v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company’s operating segments include the Rochester, Kensington, Wharf, New Afton, Rainy River, Las Chispas and Palmarejo 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, silver and/or copper. The Silvertip exploration project is engaged in the discovery of silver, zinc, lead, and other 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, Executive Vice President and Chief Financial Officer, and Michael Routledge, Executive Vice President and Chief Operating Officer, evaluates performance and allocates resources for all of the Company’s reportable segments based on Income from operations. The CODM uses segment Income 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 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 March 31, 2026
Segment Profit (Loss)Revenue
Costs applicable to sales(1)
AmortizationExplorationGeneral and AdministrativePre-development, reclamation, and otherIncome (loss) from operations
Other non-operating income (expense)(2)
Income (loss) before income and
mining taxes
New Afton$37,815 $36,239 $14,214 $288 $(57)$896 $(13,765)$953 $(12,812)
Rainy River96,419 92,444 16,689 437 107 2,085 (15,343)2,593 (12,750)
Las Chispas193,631 31,458 35,319 3,498 415 213 122,728 4,357 127,085 
Palmarejo188,260 51,248 6,789 4,609 352 808 124,454 (61)124,393 
Rochester181,404 53,783 16,043 929 387 2,225 108,037 (948)107,089 
Kensington108,796 47,813 8,669 2,473 351 107 49,383 (116)49,267 
Wharf49,867 17,024 893 3,160 316 669 27,805 (74)27,731 
Silvertip— — 956 9,235 — 3,727 (13,918)(177)(14,095)
Other— — 253 1,070 19,791 19,097 (40,211)(6,982)(47,193)
Total$856,192 $330,009 $99,825 $25,699 $21,662 $29,827 $349,170 $(455)$348,715 
(1) Excludes amortization.
(2) Other non-operating expenses include Gain (loss) on debt extinguishment, Fair value adjustments, net, and Other, net. Refer to Notes 8, 12, and 14, respectively. Additionally, Other non-operating expense includes Interest expense, net of capitalized interest, which is primarily incurred at the corporate non-operating segment included in Other.
Other Segment InformationGold SalesSilver SalesCopper SalesRevenue
Segment Assets(1)
Capital Expenditures
New Afton$18,487 $556 $18,772 $37,815 $6,142,244 $— 
Rainy River94,216 2,203 — 96,419 3,861,754 6,418 
Las Chispas72,365 121,266 — 193,631 1,650,275 12,530 
Palmarejo64,478 123,782 — 188,260 309,799 8,508 
Rochester68,240 113,164 — 181,404 1,318,073 22,832 
Kensington108,819 (23)— 108,796 271,746 9,137 
Wharf48,617 1,250 — 49,867 150,276 13,075 
Silvertip— — — — 220,056 1,579 
Other— — — — 80,396 — 
Total$475,222 $362,198 $18,772 $856,192 $14,004,619 $74,079 
(1) Segment assets include receivables, prepaids, inventories, property, plant and equipment, mineral interests, and goodwill.
Three Months Ended March 31, 2025
Segment Profit (Loss)Revenue
Costs applicable to sales(1)
AmortizationExplorationGeneral and AdministrativePre-development, reclamation, and otherIncome (loss) from operations
Other non-operating income (expense)(2)
Income (loss) before income and
mining taxes
Las Chispas$58,019 $42,834 $8,936 $1,878 $10 $57 $4,304 $411 $4,715 
Palmarejo95,806 43,703 9,181 3,860 494 1,135 37,433 (673)36,760 
Rochester82,626 48,536 14,907 1,467 324 2,430 14,962 (2,692)12,270 
Kensington65,243 42,156 7,471 3,301 290 280 11,745 (262)11,483 
Wharf58,368 27,037 1,474 2,629 262 926 26,040 (141)25,899 
Silvertip— — 946 6,107 — 3,078 (10,131)97 (10,034)
Other— — 178 440 12,532 9,047 (22,197)(7,130)(29,327)
Total$360,062 $204,266 $43,093 $19,682 $13,912 $16,953 $62,156 $(10,390)$51,766 
(1) Excludes amortization.
(2) Other non-operating expenses include Gain (loss) on debt extinguishment, Fair value adjustments, net, and Other, net. Refer to Notes 8, 12, and 14, respectively. Additionally, Other non-operating expense includes Interest expense, net of capitalized interest, which is primarily incurred at the corporate non-operating segment included in Other.
Other Segment InformationGold SalesSilver SalesRevenue
Segment Assets(1)
Capital Expenditures
Las Chispas$27,882 $30,137 $58,019 $1,717,053 $5,338 
Palmarejo43,695 52,111 95,806 312,023 5,857 
Rochester41,783 40,843 82,626 1,229,683 14,853 
Kensington65,207 36 65,243 233,190 15,473 
Wharf56,760 1,608 58,368 124,776 7,364 
Silvertip— — — 219,103 854 
Other— — — 62,948 263 
Total$235,327 $124,735 $360,062 $3,898,776 $50,002 
(1) Segment assets include receivables, prepaids, inventories, property, plant and equipment, mineral interests, and goodwill.

Assets March 31, 2026December 31, 2025
Total assets for reportable segments$14,004,619 $3,928,905 
Cash and cash equivalents843,169 553,597 
Other assets413,539 213,180 
Total consolidated assets$15,261,327 $4,695,682 
Geographic Information
Long-Lived Assets March 31, 2026December 31, 2025
United States$1,330,576 $1,315,939 
Mexico1,789,833 1,815,259 
Canada9,841,754 239,265 
Other233 233 
Total$12,962,396 $3,370,696 
RevenueThree months ended March 31,
20262025
United States$340,067 $206,237 
Mexico381,891 153,825 
Canada134,234 — 
Total$856,192 $360,062