Supplemental Guarantor Information | 6 Months Ended |
Jun. 30, 2014 |
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 $450 million aggregate principal amount of Senior Notes. 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 and the guarantees are full and unconditional. There are no restrictions on the ability of Coeur to obtain funds from its subsidiaries by dividend or loan. |
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CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) |
THREE MONTHS ENDED JUNE 30, 2014 |
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| | | | | | | | | | | | | | | | | | | | |
| | Coeur Mining, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Revenue | | $ | — | | | $ | 60,748 | | | $ | 103,814 | | | $ | — | | | $ | 164,562 | |
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COSTS AND EXPENSES | | | | | | | | | | |
Costs applicable to sales(1) | | — | | | 47,599 | | | 71,088 | | | — | | | 118,687 | |
|
Amortization | | 448 | | | 16,784 | | | 24,190 | | | — | | | 41,422 | |
|
General and administrative | | 9,716 | | | (163 | ) | | (155 | ) | | — | | | 9,398 | |
|
Exploration | | 950 | | | 2,483 | | | 1,720 | | | — | | | 5,153 | |
|
Pre-development, reclamation, and other | | 352 | | | 1,307 | | | 7,101 | | | — | | | 8,760 | |
|
Total costs and expenses | | 11,466 | | | 68,010 | | | 103,944 | | | — | | | 183,420 | |
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OTHER INCOME (EXPENSE), NET | | | | | | | | | | |
Fair value adjustments, net | | (1,456 | ) | | (1,837 | ) | | (4,989 | ) | | — | | | (8,282 | ) |
|
Impairment of marketable securities | | — | | | (934 | ) | | — | | | — | | | (934 | ) |
|
Interest income and other, net | | 1,075 | | | 12 | | | (507 | ) | | (696 | ) | | (116 | ) |
|
Interest expense, net of capitalized interest | | (9,215 | ) | | (314 | ) | | (3,477 | ) | | 696 | | | (12,310 | ) |
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Total other income (expense), net | | (9,596 | ) | | (3,073 | ) | | (8,973 | ) | | — | | | (21,642 | ) |
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Loss before income and mining taxes | | (21,062 | ) | | (10,335 | ) | | (9,103 | ) | | — | | | (40,500 | ) |
|
Income and mining tax (expense) benefit | | 273 | | | (419 | ) | | (2,475 | ) | | — | | | (2,621 | ) |
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Total loss after income and mining taxes | | (20,789 | ) | | (10,754 | ) | | (11,578 | ) | | — | | | (43,121 | ) |
|
Equity income (loss) in consolidated subsidiaries | | (22,332 | ) | | 121 | | | — | | | 22,211 | | | — | |
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NET INCOME (LOSS) | | $ | (43,121 | ) | | $ | (10,633 | ) | | $ | (11,578 | ) | | $ | 22,211 | | | $ | (43,121 | ) |
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OTHER COMPREHENSIVE INCOME (LOSS), net of tax: | | | | | | | | | | |
Unrealized gain (loss) on marketable securities, net of tax | | (773 | ) | | (847 | ) | | — | | | 847 | | | (773 | ) |
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Reclassification adjustments for impairment of marketable securities | | 572 | | | 572 | | | — | | | (572 | ) | | 572 | |
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Reclassification adjustments for realized loss on sale of marketable securities | | 17 | | | 17 | | | — | | | (17 | ) | | 17 | |
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Other comprehensive income (loss) | | (184 | ) | | (258 | ) | | — | | | 258 | | | (184 | ) |
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COMPREHENSIVE INCOME (LOSS) | | $ | (43,305 | ) | | $ | (10,891 | ) | | $ | (11,578 | ) | | $ | 22,469 | | | $ | (43,305 | ) |
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(1) Excludes amortization. |
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CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) |
THREE MONTHS ENDED JUNE 30, 2013 |
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| | | | | | | | | | | | | | | | | | | | |
| | Coeur Mining, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Revenue | | $ | — | | | $ | 65,754 | | | $ | 138,771 | | | $ | — | | | $ | 204,525 | |
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COSTS AND EXPENSES | | | | | | | | | | |
Costs applicable to sales(1) | | — | | | 52,669 | | | 89,717 | | | — | | | 142,386 | |
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Amortization | | 231 | | | 15,151 | | | 41,512 | | | — | | | 56,894 | |
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General and administrative | | 12,617 | | | 1,375 | | | 1,034 | | | — | | | 15,026 | |
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Exploration | | 314 | | | 1,398 | | | 5,062 | | | — | | | 6,774 | |
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Litigation settlement | | — | | | 32,046 | | | — | | | — | | | 32,046 | |
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Pre-development, reclamation, and other | | — | | | 1,135 | | | 682 | | | — | | | 1,817 | |
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Total costs and expenses | | 13,162 | | | 103,774 | | | 138,007 | | | — | | | 254,943 | |
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OTHER INCOME (EXPENSE), NET | | | | | | | | | | |
Fair value adjustments, net | | (662 | ) | | 6,350 | | | 61,066 | | | — | | | 66,754 | |
|
Impairment of marketable securities | | (17,192 | ) | | — | | | — | | | — | | | (17,192 | ) |
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Interest income and other, net | | 1,309 | | | 241 | | | (247 | ) | | (884 | ) | | 419 | |
|
Interest expense, net of capitalized interest | | (6,623 | ) | | (100 | ) | | (5,091 | ) | | 884 | | | (10,930 | ) |
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Total other income (expense), net | | (23,168 | ) | | 6,491 | | | 55,728 | | | — | | | 39,051 | |
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Loss before income and mining taxes | | (36,330 | ) | | (31,529 | ) | | 56,492 | | | — | | | (11,367 | ) |
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Income and mining tax (expense) benefit | | (824 | ) | | (730 | ) | | (22,119 | ) | | — | | | (23,673 | ) |
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Total loss after income and mining taxes | | (37,154 | ) | | (32,259 | ) | | 34,373 | | | — | | | (35,040 | ) |
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Equity income (loss) in consolidated subsidiaries | | 2,114 | | | — | | | — | | | (2,114 | ) | | — | |
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NET INCOME (LOSS) | | $ | (35,040 | ) | | $ | (32,259 | ) | | $ | 34,373 | | | $ | (2,114 | ) | | $ | (35,040 | ) |
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OTHER COMPREHENSIVE INCOME (LOSS), net of tax: | | | | | | | | | | |
Unrealized gain (loss) on marketable securities, net of tax | | (7,491 | ) | | — | | | — | | | — | | | (7,491 | ) |
|
Reclassification adjustments for impairment of marketable securities | | 17,192 | | | — | | | — | | | — | | | 17,192 | |
|
Other comprehensive income (loss) | | 9,701 | | | — | | | — | | | — | | | 9,701 | |
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COMPREHENSIVE INCOME (LOSS) | | $ | (25,339 | ) | | $ | (32,259 | ) | | $ | 34,373 | | | $ | (2,114 | ) | | $ | (25,339 | ) |
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(1) Excludes amortization. |
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CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
THREE MONTHS ENDED JUNE 30, 2014 |
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| | | | | | | | | | | | | | | | | | | | |
| | Coeur Mining, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | |
Cash provided by (used in) operating activities | | $ | (35,100 | ) | | $ | 4,210 | | | $ | 39,169 | | | $ | 22,211 | | | 30,490 | |
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CASH FLOWS FROM INVESTING ACTIVITIES | | — | | | — | | | — | | | | | |
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Capital expenditures | | (106 | ) | | (7,945 | ) | | (7,305 | ) | | — | | | (15,356 | ) |
|
Purchase of short term investments and marketable securities | | (2,106 | ) | | (33 | ) | | — | | | — | | | (2,139 | ) |
|
Sales and maturities of short term investments | | 217 | | | 583 | | | — | | | — | | | 800 | |
|
Acquisitions | | — | | | (2,250 | ) | | — | | | — | | | (2,250 | ) |
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Other | | — | | | 4 | | | 8 | | | — | | | 12 | |
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Investments in consolidated subsidiaries | | 65,832 | | | (121 | ) | | — | | | (65,711 | ) | | — | |
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CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | | 63,837 | | | (9,762 | ) | | (7,297 | ) | | (65,711 | ) | | (18,933 | ) |
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CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | |
Payments on long-term debt, capital leases, and associated costs | | (403 | ) | | (2,131 | ) | | (317 | ) | | — | | | (2,851 | ) |
|
Gold production royalty payments | | — | | | — | | | (12,345 | ) | | — | | | (12,345 | ) |
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Net intercompany financing activity | | (20,555 | ) | | 7,828 | | | (30,773 | ) | | 43,500 | | | — | |
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Other | | (160 | ) | | — | | | — | | | — | | | (160 | ) |
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CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | | (21,118 | ) | | 5,697 | | | (43,435 | ) | | 43,500 | | | (15,356 | ) |
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NET CHANGE IN CASH AND CASH EQUIVALENTS | | 7,619 | | | 145 | | | (11,563 | ) | | — | | | (3,799 | ) |
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Cash and cash equivalents at beginning of period | | 204,045 | | | 754 | | | 68,133 | | | — | | | 272,932 | |
|
Cash and cash equivalents at end of period | | $ | 211,664 | | | $ | 899 | | | $ | 56,570 | | | $ | — | | | $ | 269,133 | |
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CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
THREE MONTHS ENDED JUNE 30, 2013 |
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| | | | | | | | | | | | | | | | | | | | |
| | Coeur Mining, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | |
Cash provided by (used in) operating activities | | $ | (4,114 | ) | | $ | 3,768 | | | $ | 65,798 | | | $ | (2,114 | ) | | $ | 63,338 | |
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CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | |
Capital expenditures | | (129 | ) | | (14,003 | ) | | (13,069 | ) | | — | | | (27,201 | ) |
|
Purchase of short term investments and marketable securities | | — | | | (23 | ) | | (660 | ) | | — | | | (683 | ) |
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Sales and maturities of short term investments | | 1,498 | | | 24 | | | — | | | — | | | 1,522 | |
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Acquisitions | | (101,648 | ) | | — | | | — | | | — | | | (101,648 | ) |
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Other | | (18 | ) | | 205 | | | 67 | | | — | | | 254 | |
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Investments in consolidated subsidiaries | | (5,602 | ) | | | | | 3,488 | | | 2,114 | | | — | |
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CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | | (105,899 | ) | | (13,797 | ) | | (10,174 | ) | | 2,114 | | | (127,756 | ) |
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CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | |
Payments on long-term debt, capital leases, and associated costs | | — | | | (715 | ) | | (1,142 | ) | | — | | | (1,857 | ) |
|
Gold production royalty payments | | — | | | — | | | (15,480 | ) | | — | | | (15,480 | ) |
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Net intercompany financing activity | | (11,666 | ) | | 11,183 | | | 483 | | | — | | | — | |
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Other | | (25 | ) | | — | | | — | | | — | | | (25 | ) |
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CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | | (11,691 | ) | | 10,468 | | | (16,139 | ) | | — | | | (17,362 | ) |
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NET CHANGE IN CASH AND CASH EQUIVALENTS | | (121,704 | ) | | 439 | | | 39,485 | | | — | | | (81,780 | ) |
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Cash and cash equivalents at beginning of period | | 308,585 | | | 284 | | | 22,442 | | | — | | | 331,311 | |
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Cash and cash equivalents at end of period | | $ | 186,881 | | | $ | 723 | | | $ | 61,927 | | | $ | — | | | $ | 249,531 | |
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CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) |
SIX MONTHS ENDED JUNE 30, 2014 |
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| | | | | | | | | | | | | | | | | | | | |
| | Coeur Mining, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Revenue | | $ | — | | | $ | 121,248 | | | $ | 202,947 | | | $ | — | | | $ | 324,195 | |
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COSTS AND EXPENSES | | | | | | | | | | |
Costs applicable to sales(1) | | — | | | 90,837 | | | 134,746 | | | — | | | 225,583 | |
|
Amortization | | 825 | | | 32,080 | | | 48,944 | | | — | | | 81,849 | |
|
General and administrative | | 22,768 | | | 3 | | | 523 | | | — | | | 23,294 | |
|
Exploration | | 1,536 | | | 4,904 | | | 2,930 | | | — | | | 9,370 | |
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Pre-development, reclamation, and other | | 352 | | | 2,843 | | | 12,580 | | | — | | | 15,775 | |
|
Total costs and expenses | | 25,481 | | | 130,667 | | | 199,723 | | | — | | | 355,871 | |
|
Fair value adjustments, net | | (1,982 | ) | | (2,510 | ) | | (15,225 | ) | | — | | | (19,717 | ) |
|
Impairment of marketable securities | | — | | | (3,522 | ) | | — | | | — | | | (3,522 | ) |
|
Interest income and other, net | | 1,915 | | | 58 | | | (2,720 | ) | | (1,353 | ) | | (2,100 | ) |
|
Interest expense, net of capitalized interest | | (19,398 | ) | | (340 | ) | | (6,980 | ) | | 1,353 | | | (25,365 | ) |
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Total other income (expense), net | | (19,465 | ) | | (6,314 | ) | | (24,925 | ) | | — | | | (50,704 | ) |
|
Loss before income and mining taxes | | (44,946 | ) | | (15,733 | ) | | (21,701 | ) | | — | | | (82,380 | ) |
|
Income and mining tax (expense) benefit | | 127 | | | (419 | ) | | 2,360 | | | — | | | 2,068 | |
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Total loss after income and mining taxes | | (44,819 | ) | | (16,152 | ) | | (19,341 | ) | | — | | | (80,312 | ) |
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Equity income (loss) in consolidated subsidiaries | | (35,493 | ) | | 299 | | | — | | | 35,194 | | | — | |
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NET INCOME (LOSS) | | $ | (80,312 | ) | | $ | (15,853 | ) | | $ | (19,341 | ) | | $ | 35,194 | | | $ | (80,312 | ) |
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OTHER COMPREHENSIVE INCOME (LOSS), net of tax: | | | | | | | | | | |
Unrealized gain (loss) on marketable securities, net of tax | | (401 | ) | | (380 | ) | | — | | | 380 | | | (401 | ) |
|
Reclassification adjustments for impairment of marketable securities | | 2,159 | | | 2,159 | | | — | | | (2,159 | ) | | 2,159 | |
|
Reclassification adjustments for realized loss on sale of marketable securities | | 17 | | | 17 | | | — | | | (17 | ) | | 17 | |
|
Other comprehensive income (loss) | | 1,775 | | | 1,796 | | | — | | | (1,796 | ) | | 1,775 | |
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COMPREHENSIVE INCOME (LOSS) | | $ | (78,537 | ) | | $ | (14,057 | ) | | $ | (19,341 | ) | | $ | 33,398 | | | $ | (78,537 | ) |
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(1) Excludes amortization. |
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CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) |
SIX MONTHS ENDED JUNE 30, 2013 |
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| | | | | | | | | | | | | | | | | | | | |
| | Coeur Mining, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Revenue | | $ | — | | | $ | 144,502 | | | $ | 231,820 | | | $ | — | | | $ | 376,322 | |
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COSTS AND EXPENSES | | | | | | | | | | |
Costs applicable to sales(1) | | — | | | 97,010 | | | 133,434 | | | — | | | 230,444 | |
|
Amortization | | 450 | | | 30,295 | | | 75,844 | | | — | | | 106,589 | |
|
General and administrative | | 22,354 | | | 1,542 | | | 1,357 | | | — | | | 25,253 | |
|
Exploration | | 663 | | | 2,862 | | | 10,090 | | | — | | | 13,615 | |
|
Litigation settlement | | — | | | 32,046 | | | — | | | — | | | 32,046 | |
|
Pre-development, reclamation, and other | | — | | | 1,563 | | | 5,600 | | | — | | | 7,163 | |
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Total costs and expenses | | 23,467 | | | 165,318 | | | 226,325 | | | — | | | 415,110 | |
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OTHER INCOME (EXPENSE), NET | | | | | | . | | | | |
Fair value adjustments, net | | (1,522 | ) | | 10,577 | | | 75,495 | | | — | | | 84,550 | |
|
Impairment of marketable securities | | (17,227 | ) | | — | | | — | | | — | | | (17,227 | ) |
|
Interest income and other, net | | 2,208 | | | 475 | | | 3,316 | | | (1,724 | ) | | 4,275 | |
|
Interest expense, net of capitalized interest | | (12,320 | ) | | (364 | ) | | (9,702 | ) | | 1,724 | | | (20,662 | ) |
|
Total other income (expense), net | | (28,861 | ) | | 10,688 | | | 69,109 | | | — | | | 50,936 | |
|
Loss before income and mining taxes | | (52,328 | ) | | (10,128 | ) | | 74,604 | | | — | | | 12,148 | |
|
Income and mining tax (expense) benefit | | (3,310 | ) | | (1,510 | ) | | (30,098 | ) | | — | | | (34,918 | ) |
|
Total loss after income and mining taxes | | (55,638 | ) | | (11,638 | ) | | 44,506 | | | — | | | (22,770 | ) |
|
Equity income (loss) in consolidated subsidiaries | | 32,868 | | | — | | | — | | | (32,868 | ) | | — | |
|
NET INCOME (LOSS) | | $ | (22,770 | ) | | $ | (11,638 | ) | | $ | 44,506 | | | $ | (32,868 | ) | | $ | (22,770 | ) |
|
OTHER COMPREHENSIVE INCOME (LOSS), net of tax: | | | | | | | | | | |
Unrealized gain (loss) on marketable securities, net of tax | | (11,057 | ) | | — | | | — | | | — | | | (11,057 | ) |
|
Reclassification adjustments for impairment of marketable securities | | 17,227 | | | — | | | — | | | — | | | 17,227 | |
|
Other comprehensive income (loss) | | 6,170 | | | — | | | — | | | — | | | 6,170 | |
|
COMPREHENSIVE INCOME (LOSS) | | $ | (16,600 | ) | | $ | (11,638 | ) | | $ | 44,506 | | | $ | (32,868 | ) | | $ | (16,600 | ) |
|
(1) Excludes amortization. |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
SIX MONTHS ENDED JUNE 30, 2014 |
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| | | | | | | | | | | | | | | | | | | | |
| | Coeur Mining, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | |
Cash provided by (used in) operating activities | | $ | (72,723 | ) | | $ | 9,142 | | | $ | 49,251 | | | $ | 35,194 | | | 20,864 | |
|
CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | |
Capital expenditures | | (1,051 | ) | | (13,615 | ) | | (12,626 | ) | | — | | | (27,292 | ) |
|
Purchase of short term investments and marketable securities | | (47,903 | ) | | (457 | ) | | — | | | — | | | (48,360 | ) |
|
Sales and maturities of short term investments | | 307 | | | 583 | | | — | | | — | | | 890 | |
|
Acquisitions | | — | | | (2,250 | ) | | — | | | — | | | (2,250 | ) |
|
Other | | — | | | 4 | | | (17 | ) | | — | | | (13 | ) |
|
Investments in consolidated subsidiaries | | 78,993 | | | (299 | ) | | — | | | (78,694 | ) | | — | |
|
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | | 30,346 | | | (16,034 | ) | | (12,643 | ) | | (78,694 | ) | | (77,025 | ) |
|
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | |
Issuance of notes and bank borrowings | | 153,000 | | | — | | | — | | | — | | | 153,000 | |
|
Payments on long-term debt, capital leases, and associated costs | | (3,599 | ) | | (2,543 | ) | | (820 | ) | | — | | | (6,962 | ) |
|
Gold production royalty payments | | — | | | — | | | (27,028 | ) | | — | | | (27,028 | ) |
|
Net intercompany financing activity | | (32,030 | ) | | 9,343 | | | (20,813 | ) | | 43,500 | | | — | |
|
Other | | (406 | ) | | — | | | — | | | — | | | (406 | ) |
|
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | | 116,965 | | | 6,800 | | | (48,661 | ) | | 43,500 | | | 118,604 | |
|
NET CHANGE IN CASH AND CASH EQUIVALENTS | | 74,588 | | | (92 | ) | | (12,053 | ) | | — | | | 62,443 | |
|
Cash and cash equivalents at beginning of period | | 137,076 | | | 991 | | | 68,623 | | | — | | | 206,690 | |
|
Cash and cash equivalents at end of period | | $ | 211,664 | | | $ | 899 | | | $ | 56,570 | | | $ | — | | | $ | 269,133 | |
|
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CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
SIX MONTHS ENDED JUNE 30, 2013 |
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| | | | | | | | | | | | | | | | | | | | |
| | Coeur Mining, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
CASH FLOWS FROM OPERATING ACTIVITIES: | | | | | | | | | | |
Cash provided by (used in) operating activities | | $ | 18,860 | | | $ | 20,659 | | | $ | 69,621 | | | $ | (32,868 | ) | | $ | 76,272 | |
|
CASH FLOWS FROM INVESTING ACTIVITIES | | | | | | | | | | |
Capital expenditures | | (557 | ) | | (20,629 | ) | | (18,842 | ) | | — | | | (40,028 | ) |
|
Purchase of short term investments and marketable securities | | (1,598 | ) | | (39 | ) | | (3,695 | ) | | — | | | (5,332 | ) |
|
Sales and maturities of short term investments | | 2,873 | | | 38 | | | 3,433 | | | — | | | 6,344 | |
|
Acquisitions | | (113,214 | ) | | — | | | — | | | — | | | (113,214 | ) |
|
Other | | (6 | ) | | 443 | | | 772 | | | — | | | 1,209 | |
|
Investments in consolidated subsidiaries | | (36,355 | ) | | — | | | 3,487 | | | 32,868 | | | — | |
|
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | | (148,857 | ) | | (20,187 | ) | | (14,845 | ) | | 32,868 | | | (151,021 | ) |
|
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | |
Issuance of notes and bank borrowings | | 300,000 | | | — | | | — | | | — | | | 300,000 | |
|
Payments on long-term debt, capital leases, and associated costs | | (52,565 | ) | | (1,955 | ) | | (2,677 | ) | | — | | | (57,197 | ) |
|
Gold production royalty payments | | — | | | — | | | (30,929 | ) | | — | | | (30,929 | ) |
|
Share repurchases | | (12,557 | ) | | — | | | — | | | — | | | (12,557 | ) |
|
Net intercompany financing activity | | (4,311 | ) | | 1,806 | | | 2,505 | | | — | | | — | |
|
Other | | (477 | ) | | — | | | — | | | — | | | (477 | ) |
|
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | | 230,090 | | | (149 | ) | | (31,101 | ) | | — | | | 198,840 | |
|
NET CHANGE IN CASH AND CASH EQUIVALENTS | | 100,093 | | | 323 | | | 23,675 | | | — | | | 124,091 | |
|
Cash and cash equivalents at beginning of period | | 86,788 | | | 400 | | | 38,252 | | | — | | | 125,440 | |
|
Cash and cash equivalents at end of period | | $ | 186,881 | | | $ | 723 | | | $ | 61,927 | | | $ | — | | | $ | 249,531 | |
|
|
CONDENSED CONSOLIDATING BALANCE SHEET |
JUNE 30, 2014 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Coeur Mining, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
ASSETS | | | | | | | | |
CURRENT ASSETS | | | | | | | | | | |
Cash and cash equivalents | | $ | 211,664 | | | $ | 899 | | | $ | 56,570 | | | $ | — | | | $ | 269,133 | |
|
Investments | | 47,642 | | | | | | | | | — | | | 47,642 | |
|
Receivables | | 83 | | | 10,420 | | | 58,190 | | | — | | | 68,693 | |
|
Ore on leach pads | | — | | | 44,964 | | | — | | | — | | | 44,964 | |
|
Inventory | | — | | | 47,331 | | | 90,313 | | | — | | | 137,644 | |
|
Deferred tax assets | | — | | | — | | | 35,079 | | | — | | | 35,079 | |
|
Prepaid expenses and other | | 2,573 | | | 8,546 | | | 12,474 | | | — | | | 23,593 | |
|
| | 261,962 | | | 112,160 | | | 252,626 | | | — | | | 626,748 | |
|
NON-CURRENT ASSETS | | | | | | | | | | |
Property, plant and equipment, net | | 6,234 | | | 153,551 | | | 323,002 | | | — | | | 482,787 | |
|
Mining properties, net | | — | | | 235,216 | | | 1,493,451 | | | — | | | 1,728,667 | |
|
Ore on leach pads | | — | | | 46,956 | | | — | | | — | | | 46,956 | |
|
Restricted assets | | 830 | | | 50 | | | 6,630 | | | — | | | 7,510 | |
|
Marketable securities | | — | | | 13,761 | | | — | | | — | | | 13,761 | |
|
Receivables | | — | | | — | | | 38,424 | | | — | | | 38,424 | |
|
Debt issuance costs, net | | 11,031 | | | — | | | — | | | — | | | 11,031 | |
|
Deferred tax assets | | 955 | | | | | | (147 | ) | | — | | | 808 | |
|
Net investment in subsidiaries | | 1,165,274 | | | 24,277 | | | 1,601,038 | | | (2,790,589 | ) | | — | |
|
Other | | 55,212 | | | 31,601 | | | 324,941 | | | (400,924 | ) | | 10,830 | |
|
TOTAL ASSETS | | $ | 1,501,498 | | | $ | 617,572 | | | $ | 4,039,965 | | | $ | (3,191,513 | ) | | $ | 2,967,522 | |
|
| | | | | | | | | | |
LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | | |
CURRENT LIABILITIES | | | | | | | | | | |
Accounts payable | | $ | 2,209 | | | $ | 16,456 | | | $ | 30,986 | | | $ | — | | | $ | 49,651 | |
|
Accrued liabilities and other | | 19,768 | | | 7,370 | | | 14,577 | | | (1,083 | ) | | 40,632 | |
|
Debt | | 5,334 | | | 5,637 | | | 334,873 | | | (334,279 | ) | | 11,565 | |
|
Royalty obligations | | — | | | 4,716 | | | 46,371 | | | — | | | 51,087 | |
|
Reclamation | | — | | | — | | | 633 | | | 119 | | | 752 | |
|
Deferred tax liabilities | | — | | | 847 | | | 1,011 | | | — | | | 1,858 | |
|
| | 27,311 | | | 35,026 | | | 428,451 | | | (335,243 | ) | | 155,545 | |
|
NON-CURRENT LIABILITIES | | | | | | | | | | |
Debt | | 452,855 | | | 15,345 | | | 65,932 | | | (65,562 | ) | | 468,570 | |
|
Royalty obligations | | — | | | 18,941 | | | 39,564 | | | — | | | 58,505 | |
|
Reclamation | | — | | | 47,467 | | | 12,409 | | | (119 | ) | | 59,757 | |
|
Deferred tax liabilities | | 31,595 | | | 1,618 | | | 507,019 | | | — | | | 540,232 | |
|
Other long-term liabilities | | 2,901 | | | 518 | | | 24,861 | | | — | | | 28,280 | |
|
Intercompany payable (receivable) | | (669,797 | ) | | 437,030 | | | 232,767 | | | — | | | — | |
|
| | (182,446 | ) | | 520,919 | | | 882,552 | | | (65,681 | ) | | 1,155,344 | |
|
STOCKHOLDERS’ EQUITY | | | | | | | | | | |
Common stock | | 1,034 | | | 250 | | | 123,167 | | | (123,417 | ) | | 1,034 | |
|
Additional paid-in capital | | 2,785,761 | | | 79,712 | | | 3,258,037 | | | (3,337,749 | ) | | 2,785,761 | |
|
Accumulated deficit | | (1,127,031 | ) | | (15,226 | ) | | (652,242 | ) | | 667,468 | | | (1,127,031 | ) |
|
Accumulated other comprehensive income (loss) | | (3,131 | ) | | (3,109 | ) | | — | | | 3,109 | | | (3,131 | ) |
|
| | 1,656,633 | | | 61,627 | | | 2,728,962 | | | (2,790,589 | ) | | 1,656,633 | |
|
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | | $ | 1,501,498 | | | $ | 617,572 | | | $ | 4,039,965 | | | $ | (3,191,513 | ) | | $ | 2,967,522 | |
|
|
CONDENSED CONSOLIDATING BALANCE SHEET |
DECEMBER 31, 2013 |
|
|
| | | | | | | | | | | | | | | | | | | | |
| | 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 pads | | — | | | 50,495 | | | — | | | — | | | 50,495 | |
|
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 pads | | — | | | 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 | | 16,693 | | | 8,016 | | | 14,611 | | | (1,054 | ) | | 38,266 | |
|
Debt | | — | | | 1,262 | | | 309,472 | | | (308,229 | ) | | 2,505 | |
|
Royalty obligations | | — | | | 3,934 | | | 44,085 | | | — | | | 48,019 | |
|
Reclamation | | — | | | — | | | 794 | | | 119 | | | 913 | |
|
Deferred tax liabilities | | — | | | — | | | 1,011 | | | — | | | 1,011 | |
|
| | 18,656 | | | 29,076 | | | 405,993 | | | (309,164 | ) | | 144,561 | |
|
NON-CURRENT LIABILITIES | | | | | | | | | | |
Debt | | 305,335 | | | 255 | | | 64,820 | | | (64,280 | ) | | 306,130 | |
|
Royalty obligations | | — | | | 17,696 | | | 47,446 | | | — | | | 65,142 | |
|
Reclamation | | — | | | 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 income (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 | |
|
| | | | | | | | | | | | | | | | | | | | | |