Guarantor Subsidiaries [Text Block] | Note 13. Presented below are Hecla’s unaudited interim condensed consolidating financial statements as required by Rule 3 10 1934, Note 9 100% April 12, 2013, January 3, 2014. The unaudited interim condensed consolidating financial statements below have been prepared from our financial information on the same basis of accounting as the unaudited interim condensed consolidated financial statements set forth elsewhere in this report. Investments in the subsidiaries are accounted for under the equity method. Accordingly, the entries necessary to consolidate Hecla, the Guarantors, and our non-guarantor subsidiaries are reflected in the intercompany eliminations column. In the course of preparing consolidated financial statements, we eliminate the effects of various transactions conducted between Hecla and its subsidiaries and among the subsidiaries. While valid at an individual subsidiary level, such activities are eliminated in consolidation because, when taken as a whole, they do not represent business activity with third • Investments in subsidiaries • Capital contributions • Debt. • Dividends. • Deferred taxes may Separate financial statements of the Guarantors are not presented because the guarantees by the Guarantors are joint and several and full and unconditional, except for certain customary release provisions, including: (1) (2) (3) (4) (5) Effective December 31, 2015, 100% $240.8 five 29.7331% January 1, 2016. Unaudited Interim Condensed Consolidating Balance Sheets As of March 31, 2017 Parent Guarantors Non-Guarantors Eliminations Consolidated (in thousands) Assets Cash and cash equivalents $ 104,526 $ 29,783 $ 42,477 $ — $ 176,786 Other current assets 49,158 51,092 38,693 (574 ) 138,369 Properties, plants, and equipment - net 2,031 1,259,079 771,873 — 2,032,983 Intercompany receivable (payable) 453,210 (243,979 ) (314,308 ) 105,077 — Investments in subsidiaries 1,499,401 — — (1,499,401 ) — Other non-current assets 1,761 188,815 5,534 (137,787 ) 58,323 Total assets $ 2,110,087 $ 1,284,790 $ 544,269 $ (1,532,685 ) $ 2,406,461 Liabilities and Stockholders' Equity Current liabilities $ 47,831 $ 52,762 $ 47,968 $ (15,906 ) $ 132,655 Long-term debt 501,292 3,692 2,396 — 507,380 Non-current portion of accrued reclamation — 61,706 17,628 — 79,334 Non-current deferred tax liability — 11,767 126,635 (17,377 ) 121,025 Other non-current liabilities 46,661 5,328 (225 ) — 51,764 Stockholders' equity 1,514,303 1,149,535 349,867 (1,499,402 ) 1,514,303 Total liabilities and stockholders' equity $ 2,110,087 $ 1,284,790 $ 544,269 $ (1,532,685 ) $ 2,406,461 As of December 31, 2016 Parent Guarantors Non-Guarantors Eliminations Consolidated (in thousands) Assets Cash and cash equivalents $ 113,275 $ 24,388 $ 32,114 $ — $ 169,777 Other current assets 33,950 65,369 35,524 (1,236 ) 133,607 Properties, plants, and equipment - net 2,103 1,258,890 771,692 — 2,032,685 Intercompany receivable (payable) 404,121 (222,072 ) (307,018 ) 124,969 — Investments in subsidiaries 1,496,787 — — (1,496,787 ) — Other non-current assets 4,186 186,988 5,350 (160,916 ) 35,608 Total assets $ 2,054,422 $ 1,313,563 $ 537,662 $ (1,533,970 ) $ 2,371,677 Liabilities and Stockholders' Equity Current liabilities $ 22,401 $ 86,730 $ 41,348 $ (22,999 ) $ 127,480 Long-term debt 500,979 3,065 2,773 — 506,817 Non-current portion of accrued reclamation — 63,025 16,902 — 79,927 Non-current deferred tax liability — 14,212 121,600 (14,212 ) 121,600 Other non-current liabilities 51,198 5,108 (325 ) 28 56,009 Stockholders' equity 1,479,844 1,141,423 355,364 (1,496,787 ) 1,479,844 Total liabilities and stockholders' equity $ 2,054,422 $ 1,313,563 $ 537,662 $ (1,533,970 ) $ 2,371,677 Unaudited Interim Condensed Consolidating Statements of Operations Three Months Ended March 31, 2017 Parent Guarantors Non-Guarantors Eliminations Consolidated (in thousands) Revenues $ (4,093 ) $ 82,953 $ 63,684 $ — $ 142,544 Cost of sales (148 ) (42,772 ) (35,756 ) — (78,676 ) Depreciation, depletion, amortization — (15,766 ) (13,186 ) — (28,952 ) General and administrative (6,469 ) (2,319 ) (418 ) — (9,206 ) Exploration and pre-development (244 ) (1,901 ) (3,621 ) — (5,766 ) Gain on derivative contracts (7,809 ) — — — (7,809 ) Equity in earnings of subsidiaries 2,701 — — (2,701 ) — Other (expense) income 42,896 (3,116 ) (9,332 ) (44,820 ) (14,372 ) Income (loss) before income taxes 26,834 17,079 1,371 (47,521 ) (2,237 ) (Provision) benefit from income taxes — (8,969 ) (6,780 ) 44,820 29,071 Net income (loss) 26,834 8,110 (5,409 ) (2,701 ) 26,834 Preferred stock dividends (138 ) — — — (138 ) Income (loss) applicable to common stockholders 26,696 8,110 (5,409 ) (2,701 ) 26,696 Net income (loss) 26,834 8,110 (5,409 ) (2,701 ) 26,834 Changes in comprehensive income (loss) 3,204 — (89 ) 89 3,204 Comprehensive income (loss) $ 30,038 $ 8,110 $ (5,498 ) $ (2,612 ) $ 30,038 Three Months Ended March 31, 2016 Parent Guarantors Non- Guarantors Eliminations Consolidated (in thousands) Revenues $ (6,135 ) $ 81,269 $ 55,883 $ — $ 131,017 Cost of sales — (46,753 ) (27,567 ) — (74,320 ) Depreciation, depletion, amortization — (16,606 ) (9,269 ) — (25,875 ) General and administrative (5,240 ) (4,523 ) (451 ) — (10,214 ) Exploration and pre-development (45 ) (1,287 ) (2,022 ) — (3,354 ) Gain on derivative contracts — — — — — Equity in earnings of subsidiaries (20,991 ) — — 20,991 — Other (expense) income 31,793 4,336 (35,518 ) (16,829 ) (16,218 ) Income (loss) before income taxes (618 ) 16,436 (18,944 ) 4,162 1,036 (Provision) benefit from income taxes — (4,833 ) (13,650 ) 16,829 (1,654 ) Net income (loss) (618 ) 11,603 (32,594 ) 20,991 (618 ) Preferred stock dividends (138 ) — — — (138 ) Income (loss) applicable to common stockholders (756 ) 11,603 (32,594 ) 20,991 (756 ) Net income (loss) (618 ) 11,603 (32,594 ) 20,991 (618 ) Changes in comprehensive income (loss) 1,065 8 1,060 (1,068 ) 1,065 Comprehensive income (loss) $ 447 $ 11,611 $ (31,534 ) $ 19,923 $ 447 Unaudited Interim Condensed Consolidating Statements of Cash Flows Three Months Ended March 31, 2017 Parent Guarantors Non- Guarantors Eliminations Consolidated (in thousands) Cash flows from operating activities $ 40,953 $ 11,508 $ 15,642 $ (29,818 ) $ 38,285 Cash flows from investing activities: Additions to properties, plants, and equipment — (7,540 ) (14,118 ) — (21,658 ) Other investing activities, net (7,479 ) 61 — — (7,418 ) Cash flows from financing activities: Dividends paid to stockholders (1,127 ) — — — (1,127 ) Payments on debt — (1,658 ) (407 ) — (2,065 ) Other financing activity (41,096 ) 3,024 7,432 29,818 (822 ) Effect of exchange rate changes on cash — — 1,814 — 1,814 Changes in cash and cash equivalents (8,749 ) 5,395 10,363 — 7,009 Beginning cash and cash equivalents 113,275 24,388 32,114 — 169,777 Ending cash and cash equivalents $ 104,526 $ 29,783 $ 42,477 $ — $ 176,786 Three Months Ended March 31, 2016 Parent Guarantors Non- Guarantors Eliminations Consolidated (in thousands) Cash flows from operating activities $ 7,848 $ (21,658 ) $ (7,884 ) $ 40,442 $ 18,748 Cash flows from investing activities: Additions to properties, plants, and equipment (53 ) (18,552 ) (16,049 ) — (34,654 ) Other investing activities, net — 215 (3,900 ) — (3,685 ) Cash flows from financing activities: Dividends paid to stockholders (1,090 ) — — — (1,090 ) Payments on debt — (2,556 ) (226 ) (2,782 ) Other financing activity (9,833 ) 27,189 23,823 (40,442 ) 737 Effect of exchange rate changes on cash — — 1,535 — 1,535 Changes in cash and cash equivalents (3,128 ) (15,362 ) (2,701 ) — (21,191 ) Beginning cash and cash equivalents 94,167 42,692 18,350 — 155,209 Ending cash and cash equivalents $ 91,039 $ 27,330 $ 15,649 $ — $ 134,018 |