v3.26.1
Note 10 - Fair Value Measurement (Tables)
3 Months Ended
Mar. 31, 2026
Table Text Block [Abstract]  
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings

Fair value adjustments, net is comprised of the following (in thousands):

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Loss on derivative contracts

 

$

(10,335

)

 

$

(253

)

Gain on sale of equity securities investments

 

 

23,675

 

 

 

 

Unrealized (loss) gain on equity securities investments

 

 

(19,285

)

 

 

3,641

 

Total fair value adjustments, net

 

$

(5,945

)

 

$

3,388

 

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The table below sets forth our assets and liabilities that were accounted for at fair value on a recurring basis and the fair value calculation input hierarchy level that we have determined applies to each asset and liability category (in thousands).

Description

 

Balance at
March 31,
2026

 

 

Balance at
December 31,
2025

 

 

Input
Hierarchy Level

Assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

Money market funds and other bank deposits

 

$

587,550

 

 

$

241,558

 

 

Level 1

Current and non-current investments:

 

 

 

 

 

 

 

 

Equity securities

 

 

178,049

 

 

 

107,486

 

 

Level 1

Trade accounts receivable:

 

 

 

 

 

 

 

 

Receivables from provisional concentrate sales

 

 

215,534

 

 

 

170,230

 

 

Level 2

Restricted cash and cash equivalent balances:

 

 

 

 

 

 

 

 

Certificates of deposit and other deposits

 

 

1,172

 

 

 

1,174

 

 

Level 1

Derivative contracts - current and non-current derivative assets:

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

 

384

 

 

 

1,127

 

 

Level 2

Metal forward contracts

 

 

16,363

 

 

 

15,840

 

 

Level 2

Gold-price contingent asset

 

 

3,254

 

 

 

 

 

Level 2

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

Derivative contracts - current and non-current derivative liabilities:

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

$

1,318

 

 

$

829

 

 

Level 2

Metal forward contracts

 

 

15,230

 

 

 

38,273

 

 

Level 2