v3.25.2
Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company’s operating segments include the Las Chispas, Palmarejo, Rochester, Kensington and Wharf mines, and the Silvertip exploration project. Except for the Silvertip exploration project, all operating segments are engaged in the discovery, mining, and production of gold and/or silver. The Silvertip exploration project is engaged in the discovery of silver, zinc, lead, and other related metals. “Other” includes certain mineral interests, strategic equity investments, corporate office, elimination of intersegment transactions, and other items necessary to reconcile to consolidated amounts.
The Company’s Chief Operating Decision Maker (“CODM”), composed of Mitchell J. Krebs, Chairman, President and Chief Executive Officer, Thomas S. Whelan, Senior Vice President and Chief Financial Officer, and Michael Routledge, Senior Vice President and Chief Operating Officer, evaluates performance and allocates resources for all of the Company’s reportable segments based on Income (loss) from operations. The CODM uses segment Income (loss) from operations to allocate resources such as corporate employees, and financial or capital resources for each segment during the annual budget and forecasting processes. The CODM considers budget-to-actual variances on a monthly basis using the segment Income (loss) from operations measure when making decisions about allocating capital and personnel to the segments. The accounting policies of the reportable segments are the same as those described in Note 2 -- Summary of Significant Accounting Policies.
Financial information relating to the Company’s segments is as follows (in thousands):
Three Months Ended June 30, 2025Las ChispasPalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$53,125 $56,067 $46,267 $89,726 $77,929 $— $— $323,114 
Silver sales49,525 58,072 48,710 40 1,189 — — 157,536 
Metal sales102,650 114,139 94,977 89,766 79,118 — — 480,650 
Costs and Expenses
Costs applicable to sales(1)
57,747 48,703 47,928 46,083 28,993 — — 229,454 
Amortization22,375 9,406 16,748 10,221 1,549 928 194 61,421 
Exploration3,262 4,014 1,224 1,535 3,479 9,228 514 23,256 
Other operating expenses(2)
925 2,989 2,651 622 1,118 2,929 15,177 26,411 
Costs and expenses84,309 65,112 68,551 58,461 35,139 13,085 15,885 340,542 
Income (loss) from operations18,341 49,027 26,426 31,305 43,979 (13,085)(15,885)140,108 
Other income (expense)
Fair value adjustments, net— — 4 — — — — 4 
Interest expense, net16 (84)(2,615)(80)(19)— (5,469)(8,251)
Other, net(3)
804 (1,264)(152)(176)(29)(84)2,361 1,460 
Income (loss) before income and mining taxes19,161 47,679 23,663 31,049 43,931 (13,169)(18,993)133,321 
Income and mining tax (expense) benefit(35,206)(9,415)(3,821)(2,397)(9,341)— (2,415)(62,595)
Net Income (loss) $(16,045)$38,264 $19,842 $28,652 $34,590 $(13,169)$(21,408)$70,726 
Segment assets(4)
$1,725,990 $308,483 $1,253,548 $246,478 $124,995 $221,675 $58,061 $3,939,230 
Capital expenditures$9,200 $5,643 $24,466 $16,318 $3,591 $1,528 $61 $60,807 

(1) Excludes amortization.
(2) Other operating expenses include General and administrative and Pre-development, reclamation, and other
(3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
(4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, mineral interests, and goodwill.
Three Months Ended June 30, 2024PalmarejoRochesterKensingtonWharfSilvertipOtherTotal
Revenue
Gold sales$42,411 $17,368 $51,104 $43,202 $— $— $154,085 
Silver sales40,835 25,396 (50)1,760 — — 67,941 
Metal sales83,246 42,764 51,054 44,962 — — 222,026 
Costs and Expenses
Costs applicable to sales(1)
48,227 36,655 40,721 19,114 — — 144,717 
Amortization10,843 8,570 6,445 1,067 790 213 27,928 
Exploration2,578 977 1,291 1,126 6,445 457 12,874 
Other operating expenses(2)
2,446 2,826 1,129 1,144 2,404 9,882 19,831 
Costs and expenses64,094 49,028 49,586 22,451 9,639 10,552 205,350 
Income (loss) from operations19,152 (6,264)1,468 22,511 (9,639)(10,552)16,676 
Other income (expense)
Gain on debt extinguishment— — — — — (21)(21)
Fair value adjustments, net— — — — — — — 
Interest expense, net397 (1,055)(499)(125)(4)(11,876)(13,162)
Other, net(3)
2,881 (146)(82)(45)18 2,496 5,122 
Income (loss) before income and mining taxes22,430 (7,465)887 22,341 (9,625)(19,953)8,615 
Income and mining tax (expense) benefit(7,311)672 — (1,872)— 1,322 (7,189)
Net Income (loss)$15,119 $(6,793)$887 $20,469 $(9,625)$(18,631)$1,426 
Segment assets(4)
$302,034 $1,125,586 $196,671 $108,268 $213,833 $51,885 $1,998,277 
Capital expenditures$5,871 $27,530 $16,477 $1,156 $350 $21 $51,405 

(1) Excludes amortization.
(2) Other operating expenses include General and administrative and Pre-development, reclamation, and other
(3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
(4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, mineral interests, and goodwill.

Six Months Ended June 30, 2025Las ChispasPalmarejoRochesterKensingtonWharfSilvertip OtherTotal
Revenue
Gold sales$81,007 $99,762 $88,050 $154,933 $134,689 $— $— $558,441 
Silver sales79,662 110,183 89,553 76 2,797 — — 282,271 
Metal sales160,669 209,945 177,603 155,009 137,486 — — 840,712 
Costs and Expenses
Costs applicable to sales(1)
100,581 92,406 96,464 88,239 56,030 — — 433,720 
Amortization31,311 18,587 31,655 17,692 3,023 1,874 372 104,514 
Exploration5,140 7,874 2,691 4,836 6,108 15,335 954 42,938 
Other operating expenses(2)
992 4,618 5,405 1,192 2,306 6,007 36,756 57,276 
Costs and expenses138,024 123,485 136,215 111,959 67,467 23,216 38,082 638,448 
Income (loss) from operations22,645 86,460 41,388 43,050 70,019 (23,216)(38,082)202,264 
Other income (expense)
Fair value adjustments, net— — (342)— — — — (342)
Interest expense, net(1)(69)(4,873)(257)(117)— (13,384)(18,701)
Other, net(3)
1,232 (1,952)(240)(261)(72)13 3,146 1,866 
Income (loss) before income and mining taxes23,876 84,439 35,933 42,532 69,830 (23,203)(48,320)185,087 
Income and mining tax (expense) benefit(37,058)(20,514)(4,434)(2,885)(11,863)— (4,254)(81,008)
Net Income (loss) $(13,182)$63,925 $31,499 $39,647 $57,967 $(23,203)$(52,574)$104,079 
Segment assets(4)
$1,725,990 $308,483 $1,253,548 $246,478 $124,995 $221,675 $58,061 $3,939,230 
Capital expenditures$14,538 $11,500 $39,319 $31,791 $10,955 $2,382 $324 $110,809 
(1) Excludes amortization.
(2) Other operating expenses include General and administrative and Pre-development, reclamation, and other
(3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
(4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, mineral interests, and goodwill.
Six Months Ended June 30, 2024PalmarejoRochesterKensingtonWharfSilvertipOtherTotal
Revenue
Gold sales$96,313 $30,049 $94,589 $84,903 $— $— $305,854 
Silver sales83,311 42,544 (16)3,393 — — 129,232 
Metal sales179,624 72,593 94,573 88,296 — — 435,086 
Costs and Expenses
Costs applicable to sales(1)
102,521 63,654 80,010 44,529 — — 290,714 
Amortization23,445 15,203 12,041 2,460 1,642 434 55,225 
Exploration5,063 1,408 2,836 1,249 11,725 1,084 23,365 
Other operating expenses(2)
4,700 8,576 8,755 2,245 5,109 23,078 52,463 
Costs and expenses135,729 88,841 103,642 50,483 18,476 24,596 421,767 
Income (loss) from operations43,895 (16,248)(9,069)37,813 (18,476)(24,596)13,319 
Other income (expense)
Gain on debt extinguishment— — — — — 417 417 
Fair value adjustments, net— — — — — — — 
Interest expense, net371 (2,395)(970)(277)(10)(22,828)(26,109)
Other, net(3)
3,427 (116)(163)(87)(40)4,874 7,895 
Income (loss) before income and mining taxes47,693 (18,759)(10,202)37,449 (18,526)(42,133)(4,478)
Income and mining tax (expense) benefit(18,994)906 — (3,008)— (2,117)(23,213)
Net Income (loss)$28,699 $(17,853)$(10,202)$34,441 $(18,526)$(44,250)$(27,691)
Segment assets(4)
$302,034 $1,125,586 $196,671 $108,268 $213,833 $51,885 $1,998,277 
Capital expenditures$12,632 $48,773 $29,735 $1,464 $859 $25 $93,488 
(1) Excludes amortization.
(2) Other operating expenses includes General and administrative and Pre-development, reclamation, and other
(3) See Note 14 -- Additional Comprehensive Income (Loss) Detail for additional detail.
(4) Segment assets include receivables, prepaids, inventories, property, plant and equipment, mineral interests, and goodwill.

Assets June 30, 2025December 31, 2024
Total assets for reportable segments$3,939,230 $2,161,881 
Cash and cash equivalents111,646 55,087 
Other assets100,074 84,779 
Total consolidated assets$4,150,950 $2,301,747 
Geographic Information
Long-Lived Assets June 30, 2025December 31, 2024
United States$1,327,020 $1,312,976 
Mexico1,842,870 267,144 
Canada237,919 237,263 
Other233 233 
Total$3,408,042 $1,817,616 
RevenueThree months ended June 30,Six months ended June 30,
2025202420252024
United States$263,861 $138,780 $470,098 $255,462 
Mexico216,789 83,246 370,614 179,624 
Total$480,650 $222,026 $840,712 $435,086