Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Feb. 21, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Coeur Mining, Inc. | ' |
Entity Central Index Key | '0000215466 | ' |
Document Type | '10-K | ' |
Document Period End Date | 31-Dec-13 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'FY | ' |
Trading Symbol | 'CDE | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 103,100,303 |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Public Float | ' | $1,347,701,848 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Other Comprehensive Income [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales of metal | $168,847 | $200,825 | $204,525 | $171,797 | $205,929 | $230,593 | $254,406 | $204,564 | $745,994 | $895,492 | $1,021,200 |
Production costs applicable to sales | -100,227 | -131,728 | -142,924 | -88,784 | -106,473 | -124,365 | -131,182 | -92,542 | -463,663 | -454,562 | -419,547 |
Amortization | -63,916 | -60,874 | -57,653 | -50,436 | -52,397 | -52,844 | -61,024 | -52,592 | -232,879 | -218,857 | -224,500 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 49,452 | 222,073 | 377,153 |
COSTS AND EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Administrative and general | ' | ' | ' | ' | ' | ' | ' | ' | 55,343 | 32,977 | 31,379 |
Exploration | 5,440 | 3,305 | 6,774 | 6,841 | 6,441 | 6,957 | 6,305 | 6,567 | 22,360 | 26,270 | 19,128 |
Litigation settlement | ' | ' | -32,000 | ' | ' | ' | ' | ' | 32,046 | 0 | 0 |
Write-downs | ' | ' | ' | ' | ' | ' | ' | ' | 772,993 | 5,825 | 0 |
Pre-development, care, maintenance and other | ' | ' | ' | ' | ' | ' | ' | ' | 11,869 | 1,261 | 19,441 |
Total cost and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 894,611 | 66,333 | 69,948 |
OPERATING INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -845,159 | 155,740 | 307,205 |
OTHER INCOME AND EXPENSE | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on debt extinguishments | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -1,036 | -5,526 |
Fair value adjustments, net | ' | ' | ' | ' | ' | ' | ' | ' | 82,768 | -23,487 | -52,050 |
Impairment of marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | -18,308 | -605 | 0 |
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | 13,323 | 15,041 | -6,610 |
Interest expense, net of capitalized interest | ' | ' | ' | ' | ' | ' | ' | ' | -41,303 | -26,169 | -34,774 |
Total other income and expense | ' | ' | ' | ' | ' | ' | ' | ' | 36,480 | -36,256 | -98,960 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -808,679 | 119,484 | 208,245 |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | 158,116 | -70,807 | -114,746 |
NET INCOME (LOSS) | -581,528 | -46,265 | -35,040 | 12,270 | 37,550 | -15,821 | 22,973 | 3,975 | -650,563 | 48,677 | 93,499 |
Other Comprehensive Income (Loss), Net of Tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized gain (loss) on available for sale securities | ' | ' | ' | ' | ' | ' | ' | ' | -8,489 | -3,351 | -4,975 |
Reclassification adjustments for other than temporary impairment of marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 11,221 | 605 | 0 |
Reclassification adjustments for realized loss on sale of marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 83 | 0 | 0 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 2,815 | -2,746 | -4,975 |
COMPREHENSIVE INCOME | ' | ' | ' | ' | ' | ' | ' | ' | ($647,748) | $45,931 | $88,524 |
BASIC AND DILUTED INCOME PER SHARE | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in dollars per share) | ($5.77) | ($0.46) | ($0.35) | $0.14 | $0.42 | ($0.18) | $0.26 | $0.04 | ($6.65) | $0.54 | $1.05 |
Diluted (in dollars per share) | ($5.77) | ($0.46) | ($0.35) | $0.14 | $0.42 | ($0.18) | $0.26 | $0.04 | ($6.65) | $0.54 | $1.04 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
NET INCOME (LOSS) | ($650,563) | $48,677 | $93,499 |
Add (deduct) non-cash items | ' | ' | ' |
Depreciation, depletion and amortization | 232,879 | 218,857 | 224,500 |
Accretion of discount on debt and other assets, net | 2,548 | 3,431 | 4,041 |
Accretion of royalty obligation | 14,947 | 18,294 | 21,550 |
Deferred income taxes | -177,178 | 16,163 | 51,792 |
Loss on debt extinguishments | 0 | 1,036 | 5,526 |
Fair value adjustments, net | -80,399 | 18,421 | 46,450 |
Gain (loss) on foreign currency transactions | -880 | -1,381 | 380 |
Proceeds From Settlement | 22,046 | 0 | 0 |
Share-based compensation | 4,812 | 8,010 | 8,122 |
(Gain) loss on Disposition of Assets | -9,801 | 1,101 | -1,145 |
Impairment of marketable securities | 18,308 | 605 | 0 |
Writedowns | 772,993 | 5,825 | 0 |
Other non-cash charges | 136 | -326 | -335 |
Changes in operating assets and liabilities: | ' | ' | ' |
Receivables and other current assets | 663 | 9,756 | -21,950 |
Prepaid expenses and other | -15,165 | 2,489 | -8,839 |
Inventories | 4,031 | -48,305 | -30,408 |
Accounts payable and accrued liabilities | -25,910 | -31,019 | 22,990 |
CASH PROVIDED BY OPERATING ACTIVITIES | 113,467 | 271,634 | 416,173 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Purchase of short term investments and marketable securities | -8,052 | -12,959 | -49,501 |
Proceeds from sales and maturities of short term investments | 34,796 | 21,695 | 6,246 |
Acquisitions | -116,898 | -29,297 | 0 |
Capital expenditures | -100,813 | -115,641 | -119,988 |
Other | 4,478 | 3,087 | 2,282 |
CASH USED IN INVESTING ACTIVITIES | -186,489 | -133,115 | -160,961 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Proceeds from issuance of notes and bank borrowings | 300,000 | 0 | 27,500 |
Payments on long-term debt, capital leases, and associated costs | -60,628 | -97,170 | -85,519 |
Payments on gold production royalty | -57,034 | -74,734 | -73,191 |
Payments on gold lease facility | 0 | 0 | -13,800 |
Additions to restricted assets associated with the Kensington Term Facility | 0 | 4,645 | -1,326 |
Payments for Repurchase of Common Stock | -27,552 | -19,971 | 0 |
Other | -514 | -861 | 18 |
CASH USED IN FINANCING ACTIVITIES: | 154,272 | -188,091 | -146,318 |
INCREASE IN CASH AND CASH EQUIVALENTS | 81,250 | -49,572 | 108,894 |
Cash and cash equivalents at beginning of period | 125,440 | 175,012 | 66,118 |
Cash and cash equivalents at end of period | $206,690 | $125,440 | $175,012 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS | ' | ' |
Cash and cash equivalents | $206,690 | $125,440 |
Investments | 0 | 999 |
Receivables | 81,074 | 62,438 |
Ore on leach pads | 50,495 | 22,991 |
Metal and other inventory | 132,023 | 170,670 |
Deferred tax assets | 35,008 | 2,458 |
Prepaid expenses and other | 25,940 | 21,186 |
Current assets | 531,230 | 406,182 |
NON-CURRENT ASSETS | ' | ' |
Property, plant and equipment, net | 486,273 | 683,860 |
Mining properties, net | 1,751,501 | 1,991,951 |
Ore on leach pads | 31,528 | 21,356 |
Restricted assets | 7,014 | 24,970 |
Marketable securities | 14,521 | 27,065 |
Receivables | 36,574 | 48,767 |
Debt issuance costs, net | 10,812 | 3,713 |
Deferred tax assets | 1,189 | 955 |
Other | 15,336 | 12,582 |
TOTAL ASSETS | 2,885,978 | 3,221,401 |
CURRENT LIABILITIES | ' | ' |
Accounts payable | 53,847 | 57,482 |
Accrued liabilities and other | 6,843 | 10,002 |
Accrued income taxes | 3,119 | 27,108 |
Accrued payroll and related benefits | 18,329 | 21,306 |
Accrued interest payable | 9,975 | 478 |
Debt and capital leases | 2,505 | 55,983 |
Royalty obligations | 48,019 | 65,104 |
Reclamation and mine closure | 913 | 668 |
Deferred tax liabilities | 1,011 | 121 |
Current liabilities | 144,561 | 238,252 |
NON-CURRENT LIABILITIES | ' | ' |
Debt and capital leases | 306,130 | 3,460 |
Royalty obligations | 65,142 | 141,879 |
Reclamation and mine closure | 57,515 | 34,670 |
Deferred tax liabilities | 556,246 | 577,488 |
Other long-term liabilities | 25,817 | 27,372 |
Non-current liabilities | 1,010,850 | 784,869 |
COMMITMENTS AND CONTINGENCIES | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' |
Common stock, par value $0.01 per share; authorized 150,000,000 shares, issued and outstanding 102,843,003 at December 31, 2013 and 90,342,338 at December 31, 2012 | 1,028 | 903 |
Additional paid-in capital | 2,781,164 | 2,601,254 |
Accumulated other comprehensive loss | -4,906 | -7,721 |
Accumulated deficit | -1,046,719 | -396,156 |
Shareholders' Equity | 1,730,567 | 2,198,280 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $2,885,978 | $3,221,401 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
SHAREHOLDERS' EQUITY | ' | ' |
Common stock, par value | $0.01 | $0.01 |
Common stock, share authorized | 150,000,000 | 150,000,000 |
Common stock, share issued | 102,843,003 | 90,342,338 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Common Stock | Additional Paid-In Capital | Accumulated Deficit | Accumulated Other Comprehensive Loss | Orko Silver Corporation [Member] | Orko Silver Corporation [Member] | Orko Silver Corporation [Member] | Coeur Capital [Member] | Coeur Capital [Member] | Coeur Capital [Member] |
In Thousands, unless otherwise specified | Common Stock | Additional Paid-In Capital | Common Stock | Additional Paid-In Capital | |||||||
Balances at Dec. 31, 2010 | $2,040,767 | $893 | $2,578,206 | ($538,332) | $0 | ' | ' | ' | ' | ' | ' |
Balances, in shares at Dec. 31, 2010 | ' | 89,316 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 93,499 | ' | ' | 93,499 | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive loss | -4,975 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued/cancelled under long-term incentive plans and director fees and options, net, in shares | ' | 339 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued/cancelled under long-term incentive plans and director fees and options, net | 7,430 | 4 | 7,426 | ' | ' | ' | ' | ' | ' | ' | ' |
Other | -4,975 | ' | ' | ' | -4,975 | ' | ' | ' | ' | ' | ' |
Balances at Dec. 31, 2011 | 2,136,721 | 897 | 2,585,632 | -444,833 | -4,975 | ' | ' | ' | ' | ' | ' |
Balances, in shares at Dec. 31, 2011 | ' | 89,655 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 48,677 | ' | ' | 48,677 | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive loss | -2,746 | ' | ' | ' | -2,746 | ' | ' | ' | ' | ' | ' |
Common stock share buy back, in shares | ' | -893 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock share buy back | -19,971 | -9 | -19,962 | ' | ' | ' | ' | ' | ' | ' | ' |
Common issued for acquisition, in shares | ' | 1,310 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common issued for acquisition | 30,000 | 13 | 29,987 | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued/cancelled under long-term incentive plans and director fees and options, net, in shares | ' | 270 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued/cancelled under long-term incentive plans and director fees and options, net | 5,599 | 2 | 5,597 | ' | ' | ' | ' | ' | ' | ' | ' |
Balances at Dec. 31, 2012 | 2,198,280 | 903 | 2,601,254 | -396,156 | -7,721 | ' | ' | ' | ' | ' | ' |
Balances, in shares at Dec. 31, 2012 | ' | 90,342 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | -650,563 | ' | ' | -650,563 | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive loss | 2,815 | ' | ' | ' | 2,815 | ' | ' | ' | ' | ' | ' |
Common stock share buy back, in shares | ' | -1,691 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock share buy back | -27,552 | -17 | -27,535 | ' | ' | ' | ' | ' | ' | ' | ' |
Common issued for acquisition, in shares | ' | ' | ' | ' | ' | ' | 11,573 | ' | ' | 2,130 | ' |
Common issued for acquisition | ' | ' | ' | ' | ' | 179,140 | 116 | 179,024 | 22,198 | 21 | 22,177 |
Common stock issued/cancelled under long-term incentive plans and director fees and options, net, in shares | ' | 489 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued/cancelled under long-term incentive plans and director fees and options, net | 6,249 | 5 | 6,244 | ' | ' | ' | ' | ' | ' | ' | ' |
Balances at Dec. 31, 2013 | $1,730,567 | $1,028 | $2,781,164 | ($1,046,719) | ($4,906) | ' | ' | ' | ' | ' | ' |
Balances, in shares at Dec. 31, 2013 | ' | 102,843 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive_Income_Parenthet
Comprehensive Income Parenthetical (Parentheticals) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | ($5,362) | $0 | $0 |
Other Comprehensive Income (Loss), Reclassification Adjustment for Write-down of Securities Included in Net Income, Net of Tax | 7,087 | 0 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Tax | $53 | $0 | $0 |
Nature_of_Operations
Nature of Operations | 12 Months Ended |
Dec. 31, 2013 | |
Basis of Persentation [Abstract] | ' |
NATURE OF OPERATIONS | ' |
NATURE OF OPERATIONS | |
Coeur Mining, Inc. (“Coeur” or “the Company”) is a large primary silver producer with significant gold production and mines located in the United States, Mexico, and Bolivia; development projects in Mexico and Argentina; and streaming and royalty interests in Australia, Mexico, Ecuador, and Chile. The Palmarejo mine, San Bartolomé mine, Kensington mine, and Rochester mine, each of which is operated by the Company, and Coeur Capital, primarily comprised of the Endeavor silver stream and other precious metal royalties, constitute the Company’s principal sources of revenues. |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
Use of Estimates | |
The Company's Consolidated Financial Statements have been prepared in accordance with United States Generally Accepted Accounting Principles. The preparation of the Company's Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and reported amounts of revenues and expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions relate to mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of-production amortization calculations, environmental, reclamation and closure obligations, estimates of recoverable silver and gold in leach pad inventories, estimates of fair value for certain reporting units and asset impairments, valuation allowances for deferred tax assets, and the fair value and accounting treatment of financial instruments, marketable securities, and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from the amounts estimated in these financial statements. | |
Principles of Consolidation | |
The consolidated financial statements include the wholly-owned subsidiaries of the Company, the most significant of which are Empresa Minera Manquiri S.A., Coeur Mexicana S.A. de C.V., Coeur Rochester, Inc., Coeur Alaska, Inc., and Coeur Capital. All significant intercompany balances and transactions have been eliminated. The Company's investments in entities in which it has less than 20% ownership interest are accounted for using the cost method. | |
Revenue Recognition | |
Revenue is recognized, net of treatment and refining charges, when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable, no obligations remain and collection is probable. | |
Under the Company’s concentrate sales contracts with third-party smelters, gold and silver prices are set on a specified future quotational period, typically one to three months, after the shipment date based on market prices. Revenues and production costs applicable to sales are recorded on a gross basis under these contracts at the time title passes to the buyer based on the forward price for the expected settlement period. The contracts, in general, provide for provisional payment based upon provisional assays and forward metal prices. Final settlement is based on the average applicable price for the specified future quotational period and generally occurs from three to six months after shipment. The Company’s provisionally priced sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of concentrates measured at the forward price at the time of sale. The embedded derivative does not qualify for hedge accounting and is adjusted to fair value through revenue each period until the date of final gold and silver settlement. | |
Cash and Cash Equivalents | |
Cash and cash equivalents include all highly-liquid investments with an original maturity of three months or less. The Company minimizes its credit risk by investing its cash and cash equivalents with major U.S. and international banks and financial institutions located principally in the United States with a minimum credit rating of A1, as defined by Standard & Poor’s. The Company’s management believes that no concentration of credit risk exists with respect to the investment of its cash and cash equivalents. | |
Receivables | |
Trade receivables and other receivable balances are reported at outstanding principal amounts, net of an allowance for doubtful accounts, if deemed necessary. Management evaluates the collectability of receivable account balances to determine the allowance, if any. Management considers the other party's credit risk and financial condition, as well as current and projected economic and market conditions, in determining the amount of the allowance. Receivable balances are written off when management determines that the balance is uncollectible. | |
Ore on Leach Pads | |
The heap leach process extracts silver and gold by placing ore on an impermeable pad and applying a diluted cyanide solution that dissolves a portion of the contained silver and gold, which are then recovered in metallurgical processes. | |
The Company uses several integrated steps to scientifically measure the metal content of ore placed on the leach pads. As the ore body is drilled in preparation for the blasting process, samples are taken of the drill residue which are assayed to determine estimated quantities of contained metal. The Company estimates the quantity of ore by utilizing global positioning satellite survey techniques. The Company then processes the ore through crushing facilities where the output is again weighed and sampled for assaying. A metallurgical reconciliation with the data collected from the mining operation is completed with appropriate adjustments made to previous estimates. The crushed ore is then transported to the leach pad for application of the leaching solution. As the leach solution is collected from the leach pads, it is continuously sampled for assaying. The quantity of leach solution is measured by flow meters throughout the leaching and precipitation process. After precipitation, the product is converted to doré, which is the final product produced by the mine. The inventory is stated at lower of cost or market, with cost being determined using a weighted average cost method. | |
The Company reported ore on the leach pads of $82.0 million as of December 31, 2013, and $44.3 million as of December 31, 2012. As of December 31, 2013, $50.5 million is reported as a current asset and $31.5 million is reported as a non-current asset. As of December 31, 2012, $23.0 million is reported as a current asset and $21.4 million is reported as a non-current asset. The historical cost of the metal that is expected to be extracted within twelve months is classified as current and the historical cost of metals contained within the broken ore that is expected to be extracted beyond twelve months is classified as non-current. Ore on leach pad is valued based on actual production costs incurred to produce and place ore on the leach pad, less costs allocated to minerals recovered through the leach process. | |
The estimate of both the ultimate recovery expected over time and the quantity of metal that may be extracted relative to the time the leach process occurs requires the use of estimates, which are inherently inaccurate due to the nature of the leaching process. The quantities of metal contained in the ore are based upon actual weights and assay analysis. The rate at which the leach process extracts gold and silver from the crushed ore is based upon laboratory column tests and actual experience occurring over more than twenty years of leach pad operations at the Rochester mine. The assumptions used by the Company to measure metal content during each stage of the inventory conversion process includes estimated recovery rates based on laboratory testing and assaying. The Company periodically reviews its estimates compared to actual experience and revises its estimates when appropriate. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis. | |
Metal and Other Inventory | |
Inventories include concentrate, doré, and operating materials and supplies. The classification of inventory is determined by the stage at which the ore is in the production process. All inventories are stated at the lower of cost or market, with cost being determined using a weighted average cost method. Concentrate and doré inventory includes product at the mine site and product held by refineries. Concentrate inventories associated with the Endeavor mine are held by third parties. Metal inventory costs include direct labor, materials, depreciation, depletion and amortization as well as overhead costs relating to mining activities. | |
Property, Plant, and Equipment | |
Expenditures for new facilities, assets acquired pursuant to capital leases, new assets or expenditures that extend the useful lives of existing facilities are capitalized and depreciated using the straight-line method at rates sufficient to depreciate such costs over the shorter of estimated productive lives of such facilities, lease term, or the useful life of the individual assets. Productive lives range from 7 to 31 years for buildings and improvements and 3 to 13 years for machinery and equipment. Certain mining equipment is depreciated using the units-of-production method based upon estimated total proven and probable reserves. | |
Mining Properties and Mine Development | |
Capitalization of mine development costs begins once all operating permits have been secured, mineralization is classified as proven and probable reserves and a final feasibility study has been completed. Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Pre-development expense. Mine development costs are amortized using the units of production method over the estimated life of the ore body based on recoverable ounces to be mined from proven and probable reserves. Interest expense allocable to the cost of developing mining properties and to construct new facilities is capitalized until assets are ready for their intended use. | |
Drilling and related costs incurred at the Company’s operating mines are expensed as incurred as exploration expense, unless the Company can conclude with a high degree of confidence, prior to the commencement of a drilling program, that the drilling costs will result in the conversion of a mineral resource into proven and probable reserves. The Company’s assessment is based on the following factors: results from previous drill programs; results from geological models; results from a mine scoping study confirming economic viability of the resource; and preliminary estimates of mine inventory, ore grade, cash flow and mine life. In addition, the Company must have all permitting and/or contractual requirements necessary to have the right to and/or control of the future benefit from the targeted ore body. The costs of a drilling program that meet these criteria are capitalized as mine development costs. Drilling and related costs of approximately $11.6 million and $13.9 million at December 31, 2013 and 2012, respectively, were capitalized. | |
The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in production costs applicable to sales in the same period as the revenue from the sale of inventory. | |
Mineral Interests | |
Significant payments related to the acquisition of land and mineral rights are capitalized. Prior to acquiring such land or mineral rights, the Company generally makes a preliminary evaluation to determine that the property has significant potential to develop an economic ore body. The time between initial acquisition and full evaluation of a property’s potential is variable and is determined by many factors including: location relative to existing infrastructure, the property’s stage of development, geological controls and metal prices. If a mineable ore body is discovered, such costs are amortized when production begins using the units-of-production method based on recoverable ounces to be mined from proven and probable reserves. If no mineable ore body is discovered, such costs are expensed in the period in which it is determined the property has no future economic value. | |
Asset Impairment | |
Management reviews and evaluates its long-lived assets for impairment when events and changes in circumstances indicate that the related carrying amounts of its assets may not be recoverable. Impairment is considered to exist if the total probability-weighted estimate or other appropriate estimate of future cash flows on an undiscounted basis are less than the carrying amount of the asset group, including property plant and equipment, mineral property, development property, and any deferred costs. An impairment loss is measured and recorded based on the difference between book value and estimated fair value of the asset group. Future cash flows include estimates of recoverable ounces, gold and silver prices (considering current and historical prices, price trends and related factors), production levels and required capital investment, all based on life-of-mine plans and projections. Assumptions underlying future cash flow estimates are subject to risks and uncertainties. Any differences between these assumptions and actual market conditions or the Company’s actual operating performance could have a material effect on the Company’s determination of its ability to recover the carrying amounts of its long-lived assets resulting in impairment charges. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of cash flows from other asset groups. Generally, in estimating future cash flows, all assets are grouped at a particular mine for which there is identifiable cash flow. | |
Restricted Assets | |
The Company, under the terms of its self-insurance and bonding agreements with certain banks, lending institutions and regulatory agencies, is required to collateralize certain portions of its obligations. The Company has collateralized these obligations by assigning certificates of deposit that have maturity dates ranging from three months to a year, to the respective institutions or agencies. At December 31, 2013 and 2012, the Company held certificates of deposit and cash under these agreements of $7.0 million and $25.0 million, respectively, restricted for these purposes. The ultimate timing of the release of the collateralized amounts is dependent on the timing and closure of each mine and repayment of the facility. In order to release the collateral, the Company must seek approval from certain government agencies responsible for monitoring the mine closure status. Collateral could also be released to the extent the Company is able to secure alternative financial assurance satisfactory to the regulatory agencies. The Company believes there is a reasonable probability that the collateral will remain in place beyond a twelve-month period and has therefore classified these investments as long-term. | |
Reclamation and Remediation Costs | |
The Company recognizes obligations for the expected future retirement of tangible long-lived assets and other associated asset retirement costs. The fair value of a liability for an asset retirement obligation will be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. The fair value of the liability is added to the carrying amount of the associated asset and this additional carrying amount is depreciated over the life of the asset. An accretion cost, representing the increase over time in the present value of the liability, is recorded each period in Amortization expense. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability is reduced. | |
Future remediation costs for inactive mines are accrued based on management’s best estimate at the end of each period of the undiscounted costs expected to be incurred at the site. Such cost estimates include, where applicable, ongoing care and maintenance and monitoring costs. Changes in estimates are reflected prospectively in the period an estimate is revised. | |
Foreign Currency | |
The assets and liabilities of the Company’s foreign subsidiaries are measured using U.S. dollars as their functional currency. Revenues and expenses are translated at the average exchange rate for the period. Foreign currency transaction gains and losses are included in the determination of net income or loss. | |
Derivative Financial Instruments | |
The Company recognizes all derivatives as either assets or liabilities on the balance sheet and measures those instruments at fair value. Changes in the value of derivative instruments are recorded each period in the Consolidated Statement of Comprehensive Income (Loss) in Fair value adjustments, net. Management applies judgment in estimating the fair value of instruments that are highly sensitive to assumptions regarding commodity prices, market volatilities, and foreign currency exchange rates. | |
Stock-based Compensation Plans | |
The Company estimates the fair value of stock options and stock appreciation rights (“SARs”) awards using the Black-Scholes option pricing model. Stock options granted are accounted for as equity-based awards and SARs are accounted for as liability-based awards. The value of the SARs is remeasured at each reporting date. The Company estimates the fair value of performance share and performance unit grants using a Monte Carlo simulation valuation model. Performance shares granted are accounted for as equity based awards and performance shares units are accounted for as liability-based awards. The Company estimates forfeitures of stock-based awards based on historical data and periodically adjusts the forfeiture rate. The adjustment of the forfeiture rate is recorded as a cumulative adjustment in the period the forfeiture estimate is changed. Compensation costs related to stock based compensation are included in General and administrative expenses, Production costs applicable to sales and the cost of self-constructed property, plant and equipment as deemed appropriate. | |
Restricted stock and restricted stock units granted under the Company’s incentive plans are accounted for based on the market value of the underlying shares on the date of grant and vest in equal installments annually over three years. Restricted stock awards are accounted for as equity-based awards and restricted stock unit awards are accounted for as liability-based awards. Restricted stock units are remeasured at each reporting date. Restricted stock units are settled in cash based on the number of vested restricted stock units multiplied by the current market price of the common shares when vested. Holders of the restricted stock are entitled to vote the shares and to receive any dividends declared on the shares. | |
Income Taxes | |
The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carryforwards, using enacted tax rates in effect in the years in which the differences are expected to reverse. | |
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. A valuation allowance has been provided for the portion of the Company’s net deferred tax assets for which it is more likely than not that they will not be realized. | |
Revisions | |
Certain immaterial amounts in prior years have been corrected to conform to current presentation. The Company reclassified certain income-based state taxes from Production costs applicable to sales to Income tax provision (benefit). | |
Recent Accounting Standards | |
On January 1, 2013, the Company adopted ASU 2011-11, "Balance Sheet (Topic 201): Disclosures about Offsetting Assets and Liabilities." This ASU adds certain additional disclosure requirements about financial instruments and derivative instruments that are subject to netting arrangements. The adoption of ASU 2011-11 had no effect on the Company's financial position, results of operations or cash flows. | |
On January 1, 2013, the Company adopted ASU 2013-02, "Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." The new standard requires either in a single note or parenthetically on the face of the financial statements: (i) the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and (ii) the income statement line items affected by the reclassification. The adoption of ASU 2013-02 had no effect on the Company's financial position, results of operations or cash flows. | |
In July 2013, the FASB issued ASU 2013-11, "Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists." The updated guidance requires an entity to net its unrecognized tax benefits against the deferred tax assets for all same jurisdiction net operating loss carryforwards, a similar tax loss, or tax credit carryforwards. A gross presentation will be required only if such carryforwards are not available or would not be used by the entity to settle any additional income taxes resulting from disallowance of the uncertain tax provision. The update is effective prospectively for the Company's fiscal year beginning January 1, 2014. |
Segment_Reporting
Segment Reporting | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||||||||||
SEGMENT REPORTING | ' | |||||||||||||||||||||||||||||||||||
SEGMENT REPORTING | ||||||||||||||||||||||||||||||||||||
The Company’s reportable operating segments include the Palmarejo, San Bartolomé, Rochester, Kensington, and Martha mines, as well as La Preciosa and Coeur Capital. All operating segments are engaged in the discovery and mining of gold and silver and generate the majority of their revenues from the sale of these precious metals with the exception of Coeur Capital, which holds the Endeavor silver stream and other precious metals royalties. Other includes the Joaquin project, corporate headquarters, elimination of intersegment transactions and other items necessary to reconcile to consolidated amounts. | ||||||||||||||||||||||||||||||||||||
Revenues from silver sales were $394.5 million, $549.7 million and $662.6 million in 2013, 2012, and 2011, respectively. Revenues from gold sales were $351.5 million, $345.8 million and $358.6 million in 2013, 2012, and 2011, respectively. | ||||||||||||||||||||||||||||||||||||
Financial information relating to the Company’s segments is as follows (in thousands): | ||||||||||||||||||||||||||||||||||||
Year ended December 31, 2013 | Palmarejo | San Bartolomé | Kensington | Rochester | Martha | La Preciosa | Coeur Capital | Other | Total | |||||||||||||||||||||||||||
Mine | Mine | Mine | Mine | Mine | ||||||||||||||||||||||||||||||||
Sales of metals | $ | 324,040 | $ | 141,721 | $ | 148,769 | $ | 119,254 | $ | (661 | ) | $ | — | $ | 12,871 | $ | — | $ | 745,994 | |||||||||||||||||
Production costs applicable to sales | (188,572 | ) | (86,827 | ) | (104,575 | ) | (77,869 | ) | — | — | (5,818 | ) | (2 | ) | (463,663 | ) | ||||||||||||||||||||
Amortization | (134,240 | ) | (19,565 | ) | (63,216 | ) | (10,571 | ) | (438 | ) | (24 | ) | (3,755 | ) | (1,070 | ) | (232,879 | ) | ||||||||||||||||||
Gross profit (loss) | 1,228 | 35,329 | (19,022 | ) | 30,814 | (1,099 | ) | (24 | ) | 3,298 | (1,072 | ) | 49,452 | |||||||||||||||||||||||
Exploration expense | 7,161 | 111 | 4,199 | 2,653 | 4,485 | 80 | 2,069 | 1,602 | 22,360 | |||||||||||||||||||||||||||
Write-downs | 642,094 | — | 130,694 | — | — | — | — | 205 | 772,993 | |||||||||||||||||||||||||||
Other operating expenses | — | 5,743 | 269 | 34,584 | 2,650 | 3,237 | 1,397 | 51,378 | 99,258 | |||||||||||||||||||||||||||
OPERATING INCOME (LOSS) | (648,027 | ) | 29,475 | (154,184 | ) | (6,423 | ) | (8,234 | ) | (3,341 | ) | (168 | ) | (54,257 | ) | (845,159 | ) | |||||||||||||||||||
Interest and other income, net | 906 | 2,582 | (187 | ) | (318 | ) | 865 | 15 | (19,474 | ) | 10,626 | (4,985 | ) | |||||||||||||||||||||||
Interest expense, net | (15,123 | ) | (74 | ) | (424 | ) | (20 | ) | (1 | ) | — | — | (25,661 | ) | (41,303 | ) | ||||||||||||||||||||
Fair value adjustments, net | 76,218 | — | 7,480 | 416 | — | — | — | (1,346 | ) | 82,768 | ||||||||||||||||||||||||||
Income tax (provision) benefit | 107,748 | (10,938 | ) | (1 | ) | (2,332 | ) | (137 | ) | (20,856 | ) | 2,179 | 82,453 | 158,116 | ||||||||||||||||||||||
Net income (loss) | $ | (478,278 | ) | $ | 21,045 | $ | (147,316 | ) | $ | (8,677 | ) | $ | (7,507 | ) | $ | (24,182 | ) | $ | (17,463 | ) | $ | 11,815 | $ | (650,563 | ) | |||||||||||
Segment assets(1) | $ | 1,164,852 | $ | 289,272 | $ | 343,144 | $ | 176,789 | $ | 6,168 | $ | 410,335 | $ | 62,678 | $ | 105,581 | $ | 2,558,819 | ||||||||||||||||||
Capital expenditures | $ | 33,730 | $ | 11,568 | $ | 21,404 | $ | 29,406 | $ | 10 | $ | 1,122 | $ | — | $ | 3,573 | $ | 100,813 | ||||||||||||||||||
(1) Segment assets consist of receivables, prepaids, inventories, property, plant and equipment, and mining properties | ||||||||||||||||||||||||||||||||||||
Year ended December 31, 2012 | Palmarejo | San Bartolomé | Kensington | Rochester | Martha | Coeur Capital | Other | Total | ||||||||||||||||||||||||||||
Mine | Mine | Mine | Mine | Mine | ||||||||||||||||||||||||||||||||
Sales of metals | $ | 442,098 | $ | 178,005 | $ | 110,987 | $ | 132,392 | $ | 13,162 | $ | 18,848 | $ | — | $ | 895,492 | ||||||||||||||||||||
Production costs applicable to sales | (197,478 | ) | (71,428 | ) | (87,089 | ) | (72,061 | ) | (17,682 | ) | (8,824 | ) | — | (454,562 | ) | |||||||||||||||||||||
Amortization | (146,595 | ) | (16,709 | ) | (41,645 | ) | (8,065 | ) | (692 | ) | (4,632 | ) | (519 | ) | (218,857 | ) | ||||||||||||||||||||
Gross profit (loss) | 98,025 | 89,868 | (17,747 | ) | 52,266 | (5,212 | ) | 5,392 | (519 | ) | 222,073 | |||||||||||||||||||||||||
Exploration expense | 7,575 | 159 | 3,283 | 3,591 | 8,648 | 1,056 | 1,958 | 26,270 | ||||||||||||||||||||||||||||
Write-downs | — | — | — | — | 5,825 | — | — | 5,825 | ||||||||||||||||||||||||||||
Other operating expenses | 11 | 80 | 74 | 1,401 | 2,108 | (736 | ) | 31,300 | 34,238 | |||||||||||||||||||||||||||
OPERATING INCOME (LOSS) | 90,439 | 89,629 | (21,104 | ) | 47,274 | (21,793 | ) | 5,072 | (33,777 | ) | 155,740 | |||||||||||||||||||||||||
Interest and other income, net | 4,017 | 9,719 | (77 | ) | 358 | (1,153 | ) | (77 | ) | 1,649 | 14,436 | |||||||||||||||||||||||||
Interest expense, net | (18,938 | ) | (72 | ) | (2,972 | ) | (26 | ) | (3 | ) | — | (4,158 | ) | (26,169 | ) | |||||||||||||||||||||
Loss on debt extinguishment | — | — | (1,036 | ) | — | — | — | — | (1,036 | ) | ||||||||||||||||||||||||||
Fair value adjustments, net | (31,054 | ) | — | 4,089 | — | — | — | 3,478 | (23,487 | ) | ||||||||||||||||||||||||||
Income tax (provision) benefit | (18,066 | ) | (44,632 | ) | — | (2,195 | ) | 976 | (327 | ) | (6,563 | ) | (70,807 | ) | ||||||||||||||||||||||
Net income (loss) | $ | 26,398 | $ | 54,644 | $ | (21,100 | ) | $ | 45,411 | $ | (21,973 | ) | $ | 4,668 | $ | (39,371 | ) | $ | 48,677 | |||||||||||||||||
Segment assets(1) | $ | 1,905,269 | $ | 302,922 | $ | 508,658 | $ | 104,373 | $ | 9,813 | $ | 32,656 | $ | 110,365 | $ | 2,974,056 | ||||||||||||||||||||
Capital expenditures | $ | 38,456 | $ | 25,672 | $ | 36,994 | $ | 11,794 | $ | 1,193 | $ | — | $ | 1,532 | $ | 115,641 | ||||||||||||||||||||
(1) Segment assets consist of receivables, prepaids, inventories, property, plant and equipment, and mining properties | ||||||||||||||||||||||||||||||||||||
Year ended December 31, 2011 | Palmarejo | San Bartolomé | Kensington | Rochester | Martha | Coeur Capital | Other | Total | ||||||||||||||||||||||||||||
Mine | Mine | Mine | Mine | Mine | ||||||||||||||||||||||||||||||||
Sales of metals | $ | 513,097 | $ | 267,502 | $ | 151,186 | $ | 57,331 | $ | 13,347 | $ | 18,737 | $ | — | $ | 1,021,200 | ||||||||||||||||||||
Production costs applicable to sales | (186,201 | ) | (79,679 | ) | (101,672 | ) | (27,848 | ) | (15,513 | ) | (8,634 | ) | — | (419,547 | ) | |||||||||||||||||||||
Amortization | (159,264 | ) | (22,410 | ) | (35,839 | ) | (2,824 | ) | (556 | ) | (3,155 | ) | (452 | ) | (224,500 | ) | ||||||||||||||||||||
Gross profit (loss) | 167,632 | 165,413 | 13,675 | 26,659 | (2,722 | ) | 6,948 | (452 | ) | 377,153 | ||||||||||||||||||||||||||
Exploration expense | 6,863 | 248 | 1,102 | 1,989 | 6,367 | 662 | 1,897 | 19,128 | ||||||||||||||||||||||||||||
Other operating expenses | 949 | 342 | 317 | 19,931 | 156 | (1 | ) | 29,126 | 50,820 | |||||||||||||||||||||||||||
OPERATING INCOME (LOSS) | 159,820 | 164,823 | 12,256 | 4,739 | (9,245 | ) | 6,287 | (31,475 | ) | 307,205 | ||||||||||||||||||||||||||
Interest and other income, net | (9,099 | ) | 156 | 4 | 57 | (544 | ) | 1,108 | 1,708 | (6,610 | ) | |||||||||||||||||||||||||
Interest expense, net | (23,453 | ) | (45 | ) | (4,889 | ) | (21 | ) | (458 | ) | — | (5,908 | ) | (34,774 | ) | |||||||||||||||||||||
Loss on debt extinguishment | — | — | — | — | — | — | (5,526 | ) | (5,526 | ) | ||||||||||||||||||||||||||
Fair value adjustments, net | (40,046 | ) | — | (8,438 | ) | — | — | — | (3,566 | ) | (52,050 | ) | ||||||||||||||||||||||||
Income tax (provision) benefit | (28,023 | ) | (59,867 | ) | (31 | ) | (409 | ) | (1,219 | ) | — | (25,197 | ) | (114,746 | ) | |||||||||||||||||||||
Net income (loss) | $ | 59,199 | $ | 105,067 | $ | (1,098 | ) | $ | 4,366 | $ | (11,466 | ) | $ | 7,395 | $ | (69,964 | ) | $ | 93,499 | |||||||||||||||||
Segment assets(1) | $ | 2,029,769 | $ | 276,423 | $ | 507,891 | $ | 76,852 | $ | 19,717 | $ | 36,349 | $ | 16,129 | $ | 2,963,130 | ||||||||||||||||||||
Capital expenditures | $ | 36,976 | $ | 17,731 | $ | 34,013 | $ | 27,217 | $ | 3,426 | $ | 59 | $ | 566 | $ | 119,988 | ||||||||||||||||||||
(1) Segment assets consist of receivables, prepaids, inventories, property, plant and equipment, and mining properties | ||||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||
Total assets for reportable segments | $ | 2,558,819 | $ | 2,974,056 | $ | 2,963,130 | ||||||||||||||||||||||||||||||
Cash and cash equivalents | 206,690 | 125,440 | 175,012 | |||||||||||||||||||||||||||||||||
Short term investments | — | 999 | 20,254 | |||||||||||||||||||||||||||||||||
Other assets | 120,469 | 120,906 | 106,045 | |||||||||||||||||||||||||||||||||
Total consolidated assets | $ | 2,885,978 | $ | 3,221,401 | $ | 3,264,441 | ||||||||||||||||||||||||||||||
Geographic Information | ||||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
Long Lived Assets | ||||||||||||||||||||||||||||||||||||
United States | $ | 384,626 | $ | 608,051 | $ | 515,096 | ||||||||||||||||||||||||||||||
Australia | 25,668 | 29,408 | 33,999 | |||||||||||||||||||||||||||||||||
Argentina | 94,705 | 1,705 | 5,213 | |||||||||||||||||||||||||||||||||
Bolivia | 235,085 | 240,905 | 230,956 | |||||||||||||||||||||||||||||||||
Mexico | 1,487,228 | 1,795,677 | 1,903,374 | |||||||||||||||||||||||||||||||||
Other Foreign Countries | 10,462 | 65 | 65 | |||||||||||||||||||||||||||||||||
Total | $ | 2,237,774 | $ | 2,675,811 | $ | 2,688,703 | ||||||||||||||||||||||||||||||
Twelve months ended December 31, | ||||||||||||||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||||||||||
United States | $ | 268,023 | $ | 243,379 | $ | 208,517 | ||||||||||||||||||||||||||||||
Mexico | 324,040 | 442,098 | 513,097 | |||||||||||||||||||||||||||||||||
Bolivia | 141,721 | 178,005 | 267,502 | |||||||||||||||||||||||||||||||||
Australia | 12,871 | 18,848 | 18,737 | |||||||||||||||||||||||||||||||||
Argentina | (661 | ) | 13,162 | 13,347 | ||||||||||||||||||||||||||||||||
Total | $ | 745,994 | $ | 895,492 | $ | 1,021,200 | ||||||||||||||||||||||||||||||
The Company markets its doré to bullion trading houses, market makers and members of the London Bullion Market Association, industrial companies and other financial institutions. The Company has eight trading counterparties and the sales of metals to these companies amounted to approximately 72%, 91%, and 82% of total metal sales for the years ended December 31, 2013, 2012, and 2011, respectively. Generally, the loss of a single bullion trading counterparty would not adversely affect the Company due to the liquidity of the markets and the availability of alternative trading counterparties. | ||||||||||||||||||||||||||||||||||||
The Company currently has five trading counterparties for its silver and gold concentrates and the sales to these companies amounted to approximately 28%, 9%, and 18% of total metal sales for the years ended December 31, 2013, 2012, and 2011, respectively. The loss of any one smelting and refining client may have a material adverse effect if alternate smelters and refiners are not available. The Company believes there is sufficient global capacity available to address the loss of any one smelter. | ||||||||||||||||||||||||||||||||||||
The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years December 31, 2013, 2012, and 2011 (in millions): | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||||||
Customer | 2013 | 2012 | 2011 | Segments reporting revenue | ||||||||||||||||||||||||||||||||
Auramet | $ | 111.7 | $ | 94.6 | $ | 50.8 | Palmarejo, San Bartolomé, Kensington, Rochester | |||||||||||||||||||||||||||||
Toronto-Dominion Bank | 106.7 | 65.8 | — | Palmarejo, Rochester | ||||||||||||||||||||||||||||||||
INTL Commodities | 84.6 | 58 | 112.6 | Palmarejo, San Bartolomé, Rochester | ||||||||||||||||||||||||||||||||
China Gold | 81.5 | 43.8 | 108.9 | Kensington | ||||||||||||||||||||||||||||||||
Valcambi | 77.2 | 414.4 | 385.5 | Palmarejo, San Bartolomé | ||||||||||||||||||||||||||||||||
Mitsui | 70.3 | 65.6 | 105.1 | Palmarejo, Rochester | ||||||||||||||||||||||||||||||||
WriteDowns
Write-Downs | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||||
Write-Downs | ' | ||||||||||||
WRITE-DOWNS | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Property, plant, and equipment | |||||||||||||
Palmarejo | $ | 102,735 | $ | — | $ | — | |||||||
Kensington | 48,357 | — | — | ||||||||||
151,092 | — | — | |||||||||||
Mining properties | |||||||||||||
Palmarejo | 539,359 | — | — | ||||||||||
Kensington | 82,337 | — | — | ||||||||||
Martha | 205 | 5,825 | — | ||||||||||
621,901 | 5,825 | — | |||||||||||
Total | $ | 772,993 | $ | 5,825 | $ | — | |||||||
Write-downs were $773.0 million, $5.8 million, and $0.0 million in 2013, 2012, and 2011, respectively. The 2013 write-down was primarily due to a $642.1 million impairment of the Palmarejo mine (excluding $179.8 million tax benefit) and a $130.7 million impairment of the Kensington mine due to a decrease in the Company's long-term silver and gold price assumptions. The decrease in silver and gold price assumptions represented significant changes in the business, requiring the Company to evaluate for impairment. For purposes of this evaluation, estimates of future cash flows of the individual reporting units were used to determine fair value. The estimated cash flows were derived from life-of-mine plans, developed using long-term pricing reflective of the current price environment and management’s projections for operating costs. | |||||||||||||
The 2012 write-down was due to the cessation of mining operations at the Martha Mine in September 2012. Refer to Note 11 -- Fair Value Measurements for additional information related to the fair value determination of the impairment. |
Reclamation_and_Mine_Closure
Reclamation and Mine Closure | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | |||||||
RECLAMATION AND MINE CLOSURE | ' | |||||||
RECLAMATION AND MINE CLOSURE | ||||||||
Reclamation and mine closure costs are based principally on legal and regulatory requirements. Management estimates costs associated with reclamation of mining properties as well as remediation costs for inactive properties. The Company uses assumptions about future costs, mineral prices, mineral processing recovery rates, production levels, capital costs and reclamation costs. Such assumptions are based on the Company’s current mining plan and the best available information for making such estimates. The sum of the expected costs by year is discounted, using the Company's credit-adjusted risk-free interest rate. On an ongoing basis, management evaluates its estimates and assumptions; however, future expenditures could differ from those based on such estimates and assumptions. | ||||||||
Changes to the Company’s asset retirement obligations are as follows (in thousands): | ||||||||
Years ended December 31, | ||||||||
2013 | 2012 | |||||||
Asset retirement obligation - Beginning | $ | 34,457 | $ | 32,714 | ||||
Accretion | 3,442 | 2,911 | ||||||
Additions and changes in estimates | 20,236 | (1,073 | ) | |||||
Settlements | (681 | ) | (95 | ) | ||||
Asset retirement obligation - Ending | $ | 57,454 | $ | 34,457 | ||||
During the year ended December 31, 2013, Rochester and Kensington submitted updated reclamation plans to state and federal agencies based on new regulations, mine plans, and cost estimates. As a result of the new reclamation plans, the Company increased asset retirement obligations by $20.2 million in 2013. The Company did not have a similar change to the reclamation plans in the year ended December 31, 2012. | ||||||||
The Company has accrued $1.0 million and $0.9 million at December 31, 2013 and December 31, 2012, respectively, for reclamation liabilities related to former mining activities. These amounts are also included in Reclamation and mine closure in the Consolidated Balance Sheets. |
StockBased_Compensation_Plans
Stock-Based Compensation Plans | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||
STOCK-BASED COMPENSATION PLANS | ' | ||||||||||||||||||
-BASED COMPENSATION PLANS | |||||||||||||||||||
The Company has stock incentive plans for executives and eligible employees. Stock awards include stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, and performance share units. Share-based compensation expense for the years ended December 31, 2013, 2012, and 2011 was $4.8 million, $8.0 million, and $8.1 million, respectively. At December 31, 2013, there was $7.0 million of unrecognized stock-based compensation cost which is expected to be recognized over a weighted-average remaining vesting period of 1.7 years. | |||||||||||||||||||
Stock Options and Stock Appreciation Rights | |||||||||||||||||||
Stock options and stock appreciation rights (SARs) granted under the Company’s incentive plans vest over three years and are exercisable over a period not to exceed ten years from the grant date. The exercise price of the stock options and SARs is equal to the fair market value of the shares on the date of the grant. The value of each stock option award and SAR is estimated using the Black-Scholes option pricing model. Stock options are accounted for as equity awards and SARs are accounted for as liability awards and remeasured at each reporting date. SARs, when vested, provide the participant the right to receive cash equal to the excess of the market price of the shares over the exercise price when exercised. Cash used to settle SARs for the years ended December 31, 2013, 2012 and 2011 was $0.0 million, $0.4 million and $1.9 million, respectively. | |||||||||||||||||||
The following table sets forth the weighted average fair value of stock options and the assumptions used to estimate the fair value of the stock options using the Black-Scholes option valuation model: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Weighted average fair value of stock options granted | $ | 12.6 | $ | 15.77 | $ | 17.85 | |||||||||||||
Volatility | 76.74 | % | 70.56 | % | 72.56 | % | |||||||||||||
Expected life in years | 5 | 5.5 | 6 | ||||||||||||||||
Risk-free interest rate | 0.84 | % | 0.89 | % | 2.3 | % | |||||||||||||
Dividend yield | — | — | — | ||||||||||||||||
The following table summarizes stock option and SARs activity for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||
Stock Options | SARs | ||||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||||
Average | Average | ||||||||||||||||||
Exercise | Exercise | ||||||||||||||||||
Price | Price | ||||||||||||||||||
Outstanding at December 31, 2010 | 330,840 | $ | 24.6 | 230,563 | $ | 13.46 | |||||||||||||
Granted | 139,916 | 27.39 | — | — | |||||||||||||||
Exercised | (129,785 | ) | 11.41 | (119,801 | ) | 13.1 | |||||||||||||
Canceled/forfeited | (19,364 | ) | 40.16 | (3,123 | ) | 14.46 | |||||||||||||
Outstanding at December 31, 2011 | 321,607 | 24.6 | 107,639 | 13.46 | |||||||||||||||
Granted | 151,102 | 26.97 | — | — | |||||||||||||||
Exercised | (40,173 | ) | 11.84 | (34,385 | ) | 12.73 | |||||||||||||
Canceled/forfeited | (62,536 | ) | 29.22 | (4,389 | ) | 15.4 | |||||||||||||
Outstanding at December 31, 2012 | 370,000 | 30.2 | 68,865 | 13.83 | |||||||||||||||
Granted | 190,452 | 20.41 | — | — | |||||||||||||||
Exercised | (13,027 | ) | 10.77 | (6,617 | ) | 13.14 | |||||||||||||
Canceled/forfeited | (131,855 | ) | 29.3 | (12,039 | ) | 15.4 | |||||||||||||
Outstanding at December 31, 2013 | 415,570 | $ | 27.36 | 50,209 | $ | 14.15 | |||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||
Range of | Number | Weighted Average | Weighted | Number | Weighted | Weighted | |||||||||||||
Exercise Price | Outstanding | Exercise | Average | Exercisable | Average | Average | |||||||||||||
Price | Remaining | Exercise | Remaining | ||||||||||||||||
Contractual | Price | Contractual Life (Years) | |||||||||||||||||
Life (Years) | |||||||||||||||||||
$ 0.00-$10.00 | 13,262 | $ | 10 | 5.09 | 13,262 | $ | 10 | 5.09 | |||||||||||
$10.00-$20.00 | 99,245 | $ | 17.25 | 9.21 | 3,936 | $ | 19.01 | 8.35 | |||||||||||
$20.00-$30.00 | 227,896 | $ | 26.07 | 6.61 | 99,310 | $ | 27.29 | 4.05 | |||||||||||
$30.00-$40.00 | 38,369 | $ | 39 | 1.25 | 37,515 | $ | 39.09 | 1.12 | |||||||||||
$40.00-$50.00 | 14,386 | $ | 48.5 | 1.34 | 14,386 | $ | 48.5 | 1.34 | |||||||||||
$50.00-$60.00 | 9,544 | $ | 51.4 | 0.91 | 9,544 | $ | 51.4 | 0.91 | |||||||||||
$60.00-$70.00 | 3,219 | $ | 66.6 | 0.02 | 3,219 | $ | 66.6 | 0.02 | |||||||||||
$70.00-$80.00 | 9,649 | $ | 70.9 | 0.14 | 9,649 | $ | 70.9 | 0.14 | |||||||||||
415,570 | $ | 27.36 | 190,821 | $ | 33.91 | ||||||||||||||
At December 31, 2013, there was $0.9 million of unrecognized compensation cost related to non-vested stock options and SARs to be recognized over a weighted average period of 1.4 years. | |||||||||||||||||||
Restricted Stock and Restricted Stock Units | |||||||||||||||||||
Restricted stock and restricted stock units granted under the Company’s incentive plans are accounted for based on the market value of the underlying shares on the date of grant and vest in equal installments annually over three years. Restricted stock awards are accounted for as equity awards and restricted stock unit awards are accounted for as liability awards. Restricted stock units are remeasured at each reporting date. Restricted stock units are settled in cash based on the number of vested restricted stock units multiplied by the current market price of the common shares when vested. Holders of the restricted stock are entitled to vote the shares and to receive any dividends declared on the shares. Cash used to settle restricted stock units for the years ended December 31, 2013, 2012, and 2011 was $0.2 million, $0.9 million, and $2.2 million, respectively. | |||||||||||||||||||
The following table summarizes restricted stock and restricted stock units activity for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||
Restricted Stock | Restricted Stock Units | ||||||||||||||||||
Number of | Weighted | Number of | Weighted Average | ||||||||||||||||
Shares | Average | Units | Fair Value | ||||||||||||||||
Grant Date | |||||||||||||||||||
Fair Value | |||||||||||||||||||
Outstanding at December 31, 2010 | 64,623 | $ | 11.37 | 126,416 | $ | 27.32 | |||||||||||||
Granted | 205,463 | 27.37 | — | — | |||||||||||||||
Vested | (85,323 | ) | 19.36 | (79,014 | ) | 27.87 | |||||||||||||
Cancelled/Forfeited | (11,254 | ) | 26.89 | (1,884 | ) | 25.03 | |||||||||||||
Outstanding at December 31, 2011 | 173,509 | 11.37 | 45,518 | 27.32 | |||||||||||||||
Granted | 230,096 | 26.4 | — | — | |||||||||||||||
Vested | (95,336 | ) | 23.15 | (31,456 | ) | 25.92 | |||||||||||||
Cancelled/Forfeited | (68,571 | ) | 27.43 | (2,651 | ) | 24.6 | |||||||||||||
Outstanding at December 31, 2012 | 239,698 | 25.38 | 11,411 | 24.14 | |||||||||||||||
Granted | 573,467 | 15.38 | — | — | |||||||||||||||
Vested | (90,963 | ) | 26.83 | (11,411 | ) | 22.74 | |||||||||||||
Cancelled/Forfeited | (109,116 | ) | 23.3 | — | — | ||||||||||||||
Outstanding at December 31, 2013 | 613,086 | $ | 16.68 | — | $ | — | |||||||||||||
At December 31, 2013, there was $3.6 million of total unrecognized compensation cost related to restricted stock and restricted stock unit awards to be recognized over a weighted-average period of 1.7 years. | |||||||||||||||||||
Performance Shares and Performance Share Units | |||||||||||||||||||
Performance shares and performance share units granted under the Company’s incentive plans are accounted for at fair value. Performance share awards are accounted for as equity awards and performance units are accounted for as liability-based awards. Performance shares and performance units are valued using a Monte Carlo simulation valuation model on the date of grant. The value of the performance units is remeasured each reporting date. Vesting is contingent on meeting certain market conditions based on relative total stockholder return. The performance shares and units vest at the end of the three-year service period if market and service conditions are met. The existence of a market condition requires recognition of compensation cost for the performance share awards over the requisite period regardless of whether the market condition is satisfied. Performance units are cash-based awards and are settled in cash based on the current market price of the common shares when vested. Cash used to settle performance units for the years ended December 31, 2013, 2012, and 2011 was $1.2 million, $2.1 million, and $1.4 million, respectively. | |||||||||||||||||||
The following table summarizes performance shares and performance units’ activity for the years-ended December 31, 2013, 2012, and 2011: | |||||||||||||||||||
Performance Shares | Performance Units | ||||||||||||||||||
Number of | Weighted | Number of | Weighted Average | ||||||||||||||||
Shares | Average | Units | Fair Value | ||||||||||||||||
Grant Date | |||||||||||||||||||
Fair Value | |||||||||||||||||||
Outstanding at December 31, 2010 | 100,828 | $ | 16.29 | 145,023 | $ | 35.41 | |||||||||||||
Granted | 81,489 | 42.72 | — | — | |||||||||||||||
Vested | (56,830 | ) | 23.24 | (57,948 | ) | 24.68 | |||||||||||||
Cancelled/Forfeited | (19,558 | ) | 48.62 | (2,536 | ) | 25.03 | |||||||||||||
Outstanding at December 31, 2011 | 105,929 | 16.29 | 84,539 | 35.41 | |||||||||||||||
Granted | 145,508 | 25.78 | 32,498 | — | |||||||||||||||
Vested | (111,703 | ) | 7.96 | (74,845 | ) | 31.17 | |||||||||||||
Cancelled/Forfeited | (30,575 | ) | 42.11 | (7,953 | ) | 49.2 | |||||||||||||
Outstanding at December 31, 2012 | 109,159 | 26.92 | 34,239 | 39.78 | |||||||||||||||
Granted | 173,773 | 23.35 | 34,239 | 38.02 | |||||||||||||||
Vested | (4,160 | ) | 30.97 | (68,478 | ) | 38.02 | |||||||||||||
Cancelled/Forfeited | (68,377 | ) | 34.49 | — | — | ||||||||||||||
Outstanding at December 31, 2013 | 210,395 | $ | 28.04 | — | $ | — | |||||||||||||
At December 31, 2013, there was $2.4 million of total unrecognized compensation cost related to performance shares to be recognized over a weighted average period of 1.9 years. |
Defined_Contribution_and_401k_
Defined Contribution and 401(k) Plans | 12 Months Ended |
Dec. 31, 2013 | |
Postemployment Benefits [Abstract] | ' |
DEFINED CONTRIBUTION AND 401(k) PLANS | ' |
DEFINED CONTRIBUTION AND 401(k) PLAN | |
The Company maintains a retirement savings plan (which qualifies under Section 401(k) of the U.S. Internal Revenue Code) covering all eligible U.S. employees. Under the plan, employees may elect to contribute up to 75% of base salary, subject to ERISA limitations. The Company adopted a Safe Harbor Tiered Match and is required to make matching contributions equal to 100% of the employee’s contribution up to 3% of the employee’s compensation plus matching contributions equal to 50% of the employee’s contribution up to an additional 2% of the employee’s compensation. In addition, the Company provides a noncontributory defined contribution based on a percentage of eligible employee's salary. Total plan expenses recognized for the years ended December 31, 2013, 2012, and 2011 were $4.1 million, $4.1 million, and $2.9 million, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||
INCOME TAXES | ' | ||||||||||||||||||||
INCOME TAXES | |||||||||||||||||||||
The components of income (loss) before income taxes were as follows (in thousands): | |||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
United States | $ | (242,562 | ) | $ | (3,443 | ) | $ | (38,372 | ) | ||||||||||||
Foreign | (566,117 | ) | 122,927 | 246,617 | |||||||||||||||||
Total | $ | (808,679 | ) | $ | 119,484 | $ | 208,245 | ||||||||||||||
For the years ended December 31, 2013, 2012, and 2011 the Company reported an income tax (provision) benefit of $158.1 million, $(70.8) million, and $(114.7) million, respectively. | |||||||||||||||||||||
The following table summarizes the components of the Company’s income tax provision from continuing operations for the three years ended December 31, 2013, 2012, and 2011 (in thousands): | |||||||||||||||||||||
The components of the consolidated income tax benefit (expense) from continuing operations were as follows: | |||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Current: | |||||||||||||||||||||
United States | $ | 4 | $ | (257 | ) | $ | 2,015 | ||||||||||||||
United States — State mining taxes | (714 | ) | (2,195 | ) | (409 | ) | |||||||||||||||
United States — Foreign withholding tax | 397 | (736 | ) | (842 | ) | ||||||||||||||||
Argentina | (137 | ) | 976 | (1,219 | ) | ||||||||||||||||
Australia | (914 | ) | (1,760 | ) | (1,755 | ) | |||||||||||||||
Mexico | (9,046 | ) | (7,814 | ) | (1,084 | ) | |||||||||||||||
Bolivia | (6,716 | ) | (43,546 | ) | (59,660 | ) | |||||||||||||||
Canada | (1,936 | ) | — | — | |||||||||||||||||
Deferred: | |||||||||||||||||||||
Argentina | 8,062 | — | — | ||||||||||||||||||
Australia | (2 | ) | (223 | ) | (661 | ) | |||||||||||||||
Bolivia | (4,222 | ) | (1,087 | ) | (207 | ) | |||||||||||||||
Mexico | 94,851 | (10,579 | ) | (28,022 | ) | ||||||||||||||||
United States | 78,489 | (3,586 | ) | (22,902 | ) | ||||||||||||||||
Income tax benefit (expense) | $ | 158,116 | $ | (70,807 | ) | $ | (114,746 | ) | |||||||||||||
A reconciliation of the Company’s effective tax rate with the federal statutory tax rate for the periods indicated is as follows: | |||||||||||||||||||||
Years Ended December 31 | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Tax benefit (expense) from continuing operations | $ | 283,038 | $ | (41,819 | ) | $ | (72,886 | ) | |||||||||||||
State tax provision from continuing operations | 2,245 | (3,151 | ) | (11,009 | ) | ||||||||||||||||
Percentage depletion and related deductions | — | 7,461 | — | ||||||||||||||||||
Change in valuation allowance | (106,802 | ) | (12,651 | ) | (6,032 | ) | |||||||||||||||
Non-deductible imputed interest | (214 | ) | (525 | ) | (808 | ) | |||||||||||||||
Uncertain tax positions | (5,209 | ) | (9,849 | ) | (1,279 | ) | |||||||||||||||
U.S. and foreign non-deductible expenses | (2,383 | ) | (4,206 | ) | (10,648 | ) | |||||||||||||||
Foreign exchange rates | 13,937 | (10,416 | ) | (4,440 | ) | ||||||||||||||||
Foreign inflation and indexing | 2,937 | 712 | (3,829 | ) | |||||||||||||||||
Foreign tax rate differences | (24,108 | ) | 3,967 | 22,795 | |||||||||||||||||
Foreign withholding and other foreign taxes | (100,331 | ) | (5,861 | ) | (23,246 | ) | |||||||||||||||
Foreign tax credits and other, net | 13,153 | 5,531 | (3,364 | ) | |||||||||||||||||
Change in Mexico permanent reinvestment assertion | 81,853 | — | — | ||||||||||||||||||
$ | 158,116 | $ | (70,807 | ) | $ | (114,746 | ) | ||||||||||||||
As of December 31, 2013 and 2012, the significant components of the Company’s deferred tax assets and liabilities were as follows: | |||||||||||||||||||||
Years Ended December 31 | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||
Mineral properties | $ | 344,152 | $ | 461,742 | |||||||||||||||||
Mexican mining royalty tax | 76,386 | — | |||||||||||||||||||
Foreign subsidiaries — unremitted earnings | 182,464 | 247,000 | |||||||||||||||||||
Inventory | 2,746 | — | |||||||||||||||||||
Property, plant and equipment, net | 33,094 | 60,266 | |||||||||||||||||||
$ | 638,842 | $ | 769,008 | ||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||
Net operating loss carryforwards | 130,170 | 99,323 | |||||||||||||||||||
Foreign subsidiaries — future tax credits | 163,947 | 145,395 | |||||||||||||||||||
Royalty and other long-term debt | 11,616 | 42,221 | |||||||||||||||||||
Capital loss carryforwards | 34,930 | 35,315 | |||||||||||||||||||
Asset retirement obligation | 18,589 | 8,623 | |||||||||||||||||||
Unrealized foreign currency loss and other | 9,567 | 1,590 | |||||||||||||||||||
Accrued expenses | 14,756 | 20,692 | |||||||||||||||||||
Tax credit carryforwards | 23,585 | 22,811 | |||||||||||||||||||
Inventory | — | 1,418 | |||||||||||||||||||
407,160 | 377,388 | ||||||||||||||||||||
Valuation allowance | (289,378 | ) | (182,576 | ) | |||||||||||||||||
117,782 | 194,812 | ||||||||||||||||||||
Net deferred tax liabilities | $ | (521,060 | ) | $ | (574,196 | ) | |||||||||||||||
The Company has evaluated the amount of taxable income and periods over which it must be earned to allow for realization of the deferred tax assets. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this decision. Based upon this analysis, the Company has recorded valuation allowances as follows: | |||||||||||||||||||||
Years Ended December 31 | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
U.S. | $ | 236,653 | $ | 132,790 | |||||||||||||||||
Argentina | 17,005 | 18,442 | |||||||||||||||||||
Canada | 4,453 | 2,227 | |||||||||||||||||||
New Zealand | 27,292 | 27,125 | |||||||||||||||||||
Other | 3,975 | 1,992 | |||||||||||||||||||
$ | 289,378 | $ | 182,576 | ||||||||||||||||||
A reconciliation of the beginning and ending amount related to unrecognized tax benefits is as follows (in thousands): | |||||||||||||||||||||
Unrecognized tax benefits at January 1, 2012 | $ | 1,980 | |||||||||||||||||||
Gross increase to current period tax positions | 9,227 | ||||||||||||||||||||
Gross decrease to prior period tax positions | (696 | ) | |||||||||||||||||||
Unrecognized tax benefits at December 31, 2012 | $ | 10,511 | |||||||||||||||||||
Gross increase to current period tax positions | 2,231 | ||||||||||||||||||||
Gross increase to prior period tax positions | 2,761 | ||||||||||||||||||||
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statue of limitations | (32 | ) | |||||||||||||||||||
Unrecognized tax benefits at December 31, 2013 | $ | 15,471 | |||||||||||||||||||
At December 31, 2013, 2012, and 2011, $14.3 million, $10.3 million, and $1.1 million, respectively, of these gross unrecognized benefits would, if recognized, decrease the Company's effective tax rate. The Company is not able to estimate the amount of change in the Company's gross unrecognized tax benefits within the next twelve months. | |||||||||||||||||||||
The Company classifies interest and penalties associated with uncertain tax positions as a component of income tax expense and has recognized interest and penalties of $3.8 million, $2.5 million, and $0.4 million as of 2013, 2012, and 2011, respectively. | |||||||||||||||||||||
The Company files income tax returns in various U.S. federal and state jurisdictions, in all identified foreign jurisdictions and various others. The statute of limitations remains open from 2009 for the US federal jurisdiction and from 2004 for certain other foreign jurisdictions. | |||||||||||||||||||||
In the fourth quarter of 2013, the Company made an assertion that earnings are permanently reinvested in its Coeur Mexicana mining operations entity which results in an income tax benefit in the current year of $81 million. Therefore, at December 31, 2013, no provision has been made for United States federal and state income taxes on the Company's outside tax basis differences in Mexico, which primarily relate to accumulated foreign earnings which have been reinvested and are expected to be reinvested outside the United States indefinitely. | |||||||||||||||||||||
During 2007, the Company incurred an ownership change which generally limits the availability of existing tax attributes, including net operating loss carryforwards to reduce future taxable income. The Company has the following tax attribute carryforwards as of December 31, 2013, by jurisdiction: | |||||||||||||||||||||
U.S. | Argentina | Canada | Mexico | New Zealand | Other | Total | |||||||||||||||
Regular net operating losses | 226,985 | 21,061 | 7,203 | 4,170 | 97,470 | 6,641 | 363,530 | ||||||||||||||
Alternative minimum tax net operating losses | 99,954 | — | — | — | — | — | 99,954 | ||||||||||||||
Capital losses | 90,258 | — | 3,579 | — | — | — | 93,837 | ||||||||||||||
Alternative minimum tax credits | 3,136 | — | — | — | — | — | 3,136 | ||||||||||||||
Foreign tax credits | 19,494 | — | — | — | — | — | 19,494 | ||||||||||||||
The U.S. net operating losses expire from 2019 through 2033 and the Canada net operating losses will expire from 2029 through 2033. The Mexico net operating losses expire from 2017 to 2023, while the remaining net operating losses from the foreign jurisdictions have an indefinite carryforward period. The U.S. capital losses expire in 2015 while the Canada capital losses generally have an indefinite carryforward period. Alternative minimum tax credits do not expire and foreign tax credits expire if unused beginning in 2019. |
Net_Income_Loss_Per_Share
Net Income (Loss) Per Share | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
NET INCOME (LOSS) PER SHARE | ' | |||||||||||
NET INCOME (LOSS) PER SHARE | ||||||||||||
Basic income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the year ended December 31, 2013, 1,111,021 shares of common stock equivalents related to equity-based awards were not included in the diluted per share calculation due to the net loss incurred. For the year ended December 31, 2012, 479,767 shares of common stock equivalents related to equity-based awards were not included in the diluted per share calculation as the shares would be antidilutive. For the year ended December 31, 2011, 1,059,228 shares of common stock equivalents related to convertible debt and 4,258 equity based awards have not been included in the diluted per share calculation as the impact of share conversion would be antidilutive. The 3.25% Convertible Senior Notes were not included in the computation of diluted earnings per share for the years ended December 31, 2013, 2012, and 2011 because there is no excess value upon conversion over the principal amount of the Notes. | ||||||||||||
Year ended December 31, | ||||||||||||
In thousands except per share amounts | 2013 | 2012 | 2011 | |||||||||
Net income (loss) available to common stockholders | $ | (650,563 | ) | $ | 48,677 | $ | 93,499 | |||||
Weighted average shares | ||||||||||||
Basic | 97,864 | 89,437 | 89,383 | |||||||||
Effect of share based compensation plans | — | 166 | 342 | |||||||||
Diluted | 97,864 | 89,603 | 89,725 | |||||||||
Income (loss) per share: | ||||||||||||
Basic | $ | (6.65 | ) | $ | 0.54 | $ | 1.05 | |||||
Diluted | $ | (6.65 | ) | $ | 0.54 | $ | 1.04 | |||||
Acquisitions
Acquisitions | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Business Combinations [Abstract] | ' | |||
ACQUISITIONS | ' | |||
ACQUISITIONS | ||||
The Company completed the acquisition of Orko Silver Corporation (“Orko”) in April 2013. Upon completion of the acquisition, the Company holds the La Preciosa silver-gold project in the state of Durango, Mexico. The transaction was accounted for as a purchase of mineral interests since La Preciosa is a development stage project. The Company incurred $17.6 million of acquisition costs related to the acquisition of Orko which were capitalized. | ||||
Total consideration paid for the asset acquisition (in thousands): | ||||
Common shares issued (11,572,918 at $14.98) | $ | 173,363 | ||
Cash | 99,059 | |||
Warrants (1,588,768 valued at $3.64 per warrant) | 5,777 | |||
Transaction advisory fees and other acquisition costs | 17,642 | |||
Total purchase price | 295,841 | |||
Current liabilities | 2,616 | |||
Deferred income taxes | 114,339 | |||
Total liabilities assumed | 116,955 | |||
Total consideration | $ | 412,796 | ||
Estimated fair value of the assets acquired (in thousands): | ||||
Cash | $ | 3,487 | ||
Other current assets | 635 | |||
Mineral interests | 408,352 | |||
Other assets | 322 | |||
Total assets acquired | $ | 412,796 | ||
The Company completed the acquisition of Global Royalty Corporation (“GRC”) in December 2013. The transaction was accounted for as a business combination. Upon completion of the acquisition, the Company holds net smelter royalties on the El Gallo complex in Mexico and the Zaruma mine in Ecuador. The Company incurred $0.3 million of acquisition related costs in 2013 related to the acquisition of GRC which are included in General and administrative expenses in the Consolidated Statement of Comprehensive Income (Loss). | ||||
Total consideration paid for the acquisition (in thousands): | ||||
Common shares issued (2,130,351 at $10.42) | $ | 22,198 | ||
Cash | 3,849 | |||
Total purchase price | 26,047 | |||
Current liabilities | 679 | |||
Deferred income taxes | 7,926 | |||
Total liabilities assumed | 8,605 | |||
Total consideration | $ | 34,652 | ||
Estimated fair value of the assets acquired (in thousands): | ||||
Cash | $ | 165 | ||
Receivables | 276 | |||
Metal and other inventory | 111 | |||
Mineral interests | 34,100 | |||
Total assets acquired | $ | 34,652 | ||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ' | |||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||||||||||
Accounting standards establish a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: | ||||||||||||||||||||||||
Level 1 | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |||||||||||||||||||||||
Level 2 | Quoted market prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and | |||||||||||||||||||||||
Level 3 | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). | |||||||||||||||||||||||
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands): | ||||||||||||||||||||||||
Fair Value at December 31, 2013 | ||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Marketable equity securities | $ | 14,521 | $ | 14,521 | $ | — | $ | — | ||||||||||||||||
Gold and silver put options | 135 | — | 135 | — | ||||||||||||||||||||
$ | 14,656 | $ | 14,521 | $ | 135 | $ | — | |||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Palmarejo royalty obligation embedded derivative | $ | 40,338 | $ | — | $ | — | $ | 40,338 | ||||||||||||||||
Rochester NSR royalty obligation | 21,630 | — | — | 21,630 | ||||||||||||||||||||
Other derivative instruments, net | 1,590 | — | 1,590 | — | ||||||||||||||||||||
$ | 63,558 | $ | — | $ | 1,590 | $ | 61,968 | |||||||||||||||||
Fair Value at December 31, 2012 | ||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Short-term investments | $ | 999 | $ | 999 | $ | — | $ | — | ||||||||||||||||
Marketable equity securities | 27,065 | 27,065 | — | — | ||||||||||||||||||||
Put and call options | 943 | — | 943 | — | ||||||||||||||||||||
$ | 29,007 | $ | 28,064 | $ | 943 | $ | — | |||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Palmarejo royalty obligation embedded derivative | $ | 145,098 | $ | — | $ | 145,098 | $ | — | ||||||||||||||||
Put and call options | 9,299 | — | 9,299 | — | ||||||||||||||||||||
$ | 154,397 | $ | — | $ | 154,397 | $ | — | |||||||||||||||||
The Company’s short-term investments are readily convertible to cash and, therefore, these investments are classified within Level 1 of the fair value hierarchy. | ||||||||||||||||||||||||
The Company’s marketable equity securities are recorded at fair market value in the financial statements based on quoted market prices, which are accessible at the measurement date for identical assets. Such instruments are classified within Level 1 of the fair value hierarchy. Please see Note 13 -- Investments for additional details on marketable equity securities. | ||||||||||||||||||||||||
The Company’s gold put and call options and other derivative instruments, net, which relate to the concentrate sales contracts and foreign exchange contracts, are valued using pricing models, which require inputs that are derived from observable market data, including contractual terms, forward market prices, yield curves and credit spreads. The model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy. | ||||||||||||||||||||||||
The estimated fair value of the Palmarejo royalty obligation embedded derivative and Rochester NSR royalty obligation was estimated based on observable market data including contractual terms, forward silver and gold prices, yield curves and credit spreads. The Company’s current mine plans are a significant input used in the estimated fair value of the Palmarejo royalty obligation embedded derivative and Rochester NSR royalty obligation and is considered company specific and unobservable. Therefore, the Company has classified the Palmarejo royalty obligation embedded derivative and Rochester NSR royalty obligation as Level 3 financial liabilities. Based on the current mine plans, an expected royalty duration of 2.5 years and 5.1 years were used to estimate the fair value of the Palmarejo royalty obligation embedded derivative and Rochester NSR royalty obligation, respectively, as of December 31, 2013. The Company had no Level 3 financial assets or liabilities as of December 31, 2012. | ||||||||||||||||||||||||
The following table presents the changes in the fair value of the Company's Level 3 financial liabilities for the twelve months ended December 31, 2013. | ||||||||||||||||||||||||
Balance at the beginning of the period | Additions | Revaluation | Transfers from Level 2 | Balance at the end of the period | Unrealized gains (losses) recognized in income statement | |||||||||||||||||||
Palmarejo royalty obligation embedded derivative | $ | — | $ | — | $ | (104,760 | ) | $ | 145,098 | $ | 40,338 | $ | 104,760 | |||||||||||
Rochester NSR royalty obligation | — | 22,046 | (416 | ) | — | 21,630 | 416 | |||||||||||||||||
During 2013, Coeur recorded write-downs related to Property, Plant, and Equipment and Mining Properties totaling $773.0 million. The fair values of Property, Plant, and Equipment and Mining Properties were estimated using a discounted cash flow approach. The discounted cash flow model used significant unobservable inputs and is therefore classified within Level 3 for the fair value hierarchy. The following table sets forth the quantitative and qualitative information related to the unobservable inputs used in the calculation of the Company's non-recurring Level 3 fair value measurements: | ||||||||||||||||||||||||
Description | Valuation technique | Unobservable input | Range / Weighted Average | |||||||||||||||||||||
Property, plant, and equipment | Discounted cash flow | Discount rate | 8.5% - 10.5% | |||||||||||||||||||||
Long-term silver price | $25.00 | |||||||||||||||||||||||
Long-term gold price | $1,450 | |||||||||||||||||||||||
Mining properties | Discounted cash flow | Discount rate | 8.5% - 10.5% | |||||||||||||||||||||
Long-term silver price | $25.00 | |||||||||||||||||||||||
Long-term gold price | $1,450 | |||||||||||||||||||||||
The fair value of financial assets and liabilities that are measured at book value in the financial statements at December 31, 2013 and December 31, 2012 are presented in the following table (in thousands): | ||||||||||||||||||||||||
Fair Value at December 31, 2013 | ||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
3.25% Convertible Senior Notes due 2028 | $ | 5,067 | $ | 5,067 | $ | — | $ | — | ||||||||||||||||
7.875% Senior Notes due 2021 | 307,314 | 307,314 | — | — | ||||||||||||||||||||
Palmarejo Gold Production Royalty Obligation | 65,212 | — | — | 65,212 | ||||||||||||||||||||
Fair Value at December 31, 2012 | ||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
3.25% Convertible Senior Notes due 2028 | $ | 48,220 | $ | 48,220 | $ | — | $ | — | ||||||||||||||||
Palmarejo Gold Production Royalty Obligation | 90,617 | — | 90,617 | — | ||||||||||||||||||||
The fair value at December 31, 2013 and December 31, 2012 of the 3.25% Convertible Senior Notes and 7.875% Senior Notes outstanding were determined by active market transactions. As such, the notes are classified as Level 1 in the fair value hierarchy. | ||||||||||||||||||||||||
The fair value of the Palmarejo Gold Production Royalty Obligation is estimated based on observable market data including contractual terms, forward silver and gold prices, yield curves and credit spreads. The Company’s current mine plan is a significant input used in the estimated fair value of the Palmarejo Gold Production Royalty Obligation and is considered company specific and unobservable. Therefore, the Company has classified the Palmarejo Gold Production Royalty Obligation as Level 3 financial liabilities. Based on the current mine plan, an expected royalty duration of 2.5 years was used to estimate the fair value of the Palmarejo Gold Production Royalty Obligation as of December 31, 2013. | ||||||||||||||||||||||||
The fair value of the Company's cash equivalents, receivables, restricted assets, accounts payable, accrued liabilities, and capital leases approximate book value due to the nature of these assets and liabilities and are classified as Level 1 in the fair value hierarchy, except for capital leases which are classified as Level 2. | ||||||||||||||||||||||||
The fair value of the Company's non-current portion of the refundable value added tax is not practicable to estimate due to the uncertainty of the timing of the expected future cash flows to be received. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | ' | |||||||||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | ||||||||||||||||||||
Palmarejo Gold Production Royalty | ||||||||||||||||||||
On January 21, 2009, the Company entered into a gold production royalty transaction with Franco-Nevada Corporation. The royalty covers 50% of the life of mine production from the Palmarejo mine and adjacent properties. The royalty transaction included a minimum obligation of 4,167 ounces per month that ends when payments have been made on a total of 400,000 ounces of gold. At December 31, 2013, a total of 140,931 ounces of gold remain outstanding under the minimum royalty obligation. | ||||||||||||||||||||
The price volatility associated with the minimum royalty obligation is considered an embedded derivative. The Company is required to recognize the change in fair value of the remaining minimum obligation due to changing gold prices. Unrealized gains are recognized in periods when the gold price has decreased from the previous period and unrealized losses are recognized in periods when the gold price increases. The fair value of the embedded derivative is reflected net of the Company's current credit adjusted risk free rate, which was 5.7% and 4.2% at December 31, 2013 and 2012, respectively. The fair value of the embedded derivative at December 31, 2013 and 2012 was a liability of $40.3 million and $145.1 million, respectively. During the years ended December 31, 2013, 2012, and 2011, the mark-to-market adjustments for this embedded derivative amounted to gains of $104.8 million, losses of $14.3 million, and losses of $2.6 million, respectively. | ||||||||||||||||||||
Payments on the royalty obligation decrease the carrying amount of the minimum obligation and the derivative liability. Each monthly payment is an amount equal to the greater of the minimum of 4,167 ounces of gold or 50% of the actual gold production per month multiplied by the excess of the monthly average market price of gold above $400 per ounce, which is subject to a 1% annual inflation compounding adjustment beginning on January 21, 2013). For the years ended December 31, 2013, 2012, and 2011 realized losses on settlement of the liabilities were $28.7 million, $45.4 million, and $42.8 million, respectively. The mark-to-market adjustments and realized losses are included in Fair value adjustments, net in the Consolidated Statement of Comprehensive Income (Loss). | ||||||||||||||||||||
Foreign Exchange Contracts and Hedges | ||||||||||||||||||||
The Company periodically enters into forward foreign currency contracts to reduce the foreign exchange risk associated with forecasted Mexican peso (“MXN”) operating costs at its Palmarejo mine. At December 31, 2013, the Company had MXN foreign exchange forward contracts with a notional amount of $12.0 million. These contracts require the Company to exchange U.S. dollars for MXN at a weighted average exchange rate of 12.21 MXN to each U.S. dollar, and the Company had a liability related to these contracts with a fair value of $0.9 million at December 31, 2013. In addition, at December 31, 2013, the Company had outstanding call options requiring it to sell $45.0 million in U.S. dollars in exchange for MXN at a weighted average strike price of 14.80 MXN to each U.S. dollar if the foreign exchange rate exceeds the strike price. Further, at December 31, 2013, the Company had outstanding put options allowing it to buy $45.0 million in U.S. dollars in exchange for MXN at a weighted average strike price of 12.60 MXN to each U.S. dollar if the foreign exchange rate exceeds the strike price. The Company had a liability related to these contracts with an insignificant fair value at December 31, 2013. The Company recorded a mark-to-market loss on its MXN contracts of $1.0 million for the twelve months ended December 31, 2013. | ||||||||||||||||||||
At December 31, 2012, the Company had MXN foreign exchange forward contracts on $26.1 million in U.S. dollars. These contracts required the Company to exchange U.S. dollars for MXN at a weighted average exchange rate of 13.11 MXN to each U.S. dollar and the Company had a liability with a fair value of $0.1 million at December 31, 2012. The Company recorded mark-to-market gains of $3.3 million and losses of $3.2 million for the years ended December 31, 2012 and 2011, respectively. These mark-to-market adjustments are reflected in fair value adjustments, net. The Company recorded realized gains of $0.6 million, realized losses of $1.6 million, and realized gains of $0.4 million in production costs applicable to sales during the years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||||||||||||||
Gold Lease Facility | ||||||||||||||||||||
On December 12, 2008, the Company entered into a gold lease facility with Mitsubishi International Corporation (“MIC”). This gold lease facility was terminated in 2011. The Company recorded realized losses of $2.3 million for the year ended December 31, 2011, included in fair value adjustments, net. | ||||||||||||||||||||
Concentrate Sales Contracts | ||||||||||||||||||||
The Company enters into concentrate sales contracts with third-party smelters. The contracts, in general, provide for a provisional payment based upon provisional assays and forward metal prices. The provisionally priced sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of concentrates at the forward price at the time of sale. The embedded derivatives do not qualify for hedge accounting and are adjusted to fair value through earnings each period until the date of final settlement. At December 31, 2013, the Company had outstanding provisionally priced sales of $42.4 million, consisting of 0.2 million ounces of silver and 30,780 ounces of gold. At December 31, 2012, the Company had outstanding provisionally priced sales of $33.2 million consisting of 0.4 million ounces of silver and 11,957 ounces of gold. | ||||||||||||||||||||
Commodity Derivatives | ||||||||||||||||||||
At December 31, 2013, the Company had outstanding put options allowing it to net settle 25,000 ounces of gold and 1,250,000 ounces of silver at weighted average strike prices of $1,150 per ounce and $17.00 per ounce, respectively, if the market price of gold or silver were to average less than the strike price during the contract period. The contracts expire during the first quarter of 2014. At December 31, 2013, the fair market value of these contracts was a net asset of $0.1 million. | ||||||||||||||||||||
At December 31, 2012, the Company had written outstanding call options requiring it to deliver 97,000 ounces of gold at a weighted average price of $1,968 per ounce if the market price of gold exceeds that price. At December 31, 2012, the Company had outstanding put options allowing it to sell 122,000 ounces of gold at a weighted average price of $968 per ounce if the market price of gold were to fall below that price. At December 31, 2012, the fair market value of these contracts was a net liability of $9.3 million. During the year ended December 31, 2013, the Company settled the remaining 97,000 ounces of gold put options and 84,500 ounces of gold call options for a net realized gain of $0.4 million. | ||||||||||||||||||||
During the year ended December 31, 2011, the Company settled an outstanding forward gold contract of 10,000 ounces at a fixed price of $1,380 per ounce, which resulted in a realized gain of $0.5 million. | ||||||||||||||||||||
During the year ended December 31, 2013, 2012, and 2011, the Company recorded unrealized gains of $8.9 million, unrealized gains of $8.6 million, and unrealized losses of $3.1 million, respectively, related to the outstanding options which was included in fair value adjustments, net. | ||||||||||||||||||||
In connection with the sale of the Cerro Bayo mine to Mandalay Resources Corporation, the Company received the right to 125,000 ounces of silver to be delivered in six equal quarterly installments commencing in the third quarter of 2011. The Company recognized mark-to-market losses of $0.6 million for the year ended December 31, 2012 and mark-to-market gains of $0.8 million for the year ended December 31, 2011 associated with this silver. | ||||||||||||||||||||
At December 31, 2013, the Company had the following derivative instruments that settle in each of the years indicated (in thousands except average prices and notional ounces): | ||||||||||||||||||||
2014 | 2015 | 2016 | Thereafter | |||||||||||||||||
Palmarejo gold production royalty | $ | 29,831 | $ | 24,764 | $ | 15,141 | $ | — | ||||||||||||
Average gold price in excess of minimum contractual deduction | 498 | 494 | 490 | — | ||||||||||||||||
Notional ounces | 59,856 | 50,153 | 30,922 | — | ||||||||||||||||
Mexican peso forward purchase contracts | $ | 12,000 | $ | — | $ | — | $ | — | ||||||||||||
Average rate (MXN/$) | 12.21 | — | — | — | ||||||||||||||||
Mexican peso notional amount | 146,460 | — | — | — | ||||||||||||||||
Mexican peso put options purchased | $ | 45,000 | $ | — | $ | — | $ | — | ||||||||||||
Average rate (MXN/$) | 12.6 | — | — | — | ||||||||||||||||
Mexican peso notional amount | 567,150 | — | — | — | ||||||||||||||||
Mexican peso call options sold | $ | 45,000 | $ | — | $ | — | $ | — | ||||||||||||
Average rate (MXN/$) | 14.8 | — | — | — | ||||||||||||||||
Mexican peso notional amount | 666,075 | — | — | — | ||||||||||||||||
Silver concentrate sales agreements | $ | 3,645 | $ | — | $ | — | $ | — | ||||||||||||
Average silver price | $ | 20.98 | $ | — | $ | — | $ | — | ||||||||||||
Notional ounces | 173,752 | — | — | — | ||||||||||||||||
Gold concentrate sales agreements | $ | 38,760 | $ | — | $ | — | $ | — | ||||||||||||
Average gold price | $ | 1,259 | $ | — | $ | — | $ | — | ||||||||||||
Notional ounces | 30,780 | — | — | — | ||||||||||||||||
Gold put options purchased | $ | 274 | $ | — | $ | — | $ | — | ||||||||||||
Average gold strike price | $ | 1,150 | $ | — | $ | — | $ | — | ||||||||||||
Notional ounces | 25,000 | — | — | — | ||||||||||||||||
Silver put options purchased | $ | 238 | $ | — | $ | — | $ | — | ||||||||||||
Average silver strike price | $ | 17 | $ | — | $ | — | $ | — | ||||||||||||
Notional ounces | 1,250,000 | — | — | — | ||||||||||||||||
The following summarizes the classification of the fair value of the derivative instruments (in thousands): | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Prepaid | Accrued | Other long- | Current | Non-current | ||||||||||||||||
expenses and | liabilities and | term | portion of | portion of | ||||||||||||||||
other | other | liabilities | royalty | royalty | ||||||||||||||||
obligation | obligation | |||||||||||||||||||
Foreign exchange contracts, peso | $ | 38 | $ | 947 | $ | — | $ | — | $ | — | ||||||||||
Palmarejo gold production royalty | — | — | — | 17,650 | 22,688 | |||||||||||||||
Gold and silver put options | 135 | — | — | — | — | |||||||||||||||
Concentrate sales contracts | 11 | 693 | — | — | — | |||||||||||||||
$ | 184 | $ | 1,640 | $ | — | $ | 17,650 | $ | 22,688 | |||||||||||
December 31, 2012 | ||||||||||||||||||||
Prepaid | Accrued | Other long- | Current | Non-current | ||||||||||||||||
expenses and | liabilities and | term | portion of | portion of | ||||||||||||||||
other | other | Liabilities | royalty | royalty | ||||||||||||||||
obligation | obligation | |||||||||||||||||||
Foreign exchange contracts, peso | $ | 376 | $ | 300 | $ | — | $ | — | $ | — | ||||||||||
Palmarejo gold production royalty | — | — | — | 41,146 | 103,952 | |||||||||||||||
Gold and silver put options, net | — | 2,025 | 7,274 | — | — | |||||||||||||||
Concentrate sales contracts | 1,030 | 163 | — | — | — | |||||||||||||||
$ | 1,406 | $ | 2,488 | $ | 7,274 | $ | 41,146 | $ | 103,952 | |||||||||||
The following represent mark-to-market gains (losses) on derivative instruments for the years ended December 31, 2013, 2012, and 2011 (in thousands): | ||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||
Financial statement line | Derivative | 2013 | 2012 | 2011 | ||||||||||||||||
Sales of metal | Concentrate sales contracts | $ | (1,995 | ) | $ | 1,682 | $ | 2,505 | ||||||||||||
Production costs applicable to sales | Forward foreign exchange contracts | 589 | (1,621 | ) | 383 | |||||||||||||||
Fair value adjustments, net | Gold lease facility | — | — | (132 | ) | |||||||||||||||
Fair value adjustments, net | Forward foreign exchange contracts | (985 | ) | 3,264 | (3,192 | ) | ||||||||||||||
Fair value adjustments, net | Forward gold contract | — | — | 34 | ||||||||||||||||
Fair value adjustments, net | Silver ounces receivable | — | 213 | (276 | ) | |||||||||||||||
Fair value adjustments, net | Palmarejo gold royalty | 76,200 | (31,053 | ) | (40,046 | ) | ||||||||||||||
Fair value adjustments, net | Put and call options | 7,119 | 4,089 | (8,438 | ) | |||||||||||||||
$ | 80,928 | $ | (23,426 | ) | $ | (49,162 | ) | |||||||||||||
Credit Risk | ||||||||||||||||||||
The credit risk exposure related to any derivative instruments is limited to the unrealized gains, if any, on outstanding contracts based on current market prices. To reduce counter-party credit exposure, the Company enters into contracts with financial institutions management deems credit worthy and limits credit exposure to each. The Company does not anticipate non-performance by any of its counterparties. In addition, to allow for situations where derivative positions may need to be revised, the Company deals only in markets that management considers highly liquid. |
Investment_in_Marketable_Secur
Investment in Marketable Securities | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Investment in Marketable Securities [Abstract] | ' | ||||||||||||||||||||
INVESTMENTS | ' | ||||||||||||||||||||
INVESTMENTS | |||||||||||||||||||||
The Company invests in marketable equity securities of silver and gold exploration and development companies. These investments are classified as available-for-sale and are measured at fair value in the financial statements with unrealized gains and losses recorded in Other comprehensive income (loss). | |||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||
Cost | Gross | Gross | Estimated | ||||||||||||||||||
Unrealized | Unrealized | Fair Value | |||||||||||||||||||
Losses | Gains | ||||||||||||||||||||
Marketable securities | $ | 17,649 | $ | (3,300 | ) | $ | 172 | $ | 14,521 | ||||||||||||
At December 31, 2012 | |||||||||||||||||||||
Cost | Gross | Gross | Estimated | ||||||||||||||||||
Unrealized | Unrealized | Fair Value | |||||||||||||||||||
Losses | Gains | ||||||||||||||||||||
Marketable securities | $ | 34,786 | $ | (10,443 | ) | $ | 2,722 | $ | 27,065 | ||||||||||||
The following table summarizes the gross unrealized losses on investment securities for which other-than-temporary impairments have not been recognized and the fair values of those securities, aggregated by the length of time the individual securities have been in a continuous unrealized loss position, at December 31, 2013 (in thousands): | |||||||||||||||||||||
Less than twelve months | Twelve months or more | Total | |||||||||||||||||||
Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | ||||||||||||||||
Marketable equity securities | $ | (3,300 | ) | $ | 4,146 | $ | — | $ | — | $ | (3,300 | ) | $ | 4,146 | |||||||
In the years ended December 31, 2013 and 2012, the Company recognized a net unrealized loss of $13.9 million and an unrealized loss of $3.4 million, respectively, in Other comprehensive income (loss). The Company performs a quarterly assessment on each of its marketable securities with unrealized losses to determine if the security is other than temporarily impaired. The Company recorded other-than-temporary impairment losses of $18.3 million and $0.6 million for the year ended December 31, 2013 and 2012, respectively. | |||||||||||||||||||||
The Company had $1.0 million of short-term investments at December 31, 2012, primarily certificates of deposit with maturity dates of less than one year. |
Receivables
Receivables | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Receivables [Abstract] | ' | |||||||
RECEIVABLES | ' | |||||||
RECEIVABLES | ||||||||
Receivables consist of the following (in thousands): | ||||||||
December 31, 2013 | 31-Dec-12 | |||||||
Receivables - current | ||||||||
Accounts receivable - trade | $ | 17,303 | $ | 8,701 | ||||
Refundable income tax | 6,240 | 9,331 | ||||||
Refundable value added tax | 49,168 | 40,020 | ||||||
Accounts receivable - other | 8,363 | 4,386 | ||||||
$ | 81,074 | $ | 62,438 | |||||
Receivables - non-current | ||||||||
Refundable value added tax | $ | 36,574 | $ | 48,767 | ||||
Trade receivables and other receivable balances are reported at outstanding principal amounts, net of an allowance for doubtful accounts. Management evaluates the collectability of receivable account balances to determine the allowance, if any. There were no allowances against receivable balances at December 31, 2013 or December 31, 2012. |
Metal_and_Other_Inventory
Metal and Other Inventory | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
METAL AND OTHER INVENTORY | ' | |||||||
METAL AND OTHER INVENTORY | ||||||||
Metal and other inventory consist of the following (in thousands): | ||||||||
December 31, 2013 | 31-Dec-12 | |||||||
Concentrate and doré inventory | $ | 67,105 | $ | 91,130 | ||||
Supplies | 64,918 | 79,540 | ||||||
$ | 132,023 | $ | 170,670 | |||||
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
PROPERTY, PLANT AND EQUIPMENT | ' | |||||||
PROPERTY, PLANT AND EQUIPMENT | ||||||||
Property, plant and equipment consist of the following (in thousands): | ||||||||
December 31, 2013 | 31-Dec-12 | |||||||
Land | $ | 1,764 | $ | 2,010 | ||||
Buildings and improvements | 489,535 | 581,286 | ||||||
Machinery and equipment | 365,783 | 360,199 | ||||||
Capitalized leases for machinery, equipment, buildings, and land | 16,133 | 35,129 | ||||||
873,215 | 978,624 | |||||||
Accumulated amortization | (395,520 | ) | (313,067 | ) | ||||
477,695 | 665,557 | |||||||
Construction in progress | 8,578 | 18,303 | ||||||
$ | 486,273 | $ | 683,860 | |||||
Rent expense for operating lease agreements was $16.7 million, $14.1 million and $14.2 million for the years ended December 31, 2013, 2012 and 2011, respectively. |
Mining_Properties
Mining Properties | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Mining Properties [Abstract] | ' | |||||||||||||||||||||||||||||||
MINING PROPERTIES | ' | |||||||||||||||||||||||||||||||
MINING PROPERTIES | ||||||||||||||||||||||||||||||||
Mining properties consist of the following (in thousands): | ||||||||||||||||||||||||||||||||
December 31, 2013 | Palmarejo | San | Kensington | Rochester | La Preciosa | Joaquin | Coeur Capital | Total | ||||||||||||||||||||||||
Bartolomé | ||||||||||||||||||||||||||||||||
Mining properties | $ | 151,845 | $ | 70,761 | $ | 268,351 | $ | 150,348 | $ | — | $ | — | $ | — | $ | 641,305 | ||||||||||||||||
Accumulated amortization | (110,143 | ) | (22,236 | ) | (80,032 | ) | (103,130 | ) | — | — | — | (315,541 | ) | |||||||||||||||||||
41,702 | 48,525 | 188,319 | 47,218 | — | — | — | 325,764 | |||||||||||||||||||||||||
Mineral interests | 1,146,572 | 26,643 | — | — | 408,352 | 93,429 | 78,133 | 1,753,129 | ||||||||||||||||||||||||
Accumulated amortization | (300,187 | ) | (8,759 | ) | — | — | — | — | (18,446 | ) | (327,392 | ) | ||||||||||||||||||||
846,385 | 17,884 | — | — | 408,352 | 93,429 | 59,687 | 1,425,737 | |||||||||||||||||||||||||
Total mining properties | $ | 888,087 | $ | 66,409 | $ | 188,319 | $ | 47,218 | $ | 408,352 | $ | 93,429 | $ | 59,687 | $ | 1,751,501 | ||||||||||||||||
December 31, 2012 | Palmarejo | San | Kensington | Rochester | Endeavor | Joaquin | Total | |||||||||||||||||||||||||
Bartolomé | ||||||||||||||||||||||||||||||||
Mining properties | $ | 155,722 | $ | 70,322 | $ | 333,619 | $ | 114,973 | $ | — | $ | — | $ | 674,636 | ||||||||||||||||||
Accumulated amortization | (82,037 | ) | (18,439 | ) | (46,649 | ) | (100,437 | ) | — | — | (247,562 | ) | ||||||||||||||||||||
73,685 | 51,883 | 286,970 | 14,536 | — | — | 427,074 | ||||||||||||||||||||||||||
Mineral interests | 1,658,389 | 26,642 | — | — | 44,033 | 93,571 | 1,822,635 | |||||||||||||||||||||||||
Accumulated amortization | (235,795 | ) | (7,338 | ) | — | — | (14,625 | ) | — | (257,758 | ) | |||||||||||||||||||||
1,422,594 | 19,304 | — | — | 29,408 | 93,571 | 1,564,877 | ||||||||||||||||||||||||||
Total mining properties | $ | 1,496,279 | $ | 71,187 | $ | 286,970 | $ | 14,536 | $ | 29,408 | $ | 93,571 | $ | 1,991,951 | ||||||||||||||||||
Palmarejo is located in the State of Chihuahua in northern Mexico, and its principal silver and gold properties are collectively referred to as the “Palmarejo mine.” The Palmarejo mine commenced production in April 2009. | ||||||||||||||||||||||||||||||||
The San Bartolomé mine is a silver mine located near the city of Potosi, Bolivia. The mineral rights for the San Bartolomé project are held through long-term joint venture/lease agreements with several local independent mining co-operatives and the Bolivian state owned mining organization, (“COMIBOL”). The Company commenced commercial production at San Bartolomé in June 2008. | ||||||||||||||||||||||||||||||||
The Kensington mine is an underground gold mine and consists of the Kensington and adjacent Jualin properties located on the east side of the Lynn Canal about 45 miles north-northwest of Juneau, Alaska. The Company commenced commercial production in July of 2010. | ||||||||||||||||||||||||||||||||
The Company has conducted operations at the Rochester mine, located in Western Nevada, since September 1986. The mine utilizes the heap-leaching process to extract both silver and gold from ore mined using open pit methods. Rochester’s primary product is silver with gold produced as a by-product. | ||||||||||||||||||||||||||||||||
On April 16, 2013, the Company completed its acquisition of Orko Silver Corporation (“Orko”), which holds the La Preciosa silver-gold project in Durango, Mexico. Please see Note 10 -- Acquisitions for more information. | ||||||||||||||||||||||||||||||||
The Joaquin project is located in the Santa Cruz province of southern Argentina. The Company commenced exploration of this large property located north of the Company's Martha silver mine in November 2007. Since that time, the Company has defined silver and gold mineralization in two deposits at Joaquin, La Negra and La Morocha, collectively referred to as the "Joaquin Project," and has recently commenced work on detailed drilling and other technical, economic and environmental programs. | ||||||||||||||||||||||||||||||||
The Company's mineral interests held by Coeur Capital primarily consist of the Endeavor silver stream, the royalty interests obtained through the acquisition of Global Royalty Corp., and the Cerro Bayo royalty. In May 2005, CDE Australia Pty Ltd, (“CDE Australia”), a wholly-owned subsidiary of Coeur Capital, acquired the silver production and reserves, up to a maximum 17.7 million payable ounces, contained at the Endeavor mine in Australia, which is owned and operated by Cobar Operations Pty. Limited (“Cobar”), a wholly-owned subsidiary of CBH Resources Ltd. (“CBH”). In March 2006, CDE Australia entered into an amended agreement under which it owns all silver production and reserves up to a total of 20.0 million payable ounces. CDE Australia has received approximately 4.8 million payable ounces to-date and the current ore reserve contains approximately 3.7 million payable ounces based on current metallurgical recovery and current smelter contract terms. | ||||||||||||||||||||||||||||||||
Coeur Capital also holds a tiered royalty on McEwen Mining Inc.’s El Gallo/Magistral mine in Mexico, currently paying a 3.5% NSR, a 1.5% NSR on Dynasty Metals & Mining, Inc.’s Zaruma mine in Ecuador, and a 2.0% NSR on Mandalay Resources Corp.’s Cerro Bayo mine in Chile. Please see Note 10 -- Acquisitions for more information related to the Global Royalty acquisition. |
Debt
Debt | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||
DEBT | ' | |||||||||||||||
DEBT | ||||||||||||||||
The current and non-current portions of long-term debt and capital lease obligations at December 31, 2013 and December 31, 2012 are as follows (in thousands): | ||||||||||||||||
December 31, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
Current | Non-Current | Current | Non-Current | |||||||||||||
3.25% Convertible Senior Notes due 2028 | $ | — | $ | 5,334 | $ | 48,081 | $ | — | ||||||||
7.875% Senior Notes due 2021 | — | 300,000 | — | — | ||||||||||||
Capital lease obligations | 2,505 | 796 | 7,902 | 3,460 | ||||||||||||
$ | 2,505 | $ | 306,130 | $ | 55,983 | $ | 3,460 | |||||||||
Minimum future lease payments under capital and operating leases with terms longer than one year are $8.2 million in 2014, $5.1 million in 2015, $1.6 million in 2016, $0.8 million in 2017, $0.8 million in 2018, and $3.3 million thereafter. | ||||||||||||||||
3.25% Convertible Senior Notes due 2028 | ||||||||||||||||
Per the indenture governing the 3.25% Convertible Senior Notes due 2028 (the “Convertible Notes”), the Company announced on February 13, 2013 that it was offering to repurchase all of its outstanding 3.25% Convertible Senior Notes due 2028. As of February 12, 2013, there was $48.7 million aggregate principal amount of Convertible Notes outstanding. The Company repurchased $43.3 million in aggregate principal amount, leaving a balance of $5.3 million as of December 31, 2013. | ||||||||||||||||
7.875% Senior Notes due 2021 | ||||||||||||||||
On January 29, 2013, the Company completed an offering of $300 million in aggregate principal amount of 7.875% Senior Notes due 2021 (the “Notes”) in a private placement conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The Company commenced an exchange offer for the Notes on September 30, 2013 to exchange the Notes for freely transferable notes containing substantially similar terms, in accordance with the registration rights granted to the holders of the Notes when they were issued. The exchange offer was consummated on November 5, 2013. | ||||||||||||||||
Revolving Credit Facility | ||||||||||||||||
On August 1, 2012, Coeur Alaska, Inc. and Coeur Rochester, Inc. (the “Borrowers”), each a wholly-owned subsidiary of the Company, entered into a Credit Agreement (the “Credit Agreement”) by and among the Company, the Borrowers, the lenders party thereto and Wells Fargo Bank, N.A., as administrative agent. The Credit Agreement provides for a senior secured revolving credit facility (the “Revolving Credit Facility”) in an aggregate principal amount of up to $100.0 million, which principal amount may be increased, subject to receiving additional commitments therefor, by up to $50.0 million. The unused line fee for the twelve months ended December 31, 2013 and 2012, respectively, was $0.6 million and $0.2 million, charged to interest expense. On January 16, 2014, the Company and the Borrowers entered into that certain Amendment No. 1 to Credit Agreement (the “Amendment”) to amend the Credit Agreement. Pursuant to the Amendment, among other things, the pricing of loans and undrawn commitments under the Credit Agreement was modified and certain modifications were made to the financial covenants and negative covenant provisions under the Credit Agreement. | ||||||||||||||||
The term of the Revolving Credit Facility is four years. Amounts may be borrowed under the Revolving Credit Facility to finance working capital and general corporate purposes of the Company and its subsidiaries, including the payment of fees and expenses incurred in connection with the Revolving Credit Facility. The obligations under the Revolving Credit Facility will be secured by substantially all of the assets of the Company and its domestic subsidiaries, including the land, mineral rights and infrastructure at the Kensington and Rochester mines, as well as a pledge of the shares of certain of the Company's subsidiaries. | ||||||||||||||||
Borrowings under the Revolving Credit Facility, as amended by the Amendment, bear interest at a rate selected by the Borrowers equal to either LIBOR plus a margin of 2.25% to 4.00% or an alternate base rate plus a margin of 1.25% to 3.00%, with the margin determined by reference to the Company's ratio of consolidated debt to adjusted EBITDA. | ||||||||||||||||
Voluntary prepayments of the loans and voluntary reductions of the unutilized portion of the commitments under the Revolving Credit Facility are permitted without prepayment premium or penalty, subject to payment of customary LIBOR breakage costs. Amounts so repaid may be re-borrowed subject to customary requirements. | ||||||||||||||||
The Revolving Credit Facility, as amended by the Amendment, contains representations and warranties, events of default and affirmative and negative covenants that are usual and customary, including covenants that, among other things, restrict the ability of the Company and its subsidiaries to incur additional debt, incur or permit liens on assets, make investments and acquisitions, consolidate or merge with any other company, engage in asset sales and make dividends and distributions and share repurchases. The Revolving Credit Facility, as amended by the Amendment, also contains financial covenants that require (i) the ratio of consolidated debt to adjusted EBITDA to be not greater than 3.25 to 1.00 for the quarter ended December 31, 2013 and not greater than 4.75 to 1.00 for any fiscal quarter ending after October 1, 2015 (for quarters ending between January 1, 2014 to September 30, 2015, the ratio of consolidated debt to adjusted EBITDA will not be tested), (ii) the ratio of adjusted EBITDA to interest expense to be not less than 3.00 to 1.00 for fiscal quarters ending between October 1, 2013 and June 30, 2014, after which the ratio may not be less than (a) 2.75 to 1.00 for the quarter ending September 30, 2014, (b) 1.50 to 1.00 for the quarters ended December 31, 2014 and March 31, 2015, (c) 2.00 to 1.00 for the quarter ending June 30, 2015, (d) 2.75 to 1.00 for the quarters ending September 30, 2015 and December 31, 2015 and (e) 3.00 to 1.00 for any quarter ending after January 1, 2016, (iii) the tangible net worth to be not less than the greater of (a) $900 million and (b)(1) for quarters ending between October 1, 2013 and September 30, 2014, 85% of our tangible net worth as of the fiscal year ending December 31, 2013 and (2) for quarters ending thereafter, 85% of the tangible net worth as of December 31 of the previous fiscal year plus 25% of net income, if positive, for the period after December 31 of such previous fiscal year to the date of measurement, or minus any net losses with limits of $50 million on any net losses in any fiscal year, (iv) minimum adjusted EBITDA to be at least $100 million for the most recently ended four fiscal quarter period for quarters ending between January 1, 2014 and September 30, 2014, after which minimum adjusted EBITDA must be at least (a) $50 million for the fiscal quarters ending December 31, 2014 and March 31, 2015, (b) $75 million for the fiscal quarter ending June 30, 2015, (c) $100 million for the fiscal quarters ending September 30, 2015 and December 31, 2015 and (d) $110 million for any fiscal quarter after January 1, 2016, (v) the ratio of consolidated secured debt to adjusted EBITDA, tested quarterly, to be not greater than 1.25 to 1.00, and (vi) the minimum cash balance, tested quarterly, to be not less than $50 million. The Amendment further restricted the Company's ability to pay dividends and make share repurchases for so long as the ratio of consolidated debt to adjusted EBITDA is greater than 3.00 to 1.00. | ||||||||||||||||
The Company was in compliance with all covenants under the Revolving Credit Facility as of December 31, 2013. As of December 31, 2013, no amounts were outstanding under the Revolving Credit Facility. | ||||||||||||||||
Lines of Credit | ||||||||||||||||
At December 31, 2013, Manquiri had two outstanding lines of credit supporting value added tax recoveries in Bolivia. The lines are held with Banco Bisa, $7.0 million bearing interest at 2.75% per annum, and Banco de Crédito, $4.0 million bearing interest at 2.5% per annum. There was no balance outstanding on the two lines of credit at December 31, 2013 and December 31, 2012, respectively. | ||||||||||||||||
Kensington Term Facility | ||||||||||||||||
On August 16, 2012, Coeur Alaska repaid all obligations and indebtedness outstanding under the Coeur Alaska, Inc. Term Facility Agreement, as amended and restated on December 20, 2010, with Credit Suisse AG (the "Kensington Term Facility"), which totaled approximately $68.6 million and resulted in a $1.0 million loss on the debt extinguishment in 2012. Upon payment in full, the Kensington Term Facility was terminated and all of the liens granted under the Kensington Term Facility were released. | ||||||||||||||||
As a condition to the Kensington Term Facility with Credit Suisse, the Company agreed to enter into a gold hedging program which protects a minimum of 243,750 ounces of gold production over the life of the term facility against the risk associated with fluctuations in the market price of gold. This program consists of a series of zero cost collars which consist of a floor price and a ceiling price of gold. Coeur Alaska has transferred these hedge positions to Wells Fargo Bank, N.A., as hedge provider. Call options protecting 97,000 ounces of gold were outstanding at December 31, 2012. The weighted average strike price of the call options was $1,968. Put options protecting 122,000 ounces of gold were outstanding at December 31, 2012. The weighted average strike price of the put options was $968. During the year ended December 31, 2013, the Company unwound the gold hedging program. | ||||||||||||||||
Palmarejo Gold Production Royalty Obligation | ||||||||||||||||
On January 21, 2009, Coeur Mexicana entered into a gold production royalty transaction with Franco-Nevada Corporation under which Franco-Nevada purchased a royalty covering 50% of the life of mine gold to be produced from its Palmarejo silver and gold mine in Mexico. | ||||||||||||||||
The royalty agreement provides for a minimum obligation to be paid monthly on a total of 400,000 ounces of gold, or 4,167 ounces per month over an initial eight year period. Each monthly payment is an amount equal to the greater of 4,167 ounces of gold or 50% of actual gold production multiplied by the excess of the monthly average market price of gold above $400 per ounce, subject to a 1% annual inflation compounding adjustment commencing January 21, 2013. As of December 31, 2013, payments had been made on a total of 259,069 ounces of gold with further payments to be made on an additional 140,931 ounces of gold. After payments have been made on a total of 400,000 ounces of gold, the royalty obligation is payable in the amount of 50% of actual gold production per month multiplied by the excess of the monthly average market price of gold above $400 per ounce, adjusted as described above. Payments under the royalty agreement are to be made in cash or gold bullion. During the years ended December 31, 2013 and 2012, the Company paid $57.0 million and $74.7 million, respectively, in royalty payments to Franco-Nevada Corporation. Payments made during the minimum obligation period will result in a reduction to the remaining minimum obligation. Payments made beyond the minimum obligation period will be recognized in operating expenses. | ||||||||||||||||
The Company used an implicit interest rate of 30.0% to discount the original obligation, based on the fair value of the consideration received projected over the expected future cash flows at inception of the obligation. The discounted obligation is accreted to its expected future value over the expected minimum payment period based on the implicit interest rate. The Company recognized accretion expense for the years ended December 31, 2013, 2012, and 2011 of $17.6 million, $19.1 million, and $22.2 million respectively. As of December 31, 2013 and 2012, the remaining minimum obligation under the royalty agreement was $51.2 million and $61.9 million, respectively. | ||||||||||||||||
Interest Expense | ||||||||||||||||
Interest expense is made up of the following (in thousands): | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
(in thousands) | ||||||||||||||||
3.25% Convertible Senior Notes due 2028 | $ | 466 | $ | 1,581 | $ | 1,581 | ||||||||||
7.875 % Senior Notes due 2021 | 21,853 | — | — | |||||||||||||
Revolving Credit Facility | 612 | 213 | — | |||||||||||||
1.25% Convertible Senior Notes due 2024 (terminated in 2011) | — | — | 1 | |||||||||||||
Senior Term Notes (terminated in 2011) | — | — | 1,381 | |||||||||||||
Kensington Term Facility (terminated in 2012) | — | 2,339 | 4,383 | |||||||||||||
Capital lease obligations | 415 | 997 | 1,620 | |||||||||||||
Other debt obligations | 291 | 881 | 1,379 | |||||||||||||
Accretion of Franco Nevada royalty obligation | 17,641 | 19,139 | 22,230 | |||||||||||||
Amortization of debt issuance costs | 2,143 | 1,146 | 2,050 | |||||||||||||
Accretion of debt discount | 576 | 2,536 | 2,324 | |||||||||||||
Capitalized interest | (2,694 | ) | (2,663 | ) | (2,175 | ) | ||||||||||
Total interest expense, net of capitalized interest | $ | 41,303 | $ | 26,169 | $ | 34,774 | ||||||||||
Supplemental_Guarantor_Informa
Supplemental Guarantor Information | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||
SUPPLEMENTAL GUARANTOR INFORMATION | ' | ||||||||||||||||||||
SUPPLEMENTAL GUARANTOR INFORMATION | |||||||||||||||||||||
The following Condensed Consolidating Financial Statements are presented to satisfy disclosure requirements of Rule 3-10 of Regulation S-X resulting from the guarantees by Coeur Alaska, Inc., Coeur Explorations, Inc., Coeur Rochester, Inc., Coeur South America Corp., and Coeur Capital Inc. (collectively, the “Subsidiary Guarantors”) of the $300 million aggregate principal amount of 7.875% senior notes issued by Coeur on January 29, 2013. The following schedules present Condensed Consolidating Financial Statements of (a) Coeur, the parent company; (b) the Subsidiary Guarantors; and (c) certain wholly owned domestic and foreign subsidiaries of the Company (collectively, the “Non-Guarantor Subsidiaries”). Each of the Subsidiary Guarantors is 100% owned by Coeur, the guarantees are full and unconditional and no other subsidiary of Coeur guaranteed any security issued under the Registration Statement. There are no restrictions on the ability of Coeur to obtain funds from its subsidiaries by dividend or loan. | |||||||||||||||||||||
CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||
YEAR ENDED DECEMBER 31, 2013 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
Sales of metal | $ | — | $ | 268,023 | $ | 477,971 | $ | — | $ | 745,994 | |||||||||||
Production costs applicable to sales | — | (182,444 | ) | (281,219 | ) | — | (463,663 | ) | |||||||||||||
Depreciation, depletion and amortization | (1,066 | ) | (73,802 | ) | (158,011 | ) | — | (232,879 | ) | ||||||||||||
Gross profit | (1,066 | ) | 11,777 | 38,741 | — | 49,452 | |||||||||||||||
COSTS AND EXPENSES | |||||||||||||||||||||
General and administrative | 50,213 | 3,245 | 1,885 | — | 55,343 | ||||||||||||||||
Exploration | 1,602 | 8,920 | 11,838 | — | 22,360 | ||||||||||||||||
Litigation settlement | — | 32,046 | — | — | 32,046 | ||||||||||||||||
Write-downs | — | 130,694 | 642,299 | — | 772,993 | ||||||||||||||||
Pre-development, care, maintenance and other | — | 946 | 10,923 | — | 11,869 | ||||||||||||||||
Total costs and expenses | 51,815 | 175,851 | 666,945 | — | 894,611 | ||||||||||||||||
OPERATING LOSS | (52,881 | ) | (164,074 | ) | (628,204 | ) | — | (845,159 | ) | ||||||||||||
OTHER INCOME AND EXPENSE | |||||||||||||||||||||
Fair value adjustments, net | (1,346 | ) | 7,896 | 76,218 | — | 82,768 | |||||||||||||||
Other than temporary impairment of marketable securities | (18,097 | ) | (211 | ) | — | — | (18,308 | ) | |||||||||||||
Interest income and other, net | 13,408 | (1,539 | ) | 4,602 | (3,148 | ) | 13,323 | ||||||||||||||
Interest expense, net of capitalized interest | (25,652 | ) | (445 | ) | (18,354 | ) | 3,148 | (41,303 | ) | ||||||||||||
Total other income and expense, net | (31,687 | ) | 5,701 | 62,466 | — | 36,480 | |||||||||||||||
Loss before income taxes | (84,568 | ) | (158,373 | ) | (565,738 | ) | — | (808,679 | ) | ||||||||||||
Income tax benefit | 78,332 | (155 | ) | 79,939 | — | 158,116 | |||||||||||||||
Total loss after taxes | (6,236 | ) | (158,528 | ) | (485,799 | ) | — | (650,563 | ) | ||||||||||||
Equity income (loss) in consolidated subsidiaries | (644,327 | ) | (68 | ) | — | 644,395 | — | ||||||||||||||
NET INCOME (LOSS) | $ | (650,563 | ) | $ | (158,596 | ) | $ | (485,799 | ) | $ | 644,395 | $ | (650,563 | ) | |||||||
OTHER COMPREHENSIVE INCOME (LOSS), net of tax: | |||||||||||||||||||||
Unrealized gain (loss) on available for sale securities | (8,489 | ) | (552 | ) | — | 552 | (8,489 | ) | |||||||||||||
Reclassification adjustments for losses included in net income | 11,221 | 211 | — | (211 | ) | 11,221 | |||||||||||||||
Reclassification adjustments for realized loss on sale of marketable securities | 83 | — | — | — | 83 | ||||||||||||||||
Other comprehensive income (loss) | 2,815 | (341 | ) | — | 341 | 2,815 | |||||||||||||||
COMPREHENSIVE INCOME (LOSS) | $ | (647,748 | ) | $ | (158,937 | ) | $ | (485,799 | ) | $ | 644,736 | $ | (647,748 | ) | |||||||
CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||
YEAR ENDED DECEMBER 31, 2012 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
Sales of metal | $ | — | $ | 243,380 | $ | 652,112 | $ | — | $ | 895,492 | |||||||||||
Production costs applicable to sales | — | (159,151 | ) | (295,411 | ) | — | (454,562 | ) | |||||||||||||
Depreciation, depletion and amortization | (521 | ) | (49,750 | ) | (168,586 | ) | — | (218,857 | ) | ||||||||||||
Gross profit | (521 | ) | 34,479 | 188,115 | — | 222,073 | |||||||||||||||
COSTS AND EXPENSES | |||||||||||||||||||||
General and administrative | 30,699 | 1,101 | 1,177 | — | 32,977 | ||||||||||||||||
Exploration | 1,946 | 7,930 | 16,394 | — | 26,270 | ||||||||||||||||
Write-downs | — | — | 5,825 | — | 5,825 | ||||||||||||||||
Pre-development, care, maintenance and other | — | (362 | ) | 1,623 | — | 1,261 | |||||||||||||||
Total costs and expenses | 32,645 | 8,669 | 25,019 | — | 66,333 | ||||||||||||||||
OPERATING INCOME (LOSS) | (33,166 | ) | 25,810 | 163,096 | — | 155,740 | |||||||||||||||
OTHER INCOME AND EXPENSE | |||||||||||||||||||||
Loss on debt extinguishments | — | (1,036 | ) | — | — | (1,036 | ) | ||||||||||||||
Fair value adjustments, net | 3,477 | 4,089 | (31,053 | ) | — | (23,487 | ) | ||||||||||||||
Other than temporary impairment of marketable securities | (605 | ) | — | — | — | (605 | ) | ||||||||||||||
Interest income and other, net | 5,744 | 859 | 13,071 | (4,633 | ) | 15,041 | |||||||||||||||
Interest expense, net of capitalized interest | (4,158 | ) | (2,997 | ) | (23,647 | ) | 4,633 | (26,169 | ) | ||||||||||||
Total other income and expense, net | 4,458 | 915 | (41,629 | ) | — | (36,256 | ) | ||||||||||||||
Income (loss) before income taxes | (28,708 | ) | 26,725 | 121,467 | — | 119,484 | |||||||||||||||
Income tax provision | (3,844 | ) | (2,930 | ) | (64,033 | ) | — | (70,807 | ) | ||||||||||||
Total income (loss) after taxes | (32,552 | ) | 23,795 | 57,434 | — | 48,677 | |||||||||||||||
Equity income (loss) in consolidated subsidiaries | 81,229 | — | — | (81,229 | ) | — | |||||||||||||||
NET INCOME (LOSS) | $ | 48,677 | $ | 23,795 | $ | 57,434 | $ | (81,229 | ) | $ | 48,677 | ||||||||||
OTHER COMPREHENSIVE INCOME (LOSS), net of tax: | |||||||||||||||||||||
Unrealized loss on available for sale securities | (3,351 | ) | — | — | — | (3,351 | ) | ||||||||||||||
Reclassification adjustments for losses included in net income | 605 | — | — | — | 605 | ||||||||||||||||
Other comprehensive loss | (2,746 | ) | — | — | — | (2,746 | ) | ||||||||||||||
COMPREHENSIVE INCOME (LOSS) | $ | 45,931 | $ | 23,795 | $ | 57,434 | $ | (81,229 | ) | $ | 45,931 | ||||||||||
CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||
YEAR ENDED DECEMBER 31, 2011 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
Sales of metal | $ | — | $ | 208,517 | $ | 812,683 | $ | — | $ | 1,021,200 | |||||||||||
Production costs applicable to sales | — | (129,520 | ) | (290,027 | ) | — | (419,547 | ) | |||||||||||||
Depreciation, depletion and amortization | (450 | ) | (38,670 | ) | (185,380 | ) | — | (224,500 | ) | ||||||||||||
Gross profit | (450 | ) | 40,327 | 337,276 | — | 377,153 | |||||||||||||||
COSTS AND EXPENSES | |||||||||||||||||||||
General and administrative | 28,407 | 937 | 2,035 | — | 31,379 | ||||||||||||||||
Exploration | 1,504 | 3,754 | 13,870 | — | 19,128 | ||||||||||||||||
Pre-development, care, maintenance and other | — | 19,311 | 130 | — | 19,441 | ||||||||||||||||
Total costs and expenses | 29,911 | 24,002 | 16,035 | — | 69,948 | ||||||||||||||||
OPERATING INCOME (LOSS) | (30,361 | ) | 16,325 | 321,241 | — | 307,205 | |||||||||||||||
OTHER INCOME AND EXPENSE | |||||||||||||||||||||
Loss on debt extinguishments | (5,526 | ) | — | — | — | (5,526 | ) | ||||||||||||||
Fair value adjustments, net | (3,566 | ) | (8,438 | ) | (40,046 | ) | — | (52,050 | ) | ||||||||||||
Interest income and other, net | 8,871 | 1,170 | (7,372 | ) | (9,279 | ) | (6,610 | ) | |||||||||||||
Interest expense, net of capitalized interest | (6,328 | ) | (4,910 | ) | (32,815 | ) | 9,279 | (34,774 | ) | ||||||||||||
Total other income and expense, net | (6,549 | ) | (12,178 | ) | (80,233 | ) | — | (98,960 | ) | ||||||||||||
Income (loss) before income taxes | (36,910 | ) | 4,147 | 241,008 | — | 208,245 | |||||||||||||||
Income tax provision | (20,904 | ) | (440 | ) | (93,402 | ) | — | (114,746 | ) | ||||||||||||
Total income (loss) after taxes | (57,814 | ) | 3,707 | 147,606 | — | 93,499 | |||||||||||||||
Equity income (loss) in consolidated subsidiaries | 151,313 | — | — | (151,313 | ) | — | |||||||||||||||
NET INCOME (LOSS) | $ | 93,499 | $ | 3,707 | $ | 147,606 | $ | (151,313 | ) | $ | 93,499 | ||||||||||
OTHER COMPREHENSIVE INCOME (LOSS) net of tax: | |||||||||||||||||||||
Unrealized loss on available for sale securities | (4,975 | ) | — | — | — | (4,975 | ) | ||||||||||||||
Reclassification adjustments for losses included in net income | — | — | — | — | — | ||||||||||||||||
Other comprehensive loss | (4,975 | ) | — | — | — | (4,975 | ) | ||||||||||||||
COMPREHENSIVE INCOME (LOSS) | $ | 88,524 | $ | 3,707 | $ | 147,606 | $ | (151,313 | ) | $ | 88,524 | ||||||||||
CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
YEAR ENDED DECEMBER 31, 2013 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||
Cash provided by operating activities | $ | (701,653 | ) | $ | 17,456 | $ | 151,491 | $ | 646,173 | 113,467 | |||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||||||||||
Purchase of short term investments and marketable securities | (2,921 | ) | (66 | ) | (5,065 | ) | — | (8,052 | ) | ||||||||||||
Proceeds from sales and maturities of short term investments | 29,274 | 75 | 5,447 | — | 34,796 | ||||||||||||||||
Capital expenditures | (3,573 | ) | (50,810 | ) | (46,430 | ) | — | (100,813 | ) | ||||||||||||
Acquisitions | (113,214 | ) | (3,684 | ) | — | — | (116,898 | ) | |||||||||||||
Other | 3,266 | 444 | 768 | — | 4,478 | ||||||||||||||||
Investments in consolidated subsidiaries | 642,617 | 68 | 3,488 | (646,173 | ) | — | |||||||||||||||
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 555,449 | (53,973 | ) | (41,792 | ) | (646,173 | ) | (186,489 | ) | ||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from issuance of notes and bank borrowings | 300,000 | — | — | — | 300,000 | ||||||||||||||||
Payments on long-term debt, capital leases, and associated costs | (52,568 | ) | (3,171 | ) | (4,889 | ) | — | (60,628 | ) | ||||||||||||
Payments on gold production royalty | — | — | (57,034 | ) | — | (57,034 | ) | ||||||||||||||
Share repurchases | (27,552 | ) | — | — | — | (27,552 | ) | ||||||||||||||
Net intercompany borrowings (lending) | (22,874 | ) | 40,279 | (17,405 | ) | — | — | ||||||||||||||
Other | (514 | ) | — | — | — | (514 | ) | ||||||||||||||
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 196,492 | 37,108 | (79,328 | ) | — | 154,272 | |||||||||||||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 50,288 | 591 | 30,371 | — | 81,250 | ||||||||||||||||
Cash and cash equivalents at beginning of period | 86,788 | 400 | 38,252 | — | 125,440 | ||||||||||||||||
Cash and cash equivalents at end of period | $ | 137,076 | $ | 991 | $ | 68,623 | $ | — | $ | 206,690 | |||||||||||
CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
YEAR ENDED DECEMBER 31, 2012 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||
Cash provided by operating activities | $ | 58,754 | $ | 37,426 | $ | 256,683 | $ | (81,229 | ) | $ | 271,634 | ||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||||||||||
Purchase of short term investments and marketable securities | (12,913 | ) | (46 | ) | — | — | (12,959 | ) | |||||||||||||
Proceeds from sales and maturities of short term investments | 21,590 | 45 | 60 | — | 21,695 | ||||||||||||||||
Capital expenditures | (1,531 | ) | (48,788 | ) | (65,322 | ) | — | (115,641 | ) | ||||||||||||
Acquisition of Joaquin mineral rights | (29,338 | ) | — | 41 | — | (29,297 | ) | ||||||||||||||
Other | 3,538 | 130 | (581 | ) | — | 3,087 | |||||||||||||||
Investments in consolidated subsidiaries | (81,229 | ) | — | — | 81,229 | — | |||||||||||||||
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (99,883 | ) | (48,659 | ) | (65,802 | ) | 81,229 | (133,115 | ) | ||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Payments on long-term debt, capital leases, and associated costs | (4,005 | ) | (79,839 | ) | (13,326 | ) | — | (97,170 | ) | ||||||||||||
Payments on gold production royalty | — | — | (74,734 | ) | — | (74,734 | ) | ||||||||||||||
Reductions of restricted assets associated with the Kensington Term Facility | — | 4,645 | — | — | 4,645 | ||||||||||||||||
Share repurchases | (19,971 | ) | — | — | — | (19,971 | ) | ||||||||||||||
Net intercompany borrowings (lending) | 67,082 | 86,394 | (153,476 | ) | — | — | |||||||||||||||
Other | (861 | ) | — | — | — | (861 | ) | ||||||||||||||
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 42,245 | 11,200 | (241,536 | ) | — | (188,091 | ) | ||||||||||||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 1,116 | (33 | ) | (50,655 | ) | — | (49,572 | ) | |||||||||||||
Cash and cash equivalents at beginning of period | 85,672 | 433 | 88,907 | — | 175,012 | ||||||||||||||||
Cash and cash equivalents at end of period | $ | 86,788 | $ | 400 | $ | 38,252 | $ | — | $ | 125,440 | |||||||||||
CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
YEAR ENDED DECEMBER 31, 2011 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||
Cash provided by operating activities | $ | 132,318 | $ | 38,152 | $ | 397,016 | $ | (151,313 | ) | $ | 416,173 | ||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||||||||||
Purchase of short term investments and marketable securities | (49,321 | ) | (60 | ) | (120 | ) | — | (49,501 | ) | ||||||||||||
Proceeds from sales and maturities of short term investments | 6,138 | 48 | 60 | — | 6,246 | ||||||||||||||||
Capital expenditures | (567 | ) | (61,288 | ) | (58,133 | ) | — | (119,988 | ) | ||||||||||||
Other | 1,216 | 903 | 163 | — | 2,282 | ||||||||||||||||
Investments in consolidated subsidiaries | (151,313 | ) | — | — | 151,313 | — | |||||||||||||||
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (193,847 | ) | (60,397 | ) | (58,030 | ) | 151,313 | (160,961 | ) | ||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from issuance of notes and bank borrowings | — | 27,500 | — | — | 27,500 | ||||||||||||||||
Payments on long-term debt, capital leases, and associated costs | (37,983 | ) | (30,493 | ) | (17,043 | ) | — | (85,519 | ) | ||||||||||||
Additions to funds held financing | — | (1,326 | ) | — | — | (1,326 | ) | ||||||||||||||
Payments on gold production royalty | — | — | (73,191 | ) | — | (73,191 | ) | ||||||||||||||
Payments on gold lease facility | (13,800 | ) | — | — | — | (13,800 | ) | ||||||||||||||
Net intercompany borrowings (lending) | 163,224 | 26,239 | (189,463 | ) | — | — | |||||||||||||||
Other | 18 | — | — | — | 18 | ||||||||||||||||
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 111,459 | 21,920 | (279,697 | ) | — | (146,318 | ) | ||||||||||||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 49,930 | (325 | ) | 59,289 | — | 108,894 | |||||||||||||||
Cash and cash equivalents at beginning of period | 35,742 | 758 | 29,618 | — | 66,118 | ||||||||||||||||
Cash and cash equivalents at end of period | $ | 85,672 | $ | 433 | $ | 88,907 | $ | — | $ | 175,012 | |||||||||||
CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
ASSETS | |||||||||||||||||||||
CURRENT ASSETS | |||||||||||||||||||||
Cash and cash equivalents | $ | 137,076 | $ | 991 | $ | 68,623 | $ | — | $ | 206,690 | |||||||||||
Investments | — | — | — | — | — | ||||||||||||||||
Receivables | 530 | 19,982 | 60,562 | — | 81,074 | ||||||||||||||||
Ore on leach pad | — | 50,495 | — | — | 50,495 | ||||||||||||||||
Metal and other inventory | — | 35,290 | 96,733 | — | 132,023 | ||||||||||||||||
Deferred tax assets | — | — | 35,008 | — | 35,008 | ||||||||||||||||
Prepaid expenses and other | 4,128 | 5,282 | 16,530 | — | 25,940 | ||||||||||||||||
141,734 | 112,040 | 277,456 | — | 531,230 | |||||||||||||||||
NON-CURRENT ASSETS | |||||||||||||||||||||
Property, plant and equipment, net | 5,980 | 143,118 | 337,175 | — | 486,273 | ||||||||||||||||
Mining properties, net | — | 235,537 | 1,515,964 | — | 1,751,501 | ||||||||||||||||
Ore on leach pad | — | 31,528 | — | — | 31,528 | ||||||||||||||||
Restricted assets | 830 | 50 | 6,134 | — | 7,014 | ||||||||||||||||
Marketable securities | — | 14,521 | — | — | 14,521 | ||||||||||||||||
Receivables | — | — | 36,574 | — | 36,574 | ||||||||||||||||
Debt issuance costs, net | 10,812 | — | — | — | 10,812 | ||||||||||||||||
Deferred tax assets | 955 | — | 234 | — | 1,189 | ||||||||||||||||
Net investment in subsidiaries | 1,242,480 | 46,215 | 1,578,799 | (2,867,494 | ) | — | |||||||||||||||
Other | 53,858 | 14,616 | 320,425 | (373,563 | ) | 15,336 | |||||||||||||||
TOTAL ASSETS | $ | 1,456,649 | $ | 597,625 | $ | 4,072,761 | $ | (3,241,057 | ) | $ | 2,885,978 | ||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
CURRENT LIABILITIES | |||||||||||||||||||||
Accounts payable | $ | 1,963 | $ | 15,864 | $ | 36,020 | $ | — | $ | 53,847 | |||||||||||
Accrued liabilities and other | 1,545 | 950 | 4,348 | — | 6,843 | ||||||||||||||||
Accrued income taxes | 34 | — | 3,085 | — | 3,119 | ||||||||||||||||
Accrued payroll and related benefits | 5,152 | 7,062 | 6,115 | — | 18,329 | ||||||||||||||||
Accrued interest payable | 9,962 | 4 | 1,063 | (1,054 | ) | 9,975 | |||||||||||||||
Debt and capital leases | — | 1,262 | 309,472 | (308,229 | ) | 2,505 | |||||||||||||||
Royalty obligations | — | 3,934 | 44,085 | — | 48,019 | ||||||||||||||||
Reclamation and mine closure | — | — | 794 | 119 | 913 | ||||||||||||||||
Deferred tax liabilities | — | — | 1,011 | — | 1,011 | ||||||||||||||||
18,656 | 29,076 | 405,993 | (309,164 | ) | 144,561 | ||||||||||||||||
NON-CURRENT LIABILITIES | |||||||||||||||||||||
Debt and capital leases | 305,335 | 255 | 64,820 | (64,280 | ) | 306,130 | |||||||||||||||
Royalty obligations | — | 17,696 | 47,446 | — | 65,142 | ||||||||||||||||
Reclamation and mine closure | — | 45,894 | 11,740 | (119 | ) | 57,515 | |||||||||||||||
Deferred tax liabilities | 37,095 | 1,618 | 517,533 | — | 556,246 | ||||||||||||||||
Other long-term liabilities | 2,467 | 544 | 22,806 | — | 25,817 | ||||||||||||||||
Intercompany payable (receivable) | (637,471 | ) | 427,085 | 210,386 | — | — | |||||||||||||||
(292,574 | ) | 493,092 | 874,731 | (64,399 | ) | 1,010,850 | |||||||||||||||
STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
Common stock | 1,028 | 250 | 122,666 | (122,916 | ) | 1,028 | |||||||||||||||
Additional paid-in capital | 2,781,164 | 79,712 | 3,258,037 | (3,337,749 | ) | 2,781,164 | |||||||||||||||
Accumulated deficit | (1,046,719 | ) | 401 | (588,666 | ) | 588,265 | (1,046,719 | ) | |||||||||||||
Accumulated other comprehensive loss | (4,906 | ) | (4,906 | ) | — | 4,906 | (4,906 | ) | |||||||||||||
1,730,567 | 75,457 | 2,792,037 | (2,867,494 | ) | 1,730,567 | ||||||||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 1,456,649 | $ | 597,625 | $ | 4,072,761 | $ | (3,241,057 | ) | $ | 2,885,978 | ||||||||||
CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
ASSETS | |||||||||||||||||||||
CURRENT ASSETS | |||||||||||||||||||||
Cash and cash equivalents | $ | 86,788 | $ | 400 | $ | 38,252 | $ | — | $ | 125,440 | |||||||||||
Investments | 999 | — | — | — | 999 | ||||||||||||||||
Receivables | 8,520 | 7,643 | 46,275 | — | 62,438 | ||||||||||||||||
Ore on leach pad | — | 22,991 | — | — | 22,991 | ||||||||||||||||
Metal and other inventory | — | 45,906 | 124,764 | — | 170,670 | ||||||||||||||||
Deferred tax assets | — | — | 2,458 | — | 2,458 | ||||||||||||||||
Prepaid expenses and other | 3,395 | 5,947 | 11,844 | — | 21,186 | ||||||||||||||||
99,702 | 82,887 | 223,593 | — | 406,182 | |||||||||||||||||
NON-CURRENT ASSETS | |||||||||||||||||||||
Property, plant and equipment, net | 4,183 | 208,857 | 470,820 | — | 683,860 | ||||||||||||||||
Mining properties, net | — | 301,506 | 1,690,445 | — | 1,991,951 | ||||||||||||||||
Ore on leach pad | — | 21,356 | — | — | 21,356 | ||||||||||||||||
Restricted assets | 18,922 | 60 | 5,988 | — | 24,970 | ||||||||||||||||
Marketable securities | 27,065 | — | — | — | 27,065 | ||||||||||||||||
Receivables | — | — | 48,767 | — | 48,767 | ||||||||||||||||
Debt issuance costs, net | 3,713 | — | — | — | 3,713 | ||||||||||||||||
Deferred tax assets | 955 | — | — | — | 955 | ||||||||||||||||
Net investment in subsidiaries | 1,553,434 | — | 1,285,862 | (2,839,296 | ) | — | |||||||||||||||
Other | 39,120 | 12,360 | 318,330 | (357,228 | ) | 12,582 | |||||||||||||||
TOTAL ASSETS | $ | 1,747,094 | $ | 627,026 | $ | 4,043,805 | $ | (3,196,524 | ) | $ | 3,221,401 | ||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
CURRENT LIABILITIES | |||||||||||||||||||||
Accounts payable | $ | 2,954 | $ | 17,211 | $ | 37,317 | $ | — | $ | 57,482 | |||||||||||
Accrued liabilities and other | 1,418 | 4,014 | 4,570 | — | 10,002 | ||||||||||||||||
Accrued income taxes | 257 | — | 26,851 | — | 27,108 | ||||||||||||||||
Accrued payroll and related benefits | 7,477 | 8,158 | 5,671 | — | 21,306 | ||||||||||||||||
Accrued interest payable | 463 | 5 | 1,002 | (992 | ) | 478 | |||||||||||||||
Debt and capital leases | 48,081 | 3,013 | 309,539 | (304,650 | ) | 55,983 | |||||||||||||||
Royalty obligations | — | — | 65,104 | — | 65,104 | ||||||||||||||||
Reclamation and mine closure | — | — | 1,445 | (777 | ) | 668 | |||||||||||||||
Deferred tax liabilities | — | — | 121 | — | 121 | ||||||||||||||||
60,650 | 32,401 | 451,620 | (306,419 | ) | 238,252 | ||||||||||||||||
NON-CURRENT LIABILITIES | |||||||||||||||||||||
Debt and capital leases | — | 1,675 | 53,367 | (51,582 | ) | 3,460 | |||||||||||||||
Royalty obligations | — | — | 141,879 | — | 141,879 | ||||||||||||||||
Reclamation and mine closure | — | 23,149 | 10,744 | 777 | 34,670 | ||||||||||||||||
Deferred tax liabilities | 115,425 | — | 462,063 | — | 577,488 | ||||||||||||||||
Other long-term liabilities | 955 | 8,086 | 18,331 | — | 27,372 | ||||||||||||||||
Intercompany payable (receivable) | (628,216 | ) | 390,480 | 237,736 | — | — | |||||||||||||||
(511,836 | ) | 423,390 | 924,120 | (50,805 | ) | 784,869 | |||||||||||||||
STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
Common stock | 903 | 350 | 22,760 | (23,110 | ) | 903 | |||||||||||||||
Additional paid-in capital | 2,601,254 | 107,734 | 2,748,173 | (2,855,907 | ) | 2,601,254 | |||||||||||||||
Accumulated deficit | (396,156 | ) | 63,151 | (102,868 | ) | 39,717 | (396,156 | ) | |||||||||||||
Accumulated other comprehensive loss | (7,721 | ) | — | — | — | (7,721 | ) | ||||||||||||||
2,198,280 | 171,235 | 2,668,065 | (2,839,300 | ) | 2,198,280 | ||||||||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 1,747,094 | $ | 627,026 | $ | 4,043,805 | $ | (3,196,524 | ) | $ | 3,221,401 | ||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
COMMITMENTS AND CONTINGENCIES | ' |
COMMITMENTS AND CONTINGENCIES | |
Labor Union Contracts | |
The Company maintains a labor agreement in South America with Sindicato de Trabajadores Mineros de la Empresa Minera Manquiri S.A. at the San Bartolomé mine in Bolivia. The San Bartolomé mine labor agreement, which became effective January 28, 2010, does not have a fixed term and is in effect for 2014. As of December 31, 2013, approximately 10.4% of the Company’s worldwide labor force was covered by collective bargaining agreements. We cannot predict whether this agreement will be renewed on similar terms or at all, whether future labor disruptions will occur or, if disruptions do occur, how long they will last. | |
Kensington Production Royalty | |
On July 7, 1995, Coeur, through its wholly owned subsidiary, Coeur Alaska, Inc., acquired the 50% ownership interest of Echo Bay Exploration Inc., or Echo Bay, giving Coeur 100% ownership of the Kensington property. Coeur Alaska is obligated to pay Echo Bay, a subsidiary of Kinross Gold Corporation, a scaled net smelter return royalty on 1.0 million ounces of future gold production after Coeur Alaska recoups the $32.5 million purchase price and its construction and development expenditures incurred after July 7, 1995 in connection with placing the property into commercial production. The royalty ranges from 1% at gold prices of $400 per ounce to a maximum of 2.5% at gold prices above $475 per ounce, with the royalty to be capped at 1.0 million ounces of production. No royalty has been paid to date. | |
Rochester Production Royalties | |
The Company acquired the Rochester property from ASARCO, a subsidiary of Grupo Mexico SA de CV, in 1983. The Company is obligated to pay a net smelter royalty interest to ASARCO when the market price of silver equals or exceeds $23.60 per ounce up to a maximum rate of 5% with the condition that Rochester achieves positive cash flow for the applicable year. If cash flow at Rochester is negative in any calendar year, the maximum royalty payable is $250,000. Royalty (income) expense was ($1.5) million, $3.5 million, and $2.2 million for the years ended December 31, 2013, 2012, and 2011, respectively. | |
Commencing January 1, 2014, Coeur Rochester is obligated to pay a 3.4% net smelter returns royalty on up to 39.4 million silver equivalent ounces produced and sold from a portion of the Rochester mine, payable in cash on a quarterly basis. For each calendar quarter, the royalty will be payable on the actual sales prices received at the time of sale (exclusive of gains or losses associated with trading activities), less refining costs, of gold and silver produced and sold from the applicable portions of the Rochester mine. Payments on the royalty obligation will occur quarterly reducing the carrying amount of the royalty liability and changes in silver and gold prices will result in the recognition of mark-to-market gains or losses in Fair value adjustments, net, in the Consolidated Statement of Comprehensive Income (Loss). | |
Palmarejo Gold Production Royalty | |
On January 21, 2009, Coeur Mexicana entered into a gold production royalty transaction with Franco-Nevada Corporation under which Franco-Nevada purchased a royalty covering 50% of the life of mine gold to be produced from its Palmarejo silver and gold mine in Mexico. The royalty agreement provides for a minimum obligation to be paid monthly on a total of 400,000 ounces of gold, or 4,167 ounces per month over an initial eight-year period. Please see Note 12 -- Derivative Financial Instruments for further discussion on the royalty obligation. | |
Sites Related to Callahan Mining Corporation | |
In 1991, the Company acquired all of the outstanding common stock of Callahan Mining Corporation. The Company has received requests for information or notices of potential liability from state or federal agencies with regard to Callahan's operations at sites in Maine, Colorado and Washington. The Company did not make any decisions with respect to generation, transport or disposal of hazardous waste at these sites. Therefore, the Company believes that it is not liable for any potential cleanup costs either directly as an operator or indirectly as a parent. To date, none of these agencies have made any claims against the Company or Callahan for cleanup costs at these sites. The Company anticipates that further agency interaction may be possible with respect to these sites. | |
Callahan operated a mine and mill in Brooksville, Maine from 1968 until 1972 and subsequently disposed of the property. In 2000, the U.S. Environmental Protection Agency, or EPA, made a formal request to the Company for information regarding the site. The site was placed on the National Priorities List on September 5, 2002, and the Maine Department of Transportation, a partial owner of the property, signed a consent order in 2005. In January 2009, the EPA and the State of Maine made additional formal requests to the Company for information relating to the site, to which the Company responded. The first phase of cleanup at the site began in April 2011. | |
The Van Stone Mine in Stevens County, Washington consists of several parcels of land and was mined from 1926 until 1993 by multiple owners. Callahan sold its parcel in 1990. In February 2010, the State of Washington Department of Ecology notified Callahan that it, among others, is a potentially liable person (PLP) under Washington law. Asarco LLC ("Asarco"), an affiliate of American Smelting and Refining Company, which developed the mill on the site in 1951, settled for $3.5 million. Another potentially liable person, Vaagen Brothers, signed a consent order which allows access to the site for a Remedial Investigation and Feasibility Study. Neither the Company nor Callahan has received any further notices from the Washington Department of Ecology. On June 5, 2012, Asarco filed a lawsuit in the U.S. District Court for the Eastern District of Washington against five named defendants, including Callahan, seeking contribution for the $3.5 million settlement. Callahan filed a response and defense to the lawsuit on December 11, 2012 and does not believe it has any liability to Asarco. The Court has set a trial date for September 22, 2014. On January 23, 2013, the Court entered an Order dismissing one of the five named defendants from the lawsuit as a result of the parties reaching a settlement. | |
Callahan controlled the Akron Mine located in Gunnison County, Colorado under lease and option agreements with several owners from 1937-1960. In December 2003, the United States Forest Service (“USFS”) made a formal request for information to the Company for information regarding the site, to which the Company responded. In February 2007, the USFS made a formal request for information to Callahan for information regarding the site, to which Callahan responded. In April 2013, the USFS made a formal request for information to the Company regarding the site, to which the Company responded on June 10, 2013. In November 2013, the USFS made a formal request for additional information to the Company regarding the site, to which the Company responded on January 21, 2014. | |
Bolivian Temporary Restriction on Mining above 4,400 Meters | |
On October 14, 2009, the Bolivian state-owned mining organization, COMIBOL, announced by resolution that it was temporarily suspending mining activities above the elevation of 4,400 meters above sea level while stability studies of Cerro Rico mountain are undertaken. The Company holds rights to mine above this elevation under valid contracts with COMIBOL as well as under authorized contracts with local mining cooperatives that hold their rights under contract themselves with COMIBOL. The Company temporarily adjusted its mine plan to confine mining activities to the ore deposits below 4,400 meters above sea level and timely notified COMIBOL of the need to lift the restriction. | |
The Cooperative Reserva Fiscal, with which the Company has one of those contracts, subsequently interpreted the COMIBOL resolution and determined that the Huacajchi deposit was not covered by such resolution. In March 2010, the Cooperative Reserva Fiscal notified COMIBOL that, based on its interpretation, it was resuming mining of high grade material above the 4,400 meter level in the Huacajchi deposit. In December 2011, the Cooperative Reserva Fiscal sent a similar notification to COMIBOL with respect to a further area above the 4,400 meter level known as Huacajchi Sur. Based on these notifications and on the absence of any objection from COMIBOL, the Company resumed mining operations at the San Bartolomé mine on the Huacajchi deposit and Huacajchi Sur during 2012. Mining in other areas above the 4,400 meter level continues to be suspended. | |
The partial suspension may reduce production until the Company is able to resume mining above 4,400 meters generally. It is uncertain at this time how long the suspension will remain in place. In addition, it is possible that COMIBOL may decide that the Company's operations at the Huacajchi deposit or Huacajchi Sur are subject to the COMIBOL resolution, which may force the Company to ultimately cease mining at such deposits. If COMIBOL objects to the Company mining at the Huacajchi deposit or Huacajchi Sur or if the other restrictions are not lifted, the Company may need to write down the carrying value of the asset. It is also uncertain if any new mining or investment policies or shifts in political attitude may affect mining in Bolivia. | |
Appeal of Plan of Operations Amendment at Rochester in Nevada | |
The Rochester property is the subject of an administrative appeal filed by Great Basin Resource Watch (“GBRW”) with the Interior Board of Land Appeals (“IBLA”). This appeal challenges the decision of the U.S. Bureau of Land Management (“BLM”) to approve a plan of operations amendment permitting resumed mining in the existing mine pit and construction of a new heap leach pad. GBRW asserts that the National Environmental Policy Act (“NEPA”) required an Environmental Impact Statement for the plan of operations amendment, as opposed to the Environmental Assessment (“EA”) that was prepared. GBRW further alleges that BLM violated the Federal Land Policy & Management Act (“FLPMA”) by failing to avoid unnecessary and undue degradation of public lands. Because GBRW did not seek a stay of BLM's decision, operations are proceeding as approved. Coeur was granted intervenor status in the appeal and is actively participating in its resolution. The BLM and Coeur assert that the EA complies with NEPA and that BLM complied with FLPMA by, among other things, requiring mitigation of any possible future effects on water quality. BLM filed a Supplemental Briefing on March 1, 2012 regarding additional analysis conducted by the BLM further supporting and strengthening BLM and Coeur's positions that the EA complies with NEPA. The Company cannot predict whether this will result in further briefing with the IBLA, when the IBLA will rule on the appeal or what impact, if any, an adverse ruling may have on Rochester's operations. | |
Settlement of Unpatented Mining Claims Dispute at Rochester in Nevada | |
In the second quarter of 2013, Coeur Rochester settled all claims associated with a dispute involving ownership of unpatented mining claims surrounding the Coeur Rochester operation and, in connection therewith, agreed to make a one-time $10.0 million cash payment and granted the 3.4% net smelter returns royalty described above under "Rochester Production Royalties." The above settlement resulted in a $32.0 million charge in the second quarter of 2013. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||||||
Supplemental Cash Flow Information | ' | |||||||||||
SUPPLEMENTAL CASH FLOW INFORMATION | ||||||||||||
The following table sets forth non-cash financing and investing activities and other cash flow information for the years ended: | ||||||||||||
Year Ended December 31, | ||||||||||||
Non-cash financing and investing activities: | 2013 | 2012 | 2011 | |||||||||
Capital expenditures(1) | $ | 1,183 | $ | 3,402 | $ | 2,936 | ||||||
Capital lease obligations | — | 1,857 | 4,510 | |||||||||
Non-cash capitalized interest | 2,694 | 845 | 681 | |||||||||
Non-cash acquisitions and related deferred taxes | 317,826 | 64,133 | — | |||||||||
Other cash flow information: | ||||||||||||
Interest paid | 14,139 | 6,092 | 11,033 | |||||||||
Capitalized interest | 2,694 | 2,663 | 2,175 | |||||||||
Income taxes paid | 26,585 | 54,680 | 44,396 | |||||||||
-1 | Accrued capital expenditures are recognized in the consolidated statements of cash flows in the period in which they are paid. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
SUBSEQUENT EVENTS | |
Shelf Registration | |
In January 2014, the Company filed with the Securities and Exchange Commission a shelf registration statement on Form S-3 which enables it to issue an indeterminate number or amount of common stock, preferred stock, debt securities, guarantees of debt securities and warrants from time to time at indeterminate prices. |
Summary_of_Quarterly_Financial
Summary of Quarterly Financial Data (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||
SUMMARY OF QUARTERLY FINANCIAL DATA (UNAUDITED) | ' | |||||||||||||||
UMMARY OF QUARTERLY FINANCIAL DATA (UNAUDITED) | ||||||||||||||||
The following table sets forth a summary of the unaudited quarterly results of operations for the years ended December 31, 2013 and 2012 (in thousands, except per share data): | ||||||||||||||||
Q1 | Q2 | Q3 | Q4 | |||||||||||||
2013 | ||||||||||||||||
Sales of metals | $ | 171,797 | $ | 204,525 | $ | 200,825 | $ | 168,847 | ||||||||
Net income (loss) | 12,270 | (35,040 | ) | (46,265 | ) | (581,528 | ) | |||||||||
Amortization | 50,436 | 57,653 | 60,874 | 63,916 | ||||||||||||
Production costs | 88,784 | 142,924 | 131,728 | 100,227 | ||||||||||||
Exploration expenses | 6,841 | 6,774 | 3,305 | 5,440 | ||||||||||||
Other operating expenses (general and administrative, pre-development, and write-downs) | 14,831 | 48,131 | 20,195 | 789,094 | ||||||||||||
Cash provided by operating activities | 12,934 | 63,338 | 26,804 | 10,391 | ||||||||||||
Capital expenditures | 12,827 | 27,201 | 32,726 | 28,059 | ||||||||||||
Basic net income (loss) per share | $ | 0.14 | $ | (0.35 | ) | $ | (0.46 | ) | $ | (5.77 | ) | |||||
Diluted net income (loss) per share | $ | 0.14 | $ | (0.35 | ) | $ | (0.46 | ) | $ | (5.77 | ) | |||||
Q1 | Q2 | Q3 | Q4 | |||||||||||||
2012 | ||||||||||||||||
Sales of metals | $ | 204,564 | $ | 254,406 | $ | 230,593 | $ | 205,929 | ||||||||
Net income (loss) | 3,975 | 22,973 | (15,821 | ) | 37,550 | |||||||||||
Amortization | 52,592 | 61,024 | 52,844 | 52,397 | ||||||||||||
Production costs | 92,542 | 131,182 | 124,365 | 106,473 | ||||||||||||
Exploration expenses | 6,567 | 6,305 | 6,957 | 6,441 | ||||||||||||
Other operating expenses | 8,664 | 13,680 | 11,836 | 5,883 | ||||||||||||
Cash provided by operating activities | 17,002 | 113,203 | 79,735 | 61,694 | ||||||||||||
Capital expenditures | 31,647 | 32,238 | 29,972 | 21,784 | ||||||||||||
Basic net income (loss) per share | $ | 0.04 | $ | 0.26 | $ | (0.18 | ) | $ | 0.42 | |||||||
Diluted net income (loss) per share | $ | 0.04 | $ | 0.26 | $ | (0.18 | ) | $ | 0.42 | |||||||
Recovered_Sheet1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Principles of Consolidation | ' |
Principles of Consolidation | |
The consolidated financial statements include the wholly-owned subsidiaries of the Company, the most significant of which are Empresa Minera Manquiri S.A., Coeur Mexicana S.A. de C.V., Coeur Rochester, Inc., Coeur Alaska, Inc., and Coeur Capital. All significant intercompany balances and transactions have been eliminated. The Company's investments in entities in which it has less than 20% ownership interest are accounted for using the cost method. | |
Revenue Recognition | ' |
Revenue Recognition | |
Revenue is recognized, net of treatment and refining charges, when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable, no obligations remain and collection is probable. | |
Under the Company’s concentrate sales contracts with third-party smelters, gold and silver prices are set on a specified future quotational period, typically one to three months, after the shipment date based on market prices. Revenues and production costs applicable to sales are recorded on a gross basis under these contracts at the time title passes to the buyer based on the forward price for the expected settlement period. The contracts, in general, provide for provisional payment based upon provisional assays and forward metal prices. Final settlement is based on the average applicable price for the specified future quotational period and generally occurs from three to six months after shipment. The Company’s provisionally priced sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of concentrates measured at the forward price at the time of sale. The embedded derivative does not qualify for hedge accounting and is adjusted to fair value through revenue each period until the date of final gold and silver settlement. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
Cash and cash equivalents include all highly-liquid investments with an original maturity of three months or less. The Company minimizes its credit risk by investing its cash and cash equivalents with major U.S. and international banks and financial institutions located principally in the United States with a minimum credit rating of A1, as defined by Standard & Poor’s. The Company’s management believes that no concentration of credit risk exists with respect to the investment of its cash and cash equivalents. | |
Receivables | ' |
Receivables | |
Trade receivables and other receivable balances are reported at outstanding principal amounts, net of an allowance for doubtful accounts, if deemed necessary. Management evaluates the collectability of receivable account balances to determine the allowance, if any. Management considers the other party's credit risk and financial condition, as well as current and projected economic and market conditions, in determining the amount of the allowance. Receivable balances are written off when management determines that the balance is uncollectible. | |
Ore on Leach Pad | ' |
Ore on Leach Pads | |
The heap leach process extracts silver and gold by placing ore on an impermeable pad and applying a diluted cyanide solution that dissolves a portion of the contained silver and gold, which are then recovered in metallurgical processes. | |
The Company uses several integrated steps to scientifically measure the metal content of ore placed on the leach pads. As the ore body is drilled in preparation for the blasting process, samples are taken of the drill residue which are assayed to determine estimated quantities of contained metal. The Company estimates the quantity of ore by utilizing global positioning satellite survey techniques. The Company then processes the ore through crushing facilities where the output is again weighed and sampled for assaying. A metallurgical reconciliation with the data collected from the mining operation is completed with appropriate adjustments made to previous estimates. The crushed ore is then transported to the leach pad for application of the leaching solution. As the leach solution is collected from the leach pads, it is continuously sampled for assaying. The quantity of leach solution is measured by flow meters throughout the leaching and precipitation process. After precipitation, the product is converted to doré, which is the final product produced by the mine. The inventory is stated at lower of cost or market, with cost being determined using a weighted average cost method. | |
The Company reported ore on the leach pads of $82.0 million as of December 31, 2013, and $44.3 million as of December 31, 2012. As of December 31, 2013, $50.5 million is reported as a current asset and $31.5 million is reported as a non-current asset. As of December 31, 2012, $23.0 million is reported as a current asset and $21.4 million is reported as a non-current asset. The historical cost of the metal that is expected to be extracted within twelve months is classified as current and the historical cost of metals contained within the broken ore that is expected to be extracted beyond twelve months is classified as non-current. Ore on leach pad is valued based on actual production costs incurred to produce and place ore on the leach pad, less costs allocated to minerals recovered through the leach process. | |
The estimate of both the ultimate recovery expected over time and the quantity of metal that may be extracted relative to the time the leach process occurs requires the use of estimates, which are inherently inaccurate due to the nature of the leaching process. The quantities of metal contained in the ore are based upon actual weights and assay analysis. The rate at which the leach process extracts gold and silver from the crushed ore is based upon laboratory column tests and actual experience occurring over more than twenty years of leach pad operations at the Rochester mine. The assumptions used by the Company to measure metal content during each stage of the inventory conversion process includes estimated recovery rates based on laboratory testing and assaying. The Company periodically reviews its estimates compared to actual experience and revises its estimates when appropriate. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis. | |
Metal and Other Inventory | ' |
Metal and Other Inventory | |
Inventories include concentrate, doré, and operating materials and supplies. The classification of inventory is determined by the stage at which the ore is in the production process. All inventories are stated at the lower of cost or market, with cost being determined using a weighted average cost method. Concentrate and doré inventory includes product at the mine site and product held by refineries. Concentrate inventories associated with the Endeavor mine are held by third parties. Metal inventory costs include direct labor, materials, depreciation, depletion and amortization as well as overhead costs relating to mining activities. | |
Property, Plant, and Equipment | ' |
Property, Plant, and Equipment | |
Expenditures for new facilities, assets acquired pursuant to capital leases, new assets or expenditures that extend the useful lives of existing facilities are capitalized and depreciated using the straight-line method at rates sufficient to depreciate such costs over the shorter of estimated productive lives of such facilities, lease term, or the useful life of the individual assets. Productive lives range from 7 to 31 years for buildings and improvements and 3 to 13 years for machinery and equipment. Certain mining equipment is depreciated using the units-of-production method based upon estimated total proven and probable reserves. | |
Operational Mining Properties and Mine Development | ' |
Mining Properties and Mine Development | |
Capitalization of mine development costs begins once all operating permits have been secured, mineralization is classified as proven and probable reserves and a final feasibility study has been completed. Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Pre-development expense. Mine development costs are amortized using the units of production method over the estimated life of the ore body based on recoverable ounces to be mined from proven and probable reserves. Interest expense allocable to the cost of developing mining properties and to construct new facilities is capitalized until assets are ready for their intended use. | |
Drilling and related costs incurred at the Company’s operating mines are expensed as incurred as exploration expense, unless the Company can conclude with a high degree of confidence, prior to the commencement of a drilling program, that the drilling costs will result in the conversion of a mineral resource into proven and probable reserves. The Company’s assessment is based on the following factors: results from previous drill programs; results from geological models; results from a mine scoping study confirming economic viability of the resource; and preliminary estimates of mine inventory, ore grade, cash flow and mine life. In addition, the Company must have all permitting and/or contractual requirements necessary to have the right to and/or control of the future benefit from the targeted ore body. The costs of a drilling program that meet these criteria are capitalized as mine development costs. Drilling and related costs of approximately $11.6 million and $13.9 million at December 31, 2013 and 2012, respectively, were capitalized. | |
The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in production costs applicable to sales in the same period as the revenue from the sale of inventory. | |
Mineral Interests | ' |
Mineral Interests | |
Significant payments related to the acquisition of land and mineral rights are capitalized. Prior to acquiring such land or mineral rights, the Company generally makes a preliminary evaluation to determine that the property has significant potential to develop an economic ore body. The time between initial acquisition and full evaluation of a property’s potential is variable and is determined by many factors including: location relative to existing infrastructure, the property’s stage of development, geological controls and metal prices. If a mineable ore body is discovered, such costs are amortized when production begins using the units-of-production method based on recoverable ounces to be mined from proven and probable reserves. If no mineable ore body is discovered, such costs are expensed in the period in which it is determined the property has no future economic value. | |
Asset Impairment | ' |
Asset Impairment | |
Management reviews and evaluates its long-lived assets for impairment when events and changes in circumstances indicate that the related carrying amounts of its assets may not be recoverable. Impairment is considered to exist if the total probability-weighted estimate or other appropriate estimate of future cash flows on an undiscounted basis are less than the carrying amount of the asset group, including property plant and equipment, mineral property, development property, and any deferred costs. An impairment loss is measured and recorded based on the difference between book value and estimated fair value of the asset group. Future cash flows include estimates of recoverable ounces, gold and silver prices (considering current and historical prices, price trends and related factors), production levels and required capital investment, all based on life-of-mine plans and projections. Assumptions underlying future cash flow estimates are subject to risks and uncertainties. Any differences between these assumptions and actual market conditions or the Company’s actual operating performance could have a material effect on the Company’s determination of its ability to recover the carrying amounts of its long-lived assets resulting in impairment charges. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of cash flows from other asset groups. Generally, in estimating future cash flows, all assets are grouped at a particular mine for which there is identifiable cash flow. | |
Restricted Assets | ' |
Restricted Assets | |
The Company, under the terms of its self-insurance and bonding agreements with certain banks, lending institutions and regulatory agencies, is required to collateralize certain portions of its obligations. The Company has collateralized these obligations by assigning certificates of deposit that have maturity dates ranging from three months to a year, to the respective institutions or agencies. At December 31, 2013 and 2012, the Company held certificates of deposit and cash under these agreements of $7.0 million and $25.0 million, respectively, restricted for these purposes. The ultimate timing of the release of the collateralized amounts is dependent on the timing and closure of each mine and repayment of the facility. In order to release the collateral, the Company must seek approval from certain government agencies responsible for monitoring the mine closure status. Collateral could also be released to the extent the Company is able to secure alternative financial assurance satisfactory to the regulatory agencies. The Company believes there is a reasonable probability that the collateral will remain in place beyond a twelve-month period and has therefore classified these investments as long-term. | |
Reclamation and Remediation Costs | ' |
Reclamation and Remediation Costs | |
The Company recognizes obligations for the expected future retirement of tangible long-lived assets and other associated asset retirement costs. The fair value of a liability for an asset retirement obligation will be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. The fair value of the liability is added to the carrying amount of the associated asset and this additional carrying amount is depreciated over the life of the asset. An accretion cost, representing the increase over time in the present value of the liability, is recorded each period in Amortization expense. As reclamation work is performed or liabilities are otherwise settled, the recorded amount of the liability is reduced. | |
Future remediation costs for inactive mines are accrued based on management’s best estimate at the end of each period of the undiscounted costs expected to be incurred at the site. Such cost estimates include, where applicable, ongoing care and maintenance and monitoring costs. Changes in estimates are reflected prospectively in the period an estimate is revised. | |
Foreign Currency | ' |
Foreign Currency | |
The assets and liabilities of the Company’s foreign subsidiaries are measured using U.S. dollars as their functional currency. Revenues and expenses are translated at the average exchange rate for the period. Foreign currency transaction gains and losses are included in the determination of net income or loss. | |
Derivative Financial Instruments | ' |
Derivative Financial Instruments | |
The Company recognizes all derivatives as either assets or liabilities on the balance sheet and measures those instruments at fair value. Changes in the value of derivative instruments are recorded each period in the Consolidated Statement of Comprehensive Income (Loss) in Fair value adjustments, net. Management applies judgment in estimating the fair value of instruments that are highly sensitive to assumptions regarding commodity prices, market volatilities, and foreign currency exchange rates. | |
Stock-based Compensation Plans | ' |
Stock-based Compensation Plans | |
The Company estimates the fair value of stock options and stock appreciation rights (“SARs”) awards using the Black-Scholes option pricing model. Stock options granted are accounted for as equity-based awards and SARs are accounted for as liability-based awards. The value of the SARs is remeasured at each reporting date. The Company estimates the fair value of performance share and performance unit grants using a Monte Carlo simulation valuation model. Performance shares granted are accounted for as equity based awards and performance shares units are accounted for as liability-based awards. The Company estimates forfeitures of stock-based awards based on historical data and periodically adjusts the forfeiture rate. The adjustment of the forfeiture rate is recorded as a cumulative adjustment in the period the forfeiture estimate is changed. Compensation costs related to stock based compensation are included in General and administrative expenses, Production costs applicable to sales and the cost of self-constructed property, plant and equipment as deemed appropriate. | |
Restricted stock and restricted stock units granted under the Company’s incentive plans are accounted for based on the market value of the underlying shares on the date of grant and vest in equal installments annually over three years. Restricted stock awards are accounted for as equity-based awards and restricted stock unit awards are accounted for as liability-based awards. Restricted stock units are remeasured at each reporting date. Restricted stock units are settled in cash based on the number of vested restricted stock units multiplied by the current market price of the common shares when vested. Holders of the restricted stock are entitled to vote the shares and to receive any dividends declared on the shares. | |
Income Taxes | ' |
Income Taxes | |
The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carryforwards, using enacted tax rates in effect in the years in which the differences are expected to reverse. | |
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of its deferred tax assets will not be realized. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. A valuation allowance has been provided for the portion of the Company’s net deferred tax assets for which it is more likely than not that they will not be realized. | |
Use of Estimates | ' |
Recent Accounting Standards | |
On January 1, 2013, the Company adopted ASU 2011-11, "Balance Sheet (Topic 201): Disclosures about Offsetting Assets and Liabilities." This ASU adds certain additional disclosure requirements about financial instruments and derivative instruments that are subject to netting arrangements. The adoption of ASU 2011-11 had no effect on the Company's financial position, results of operations or cash flows. | |
On January 1, 2013, the Company adopted ASU 2013-02, "Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income." The new standard requires either in a single note or parenthetically on the face of the financial statements: (i) the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and (ii) the income statement line items affected by the reclassification. The adoption of ASU 2013-02 had no effect on the Company's financial position, results of operations or cash flows. | |
In July 2013, the FASB issued ASU 2013-11, "Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists." The updated guidance requires an entity to net its unrecognized tax benefits against the deferred tax assets for all same jurisdiction net operating loss carryforwards, a similar tax loss, or tax credit carryforwards. A gross presentation will be required only if such carryforwards are not available or would not be used by the entity to settle any additional income taxes resulting from disallowance of the uncertain tax provision. The update is effective prospectively for the Company's fiscal year beginning January 1, 2014. |
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Financial information relating to the reporting segments | ' | |||||||||||||||||||||||||||||||||||
Financial information relating to the Company’s segments is as follows (in thousands): | ||||||||||||||||||||||||||||||||||||
Year ended December 31, 2013 | Palmarejo | San Bartolomé | Kensington | Rochester | Martha | La Preciosa | Coeur Capital | Other | Total | |||||||||||||||||||||||||||
Mine | Mine | Mine | Mine | Mine | ||||||||||||||||||||||||||||||||
Sales of metals | $ | 324,040 | $ | 141,721 | $ | 148,769 | $ | 119,254 | $ | (661 | ) | $ | — | $ | 12,871 | $ | — | $ | 745,994 | |||||||||||||||||
Production costs applicable to sales | (188,572 | ) | (86,827 | ) | (104,575 | ) | (77,869 | ) | — | — | (5,818 | ) | (2 | ) | (463,663 | ) | ||||||||||||||||||||
Amortization | (134,240 | ) | (19,565 | ) | (63,216 | ) | (10,571 | ) | (438 | ) | (24 | ) | (3,755 | ) | (1,070 | ) | (232,879 | ) | ||||||||||||||||||
Gross profit (loss) | 1,228 | 35,329 | (19,022 | ) | 30,814 | (1,099 | ) | (24 | ) | 3,298 | (1,072 | ) | 49,452 | |||||||||||||||||||||||
Exploration expense | 7,161 | 111 | 4,199 | 2,653 | 4,485 | 80 | 2,069 | 1,602 | 22,360 | |||||||||||||||||||||||||||
Write-downs | 642,094 | — | 130,694 | — | — | — | — | 205 | 772,993 | |||||||||||||||||||||||||||
Other operating expenses | — | 5,743 | 269 | 34,584 | 2,650 | 3,237 | 1,397 | 51,378 | 99,258 | |||||||||||||||||||||||||||
OPERATING INCOME (LOSS) | (648,027 | ) | 29,475 | (154,184 | ) | (6,423 | ) | (8,234 | ) | (3,341 | ) | (168 | ) | (54,257 | ) | (845,159 | ) | |||||||||||||||||||
Interest and other income, net | 906 | 2,582 | (187 | ) | (318 | ) | 865 | 15 | (19,474 | ) | 10,626 | (4,985 | ) | |||||||||||||||||||||||
Interest expense, net | (15,123 | ) | (74 | ) | (424 | ) | (20 | ) | (1 | ) | — | — | (25,661 | ) | (41,303 | ) | ||||||||||||||||||||
Fair value adjustments, net | 76,218 | — | 7,480 | 416 | — | — | — | (1,346 | ) | 82,768 | ||||||||||||||||||||||||||
Income tax (provision) benefit | 107,748 | (10,938 | ) | (1 | ) | (2,332 | ) | (137 | ) | (20,856 | ) | 2,179 | 82,453 | 158,116 | ||||||||||||||||||||||
Net income (loss) | $ | (478,278 | ) | $ | 21,045 | $ | (147,316 | ) | $ | (8,677 | ) | $ | (7,507 | ) | $ | (24,182 | ) | $ | (17,463 | ) | $ | 11,815 | $ | (650,563 | ) | |||||||||||
Segment assets(1) | $ | 1,164,852 | $ | 289,272 | $ | 343,144 | $ | 176,789 | $ | 6,168 | $ | 410,335 | $ | 62,678 | $ | 105,581 | $ | 2,558,819 | ||||||||||||||||||
Capital expenditures | $ | 33,730 | $ | 11,568 | $ | 21,404 | $ | 29,406 | $ | 10 | $ | 1,122 | $ | — | $ | 3,573 | $ | 100,813 | ||||||||||||||||||
(1) Segment assets consist of receivables, prepaids, inventories, property, plant and equipment, and mining properties | ||||||||||||||||||||||||||||||||||||
Year ended December 31, 2012 | Palmarejo | San Bartolomé | Kensington | Rochester | Martha | Coeur Capital | Other | Total | ||||||||||||||||||||||||||||
Mine | Mine | Mine | Mine | Mine | ||||||||||||||||||||||||||||||||
Sales of metals | $ | 442,098 | $ | 178,005 | $ | 110,987 | $ | 132,392 | $ | 13,162 | $ | 18,848 | $ | — | $ | 895,492 | ||||||||||||||||||||
Production costs applicable to sales | (197,478 | ) | (71,428 | ) | (87,089 | ) | (72,061 | ) | (17,682 | ) | (8,824 | ) | — | (454,562 | ) | |||||||||||||||||||||
Amortization | (146,595 | ) | (16,709 | ) | (41,645 | ) | (8,065 | ) | (692 | ) | (4,632 | ) | (519 | ) | (218,857 | ) | ||||||||||||||||||||
Gross profit (loss) | 98,025 | 89,868 | (17,747 | ) | 52,266 | (5,212 | ) | 5,392 | (519 | ) | 222,073 | |||||||||||||||||||||||||
Exploration expense | 7,575 | 159 | 3,283 | 3,591 | 8,648 | 1,056 | 1,958 | 26,270 | ||||||||||||||||||||||||||||
Write-downs | — | — | — | — | 5,825 | — | — | 5,825 | ||||||||||||||||||||||||||||
Other operating expenses | 11 | 80 | 74 | 1,401 | 2,108 | (736 | ) | 31,300 | 34,238 | |||||||||||||||||||||||||||
OPERATING INCOME (LOSS) | 90,439 | 89,629 | (21,104 | ) | 47,274 | (21,793 | ) | 5,072 | (33,777 | ) | 155,740 | |||||||||||||||||||||||||
Interest and other income, net | 4,017 | 9,719 | (77 | ) | 358 | (1,153 | ) | (77 | ) | 1,649 | 14,436 | |||||||||||||||||||||||||
Interest expense, net | (18,938 | ) | (72 | ) | (2,972 | ) | (26 | ) | (3 | ) | — | (4,158 | ) | (26,169 | ) | |||||||||||||||||||||
Loss on debt extinguishment | — | — | (1,036 | ) | — | — | — | — | (1,036 | ) | ||||||||||||||||||||||||||
Fair value adjustments, net | (31,054 | ) | — | 4,089 | — | — | — | 3,478 | (23,487 | ) | ||||||||||||||||||||||||||
Income tax (provision) benefit | (18,066 | ) | (44,632 | ) | — | (2,195 | ) | 976 | (327 | ) | (6,563 | ) | (70,807 | ) | ||||||||||||||||||||||
Net income (loss) | $ | 26,398 | $ | 54,644 | $ | (21,100 | ) | $ | 45,411 | $ | (21,973 | ) | $ | 4,668 | $ | (39,371 | ) | $ | 48,677 | |||||||||||||||||
Segment assets(1) | $ | 1,905,269 | $ | 302,922 | $ | 508,658 | $ | 104,373 | $ | 9,813 | $ | 32,656 | $ | 110,365 | $ | 2,974,056 | ||||||||||||||||||||
Capital expenditures | $ | 38,456 | $ | 25,672 | $ | 36,994 | $ | 11,794 | $ | 1,193 | $ | — | $ | 1,532 | $ | 115,641 | ||||||||||||||||||||
(1) Segment assets consist of receivables, prepaids, inventories, property, plant and equipment, and mining properties | ||||||||||||||||||||||||||||||||||||
Year ended December 31, 2011 | Palmarejo | San Bartolomé | Kensington | Rochester | Martha | Coeur Capital | Other | Total | ||||||||||||||||||||||||||||
Mine | Mine | Mine | Mine | Mine | ||||||||||||||||||||||||||||||||
Sales of metals | $ | 513,097 | $ | 267,502 | $ | 151,186 | $ | 57,331 | $ | 13,347 | $ | 18,737 | $ | — | $ | 1,021,200 | ||||||||||||||||||||
Production costs applicable to sales | (186,201 | ) | (79,679 | ) | (101,672 | ) | (27,848 | ) | (15,513 | ) | (8,634 | ) | — | (419,547 | ) | |||||||||||||||||||||
Amortization | (159,264 | ) | (22,410 | ) | (35,839 | ) | (2,824 | ) | (556 | ) | (3,155 | ) | (452 | ) | (224,500 | ) | ||||||||||||||||||||
Gross profit (loss) | 167,632 | 165,413 | 13,675 | 26,659 | (2,722 | ) | 6,948 | (452 | ) | 377,153 | ||||||||||||||||||||||||||
Exploration expense | 6,863 | 248 | 1,102 | 1,989 | 6,367 | 662 | 1,897 | 19,128 | ||||||||||||||||||||||||||||
Other operating expenses | 949 | 342 | 317 | 19,931 | 156 | (1 | ) | 29,126 | 50,820 | |||||||||||||||||||||||||||
OPERATING INCOME (LOSS) | 159,820 | 164,823 | 12,256 | 4,739 | (9,245 | ) | 6,287 | (31,475 | ) | 307,205 | ||||||||||||||||||||||||||
Interest and other income, net | (9,099 | ) | 156 | 4 | 57 | (544 | ) | 1,108 | 1,708 | (6,610 | ) | |||||||||||||||||||||||||
Interest expense, net | (23,453 | ) | (45 | ) | (4,889 | ) | (21 | ) | (458 | ) | — | (5,908 | ) | (34,774 | ) | |||||||||||||||||||||
Loss on debt extinguishment | — | — | — | — | — | — | (5,526 | ) | (5,526 | ) | ||||||||||||||||||||||||||
Fair value adjustments, net | (40,046 | ) | — | (8,438 | ) | — | — | — | (3,566 | ) | (52,050 | ) | ||||||||||||||||||||||||
Income tax (provision) benefit | (28,023 | ) | (59,867 | ) | (31 | ) | (409 | ) | (1,219 | ) | — | (25,197 | ) | (114,746 | ) | |||||||||||||||||||||
Net income (loss) | $ | 59,199 | $ | 105,067 | $ | (1,098 | ) | $ | 4,366 | $ | (11,466 | ) | $ | 7,395 | $ | (69,964 | ) | $ | 93,499 | |||||||||||||||||
Segment assets(1) | $ | 2,029,769 | $ | 276,423 | $ | 507,891 | $ | 76,852 | $ | 19,717 | $ | 36,349 | $ | 16,129 | $ | 2,963,130 | ||||||||||||||||||||
Capital expenditures | $ | 36,976 | $ | 17,731 | $ | 34,013 | $ | 27,217 | $ | 3,426 | $ | 59 | $ | 566 | $ | 119,988 | ||||||||||||||||||||
(1) Segment assets consist of receivables, prepaids, inventories, property, plant and equipment, and mining properties | ||||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||
Total assets for reportable segments | $ | 2,558,819 | $ | 2,974,056 | $ | 2,963,130 | ||||||||||||||||||||||||||||||
Cash and cash equivalents | 206,690 | 125,440 | 175,012 | |||||||||||||||||||||||||||||||||
Short term investments | — | 999 | 20,254 | |||||||||||||||||||||||||||||||||
Other assets | 120,469 | 120,906 | 106,045 | |||||||||||||||||||||||||||||||||
Total consolidated assets | $ | 2,885,978 | $ | 3,221,401 | $ | 3,264,441 | ||||||||||||||||||||||||||||||
Consolidated Assets | ' | |||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||
Total assets for reportable segments | $ | 2,558,819 | $ | 2,974,056 | $ | 2,963,130 | ||||||||||||||||||||||||||||||
Cash and cash equivalents | 206,690 | 125,440 | 175,012 | |||||||||||||||||||||||||||||||||
Short term investments | — | 999 | 20,254 | |||||||||||||||||||||||||||||||||
Other assets | 120,469 | 120,906 | 106,045 | |||||||||||||||||||||||||||||||||
Total consolidated assets | $ | 2,885,978 | $ | 3,221,401 | $ | 3,264,441 | ||||||||||||||||||||||||||||||
Long Lived Assets by Country | ' | |||||||||||||||||||||||||||||||||||
Geographic Information | ||||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
Long Lived Assets | ||||||||||||||||||||||||||||||||||||
United States | $ | 384,626 | $ | 608,051 | $ | 515,096 | ||||||||||||||||||||||||||||||
Australia | 25,668 | 29,408 | 33,999 | |||||||||||||||||||||||||||||||||
Argentina | 94,705 | 1,705 | 5,213 | |||||||||||||||||||||||||||||||||
Bolivia | 235,085 | 240,905 | 230,956 | |||||||||||||||||||||||||||||||||
Mexico | 1,487,228 | 1,795,677 | 1,903,374 | |||||||||||||||||||||||||||||||||
Other Foreign Countries | 10,462 | 65 | 65 | |||||||||||||||||||||||||||||||||
Total | $ | 2,237,774 | $ | 2,675,811 | $ | 2,688,703 | ||||||||||||||||||||||||||||||
Revenue by Country | ' | |||||||||||||||||||||||||||||||||||
Twelve months ended December 31, | ||||||||||||||||||||||||||||||||||||
(in thousands) | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||||||||||
United States | $ | 268,023 | $ | 243,379 | $ | 208,517 | ||||||||||||||||||||||||||||||
Mexico | 324,040 | 442,098 | 513,097 | |||||||||||||||||||||||||||||||||
Bolivia | 141,721 | 178,005 | 267,502 | |||||||||||||||||||||||||||||||||
Australia | 12,871 | 18,848 | 18,737 | |||||||||||||||||||||||||||||||||
Argentina | (661 | ) | 13,162 | 13,347 | ||||||||||||||||||||||||||||||||
Total | $ | 745,994 | $ | 895,492 | $ | 1,021,200 | ||||||||||||||||||||||||||||||
The Company markets its doré to bullion trading houses, market makers and members of the London Bullion Market Association, industrial companies and other financial institutions. The Company has eight trading counterparties and the sales of metals to these companies amounted to approximately 72%, 91%, and 82% of total metal sales for the years ended December 31, 2013, 2012, and 2011, respectively. Generally, the loss of a single bullion trading counterparty would not adversely affect the Company due to the liquidity of the markets and the availability of alternative trading counterparties. | ||||||||||||||||||||||||||||||||||||
The Company currently has five trading counterparties for its silver and gold concentrates and the sales to these companies amounted to approximately 28%, 9%, and 18% of total metal sales for the years ended December 31, 2013, 2012, and 2011, respectively. The loss of any one smelting and refining client may have a material adverse effect if alternate smelters and refiners are not available. The Company believes there is sufficient global capacity available to address the loss of any one smelter. | ||||||||||||||||||||||||||||||||||||
The following table indicates customers that represent 10% or more of total sales of metal for at least one of the years December 31, 2013, 2012, and 2011 (in millions): | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||||||
Customer | 2013 | 2012 | 2011 | Segments reporting revenue | ||||||||||||||||||||||||||||||||
Auramet | $ | 111.7 | $ | 94.6 | $ | 50.8 | Palmarejo, San Bartolomé, Kensington, Rochester | |||||||||||||||||||||||||||||
Toronto-Dominion Bank | 106.7 | 65.8 | — | Palmarejo, Rochester | ||||||||||||||||||||||||||||||||
INTL Commodities | 84.6 | 58 | 112.6 | Palmarejo, San Bartolomé, Rochester | ||||||||||||||||||||||||||||||||
China Gold | 81.5 | 43.8 | 108.9 | Kensington | ||||||||||||||||||||||||||||||||
Valcambi | 77.2 | 414.4 | 385.5 | Palmarejo, San Bartolomé | ||||||||||||||||||||||||||||||||
Mitsui | 70.3 | 65.6 | 105.1 | Palmarejo, Rochester | ||||||||||||||||||||||||||||||||
WriteDowns_Tables
Write-Downs (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||||
Write-Downs | ' | ||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Property, plant, and equipment | |||||||||||||
Palmarejo | $ | 102,735 | $ | — | $ | — | |||||||
Kensington | 48,357 | — | — | ||||||||||
151,092 | — | — | |||||||||||
Mining properties | |||||||||||||
Palmarejo | 539,359 | — | — | ||||||||||
Kensington | 82,337 | — | — | ||||||||||
Martha | 205 | 5,825 | — | ||||||||||
621,901 | 5,825 | — | |||||||||||
Total | $ | 772,993 | $ | 5,825 | $ | — | |||||||
Reclamation_and_Mine_Closure_T
Reclamation and Mine Closure (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | |||||||
Asset Retirement Obligation | ' | |||||||
Changes to the Company’s asset retirement obligations are as follows (in thousands): | ||||||||
Years ended December 31, | ||||||||
2013 | 2012 | |||||||
Asset retirement obligation - Beginning | $ | 34,457 | $ | 32,714 | ||||
Accretion | 3,442 | 2,911 | ||||||
Additions and changes in estimates | 20,236 | (1,073 | ) | |||||
Settlements | (681 | ) | (95 | ) | ||||
Asset retirement obligation - Ending | $ | 57,454 | $ | 34,457 | ||||
StockBased_Compensation_Plans_
Stock-Based Compensation Plans (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||
Assumptions to estimate fair value of stock options and SAR's | ' | ||||||||||||||||||
The following table sets forth the weighted average fair value of stock options and the assumptions used to estimate the fair value of the stock options using the Black-Scholes option valuation model: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Weighted average fair value of stock options granted | $ | 12.6 | $ | 15.77 | $ | 17.85 | |||||||||||||
Volatility | 76.74 | % | 70.56 | % | 72.56 | % | |||||||||||||
Expected life in years | 5 | 5.5 | 6 | ||||||||||||||||
Risk-free interest rate | 0.84 | % | 0.89 | % | 2.3 | % | |||||||||||||
Dividend yield | — | — | — | ||||||||||||||||
Summary of stock option and SAR's activity | ' | ||||||||||||||||||
The following table summarizes stock option and SARs activity for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||
Stock Options | SARs | ||||||||||||||||||
Shares | Weighted | Shares | Weighted | ||||||||||||||||
Average | Average | ||||||||||||||||||
Exercise | Exercise | ||||||||||||||||||
Price | Price | ||||||||||||||||||
Outstanding at December 31, 2010 | 330,840 | $ | 24.6 | 230,563 | $ | 13.46 | |||||||||||||
Granted | 139,916 | 27.39 | — | — | |||||||||||||||
Exercised | (129,785 | ) | 11.41 | (119,801 | ) | 13.1 | |||||||||||||
Canceled/forfeited | (19,364 | ) | 40.16 | (3,123 | ) | 14.46 | |||||||||||||
Outstanding at December 31, 2011 | 321,607 | 24.6 | 107,639 | 13.46 | |||||||||||||||
Granted | 151,102 | 26.97 | — | — | |||||||||||||||
Exercised | (40,173 | ) | 11.84 | (34,385 | ) | 12.73 | |||||||||||||
Canceled/forfeited | (62,536 | ) | 29.22 | (4,389 | ) | 15.4 | |||||||||||||
Outstanding at December 31, 2012 | 370,000 | 30.2 | 68,865 | 13.83 | |||||||||||||||
Granted | 190,452 | 20.41 | — | — | |||||||||||||||
Exercised | (13,027 | ) | 10.77 | (6,617 | ) | 13.14 | |||||||||||||
Canceled/forfeited | (131,855 | ) | 29.3 | (12,039 | ) | 15.4 | |||||||||||||
Outstanding at December 31, 2013 | 415,570 | $ | 27.36 | 50,209 | $ | 14.15 | |||||||||||||
Exercise Price Range | ' | ||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||
Range of | Number | Weighted Average | Weighted | Number | Weighted | Weighted | |||||||||||||
Exercise Price | Outstanding | Exercise | Average | Exercisable | Average | Average | |||||||||||||
Price | Remaining | Exercise | Remaining | ||||||||||||||||
Contractual | Price | Contractual Life (Years) | |||||||||||||||||
Life (Years) | |||||||||||||||||||
$ 0.00-$10.00 | 13,262 | $ | 10 | 5.09 | 13,262 | $ | 10 | 5.09 | |||||||||||
$10.00-$20.00 | 99,245 | $ | 17.25 | 9.21 | 3,936 | $ | 19.01 | 8.35 | |||||||||||
$20.00-$30.00 | 227,896 | $ | 26.07 | 6.61 | 99,310 | $ | 27.29 | 4.05 | |||||||||||
$30.00-$40.00 | 38,369 | $ | 39 | 1.25 | 37,515 | $ | 39.09 | 1.12 | |||||||||||
$40.00-$50.00 | 14,386 | $ | 48.5 | 1.34 | 14,386 | $ | 48.5 | 1.34 | |||||||||||
$50.00-$60.00 | 9,544 | $ | 51.4 | 0.91 | 9,544 | $ | 51.4 | 0.91 | |||||||||||
$60.00-$70.00 | 3,219 | $ | 66.6 | 0.02 | 3,219 | $ | 66.6 | 0.02 | |||||||||||
$70.00-$80.00 | 9,649 | $ | 70.9 | 0.14 | 9,649 | $ | 70.9 | 0.14 | |||||||||||
415,570 | $ | 27.36 | 190,821 | $ | 33.91 | ||||||||||||||
Summary of restricted stock and restricted stock units activity | ' | ||||||||||||||||||
he following table summarizes restricted stock and restricted stock units activity for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||||
Restricted Stock | Restricted Stock Units | ||||||||||||||||||
Number of | Weighted | Number of | Weighted Average | ||||||||||||||||
Shares | Average | Units | Fair Value | ||||||||||||||||
Grant Date | |||||||||||||||||||
Fair Value | |||||||||||||||||||
Outstanding at December 31, 2010 | 64,623 | $ | 11.37 | 126,416 | $ | 27.32 | |||||||||||||
Granted | 205,463 | 27.37 | — | — | |||||||||||||||
Vested | (85,323 | ) | 19.36 | (79,014 | ) | 27.87 | |||||||||||||
Cancelled/Forfeited | (11,254 | ) | 26.89 | (1,884 | ) | 25.03 | |||||||||||||
Outstanding at December 31, 2011 | 173,509 | 11.37 | 45,518 | 27.32 | |||||||||||||||
Granted | 230,096 | 26.4 | — | — | |||||||||||||||
Vested | (95,336 | ) | 23.15 | (31,456 | ) | 25.92 | |||||||||||||
Cancelled/Forfeited | (68,571 | ) | 27.43 | (2,651 | ) | 24.6 | |||||||||||||
Outstanding at December 31, 2012 | 239,698 | 25.38 | 11,411 | 24.14 | |||||||||||||||
Granted | 573,467 | 15.38 | — | — | |||||||||||||||
Vested | (90,963 | ) | 26.83 | (11,411 | ) | 22.74 | |||||||||||||
Cancelled/Forfeited | (109,116 | ) | 23.3 | — | — | ||||||||||||||
Outstanding at December 31, 2013 | 613,086 | $ | 16.68 | — | $ | — | |||||||||||||
Summary of performance shares and performance unit activity | ' | ||||||||||||||||||
The following table summarizes performance shares and performance units’ activity for the years-ended December 31, 2013, 2012, and 2011: | |||||||||||||||||||
Performance Shares | Performance Units | ||||||||||||||||||
Number of | Weighted | Number of | Weighted Average | ||||||||||||||||
Shares | Average | Units | Fair Value | ||||||||||||||||
Grant Date | |||||||||||||||||||
Fair Value | |||||||||||||||||||
Outstanding at December 31, 2010 | 100,828 | $ | 16.29 | 145,023 | $ | 35.41 | |||||||||||||
Granted | 81,489 | 42.72 | — | — | |||||||||||||||
Vested | (56,830 | ) | 23.24 | (57,948 | ) | 24.68 | |||||||||||||
Cancelled/Forfeited | (19,558 | ) | 48.62 | (2,536 | ) | 25.03 | |||||||||||||
Outstanding at December 31, 2011 | 105,929 | 16.29 | 84,539 | 35.41 | |||||||||||||||
Granted | 145,508 | 25.78 | 32,498 | — | |||||||||||||||
Vested | (111,703 | ) | 7.96 | (74,845 | ) | 31.17 | |||||||||||||
Cancelled/Forfeited | (30,575 | ) | 42.11 | (7,953 | ) | 49.2 | |||||||||||||
Outstanding at December 31, 2012 | 109,159 | 26.92 | 34,239 | 39.78 | |||||||||||||||
Granted | 173,773 | 23.35 | 34,239 | 38.02 | |||||||||||||||
Vested | (4,160 | ) | 30.97 | (68,478 | ) | 38.02 | |||||||||||||
Cancelled/Forfeited | (68,377 | ) | 34.49 | — | — | ||||||||||||||
Outstanding at December 31, 2013 | 210,395 | $ | 28.04 | — | $ | — | |||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||||||||||
The components of income (loss) before income taxes were as follows (in thousands): | |||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
United States | $ | (242,562 | ) | $ | (3,443 | ) | $ | (38,372 | ) | ||||||||||||
Foreign | (566,117 | ) | 122,927 | 246,617 | |||||||||||||||||
Total | $ | (808,679 | ) | $ | 119,484 | $ | 208,245 | ||||||||||||||
For the years ended December 31, 2013, 2012, and 2011 the Company reported an income tax (provision) benefit of $158.1 million, $(70.8) million, and $(114.7) million, respectively. | |||||||||||||||||||||
The following table summarizes the components of the Company’s income tax provision from continuing operations for the three years ended December 31, 2013, 2012, and 2011 (in thousands): | |||||||||||||||||||||
The components of the consolidated income tax benefit (expense) from continuing operations were as follows: | |||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Current: | |||||||||||||||||||||
United States | $ | 4 | $ | (257 | ) | $ | 2,015 | ||||||||||||||
United States — State mining taxes | (714 | ) | (2,195 | ) | (409 | ) | |||||||||||||||
United States — Foreign withholding tax | 397 | (736 | ) | (842 | ) | ||||||||||||||||
Argentina | (137 | ) | 976 | (1,219 | ) | ||||||||||||||||
Australia | (914 | ) | (1,760 | ) | (1,755 | ) | |||||||||||||||
Mexico | (9,046 | ) | (7,814 | ) | (1,084 | ) | |||||||||||||||
Bolivia | (6,716 | ) | (43,546 | ) | (59,660 | ) | |||||||||||||||
Canada | (1,936 | ) | — | — | |||||||||||||||||
Deferred: | |||||||||||||||||||||
Argentina | 8,062 | — | — | ||||||||||||||||||
Australia | (2 | ) | (223 | ) | (661 | ) | |||||||||||||||
Bolivia | (4,222 | ) | (1,087 | ) | (207 | ) | |||||||||||||||
Mexico | 94,851 | (10,579 | ) | (28,022 | ) | ||||||||||||||||
United States | 78,489 | (3,586 | ) | (22,902 | ) | ||||||||||||||||
Income tax benefit (expense) | $ | 158,116 | $ | (70,807 | ) | $ | (114,746 | ) | |||||||||||||
Reconciliation of effective tax rate with the federal statutory tax rate | ' | ||||||||||||||||||||
A reconciliation of the Company’s effective tax rate with the federal statutory tax rate for the periods indicated is as follows: | |||||||||||||||||||||
Years Ended December 31 | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Tax benefit (expense) from continuing operations | $ | 283,038 | $ | (41,819 | ) | $ | (72,886 | ) | |||||||||||||
State tax provision from continuing operations | 2,245 | (3,151 | ) | (11,009 | ) | ||||||||||||||||
Percentage depletion and related deductions | — | 7,461 | — | ||||||||||||||||||
Change in valuation allowance | (106,802 | ) | (12,651 | ) | (6,032 | ) | |||||||||||||||
Non-deductible imputed interest | (214 | ) | (525 | ) | (808 | ) | |||||||||||||||
Uncertain tax positions | (5,209 | ) | (9,849 | ) | (1,279 | ) | |||||||||||||||
U.S. and foreign non-deductible expenses | (2,383 | ) | (4,206 | ) | (10,648 | ) | |||||||||||||||
Foreign exchange rates | 13,937 | (10,416 | ) | (4,440 | ) | ||||||||||||||||
Foreign inflation and indexing | 2,937 | 712 | (3,829 | ) | |||||||||||||||||
Foreign tax rate differences | (24,108 | ) | 3,967 | 22,795 | |||||||||||||||||
Foreign withholding and other foreign taxes | (100,331 | ) | (5,861 | ) | (23,246 | ) | |||||||||||||||
Foreign tax credits and other, net | 13,153 | 5,531 | (3,364 | ) | |||||||||||||||||
Change in Mexico permanent reinvestment assertion | 81,853 | — | — | ||||||||||||||||||
$ | 158,116 | $ | (70,807 | ) | $ | (114,746 | ) | ||||||||||||||
Deferred tax assets and liabilities | ' | ||||||||||||||||||||
As of December 31, 2013 and 2012, the significant components of the Company’s deferred tax assets and liabilities were as follows: | |||||||||||||||||||||
Years Ended December 31 | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||
Mineral properties | $ | 344,152 | $ | 461,742 | |||||||||||||||||
Mexican mining royalty tax | 76,386 | — | |||||||||||||||||||
Foreign subsidiaries — unremitted earnings | 182,464 | 247,000 | |||||||||||||||||||
Inventory | 2,746 | — | |||||||||||||||||||
Property, plant and equipment, net | 33,094 | 60,266 | |||||||||||||||||||
$ | 638,842 | $ | 769,008 | ||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||
Net operating loss carryforwards | 130,170 | 99,323 | |||||||||||||||||||
Foreign subsidiaries — future tax credits | 163,947 | 145,395 | |||||||||||||||||||
Royalty and other long-term debt | 11,616 | 42,221 | |||||||||||||||||||
Capital loss carryforwards | 34,930 | 35,315 | |||||||||||||||||||
Asset retirement obligation | 18,589 | 8,623 | |||||||||||||||||||
Unrealized foreign currency loss and other | 9,567 | 1,590 | |||||||||||||||||||
Accrued expenses | 14,756 | 20,692 | |||||||||||||||||||
Tax credit carryforwards | 23,585 | 22,811 | |||||||||||||||||||
Inventory | — | 1,418 | |||||||||||||||||||
407,160 | 377,388 | ||||||||||||||||||||
Valuation allowance | (289,378 | ) | (182,576 | ) | |||||||||||||||||
117,782 | 194,812 | ||||||||||||||||||||
Net deferred tax liabilities | $ | (521,060 | ) | $ | (574,196 | ) | |||||||||||||||
Recorded valuation allowances | ' | ||||||||||||||||||||
The Company has evaluated the amount of taxable income and periods over which it must be earned to allow for realization of the deferred tax assets. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this decision. Based upon this analysis, the Company has recorded valuation allowances as follows: | |||||||||||||||||||||
Years Ended December 31 | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
U.S. | $ | 236,653 | $ | 132,790 | |||||||||||||||||
Argentina | 17,005 | 18,442 | |||||||||||||||||||
Canada | 4,453 | 2,227 | |||||||||||||||||||
New Zealand | 27,292 | 27,125 | |||||||||||||||||||
Other | 3,975 | 1,992 | |||||||||||||||||||
$ | 289,378 | $ | 182,576 | ||||||||||||||||||
Reconciliation of the beginning and ending amount related to unrecognized tax benefits | ' | ||||||||||||||||||||
A reconciliation of the beginning and ending amount related to unrecognized tax benefits is as follows (in thousands): | |||||||||||||||||||||
Unrecognized tax benefits at January 1, 2012 | $ | 1,980 | |||||||||||||||||||
Gross increase to current period tax positions | 9,227 | ||||||||||||||||||||
Gross decrease to prior period tax positions | (696 | ) | |||||||||||||||||||
Unrecognized tax benefits at December 31, 2012 | $ | 10,511 | |||||||||||||||||||
Gross increase to current period tax positions | 2,231 | ||||||||||||||||||||
Gross increase to prior period tax positions | 2,761 | ||||||||||||||||||||
Reductions in unrecognized tax benefits resulting from a lapse of the applicable statue of limitations | (32 | ) | |||||||||||||||||||
Unrecognized tax benefits at December 31, 2013 | $ | 15,471 | |||||||||||||||||||
Tax attribute carryforwards | ' | ||||||||||||||||||||
The Company has the following tax attribute carryforwards as of December 31, 2013, by jurisdiction: | |||||||||||||||||||||
U.S. | Argentina | Canada | Mexico | New Zealand | Other | Total | |||||||||||||||
Regular net operating losses | 226,985 | 21,061 | 7,203 | 4,170 | 97,470 | 6,641 | 363,530 | ||||||||||||||
Alternative minimum tax net operating losses | 99,954 | — | — | — | — | — | 99,954 | ||||||||||||||
Capital losses | 90,258 | — | 3,579 | — | — | — | 93,837 | ||||||||||||||
Alternative minimum tax credits | 3,136 | — | — | — | — | — | 3,136 | ||||||||||||||
Foreign tax credits | 19,494 | — | — | — | — | — | 19,494 | ||||||||||||||
Net_Income_Loss_Per_Share_Tabl
Net Income (Loss) Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||||
Year ended December 31, | ||||||||||||
In thousands except per share amounts | 2013 | 2012 | 2011 | |||||||||
Net income (loss) available to common stockholders | $ | (650,563 | ) | $ | 48,677 | $ | 93,499 | |||||
Weighted average shares | ||||||||||||
Basic | 97,864 | 89,437 | 89,383 | |||||||||
Effect of share based compensation plans | — | 166 | 342 | |||||||||
Diluted | 97,864 | 89,603 | 89,725 | |||||||||
Income (loss) per share: | ||||||||||||
Basic | $ | (6.65 | ) | $ | 0.54 | $ | 1.05 | |||||
Diluted | $ | (6.65 | ) | $ | 0.54 | $ | 1.04 | |||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Orko Silver Corporation [Member] | ' | |||
Business Acquisition [Line Items] | ' | |||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ' | |||
Total consideration paid for the asset acquisition (in thousands): | ||||
Common shares issued (11,572,918 at $14.98) | $ | 173,363 | ||
Cash | 99,059 | |||
Warrants (1,588,768 valued at $3.64 per warrant) | 5,777 | |||
Transaction advisory fees and other acquisition costs | 17,642 | |||
Total purchase price | 295,841 | |||
Current liabilities | 2,616 | |||
Deferred income taxes | 114,339 | |||
Total liabilities assumed | 116,955 | |||
Total consideration | $ | 412,796 | ||
Schedule of Assets Acquired Through Business Combination at Fair Value | ' | |||
Estimated fair value of the assets acquired (in thousands): | ||||
Cash | $ | 3,487 | ||
Other current assets | 635 | |||
Mineral interests | 408,352 | |||
Other assets | 322 | |||
Total assets acquired | $ | 412,796 | ||
Global Royalty Corp [Member] | ' | |||
Business Acquisition [Line Items] | ' | |||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | ' | |||
Total consideration paid for the acquisition (in thousands): | ||||
Common shares issued (2,130,351 at $10.42) | $ | 22,198 | ||
Cash | 3,849 | |||
Total purchase price | 26,047 | |||
Current liabilities | 679 | |||
Deferred income taxes | 7,926 | |||
Total liabilities assumed | 8,605 | |||
Total consideration | $ | 34,652 | ||
Schedule of Assets Acquired Through Business Combination at Fair Value | ' | |||
Estimated fair value of the assets acquired (in thousands): | ||||
Cash | $ | 165 | ||
Receivables | 276 | |||
Metal and other inventory | 111 | |||
Mineral interests | 34,100 | |||
Total assets acquired | $ | 34,652 | ||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||
Financial assets and liabilities measured at fair value on recurring basis | ' | |||||||||||||||||||||||
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands): | ||||||||||||||||||||||||
Fair Value at December 31, 2013 | ||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Marketable equity securities | $ | 14,521 | $ | 14,521 | $ | — | $ | — | ||||||||||||||||
Gold and silver put options | 135 | — | 135 | — | ||||||||||||||||||||
$ | 14,656 | $ | 14,521 | $ | 135 | $ | — | |||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Palmarejo royalty obligation embedded derivative | $ | 40,338 | $ | — | $ | — | $ | 40,338 | ||||||||||||||||
Rochester NSR royalty obligation | 21,630 | — | — | 21,630 | ||||||||||||||||||||
Other derivative instruments, net | 1,590 | — | 1,590 | — | ||||||||||||||||||||
$ | 63,558 | $ | — | $ | 1,590 | $ | 61,968 | |||||||||||||||||
Fair Value at December 31, 2012 | ||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Assets: | ||||||||||||||||||||||||
Short-term investments | $ | 999 | $ | 999 | $ | — | $ | — | ||||||||||||||||
Marketable equity securities | 27,065 | 27,065 | — | — | ||||||||||||||||||||
Put and call options | 943 | — | 943 | — | ||||||||||||||||||||
$ | 29,007 | $ | 28,064 | $ | 943 | $ | — | |||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
Palmarejo royalty obligation embedded derivative | $ | 145,098 | $ | — | $ | 145,098 | $ | — | ||||||||||||||||
Put and call options | 9,299 | — | 9,299 | — | ||||||||||||||||||||
$ | 154,397 | $ | — | $ | 154,397 | $ | — | |||||||||||||||||
Changes in the fair value of the Comany's Level 3 financial liabilities | ' | |||||||||||||||||||||||
Balance at the beginning of the period | Additions | Revaluation | Transfers from Level 2 | Balance at the end of the period | Unrealized gains (losses) recognized in income statement | |||||||||||||||||||
Palmarejo royalty obligation embedded derivative | $ | — | $ | — | $ | (104,760 | ) | $ | 145,098 | $ | 40,338 | $ | 104,760 | |||||||||||
Rochester NSR royalty obligation | — | 22,046 | (416 | ) | — | 21,630 | 416 | |||||||||||||||||
Quantitative and qualitative information related to unobservable inputs | ' | |||||||||||||||||||||||
The following table sets forth the quantitative and qualitative information related to the unobservable inputs used in the calculation of the Company's non-recurring Level 3 fair value measurements: | ||||||||||||||||||||||||
Description | Valuation technique | Unobservable input | Range / Weighted Average | |||||||||||||||||||||
Property, plant, and equipment | Discounted cash flow | Discount rate | 8.5% - 10.5% | |||||||||||||||||||||
Long-term silver price | $25.00 | |||||||||||||||||||||||
Long-term gold price | $1,450 | |||||||||||||||||||||||
Mining properties | Discounted cash flow | Discount rate | 8.5% - 10.5% | |||||||||||||||||||||
Long-term silver price | $25.00 | |||||||||||||||||||||||
Long-term gold price | $1,450 | |||||||||||||||||||||||
Financial Assets and Liabilities not Measured at Fair Value | ' | |||||||||||||||||||||||
inancial assets and liabilities that are measured at book value in the financial statements at December 31, 2013 and December 31, 2012 are presented in the following table (in thousands): | ||||||||||||||||||||||||
Fair Value at December 31, 2013 | ||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
3.25% Convertible Senior Notes due 2028 | $ | 5,067 | $ | 5,067 | $ | — | $ | — | ||||||||||||||||
7.875% Senior Notes due 2021 | 307,314 | 307,314 | — | — | ||||||||||||||||||||
Palmarejo Gold Production Royalty Obligation | 65,212 | — | — | 65,212 | ||||||||||||||||||||
Fair Value at December 31, 2012 | ||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||
3.25% Convertible Senior Notes due 2028 | $ | 48,220 | $ | 48,220 | $ | — | $ | — | ||||||||||||||||
Palmarejo Gold Production Royalty Obligation | 90,617 | — | 90,617 | — | ||||||||||||||||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||
Derivative instruments Settlement | ' | |||||||||||||||||||
At December 31, 2013, the Company had the following derivative instruments that settle in each of the years indicated (in thousands except average prices and notional ounces): | ||||||||||||||||||||
2014 | 2015 | 2016 | Thereafter | |||||||||||||||||
Palmarejo gold production royalty | $ | 29,831 | $ | 24,764 | $ | 15,141 | $ | — | ||||||||||||
Average gold price in excess of minimum contractual deduction | 498 | 494 | 490 | — | ||||||||||||||||
Notional ounces | 59,856 | 50,153 | 30,922 | — | ||||||||||||||||
Mexican peso forward purchase contracts | $ | 12,000 | $ | — | $ | — | $ | — | ||||||||||||
Average rate (MXN/$) | 12.21 | — | — | — | ||||||||||||||||
Mexican peso notional amount | 146,460 | — | — | — | ||||||||||||||||
Mexican peso put options purchased | $ | 45,000 | $ | — | $ | — | $ | — | ||||||||||||
Average rate (MXN/$) | 12.6 | — | — | — | ||||||||||||||||
Mexican peso notional amount | 567,150 | — | — | — | ||||||||||||||||
Mexican peso call options sold | $ | 45,000 | $ | — | $ | — | $ | — | ||||||||||||
Average rate (MXN/$) | 14.8 | — | — | — | ||||||||||||||||
Mexican peso notional amount | 666,075 | — | — | — | ||||||||||||||||
Silver concentrate sales agreements | $ | 3,645 | $ | — | $ | — | $ | — | ||||||||||||
Average silver price | $ | 20.98 | $ | — | $ | — | $ | — | ||||||||||||
Notional ounces | 173,752 | — | — | — | ||||||||||||||||
Gold concentrate sales agreements | $ | 38,760 | $ | — | $ | — | $ | — | ||||||||||||
Average gold price | $ | 1,259 | $ | — | $ | — | $ | — | ||||||||||||
Notional ounces | 30,780 | — | — | — | ||||||||||||||||
Gold put options purchased | $ | 274 | $ | — | $ | — | $ | — | ||||||||||||
Average gold strike price | $ | 1,150 | $ | — | $ | — | $ | — | ||||||||||||
Notional ounces | 25,000 | — | — | — | ||||||||||||||||
Silver put options purchased | $ | 238 | $ | — | $ | — | $ | — | ||||||||||||
Average silver strike price | $ | 17 | $ | — | $ | — | $ | — | ||||||||||||
Notional ounces | 1,250,000 | — | — | — | ||||||||||||||||
Fair value of the derivative instruments | ' | |||||||||||||||||||
The following summarizes the classification of the fair value of the derivative instruments (in thousands): | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Prepaid | Accrued | Other long- | Current | Non-current | ||||||||||||||||
expenses and | liabilities and | term | portion of | portion of | ||||||||||||||||
other | other | liabilities | royalty | royalty | ||||||||||||||||
obligation | obligation | |||||||||||||||||||
Foreign exchange contracts, peso | $ | 38 | $ | 947 | $ | — | $ | — | $ | — | ||||||||||
Palmarejo gold production royalty | — | — | — | 17,650 | 22,688 | |||||||||||||||
Gold and silver put options | 135 | — | — | — | — | |||||||||||||||
Concentrate sales contracts | 11 | 693 | — | — | — | |||||||||||||||
$ | 184 | $ | 1,640 | $ | — | $ | 17,650 | $ | 22,688 | |||||||||||
December 31, 2012 | ||||||||||||||||||||
Prepaid | Accrued | Other long- | Current | Non-current | ||||||||||||||||
expenses and | liabilities and | term | portion of | portion of | ||||||||||||||||
other | other | Liabilities | royalty | royalty | ||||||||||||||||
obligation | obligation | |||||||||||||||||||
Foreign exchange contracts, peso | $ | 376 | $ | 300 | $ | — | $ | — | $ | — | ||||||||||
Palmarejo gold production royalty | — | — | — | 41,146 | 103,952 | |||||||||||||||
Gold and silver put options, net | — | 2,025 | 7,274 | — | — | |||||||||||||||
Concentrate sales contracts | 1,030 | 163 | — | — | — | |||||||||||||||
$ | 1,406 | $ | 2,488 | $ | 7,274 | $ | 41,146 | $ | 103,952 | |||||||||||
Gain losses on derivative instruments | ' | |||||||||||||||||||
The following represent mark-to-market gains (losses) on derivative instruments for the years ended December 31, 2013, 2012, and 2011 (in thousands): | ||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||
Financial statement line | Derivative | 2013 | 2012 | 2011 | ||||||||||||||||
Sales of metal | Concentrate sales contracts | $ | (1,995 | ) | $ | 1,682 | $ | 2,505 | ||||||||||||
Production costs applicable to sales | Forward foreign exchange contracts | 589 | (1,621 | ) | 383 | |||||||||||||||
Fair value adjustments, net | Gold lease facility | — | — | (132 | ) | |||||||||||||||
Fair value adjustments, net | Forward foreign exchange contracts | (985 | ) | 3,264 | (3,192 | ) | ||||||||||||||
Fair value adjustments, net | Forward gold contract | — | — | 34 | ||||||||||||||||
Fair value adjustments, net | Silver ounces receivable | — | 213 | (276 | ) | |||||||||||||||
Fair value adjustments, net | Palmarejo gold royalty | 76,200 | (31,053 | ) | (40,046 | ) | ||||||||||||||
Fair value adjustments, net | Put and call options | 7,119 | 4,089 | (8,438 | ) | |||||||||||||||
$ | 80,928 | $ | (23,426 | ) | $ | (49,162 | ) | |||||||||||||
Investments_Tables
Investments (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Investment in Marketable Securities [Abstract] | ' | ||||||||||||||||||||
Investments | ' | ||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||
Cost | Gross | Gross | Estimated | ||||||||||||||||||
Unrealized | Unrealized | Fair Value | |||||||||||||||||||
Losses | Gains | ||||||||||||||||||||
Marketable securities | $ | 17,649 | $ | (3,300 | ) | $ | 172 | $ | 14,521 | ||||||||||||
At December 31, 2012 | |||||||||||||||||||||
Cost | Gross | Gross | Estimated | ||||||||||||||||||
Unrealized | Unrealized | Fair Value | |||||||||||||||||||
Losses | Gains | ||||||||||||||||||||
Marketable securities | $ | 34,786 | $ | (10,443 | ) | $ | 2,722 | $ | 27,065 | ||||||||||||
Gross unrealized losses on investment securities | ' | ||||||||||||||||||||
The following table summarizes the gross unrealized losses on investment securities for which other-than-temporary impairments have not been recognized and the fair values of those securities, aggregated by the length of time the individual securities have been in a continuous unrealized loss position, at December 31, 2013 (in thousands): | |||||||||||||||||||||
Less than twelve months | Twelve months or more | Total | |||||||||||||||||||
Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | ||||||||||||||||
Marketable equity securities | $ | (3,300 | ) | $ | 4,146 | $ | — | $ | — | $ | (3,300 | ) | $ | 4,146 | |||||||
Receivables_Tables
Receivables (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Receivables [Abstract] | ' | |||||||
Receivables | ' | |||||||
Receivables consist of the following (in thousands): | ||||||||
December 31, 2013 | 31-Dec-12 | |||||||
Receivables - current | ||||||||
Accounts receivable - trade | $ | 17,303 | $ | 8,701 | ||||
Refundable income tax | 6,240 | 9,331 | ||||||
Refundable value added tax | 49,168 | 40,020 | ||||||
Accounts receivable - other | 8,363 | 4,386 | ||||||
$ | 81,074 | $ | 62,438 | |||||
Receivables - non-current | ||||||||
Refundable value added tax | $ | 36,574 | $ | 48,767 | ||||
Metal_and_Other_Inventory_Tabl
Metal and Other Inventory (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventories | ' | |||||||
Metal and other inventory consist of the following (in thousands): | ||||||||
December 31, 2013 | 31-Dec-12 | |||||||
Concentrate and doré inventory | $ | 67,105 | $ | 91,130 | ||||
Supplies | 64,918 | 79,540 | ||||||
$ | 132,023 | $ | 170,670 | |||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, plant and equipment | ' | |||||||
Property, plant and equipment consist of the following (in thousands): | ||||||||
December 31, 2013 | 31-Dec-12 | |||||||
Land | $ | 1,764 | $ | 2,010 | ||||
Buildings and improvements | 489,535 | 581,286 | ||||||
Machinery and equipment | 365,783 | 360,199 | ||||||
Capitalized leases for machinery, equipment, buildings, and land | 16,133 | 35,129 | ||||||
873,215 | 978,624 | |||||||
Accumulated amortization | (395,520 | ) | (313,067 | ) | ||||
477,695 | 665,557 | |||||||
Construction in progress | 8,578 | 18,303 | ||||||
$ | 486,273 | $ | 683,860 | |||||
Mining_Properties_Tables
Mining Properties (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Mining Properties [Abstract] | ' | |||||||||||||||||||||||||||||||
Mining Properties | ' | |||||||||||||||||||||||||||||||
Mining properties consist of the following (in thousands): | ||||||||||||||||||||||||||||||||
December 31, 2013 | Palmarejo | San | Kensington | Rochester | La Preciosa | Joaquin | Coeur Capital | Total | ||||||||||||||||||||||||
Bartolomé | ||||||||||||||||||||||||||||||||
Mining properties | $ | 151,845 | $ | 70,761 | $ | 268,351 | $ | 150,348 | $ | — | $ | — | $ | — | $ | 641,305 | ||||||||||||||||
Accumulated amortization | (110,143 | ) | (22,236 | ) | (80,032 | ) | (103,130 | ) | — | — | — | (315,541 | ) | |||||||||||||||||||
41,702 | 48,525 | 188,319 | 47,218 | — | — | — | 325,764 | |||||||||||||||||||||||||
Mineral interests | 1,146,572 | 26,643 | — | — | 408,352 | 93,429 | 78,133 | 1,753,129 | ||||||||||||||||||||||||
Accumulated amortization | (300,187 | ) | (8,759 | ) | — | — | — | — | (18,446 | ) | (327,392 | ) | ||||||||||||||||||||
846,385 | 17,884 | — | — | 408,352 | 93,429 | 59,687 | 1,425,737 | |||||||||||||||||||||||||
Total mining properties | $ | 888,087 | $ | 66,409 | $ | 188,319 | $ | 47,218 | $ | 408,352 | $ | 93,429 | $ | 59,687 | $ | 1,751,501 | ||||||||||||||||
December 31, 2012 | Palmarejo | San | Kensington | Rochester | Endeavor | Joaquin | Total | |||||||||||||||||||||||||
Bartolomé | ||||||||||||||||||||||||||||||||
Mining properties | $ | 155,722 | $ | 70,322 | $ | 333,619 | $ | 114,973 | $ | — | $ | — | $ | 674,636 | ||||||||||||||||||
Accumulated amortization | (82,037 | ) | (18,439 | ) | (46,649 | ) | (100,437 | ) | — | — | (247,562 | ) | ||||||||||||||||||||
73,685 | 51,883 | 286,970 | 14,536 | — | — | 427,074 | ||||||||||||||||||||||||||
Mineral interests | 1,658,389 | 26,642 | — | — | 44,033 | 93,571 | 1,822,635 | |||||||||||||||||||||||||
Accumulated amortization | (235,795 | ) | (7,338 | ) | — | — | (14,625 | ) | — | (257,758 | ) | |||||||||||||||||||||
1,422,594 | 19,304 | — | — | 29,408 | 93,571 | 1,564,877 | ||||||||||||||||||||||||||
Total mining properties | $ | 1,496,279 | $ | 71,187 | $ | 286,970 | $ | 14,536 | $ | 29,408 | $ | 93,571 | $ | 1,991,951 | ||||||||||||||||||
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||
Long term debt and capital lease obligations | ' | |||||||||||||||
The current and non-current portions of long-term debt and capital lease obligations at December 31, 2013 and December 31, 2012 are as follows (in thousands): | ||||||||||||||||
December 31, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
Current | Non-Current | Current | Non-Current | |||||||||||||
3.25% Convertible Senior Notes due 2028 | $ | — | $ | 5,334 | $ | 48,081 | $ | — | ||||||||
7.875% Senior Notes due 2021 | — | 300,000 | — | — | ||||||||||||
Capital lease obligations | 2,505 | 796 | 7,902 | 3,460 | ||||||||||||
$ | 2,505 | $ | 306,130 | $ | 55,983 | $ | 3,460 | |||||||||
Interest expenses incurred for various debt instruments | ' | |||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
(in thousands) | ||||||||||||||||
3.25% Convertible Senior Notes due 2028 | $ | 466 | $ | 1,581 | $ | 1,581 | ||||||||||
7.875 % Senior Notes due 2021 | 21,853 | — | — | |||||||||||||
Revolving Credit Facility | 612 | 213 | — | |||||||||||||
1.25% Convertible Senior Notes due 2024 (terminated in 2011) | — | — | 1 | |||||||||||||
Senior Term Notes (terminated in 2011) | — | — | 1,381 | |||||||||||||
Kensington Term Facility (terminated in 2012) | — | 2,339 | 4,383 | |||||||||||||
Capital lease obligations | 415 | 997 | 1,620 | |||||||||||||
Other debt obligations | 291 | 881 | 1,379 | |||||||||||||
Accretion of Franco Nevada royalty obligation | 17,641 | 19,139 | 22,230 | |||||||||||||
Amortization of debt issuance costs | 2,143 | 1,146 | 2,050 | |||||||||||||
Accretion of debt discount | 576 | 2,536 | 2,324 | |||||||||||||
Capitalized interest | (2,694 | ) | (2,663 | ) | (2,175 | ) | ||||||||||
Total interest expense, net of capitalized interest | $ | 41,303 | $ | 26,169 | $ | 34,774 | ||||||||||
Supplemental_Guarantor_Informa1
Supplemental Guarantor Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule of Comprehensive Income (Loss) | ' | ||||||||||||||||||||
CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||
YEAR ENDED DECEMBER 31, 2013 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
Sales of metal | $ | — | $ | 268,023 | $ | 477,971 | $ | — | $ | 745,994 | |||||||||||
Production costs applicable to sales | — | (182,444 | ) | (281,219 | ) | — | (463,663 | ) | |||||||||||||
Depreciation, depletion and amortization | (1,066 | ) | (73,802 | ) | (158,011 | ) | — | (232,879 | ) | ||||||||||||
Gross profit | (1,066 | ) | 11,777 | 38,741 | — | 49,452 | |||||||||||||||
COSTS AND EXPENSES | |||||||||||||||||||||
General and administrative | 50,213 | 3,245 | 1,885 | — | 55,343 | ||||||||||||||||
Exploration | 1,602 | 8,920 | 11,838 | — | 22,360 | ||||||||||||||||
Litigation settlement | — | 32,046 | — | — | 32,046 | ||||||||||||||||
Write-downs | — | 130,694 | 642,299 | — | 772,993 | ||||||||||||||||
Pre-development, care, maintenance and other | — | 946 | 10,923 | — | 11,869 | ||||||||||||||||
Total costs and expenses | 51,815 | 175,851 | 666,945 | — | 894,611 | ||||||||||||||||
OPERATING LOSS | (52,881 | ) | (164,074 | ) | (628,204 | ) | — | (845,159 | ) | ||||||||||||
OTHER INCOME AND EXPENSE | |||||||||||||||||||||
Fair value adjustments, net | (1,346 | ) | 7,896 | 76,218 | — | 82,768 | |||||||||||||||
Other than temporary impairment of marketable securities | (18,097 | ) | (211 | ) | — | — | (18,308 | ) | |||||||||||||
Interest income and other, net | 13,408 | (1,539 | ) | 4,602 | (3,148 | ) | 13,323 | ||||||||||||||
Interest expense, net of capitalized interest | (25,652 | ) | (445 | ) | (18,354 | ) | 3,148 | (41,303 | ) | ||||||||||||
Total other income and expense, net | (31,687 | ) | 5,701 | 62,466 | — | 36,480 | |||||||||||||||
Loss before income taxes | (84,568 | ) | (158,373 | ) | (565,738 | ) | — | (808,679 | ) | ||||||||||||
Income tax benefit | 78,332 | (155 | ) | 79,939 | — | 158,116 | |||||||||||||||
Total loss after taxes | (6,236 | ) | (158,528 | ) | (485,799 | ) | — | (650,563 | ) | ||||||||||||
Equity income (loss) in consolidated subsidiaries | (644,327 | ) | (68 | ) | — | 644,395 | — | ||||||||||||||
NET INCOME (LOSS) | $ | (650,563 | ) | $ | (158,596 | ) | $ | (485,799 | ) | $ | 644,395 | $ | (650,563 | ) | |||||||
OTHER COMPREHENSIVE INCOME (LOSS), net of tax: | |||||||||||||||||||||
Unrealized gain (loss) on available for sale securities | (8,489 | ) | (552 | ) | — | 552 | (8,489 | ) | |||||||||||||
Reclassification adjustments for losses included in net income | 11,221 | 211 | — | (211 | ) | 11,221 | |||||||||||||||
Reclassification adjustments for realized loss on sale of marketable securities | 83 | — | — | — | 83 | ||||||||||||||||
Other comprehensive income (loss) | 2,815 | (341 | ) | — | 341 | 2,815 | |||||||||||||||
COMPREHENSIVE INCOME (LOSS) | $ | (647,748 | ) | $ | (158,937 | ) | $ | (485,799 | ) | $ | 644,736 | $ | (647,748 | ) | |||||||
CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||
YEAR ENDED DECEMBER 31, 2011 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
Sales of metal | $ | — | $ | 208,517 | $ | 812,683 | $ | — | $ | 1,021,200 | |||||||||||
Production costs applicable to sales | — | (129,520 | ) | (290,027 | ) | — | (419,547 | ) | |||||||||||||
Depreciation, depletion and amortization | (450 | ) | (38,670 | ) | (185,380 | ) | — | (224,500 | ) | ||||||||||||
Gross profit | (450 | ) | 40,327 | 337,276 | — | 377,153 | |||||||||||||||
COSTS AND EXPENSES | |||||||||||||||||||||
General and administrative | 28,407 | 937 | 2,035 | — | 31,379 | ||||||||||||||||
Exploration | 1,504 | 3,754 | 13,870 | — | 19,128 | ||||||||||||||||
Pre-development, care, maintenance and other | — | 19,311 | 130 | — | 19,441 | ||||||||||||||||
Total costs and expenses | 29,911 | 24,002 | 16,035 | — | 69,948 | ||||||||||||||||
OPERATING INCOME (LOSS) | (30,361 | ) | 16,325 | 321,241 | — | 307,205 | |||||||||||||||
OTHER INCOME AND EXPENSE | |||||||||||||||||||||
Loss on debt extinguishments | (5,526 | ) | — | — | — | (5,526 | ) | ||||||||||||||
Fair value adjustments, net | (3,566 | ) | (8,438 | ) | (40,046 | ) | — | (52,050 | ) | ||||||||||||
Interest income and other, net | 8,871 | 1,170 | (7,372 | ) | (9,279 | ) | (6,610 | ) | |||||||||||||
Interest expense, net of capitalized interest | (6,328 | ) | (4,910 | ) | (32,815 | ) | 9,279 | (34,774 | ) | ||||||||||||
Total other income and expense, net | (6,549 | ) | (12,178 | ) | (80,233 | ) | — | (98,960 | ) | ||||||||||||
Income (loss) before income taxes | (36,910 | ) | 4,147 | 241,008 | — | 208,245 | |||||||||||||||
Income tax provision | (20,904 | ) | (440 | ) | (93,402 | ) | — | (114,746 | ) | ||||||||||||
Total income (loss) after taxes | (57,814 | ) | 3,707 | 147,606 | — | 93,499 | |||||||||||||||
Equity income (loss) in consolidated subsidiaries | 151,313 | — | — | (151,313 | ) | — | |||||||||||||||
NET INCOME (LOSS) | $ | 93,499 | $ | 3,707 | $ | 147,606 | $ | (151,313 | ) | $ | 93,499 | ||||||||||
OTHER COMPREHENSIVE INCOME (LOSS) net of tax: | |||||||||||||||||||||
Unrealized loss on available for sale securities | (4,975 | ) | — | — | — | (4,975 | ) | ||||||||||||||
Reclassification adjustments for losses included in net income | — | — | — | — | — | ||||||||||||||||
Other comprehensive loss | (4,975 | ) | — | — | — | (4,975 | ) | ||||||||||||||
COMPREHENSIVE INCOME (LOSS) | $ | 88,524 | $ | 3,707 | $ | 147,606 | $ | (151,313 | ) | $ | 88,524 | ||||||||||
CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||||||
YEAR ENDED DECEMBER 31, 2012 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
Sales of metal | $ | — | $ | 243,380 | $ | 652,112 | $ | — | $ | 895,492 | |||||||||||
Production costs applicable to sales | — | (159,151 | ) | (295,411 | ) | — | (454,562 | ) | |||||||||||||
Depreciation, depletion and amortization | (521 | ) | (49,750 | ) | (168,586 | ) | — | (218,857 | ) | ||||||||||||
Gross profit | (521 | ) | 34,479 | 188,115 | — | 222,073 | |||||||||||||||
COSTS AND EXPENSES | |||||||||||||||||||||
General and administrative | 30,699 | 1,101 | 1,177 | — | 32,977 | ||||||||||||||||
Exploration | 1,946 | 7,930 | 16,394 | — | 26,270 | ||||||||||||||||
Write-downs | — | — | 5,825 | — | 5,825 | ||||||||||||||||
Pre-development, care, maintenance and other | — | (362 | ) | 1,623 | — | 1,261 | |||||||||||||||
Total costs and expenses | 32,645 | 8,669 | 25,019 | — | 66,333 | ||||||||||||||||
OPERATING INCOME (LOSS) | (33,166 | ) | 25,810 | 163,096 | — | 155,740 | |||||||||||||||
OTHER INCOME AND EXPENSE | |||||||||||||||||||||
Loss on debt extinguishments | — | (1,036 | ) | — | — | (1,036 | ) | ||||||||||||||
Fair value adjustments, net | 3,477 | 4,089 | (31,053 | ) | — | (23,487 | ) | ||||||||||||||
Other than temporary impairment of marketable securities | (605 | ) | — | — | — | (605 | ) | ||||||||||||||
Interest income and other, net | 5,744 | 859 | 13,071 | (4,633 | ) | 15,041 | |||||||||||||||
Interest expense, net of capitalized interest | (4,158 | ) | (2,997 | ) | (23,647 | ) | 4,633 | (26,169 | ) | ||||||||||||
Total other income and expense, net | 4,458 | 915 | (41,629 | ) | — | (36,256 | ) | ||||||||||||||
Income (loss) before income taxes | (28,708 | ) | 26,725 | 121,467 | — | 119,484 | |||||||||||||||
Income tax provision | (3,844 | ) | (2,930 | ) | (64,033 | ) | — | (70,807 | ) | ||||||||||||
Total income (loss) after taxes | (32,552 | ) | 23,795 | 57,434 | — | 48,677 | |||||||||||||||
Equity income (loss) in consolidated subsidiaries | 81,229 | — | — | (81,229 | ) | — | |||||||||||||||
NET INCOME (LOSS) | $ | 48,677 | $ | 23,795 | $ | 57,434 | $ | (81,229 | ) | $ | 48,677 | ||||||||||
OTHER COMPREHENSIVE INCOME (LOSS), net of tax: | |||||||||||||||||||||
Unrealized loss on available for sale securities | (3,351 | ) | — | — | — | (3,351 | ) | ||||||||||||||
Reclassification adjustments for losses included in net income | 605 | — | — | — | 605 | ||||||||||||||||
Other comprehensive loss | (2,746 | ) | — | — | — | (2,746 | ) | ||||||||||||||
COMPREHENSIVE INCOME (LOSS) | $ | 45,931 | $ | 23,795 | $ | 57,434 | $ | (81,229 | ) | $ | 45,931 | ||||||||||
Schedule of Condensed Cash Flow Statement | ' | ||||||||||||||||||||
CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
YEAR ENDED DECEMBER 31, 2013 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||
Cash provided by operating activities | $ | (701,653 | ) | $ | 17,456 | $ | 151,491 | $ | 646,173 | 113,467 | |||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||||||||||
Purchase of short term investments and marketable securities | (2,921 | ) | (66 | ) | (5,065 | ) | — | (8,052 | ) | ||||||||||||
Proceeds from sales and maturities of short term investments | 29,274 | 75 | 5,447 | — | 34,796 | ||||||||||||||||
Capital expenditures | (3,573 | ) | (50,810 | ) | (46,430 | ) | — | (100,813 | ) | ||||||||||||
Acquisitions | (113,214 | ) | (3,684 | ) | — | — | (116,898 | ) | |||||||||||||
Other | 3,266 | 444 | 768 | — | 4,478 | ||||||||||||||||
Investments in consolidated subsidiaries | 642,617 | 68 | 3,488 | (646,173 | ) | — | |||||||||||||||
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 555,449 | (53,973 | ) | (41,792 | ) | (646,173 | ) | (186,489 | ) | ||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from issuance of notes and bank borrowings | 300,000 | — | — | — | 300,000 | ||||||||||||||||
Payments on long-term debt, capital leases, and associated costs | (52,568 | ) | (3,171 | ) | (4,889 | ) | — | (60,628 | ) | ||||||||||||
Payments on gold production royalty | — | — | (57,034 | ) | — | (57,034 | ) | ||||||||||||||
Share repurchases | (27,552 | ) | — | — | — | (27,552 | ) | ||||||||||||||
Net intercompany borrowings (lending) | (22,874 | ) | 40,279 | (17,405 | ) | — | — | ||||||||||||||
Other | (514 | ) | — | — | — | (514 | ) | ||||||||||||||
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 196,492 | 37,108 | (79,328 | ) | — | 154,272 | |||||||||||||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 50,288 | 591 | 30,371 | — | 81,250 | ||||||||||||||||
Cash and cash equivalents at beginning of period | 86,788 | 400 | 38,252 | — | 125,440 | ||||||||||||||||
Cash and cash equivalents at end of period | $ | 137,076 | $ | 991 | $ | 68,623 | $ | — | $ | 206,690 | |||||||||||
CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
YEAR ENDED DECEMBER 31, 2012 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||
Cash provided by operating activities | $ | 58,754 | $ | 37,426 | $ | 256,683 | $ | (81,229 | ) | $ | 271,634 | ||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||||||||||
Purchase of short term investments and marketable securities | (12,913 | ) | (46 | ) | — | — | (12,959 | ) | |||||||||||||
Proceeds from sales and maturities of short term investments | 21,590 | 45 | 60 | — | 21,695 | ||||||||||||||||
Capital expenditures | (1,531 | ) | (48,788 | ) | (65,322 | ) | — | (115,641 | ) | ||||||||||||
Acquisition of Joaquin mineral rights | (29,338 | ) | — | 41 | — | (29,297 | ) | ||||||||||||||
Other | 3,538 | 130 | (581 | ) | — | 3,087 | |||||||||||||||
Investments in consolidated subsidiaries | (81,229 | ) | — | — | 81,229 | — | |||||||||||||||
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (99,883 | ) | (48,659 | ) | (65,802 | ) | 81,229 | (133,115 | ) | ||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Payments on long-term debt, capital leases, and associated costs | (4,005 | ) | (79,839 | ) | (13,326 | ) | — | (97,170 | ) | ||||||||||||
Payments on gold production royalty | — | — | (74,734 | ) | — | (74,734 | ) | ||||||||||||||
Reductions of restricted assets associated with the Kensington Term Facility | — | 4,645 | — | — | 4,645 | ||||||||||||||||
Share repurchases | (19,971 | ) | — | — | — | (19,971 | ) | ||||||||||||||
Net intercompany borrowings (lending) | 67,082 | 86,394 | (153,476 | ) | — | — | |||||||||||||||
Other | (861 | ) | — | — | — | (861 | ) | ||||||||||||||
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 42,245 | 11,200 | (241,536 | ) | — | (188,091 | ) | ||||||||||||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 1,116 | (33 | ) | (50,655 | ) | — | (49,572 | ) | |||||||||||||
Cash and cash equivalents at beginning of period | 85,672 | 433 | 88,907 | — | 175,012 | ||||||||||||||||
Cash and cash equivalents at end of period | $ | 86,788 | $ | 400 | $ | 38,252 | $ | — | $ | 125,440 | |||||||||||
CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||
YEAR ENDED DECEMBER 31, 2011 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||||||||||||
Cash provided by operating activities | $ | 132,318 | $ | 38,152 | $ | 397,016 | $ | (151,313 | ) | $ | 416,173 | ||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||||||||||||
Purchase of short term investments and marketable securities | (49,321 | ) | (60 | ) | (120 | ) | — | (49,501 | ) | ||||||||||||
Proceeds from sales and maturities of short term investments | 6,138 | 48 | 60 | — | 6,246 | ||||||||||||||||
Capital expenditures | (567 | ) | (61,288 | ) | (58,133 | ) | — | (119,988 | ) | ||||||||||||
Other | 1,216 | 903 | 163 | — | 2,282 | ||||||||||||||||
Investments in consolidated subsidiaries | (151,313 | ) | — | — | 151,313 | — | |||||||||||||||
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | (193,847 | ) | (60,397 | ) | (58,030 | ) | 151,313 | (160,961 | ) | ||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||
Proceeds from issuance of notes and bank borrowings | — | 27,500 | — | — | 27,500 | ||||||||||||||||
Payments on long-term debt, capital leases, and associated costs | (37,983 | ) | (30,493 | ) | (17,043 | ) | — | (85,519 | ) | ||||||||||||
Additions to funds held financing | — | (1,326 | ) | — | — | (1,326 | ) | ||||||||||||||
Payments on gold production royalty | — | — | (73,191 | ) | — | (73,191 | ) | ||||||||||||||
Payments on gold lease facility | (13,800 | ) | — | — | — | (13,800 | ) | ||||||||||||||
Net intercompany borrowings (lending) | 163,224 | 26,239 | (189,463 | ) | — | — | |||||||||||||||
Other | 18 | — | — | — | 18 | ||||||||||||||||
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | 111,459 | 21,920 | (279,697 | ) | — | (146,318 | ) | ||||||||||||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 49,930 | (325 | ) | 59,289 | — | 108,894 | |||||||||||||||
Cash and cash equivalents at beginning of period | 35,742 | 758 | 29,618 | — | 66,118 | ||||||||||||||||
Cash and cash equivalents at end of period | $ | 85,672 | $ | 433 | $ | 88,907 | $ | — | $ | 175,012 | |||||||||||
Schedule of Condensed Balance Sheet | ' | ||||||||||||||||||||
CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
ASSETS | |||||||||||||||||||||
CURRENT ASSETS | |||||||||||||||||||||
Cash and cash equivalents | $ | 137,076 | $ | 991 | $ | 68,623 | $ | — | $ | 206,690 | |||||||||||
Investments | — | — | — | — | — | ||||||||||||||||
Receivables | 530 | 19,982 | 60,562 | — | 81,074 | ||||||||||||||||
Ore on leach pad | — | 50,495 | — | — | 50,495 | ||||||||||||||||
Metal and other inventory | — | 35,290 | 96,733 | — | 132,023 | ||||||||||||||||
Deferred tax assets | — | — | 35,008 | — | 35,008 | ||||||||||||||||
Prepaid expenses and other | 4,128 | 5,282 | 16,530 | — | 25,940 | ||||||||||||||||
141,734 | 112,040 | 277,456 | — | 531,230 | |||||||||||||||||
NON-CURRENT ASSETS | |||||||||||||||||||||
Property, plant and equipment, net | 5,980 | 143,118 | 337,175 | — | 486,273 | ||||||||||||||||
Mining properties, net | — | 235,537 | 1,515,964 | — | 1,751,501 | ||||||||||||||||
Ore on leach pad | — | 31,528 | — | — | 31,528 | ||||||||||||||||
Restricted assets | 830 | 50 | 6,134 | — | 7,014 | ||||||||||||||||
Marketable securities | — | 14,521 | — | — | 14,521 | ||||||||||||||||
Receivables | — | — | 36,574 | — | 36,574 | ||||||||||||||||
Debt issuance costs, net | 10,812 | — | — | — | 10,812 | ||||||||||||||||
Deferred tax assets | 955 | — | 234 | — | 1,189 | ||||||||||||||||
Net investment in subsidiaries | 1,242,480 | 46,215 | 1,578,799 | (2,867,494 | ) | — | |||||||||||||||
Other | 53,858 | 14,616 | 320,425 | (373,563 | ) | 15,336 | |||||||||||||||
TOTAL ASSETS | $ | 1,456,649 | $ | 597,625 | $ | 4,072,761 | $ | (3,241,057 | ) | $ | 2,885,978 | ||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
CURRENT LIABILITIES | |||||||||||||||||||||
Accounts payable | $ | 1,963 | $ | 15,864 | $ | 36,020 | $ | — | $ | 53,847 | |||||||||||
Accrued liabilities and other | 1,545 | 950 | 4,348 | — | 6,843 | ||||||||||||||||
Accrued income taxes | 34 | — | 3,085 | — | 3,119 | ||||||||||||||||
Accrued payroll and related benefits | 5,152 | 7,062 | 6,115 | — | 18,329 | ||||||||||||||||
Accrued interest payable | 9,962 | 4 | 1,063 | (1,054 | ) | 9,975 | |||||||||||||||
Debt and capital leases | — | 1,262 | 309,472 | (308,229 | ) | 2,505 | |||||||||||||||
Royalty obligations | — | 3,934 | 44,085 | — | 48,019 | ||||||||||||||||
Reclamation and mine closure | — | — | 794 | 119 | 913 | ||||||||||||||||
Deferred tax liabilities | — | — | 1,011 | — | 1,011 | ||||||||||||||||
18,656 | 29,076 | 405,993 | (309,164 | ) | 144,561 | ||||||||||||||||
NON-CURRENT LIABILITIES | |||||||||||||||||||||
Debt and capital leases | 305,335 | 255 | 64,820 | (64,280 | ) | 306,130 | |||||||||||||||
Royalty obligations | — | 17,696 | 47,446 | — | 65,142 | ||||||||||||||||
Reclamation and mine closure | — | 45,894 | 11,740 | (119 | ) | 57,515 | |||||||||||||||
Deferred tax liabilities | 37,095 | 1,618 | 517,533 | — | 556,246 | ||||||||||||||||
Other long-term liabilities | 2,467 | 544 | 22,806 | — | 25,817 | ||||||||||||||||
Intercompany payable (receivable) | (637,471 | ) | 427,085 | 210,386 | — | — | |||||||||||||||
(292,574 | ) | 493,092 | 874,731 | (64,399 | ) | 1,010,850 | |||||||||||||||
STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
Common stock | 1,028 | 250 | 122,666 | (122,916 | ) | 1,028 | |||||||||||||||
Additional paid-in capital | 2,781,164 | 79,712 | 3,258,037 | (3,337,749 | ) | 2,781,164 | |||||||||||||||
Accumulated deficit | (1,046,719 | ) | 401 | (588,666 | ) | 588,265 | (1,046,719 | ) | |||||||||||||
Accumulated other comprehensive loss | (4,906 | ) | (4,906 | ) | — | 4,906 | (4,906 | ) | |||||||||||||
1,730,567 | 75,457 | 2,792,037 | (2,867,494 | ) | 1,730,567 | ||||||||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 1,456,649 | $ | 597,625 | $ | 4,072,761 | $ | (3,241,057 | ) | $ | 2,885,978 | ||||||||||
CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Coeur Mining, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
ASSETS | |||||||||||||||||||||
CURRENT ASSETS | |||||||||||||||||||||
Cash and cash equivalents | $ | 86,788 | $ | 400 | $ | 38,252 | $ | — | $ | 125,440 | |||||||||||
Investments | 999 | — | — | — | 999 | ||||||||||||||||
Receivables | 8,520 | 7,643 | 46,275 | — | 62,438 | ||||||||||||||||
Ore on leach pad | — | 22,991 | — | — | 22,991 | ||||||||||||||||
Metal and other inventory | — | 45,906 | 124,764 | — | 170,670 | ||||||||||||||||
Deferred tax assets | — | — | 2,458 | — | 2,458 | ||||||||||||||||
Prepaid expenses and other | 3,395 | 5,947 | 11,844 | — | 21,186 | ||||||||||||||||
99,702 | 82,887 | 223,593 | — | 406,182 | |||||||||||||||||
NON-CURRENT ASSETS | |||||||||||||||||||||
Property, plant and equipment, net | 4,183 | 208,857 | 470,820 | — | 683,860 | ||||||||||||||||
Mining properties, net | — | 301,506 | 1,690,445 | — | 1,991,951 | ||||||||||||||||
Ore on leach pad | — | 21,356 | — | — | 21,356 | ||||||||||||||||
Restricted assets | 18,922 | 60 | 5,988 | — | 24,970 | ||||||||||||||||
Marketable securities | 27,065 | — | — | — | 27,065 | ||||||||||||||||
Receivables | — | — | 48,767 | — | 48,767 | ||||||||||||||||
Debt issuance costs, net | 3,713 | — | — | — | 3,713 | ||||||||||||||||
Deferred tax assets | 955 | — | — | — | 955 | ||||||||||||||||
Net investment in subsidiaries | 1,553,434 | — | 1,285,862 | (2,839,296 | ) | — | |||||||||||||||
Other | 39,120 | 12,360 | 318,330 | (357,228 | ) | 12,582 | |||||||||||||||
TOTAL ASSETS | $ | 1,747,094 | $ | 627,026 | $ | 4,043,805 | $ | (3,196,524 | ) | $ | 3,221,401 | ||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
CURRENT LIABILITIES | |||||||||||||||||||||
Accounts payable | $ | 2,954 | $ | 17,211 | $ | 37,317 | $ | — | $ | 57,482 | |||||||||||
Accrued liabilities and other | 1,418 | 4,014 | 4,570 | — | 10,002 | ||||||||||||||||
Accrued income taxes | 257 | — | 26,851 | — | 27,108 | ||||||||||||||||
Accrued payroll and related benefits | 7,477 | 8,158 | 5,671 | — | 21,306 | ||||||||||||||||
Accrued interest payable | 463 | 5 | 1,002 | (992 | ) | 478 | |||||||||||||||
Debt and capital leases | 48,081 | 3,013 | 309,539 | (304,650 | ) | 55,983 | |||||||||||||||
Royalty obligations | — | — | 65,104 | — | 65,104 | ||||||||||||||||
Reclamation and mine closure | — | — | 1,445 | (777 | ) | 668 | |||||||||||||||
Deferred tax liabilities | — | — | 121 | — | 121 | ||||||||||||||||
60,650 | 32,401 | 451,620 | (306,419 | ) | 238,252 | ||||||||||||||||
NON-CURRENT LIABILITIES | |||||||||||||||||||||
Debt and capital leases | — | 1,675 | 53,367 | (51,582 | ) | 3,460 | |||||||||||||||
Royalty obligations | — | — | 141,879 | — | 141,879 | ||||||||||||||||
Reclamation and mine closure | — | 23,149 | 10,744 | 777 | 34,670 | ||||||||||||||||
Deferred tax liabilities | 115,425 | — | 462,063 | — | 577,488 | ||||||||||||||||
Other long-term liabilities | 955 | 8,086 | 18,331 | — | 27,372 | ||||||||||||||||
Intercompany payable (receivable) | (628,216 | ) | 390,480 | 237,736 | — | — | |||||||||||||||
(511,836 | ) | 423,390 | 924,120 | (50,805 | ) | 784,869 | |||||||||||||||
STOCKHOLDERS’ EQUITY | |||||||||||||||||||||
Common stock | 903 | 350 | 22,760 | (23,110 | ) | 903 | |||||||||||||||
Additional paid-in capital | 2,601,254 | 107,734 | 2,748,173 | (2,855,907 | ) | 2,601,254 | |||||||||||||||
Accumulated deficit | (396,156 | ) | 63,151 | (102,868 | ) | 39,717 | (396,156 | ) | |||||||||||||
Accumulated other comprehensive loss | (7,721 | ) | — | — | — | (7,721 | ) | ||||||||||||||
2,198,280 | 171,235 | 2,668,065 | (2,839,300 | ) | 2,198,280 | ||||||||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 1,747,094 | $ | 627,026 | $ | 4,043,805 | $ | (3,196,524 | ) | $ | 3,221,401 | ||||||||||
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||||||
Supplemental Cash Flow Information | ' | |||||||||||
The following table sets forth non-cash financing and investing activities and other cash flow information for the years ended: | ||||||||||||
Year Ended December 31, | ||||||||||||
Non-cash financing and investing activities: | 2013 | 2012 | 2011 | |||||||||
Capital expenditures(1) | $ | 1,183 | $ | 3,402 | $ | 2,936 | ||||||
Capital lease obligations | — | 1,857 | 4,510 | |||||||||
Non-cash capitalized interest | 2,694 | 845 | 681 | |||||||||
Non-cash acquisitions and related deferred taxes | 317,826 | 64,133 | — | |||||||||
Other cash flow information: | ||||||||||||
Interest paid | 14,139 | 6,092 | 11,033 | |||||||||
Capitalized interest | 2,694 | 2,663 | 2,175 | |||||||||
Income taxes paid | 26,585 | 54,680 | 44,396 | |||||||||
-1 | Accrued capital expenditures are recognized in the consolidated statements of cash flows in the period in which they are paid. |
Summary_of_Quarterly_Financial1
Summary of Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||
Summary of quarterly results of operations | ' | |||||||||||||||
The following table sets forth a summary of the unaudited quarterly results of operations for the years ended December 31, 2013 and 2012 (in thousands, except per share data): | ||||||||||||||||
Q1 | Q2 | Q3 | Q4 | |||||||||||||
2013 | ||||||||||||||||
Sales of metals | $ | 171,797 | $ | 204,525 | $ | 200,825 | $ | 168,847 | ||||||||
Net income (loss) | 12,270 | (35,040 | ) | (46,265 | ) | (581,528 | ) | |||||||||
Amortization | 50,436 | 57,653 | 60,874 | 63,916 | ||||||||||||
Production costs | 88,784 | 142,924 | 131,728 | 100,227 | ||||||||||||
Exploration expenses | 6,841 | 6,774 | 3,305 | 5,440 | ||||||||||||
Other operating expenses (general and administrative, pre-development, and write-downs) | 14,831 | 48,131 | 20,195 | 789,094 | ||||||||||||
Cash provided by operating activities | 12,934 | 63,338 | 26,804 | 10,391 | ||||||||||||
Capital expenditures | 12,827 | 27,201 | 32,726 | 28,059 | ||||||||||||
Basic net income (loss) per share | $ | 0.14 | $ | (0.35 | ) | $ | (0.46 | ) | $ | (5.77 | ) | |||||
Diluted net income (loss) per share | $ | 0.14 | $ | (0.35 | ) | $ | (0.46 | ) | $ | (5.77 | ) | |||||
Q1 | Q2 | Q3 | Q4 | |||||||||||||
2012 | ||||||||||||||||
Sales of metals | $ | 204,564 | $ | 254,406 | $ | 230,593 | $ | 205,929 | ||||||||
Net income (loss) | 3,975 | 22,973 | (15,821 | ) | 37,550 | |||||||||||
Amortization | 52,592 | 61,024 | 52,844 | 52,397 | ||||||||||||
Production costs | 92,542 | 131,182 | 124,365 | 106,473 | ||||||||||||
Exploration expenses | 6,567 | 6,305 | 6,957 | 6,441 | ||||||||||||
Other operating expenses | 8,664 | 13,680 | 11,836 | 5,883 | ||||||||||||
Cash provided by operating activities | 17,002 | 113,203 | 79,735 | 61,694 | ||||||||||||
Capital expenditures | 31,647 | 32,238 | 29,972 | 21,784 | ||||||||||||
Basic net income (loss) per share | $ | 0.04 | $ | 0.26 | $ | (0.18 | ) | $ | 0.42 | |||||||
Diluted net income (loss) per share | $ | 0.04 | $ | 0.26 | $ | (0.18 | ) | $ | 0.42 | |||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Building and Building Improvements [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '7 years |
Building and Building Improvements [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '31 years |
Machinery and Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Machinery and Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '13 years |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Accounting Policies [Abstract] | ' | ' |
Reported ore on the leach pads, total assets | $82,000,000 | $44,300,000 |
Reported ore on the leach pads, current assets | 50,495,000 | 22,991,000 |
Reported ore on the leach pads, non-current assets | 31,528,000 | 21,356,000 |
Drilling and Related Costs | $11,600,000 | $13,900,000 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details Textual) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 |
Accounting Policies [Abstract] | ' | ' | ' |
Maturity of cash and cash equivalents include all highly-liquid investments | ' | 'three months | ' |
Maturity Period of Certificates of Deposits | 'three months to a year | ' | ' |
Certificates of deposit and cash | $7,014 | ' | $24,970 |
Segment_Reporting_Details
Segment Reporting (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | $168,847 | $200,825 | $204,525 | $171,797 | $205,929 | $230,593 | $254,406 | $204,564 | $745,994 | $895,492 | $1,021,200 | |||||
Production costs applicable to sales | -100,227 | -131,728 | -142,924 | -88,784 | -106,473 | -124,365 | -131,182 | -92,542 | -463,663 | -454,562 | -419,547 | |||||
Amortization | -63,916 | -60,874 | -57,653 | -50,436 | -52,397 | -52,844 | -61,024 | -52,592 | -232,879 | -218,857 | -224,500 | |||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 49,452 | 222,073 | 377,153 | |||||
Exploration | 5,440 | 3,305 | 6,774 | 6,841 | 6,441 | 6,957 | 6,305 | 6,567 | 22,360 | 26,270 | 19,128 | |||||
Write-downs | ' | ' | ' | ' | ' | ' | ' | ' | 772,993 | 5,825 | 0 | |||||
Other operating expenses | 789,094 | 20,195 | 48,131 | 14,831 | 5,883 | 11,836 | 13,680 | 8,664 | ' | ' | ' | |||||
OPERATING INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -845,159 | 155,740 | 307,205 | |||||
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | 13,323 | 15,041 | -6,610 | |||||
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -41,303 | -26,169 | -34,774 | |||||
Loss on debt extinguishments | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -1,036 | -5,526 | |||||
Fair value adjustments, net | ' | ' | ' | ' | ' | ' | ' | ' | 82,768 | -23,487 | -52,050 | |||||
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | 158,116 | -70,807 | -114,746 | |||||
Net income | -581,528 | -46,265 | -35,040 | 12,270 | 37,550 | -15,821 | 22,973 | 3,975 | -650,563 | 48,677 | 93,499 | |||||
Segment assets | ' | ' | ' | ' | 2,974,056 | ' | ' | ' | ' | 2,974,056 | 2,963,130 | |||||
Capital expenditures | 28,059 | 32,726 | 27,201 | 12,827 | 21,784 | 29,972 | 32,238 | 31,647 | 100,813 | 115,641 | 119,988 | |||||
Palmarejo [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Production costs applicable to sales | ' | ' | ' | ' | ' | ' | ' | ' | -188,572 | -197,478 | -186,201 | |||||
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | -134,240 | -146,595 | -159,264 | |||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 1,228 | 98,025 | 167,632 | |||||
Exploration | ' | ' | ' | ' | ' | ' | ' | ' | 7,161 | 7,575 | 6,863 | |||||
Write-downs | ' | ' | ' | ' | ' | ' | ' | ' | 642,094 | 0 | ' | |||||
Other operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 11 | 949 | |||||
OPERATING INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -648,027 | 90,439 | 159,820 | |||||
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | 906 | 4,017 | -9,099 | |||||
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -15,123 | -18,938 | -23,453 | |||||
Loss on debt extinguishments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | |||||
Fair value adjustments, net | ' | ' | ' | ' | ' | ' | ' | ' | 76,218 | -31,054 | -40,046 | |||||
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | 107,748 | -18,066 | -28,023 | |||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | -478,278 | 26,398 | 59,199 | |||||
Segment assets | 1,164,852 | [1] | ' | ' | ' | 1,905,269 | [1] | ' | ' | ' | 1,164,852 | [1] | 1,905,269 | [1] | 2,029,769 | [1] |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 33,730 | [1] | 38,456 | [1] | 36,976 | [1] | ||
San Bartolome [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Production costs applicable to sales | ' | ' | ' | ' | ' | ' | ' | ' | -86,827 | -71,428 | -79,679 | |||||
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | -19,565 | -16,709 | -22,410 | |||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 35,329 | 89,868 | 165,413 | |||||
Exploration | ' | ' | ' | ' | ' | ' | ' | ' | 111 | 159 | 248 | |||||
Write-downs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||
Other operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 5,743 | 80 | 342 | |||||
OPERATING INCOME | ' | ' | ' | ' | ' | ' | ' | ' | 29,475 | 89,629 | 164,823 | |||||
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | 2,582 | 9,719 | 156 | |||||
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -74 | -72 | -45 | |||||
Loss on debt extinguishments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | |||||
Fair value adjustments, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -10,938 | -44,632 | -59,867 | |||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 21,045 | 54,644 | 105,067 | |||||
Segment assets | 289,272 | [1] | ' | ' | ' | 302,922 | [1] | ' | ' | ' | 289,272 | [1] | 302,922 | [1] | 276,423 | [1] |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 11,568 | [1] | 25,672 | [1] | 17,731 | [1] | ||
Kensington [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | ' | ' | ' | ' | ' | ' | ' | ' | 148,769 | 110,987 | 151,186 | |||||
Production costs applicable to sales | ' | ' | ' | ' | ' | ' | ' | ' | -104,575 | -87,089 | -101,672 | |||||
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | -63,216 | -41,645 | -35,839 | |||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -19,022 | -17,747 | 13,675 | |||||
Exploration | ' | ' | ' | ' | ' | ' | ' | ' | 4,199 | 3,283 | 1,102 | |||||
Write-downs | ' | ' | ' | ' | ' | ' | ' | ' | 130,694 | 0 | ' | |||||
Other operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 269 | 74 | 317 | |||||
OPERATING INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -154,184 | -21,104 | 12,256 | |||||
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | -187 | -77 | 4 | |||||
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -424 | -2,972 | -4,889 | |||||
Loss on debt extinguishments | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,036 | 0 | |||||
Fair value adjustments, net | ' | ' | ' | ' | ' | ' | ' | ' | 7,480 | 4,089 | -8,438 | |||||
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -1 | 0 | -31 | |||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | -147,316 | -21,100 | -1,098 | |||||
Segment assets | 343,144 | [1] | ' | ' | ' | 508,658 | [1] | ' | ' | ' | 343,144 | [1] | 508,658 | [1] | 507,891 | [1] |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 21,404 | [1] | 36,994 | [1] | 34,013 | [1] | ||
Rochester [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | ' | ' | ' | ' | ' | ' | ' | ' | 119,254 | 132,392 | 57,331 | |||||
Production costs applicable to sales | ' | ' | ' | ' | ' | ' | ' | ' | -77,869 | -72,061 | -27,848 | |||||
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | -10,571 | -8,065 | -2,824 | |||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 30,814 | 52,266 | 26,659 | |||||
Exploration | ' | ' | ' | ' | ' | ' | ' | ' | 2,653 | 3,591 | 1,989 | |||||
Write-downs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||
Other operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 34,584 | 1,401 | 19,931 | |||||
OPERATING INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -6,423 | 47,274 | 4,739 | |||||
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | -318 | 358 | 57 | |||||
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -20 | -26 | -21 | |||||
Loss on debt extinguishments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | |||||
Fair value adjustments, net | ' | ' | ' | ' | ' | ' | ' | ' | 416 | 0 | 0 | |||||
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -2,332 | -2,195 | -409 | |||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | -8,677 | 45,411 | 4,366 | |||||
Segment assets | 176,789 | [1] | ' | ' | ' | 104,373 | [1] | ' | ' | ' | 176,789 | [1] | 104,373 | [1] | 76,852 | [1] |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 29,406 | [1] | 11,794 | [1] | 27,217 | [1] | ||
Martha [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Production costs applicable to sales | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -17,682 | -15,513 | |||||
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | -438 | -692 | -556 | |||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -1,099 | -5,212 | -2,722 | |||||
Exploration | ' | ' | ' | ' | ' | ' | ' | ' | 4,485 | 8,648 | 6,367 | |||||
Write-downs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 5,825 | ' | |||||
Other operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,650 | 2,108 | 156 | |||||
OPERATING INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -8,234 | -21,793 | -9,245 | |||||
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | 865 | -1,153 | -544 | |||||
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -1 | -3 | -458 | |||||
Loss on debt extinguishments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | |||||
Fair value adjustments, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -137 | 976 | -1,219 | |||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | -7,507 | -21,973 | -11,466 | |||||
Segment assets | 6,168 | [1] | ' | ' | ' | 9,813 | [1] | ' | ' | ' | 6,168 | [1] | 9,813 | [1] | 19,717 | [1] |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 10 | [1] | 1,193 | [1] | 3,426 | [1] | ||
La Preciosa [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||||
Production costs applicable to sales | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||||
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | -24 | ' | ' | |||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -24 | ' | ' | |||||
Exploration | ' | ' | ' | ' | ' | ' | ' | ' | 80 | ' | ' | |||||
Write-downs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||||
Other operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 3,237 | ' | ' | |||||
OPERATING INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -3,341 | ' | ' | |||||
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | |||||
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||||
Fair value adjustments, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||||
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -20,856 | ' | ' | |||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | -24,182 | ' | ' | |||||
Segment assets | 410,335 | [1] | ' | ' | ' | ' | ' | ' | ' | 410,335 | [1] | ' | ' | |||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 1,122 | [1] | ' | ' | ||||
Coeur Capital [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | ' | ' | ' | ' | ' | ' | ' | ' | 12,871 | 18,848 | 18,737 | |||||
Production costs applicable to sales | ' | ' | ' | ' | ' | ' | ' | ' | -5,818 | -8,824 | -8,634 | |||||
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | -3,755 | -4,632 | -3,155 | |||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 3,298 | 5,392 | 6,948 | |||||
Exploration | ' | ' | ' | ' | ' | ' | ' | ' | 2,069 | 1,056 | 662 | |||||
Write-downs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | |||||
Other operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1,397 | -736 | -1 | |||||
OPERATING INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -168 | 5,072 | 6,287 | |||||
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | -19,474 | -77 | 1,108 | |||||
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Loss on debt extinguishments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | |||||
Fair value adjustments, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | 2,179 | -327 | 0 | |||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | -17,463 | 4,668 | 7,395 | |||||
Segment assets | 62,678 | [1] | ' | ' | ' | 32,656 | [1] | ' | ' | ' | 62,678 | [1] | 32,656 | [1] | 36,349 | [1] |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 59 | |||||
Other Mining Properties [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Production costs applicable to sales | ' | ' | ' | ' | ' | ' | ' | ' | -2 | 0 | 0 | |||||
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | -1,070 | -519 | -452 | |||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -1,072 | -519 | -452 | |||||
Exploration | ' | ' | ' | ' | ' | ' | ' | ' | 1,602 | 1,958 | 1,897 | |||||
Write-downs | ' | ' | ' | ' | ' | ' | ' | ' | 205 | 0 | ' | |||||
Other operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 51,378 | 31,300 | 29,126 | |||||
OPERATING INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -54,257 | -33,777 | -31,475 | |||||
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | 10,626 | 1,649 | 1,708 | |||||
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -25,661 | -4,158 | -5,908 | |||||
Loss on debt extinguishments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -5,526 | |||||
Fair value adjustments, net | ' | ' | ' | ' | ' | ' | ' | ' | -1,346 | 3,478 | -3,566 | |||||
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | 82,453 | -6,563 | -25,197 | |||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 11,815 | -39,371 | -69,964 | |||||
Segment assets | 105,581 | ' | ' | ' | 110,365 | ' | ' | ' | 105,581 | 110,365 | 16,129 | |||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 3,573 | 1,532 | 566 | |||||
Total [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | ' | ' | ' | ' | ' | ' | ' | ' | 745,994 | 895,492 | 1,021,200 | |||||
Production costs applicable to sales | ' | ' | ' | ' | ' | ' | ' | ' | 463,663 | -454,562 | -419,547 | |||||
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 232,879 | -218,857 | -224,500 | |||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 49,452 | 222,073 | 377,153 | |||||
Exploration | ' | ' | ' | ' | ' | ' | ' | ' | 22,360 | 26,270 | 19,128 | |||||
Write-downs | ' | ' | ' | ' | ' | ' | ' | ' | 772,993 | 5,825 | ' | |||||
Other operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 99,258 | 34,238 | 50,820 | |||||
OPERATING INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -845,159 | 155,740 | 307,205 | |||||
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | -4,985 | 14,436 | -6,610 | |||||
Interest expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 41,303 | -26,169 | -34,774 | |||||
Loss on debt extinguishments | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,036 | -5,526 | |||||
Fair value adjustments, net | ' | ' | ' | ' | ' | ' | ' | ' | 82,768 | -23,487 | -52,050 | |||||
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -158,116 | -70,807 | -114,746 | |||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | -650,563 | 48,677 | 93,499 | |||||
Segment assets | 2,558,819 | [1] | ' | ' | ' | 2,974,056 | [1] | ' | ' | ' | 2,558,819 | [1] | 2,974,056 | [1] | 2,963,130 | [1] |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 100,813 | 115,641 | 119,988 | |||||
Bolivia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | ' | ' | ' | ' | ' | ' | ' | ' | ' | 178,005 | 267,502 | |||||
Bolivia [Member] | San Bartolome [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | ' | ' | ' | ' | ' | ' | ' | ' | 141,721 | 178,005 | 267,502 | |||||
Argentina [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,162 | 13,347 | |||||
Argentina [Member] | Martha [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | ' | ' | ' | ' | ' | ' | ' | ' | -661 | 13,162 | 13,347 | |||||
Mexico [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | ' | ' | ' | ' | ' | ' | ' | ' | ' | 442,098 | 513,097 | |||||
Mexico [Member] | Palmarejo [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Financial information relating to reporting segments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sales of metal | ' | ' | ' | ' | ' | ' | ' | ' | $324,040 | $442,098 | $513,097 | |||||
[1] | (1) Segment assets consist of receivables, prepaids, inventories, property, plant and equipment, and mining properties |
Segment_Reporting_Details_1
Segment Reporting (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||
Assets | ' | ' | ' | ' | ' | ' |
Total assets for reportable segments | ' | $2,974,056 | ' | $2,963,130 | ' | ' |
Cash and cash equivalents | 206,690 | 125,440 | 175,012 | 175,012 | 66,118 | 66,118 |
Short term investments | 0 | 999 | ' | 20,254 | ' | ' |
Other assets | 120,469 | 120,906 | ' | 106,045 | ' | ' |
TOTAL ASSETS | $2,885,978 | $3,221,401 | ' | $3,264,441 | ' | ' |
Segment_Reporting_Details_2
Segment Reporting (Details 2) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Long Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets, Total | $2,237,774 | ' | ' | ' | $2,675,811 | ' | ' | ' | $2,237,774 | $2,675,811 | $2,688,703 |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | 168,847 | 200,825 | 204,525 | 171,797 | 205,929 | 230,593 | 254,406 | 204,564 | 745,994 | 895,492 | 1,021,200 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets in Entity's Country of Domicile | 384,626 | ' | ' | ' | 608,051 | ' | ' | ' | 384,626 | 608,051 | 515,096 |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 268,023 | 243,379 | 208,517 |
Australia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets in Individual Foreign Countries | 25,668 | ' | ' | ' | 29,408 | ' | ' | ' | 25,668 | 29,408 | 33,999 |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,848 | 18,737 |
Argentina [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets in Individual Foreign Countries | 94,705 | ' | ' | ' | 1,705 | ' | ' | ' | 94,705 | 1,705 | 5,213 |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,162 | 13,347 |
Bolivia [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets in Individual Foreign Countries | 235,085 | ' | ' | ' | 240,905 | ' | ' | ' | 235,085 | 240,905 | 230,956 |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 178,005 | 267,502 |
Mexico [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets in Individual Foreign Countries | 1,487,228 | ' | ' | ' | 1,795,677 | ' | ' | ' | 1,487,228 | 1,795,677 | 1,903,374 |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 442,098 | 513,097 |
Other Foreign Countries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Lived Assets in Individual Foreign Countries | $10,462 | ' | ' | ' | $65 | ' | ' | ' | $10,462 | $65 | $65 |
Segment_Reporting_Segment_Repo
Segment Reporting Segment Reporting (Details 3) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Auramet [Member] | Palmarejo, San Bartolome, Kensington, Rochester [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Revenues | $111.70 | $94.60 | $50.80 |
Toronto-Dominion Bank [Member] | Palmarejo, Rochester [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Revenues | 106.7 | 65.8 | 0 |
INTL Commodities [Member] | Palmarejo, San Bartolome, Rochester [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Revenues | 84.6 | 58 | 112.6 |
China Gold [Member] | Kensington [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Revenues | 81.5 | 43.8 | 108.9 |
Valcambi [Member] | Palmarejo, San Bartolome [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Revenues | 77.2 | 414.4 | 385.5 |
Mitsui [Member] | Palmarejo, Rochester [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Revenues | $70.30 | $65.60 | $105.10 |
Segment_Reporting_Details_Text
Segment Reporting (Details Textual) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | $168,847 | $200,825 | $204,525 | $171,797 | $205,929 | $230,593 | $254,406 | $204,564 | $745,994 | $895,492 | $1,021,200 |
Silver [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 394,500 | 549,700 | 662,600 |
Gold [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | $351,500 | $345,800 | $358,600 |
Metals [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Trading Counterparties | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' |
Metals [Member] | Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 72.00% | 91.00% | 82.00% |
Gold and Silver [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Trading Counterparties | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' |
Gold and Silver [Member] | Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 28.00% | 9.00% | 18.00% |
WriteDowns_Details
Write-Downs (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | $772,993 | $5,825 | $0 |
Palmarejo [Member] | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | 642,100 | ' | ' |
Kensington [Member] | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | 130,700 | ' | ' |
Property, Plant and Equipment [Member] | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | 151,092 | 0 | 0 |
Property, Plant and Equipment [Member] | Palmarejo [Member] | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | 102,735 | 0 | 0 |
Property, Plant and Equipment [Member] | Kensington [Member] | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | 48,357 | 0 | 0 |
Mining Properties [Member] | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | 621,901 | 5,825 | 0 |
Mining Properties [Member] | Palmarejo [Member] | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | 539,359 | 0 | 0 |
Mining Properties [Member] | Kensington [Member] | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | 82,337 | 0 | 0 |
Mining Properties [Member] | Martha [Member] | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | $205 | $5,825 | $0 |
WriteDowns_WriteDowns_Details_
Write-Downs Write-Downs (Details Textual) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | $772,993,000 | $5,825,000 | $0 |
Palmarejo [Member] | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | 642,100,000 | ' | ' |
Impairment, tax benefit | 179,800,000 | ' | ' |
Kensington [Member] | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' |
Write-downs | $130,700,000 | ' | ' |
Reclamation_and_Mine_Closure_D
Reclamation and Mine Closure (Details) (USD $) | 3 Months Ended | 15 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Asset retirement obligation | ' | ' | ' |
Asset retirement obligation - Beginning | ' | ' | $32,714,000 |
Accretion | 3,442,000 | 2,911,000 | ' |
Addition and changes in estimates | 20,236,000 | -1,073,000 | ' |
Settlements | -681,000 | -95,000 | ' |
Asset retirement obligation - December 31 | 57,454,000 | 34,457,000 | 32,714,000 |
Reclamation and Mine Closure (Textual) [Abstract] | ' | ' | ' |
Accrued reclamation liabilities | $1,000,000 | $900,000 | ' |
StockBased_Compensation_Plans_1
Stock-Based Compensation Plans (Details) (Stock Options [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Weighted average fair value of stock options granted | $12.60 | $15.77 | $17.85 |
Expected volatility | 76.74% | 70.56% | 72.56% |
Expected life | '5 years 0 months | '5 years 6 months | '6 years 0 months |
Risk-free interest rate | 0.84% | 0.89% | 2.30% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
StockBased_Compensation_Plans_2
Stock-Based Compensation Plans (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Stock options, Shares, Beginning balance | 370,000 | 321,607 | 330,840 |
Stock options, Granted, Shares | 190,452 | 151,102 | 139,916 |
Stock options, Exercised, Shares | -13,027 | -40,173 | -129,785 |
Stock options, Shares, Canceled/Forfeited | -131,855 | -62,536 | -19,364 |
Stock options, Shares, Ending balance | 415,570 | 370,000 | 321,607 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' |
Stock options, Weighted Average Exercise Price, Beginning balance | $30.20 | $24.60 | $24.60 |
Stock options, Weighted average exercise, granted | $20.41 | $26.97 | $27.39 |
Stock options, Weighted average exercise, exercised | $10.77 | $11.84 | $11.41 |
Stock options, Weighted average exercise, Canceled/Forfeited | $29.30 | $29.22 | $40.16 |
Stock options, Weighted Average Exercise Price, Ending balance | $27.36 | $30.20 | $24.60 |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward] | ' | ' | ' |
SAR's, Shares, Beginning balance | 68,865 | 107,639 | 230,563 |
SAR's, Granted, Shares | 0 | 0 | 0 |
SAR's, Shares, Exercised | -6,617 | -34,385 | -119,801 |
SAR's, Shares, Canceled/Forfeited | -12,039 | -4,389 | -3,123 |
SAR's, Shares, Ending balance | 50,209 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
SAR's, Weighted Average Exercise Price, Beginning balance | $13.83 | $13.46 | $13.46 |
SAR's, Weighted Average Exercise, Granted | $0 | $0 | $0 |
SAR's, Weighted Average Exercise, Exercised | $13.14 | $12.73 | $13.10 |
SAR's, Weighted Average Exercise, Canceled/Forfeited | $15.40 | $15.40 | $14.46 |
SAR's, Weighted Average Exercise Price, Ending balance | $14.15 | $13.83 | $13.46 |
StockBased_Compensation_Plans_3
Stock-Based Compensation Plans (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
$ 0.00-$10.00 | $10.00-$20.00 | $20.00-$30.00 | $30.00-$40.00 | $40.00-$50.00 | $50.00-$60.00 | $60.00-$70.00 | $70.00-$80.00 | |||||
Exercise Price Range [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Outstanding Options | ' | ' | ' | ' | 13,262,000 | 99,245,000 | 227,896,000 | 38,369,000 | 14,386,000 | 9,544,000 | 3,219,000 | 9,649,000 |
Outstanding Options, Weighted Average Exercise Price | ' | ' | ' | ' | $10 | $17.25 | $26.07 | $39 | $48.50 | $51.40 | $66.60 | $70.90 |
Outstanding Options, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | '5 years 1 month 2 days | '9 years 2 months 16 days | '6 years 7 months 10 days | '1 year 3 months | '1 year 4 months 2 days | '10 months 28 days | '7 days | '1 month 21 days |
Number of Exercisable Options | ' | ' | ' | ' | 13,262,000 | 3,936,000 | 99,310,000 | 37,515,000 | 14,386,000 | 9,544,000 | 3,219,000 | 9,649,000 |
Exercisable Options, Weighted Average Exercise Price | ' | ' | ' | ' | $10 | $19.01 | $27.29 | $39.09 | $48.50 | $51.40 | $66.60 | $70.90 |
Exercisable Options, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | '5 years 1 month 2 days | '8 years 4 months 6 days | '4 years 0 months 18 days | '1 year 1 month 13 days | '1 year 4 months 2 days | '10 months 28 days | '7 days | '1 month 21 days |
Range of Exercise Price, Lower Range | ' | ' | ' | ' | $0 | $10 | $20 | $30 | $40 | $50 | $60 | $70 |
Range of Exercise Price, Upper Range | ' | ' | ' | ' | $10 | $20 | $30 | $40 | $50 | $60 | $70 | $80 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 415,570,000 | 370,000,000 | 321,607,000 | 330,840,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $27.36 | $30.20 | $24.60 | $24.60 | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 190,821,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $33.91 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Plans_4
Stock-Based Compensation Plans (Details 3) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' |
Outstanding, beginning balance | 239,698 | 173,509 | 64,623 |
Granted, Number of Shares | 573,467 | 230,096 | 205,463 |
Vested, Number of Shares | -90,963 | -95,336 | -85,323 |
Cancelled/forfeited, Number of Shares | -109,116 | -68,571 | -11,254 |
Outstanding, Ending Balance | 613,086 | 239,698 | 173,509 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
Weighted Average Grant Date Fair Value, beginning balance | $25.38 | $11.37 | $11.37 |
Granted, Weighted Average Exercise Price | $15.38 | $26.40 | $27.37 |
Vested, Weighted Average Exercise Price | $26.83 | $23.15 | $19.36 |
Cancelled/forfeited, Weighted Average Grant Date Fair Value | $23.30 | $27.43 | $26.89 |
Weighted Average Grant Date Fair Value, Ending Balance | $16.68 | $25.38 | $11.37 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' |
Outstanding, beginning balance | 11,411 | 45,518 | 126,416 |
Granted, Number of Shares | 0 | 0 | 0 |
Vested, Number of Shares | -11,411 | -31,456 | -79,014 |
Cancelled/forfeited, Number of Shares | 0 | -2,651 | -1,884 |
Outstanding, Ending Balance | 0 | 11,411 | 45,518 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
Weighted Average Grant Date Fair Value, beginning balance | $24.14 | $27.32 | $27.32 |
Granted, Weighted Average Exercise Price | $0 | $0 | $0 |
Vested, Weighted Average Exercise Price | $22.74 | $25.92 | $27.87 |
Cancelled/forfeited, Weighted Average Grant Date Fair Value | $0 | $24.60 | $25.03 |
Weighted Average Grant Date Fair Value, Ending Balance | $0 | $24.14 | $27.32 |
Performance Shares [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' |
Outstanding, beginning balance | 109,159,000 | 105,929,000 | 100,828,000 |
Granted, Number of Shares | 173,773,000 | 145,508,000 | 81,489,000 |
Vested, Number of Shares | -4,160,000 | -111,703,000 | -56,830,000 |
Cancelled/forfeited, Number of Shares | -68,377,000 | -30,575,000 | -19,558,000 |
Outstanding, Ending Balance | 210,395,000 | 109,159,000 | 105,929,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
Weighted Average Grant Date Fair Value, beginning balance | $26.92 | $16.29 | $16.29 |
Granted, Weighted Average Exercise Price | $23.35 | $25.78 | $42.72 |
Vested, Weighted Average Exercise Price | $30.97 | $7.96 | $23.24 |
Cancelled/forfeited, Weighted Average Grant Date Fair Value | $34.49 | $42.11 | $48.62 |
Weighted Average Grant Date Fair Value, Ending Balance | $28.04 | $26.92 | $16.29 |
Performance Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' | ' |
Outstanding, beginning balance | 34,239,000 | 84,539,000 | 145,023,000 |
Granted, Number of Shares | 34,239,000 | 32,498,000 | 0 |
Vested, Number of Shares | -68,478,000 | -74,845,000 | -57,948,000 |
Cancelled/forfeited, Number of Shares | 0 | -7,953,000 | -2,536,000 |
Outstanding, Ending Balance | 0 | 34,239,000 | 84,539,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
Weighted Average Grant Date Fair Value, beginning balance | $39.78 | $35.41 | $35.41 |
Granted, Weighted Average Exercise Price | $38.02 | $0 | $0 |
Vested, Weighted Average Exercise Price | $38.02 | $31.17 | $24.68 |
Cancelled/forfeited, Weighted Average Grant Date Fair Value | $0 | $49.20 | $25.03 |
Weighted Average Grant Date Fair Value, Ending Balance | $0 | $39.78 | $35.41 |
StockBased_Compensation_Plans_5
Stock-Based Compensation Plans (Details Textual) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Unrecognized stock-based compensation cost | $7 | ' | ' |
Unrecognized stock-based compensation cost, weighted-average period recognized | '1 year 8 months 12 days | ' | ' |
Stock options exercisable | 190,821,000 | ' | ' |
Weighted average exercise price to exercise stock options exercisable | $33.91 | ' | ' |
Stock Appreciation Rights (SARs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Cash used to settle awards | 0 | 0.4 | 1.9 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Cash used to settle awards | 0.2 | 0.9 | 2.2 |
Performance Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Cash used to settle awards | 1.2 | 2.1 | 1.4 |
Stock Options and Stock Appreciation Rights [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Unrecognized stock-based compensation cost | 0.9 | ' | ' |
Unrecognized stock-based compensation cost, weighted-average period recognized | '1 year 4 months 24 days | ' | ' |
Restricted stock and restricted stock unit [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Unrecognized stock-based compensation cost | 3.6 | ' | ' |
Unrecognized stock-based compensation cost, weighted-average period recognized | '1 year 8 months 24 days | ' | ' |
Performance Shares and Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Unrecognized stock-based compensation cost | 2.4 | ' | ' |
Unrecognized stock-based compensation cost, weighted-average period recognized | '1 year 10 months 18 days | ' | ' |
Annual Incentive Plan and Long Term Incentive Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Compensation expense for stock based compensation awards | $4.80 | $8 | $8.10 |
Defined_Contribution_and_401k_1
Defined Contribution and 401(k) Plans (Details) (Retirement Savings Plan under Section 401 (k) [Member], USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Retirement Savings Plan under Section 401 (k) [Member] | ' | ' | ' | ' |
Additional Defined Contribution And 401(k) (Textual) [Abstract] | ' | ' | ' | ' |
Percentage of maximum limit for employees to contribute their cash compensation | 75.00% | ' | ' | ' |
Percentage of employee compensation plus matching contribution | 100.00% | ' | ' | ' |
Percentage of employee contribution | 3.00% | ' | ' | ' |
Percentage of employers matching contribution | 50.00% | ' | ' | ' |
Percentage of additional employee contribution | 2.00% | ' | ' | ' |
Total plan expenses | ' | $4.10 | $4.10 | $2.90 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Deferred: | ' | ' | ' |
Income tax provision from continuing operations | $158,116 | ($70,807) | ($114,746) |
Components of loss from continuing operations before income taxes | ' | ' | ' |
United States | -242,562 | -3,443 | -38,372 |
Foreign | -566,117 | 122,927 | 246,617 |
Income before income taxes | -808,679 | 119,484 | 208,245 |
United States - Alternative minimum tax [Member] | ' | ' | ' |
Current: | ' | ' | ' |
Federal tax expense (benefit) | 4 | -257 | 2,015 |
United States - State Mining Taxes [Member] | ' | ' | ' |
Current: | ' | ' | ' |
Federal tax expense (benefit) | -714 | -2,195 | -409 |
United States - Foreign withholding tax [Member] | ' | ' | ' |
Current: | ' | ' | ' |
Federal tax expense (benefit) | 397 | -736 | -842 |
Argentina [Member] | ' | ' | ' |
Current: | ' | ' | ' |
Foreign tax expense (benefit) | -137 | 976 | -1,219 |
Deferred: | ' | ' | ' |
Foreign tax expense (benefit) | 8,062 | 0 | 0 |
Australia [Member] | ' | ' | ' |
Current: | ' | ' | ' |
Foreign tax expense (benefit) | -914 | -1,760 | -1,755 |
Deferred: | ' | ' | ' |
Foreign tax expense (benefit) | -2 | -223 | -661 |
Mexico [Member] | ' | ' | ' |
Current: | ' | ' | ' |
Foreign tax expense (benefit) | -9,046 | -7,814 | -1,084 |
Deferred: | ' | ' | ' |
Foreign tax expense (benefit) | 94,851 | -10,579 | -28,022 |
Bolivia [Member] | ' | ' | ' |
Current: | ' | ' | ' |
Foreign tax expense (benefit) | -6,716 | -43,546 | -59,660 |
Deferred: | ' | ' | ' |
Foreign tax expense (benefit) | -4,222 | -1,087 | -207 |
Canada [Member] | ' | ' | ' |
Current: | ' | ' | ' |
Foreign tax expense (benefit) | -1,936 | 0 | 0 |
United States [Member] | ' | ' | ' |
Deferred: | ' | ' | ' |
Federal tax expense (benefit) | $78,489 | ($3,586) | ($22,902) |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation of effective tax rate with the federal statutory tax rate | ' | ' | ' |
Tax benefit (expense) from continuing operations | $283,038 | ($41,819) | ($72,886) |
State tax provision from continuing operations | 2,245 | -3,151 | -11,009 |
Percentage depletion and related deductions | 0 | 7,461 | 0 |
Change in valuation allowance | -106,802 | -12,651 | -6,032 |
Non-deductible imputed interest | -214 | -525 | -808 |
Uncertain tax positions | -5,209 | -9,849 | -1,279 |
U.S. and foreign non-deductible expenses | -2,383 | -4,206 | -10,648 |
Foreign exchange rates | 13,937 | -10,416 | -4,440 |
Foreign inflation and indexing | 2,937 | 712 | -3,829 |
Foreign tax rate differences | -24,108 | 3,967 | 22,795 |
Foreign withholding taxes | -100,331 | -5,861 | -23,246 |
Other, net | 13,153 | 5,531 | -3,364 |
Change in Mexico permanent reinvestment assertion | 81,853 | 0 | 0 |
Income tax provision from continuing operations | $158,116 | ($70,807) | ($114,746) |
Income_Taxes_Details_2
Income Taxes (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax liabilities: | ' | ' |
Mineral Properties | $344,152 | $461,742 |
Mexican mining royalty tax | 76,386 | 0 |
Foreign subsidiaries - unremitted earnings | 182,464 | 247,000 |
Inventory | 2,746 | ' |
Property, plant and equipment, net | 33,094 | 60,266 |
Deferred tax liabilities, Total | 638,842 | 769,008 |
Deferred tax assets: | ' | ' |
Net operating loss carryforwards | 130,170 | 99,323 |
Foreign subsidiaries - future tax credits | 163,947 | 145,395 |
Royalty and other long-term debt | 11,616 | 42,221 |
Capital loss carryforwards | 34,930 | 35,315 |
Asset retirement obligation | 18,589 | 8,623 |
Unrealized foreign currency loss and other | 9,567 | 1,590 |
Accrued expenses | 14,756 | 20,692 |
Tax credit carryforwards | 23,585 | 22,811 |
Inventory | 0 | 1,418 |
Deferred tax assets, gross | 407,160 | 377,388 |
Valuation allowance | 289,378 | 182,576 |
Deferred tax assets, net | 117,782 | 194,812 |
Net deferred tax liabilities | ($521,060) | ($574,196) |
Income_Taxes_Details_3
Income Taxes (Details 3) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Recorded valuation allowances | ' | ' |
Recorded valuation allowances | $289,378 | $182,576 |
United States [Member] | ' | ' |
Recorded valuation allowances | ' | ' |
Recorded valuation allowances | 236,653 | 132,790 |
Argentina [Member] | ' | ' |
Recorded valuation allowances | ' | ' |
Recorded valuation allowances | 17,005 | 18,442 |
Canada [Member] | ' | ' |
Recorded valuation allowances | ' | ' |
Recorded valuation allowances | 4,453 | 2,227 |
New Zealand [Member] | ' | ' |
Recorded valuation allowances | ' | ' |
Recorded valuation allowances | 27,292 | 27,125 |
Other [Member] | ' | ' |
Recorded valuation allowances | ' | ' |
Recorded valuation allowances | $3,975 | $1,992 |
Income_Taxes_Details_4
Income Taxes (Details 4) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation of the beginning and ending amount related to unrecognized tax benefits | ' | ' |
Unrecognized tax benefits at January 1 | $10,511 | $1,980 |
Gross increase to current period tax positions | 2,231 | 9,227 |
Gross decrease to prior period tax positions | 2,761 | -696 |
Unrecognized tax benefits at December 31 | 15,471 | 10,511 |
Unrecognized Tax Benefits, Reductions Resulting from Lapse of Applicable Statute of Limitations | ($32) | ' |
Income_Taxes_Details_5
Income Taxes (Details 5) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Tax attribute carryforwards | ' |
Regular net operating losses | $363,530 |
Alternative minimum tax net operating losses | 99,954 |
Capital losses | 93,837 |
Alternative minimum tax credits | 3,136 |
Foreign tax credits | 19,494 |
United States [Member] | ' |
Tax attribute carryforwards | ' |
Regular net operating losses | 226,985 |
Alternative minimum tax net operating losses | 99,954 |
Capital losses | 90,258 |
Alternative minimum tax credits | 3,136 |
Foreign tax credits | 19,494 |
Argentina [Member] | ' |
Tax attribute carryforwards | ' |
Regular net operating losses | 21,061 |
Alternative minimum tax net operating losses | 0 |
Capital losses | 0 |
Alternative minimum tax credits | 0 |
Foreign tax credits | 0 |
Canada [Member] | ' |
Tax attribute carryforwards | ' |
Regular net operating losses | 7,203 |
Alternative minimum tax net operating losses | 0 |
Capital losses | 3,579 |
Alternative minimum tax credits | 0 |
Foreign tax credits | 0 |
Mexico [Member] | ' |
Tax attribute carryforwards | ' |
Regular net operating losses | 4,170 |
Alternative minimum tax net operating losses | 0 |
Capital losses | 0 |
Alternative minimum tax credits | 0 |
Foreign tax credits | 0 |
New Zealand [Member] | ' |
Tax attribute carryforwards | ' |
Regular net operating losses | 97,470 |
Alternative minimum tax net operating losses | 0 |
Capital losses | 0 |
Alternative minimum tax credits | 0 |
Foreign tax credits | 0 |
Other [Member] | ' |
Tax attribute carryforwards | ' |
Regular net operating losses | 6,641 |
Alternative minimum tax net operating losses | 0 |
Capital losses | 0 |
Alternative minimum tax credits | 0 |
Foreign tax credits | $0 |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Other Information | '14.3 | '10.3 | '1.1 |
Income Taxes (Textual) [Abstract] | ' | ' | ' |
Income tax expense (benefit) | $158,116,000 | ($70,807,000) | ($114,746,000) |
Additional Income Taxes (Textual) [Abstract] | ' | ' | ' |
Interest and penalties associated with uncertain tax positions | 0 | 0 | 0 |
Cumulative amount of temporary differences related to investments in foreign subsidiaries | $81,000,000 | ' | ' |
Net_Income_Loss_Per_Share_Deta
Net Income (Loss) Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Basic EPS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) available to common stockholders | ($581,528) | ($46,265) | ($35,040) | $12,270 | $37,550 | ($15,821) | $22,973 | $3,975 | ($650,563) | $48,677 | $93,499 |
Weighted average shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 97,864,000 | 89,437,000 | 89,383,000 |
Effect of share based compensation plans (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 166,000 | 342,000 |
Diluted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 97,864,000 | 89,603,000 | 89,725,000 |
Income (loss) per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in dollars per share) | ($5.77) | ($0.46) | ($0.35) | $0.14 | $0.42 | ($0.18) | $0.26 | $0.04 | ($6.65) | $0.54 | $1.05 |
Diluted (in dollars per share) | ($5.77) | ($0.46) | ($0.35) | $0.14 | $0.42 | ($0.18) | $0.26 | $0.04 | ($6.65) | $0.54 | $1.04 |
Convertible Senior Notes Due March 2028 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | ' | ' | ' | 3.25% | ' | ' | ' | 3.25% | 3.25% | ' |
Stock Options [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock equivalents related to convertible debt | ' | ' | ' | ' | ' | ' | ' | ' | 1,111,021 | 479,767 | 4,258 |
Convertible Debt [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock equivalents related to convertible debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,059,228 |
Acquisitions_Details
Acquisitions (Details) (USD $) | 0 Months Ended | 1 Months Ended |
In Thousands, except Share data, unless otherwise specified | Apr. 16, 2013 | Dec. 31, 2013 |
Orko Silver Corporation [Member] | Global Royalty Corp [Member] | |
Business Combination, Consideration Transferred [Abstract] | ' | ' |
Common shares issued | $173,363 | $22,198 |
Cash | 99,059 | 3,849 |
Warrants (1,588,768 valued at $3.64 per warrant) | 5,777 | ' |
Transaction advisory fees and other acquisition costs | 17,642 | 300 |
Total purchase price | 295,841 | 26,047 |
Current liabilities | 2,616 | 679 |
Deferred income taxes | 114,339 | 7,926 |
Total liabilities assumed | 116,955 | 8,605 |
Total Consideration | 412,796 | 34,652 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract] | ' | ' |
Cash | 3,487 | 165 |
Other current assets | 635 | 276 |
Metal and other inventory | ' | 111 |
Mineral interests | 408,352 | 34,100 |
Other assets | 322 | ' |
Total assets acquired | $412,796 | $34,652 |
Common shares issued for acquisition | 11,572,918 | 2,130,351,000 |
Common shares issued, price per share | $14.98 | $10,420 |
Number of warrants issued | 1,588,768,000 | ' |
Warrants, price per warrant | $3,640 | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Derivative Asset, Fair Value | $135 | ' |
Total assets | 14,656 | 29,007 |
Liabilities: | ' | ' |
Total liabilities | 63,558 | 154,397 |
Royalty obligation embedded derivative [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value | 40,338 | 145,098 |
Royalty Obligation [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value | 21,630 | ' |
Put and call options [Member] | ' | ' |
Assets: | ' | ' |
Derivative Asset, Fair Value | ' | 943 |
Liabilities: | ' | ' |
Derivative Liability, Fair Value | 1,590 | 9,299 |
Short-term Deposit [Member] | ' | ' |
Assets: | ' | ' |
Short-term Deposits | ' | 999 |
Marketable securities [Member] | ' | ' |
Assets: | ' | ' |
Restricted certificates of deposits | 14,521 | 27,065 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Derivative Asset, Fair Value | 0 | ' |
Total assets | 14,521 | 28,064 |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Royalty obligation embedded derivative [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Royalty Obligation [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value | 0 | ' |
Fair Value, Inputs, Level 1 [Member] | Put and call options [Member] | ' | ' |
Assets: | ' | ' |
Derivative Asset, Fair Value | ' | 0 |
Liabilities: | ' | ' |
Derivative Liability, Fair Value | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Short-term Deposit [Member] | ' | ' |
Assets: | ' | ' |
Short-term Deposits | ' | 999 |
Fair Value, Inputs, Level 1 [Member] | Marketable securities [Member] | ' | ' |
Assets: | ' | ' |
Restricted certificates of deposits | 14,521 | 27,065 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Derivative Asset, Fair Value | 135 | ' |
Total assets | 135 | 943 |
Liabilities: | ' | ' |
Total liabilities | 1,590 | 154,397 |
Fair Value, Inputs, Level 2 [Member] | Royalty obligation embedded derivative [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value | 0 | 145,098 |
Fair Value, Inputs, Level 2 [Member] | Royalty Obligation [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value | 0 | ' |
Fair Value, Inputs, Level 2 [Member] | Put and call options [Member] | ' | ' |
Assets: | ' | ' |
Derivative Asset, Fair Value | ' | 943 |
Liabilities: | ' | ' |
Derivative Liability, Fair Value | 1,590 | 9,299 |
Fair Value, Inputs, Level 2 [Member] | Short-term Deposit [Member] | ' | ' |
Assets: | ' | ' |
Short-term Deposits | ' | 0 |
Fair Value, Inputs, Level 2 [Member] | Marketable securities [Member] | ' | ' |
Assets: | ' | ' |
Restricted certificates of deposits | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Derivative Asset, Fair Value | 0 | ' |
Total assets | 0 | 0 |
Liabilities: | ' | ' |
Total liabilities | 61,968 | 0 |
Fair Value, Inputs, Level 3 [Member] | Royalty obligation embedded derivative [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value | 40,338 | 0 |
Fair Value, Inputs, Level 3 [Member] | Royalty Obligation [Member] | ' | ' |
Liabilities: | ' | ' |
Derivative Liability, Fair Value | 21,630 | ' |
Fair Value, Inputs, Level 3 [Member] | Put and call options [Member] | ' | ' |
Assets: | ' | ' |
Derivative Asset, Fair Value | ' | 0 |
Liabilities: | ' | ' |
Derivative Liability, Fair Value | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Short-term Deposit [Member] | ' | ' |
Assets: | ' | ' |
Short-term Deposits | ' | 0 |
Fair Value, Inputs, Level 3 [Member] | Marketable securities [Member] | ' | ' |
Assets: | ' | ' |
Restricted certificates of deposits | $0 | $0 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Measurements (Details 1) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Palmarejo Royalty Obligation [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' |
Balance at the beginning of the period | $0 |
Additions | 0 |
Revaluation | -104,760 |
Transfers from Level 2 | 145,098 |
Balance at the end of the period | 40,338 |
Unrealized gains (losses) recognized in income statement | 104,760 |
Rochester Royalty Obligation [Member] | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' |
Balance at the beginning of the period | 0 |
Additions | 22,046 |
Revaluation | -416 |
Transfers from Level 2 | 0 |
Balance at the end of the period | 21,630 |
Unrealized gains (losses) recognized in income statement | $416 |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements Fair Value Measurements (Details 2) (Fair Value, Inputs, Level 3 [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
Property, Plant and Equipment [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Price per ounce | 25 |
Property, Plant and Equipment [Member] | Minimum [Member] | Discounted Cash Flow [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Discount Rate | 8.50% |
Property, Plant and Equipment [Member] | Maximum [Member] | Discounted Cash Flow [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Discount Rate | 10.50% |
Mining Properties [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Price per ounce | 1,450 |
Mining Properties [Member] | Minimum [Member] | Discounted Cash Flow [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Discount Rate | 8.50% |
Mining Properties [Member] | Maximum [Member] | Discounted Cash Flow [Member] | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Discount Rate | 10.50% |
Fair_Value_Measurements_Fair_V2
Fair Value Measurements Fair Value Measurements (Details 3) (Portion at Other than Fair Value, Fair Value Disclosure [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Convertible Senior Notes Due March 2028 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial Liabilities Not Measured at Fair Value | $5,067 | $48,220 |
Convertible Senior Notes Due March 2028 [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial Liabilities Not Measured at Fair Value | 5,067 | 48,220 |
Convertible Senior Notes Due March 2028 [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial Liabilities Not Measured at Fair Value | 0 | 0 |
Convertible Senior Notes Due March 2028 [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial Liabilities Not Measured at Fair Value | 0 | 0 |
Senior Notes due 2021 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Fair Value | 307,314 | ' |
Senior Notes due 2021 [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Fair Value | 307,314 | ' |
Senior Notes due 2021 [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Fair Value | 0 | ' |
Senior Notes due 2021 [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Fair Value | 0 | ' |
Palmarejo gold production royalty [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial Liabilities Not Measured at Fair Value | 65,212 | 90,617 |
Palmarejo gold production royalty [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial Liabilities Not Measured at Fair Value | 0 | 0 |
Palmarejo gold production royalty [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial Liabilities Not Measured at Fair Value | 0 | 90,617 |
Palmarejo gold production royalty [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Financial Liabilities Not Measured at Fair Value | $65,212 | $0 |
Fair_Value_Measurements_Fair_V3
Fair Value Measurements Fair Value Measurements (Details Textual) (USD $) | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 29, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Convertible Senior Notes Due March 2028 [Member] | Convertible Senior Notes Due March 2028 [Member] | Senior Notes due 2021 [Member] | Senior Notes due 2021 [Member] | Palmarejo [Member] | Rochester [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected Royalty Duration, Rochester | ' | ' | ' | ' | ' | ' | ' | '2 years 6 months | '5 years 1 month 6 days | ' | ' |
Liabilities, Fair Value Disclosure | $63,558 | $154,397 | ' | ' | ' | ' | ' | ' | ' | $61,968 | $0 |
Impairment of Long-Lived Assets Held-for-use | $772,993 | $5,825 | $0 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | 3.25% | 3.25% | 7.88% | 7.88% | ' | ' | ' | ' |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Details) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
USD ($) | MXN | Palmarejo gold production royalty [Member] | Palmarejo gold production royalty [Member] | Palmarejo gold production royalty [Member] | Palmarejo gold production royalty [Member] | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | Mexico peso put options [Member] | Mexico peso put options [Member] | Mexico peso put options [Member] | Mexico peso put options [Member] | Mexico peso put options [Member] | Mexico peso put options [Member] | Mexico peso put options [Member] | Mexico peso call options [Member] | Mexico peso call options [Member] | Mexico peso call options [Member] | Mexico peso call options [Member] | Mexico peso call options [Member] | Mexico peso call options [Member] | Mexico peso call options [Member] | Silver concentrate sales agreements [Member] | Silver concentrate sales agreements [Member] | Silver concentrate sales agreements [Member] | Silver concentrate sales agreements [Member] | Gold concentrates sales agreements [Member] | Gold concentrates sales agreements [Member] | Gold concentrates sales agreements [Member] | Gold concentrates sales agreements [Member] | Gold put options purchased [Member] | Gold put options purchased [Member] | Gold put options purchased [Member] | Gold put options purchased [Member] | Gold call options sold [Member] | Gold call options sold [Member] | Gold call options sold [Member] | Gold call options sold [Member] | Forward foreign exchange contracts [Member] | Forward foreign exchange contracts [Member] | Forward foreign exchange contracts [Member] | Forward foreign exchange contracts [Member] | Forward foreign exchange contracts [Member] | Forward foreign exchange contracts [Member] | Forward foreign exchange contracts [Member] | Forward foreign exchange contracts [Member] | |
2013 [Member] | 2014 [Member] | 2015 [Member] | Thereafter [Member] | 2013 [Member] | 2014 [Member] | 2014 [Member] | 2015 [Member] | 2015 [Member] | Thereafter [Member] | Thereafter [Member] | 2013 [Member] | 2014 [Member] | 2014 [Member] | 2015 [Member] | 2015 [Member] | Thereafter [Member] | Thereafter [Member] | 2013 [Member] | 2014 [Member] | 2014 [Member] | 2015 [Member] | 2015 [Member] | Thereafter [Member] | Thereafter [Member] | 2013 [Member] | 2014 [Member] | 2015 [Member] | Thereafter [Member] | 2013 [Member] | 2014 [Member] | 2015 [Member] | Thereafter [Member] | 2013 [Member] | 2014 [Member] | 2015 [Member] | Thereafter [Member] | 2013 [Member] | 2014 [Member] | 2015 [Member] | Thereafter [Member] | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | Mexico peso put options [Member] | Mexico peso put options [Member] | Mexico peso call options [Member] | Mexico peso call options [Member] | |||
USD ($) | USD ($) | USD ($) | USD ($) | oz | USD ($) | MXN | USD ($) | MXN | USD ($) | MXN | oz | USD ($) | MXN | USD ($) | MXN | USD ($) | MXN | oz | USD ($) | MXN | USD ($) | MXN | USD ($) | MXN | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | MXN | 2013 [Member] | 2013 [Member] | 2013 [Member] | 2013 [Member] | 2013 [Member] | 2013 [Member] | |||
oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | oz | USD ($) | MXN | USD ($) | MXN | USD ($) | MXN | |||||||||||||||||
Derivative instruments Settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, notional amount | ' | ' | $29,831,000 | $24,764,000 | $15,141,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,645,000 | $0 | $0 | $0 | $38,760,000 | $0 | $0 | $0 | $274,000 | $0 | $0 | $0 | $238,000 | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative average gold price in excess of minimum contractual Deduction Rate | 400 | ' | 498 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional ounces | ' | ' | 59,856 | 50,153 | 30,922 | 0 | 146,460 | 0 | 0 | 0 | 0 | 0 | 0 | 567,150,000 | 0 | 0 | 0 | 0 | 0 | 0 | 666,075,000 | 0 | 0 | 0 | 0 | 0 | 0 | 173,752 | 0 | 0 | 0 | 30,780 | 0 | 0 | 0 | 25,000 | 0 | 0 | 0 | 1,250,000 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign exchange contracts of MXP | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,100,000 | ' | 12,000,000 | ' | 45,000,000 | ' | 45,000,000 | ' |
Fair value of foreign exchange contracts | ' | ' | ' | ' | ' | ' | ' | $0 | ' | $0 | ' | $0 | ' | ' | $0 | ' | $0 | ' | $0 | ' | ' | $0 | ' | $0 | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average rate (MXP/$) | ' | 14.8 | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | ' | 0 | ' | ' | 0 | ' | 0 | ' | 0 | ' | ' | 0 | ' | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.11 | ' | 12.21 | ' | 12,600 | ' | 14,800 |
Derivative average price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.98 | 0 | 0 | 0 | 1,259 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average strike price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,150 | 0 | 0 | 0 | 17 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair value of the derivative instruments | ' | ' |
Derivative Asset, Fair Value | $135 | ' |
Prepaid expenses and other [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Asset, Fair Value | 184 | 1,406 |
Accrued liabilities and other [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | 1,640 | 2,488 |
Other long-term liabilities [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | 7,274 |
Current portion of royalty obligation [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | 17,650 | 41,146 |
Non-current portion of royalty obligation [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | 22,688 | 103,952 |
Forward foreign exchange contracts [Member] | Prepaid expenses and other [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Asset, Fair Value | 38 | 376 |
Forward foreign exchange contracts [Member] | Accrued liabilities and other [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | 947 | 300 |
Forward foreign exchange contracts [Member] | Other long-term liabilities [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | ' |
Forward foreign exchange contracts [Member] | Current portion of royalty obligation [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | ' |
Forward foreign exchange contracts [Member] | Non-current portion of royalty obligation [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | ' |
Palmarejo gold production royalty [Member] | Prepaid expenses and other [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Asset, Fair Value | ' | ' |
Palmarejo gold production royalty [Member] | Accrued liabilities and other [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | ' |
Palmarejo gold production royalty [Member] | Other long-term liabilities [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | ' |
Palmarejo gold production royalty [Member] | Current portion of royalty obligation [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | 17,650 | 41,146 |
Palmarejo gold production royalty [Member] | Non-current portion of royalty obligation [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | 22,688 | 103,952 |
Put and call options, net [Member] | Prepaid expenses and other [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Asset, Fair Value | 135 | ' |
Put and call options, net [Member] | Accrued liabilities and other [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | 2,025 |
Put and call options, net [Member] | Other long-term liabilities [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | 7,274 |
Put and call options, net [Member] | Current portion of royalty obligation [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | ' |
Put and call options, net [Member] | Non-current portion of royalty obligation [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | ' |
Concentrate sales contracts [Member] | Prepaid expenses and other [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Asset, Fair Value | 11 | 1,030 |
Concentrate sales contracts [Member] | Accrued liabilities and other [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | 693 | 163 |
Concentrate sales contracts [Member] | Other long-term liabilities [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | ' |
Concentrate sales contracts [Member] | Current portion of royalty obligation [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | ' |
Concentrate sales contracts [Member] | Non-current portion of royalty obligation [Member] | ' | ' |
Fair value of the derivative instruments | ' | ' |
Derivative Liability, Fair Value | ' | ' |
Mexican peso forward purchase contracts [Member] | Forward foreign exchange contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Foreign exchange contracts of MXP | ' | 26,100 |
Derivative Instruments Settle in Year One [Member] | Mexican peso forward purchase contracts [Member] | Forward foreign exchange contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Foreign exchange contracts of MXP | $12,000 | ' |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Fair value adjustments, net | $82,768 | ($23,487) | ($52,050) |
Fair value adjustments, net | 80,928 | -23,426 | -49,162 |
Concentrate Sales Contracts [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Sales of Metals | -1,995 | 1,682 | 2,505 |
Forward foreign exchange contract [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Production costs applicable to sales | 589 | -1,621 | 383 |
Fair value adjustments, net | -985 | 3,264 | -3,192 |
Gold lease facility [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Fair value adjustments, net | 0 | 0 | -132 |
Forward gold contract [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Fair value adjustments, net | 0 | 0 | 34 |
Silver Ounces Receivables [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Fair value adjustments, net | 0 | 213 | -276 |
Palmarejo gold production royalty [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Fair value adjustments, net | 76,200 | -31,053 | -40,046 |
Put and call options [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Fair value adjustments, net | $7,119 | $4,089 | ($8,438) |
Derivative_Financial_Instrumen5
Derivative Financial Instruments (Details Textual) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 21, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
USD ($) | USD ($) | USD ($) | MXN | oz | Put Option [Member] | Cerro Bayo Mine [Member] | Cerro Bayo Mine [Member] | Franco-Nevada warrant [Member] | Franco-Nevada warrant [Member] | Franco-Nevada warrant [Member] | Gold lease forward purchase contracts [Member] | Forward Gold Contract [Member] | Palmarejo gold production royalty [Member] | Palmarejo gold production royalty [Member] | Forward foreign exchange contracts [Member] | Forward foreign exchange contracts [Member] | Forward foreign exchange contracts [Member] | Forward foreign exchange contracts [Member] | Commodity [Member] | Commodity [Member] | Commodity [Member] | Commodity [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Maximum [Member] | Derivative Instruments Settle in Year One [Member] | Derivative Instruments Settle in Year One [Member] | Derivative Instruments Settle in Year One [Member] | Derivative Instruments Settle in Year One [Member] | Derivative Instruments Settle in Year One [Member] | Derivative Instruments Settle in Year One [Member] | Prepaid Expenses and Other Current Assets [Member] | Prepaid Expenses and Other Current Assets [Member] | Prepaid Expenses and Other Current Assets [Member] | Prepaid Expenses and Other Current Assets [Member] | Prepaid Expenses and Other Current Assets [Member] | Prepaid Expenses and Other Current Assets [Member] | Prepaid Expenses and Other Current Assets [Member] | Prepaid Expenses and Other Current Assets [Member] | |
oz | oz | oz | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | oz | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | USD ($) | USD ($) | USD ($) | Call Option [Member] | USD ($) | USD ($) | USD ($) | USD ($) | Put Option [Member] | Put Option [Member] | Palmarejo gold production royalty [Member] | Mexican peso forward purchase contracts [Member] | Gold call options sold [Member] | Gold put options purchased [Member] | Silver put options purchased [Member] | Forward foreign exchange contracts [Member] | Forward foreign exchange contracts [Member] | USD ($) | USD ($) | Palmarejo gold production royalty [Member] | Palmarejo gold production royalty [Member] | Forward foreign exchange contracts [Member] | Forward foreign exchange contracts [Member] | Gold Put Purchase and Call Sold Options Net [Member] | Gold Put Purchase and Call Sold Options Net [Member] | |||||
delivery | oz | USD ($) | USD ($) | USD ($) | MXN | oz | USD ($) | oz | oz | oz | oz | oz | oz | Mexican peso forward purchase contracts [Member] | Mexican peso forward purchase contracts [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||
oz | USD ($) | MXN | ||||||||||||||||||||||||||||||||||||||||||
Additional Derivative Financial Instruments and Fair Value of Financial Instruments (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Life of Mine Production, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment made for gold on the end of royalty obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,167 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty Guarantees, Commitments, Ounces of Gold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total gold remain outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 140,931 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Risk Free Interest Rate | ' | 5.70% | 4.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value liability of the embedded derivative | ' | ' | ' | ' | ' | ' | ' | ' | $40,300,000 | $145,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Company recognized Mark to Market loss | ' | ' | ' | ' | ' | ' | ' | ' | 104,800,000 | 14,300,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Gold Production | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual Inflation Compounding Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Realized losses | ' | ' | ' | ' | ' | ' | ' | ' | 28,700,000 | 45,400,000 | 0 | 2,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign exchange contracts of MXP | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average exchange rate of MXP | ' | ' | ' | 14.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.21 | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of foreign exchange contracts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -900,000 | -100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Strike Price of Put Options | ' | ' | ' | 12.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional Amount of Foreign Currency Derivatives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mark-to-market gains and losses on forward foreign exchange contract | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | 1,000,000 | 3,300,000 | 3,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mark-to-market Realized gains on forward foreign exchange contract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Liability, Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Call Feature of Each Collar | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,968 | 1,968 | 97,000 | ' | 17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding Put Options of Gold | 97,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 122,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Asian Put Options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' |
Outstanding Call Options of Gold | ' | ' | ' | ' | 84,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Put Feature of Each Collar | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 968 | 968 | 1,150 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contract expiration date | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional ounces | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146,460 | 1,250,000 | 25,000 | 1,250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative swap fixed price (in usd per oz) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,380 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average strike price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17 | 1,150 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized gain (loss) | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Received silver in connection with sales of asset | ' | ' | ' | ' | ' | ' | 125,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of equal quarterly installments to be delivered | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Company recognized mark to market gain | ' | ' | ' | ' | ' | ' | 600,000 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of the contract | ' | 135,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 184,000 | 1,406,000 | ' | ' | 38,000 | 376,000 | 135,000 | ' |
Derivative Financial Instruments and Fair Value of Financial Instruments (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding provisionally priced sales consists of silver | ' | 200,000 | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding provisionally priced sales consists of Gold | ' | 30,780 | 11,957 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of gold and silver including embedded derivative | ' | 42,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding provisionally priced sales | ' | ' | $33,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments_Details
Investments (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | ($13,900,000) | ' | ' |
Investment in Marketable Securities (Textual) [Abstract] | ' | ' | ' |
Unrealized gain (loss) on available for sale securities | -8,489,000 | -3,351,000 | -4,975,000 |
Impairment loss | 18,308,000 | 605,000 | 0 |
Short term investments | 0 | 999,000 | 20,254,000 |
Marketable securities [Member] | ' | ' | ' |
Available-for-sale Securities | ' | ' | ' |
Cost | 17,649,000 | 34,786,000 | ' |
Gross Unrealized Losses | -3,300,000 | -10,443,000 | ' |
Gross Unrealized Gains | 172,000 | 2,722,000 | ' |
Available-for-sale Securities, Estimated Fair Value | 14,521,000 | 27,065,000 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ' |
Unrealized Losses, Less than twelve months | -3,300,000 | ' | ' |
Unrealized Losses, Twelve months or more | 0 | ' | ' |
Unrealized Losses Total | -3,300,000 | -10,443,000 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' | ' |
Fair Value, Less than twelve months | 4,146,000 | ' | ' |
Fair Value, Twelve months or more | 0 | ' | ' |
Fair Value, Total | $4,146,000 | ' | ' |
Receivables_Details
Receivables (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Receivables [Abstract] | ' | ' |
Allowance for doubtful accounts | $0 | $0 |
Receivables - current portion | ' | ' |
Accounts receivable - trade | 17,303,000 | 8,701,000 |
Refundable income tax | 6,240,000 | 9,331,000 |
Refundable value added tax | 49,168,000 | 40,020,000 |
Accounts receivable - other | 8,363,000 | 4,386,000 |
Receivables, net current portion | 81,074,000 | 62,438,000 |
Receivables - non-current portion | ' | ' |
Refundable value added tax | $36,574,000 | $48,767,000 |
Metal_and_Other_Inventory_Deta
Metal and Other Inventory (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventories | ' | ' |
Concentrate and dore inventory | $67,105 | $91,130 |
Supplies | 64,918 | 79,540 |
Metal and other inventory | $132,023 | $170,670 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, plant and equipment | ' | ' |
Land | $1,764 | $2,010 |
Building improvements | 489,535 | 581,286 |
Machinery and equipment | 365,783 | 360,199 |
Capitalized leases for machinery, equipment and buildings | 16,133 | 35,129 |
Property, plant and equipment, gross | 873,215 | 978,624 |
Accumulated depreciation and amortization | -395,520 | -313,067 |
Property Plant and Equipment Net before Construction in Progress | 477,695 | 665,557 |
Construction in Progress | 8,578 | 18,303 |
Property, plant and equipment, net | $486,273 | $683,860 |
Property_Plant_and_Equipment_D1
Property, Plant and Equipment (Details Textual) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Rent expense charged for all operating lease agreements | $16.70 | $14.10 | $14.20 |
Mining_Properties_Details
Mining Properties (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Mining Properties | ' | ' |
Operational mining properties: | $641,305 | $674,636 |
Accumulated depletion | -315,541 | -247,562 |
Operational mining properties, net | 325,764 | 427,074 |
Mineral interest | 1,753,129 | 1,822,635 |
Accumulated depletion | -327,392 | -257,758 |
Mineral interest, net | 1,425,737 | 1,564,877 |
Total mining properties | 1,751,501 | 1,991,951 |
Palmarejo [Member] | ' | ' |
Mining Properties | ' | ' |
Operational mining properties: | 151,845 | 155,722 |
Accumulated depletion | -110,143 | -82,037 |
Operational mining properties, net | 41,702 | 73,685 |
Mineral interest | 1,146,572 | 1,658,389 |
Accumulated depletion | -300,187 | -235,795 |
Mineral interest, net | 846,385 | 1,422,594 |
Total mining properties | 888,087 | 1,496,279 |
San Bartolome [Member] | ' | ' |
Mining Properties | ' | ' |
Operational mining properties: | 70,761 | 70,322 |
Accumulated depletion | -22,236 | -18,439 |
Operational mining properties, net | 48,525 | 51,883 |
Mineral interest | 26,643 | 26,642 |
Accumulated depletion | -8,759 | -7,338 |
Mineral interest, net | 17,884 | 19,304 |
Total mining properties | 66,409 | 71,187 |
Kensington [Member] | ' | ' |
Mining Properties | ' | ' |
Operational mining properties: | 268,351 | 333,619 |
Accumulated depletion | -80,032 | -46,649 |
Operational mining properties, net | 188,319 | 286,970 |
Mineral interest | 0 | 0 |
Accumulated depletion | 0 | 0 |
Mineral interest, net | 0 | 0 |
Total mining properties | 188,319 | 286,970 |
Rochester [Member] | ' | ' |
Mining Properties | ' | ' |
Operational mining properties: | 150,348 | 114,973 |
Accumulated depletion | -103,130 | -100,437 |
Operational mining properties, net | 47,218 | 14,536 |
Mineral interest | 0 | 0 |
Accumulated depletion | 0 | 0 |
Mineral interest, net | 0 | 0 |
Total mining properties | 47,218 | 14,536 |
Endeavor [Member] | ' | ' |
Mining Properties | ' | ' |
Operational mining properties: | 0 | 0 |
Accumulated depletion | 0 | 0 |
Operational mining properties, net | 0 | 0 |
Mineral interest | 408,352 | 44,033 |
Accumulated depletion | 0 | -14,625 |
Mineral interest, net | 408,352 | 29,408 |
Total mining properties | 408,352 | 29,408 |
Joaquin Project - Argentina [Member] | ' | ' |
Mining Properties | ' | ' |
Operational mining properties: | 0 | 0 |
Accumulated depletion | 0 | 0 |
Operational mining properties, net | 0 | 0 |
Mineral interest | 93,429 | 93,571 |
Accumulated depletion | 0 | 0 |
Mineral interest, net | 93,429 | 93,571 |
Total mining properties | 93,429 | 93,571 |
Other Mining Properties [Member] | ' | ' |
Mining Properties | ' | ' |
Operational mining properties: | 0 | ' |
Accumulated depletion | 0 | ' |
Operational mining properties, net | 0 | ' |
Mineral interest | 78,133 | ' |
Accumulated depletion | -18,446 | ' |
Mineral interest, net | 59,687 | ' |
Total mining properties | $59,687 | ' |
Mining_Properties_Details_Text
Mining Properties (Details Textual) | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||
Mar. 31, 2006 | Dec. 31, 2013 | Dec. 31, 2012 | 23-May-05 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
oz | oz | mi | Endeavor [Member] | McEwen Mining Inc, El Gallo, Magistral Mine [Member] | Dynasty Metals and Mining, Inc Zaruma Mine [Member] | Cerro Bayo Mine [Member] | |
oz | |||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Distance of Lynn Canal from mines | ' | ' | 45 | ' | ' | ' | ' |
Quantity of acquired silver production and reserves | ' | ' | ' | 17,700,000 | ' | ' | ' |
Silver production and reserves payable ounces | 20,000,000 | ' | ' | ' | ' | ' | ' |
Cumulative ounces of silver received by CDE Australia | ' | 4,800,000 | ' | ' | ' | ' | ' |
Current ore reserve payable ounces based on current metallurgical recovery and current smelter contract terms | ' | 3,700,000 | ' | ' | ' | ' | ' |
Net smelter return (in percent) | ' | ' | ' | ' | 3.50% | 1.50% | 2.00% |
Debt_Details
Debt (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 12, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
oz | oz | 3.25% Convertible Senior Notes due March 2028 [Member] | 3.25% Convertible Senior Notes due March 2028 [Member] | 3.25% Convertible Senior Notes due March 2028 [Member] | 3.25% Convertible Senior Notes due March 2028 [Member] | Senior Notes due 2021 [Member] | Senior Notes due 2021 [Member] | Senior Notes due 2021 [Member] | 1.25% Convertible Senior Notes due January 2024 (terminated in 2011) [Member] | 1.25% Convertible Senior Notes due January 2024 (terminated in 2011) [Member] | 1.25% Convertible Senior Notes due January 2024 (terminated in 2011) [Member] | Senior Term Notes due December 31, 2012 [Member] | Senior Term Notes due December 31, 2012 [Member] | Senior Term Notes due December 31, 2012 [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Capital Lease Obligations [Member] | Capital Lease Obligations [Member] | Capital Lease Obligations [Member] | Other debt obligations [Member] | Other debt obligations [Member] | Other debt obligations [Member] | Call Option [Member] | Palmarejo gold production royalty [Member] | Maximum [Member] | Maximum [Member] | |||
Kensington Term Facility [Member] | oz | Rate | Palmarejo gold production royalty [Member] | |||||||||||||||||||||||||||
oz | oz | |||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of Adjusted Earnings Before Interest Taxes Depreciation and Amortization to Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' |
Royalty Guarantees, Commitments, Ounces of Gold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 |
Minimum Obligation Paid in Monthly Payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,167 | ' | ' |
Annual Inflation Compounding Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' |
Percentage of Actual Gold Production | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Average Gold Price in Excess of Minimum Contractual Deduction Rate | $400 | $400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gold under collars protection | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 243,750 | ' | ' | ' |
Long term debt and capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current | 2,505,000 | 2,505,000 | 55,983,000 | ' | 0 | 48,081,000 | ' | 48,700,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,505,000 | 7,902,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Non-current | 306,130,000 | 306,130,000 | 3,460,000 | ' | 5,334,000 | 0 | ' | ' | 300,000,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 796,000 | 3,460,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expenses incurred for various debt instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense | ' | ' | ' | ' | 466,000 | 1,581,000 | 1,581,000 | ' | 21,853,000 | 0 | 0 | 0 | 0 | 1,000 | 0 | 0 | 1,381,000 | 0 | 2,339,000 | 4,383,000 | 415,000 | 997,000 | 1,620,000 | 291,000 | 881,000 | 1,379,000 | ' | ' | ' | ' |
Line of Credit Facility, Commitment Fee Amount | 612,000 | ' | 213,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion of Franco Nevada royalty obligation | ' | 17,641,000 | 19,139,000 | 22,230,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of debt issuance costs | ' | 2,143,000 | 1,146,000 | 2,050,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion of debt discount | ' | 576,000 | 2,536,000 | 2,324,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized interest | ' | -2,694,000 | -2,663,000 | -2,175,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total interest expense, net of capitalized interest | ' | $41,303,000 | $26,169,000 | $34,774,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of Royalty on Ounces of Gold | 259,069 | 259,069 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Details_Textual
Debt (Details Textual) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 21, 2009 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 12, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 29, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 16, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
oz | oz | Debt Instrument, Redemption Period, End of 2015 [Member] | Debt Instrument, Redemption Period, After 2016 [Member] | 3.25% Convertible Senior Notes due March 2028 [Member] | 3.25% Convertible Senior Notes due March 2028 [Member] | 3.25% Convertible Senior Notes due March 2028 [Member] | 3.25% Convertible Senior Notes due March 2028 [Member] | Senior Notes due Two Thousand Twenty One [Member] | Senior Notes due Two Thousand Twenty One [Member] | Senior Notes due Two Thousand Twenty One [Member] | Senior Notes due Two Thousand Twenty One [Member] | Banco Bisa Line of Credit [Member] | Banco de Credito Line of Credit [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Kensington Term Facility [Member] | Palmarejo gold production royalty [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | LIBOR [Member] | LIBOR [Member] | Alternate Base Rate [Member] | Alternate Base Rate [Member] | Palmarejo gold production royalty [Member] | Palmarejo gold production royalty [Member] | Palmarejo gold production royalty [Member] | ||||||
Call Option [Member] | Put Option [Member] | Rate | Debt Instrument Redemption Period, Quarter ended September 30, 2014 [Member] | Rate | Rate | Debt Instrument, Redemption Period, End of 2015 [Member] | Debt Instrument, Redemption Period, After 2016 [Member] | Rate | Debt Instrument Redemption Period, Quarter ended September 30, 2014 [Member] | Rate | Rate | Debt Instrument, Redemption Period, End of 2015 [Member] | Debt Instrument, Redemption Period, After 2016 [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | oz | Maximum [Member] | ||||||||||||||||||||||||||||||
oz | oz | Rate | Rate | Rate | Rate | Rate | Rate | oz | ||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ore on leach pads | $50,495,000 | $50,495,000 | $22,991,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt and capital lease obligations (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future lease payments, 2014 | 8,200,000 | 8,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future lease payments, 2015 | 5,100,000 | 5,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future lease payments, 2016 | 1,600,000 | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future lease payments, 2017 | 800,000 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future lease payments, 2018 | 800,000 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future lease payments, Thereafter | 3,300,000 | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate on notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.25% | 3.25% | ' | ' | 7.88% | ' | ' | 7.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of bank loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,300,000 | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt and capital leases | 2,505,000 | 2,505,000 | 55,983,000 | ' | ' | ' | ' | ' | ' | 0 | 48,081,000 | ' | 48,700,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Repurchased Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value of the equity component | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense, Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 466,000 | 1,581,000 | 1,581,000 | ' | 21,853,000 | 0 | 0 | ' | ' | ' | ' | ' | 0 | 2,339,000 | ' | 4,383,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion of debt discount | ' | 576,000 | 2,536,000 | 2,324,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective interest rate on the notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing under term facility | 100,000,000 | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, increase, additional borrowings | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, commitment fee amount | 612,000 | ' | 213,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Description of variable rate basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '0.0225 | ' | ' | ' | ' | ' | ' |
Basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | 1.25% | 3.00% | ' | ' | ' |
Ratio of consolidated debt to adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | 1 | ' | 3.25 | ' | ' | ' | 4.75 | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of adjusted EBITDA to interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | 1 | 1 | 1 | 1 | 1 | 3 | 2.75 | 1.5 | 2 | 2.75 | 3 | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Limit on Losses | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum tangible net worth required for credit facility | 900,000,000 | 900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Minimum Adjusted EBITDA | ' | 100,000,000 | ' | ' | ' | 50,000,000 | 75,000,000 | 100,000,000 | 110,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of Secured Indebtedness to EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | 1.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Cash Balance Tested Quarterly | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of Consolidated Debt to Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of tangible net worth | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of net income | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate at Period End | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 68,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on debt extinguishments | ' | 0 | 1,036,000 | 5,526,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gold under collars protection | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 243,750 | 122,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average call feature of each collar | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,968 | 1,968 | 97,000 | ' | ' | ' | 17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average put feature of each collar | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 968 | 968 | ' | ' | 1,150 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 57,000,000 | 74,700,000 | ' |
Sale Portion Life of Mine | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty Guarantees, Commitments, Ounces of Gold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 |
Royalty agreement minimum obligation for the period | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty Agreement Minimum Obligation for Per Month | 4,167 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty Agreement Period | ' | ' | ' | ' | '8 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Actual Gold Production | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of Royalty on Ounces of Gold | 259,069 | 259,069 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Further Payment Made on Number of Additional Ounces of Gold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 140,931 | ' | ' |
Payments to Acquire Royalty Interests in Mining Properties | ' | 57,034,000 | 74,734,000 | 73,191,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional Long term debt and capital lease obligations(Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Implicit Interest Rate | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion of Royalty Obligation | ' | 17,641,000 | 19,139,000 | 22,230,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining Minimum Obligation Under Royalty Agreements | 51,200,000 | 51,200,000 | 61,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expensed Interest | ' | 41,303,000 | 26,169,000 | 34,774,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized interest | ' | ($2,694,000) | ($2,663,000) | ($2,175,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental_Guarantor_Informa2
Supplemental Guarantor Information Condensed Consolidated Statements of Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | $168,847 | $200,825 | $204,525 | $171,797 | $205,929 | $230,593 | $254,406 | $204,564 | $745,994 | $895,492 | $1,021,200 |
Cost of Goods Sold | -100,227 | -131,728 | -142,924 | -88,784 | -106,473 | -124,365 | -131,182 | -92,542 | -463,663 | -454,562 | -419,547 |
Amortization | -63,916 | -60,874 | -57,653 | -50,436 | -52,397 | -52,844 | -61,024 | -52,592 | -232,879 | -218,857 | -224,500 |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | 49,452 | 222,073 | 377,153 |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | ' | 55,343 | 32,977 | 31,379 |
Costs of Metals Sold | 5,440 | 3,305 | 6,774 | 6,841 | 6,441 | 6,957 | 6,305 | 6,567 | 22,360 | 26,270 | 19,128 |
Gain (Loss) Related to Litigation Settlement | ' | ' | 32,000 | ' | ' | ' | ' | ' | -32,046 | 0 | 0 |
Impairment of Long-Lived Assets Held-for-use | ' | ' | ' | ' | ' | ' | ' | ' | 772,993 | 5,825 | 0 |
Pre Development | ' | ' | ' | ' | ' | ' | ' | ' | 11,869 | 1,261 | 19,441 |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 894,611 | 66,333 | 69,948 |
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -845,159 | 155,740 | 307,205 |
Gains (Losses) on Extinguishment of Debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -1,036 | -5,526 |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | ' | ' | ' | ' | ' | ' | ' | 82,768 | -23,487 | -52,050 |
Marketable Securities, Gain (Loss), Excluding Other than Temporary Impairments | ' | ' | ' | ' | ' | ' | ' | ' | -18,308 | -605 | ' |
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | 13,323 | 15,041 | -6,610 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 41,303 | 26,169 | 34,774 |
Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | ' | 36,480 | -36,256 | -98,960 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -808,679 | 119,484 | 208,245 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -158,116 | 70,807 | 114,746 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -650,563 | 48,677 | 93,499 |
Income (Loss) from Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
NET INCOME (LOSS) | -581,528 | -46,265 | -35,040 | 12,270 | 37,550 | -15,821 | 22,973 | 3,975 | -650,563 | 48,677 | 93,499 |
Marketable Securities, Unrealized Gain (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -8,489 | ' | ' |
Reclassification adjustments for other than temporary impairment of marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 11,221 | 605 | 0 |
Reclassification adjustments for realized loss on sale of marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 83 | 0 | 0 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 2,815 | -2,746 | -4,975 |
COMPREHENSIVE INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -647,748 | 45,931 | 88,524 |
Coeur Mining, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Cost of Goods Sold | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | -1,066 | -521 | -450 |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | -1,066 | -521 | -450 |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | ' | 50,213 | 30,699 | 28,407 |
Costs of Metals Sold | ' | ' | ' | ' | ' | ' | ' | ' | 1,602 | 1,946 | 1,504 |
Gain (Loss) Related to Litigation Settlement | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Impairment of Long-Lived Assets Held-for-use | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Pre Development | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 51,815 | 32,645 | 29,911 |
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -52,881 | -33,166 | -30,361 |
Gains (Losses) on Extinguishment of Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -5,526 |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | ' | ' | ' | ' | ' | ' | ' | -1,346 | 3,477 | -3,566 |
Marketable Securities, Gain (Loss), Excluding Other than Temporary Impairments | ' | ' | ' | ' | ' | ' | ' | ' | -18,097 | -605 | ' |
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | 13,408 | 5,744 | 8,871 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 25,652 | 4,158 | 6,328 |
Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | ' | -31,687 | 4,458 | -6,549 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -84,568 | -28,708 | -36,910 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -78,332 | 3,844 | 20,904 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -6,236 | -32,552 | -57,814 |
Income (Loss) from Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | -644,327 | 81,229 | 151,313 |
NET INCOME (LOSS) | ' | ' | ' | ' | ' | ' | ' | ' | -650,563 | 48,677 | 93,499 |
Marketable Securities, Unrealized Gain (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -8,489 | -3,351 | -4,975 |
Reclassification adjustments for losses included in net income | ' | ' | ' | ' | ' | ' | ' | ' | 11,221 | 605 | 0 |
Reclassification adjustments for realized loss on sale of marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 83 | ' | ' |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 2,815 | -2,746 | -4,975 |
COMPREHENSIVE INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -647,748 | 45,931 | 88,524 |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 268,023 | 243,380 | 208,517 |
Cost of Goods Sold | ' | ' | ' | ' | ' | ' | ' | ' | -182,444 | -159,151 | -129,520 |
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | -73,802 | -49,750 | -38,670 |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | 11,777 | 34,479 | 40,327 |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | ' | 3,245 | 1,101 | 937 |
Costs of Metals Sold | ' | ' | ' | ' | ' | ' | ' | ' | 8,920 | 7,930 | 3,754 |
Gain (Loss) Related to Litigation Settlement | ' | ' | ' | ' | ' | ' | ' | ' | -32,046 | ' | ' |
Impairment of Long-Lived Assets Held-for-use | ' | ' | ' | ' | ' | ' | ' | ' | 130,694 | 0 | ' |
Pre Development | ' | ' | ' | ' | ' | ' | ' | ' | 946 | -362 | 19,311 |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 175,851 | 8,669 | 24,002 |
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -164,074 | 25,810 | 16,325 |
Gains (Losses) on Extinguishment of Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,036 | 0 |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | ' | ' | ' | ' | ' | ' | ' | 7,896 | 4,089 | -8,438 |
Marketable Securities, Gain (Loss), Excluding Other than Temporary Impairments | ' | ' | ' | ' | ' | ' | ' | ' | -211 | 0 | ' |
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | -1,539 | 859 | 1,170 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 445 | 2,997 | 4,910 |
Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | ' | 5,701 | 915 | -12,178 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -158,373 | 26,725 | 4,147 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 155 | -2,930 | -440 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -158,528 | 23,795 | 3,707 |
Income (Loss) from Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | -68 | 0 | 0 |
NET INCOME (LOSS) | ' | ' | ' | ' | ' | ' | ' | ' | -158,596 | 23,795 | 3,707 |
Marketable Securities, Unrealized Gain (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -552 | 0 | 0 |
Reclassification adjustments for losses included in net income | ' | ' | ' | ' | ' | ' | ' | ' | 211 | 0 | 0 |
Reclassification adjustments for realized loss on sale of marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -341 | 0 | 0 |
COMPREHENSIVE INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -158,937 | 23,795 | 3,707 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 477,971 | 652,112 | 812,683 |
Cost of Goods Sold | ' | ' | ' | ' | ' | ' | ' | ' | -281,219 | -295,411 | -290,027 |
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | -158,011 | -168,586 | -185,380 |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | 38,741 | 188,115 | 337,276 |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | ' | 1,885 | 1,177 | 2,035 |
Costs of Metals Sold | ' | ' | ' | ' | ' | ' | ' | ' | 11,838 | 16,394 | 13,870 |
Gain (Loss) Related to Litigation Settlement | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Impairment of Long-Lived Assets Held-for-use | ' | ' | ' | ' | ' | ' | ' | ' | 642,299 | 5,825 | ' |
Pre Development | ' | ' | ' | ' | ' | ' | ' | ' | 10,923 | 1,623 | 130 |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 666,945 | 25,019 | 16,035 |
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -628,204 | 163,096 | 321,241 |
Gains (Losses) on Extinguishment of Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | ' | ' | ' | ' | ' | ' | ' | 76,218 | -31,053 | -40,046 |
Marketable Securities, Gain (Loss), Excluding Other than Temporary Impairments | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | 4,602 | 13,071 | -7,372 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 18,354 | 23,647 | 32,815 |
Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | ' | 62,466 | -41,629 | -80,233 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -565,738 | 121,467 | 241,008 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -79,939 | 64,033 | 93,402 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | -485,799 | 57,434 | 147,606 |
Income (Loss) from Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
NET INCOME (LOSS) | ' | ' | ' | ' | ' | ' | ' | ' | -485,799 | 57,434 | 147,606 |
Marketable Securities, Unrealized Gain (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Reclassification adjustments for losses included in net income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Reclassification adjustments for realized loss on sale of marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
COMPREHENSIVE INCOME | ' | ' | ' | ' | ' | ' | ' | ' | -485,799 | 57,434 | 147,606 |
Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Cost of Goods Sold | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Gross Profit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
General and Administrative Expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Costs of Metals Sold | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Gain (Loss) Related to Litigation Settlement | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Impairment of Long-Lived Assets Held-for-use | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Pre Development | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating Expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Gains (Losses) on Extinguishment of Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 |
Gain (Loss) on Derivative Instruments, Net, Pretax | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Marketable Securities, Gain (Loss), Excluding Other than Temporary Impairments | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Interest and other income | ' | ' | ' | ' | ' | ' | ' | ' | -3,148 | -4,633 | -9,279 |
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | -3,148 | -4,633 | -9,279 |
Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Income (Loss) from Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | 644,395 | -81,229 | -151,313 |
NET INCOME (LOSS) | ' | ' | ' | ' | ' | ' | ' | ' | 644,395 | -81,229 | -151,313 |
Marketable Securities, Unrealized Gain (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 552 | 0 | 0 |
Reclassification adjustments for losses included in net income | ' | ' | ' | ' | ' | ' | ' | ' | -211 | 0 | 0 |
Reclassification adjustments for realized loss on sale of marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 341 | 0 | 0 |
COMPREHENSIVE INCOME | ' | ' | ' | ' | ' | ' | ' | ' | $644,736 | ($81,229) | ($151,313) |
Supplemental_Guarantor_Informa3
Supplemental Guarantor Information Condensed Consolidated Statements of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | $113,467 | $271,634 | $416,173 |
Payments to Acquire Investments | -8,052 | -12,959 | -49,501 |
Payments for (Proceeds from) Investments | 34,796 | 21,695 | 6,246 |
Payments to Acquire Productive Assets | -100,813 | -115,641 | -119,988 |
Payments to Acquire Businesses, Net of Cash Acquired | 116,898 | -29,297 | ' |
Proceeds from Discontinued Operations Sale of Assets and Other | 4,478 | 3,087 | 2,282 |
Payments to Acquire Interest in Subsidiaries and Affiliates | 0 | 0 | 0 |
Net Cash Provided by (Used in) Investing Activities | -186,489 | -133,115 | -160,961 |
Proceeds from Convertible Debt | 300,000 | 0 | 27,500 |
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | -60,628 | -97,170 | -85,519 |
Payments to Acquire Royalty Interests in Mining Properties | -57,034 | -74,734 | -73,191 |
Payments on gold lease facility | 0 | 0 | -13,800 |
Additions to Restricted Assets | 0 | 4,645 | -1,326 |
Additions to funds held financing | ' | ' | -1,326 |
Payments for Repurchase of Common Stock | -27,552 | -19,971 | 0 |
Proceeds From Repayment Intercompany Borrowings | 0 | 0 | 0 |
Proceeds from (Payments for) Other Financing Activities | -514 | -861 | 18 |
Net Cash Provided by (Used in) Financing Activities | 154,272 | -188,091 | -146,318 |
Cash and Cash Equivalents, Period Increase (Decrease) | 81,250 | -49,572 | 108,894 |
Cash and Cash Equivalents, at Carrying Value | 206,690 | 125,440 | 175,012 |
Coeur Mining, Inc. | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | -701,653 | 58,754 | 132,318 |
Payments to Acquire Investments | -2,921 | -12,913 | -49,321 |
Payments for (Proceeds from) Investments | 29,274 | 21,590 | 6,138 |
Payments to Acquire Productive Assets | -3,573 | -1,531 | -567 |
Payments to Acquire Businesses, Net of Cash Acquired | -113,214 | -29,338 | ' |
Proceeds from Discontinued Operations Sale of Assets and Other | 3,266 | 3,538 | 1,216 |
Payments to Acquire Interest in Subsidiaries and Affiliates | 642,617 | -81,229 | -151,313 |
Net Cash Provided by (Used in) Investing Activities | 555,449 | -99,883 | -193,847 |
Proceeds from Convertible Debt | 300,000 | ' | 0 |
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | -52,568 | -4,005 | -37,983 |
Payments to Acquire Royalty Interests in Mining Properties | 0 | 0 | 0 |
Payments on gold lease facility | ' | ' | -13,800 |
Additions to Restricted Assets | ' | 0 | ' |
Additions to funds held financing | ' | ' | 0 |
Payments for Repurchase of Common Stock | -27,552 | -19,971 | ' |
Proceeds From Repayment Intercompany Borrowings | -22,874 | 67,082 | 163,224 |
Proceeds from (Payments for) Other Financing Activities | -514 | -861 | 18 |
Net Cash Provided by (Used in) Financing Activities | 196,492 | 42,245 | 111,459 |
Cash and Cash Equivalents, Period Increase (Decrease) | 50,288 | 1,116 | 49,930 |
Cash and Cash Equivalents, at Carrying Value | 137,076 | 86,788 | 85,672 |
Guarantor Subsidiaries | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | 17,456 | 37,426 | 38,152 |
Payments to Acquire Investments | -66 | -46 | -60 |
Payments for (Proceeds from) Investments | 75 | 45 | 48 |
Payments to Acquire Productive Assets | -50,810 | -48,788 | -61,288 |
Payments to Acquire Businesses, Net of Cash Acquired | -3,684 | 0 | ' |
Proceeds from Discontinued Operations Sale of Assets and Other | 444 | 130 | 903 |
Payments to Acquire Interest in Subsidiaries and Affiliates | 68 | 0 | 0 |
Net Cash Provided by (Used in) Investing Activities | -53,973 | -48,659 | -60,397 |
Proceeds from Convertible Debt | 0 | ' | 27,500 |
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | -3,171 | -79,839 | -30,493 |
Payments to Acquire Royalty Interests in Mining Properties | 0 | 0 | 0 |
Payments on gold lease facility | ' | ' | 0 |
Additions to Restricted Assets | ' | 4,645 | ' |
Additions to funds held financing | ' | ' | -1,326 |
Payments for Repurchase of Common Stock | 0 | 0 | ' |
Proceeds From Repayment Intercompany Borrowings | 40,279 | 86,394 | 26,239 |
Proceeds from (Payments for) Other Financing Activities | 0 | 0 | 0 |
Net Cash Provided by (Used in) Financing Activities | 37,108 | 11,200 | 21,920 |
Cash and Cash Equivalents, Period Increase (Decrease) | 591 | -33 | -325 |
Cash and Cash Equivalents, at Carrying Value | 991 | 400 | 433 |
Non-Guarantor Subsidiaries | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | 151,491 | 256,683 | 397,016 |
Payments to Acquire Investments | -5,065 | 0 | -120 |
Payments for (Proceeds from) Investments | 5,447 | 60 | 60 |
Payments to Acquire Productive Assets | -46,430 | -65,322 | -58,133 |
Payments to Acquire Businesses, Net of Cash Acquired | 0 | 41 | ' |
Proceeds from Discontinued Operations Sale of Assets and Other | 768 | -581 | 163 |
Payments to Acquire Interest in Subsidiaries and Affiliates | 3,488 | 0 | 0 |
Net Cash Provided by (Used in) Investing Activities | -41,792 | -65,802 | -58,030 |
Proceeds from Convertible Debt | 0 | ' | 0 |
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | -4,889 | -13,326 | -17,043 |
Payments to Acquire Royalty Interests in Mining Properties | -57,034 | -74,734 | -73,191 |
Payments on gold lease facility | ' | ' | 0 |
Additions to Restricted Assets | ' | 0 | ' |
Additions to funds held financing | ' | ' | 0 |
Payments for Repurchase of Common Stock | 0 | 0 | ' |
Proceeds From Repayment Intercompany Borrowings | -17,405 | -153,476 | -189,463 |
Proceeds from (Payments for) Other Financing Activities | 0 | 0 | 0 |
Net Cash Provided by (Used in) Financing Activities | -79,328 | -241,536 | -279,697 |
Cash and Cash Equivalents, Period Increase (Decrease) | 30,371 | -50,655 | 59,289 |
Cash and Cash Equivalents, at Carrying Value | 68,623 | 38,252 | 88,907 |
Eliminations | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | 646,173 | -81,229 | -151,313 |
Payments to Acquire Investments | 0 | 0 | 0 |
Payments for (Proceeds from) Investments | 0 | 0 | 0 |
Payments to Acquire Productive Assets | 0 | 0 | 0 |
Payments to Acquire Businesses, Net of Cash Acquired | 0 | 0 | ' |
Proceeds from Discontinued Operations Sale of Assets and Other | 0 | 0 | 0 |
Payments to Acquire Interest in Subsidiaries and Affiliates | -646,173 | 81,229 | 151,313 |
Net Cash Provided by (Used in) Investing Activities | -646,173 | 81,229 | 151,313 |
Proceeds from Convertible Debt | 0 | ' | 0 |
Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities | 0 | 0 | 0 |
Payments to Acquire Royalty Interests in Mining Properties | 0 | 0 | 0 |
Payments on gold lease facility | ' | ' | 0 |
Additions to Restricted Assets | ' | 0 | ' |
Additions to funds held financing | ' | ' | 0 |
Payments for Repurchase of Common Stock | 0 | 0 | ' |
Proceeds From Repayment Intercompany Borrowings | 0 | 0 | 0 |
Proceeds from (Payments for) Other Financing Activities | 0 | 0 | 0 |
Net Cash Provided by (Used in) Financing Activities | 0 | 0 | 0 |
Cash and Cash Equivalents, Period Increase (Decrease) | 0 | 0 | 0 |
Cash and Cash Equivalents, at Carrying Value | $0 | $0 | $0 |
Supplemental_Guarantor_Informa4
Supplemental Guarantor Information Condensed Consolidated Balance Sheets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 29, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
Coeur Mining, Inc. | Coeur Mining, Inc. | Guarantor Subsidiaries | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Eliminations | Senior Notes due Two Thousand Twenty One [Member] | Senior Notes due Two Thousand Twenty One [Member] | Senior Notes due Two Thousand Twenty One [Member] | Equity Securities [Member] | |||||
Fair Value, Inputs, Level 1 [Member] | ||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000,000 | ' | ' |
Cash and cash equivalents | 206,690,000 | 125,440,000 | ' | ' | 137,076,000 | 86,788,000 | 991,000 | 400,000 | 68,623,000 | 38,252,000 | 0 | 0 | ' | ' | ' | ' |
Investments | 0 | 999,000 | 20,254,000 | ' | 0 | 999,000 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' |
Receivables | 81,074,000 | 62,438,000 | ' | ' | 530,000 | 8,520,000 | 19,982,000 | 7,643,000 | 60,562,000 | 46,275,000 | 0 | 0 | ' | ' | ' | ' |
Ore on leach pads | 50,495,000 | 22,991,000 | ' | ' | 0 | 0 | 50,495,000 | 22,991,000 | 0 | 0 | 0 | 0 | ' | ' | ' | ' |
Metal and other inventory | 132,023,000 | 170,670,000 | ' | ' | 0 | 0 | 35,290,000 | 45,906,000 | 96,733,000 | 124,764,000 | 0 | 0 | ' | ' | ' | ' |
Deferred tax assets | 35,008,000 | 2,458,000 | ' | ' | 0 | 0 | 0 | 0 | 35,008,000 | 2,458,000 | 0 | 0 | ' | ' | ' | ' |
Prepaid expenses and other | 25,940,000 | 21,186,000 | ' | ' | 4,128,000 | 3,395,000 | 5,282,000 | 5,947,000 | 16,530,000 | 11,844,000 | 0 | 0 | ' | ' | ' | ' |
Assets, Current | 531,230,000 | 406,182,000 | ' | ' | 141,734,000 | 99,702,000 | 112,040,000 | 82,887,000 | 277,456,000 | 223,593,000 | 0 | 0 | ' | ' | ' | ' |
Property, plant and equipment, net | 486,273,000 | 683,860,000 | ' | ' | 5,980,000 | 4,183,000 | 143,118,000 | 208,857,000 | 337,175,000 | 470,820,000 | 0 | 0 | ' | ' | ' | ' |
Mining properties, net | 1,751,501,000 | 1,991,951,000 | ' | ' | 0 | 0 | 235,537,000 | 301,506,000 | 1,515,964,000 | 1,690,445,000 | 0 | 0 | ' | ' | ' | ' |
Ore on leach pads | 31,528,000 | 21,356,000 | ' | ' | 0 | 0 | 31,528,000 | 21,356,000 | 0 | 0 | 0 | 0 | ' | ' | ' | ' |
Restricted assets | 7,014,000 | 24,970,000 | ' | ' | 830,000 | 18,922,000 | 50,000 | 60,000 | 6,134,000 | 5,988,000 | 0 | 0 | ' | ' | ' | ' |
Marketable securities | 14,521,000 | 27,065,000 | ' | ' | 0 | 27,065,000 | 14,521,000 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | 14,521,000 |
Receivables | 36,574,000 | 48,767,000 | ' | ' | 0 | 0 | 0 | 0 | 36,574,000 | 48,767,000 | 0 | 0 | ' | ' | ' | ' |
Unamortized Debt Issuance Expense | 10,812,000 | 3,713,000 | ' | ' | 10,812,000 | 3,713,000 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' |
Deferred tax assets | 1,189,000 | 955,000 | ' | ' | 955,000 | 955,000 | 0 | 0 | 234,000 | 0 | 0 | 0 | ' | ' | ' | ' |
Other Assets, Noncurrent | 15,336,000 | 12,582,000 | ' | ' | 53,858,000 | 39,120,000 | 14,616,000 | 12,360,000 | 320,425,000 | 318,330,000 | -373,563,000 | -357,228,000 | ' | ' | ' | ' |
Assets | 2,885,978,000 | 3,221,401,000 | 3,264,441,000 | ' | 1,456,649,000 | 1,747,094,000 | 597,625,000 | 627,026,000 | 4,072,761,000 | 4,043,805,000 | -3,241,057,000 | -3,196,524,000 | ' | ' | ' | ' |
Accounts payable | 53,847,000 | 57,482,000 | ' | ' | 1,963,000 | 2,954,000 | 15,864,000 | 17,211,000 | 36,020,000 | 37,317,000 | 0 | 0 | ' | ' | ' | ' |
Accrued liabilities and other | 6,843,000 | 10,002,000 | ' | ' | 1,545,000 | 1,418,000 | 950,000 | 4,014,000 | 4,348,000 | 4,570,000 | 0 | 0 | ' | ' | ' | ' |
Accrued income taxes | 3,119,000 | 27,108,000 | ' | ' | 34,000 | 257,000 | 0 | 0 | 3,085,000 | 26,851,000 | 0 | 0 | ' | ' | ' | ' |
Accrued payroll and related benefits | 18,329,000 | 21,306,000 | ' | ' | 5,152,000 | 7,477,000 | 7,062,000 | 8,158,000 | 6,115,000 | 5,671,000 | 0 | 0 | ' | ' | ' | ' |
Accrued interest payable | 9,975,000 | 478,000 | ' | ' | 9,962,000 | 463,000 | 4,000 | 5,000 | 1,063,000 | 1,002,000 | -1,054,000 | -992,000 | ' | ' | ' | ' |
Debt and capital leases | 2,505,000 | 55,983,000 | ' | ' | 0 | 48,081,000 | 1,262,000 | 3,013,000 | 309,472,000 | 309,539,000 | -308,229,000 | -304,650,000 | 0 | ' | 0 | ' |
Royalty obligations | 48,019,000 | 65,104,000 | ' | ' | 0 | 0 | 3,934,000 | 0 | 44,085,000 | 65,104,000 | 0 | 0 | ' | ' | ' | ' |
Reclamation and mine closure | 913,000 | 668,000 | ' | ' | 0 | 0 | 0 | 0 | 794,000 | 1,445,000 | 119,000 | -777,000 | ' | ' | ' | ' |
Deferred tax liabilities | 1,011,000 | 121,000 | ' | ' | 0 | 0 | 0 | 0 | 1,011,000 | 121,000 | 0 | 0 | ' | ' | ' | ' |
Liabilities, Current | 144,561,000 | 238,252,000 | ' | ' | 18,656,000 | 60,650,000 | 29,076,000 | 32,401,000 | 405,993,000 | 451,620,000 | -309,164,000 | -306,419,000 | ' | ' | ' | ' |
Debt and capital leases | 306,130,000 | 3,460,000 | ' | ' | 305,335,000 | 0 | 255,000 | 1,675,000 | 64,820,000 | 53,367,000 | -64,280,000 | -51,582,000 | 300,000,000 | ' | 0 | ' |
Royalty obligations | 65,142,000 | 141,879,000 | ' | ' | 0 | 0 | 17,696,000 | 0 | 47,446,000 | 141,879,000 | 0 | 0 | ' | ' | ' | ' |
Reclamation and mine closure | 57,515,000 | 34,670,000 | ' | ' | 0 | 0 | 45,894,000 | 23,149,000 | 11,740,000 | 10,744,000 | -119,000 | 777,000 | ' | ' | ' | ' |
Deferred tax liabilities | 556,246,000 | 577,488,000 | ' | ' | 37,095,000 | 115,425,000 | 1,618,000 | 0 | 517,533,000 | 462,063,000 | 0 | 0 | ' | ' | ' | ' |
Other long-term liabilities | 25,817,000 | 27,372,000 | ' | ' | 2,467,000 | 955,000 | 544,000 | 8,086,000 | 22,806,000 | 18,331,000 | 0 | 0 | ' | ' | ' | ' |
Intercompany Payable Receivable | 0 | 0 | ' | ' | -637,471,000 | -628,216,000 | 427,085,000 | 390,480,000 | 210,386,000 | 237,736,000 | 0 | 0 | ' | ' | ' | ' |
Liabilities, Noncurrent | 1,010,850,000 | 784,869,000 | ' | ' | -292,574,000 | -511,836,000 | 493,092,000 | 423,390,000 | 874,731,000 | 924,120,000 | -64,399,000 | -50,805,000 | ' | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 0 | 0 | ' | ' | 1,242,480,000 | 1,553,434,000 | 46,215,000 | 0 | 1,578,799,000 | 1,285,862,000 | -2,867,494,000 | -2,839,296,000 | ' | ' | ' | ' |
Common stock, par value $0.01 per share; authorized 150,000,000 shares, issued and outstanding 102,843,003 at December 31, 2013 and 90,342,338 at December 31, 2012 | 1,028,000 | 903,000 | ' | ' | 1,028,000 | 903,000 | 250,000 | 350,000 | 122,666,000 | 22,760,000 | -122,916,000 | -23,110,000 | ' | ' | ' | ' |
Additional paid-in capital | 2,781,164,000 | 2,601,254,000 | ' | ' | 2,781,164,000 | 2,601,254,000 | 79,712,000 | 107,734,000 | 3,258,037,000 | 2,748,173,000 | -3,337,749,000 | -2,855,907,000 | ' | ' | ' | ' |
Accumulated deficit | -1,046,719,000 | -396,156,000 | ' | ' | -1,046,719,000 | -396,156,000 | 401,000 | 63,151,000 | -588,666,000 | -102,868,000 | 588,265,000 | 39,717,000 | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -4,906,000 | -7,721,000 | ' | ' | -4,906,000 | -7,721,000 | -4,906,000 | 0 | 0 | 0 | 4,906,000 | 0 | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.88% | 7.88% | ' | ' |
Stockholders' Equity Attributable to Parent | 1,730,567,000 | 2,198,280,000 | 2,136,721,000 | 2,040,767,000 | 1,730,567,000 | 2,198,280,000 | 75,457,000 | 171,235,000 | 2,792,037,000 | 2,668,065,000 | -2,867,494,000 | -2,839,300,000 | ' | ' | ' | ' |
Liabilities and Equity | $2,885,978,000 | $3,221,401,000 | ' | ' | $1,456,649,000 | $1,747,094,000 | $597,625,000 | $627,026,000 | $4,072,761,000 | $4,043,805,000 | ($3,241,057,000) | ($3,196,524,000) | ' | ' | ' | ' |
Commitment_and_Contigencies_De
Commitment and Contigencies (Details Textual) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 15 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | |||||||||
Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 14, 2009 | Jan. 21, 2009 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Jul. 07, 1995 | Dec. 31, 2013 | Jul. 07, 1995 | Jul. 07, 1995 | Jun. 05, 2012 | Feb. 28, 2010 | |
oz | m | Rochester [Member] | Rochester [Member] | Rochester [Member] | Rochester [Member] | Echo Bay [Member] | Kensington [Member] | Kensington [Member] | Coeur Alaska Inc [Member] | Hazardous Waste On-Site [Member] | Hazardous Waste On-Site [Member] | ||||||
oz | Callahan Mining Corporation [Member] | Callahan Mining Corporation [Member] | |||||||||||||||
defendant | |||||||||||||||||
Commitment and Contingencies (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of ownership interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | 100.00% | ' | ' | ' |
Volume related to net smelter return royalty of future gold production | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' |
Purchase price and construction and development expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $32,500,000 | ' | ' |
Minimum royalty range for gold price per ounce | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' |
Gold price per ounce for minimum royalty range | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 | ' | ' | ' | ' |
Maximum royalty range for gold price per ounce | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | 2.50% | ' | ' | ' | ' |
Maximum royalty payable | ' | ' | ' | ' | ' | ' | ' | 250,000 | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Gold price per ounce for maximum royalty range | ' | ' | ' | ' | ' | ' | ' | 23.6 | ' | ' | ' | ' | 475 | ' | ' | ' | ' |
Royalty expenses | ' | ' | ' | ' | ' | ' | ' | ' | -1,500,000 | 2,200,000 | 3,500,000 | ' | ' | ' | ' | ' | ' |
Litigation Settlement, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,500,000 |
Number of defendants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' |
Maximum Height for Temporary Restriction on Mining | ' | ' | ' | ' | ' | 4,400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
One-Time Cash Payment for Mining Claim Settlement | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NSR royalty percentage | ' | 3.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
NSR royalty maximum amount | ' | 39,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) Related to Litigation Settlement | ' | $32,000,000 | ($32,046,000) | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional Commitment and Contingencies (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of labor agreements in South America | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of labor force covered by collective bargaining agreements | 10.40% | ' | 10.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty to be capped in terms of ounces of production | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchased royalty | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty agreement minimum obligation for the period | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty Agreement Minimum Obligation for Per Month | 4,167 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalty Agreement Period | ' | ' | ' | ' | ' | ' | '8 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Non-cash financing and investing activities: | ' | ' | ' | |||
Capital expenditures | $1,183 | [1] | $3,402 | [1] | $2,936 | [1] |
Capital lease obligations | 0 | 1,857 | 4,510 | |||
Non-cash capitalized interest | 2,694 | 845 | 681 | |||
Non-cash acquisitions and related deferred taxes | 317,826 | 64,133 | 0 | |||
Other cash flow information: | ' | ' | ' | |||
Interest paid | 14,139 | 6,092 | 11,033 | |||
Capitalized interest | 2,694 | 2,663 | 2,175 | |||
Income taxes paid | $26,585 | $54,680 | $44,396 | |||
[1] | Accrued capital expenditures are recognized in the consolidated statements of cash flows in the period in which they are paid. |
Summary_of_Quarterly_Financial2
Summary of Quarterly Financial Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Summary of quarterly results of operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales of metal | $168,847 | $200,825 | $204,525 | $171,797 | $205,929 | $230,593 | $254,406 | $204,564 | $745,994 | $895,492 | $1,021,200 |
NET INCOME (LOSS) | -581,528 | -46,265 | -35,040 | 12,270 | 37,550 | -15,821 | 22,973 | 3,975 | -650,563 | 48,677 | 93,499 |
Amortization | 63,916 | 60,874 | 57,653 | 50,436 | 52,397 | 52,844 | 61,024 | 52,592 | 232,879 | 218,857 | 224,500 |
Production costs | 100,227 | 131,728 | 142,924 | 88,784 | 106,473 | 124,365 | 131,182 | 92,542 | 463,663 | 454,562 | 419,547 |
Exploration | 5,440 | 3,305 | 6,774 | 6,841 | 6,441 | 6,957 | 6,305 | 6,567 | 22,360 | 26,270 | 19,128 |
Other operating expenses | 789,094 | 20,195 | 48,131 | 14,831 | 5,883 | 11,836 | 13,680 | 8,664 | ' | ' | ' |
Cash provided by operating activities | 10,391 | 26,804 | 63,338 | 12,934 | 61,694 | 79,735 | 113,203 | 17,002 | 113,467 | 271,634 | 416,173 |
Capital expenditures | $28,059 | $32,726 | $27,201 | $12,827 | $21,784 | $29,972 | $32,238 | $31,647 | $100,813 | $115,641 | $119,988 |
Basic income per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ($5.77) | ($0.46) | ($0.35) | $0.14 | $0.42 | ($0.18) | $0.26 | $0.04 | ($6.65) | $0.54 | $1.05 |
Diluted income per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ($5.77) | ($0.46) | ($0.35) | $0.14 | $0.42 | ($0.18) | $0.26 | $0.04 | ($6.65) | $0.54 | $1.04 |