) $ 447,985 Depreciation, depletion and amortization 199,518 (8,067 ) 191,451 Total cost of sales 649,867 (10,431 ) 639,436 Gross profit 23,399 10,431 33,830 Loss from operations (57,109 ) 10,431 (46,678 ) Loss before income and mining taxes (123,658 ) 10,431 (113,227 ) Income and mining tax benefit 24,101 (5,783 ) 18,318 Net loss (99,557 ) 4,648 (94,909 ) Loss applicable to common shareholders (100,109 ) 4,648 (95,461 ) Comprehensive loss (94,398 ) 4,648 (89,750 ) Basic loss per common share after preferred dividends (in cents) (20.4 ) 0.9 (19.5 ) Diluted loss per common share after preferred dividends (in cents) (20.4 ) 0.9 (19.5 ) Consolidated Statements of Cash Flows Net loss (99,557 ) 4,648 (94,909 ) Depreciation, depletion and amortization 204,475 (8,067 ) 196,408 Deferred income taxes 5,668 3,419 9,087 Cash provided by operating activities 120,866 — 120,866 As of and for the Year Ended December 31, 2020 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Consolidated Balance Sheet Inventories: Concentrates, doré, and stockpiled ore $ 57,936 $ (369 ) $ 57,567 Total current assets 284,681 (369 ) 284,312 Properties, plants, equipment and mineral interests, net 2,345,219 32,855 2,378,074 Total assets 2,667,724 32,486 2,700,210 Accrued taxes 8,349 (2,575 ) 5,774 Total current liabilities 149,785 (2,575 ) 147,210 Deferred tax liability 132,475 23,616 156,091 Total liabilities 965,384 21,041 986,425 Accumulated deficit (379,519 ) 11,445 (368,074 ) Total shareholders' equity 1,702,340 11,445 1,713,785 Total liabilities and shareholders' equity 2,667,724 32,486 2,700,210 Consolidated Statements of Operations and Comprehensive Loss Cost of sales and other direct production costs 389,040 (6,377 ) 382,663 Depreciation, depletion and amortization 157,130 (9,020 ) 148,110 Total cost of sales 546,170 (15,397 ) 530,773 Gross profit 145,703 15,397 161,100 Income from operations 51,581 15,397 66,978 Loss before income and mining taxes (16,655 ) 15,397 (1,258 ) Income and mining tax provision (135 ) (8,064 ) (8,199 ) Net loss (16,790 ) 7,333 (9,457 ) Loss applicable to common shareholders (17,342 ) 7,333 (10,009 ) Comprehensive loss (12,369 ) 7,333 (5,036 ) Basic loss per common share after preferred dividends (in cents) (3.3 ) 1.4 (1.9 ) Diluted loss per common share after preferred dividends (in cents) (3.3 ) 1.4 (1.9 ) Consolidated Statements of Cash Flows Net loss (16,790 ) 7,333 (9,457 ) Depreciation, depletion and amortization 164,026 (9,020 ) 155,006 Deferred income taxes (5,505 ) 1,687 (3,818 ) Cash provided by operating activities 180,793 — 180,793 |
Note 3 - Business Segments and
Note 3 - Business Segments and Sales of Products | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 3. Business Segments and Sales of Products We discover, acquire and develop mines and other mineral interests and produce and market concentrates, carbon material and doré which contain silver, gold, lead and zinc. We are currently organized and managed in five segments, which represent our operating units: the Greens Creek unit, the Lucky Friday unit, the Casa Berardi unit, the San Sebastian exploration unit, and the Nevada Operations unit. General corporate activities not not The following tables present information about our reportable segments for the three nine September 30, 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net sales to unaffiliated customers: Greens Creek $ 84,806 $ 93,494 $ 296,978 $ 232,218 Lucky Friday 29,783 20,812 98,550 35,097 Casa Berardi 56,065 53,554 185,098 149,731 San Sebastian — 9,138 176 23,998 Nevada Operations 22,906 22,705 41,593 61,939 $ 193,560 $ 199,703 $ 622,395 $ 502,983 Income (loss) from operations: Revised Revised Greens Creek $ 26,572 $ 44,477 $ 127,605 $ 76,762 Lucky Friday 6,187 950 24,247 (12,388 ) Casa Berardi (6,233 ) 1,419 4,944 5,330 San Sebastian (1,727 ) 1,946 (4,951 ) 1,766 Nevada Operations (12,077 ) 5,486 (35,558 ) 6,830 Other (21,294 ) (17,763 ) (54,688 ) (40,249 ) $ (8,572 ) $ 36,515 $ 61,599 $ 38,051 The following table presents identifiable assets by reportable segment as of September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Identifiable assets: Revised Greens Creek $ 607,207 $ 610,360 Lucky Friday 512,742 520,463 Casa Berardi 705,328 727,008 San Sebastian 38,186 42,617 Nevada Operations 477,621 513,309 Other 333,333 286,453 $ 2,674,417 $ 2,700,210 Sales of products by metal for the three nine September 30, 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Silver $ 61,890 $ 79,684 $ 232,414 $ 179,013 Gold 94,984 98,457 282,471 278,363 Lead 18,082 13,370 56,198 32,244 Zinc 30,273 26,779 89,501 65,540 Less: Smelter and refining charges (11,669 ) (18,587 ) (38,189 ) (52,177 ) Sales of products $ 193,560 $ 199,703 $ 622,395 $ 502,983 Sales of products for the three nine September 30, 2021 three nine September 30, 2020 Note 9 |
Note 4 - Income and Mining Taxe
Note 4 - Income and Mining Taxes | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 4. Income and Mining Taxes Major components of our income and mining tax benefit (provision) for the three nine September 30, 2021 2020 Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Revised Revised Current: Domestic $ (2,176 ) $ (705 ) $ (7,489 ) $ 1,690 Foreign (1,578 ) (2,286 ) (4,690 ) (6,005 ) Total current income and mining tax provision (3,754 ) (2,991 ) (12,179 ) (7,695 ) Deferred: Domestic 3,213 (2,761 ) 8,226 (1,108 ) Foreign 5,074 571 7,877 1,380 Total deferred income and mining tax benefit 8,287 (2,190 ) 16,103 272 Total income and mining tax benefit (provision) $ 4,533 $ (5,181 ) $ 3,924 $ (7,423 ) The income and mining tax benefit (provision) for the three nine September 30, 2021 2020 three nine September 30, 2021 |
Note 5 - Employee Benefit Plans
Note 5 - Employee Benefit Plans | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | Note 5. Employee Benefit Plans We sponsor defined benefit pension plans covering substantially all U.S. employees. Net periodic pension cost for the plans consisted of the following for the three nine September 30, 2021 2020 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Service cost $ 1,455 $ 1,334 $ 4,365 $ 4,002 Interest cost 1,248 1,404 3,744 4,212 Expected return on plan assets (2,313 ) (1,872 ) (6,939 ) (5,616 ) Amortization of prior service cost 99 29 297 87 Amortization of net loss 1,125 1,163 3,375 3,489 Net periodic pension cost $ 1,614 $ 2,058 $ 4,842 $ 6,174 For the three nine September 30, 2021 2020, three nine September 30, 2021, three nine September 30, 2020, In January 2021, 2021. September 2021, not 2021, may |
Note 6 - (Loss) Income Per Comm
Note 6 - (Loss) Income Per Common Share | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 6. (Loss) Income Per Common Share We calculate basic (loss) income per common share on the basis of the weighted average number of shares of common stock outstanding during the period. Diluted (loss) income per share is calculated using the weighted average number of shares of common stock outstanding during the period plus the effect of potential dilutive common shares during the period using the treasury stock and if-converted methods. Potential dilutive shares of common stock include outstanding unvested restricted stock awards, stock units, warrants and convertible preferred stock for periods in which we have reported net income. For periods in which we report net losses, potential dilutive shares of common stock are excluded, as their conversion and exercise would be anti-dilutive. The following table represents net (loss) income per common share – basic and diluted (in thousands, except (loss) income per share): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revised Revised Numerator Net (loss) income $ (979 ) $ 15,280 $ 23,220 $ (12,562 ) Preferred stock dividends (138 ) (138 ) (414 ) (414 ) Net (loss) income applicable to common shares $ (1,117 ) $ 15,142 $ 22,806 $ (12,976 ) Denominator Basic weighted average common shares 536,966 529,838 535,542 526,098 Dilutive restricted stock units, warrants and deferred shares — 5,950 6,227 — Diluted weighted average common shares 536,966 535,788 541,769 526,098 Basic (loss) income per common share (in cents) (0.2 ) 2.9 4.3 (2.5 ) Diluted (loss) income per common share (in cents) (0.2 ) 2.8 4.2 (2.5 ) Diluted (loss) income per share for the three nine September 30, 2021 2020 no For the three September 30, 2021 nine September 30, 2020, no nine September 30, 2021, one three September 30, 2020, one |
Note 7 - Stockholders' Equity
Note 7 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 7. Stockholders Equity Stock-based Compensation Plans In June 2021, • 552,660 restricted stock units, with 177,872 of those vesting in June 2022, June 2023, June 2024; • 47,590 restricted stock units, with one June 2022 June 2023, • 29,187 restricted stock units that vest in June 2022. Stock-based compensation expense will be recognized on a straight-line basis over the vesting period of the respective award. Total stock-based compensation expense of $5.0 million related to the above awards will be recognized as follows: $1.7 million, $2.2 million, $0.9 million and $0.2 million during 2021, 2022, 2023 2024, In June 2021, three December 31, 2023. thirty June 2019 December 31, 2021. Stock-based compensation expense for restricted stock unit and performance-based grants to employees and shares issued to non-employee directors totaled $1.5 million and $4.8 million in the third first nine 2021, third first nine 2020, In connection with the vesting of restricted stock units and other stock grants, employees have in the past, at their election and when permitted by us, chosen to satisfy their minimum tax withholding obligations through net share settlement, pursuant to which the Company withholds, and retains as treasury stock, the number of shares necessary to satisfy such withholding obligations and pays the obligations in cash. As a result, in the first nine 2021 first nine 2020 Common Stock Dividends In each of May September 2021, 1 September 2021 second third 2021, May 5, 2021 August 4, 2021, 1.125 0.375 November 3, 2021, June September 2021, December 2021. Quarterly Average Realized Silver Price ($ per ounce) Quarterly Silver- Linked Dividend (cents per share) Annualized Silver- Linked Dividend (cents per share) Annualized Minimum Dividend (cents per share) Annualized Dividends per Share: Silver- Linked and Minimum (cents per share) $20 0.25 1 1.5 2.5 $25 1 4 1.5 5.5 $30 1.5 6 1.5 7.5 $35 2.5 10 1.5 11.5 $40 3.5 14 1.5 15.5 $45 4.5 18 1.5 19.5 $50 5.5 22 1.5 23.5 At-The-Market Equity Distribution Agreement Pursuant to an equity distribution agreement dated February 18, 2021, may not may 1933, 3. September 30, 2021. |
Note 8 - Debt, Credit Facility
Note 8 - Debt, Credit Facility and Leases | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 8. Debt, Credit Facility and Leases Our debt as of September 30, 2021 December 31, 2020 February 15, 2028 ( 2020 July 9, 2025 ( September 30, 2021 December 31, 2020 September 30, 2021 Senior Notes IQ Notes Total Principal $ 475,000 $ 37,862 $ 512,862 Unamortized discount/premium and issuance costs (5,779 ) 629 (5,150 ) Long-term debt balance $ 469,221 $ 38,491 $ 507,712 December 31, 2020 Senior Notes IQ Notes Total Principal $ 475,000 $ 37,886 $ 512,886 Unamortized discount/premium and issuance costs (6,462 ) 818 (5,644 ) Long-term debt balance $ 468,538 $ 38,704 $ 507,242 The following table summarizes the scheduled annual future payments, including interest, for our Senior Notes, IQ Notes, and finance and operating leases as of September 30, 2021 September 30, 2021. Twelve-month period ending September 30, Senior Notes IQ Notes Finance Leases Operating Leases 2022 $ 34,438 $ 2,467 $ 6,336 $ 3,166 2023 34,438 2,467 4,590 2,590 2024 34,438 2,467 3,313 1,037 2025 34,438 2,467 855 533 2026 34,438 37,301 — 524 Thereafter 522,349 — — 1,953 Total $ 694,539 $ 47,169 $ 15,094 $ 9,803 Credit Facility In July 2018, February 7, 2023. September 30, 2021 December 31, 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% and 4.00% of the amount of the letters of credit based on our total leverage ratio, as well as a fronting fee to each issuing bank of 0.20% annually on the average daily dollar amount of any outstanding letters of credit. There were $21.0 million in letters of credit outstanding as of September 30, 2021. We believe we were in compliance with all covenants under the credit agreement as of September 30, 2021. |
Note 9 - Derivative Instruments
Note 9 - Derivative Instruments | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 9. Derivative Instruments General Our current risk management policy provides that up to 75% of: • our future foreign currency-related operating cost exposure for five may • our planned lead and zinc metals price exposure for five may • our planned silver and gold metals price exposure for five may not not In addition, our risk management policy provides that price exposure between the time of shipment and final settlement on silver, gold, lead and zinc contained in our concentrate shipments may These instruments expose us to (i) credit risk in the form of non-performance by counterparties for contracts in which the contract price exceeds the spot price of the hedged commodity or foreign currency and (ii) price risk to the extent that the spot price exceeds the contract price for quantities of our production and/or forecasted costs covered under contract positions. Foreign Currency Our wholly-owned subsidiary owning the Casa Berardi operation is a USD-functional currency entity which routinely incurs expenses denominated in CAD. Such expenses expose us to exchange rate fluctuations between the USD and CAD. We have a program to manage our exposure to fluctuations in the exchange rate between the USD and CAD for this subsidiary’s future operating costs denominated in CAD. The program utilizes forward contracts to buy CAD, and each contract is designated as a cash flow hedge. As of September 30, 2021, CAD$245.6 USD$187.7 2021 2025 As of September 30, 2021 December 31, 2020, September 30, December 31, Balance sheet line item: 2021 2020 Current derivatives assets $ 2.5 $ 3.5 Non-current derivatives assets 2.2 4.2 Current derivatives liability — — Non-current derivative liability 0.2 — Net unrealized gains of approximately $4.8 million related to the effective portion of the hedges were included in accumulated other comprehensive loss as of September 30, 2021. September 30, 2021 twelve nine September 30, 2021. nine September 30, 2021. Metals Prices 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; and • changes in prices of zinc and lead (but not The following tables summarize the quantities of metals committed under forward sales contracts at September 30, 2021 December 31, 2020: September 30, 2021 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 2021 settlements 1,190 4 20,867 9,866 $ 23.15 $ 1,776 $ 1.35 $ 1.01 Contracts on forecasted sales 2021 settlements — — 7,771 6,779 N/A N/A $ 1.26 $ 0.94 2022 settlements — — 60,043 63,769 N/A N/A $ 1.28 $ 0.98 2023 settlements — — 76,280 70,327 N/A N/A $ 1.29 $ 1.00 2024 settlements — — 43,762 — N/A N/A $ 1.31 N/A December 31, 2020 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 2021 settlements 1,282 4 23,314 4,905 $ 25.00 $ 1,858 $ 1.19 $ 0.90 Contracts on forecasted sales 2021 settlements — — 41,577 30,876 N/A N/A $ 1.17 $ 0.88 2022 settlements — — 18,519 — N/A N/A $ 1.28 N/A As of September 30, 2021, not fourth 2021, We recorded the following balances for the fair value of the forward contracts as of September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Balance sheet line item: Contracts in an asset position Contracts in a liability position Net asset (liability) Contracts in an asset position Contracts in a liability position Net asset (liability) Current derivatives assets $ 3.1 $ (0.4 ) $ 2.7 $ 0.2 $ (0.2 ) $ — Non-current derivatives assets 7.1 (2.5 ) 4.6 0.5 (0.1 ) 0.4 Current derivatives liabilities 0.3 (4.4 ) (4.1 ) 0.1 (11.8 ) (11.7 ) Non-current derivatives liabilities 1.2 (1.8 ) (0.6 ) — — — We recognized net gains of $5.0 million and $4.5 million during the third first nine 2021, third first nine 2020, We recognized a net gain of $12.1 million and net loss of $4.7 million during the third first nine 2021, third first nine 2020, 2021 2020 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 September 30, 2021, not September 30, 2021, September 30, 2021, |
Note 10 - Fair Value Measuremen
Note 10 - Fair Value Measurement | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 10. Fair Value Measurement Accounting guidance has established a hierarchy for inputs used to measure assets and liabilities at fair value on a recurring basis. The three Level 1: Level 2: Level 3: The table below sets forth our assets and liabilities 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 (in thousands). Description Balance at September 30, 2021 Balance at December 31, 2020 Input Hierarchy Level Assets: Cash and cash equivalents: Money market funds and other bank deposits $ 190,904 $ 129,830 Level 1 Current and non-current investments: Equity securities 8,030 19,389 Level 1 Trade accounts receivable: Receivables from provisional concentrate sales 32,821 27,864 Level 2 Restricted cash balances: Certificates of deposit and other deposits 1,053 1,053 Level 1 Derivative contracts - current and non-current derivative assets: Foreign exchange contracts 4,655 7,647 Level 2 Metal forward and put option contracts 7,313 381 Level 2 Total assets $ 244,776 $ 186,164 Liabilities: Derivative contracts - current derivatives liabilities and other non-current liabilities: Foreign exchange contracts $ 200 $ 19 Level 2 Metal forward and put option contracts 4,731 11,737 Level 2 Total liabilities $ 4,931 $ 11,756 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 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 from provisional concentrate sales are subject to final pricing and valued using quoted prices based on forward curves for the particular metals. 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 USD and CAD, and the impact on CAD-denominated operating costs incurred at our Casa Berardi unit (see Note 9 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 9 At September 30, 2021, 1 Note 8 |
Note 11 - Commitments, Continge
Note 11 - Commitments, Contingencies and Obligations | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 11. Commitments, Contingencies and Obligations 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 Johnny M Mine Area near San Mateo, McKinley County and San Mateo Creek Basin, New Mexico In May 2011, may August 2012, not December 2014 January 2021, first 2021 December 31, 2020) The Johnny M Mine is in an area known as the San Mateo Creek Basin (“SMCB”), which is an approximately 321 not not may $9.0 In July 2018, may Carpenter Snow Creek and Barker-Hughesville Sites in Montana In July 2010, 1980s 6 1988. In June 2011, may may In February 2017, April 2017. June December 1983, In August 2018, may not Litigation Related to Klondex Acquisition On May 24, 2019, one March 19, 2018 May 8, 2019, 10 20 1934 10b 5 first 2021. Debt See Note 8 September 30, 2021. Other Commitments Our contractual obligations as of September 30, 2021 September 30, 2021 Note 8 September 30, 2021, 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 12 - Developments in Accou
Note 12 - Developments in Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | Note 12. Developments in Accounting Pronouncements Accounting Standards Updates Adopted In December 2019, No. 2019 12 740 December 15, 2020, January 1, 2021, not Accounting Standards Updates to Become Effective in Future Periods In August 2020, No. 2020 06 470 20 815 40 December 15, 2021, Certain statements contained in this Form 10 27A 1933, 21E 1934, “may,” These risks, uncertainties and other factors include, but are not 1A. 10 December 31, 2020 "2020 10 not not |
Note 2 - Revision of Previous_2
Note 2 - Revision of Previously Issued Financial Statements for Immaterial Misstatements (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | Three Months Ended March 31, 2021 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) Depreciation, depletion and amortization $ 49,331 $ (2,589 ) $ 46,742 Total cost of sales 146,040 (2,589 ) 143,451 Gross profit 64,812 2,589 67,401 Income from operations 38,449 2,589 41,038 Income before income and mining taxes 23,605 2,589 26,194 Income and mining tax provision (4,634 ) (109 ) (4,743 ) Net income 18,971 2,480 21,451 Income applicable to common shareholders 18,833 2,480 21,313 Comprehensive income 20,803 2,480 23,283 Basic income per common share after preferred dividends (in cents) 3.5 0.5 4.0 Diluted income per common share after preferred dividends (in cents) 3.5 0.5 4.0 — Condensed Consolidated Statements of Cash Flows (Unaudited) Net income 18,971 2,480 21,451 Depreciation, depletion and amortization 49,546 (2,589 ) 46,957 Deferred income taxes 32 109 141 Cash provided by operating activities 37,936 — 37,936 Three Months Ended June 30, 2021 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) Depreciation, depletion and amortization $ 48,403 $ (2,671 ) $ 45,732 Total cost of sales 158,723 (2,671 ) 156,052 Gross profit 59,260 2,671 61,931 Income from operations 26,462 2,671 29,133 Loss before income and mining taxes (4,057 ) 2,671 (1,386 ) Income and mining tax benefit 4,842 (708 ) 4,134 Net income 785 1,963 2,748 Income applicable to common shareholders 647 1,963 2,610 Comprehensive income 2,405 1,963 4,368 Basic income per common share after preferred dividends (in cents) 0.1 0.4 0.5 Diluted income per common share after preferred dividends (in cents) 0.1 0.4 0.5 Six Months Ended June 30, 2021 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) Depreciation, depletion and amortization $ 97,734 $ (5,260 ) $ 92,474 Total cost of sales 304,763 (5,260 ) 299,503 Gross profit 124,072 5,260 129,332 Income from operations 64,911 5,260 70,171 Income before income and mining taxes 19,548 5,260 24,808 Income and mining tax benefit (provision) 208 (817 ) (609 ) Net income 19,756 4,443 24,199 Income applicable to common shareholders 19,480 4,443 23,923 Comprehensive income 23,208 4,443 27,651 Basic income per common share after preferred dividends (in cents) 3.6 0.7 4.3 Diluted income per common share after preferred dividends (in cents) 3.6 0.7 4.3 — Condensed Consolidated Statements of Cash Flows (Unaudited) Net income 19,756 4,443 24,199 Depreciation, depletion and amortization 98,121 (5,260 ) 92,861 Deferred income taxes (8,562 ) 817 (7,745 ) Cash provided by operating activities 124,240 — 124,240 Three Months Ended March 31, 2020 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) Cost of sales and other direct production costs $ 85,887 $ (167 ) $ 85,720 Depreciation, depletion and amortization 39,666 (1,851 ) 37,815 Total cost of sales 125,553 (2,018 ) 123,535 Gross profit 11,372 2,018 13,390 Loss from operations (15,064 ) 2,018 (13,046 ) Loss before income and mining taxes (18,247 ) 2,018 (16,229 ) Income and mining tax benefit 1,062 (657 ) 405 Net loss (17,185 ) 1,361 (15,824 ) Loss applicable to common shareholders (17,323 ) 1,361 (15,962 ) Comprehensive loss (36,520 ) 1,361 (35,159 ) Basic loss per common share after preferred dividends (in cents) (3.3 ) 0.3 (3.0 ) Diluted loss per common share after preferred dividends (in cents) (3.3 ) 0.3 (3.0 ) — Condensed Consolidated Statements of Cash Flows (Unaudited) Net loss (17,185 ) 1,361 (15,824 ) Depreciation, depletion and amortization 41,630 (1,851 ) 39,779 Deferred income taxes (3,252 ) 490 (2,762 ) Cash provided by operating activities 4,927 — 4,927 Three Months Ended June 30, 2020 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) Cost of sales and other direct production costs $ 92,853 $ (1,295 ) $ 91,558 Depreciation, depletion and amortization 39,423 (2,736 ) 36,687 Total cost of sales 132,276 (4,031 ) 128,245 Gross profit 34,079 4,031 38,110 Income from operations 9,874 4,031 13,905 Loss before income and mining taxes (13,402 ) 4,031 (9,371 ) Income and mining tax provision (626 ) (2,020 ) (2,646 ) Net loss (14,028 ) 2,011 (12,017 ) Income applicable to common shareholders (14,166 ) 2,011 (12,155 ) Comprehensive loss (3,644 ) 2,011 (1,633 ) Basic loss per common share after preferred dividends (in cents) (2.7 ) 0.4 (2.3 ) Diluted loss per common share after preferred dividends (in cents) (2.7 ) 0.4 (2.3 ) Six Months Ended June 30, 2020 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) Cost of sales and other direct production costs $ 178,740 $ (1,462 ) $ 177,278 Depreciation, depletion and amortization 79,089 (4,587 ) 74,502 Total cost of sales 257,829 (6,049 ) 251,780 Gross profit 45,451 6,049 51,500 (Loss) income from operations (4,513 ) 6,049 1,536 Loss before income and mining taxes (31,649 ) 6,049 (25,600 ) Income and mining tax benefit (provision) 436 (2,678 ) (2,242 ) Net loss (31,213 ) 3,371 (27,842 ) Loss applicable to common shareholders (31,489 ) 3,371 (28,118 ) Comprehensive loss (40,164 ) 3,371 (36,793 ) Basic loss per common share after preferred dividends (in cents) (6.0 ) 0.6 (5.4 ) Diluted loss per common share after preferred dividends (in cents) (6.0 ) 0.6 (5.4 ) Condensed Consolidated Statements of Cash Flows (Unaudited) Net loss (31,213 ) 3,371 (27,842 ) Depreciation, depletion and amortization 84,185 (4,587 ) 79,598 Deferred income taxes (5,165 ) 1,216 (3,949 ) Cash provided by operating activities 42,453 — 42,453 Three Months Ended September 30, 2020 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) Cost of sales and other direct production costs $ 105,977 $ (2,952 ) $ 103,025 Depreciation, depletion and amortization 40,238 (2,248 ) 37,990 Total cost of sales 146,215 (5,200 ) 141,015 Gross profit 53,488 5,200 58,688 Income from operations 31,315 5,200 36,515 Income before income and mining taxes 15,261 5,200 20,461 Income and mining tax provision (1,633 ) (3,548 ) (5,181 ) Net income 13,628 1,652 15,280 Income applicable to common shareholders 13,490 1,652 15,142 Comprehensive income 19,778 1,652 21,430 Basic income per common share after preferred dividends (in cents) 2.6 0.3 2.9 Diluted income per common share after preferred dividends (in cents) 2.6 0.2 2.8 Nine Months Ended September 30, 2020 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) Cost of sales and other direct production costs $ 284,717 $ (4,414 ) $ 280,303 Depreciation, depletion and amortization 119,327 (6,835 ) 112,492 Total cost of sales 404,044 (11,249 ) 392,795 Gross profit 98,939 11,249 110,188 Income from operations 26,802 11,249 38,051 Loss before income and mining taxes (16,388 ) 11,249 (5,139 ) Income and mining tax benefit (provision) (1,197 ) (6,226 ) (7,423 ) Net loss (17,585 ) 5,023 (12,562 ) Loss applicable to common shareholders (17,999 ) 5,023 (12,976 ) Comprehensive income (20,386 ) 5,023 (15,363 ) Basic loss per common share after preferred dividends (in cents) (3.4 ) 0.9 (2.5 ) Diluted loss per common share after preferred dividends (in cents) (3.4 ) 0.9 (2.5 ) Condensed Consolidated Statements of Cash Flows (Unaudited) Net loss (17,585 ) 5,023 (12,562 ) Depreciation, depletion and amortization 126,911 (6,835 ) 120,076 Deferred income taxes (6,390 ) 1,812 (4,578 ) Cash provided by operating activities 115,892 — 115,892 For the Year Ended December 31, 2018 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Consolidated Statements of Operations and Comprehensive Loss Cost of sales and other direct production costs $ 353,994 $ (1,844 ) $ 352,150 Depreciation, depletion and amortization 134,044 (2,224 ) 131,820 Total cost of sales 488,038 (4,068 ) 483,970 Gross profit 79,099 (4,068 ) 75,031 Loss from operations (39,126 ) 4,068 (35,058 ) Loss before income and mining taxes (33,264 ) 4,068 (29,196 ) Income and mining tax benefit 6,701 (4,256 ) 2,445 Net loss (26,563 ) (188 ) (26,751 ) Loss applicable to common shareholders (27,115 ) (188 ) (27,303 ) Comprehensive loss (44,370 ) (188 ) (44,558 ) Basic loss per common share after preferred dividends (in cents) (6.3 ) — (6.3 ) Diluted loss per common share after preferred dividends (in cents) (6.3 ) — (6.3 ) Consolidated Statements of Cash Flows Net loss (26,563 ) (188 ) (26,751 ) Depreciation, depletion and amortization 140,905 (2,224 ) 138,681 Deferred income taxes 6,278 2,412 8,690 Cash provided by operating activities 94,221 — 94,221 As of and for the Year Ended December 31, 2019 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Consolidated Balance Sheet Inventories: Concentrates, doré, and stockpiled ore $ 30,364 $ (286 ) $ 30,078 Total current assets 179,124 (286 ) 178,838 Properties, plants, equipment and mineral interests, net 2,423,698 23,752 2,447,450 Total assets 2,637,308 23,466 2,660,774 Deferred tax liability 138,282 19,355 157,637 Total liabilities 944,885 19,355 964,240 Accumulated deficit (353,331 ) 4,111 (349,220 ) Total shareholders' equity 1,692,423 4,111 1,696,534 Total liabilities and shareholders' equity 2,637,308 23,466 2,660,774 Consolidated Statements of Operations and Comprehensive Loss Cost of sales and other direct production costs $ 450,349 $ (2,364 ) $ 447,985 Depreciation, depletion and amortization 199,518 (8,067 ) 191,451 Total cost of sales 649,867 (10,431 ) 639,436 Gross profit 23,399 10,431 33,830 Loss from operations (57,109 ) 10,431 (46,678 ) Loss before income and mining taxes (123,658 ) 10,431 (113,227 ) Income and mining tax benefit 24,101 (5,783 ) 18,318 Net loss (99,557 ) 4,648 (94,909 ) Loss applicable to common shareholders (100,109 ) 4,648 (95,461 ) Comprehensive loss (94,398 ) 4,648 (89,750 ) Basic loss per common share after preferred dividends (in cents) (20.4 ) 0.9 (19.5 ) Diluted loss per common share after preferred dividends (in cents) (20.4 ) 0.9 (19.5 ) Consolidated Statements of Cash Flows Net loss (99,557 ) 4,648 (94,909 ) Depreciation, depletion and amortization 204,475 (8,067 ) 196,408 Deferred income taxes 5,668 3,419 9,087 Cash provided by operating activities 120,866 — 120,866 As of and for the Year Ended December 31, 2020 (in thousands, except per share amounts) As Previously Reported Adjustment As Revised Consolidated Balance Sheet Inventories: Concentrates, doré, and stockpiled ore $ 57,936 $ (369 ) $ 57,567 Total current assets 284,681 (369 ) 284,312 Properties, plants, equipment and mineral interests, net 2,345,219 32,855 2,378,074 Total assets 2,667,724 32,486 2,700,210 Accrued taxes 8,349 (2,575 ) 5,774 Total current liabilities 149,785 (2,575 ) 147,210 Deferred tax liability 132,475 23,616 156,091 Total liabilities 965,384 21,041 986,425 Accumulated deficit (379,519 ) 11,445 (368,074 ) Total shareholders' equity 1,702,340 11,445 1,713,785 Total liabilities and shareholders' equity 2,667,724 32,486 2,700,210 Consolidated Statements of Operations and Comprehensive Loss Cost of sales and other direct production costs 389,040 (6,377 ) 382,663 Depreciation, depletion and amortization 157,130 (9,020 ) 148,110 Total cost of sales 546,170 (15,397 ) 530,773 Gross profit 145,703 15,397 161,100 Income from operations 51,581 15,397 66,978 Loss before income and mining taxes (16,655 ) 15,397 (1,258 ) Income and mining tax provision (135 ) (8,064 ) (8,199 ) Net loss (16,790 ) 7,333 (9,457 ) Loss applicable to common shareholders (17,342 ) 7,333 (10,009 ) Comprehensive loss (12,369 ) 7,333 (5,036 ) Basic loss per common share after preferred dividends (in cents) (3.3 ) 1.4 (1.9 ) Diluted loss per common share after preferred dividends (in cents) (3.3 ) 1.4 (1.9 ) Consolidated Statements of Cash Flows Net loss (16,790 ) 7,333 (9,457 ) Depreciation, depletion and amortization 164,026 (9,020 ) 155,006 Deferred income taxes (5,505 ) 1,687 (3,818 ) Cash provided by operating activities 180,793 — 180,793 |
Note 3 - Business Segments an_2
Note 3 - Business Segments and Sales of Products (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net sales to unaffiliated customers: Greens Creek $ 84,806 $ 93,494 $ 296,978 $ 232,218 Lucky Friday 29,783 20,812 98,550 35,097 Casa Berardi 56,065 53,554 185,098 149,731 San Sebastian — 9,138 176 23,998 Nevada Operations 22,906 22,705 41,593 61,939 $ 193,560 $ 199,703 $ 622,395 $ 502,983 Income (loss) from operations: Revised Revised Greens Creek $ 26,572 $ 44,477 $ 127,605 $ 76,762 Lucky Friday 6,187 950 24,247 (12,388 ) Casa Berardi (6,233 ) 1,419 4,944 5,330 San Sebastian (1,727 ) 1,946 (4,951 ) 1,766 Nevada Operations (12,077 ) 5,486 (35,558 ) 6,830 Other (21,294 ) (17,763 ) (54,688 ) (40,249 ) $ (8,572 ) $ 36,515 $ 61,599 $ 38,051 September 30, 2021 December 31, 2020 Identifiable assets: Revised Greens Creek $ 607,207 $ 610,360 Lucky Friday 512,742 520,463 Casa Berardi 705,328 727,008 San Sebastian 38,186 42,617 Nevada Operations 477,621 513,309 Other 333,333 286,453 $ 2,674,417 $ 2,700,210 |
Revenue from External Customers by Products and Services [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Silver $ 61,890 $ 79,684 $ 232,414 $ 179,013 Gold 94,984 98,457 282,471 278,363 Lead 18,082 13,370 56,198 32,244 Zinc 30,273 26,779 89,501 65,540 Less: Smelter and refining charges (11,669 ) (18,587 ) (38,189 ) (52,177 ) Sales of products $ 193,560 $ 199,703 $ 622,395 $ 502,983 |
Note 4 - Income and Mining Ta_2
Note 4 - Income and Mining Taxes (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Revised Revised Current: Domestic $ (2,176 ) $ (705 ) $ (7,489 ) $ 1,690 Foreign (1,578 ) (2,286 ) (4,690 ) (6,005 ) Total current income and mining tax provision (3,754 ) (2,991 ) (12,179 ) (7,695 ) Deferred: Domestic 3,213 (2,761 ) 8,226 (1,108 ) Foreign 5,074 571 7,877 1,380 Total deferred income and mining tax benefit 8,287 (2,190 ) 16,103 272 Total income and mining tax benefit (provision) $ 4,533 $ (5,181 ) $ 3,924 $ (7,423 ) |
Note 5 - Employee Benefit Pla_2
Note 5 - Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Service cost $ 1,455 $ 1,334 $ 4,365 $ 4,002 Interest cost 1,248 1,404 3,744 4,212 Expected return on plan assets (2,313 ) (1,872 ) (6,939 ) (5,616 ) Amortization of prior service cost 99 29 297 87 Amortization of net loss 1,125 1,163 3,375 3,489 Net periodic pension cost $ 1,614 $ 2,058 $ 4,842 $ 6,174 |
Note 6 - (Loss) Income Per Co_2
Note 6 - (Loss) Income Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revised Revised Numerator Net (loss) income $ (979 ) $ 15,280 $ 23,220 $ (12,562 ) Preferred stock dividends (138 ) (138 ) (414 ) (414 ) Net (loss) income applicable to common shares $ (1,117 ) $ 15,142 $ 22,806 $ (12,976 ) Denominator Basic weighted average common shares 536,966 529,838 535,542 526,098 Dilutive restricted stock units, warrants and deferred shares — 5,950 6,227 — Diluted weighted average common shares 536,966 535,788 541,769 526,098 Basic (loss) income per common share (in cents) (0.2 ) 2.9 4.3 (2.5 ) Diluted (loss) income per common share (in cents) (0.2 ) 2.8 4.2 (2.5 ) |
Note 7 - Stockholders' Equity (
Note 7 - Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Potential Per Share Dividend Amounts Quarterly Price Levels [Table Text Block] | Quarterly Average Realized Silver Price ($ per ounce) Quarterly Silver- Linked Dividend (cents per share) Annualized Silver- Linked Dividend (cents per share) Annualized Minimum Dividend (cents per share) Annualized Dividends per Share: Silver- Linked and Minimum (cents per share) $20 0.25 1 1.5 2.5 $25 1 4 1.5 5.5 $30 1.5 6 1.5 7.5 $35 2.5 10 1.5 11.5 $40 3.5 14 1.5 15.5 $45 4.5 18 1.5 19.5 $50 5.5 22 1.5 23.5 |
Note 8 - Debt, Credit Facilit_2
Note 8 - Debt, Credit Facility and Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | September 30, 2021 Senior Notes IQ Notes Total Principal $ 475,000 $ 37,862 $ 512,862 Unamortized discount/premium and issuance costs (5,779 ) 629 (5,150 ) Long-term debt balance $ 469,221 $ 38,491 $ 507,712 December 31, 2020 Senior Notes IQ Notes Total Principal $ 475,000 $ 37,886 $ 512,886 Unamortized discount/premium and issuance costs (6,462 ) 818 (5,644 ) Long-term debt balance $ 468,538 $ 38,704 $ 507,242 |
Schedule of Maturities of Long Term Debt and Finance and Operating Lease Liabilities [Table Text Block] | Twelve-month period ending September 30, Senior Notes IQ Notes Finance Leases Operating Leases 2022 $ 34,438 $ 2,467 $ 6,336 $ 3,166 2023 34,438 2,467 4,590 2,590 2024 34,438 2,467 3,313 1,037 2025 34,438 2,467 855 533 2026 34,438 37,301 — 524 Thereafter 522,349 — — 1,953 Total $ 694,539 $ 47,169 $ 15,094 $ 9,803 |
Note 9 - Derivative Instrumen_2
Note 9 - Derivative Instruments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Foreign Exchange Contracts, Statement of Financial Position [Table Text Block] | September 30, December 31, Balance sheet line item: 2021 2020 Current derivatives assets $ 2.5 $ 3.5 Non-current derivatives assets 2.2 4.2 Current derivatives liability — — Non-current derivative liability 0.2 — |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | September 30, 2021 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 2021 settlements 1,190 4 20,867 9,866 $ 23.15 $ 1,776 $ 1.35 $ 1.01 Contracts on forecasted sales 2021 settlements — — 7,771 6,779 N/A N/A $ 1.26 $ 0.94 2022 settlements — — 60,043 63,769 N/A N/A $ 1.28 $ 0.98 2023 settlements — — 76,280 70,327 N/A N/A $ 1.29 $ 1.00 2024 settlements — — 43,762 — N/A N/A $ 1.31 N/A December 31, 2020 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 2021 settlements 1,282 4 23,314 4,905 $ 25.00 $ 1,858 $ 1.19 $ 0.90 Contracts on forecasted sales 2021 settlements — — 41,577 30,876 N/A N/A $ 1.17 $ 0.88 2022 settlements — — 18,519 — N/A N/A $ 1.28 N/A |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | September 30, 2021 December 31, 2020 Balance sheet line item: Contracts in an asset position Contracts in a liability position Net asset (liability) Contracts in an asset position Contracts in a liability position Net asset (liability) Current derivatives assets $ 3.1 $ (0.4 ) $ 2.7 $ 0.2 $ (0.2 ) $ — Non-current derivatives assets 7.1 (2.5 ) 4.6 0.5 (0.1 ) 0.4 Current derivatives liabilities 0.3 (4.4 ) (4.1 ) 0.1 (11.8 ) (11.7 ) Non-current derivatives liabilities 1.2 (1.8 ) (0.6 ) — — — |
Note 10 - Fair Value Measurem_2
Note 10 - Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Description Balance at September 30, 2021 Balance at December 31, 2020 Input Hierarchy Level Assets: Cash and cash equivalents: Money market funds and other bank deposits $ 190,904 $ 129,830 Level 1 Current and non-current investments: Equity securities 8,030 19,389 Level 1 Trade accounts receivable: Receivables from provisional concentrate sales 32,821 27,864 Level 2 Restricted cash balances: Certificates of deposit and other deposits 1,053 1,053 Level 1 Derivative contracts - current and non-current derivative assets: Foreign exchange contracts 4,655 7,647 Level 2 Metal forward and put option contracts 7,313 381 Level 2 Total assets $ 244,776 $ 186,164 Liabilities: Derivative contracts - current derivatives liabilities and other non-current liabilities: Foreign exchange contracts $ 200 $ 19 Level 2 Metal forward and put option contracts 4,731 11,737 Level 2 Total liabilities $ 4,931 $ 11,756 |
Note 1 - Basis of Preparation_2
Note 1 - Basis of Preparation of Financial Statements (Details Textual) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($)oz | |
Casa Berardi [Member] | |||
Decrease in Expected Gold Production Due to Suspension (Ounce) | oz | 11,700 | ||
Suspension Costs | $ 1.6 | ||
Pandemic Related Procedures Costs | $ 1.9 | ||
San Sebastian [Member] | |||
Suspension Costs | 1.8 | ||
Greens Creek [Member] | |||
Suspension Costs from Quarantining Employee Per Week | $ 1 | $ 2.3 | |
Percentage of Increase (Decrease) in Silver Production | (30.00%) |
Note 2 - Revision of Previous_3
Note 2 - Revision of Previously Issued Financial Statements for Immaterial Misstatements (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2021 | Mar. 31, 2021 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Depreciation, Depletion and Amortization, Total | $ 46,957 | $ 39,779 | $ 92,861 | $ 79,598 | $ 139,800 | $ 120,076 | $ 155,006 | $ 196,408 | $ 138,681 | |
Revision of Prior Period, Adjustment [Member] | ||||||||||
Depreciation, Depletion and Amortization, Total | $ (2,589) | $ (1,851) | $ (5,260) | $ (4,587) | $ (6,835) | $ (9,020) | $ (8,067) | $ (2,224) | ||
Revision of Prior Period, Adjustment [Member] | Hecla Quebec. Inc [Member] | ||||||||||
Depreciation, Depletion and Amortization, Total | $ 38,200 |
Note 2 - Revision of Previous_4
Note 2 - Revision of Previously Issued Financial Statements for Immaterial Misstatements (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Depreciation, depletion and amortization | $ 45,790 | $ 45,732 | $ 46,742 | $ 37,990 | $ 36,687 | $ 37,815 | $ 92,474 | $ 74,502 | $ 138,918 | $ 112,492 | $ 148,110 | $ 191,451 | $ 131,820 |
Total cost of sales | 158,332 | 156,052 | 143,451 | 141,015 | 128,245 | 123,535 | 299,503 | 251,780 | 457,835 | 392,795 | 530,773 | 639,436 | 483,970 |
Gross profit | 35,228 | 61,931 | 67,401 | 58,688 | 38,110 | 13,390 | 129,332 | 51,500 | 164,560 | 110,188 | 161,100 | 33,830 | 75,031 |
Income from operations | (8,572) | 29,133 | 41,038 | 36,515 | 13,905 | (13,046) | 70,171 | 1,536 | 61,599 | 38,051 | 66,978 | (46,678) | (35,058) |
Income before income and mining taxes | (5,512) | (1,386) | 26,194 | 20,461 | (9,371) | (16,229) | 24,808 | (25,600) | 19,296 | (5,139) | (1,258) | (113,227) | (29,196) |
Income and mining tax benefit (provision) | 4,533 | 4,134 | (4,743) | (5,181) | (2,646) | 405 | (609) | (2,242) | 3,924 | (7,423) | (8,199) | 18,318 | 2,445 |
Net income | (979) | 2,748 | 21,451 | 15,280 | (12,017) | (15,824) | 24,199 | (27,842) | 23,220 | (12,562) | (9,457) | (94,909) | (26,751) |
Income applicable to common shareholders | (1,117) | 2,610 | 21,313 | 15,142 | (12,155) | (15,962) | 23,923 | (28,118) | 22,806 | (12,976) | (10,009) | (95,461) | (27,303) |
Comprehensive income | $ (7,246) | $ 4,368 | $ 23,283 | $ 21,430 | $ (1,633) | $ (35,159) | $ 27,651 | $ (36,793) | $ 20,405 | $ (15,363) | $ (5,036) | $ (89,750) | $ (44,558) |
Basic income per common share after preferred dividends (in cents) (in dollars per share) | $ (0.002) | $ 0.005 | $ 0.04 | $ 0.029 | $ (0.023) | $ (0.030) | $ 0.043 | $ (0.054) | $ 0.043 | $ (0.025) | $ (0.019) | $ (0.195) | $ (0.063) |
Diluted income per common share after preferred dividends (in cents) (in dollars per share) | $ (0.002) | $ 0.005 | $ 0.04 | $ 0.028 | $ (0.023) | $ (0.030) | $ 0.043 | $ (0.054) | $ 0.042 | $ (0.025) | $ (0.019) | $ (0.195) | $ (0.063) |
Depreciation, Depletion and Amortization, Total | $ 46,957 | $ 39,779 | $ 92,861 | $ 79,598 | $ 139,800 | $ 120,076 | $ 155,006 | $ 196,408 | $ 138,681 | ||||
Deferred income taxes | 141 | (2,762) | (7,745) | (3,949) | (4,578) | 8,690 | |||||||
Cash provided by operating activities | 37,936 | 4,927 | 124,240 | 42,453 | 166,982 | 115,892 | 180,793 | 120,866 | 94,221 | ||||
Cost of sales and other direct production costs | $ 112,542 | $ 103,025 | $ 91,558 | 85,720 | 177,278 | 318,917 | 280,303 | 382,663 | 447,985 | 352,150 | |||
Inventories: Concentrates, doré, and stockpiled ore | 57,567 | 30,078 | |||||||||||
Total current assets | 310,280 | 310,280 | 284,312 | 178,838 | |||||||||
Properties, plants, equipment and mineral interests, net | 2,331,018 | 2,331,018 | 2,378,074 | 2,447,450 | |||||||||
Total assets | 2,674,417 | 2,674,417 | 2,700,210 | 2,660,774 | |||||||||
Deferred tax liability | 142,750 | 142,750 | 156,091 | 157,637 | |||||||||
Total liabilities | 931,442 | 931,442 | 986,425 | 964,240 | |||||||||
Accumulated deficit | (362,023) | (362,023) | (368,074) | (349,220) | |||||||||
Total shareholders' equity | 1,742,975 | $ 1,748,425 | 1,702,782 | 1,666,176 | 1,748,425 | 1,666,176 | 1,742,975 | 1,702,782 | 1,713,785 | 1,696,534 | |||
Total liabilities and shareholders' equity | 2,674,417 | 2,674,417 | 2,700,210 | 2,660,774 | |||||||||
Deferred income taxes | (3,818) | 9,087 | |||||||||||
Accrued taxes | 8,557 | 8,557 | 5,774 | ||||||||||
Total current liabilities | $ 126,182 | $ 126,182 | 147,210 | ||||||||||
Previously Reported [Member] | |||||||||||||
Depreciation, depletion and amortization | 48,403 | 49,331 | 40,238 | 39,423 | 39,666 | 97,734 | 79,089 | 119,327 | 157,130 | 199,518 | 134,044 | ||
Total cost of sales | 158,723 | 146,040 | 146,215 | 132,276 | 125,553 | 304,763 | 257,829 | 404,044 | 546,170 | 649,867 | 488,038 | ||
Gross profit | 59,260 | 64,812 | 53,488 | 34,079 | 11,372 | 124,072 | 45,451 | 98,939 | 145,703 | 23,399 | 79,099 | ||
Income from operations | 26,462 | 38,449 | 31,315 | 9,874 | (15,064) | 64,911 | (4,513) | 26,802 | 51,581 | (57,109) | (39,126) | ||
Income before income and mining taxes | (4,057) | 23,605 | 15,261 | (13,402) | (18,247) | 19,548 | (31,649) | (16,388) | (16,655) | (123,658) | (33,264) | ||
Income and mining tax benefit (provision) | 4,842 | (4,634) | (1,633) | (626) | 1,062 | 208 | 436 | (1,197) | (135) | 24,101 | 6,701 | ||
Net income | 785 | 18,971 | 13,628 | (14,028) | (17,185) | 19,756 | (31,213) | (17,585) | (16,790) | (99,557) | (26,563) | ||
Income applicable to common shareholders | 647 | 18,833 | 13,490 | (14,166) | (17,323) | 19,480 | (31,489) | (17,999) | (17,342) | (100,109) | (27,115) | ||
Comprehensive income | $ 2,405 | $ 20,803 | $ 19,778 | $ (3,644) | $ (36,520) | $ 23,208 | $ (40,164) | $ (20,386) | $ (12,369) | $ (94,398) | $ (44,370) | ||
Basic income per common share after preferred dividends (in cents) (in dollars per share) | $ 0.001 | $ 0.035 | $ 0.026 | $ (0.027) | $ (0.033) | $ 0.036 | $ (0.060) | $ (0.034) | $ (0.033) | $ (0.204) | $ (0.063) | ||
Diluted income per common share after preferred dividends (in cents) (in dollars per share) | $ 0.001 | $ 0.035 | $ 0.026 | $ (0.027) | $ (0.033) | $ 0.036 | $ (0.060) | $ (0.034) | $ (0.033) | $ (0.204) | $ (0.063) | ||
Depreciation, Depletion and Amortization, Total | $ 49,546 | $ 41,630 | $ 98,121 | $ 84,185 | $ 126,911 | $ 164,026 | $ 204,475 | $ 140,905 | |||||
Deferred income taxes | 32 | (3,252) | (8,562) | (5,165) | (6,390) | 6,278 | |||||||
Cash provided by operating activities | 37,936 | 4,927 | 124,240 | 42,453 | 115,892 | 180,793 | 120,866 | 94,221 | |||||
Cost of sales and other direct production costs | $ 105,977 | $ 92,853 | 85,887 | 178,740 | 284,717 | 389,040 | 450,349 | 353,994 | |||||
Inventories: Concentrates, doré, and stockpiled ore | 57,936 | 30,364 | |||||||||||
Total current assets | 284,681 | 179,124 | |||||||||||
Properties, plants, equipment and mineral interests, net | 2,345,219 | 2,423,698 | |||||||||||
Total assets | 2,667,724 | 2,637,308 | |||||||||||
Deferred tax liability | 132,475 | 138,282 | |||||||||||
Total liabilities | 965,384 | 944,885 | |||||||||||
Accumulated deficit | (379,519) | (353,331) | |||||||||||
Total shareholders' equity | 1,702,340 | 1,692,423 | |||||||||||
Total liabilities and shareholders' equity | 2,667,724 | 2,637,308 | |||||||||||
Deferred income taxes | (5,505) | 5,668 | |||||||||||
Accrued taxes | 8,349 | ||||||||||||
Total current liabilities | 149,785 | ||||||||||||
Revision of Prior Period, Adjustment [Member] | |||||||||||||
Depreciation, depletion and amortization | $ (2,671) | (2,589) | (2,248) | (2,736) | (1,851) | (5,260) | (4,587) | (6,835) | (9,020) | (8,067) | (2,224) | ||
Total cost of sales | (2,671) | (2,589) | (5,200) | (4,031) | (2,018) | (5,260) | (6,049) | (11,249) | (15,397) | (10,431) | (4,068) | ||
Gross profit | 2,671 | 2,589 | 5,200 | 4,031 | 2,018 | 5,260 | 6,049 | 11,249 | 15,397 | 10,431 | (4,068) | ||
Income from operations | 2,671 | 2,589 | 5,200 | 4,031 | 2,018 | 5,260 | 6,049 | 11,249 | 15,397 | 10,431 | 4,068 | ||
Income before income and mining taxes | 2,671 | 2,589 | 5,200 | 4,031 | 2,018 | 5,260 | 6,049 | 11,249 | 15,397 | 10,431 | 4,068 | ||
Income and mining tax benefit (provision) | (708) | (109) | (3,548) | (2,020) | (657) | (817) | (2,678) | (6,226) | (8,064) | (5,783) | (4,256) | ||
Net income | 1,963 | 2,480 | 1,652 | 2,011 | 1,361 | 4,443 | 3,371 | 5,023 | 7,333 | 4,648 | (188) | ||
Income applicable to common shareholders | 1,963 | 2,480 | 1,652 | 2,011 | 1,361 | 4,443 | 3,371 | 5,023 | 7,333 | 4,648 | (188) | ||
Comprehensive income | $ 1,963 | $ 2,480 | $ 1,652 | $ 2,011 | $ 1,361 | $ 4,443 | $ 3,371 | $ 5,023 | $ 7,333 | $ 4,648 | $ (188) | ||
Basic income per common share after preferred dividends (in cents) (in dollars per share) | $ 0.004 | $ 0.005 | $ 0.003 | $ 0.004 | $ 0.003 | $ 0.007 | $ 0.006 | $ 0.009 | $ 0.014 | $ 0.009 | $ 0 | ||
Diluted income per common share after preferred dividends (in cents) (in dollars per share) | $ 0.004 | $ 0.005 | $ 0.002 | $ 0.004 | $ 0.003 | $ 0.007 | $ 0.006 | $ 0.009 | $ 0.014 | $ 0.009 | $ 0 | ||
Depreciation, Depletion and Amortization, Total | $ (2,589) | $ (1,851) | $ (5,260) | $ (4,587) | $ (6,835) | $ (9,020) | $ (8,067) | $ (2,224) | |||||
Deferred income taxes | 109 | 490 | 817 | 1,216 | 1,812 | 2,412 | |||||||
Cash provided by operating activities | $ 0 | 0 | $ 0 | 0 | 0 | 0 | 0 | 0 | |||||
Cost of sales and other direct production costs | $ (2,952) | $ (1,295) | $ (167) | $ (1,462) | $ (4,414) | (6,377) | (2,364) | $ (1,844) | |||||
Inventories: Concentrates, doré, and stockpiled ore | (369) | (286) | |||||||||||
Total current assets | (369) | (286) | |||||||||||
Properties, plants, equipment and mineral interests, net | 32,855 | 23,752 | |||||||||||
Total assets | 32,486 | 23,466 | |||||||||||
Deferred tax liability | 23,616 | 19,355 | |||||||||||
Total liabilities | 21,041 | 19,355 | |||||||||||
Accumulated deficit | 11,445 | 4,111 | |||||||||||
Total shareholders' equity | 11,445 | 4,111 | |||||||||||
Total liabilities and shareholders' equity | 32,486 | 23,466 | |||||||||||
Deferred income taxes | 1,687 | $ 3,419 | |||||||||||
Accrued taxes | (2,575) | ||||||||||||
Total current liabilities | $ (2,575) |
Note 3 - Business Segments an_3
Note 3 - Business Segments and Sales of Products (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | |
Number of Reportable Segments | 5 | |||
Derivative, Gain (Loss) on Derivative, Net, Total | $ 13,937 | $ (4,483) | ||
Financially-settled Forward Contracts [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net, Total | $ 5,000 | $ 9,600 | $ 4,500 | $ 12,900 |
Note 3 - Business Segments an_4
Note 3 - Business Segments and Sales of Products - Information About Reportable Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net sales | $ 193,560 | $ 199,703 | $ 622,395 | $ 502,983 | |||||||||
Income (loss) from operations | (8,572) | $ 29,133 | $ 41,038 | 36,515 | $ 13,905 | $ (13,046) | $ 70,171 | $ 1,536 | 61,599 | 38,051 | $ 66,978 | $ (46,678) | $ (35,058) |
Total assets | 2,674,417 | 2,674,417 | 2,700,210 | $ 2,660,774 | |||||||||
Greens Creek [Member] | |||||||||||||
Net sales | 84,806 | 93,494 | 296,978 | 232,218 | |||||||||
Income (loss) from operations | 26,572 | 44,477 | 127,605 | 76,762 | |||||||||
Total assets | 607,207 | 607,207 | 610,360 | ||||||||||
Lucky Friday [Member] | |||||||||||||
Net sales | 29,783 | 20,812 | 98,550 | 35,097 | |||||||||
Income (loss) from operations | 6,187 | 950 | 24,247 | (12,388) | |||||||||
Total assets | 512,742 | 512,742 | 520,463 | ||||||||||
Casa Berardi [Member] | |||||||||||||
Net sales | 56,065 | 53,554 | 185,098 | 149,731 | |||||||||
Income (loss) from operations | (6,233) | 1,419 | 4,944 | 5,330 | |||||||||
Total assets | 705,328 | 705,328 | 727,008 | ||||||||||
San Sebastian [Member] | |||||||||||||
Net sales | 0 | 9,138 | 176 | 23,998 | |||||||||
Income (loss) from operations | (1,727) | 1,946 | (4,951) | 1,766 | |||||||||
Total assets | 38,186 | 38,186 | 42,617 | ||||||||||
Nevada Operations [Member] | |||||||||||||
Net sales | 22,906 | 22,705 | 41,593 | 61,939 | |||||||||
Income (loss) from operations | (12,077) | 5,486 | (35,558) | 6,830 | |||||||||
Total assets | 477,621 | 477,621 | 513,309 | ||||||||||
Other Segments [Member] | |||||||||||||
Income (loss) from operations | (21,294) | $ (17,763) | (54,688) | $ (40,249) | |||||||||
Total assets | $ 333,333 | $ 333,333 | $ 286,453 |
Note 3 - Business Segments an_5
Note 3 - Business Segments and Sales of Products - Sales of Products (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Sales of products | $ 193,560 | $ 199,703 | $ 622,395 | $ 502,983 |
Less: Smelter and refining charges | (11,669) | (18,587) | (38,189) | (52,177) |
Silver Contracts [Member] | ||||
Sales of products | 61,890 | 79,684 | 232,414 | 179,013 |
Gold [Member] | ||||
Sales of products | 94,984 | 98,457 | 282,471 | 278,363 |
Lead [Member] | ||||
Sales of products | 18,082 | 13,370 | 56,198 | 32,244 |
Zinc [Member] | ||||
Sales of products | $ 30,273 | $ 26,779 | $ 89,501 | $ 65,540 |
Note 4 - Income and Mining Ta_3
Note 4 - Income and Mining Taxes (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2021 | Sep. 30, 2021 | |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 1.1 | $ 9.7 |
Note 4 - Income and Mining Ta_4
Note 4 - Income and Mining Taxes - Major Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Domestic | $ (2,176) | $ (705) | $ (7,489) | $ 1,690 | |||||||||
Foreign | (1,578) | (2,286) | (4,690) | (6,005) | |||||||||
Total current income and mining tax provision | (3,754) | (2,991) | (12,179) | (7,695) | |||||||||
Domestic | 3,213 | (2,761) | 8,226 | (1,108) | |||||||||
Foreign | 5,074 | 571 | 7,877 | 1,380 | |||||||||
Total deferred income and mining tax benefit | 8,287 | (2,190) | 16,103 | 272 | |||||||||
Total income and mining tax benefit (provision) | $ 4,533 | $ 4,134 | $ (4,743) | $ (5,181) | $ (2,646) | $ 405 | $ (609) | $ (2,242) | $ 3,924 | $ (7,423) | $ (8,199) | $ 18,318 | $ 2,445 |
Note 5 - Employee Benefit Pla_3
Note 5 - Employee Benefit Plans (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Jan. 31, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Jan. 01, 2021 | |
Supplemental Employee Retirement Plan [Member] | ||||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 16.8 | |||||
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year | $ 5.5 | $ 5.5 | $ 0.8 | |||
Other Nonoperating Income (Expense) [Member] | ||||||
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component | $ 0.2 | $ 0.7 | $ 0.5 | $ 2.2 |
Note 5 - Employee Benefit Pla_4
Note 5 - Employee Benefit Plans - Net Periodic Pension Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Service cost | $ 1,455 | $ 1,334 | $ 4,365 | $ 4,002 |
Interest cost | 1,248 | 1,404 | 3,744 | 4,212 |
Expected return on plan assets | (2,313) | (1,872) | (6,939) | (5,616) |
Amortization of prior service cost | 99 | 29 | 297 | 87 |
Amortization of net loss | 1,125 | 1,163 | 3,375 | 3,489 |
Net periodic pension cost | $ 1,614 | $ 2,058 | $ 4,842 | $ 6,174 |
Note 6 - (Loss) Income Per Co_3
Note 6 - (Loss) Income Per Common Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2021 | |
Incremental Common Shares Attributable to Share-based Payment Arrangements, Total (in shares) | 2,499,956 | 2,496,622 |
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants (in shares) | 1,454,246 | 1,578,293 |
Incremental Common Shares Attributable to Dilutive Effect of Deferred Shares (in shares) | 1,996,112 | 2,152,578 |
Note 6 - (Loss) Income Per Co_4
Note 6 - (Loss) Income Per Common Share - Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income (loss) | $ (979) | $ 2,748 | $ 21,451 | $ 15,280 | $ (12,017) | $ (15,824) | $ 24,199 | $ (27,842) | $ 23,220 | $ (12,562) | $ (9,457) | $ (94,909) | $ (26,751) |
Series B Preferred Stock dividends declared | (138) | (138) | (414) | (414) | |||||||||
Net (loss) income applicable to common shares | $ (1,117) | $ 2,610 | $ 21,313 | $ 15,142 | $ (12,155) | $ (15,962) | $ 23,923 | $ (28,118) | $ 22,806 | $ (12,976) | $ (10,009) | $ (95,461) | $ (27,303) |
Weighted average number of common shares outstanding - basic (in shares) | 536,966 | 529,838 | 535,542 | 526,098 | |||||||||
Dilutive restricted stock units, warrants and deferred shares (in shares) | 0 | 5,950 | 6,227 | 0 | |||||||||
Diluted weighted average common shares (in shares) | 536,966 | 535,788 | 541,769 | 526,098 | |||||||||
Basic (loss) income per common share after preferred dividends (in cents) (in dollars per share) | $ (0.002) | $ 0.005 | $ 0.04 | $ 0.029 | $ (0.023) | $ (0.030) | $ 0.043 | $ (0.054) | $ 0.043 | $ (0.025) | $ (0.019) | $ (0.195) | $ (0.063) |
Diluted (loss) income per common share after preferred dividends (in cents) (in dollars per share) | $ (0.002) | $ 0.005 | $ 0.04 | $ 0.028 | $ (0.023) | $ (0.030) | $ 0.043 | $ (0.054) | $ 0.042 | $ (0.025) | $ (0.019) | $ (0.195) | $ (0.063) |
Note 7 - Stockholders' Equity_2
Note 7 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Nov. 03, 2021 | Aug. 04, 2021 | May 05, 2021 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | May 31, 2021 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Sep. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Feb. 18, 2021 |
Share-based Payment Arrangement, Expense | $ 1.5 | $ 2.8 | $ 4.8 | $ 5.2 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Measurement Period Used to Value Performance-based Awards (Year) | 3 years | |||||||||||||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 2,800,000 | |||||||||||||||||||
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | 574,251 | 1,183,773 | ||||||||||||||||||
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation | $ 4.5 | $ 2.7 | ||||||||||||||||||
Shares Withheld for Tax Withholding Obligation, Price Per Share (in dollars per share) | $ 7.88 | $ 7.88 | $ 2.32 | $ 7.88 | $ 7.88 | $ 2.32 | ||||||||||||||
Silver-linked Dividend, Per Share, Increase (in dollars per share) | $ 0.01 | |||||||||||||||||||
Average Realized Silver Price Per Ounce (in dollars per share) | $ 25 | $ 20 | 23.97 | $ 27.14 | $ 25.66 | |||||||||||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.01125 | $ 0.0025 | $ 0.03125 | $ 0.00750 | ||||||||||||||||
Dividends, Total | $ 6 | $ 6 | ||||||||||||||||||
At-the-market Offering [Member] | ||||||||||||||||||||
Equity Distribution Agreement, Maximum Number of Shares to be Sold (in shares) | 60,000,000 | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 0 | |||||||||||||||||||
Quarterly Dividends [Member] | ||||||||||||||||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 1.125 | 0.01125 | ||||||||||||||||||
Quarterly Dividends, Common Stock, Cash, Silver Price-linked Component (in dollars per share) | 0.00375 | 0.375 | ||||||||||||||||||
Quarterly Dividends, Common Stock, Cash, Minimum Annual Dividend Component (in dollars per share) | $ 0.75 | $ 0.75 | ||||||||||||||||||
Quarterly Dividends [Member] | Subsequent Event [Member] | ||||||||||||||||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0.625 | |||||||||||||||||||
Quarterly Dividends, Common Stock, Cash, Silver Price-linked Component (in dollars per share) | 0.375 | |||||||||||||||||||
Quarterly Dividends, Common Stock, Cash, Minimum Annual Dividend Component (in dollars per share) | $ 0.25 | |||||||||||||||||||
Forecast [Member] | ||||||||||||||||||||
Dividends, Total | $ 3.4 | |||||||||||||||||||
Restricted Stock Units, One [Member] | Share-based Payment Arrangement, Employee [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 552,660 | |||||||||||||||||||
Restricted Stock Units, One [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 177,872 | |||||||||||||||||||
Restricted Stock Units, One [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 177,878 | |||||||||||||||||||
Restricted Stock Units, One [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 196,910 | |||||||||||||||||||
Restricted Stock Units, Two [Member] | Share-based Payment Arrangement, Employee [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 47,590 | |||||||||||||||||||
Restricted Stock Units, Two [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||||||||||||||||||
Restricted Stock Units, Two [Member] | Share-based Payment Arrangement, Employee [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 1.00% | |||||||||||||||||||
Restricted Stock Units, Three [Member] | Share-based Payment Arrangement, Employee [Member] | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 29,187 | |||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 5 | $ 5 | ||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Forecast [Member] | ||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ 1.7 | $ 0.2 | $ 0.9 | $ 2.2 | ||||||||||||||||
Performance Shares [Member] | ||||||||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Month) | 30 months | |||||||||||||||||||
Performance Shares [Member] | Forecast [Member] | Minimum [Member] | June 2019 [Member] | ||||||||||||||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 0 | |||||||||||||||||||
Performance Shares [Member] | Forecast [Member] | Maximum [Member] | June 2019 [Member] | ||||||||||||||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 1,200,000 |
Note 7 - Stockholders' Equity -
Note 7 - Stockholders' Equity - Common Stock Dividend Policy (Details) | 9 Months Ended |
Sep. 30, 2021$ / shares | |
Quarterly Average Realized Price, Level 1 [Member] | |
Quarterly dividend per share (in dollars per share) | $ 0.0025 |
Annual dividend per share (in dollars per share) | 0.01 |
Minimum annual component per share (in dollars per share) | 0.015 |
Annualized dividends (in dollars per share) | 0.025 |
Quarterly Average Realized Price, Level 2 [Member] | |
Quarterly dividend per share (in dollars per share) | 0.01 |
Annual dividend per share (in dollars per share) | 0.04 |
Minimum annual component per share (in dollars per share) | 0.015 |
Annualized dividends (in dollars per share) | 0.055 |
Quarterly Average Realized Price, Level 3 [Member] | |
Quarterly dividend per share (in dollars per share) | 0.015 |
Annual dividend per share (in dollars per share) | 0.06 |
Minimum annual component per share (in dollars per share) | 0.015 |
Annualized dividends (in dollars per share) | 0.075 |
Quarterly Average Realized Price, Level 4 [Member] | |
Quarterly dividend per share (in dollars per share) | 0.025 |
Annual dividend per share (in dollars per share) | 0.10 |
Minimum annual component per share (in dollars per share) | 0.015 |
Annualized dividends (in dollars per share) | 0.115 |
Quarterly Average Realized Price, Level 5 [Member] | |
Quarterly dividend per share (in dollars per share) | 0.035 |
Annual dividend per share (in dollars per share) | 0.14 |
Minimum annual component per share (in dollars per share) | 0.015 |
Annualized dividends (in dollars per share) | 0.155 |
Quarterly Average Realized Price, Level 6 [Member] | |
Quarterly dividend per share (in dollars per share) | 0.045 |
Annual dividend per share (in dollars per share) | 0.18 |
Minimum annual component per share (in dollars per share) | 0.015 |
Annualized dividends (in dollars per share) | 0.195 |
Quarterly Average Realized Price, Level 7 [Member] | |
Quarterly dividend per share (in dollars per share) | 0.055 |
Annual dividend per share (in dollars per share) | 0.22 |
Minimum annual component per share (in dollars per share) | 0.015 |
Annualized dividends (in dollars per share) | $ 0.235 |
Note 8 - Debt, Credit Facilit_3
Note 8 - Debt, Credit Facility and Leases (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Jul. 31, 2018 |
Revolving Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 250,000 | ||
Long-term Line of Credit, Total | $ 0 | $ 0 | |
Letter of Credit [Member] | |||
Letter of Credit Outstanding, Fronting Fee | 0.20% | ||
Letters of Credit Outstanding, Amount | $ 21,000 | ||
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 | 4.00% | ||
Senior Notes [Member] | The 2028 Senior Notes [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | 7.25% |
Note 8 - Debt, Credit Facilit_4
Note 8 - Debt, Credit Facility and Leases - Debt Summary (Details) - Senior Notes [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Principal | $ 512,862 | $ 512,886 |
Unamortized discount/premium and issuance costs | (5,150) | (5,644) |
Long-term debt balance | 507,712 | 507,242 |
The 2028 Senior Notes [Member] | ||
Principal | 475,000 | 475,000 |
Unamortized discount/premium and issuance costs | (5,779) | (6,462) |
Long-term debt balance | 469,221 | 468,538 |
IQ Notes [Member] | ||
Principal | 37,862 | 37,886 |
Unamortized discount/premium and issuance costs | 629 | 818 |
Long-term debt balance | $ 38,491 | $ 38,704 |
Note 8 - Debt, Credit Facilit_5
Note 8 - Debt, Credit Facility and Leases - Future Payments of Long-term Debt and Finance and Operating Leases (Details) $ in Thousands | Sep. 30, 2021USD ($) |
2022, finance leases | $ 6,336 |
2022, operating leases | 3,166 |
2023, finance leases | 4,590 |
2023, operating leases | 2,590 |
2024, finance leases | 3,313 |
2024, operating leases | 1,037 |
2025, finance leases | 855 |
2025, operating leases | 533 |
2026, finance leases | 0 |
2026, operating leases | 524 |
Thereafter, finance leases | 0 |
Thereafter, operating leases | 1,953 |
Total, finance leases | 15,094 |
Total, operating leases | 9,803 |
Senior Notes [Member] | The 2028 Senior Notes [Member] | |
2022 | 34,438 |
2023 | 34,438 |
2024 | 34,438 |
2025 | 34,438 |
2026 | 34,438 |
Thereafter | 522,349 |
Total | 694,539 |
Senior Notes [Member] | IQ Notes [Member] | |
2022 | 2,467 |
2023 | 2,467 |
2024 | 2,467 |
2025 | 2,467 |
2026 | 37,301 |
Thereafter | 0 |
Total | $ 47,169 |
Note 9 - Derivative Instrumen_3
Note 9 - Derivative Instruments (Details Textual) $ in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021CAD ($) | |
Maximum Allocation of Forecasted CAD-demonimated Operating Costs | 75.00% | 75.00% | 75.00% | ||
Forecasted CAD-denominated Operating Costs to be Hedged, Term (Year) | 5 years | ||||
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax | $ 4,800 | $ 4,800 | |||
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net | 3,500 | ||||
Gain (Loss) on Components Excluded from Assessment of Foreign Currency Cash Flow Hedge Effectiveness | 0 | ||||
Derivative, Gain (Loss) on Derivative, Net, Total | 13,937 | $ (4,483) | |||
Other Comprehensive Income (Loss) [Member] | |||||
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | $ 2,700 | $ 2,700 | |||
Foreign Exchange Contract [Member] | Casa Berardi [Member] | Designated as Hedging Instrument [Member] | |||||
Derivative, Number of Instruments Held, Total | 73 | 73 | 73 | ||
Derivative, Notional Amount | $ 187,700 | $ 187,700 | $ 245.6 | ||
Foreign Exchange Contract [Member] | Casa Berardi [Member] | Designated as Hedging Instrument [Member] | Minimum [Member] | |||||
Derivative, Forward Exchange Rate | 1.2702 | 1.2702 | 1.2702 | ||
Foreign Exchange Contract [Member] | Casa Berardi [Member] | Designated as Hedging Instrument [Member] | Maximum [Member] | |||||
Derivative, Forward Exchange Rate | 1.3753 | 1.3753 | 1.3753 | ||
Unsettled Concentrate Sales Contracts [Member] | |||||
Derivative, Gain (Loss) on Derivative, Net, Total | $ 5,000 | $ 9,600 | $ 4,500 | 12,900 | |
Forecasted Future Concentrate Contracts [Member] | |||||
Derivative, Gain (Loss) on Derivative, Net, Total | 12,100 | $ 6,700 | 4,700 | $ 12,800 | |
Commodity Contract [Member] | |||||
Derivative Liability, Fair Value, Amount Not Offset Against Collateral, Total | 9,300 | 9,300 | |||
Derivative, Fair Value, Obligations Under the Agreements | $ 9,300 | $ 9,300 |
Note 9 - Derivative Instrumen_4
Note 9 - Derivative Instruments - Foreign Currency (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Current derivatives assets | $ 5,220 | $ 3,470 |
Non-current derivatives assets | 6,748 | 4,558 |
Current derivatives liability | 4,179 | 11,737 |
Non-current derivative liability | 752 | 18 |
Foreign Exchange Contract [Member] | ||
Current derivatives assets | 2,500 | 3,500 |
Non-current derivatives assets | 2,200 | 4,200 |
Current derivatives liability | 0 | 0 |
Non-current derivative liability | $ 200 | $ 0 |
Note 9 - Derivative Instrumen_5
Note 9 - Derivative Instruments - Summary of Forward Sales Contracts (Details) oz in Thousands, lb in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021ozlb$ / oz$ / lb | Dec. 31, 2020ozlb$ / oz$ / lb | |
Silver 2021 Settlements for Provisional Sales [Member] | ||
Ounces/pounds under contract (Ounce) | oz | 1,190 | 1,282 |
Average price per ounce/pound (in USD per Ounce) | $ / oz | 23.15 | 25 |
Gold 2021 Settlements for Provisional Sales [Member] | ||
Ounces/pounds under contract (Ounce) | oz | 4 | 4 |
Average price per ounce/pound (in USD per Ounce) | $ / oz | 1,776 | 1,858 |
Zinc 2021 Settlements for Provisional Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 20,867 | 23,314 |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.35 | 1.19 |
Lead 2021 Settlements for Provisional Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 9,866 | 4,905 |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.01 | 0.90 |
Zinc 2021 Settlements for Forecasted Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 7,771 | 41,577 |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.26 | 1.17 |
Lead 2021 Settlements for Forecasted Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 6,779 | 30,876 |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 0.94 | 0.88 |
Zinc 2022 Settlements for Forecasted Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 60,043 | 18,519 |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.28 | 1.28 |
Lead 2022 Settlements for Forecasted Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 63,769 | |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 0.98 | |
Zinc 2023 Settlements for Provisional Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 76,280 | |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.29 | |
Lead 2023 Settlements for Provisional Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 70,327 | |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1 | |
Zinc 2024 Settlements for Forecasted Sales [Member] | ||
Ounces/pounds under contract (Ounce) | lb | 43,762 | |
Average price per ounce/pound (in USD per Ounce) | $ / lb | 1.31 |
Note 9 - Derivative Instrumen_6
Note 9 - Derivative Instruments - Fair Value of Forward and Put Option Contracts (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Contracts in asset position | $ 5,220 | $ 3,470 |
Contracts in liability position | (4,179) | (11,737) |
Contracts in asset position | 6,748 | 4,558 |
Contracts in liability position | (752) | (18) |
Forward and Put Option Contracts [Member] | Current Derivatives Assets [Member] | ||
Contracts in asset position | 3,100 | 200 |
Contracts in liability position | (400) | (200) |
Net asset (liability) | 2,700 | 0 |
Forward and Put Option Contracts [Member] | Noncurrent Derivative Assets [Member] | ||
Net asset (liability) | 4,600 | 400 |
Contracts in asset position | 7,100 | 500 |
Contracts in liability position | (2,500) | (100) |
Forward and Put Option Contracts [Member] | Current Derivative Liabilities [Member] | ||
Contracts in asset position | 300 | 100 |
Contracts in liability position | (4,400) | (11,800) |
Net asset (liability) | (4,100) | (11,700) |
Forward and Put Option Contracts [Member] | Other Noncurrent Liabilities [Member] | ||
Net asset (liability) | (600) | 0 |
Contracts in asset position | 1,200 | 0 |
Contracts in liability position | $ (1,800) | $ 0 |
Note 10 - Fair Value Measurem_3
Note 10 - Fair Value Measurement (Details Textual) - Senior Notes [Member] $ in Millions | Sep. 30, 2021USD ($) |
Notes Payable, Total | $ 469.2 |
Fair Value, Inputs, Level 1 [Member] | |
Notes Payable, Fair Value Disclosure | $ 513.2 |
Note 10 - Fair Value Measurem_4
Note 10 - Fair Value Measurement - Assets and Liabilities Accounted for at Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Receivables from provisional concentrate sales | $ 10,152 | $ 11,329 |
Fair Value, Recurring [Member] | ||
Total assets | 244,776 | 186,164 |
Total liabilities | 4,931 | 11,756 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | ||
Money market funds and other bank deposits | 190,904 | 129,830 |
Equity securities | 8,030 | 19,389 |
Certificates of deposit and other deposits | 1,053 | 1,053 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | ||
Receivables from provisional concentrate sales | 32,821 | 27,864 |
Foreign exchange contracts | 4,655 | 7,647 |
Metal forward and put option contracts | 7,313 | 381 |
Foreign exchange contracts | 200 | 19 |
Metal forward and put option contracts | $ 4,731 | $ 11,737 |
Note 11 - Commitments, Contin_2
Note 11 - Commitments, Contingencies and Obligations (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Jul. 31, 2018 | Dec. 31, 2014 | Aug. 31, 2012 | Jun. 30, 2011 | Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Environmental Remediation Expense | $ 7,564 | $ 1,254 | $ 12,297 | $ 2,807 | ||||||
Contractual Obligation, Total | 700 | 700 | ||||||||
Finance Lease, Liability, Payment, Due, Total | 15,094 | 15,094 | ||||||||
Lessee, Operating Lease, Liability, to be Paid, Total | 9,803 | 9,803 | ||||||||
Performance Obligation Commitments [Member] | ||||||||||
Surety Bonds | 182,600 | 182,600 | ||||||||
Letters of Credit Outstanding, Amount | 21,000 | 21,000 | ||||||||
Lucky Friday [Member] | ||||||||||
Open Purchase Orders | 8,500 | 8,500 | ||||||||
Casa Berardi [Member] | ||||||||||
Open Purchase Orders | 500 | 500 | ||||||||
Greens Creek [Member] | ||||||||||
Open Purchase Orders | 5,500 | 5,500 | ||||||||
Nevada Operations [Member] | ||||||||||
Open Purchase Orders | $ 4,700 | $ 4,700 | ||||||||
Johnny M Mine Area near San Mateo, New Mexico [Member] | ||||||||||
Payment Of Response Costs | $ 1,100 | $ 1,100 | ||||||||
Estimated Response Costs | $ 9,600 | $ 9,000 | $ 6,100 | |||||||
Environmental Remediation Expense | $ 9,000 | |||||||||
Carpenter Snow Creek Superfund Site, Cascade County, Montana [Member] | ||||||||||
Estimated Response Costs | $ 4,500 | |||||||||
Estimated Future Response Cost | $ 100,000 |