| Schedule of Information About Reportable Segments |
The tables below present information about our reportable segments for the three months ended March 31, 2026 and 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended March 31, 2026 |
Greens Creek |
|
Lucky Friday |
|
Keno Hill |
|
Total Reportable Segments |
|
Other |
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Metal sales |
$ |
250,999 |
|
$ |
109,356 |
|
$ |
46,426 |
|
$ |
406,781 |
|
$ |
— |
|
$ |
406,781 |
|
Environmental remediation services |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
4,652 |
|
|
4,652 |
|
Intersegment sales |
|
— |
|
|
— |
|
|
1,639 |
|
|
1,639 |
|
|
— |
|
|
1,639 |
|
Reconciliation of sales |
|
250,999 |
|
|
109,356 |
|
|
48,065 |
|
|
408,420 |
|
|
4,652 |
|
|
413,072 |
|
Elimination of intersegment sales |
|
— |
|
|
— |
|
|
(1,639 |
) |
|
(1,639 |
) |
|
— |
|
|
(1,639 |
) |
Total consolidated sales |
|
|
|
|
|
|
|
|
|
|
|
411,433 |
|
Salaries, wages and other benefits |
|
20,582 |
|
|
20,523 |
|
|
8,897 |
|
|
50,002 |
|
|
178 |
|
|
50,180 |
|
Contractors |
|
2,705 |
|
|
3,956 |
|
|
2,251 |
|
|
8,912 |
|
|
4,640 |
|
|
13,552 |
|
Materials and consumables |
|
27,595 |
|
|
10,445 |
|
|
7,273 |
|
|
45,313 |
|
|
94 |
|
|
45,407 |
|
Product inventory change |
|
5,383 |
|
|
(293 |
) |
|
(3,218 |
) |
|
1,872 |
|
|
— |
|
|
1,872 |
|
Other direct production costs |
|
10,110 |
|
|
542 |
|
|
2,720 |
|
|
13,372 |
|
|
27 |
|
|
13,399 |
|
Depreciation, depletion and amortization |
|
15,983 |
|
|
13,609 |
|
|
4,176 |
|
|
33,768 |
|
|
— |
|
|
33,768 |
|
Gross profit (loss) |
$ |
168,641 |
|
$ |
60,574 |
|
$ |
24,327 |
|
$ |
253,542 |
|
$ |
(287 |
) |
$ |
253,255 |
|
Other operating expenses (a) |
|
|
|
|
|
|
|
|
|
|
|
30,148 |
|
Income from operations |
|
|
|
|
|
|
|
|
|
|
|
223,107 |
|
Other Expense: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
(5,656 |
) |
Fair value adjustments, net |
|
|
|
|
|
|
|
|
|
|
|
(5,945 |
) |
Foreign exchange gain, net |
|
|
|
|
|
|
|
|
|
|
|
498 |
|
Other income |
|
|
|
|
|
|
|
|
|
|
|
3,549 |
|
Income before income and mining taxes |
|
|
|
|
|
|
|
|
|
|
$ |
215,553 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital additions |
$ |
6,113 |
|
$ |
17,018 |
|
$ |
15,025 |
|
$ |
38,156 |
|
$ |
1,109 |
|
$ |
39,265 |
|
(a) Other operating expense items include general and administrative, exploration and pre-development, care and maintenance, provision for closed operations and environmental matters, and other operating (income) expense, net.
|
|
|
|
|
|
|
Three months ended March 31, 2025 |
Greens Creek |
Lucky Friday |
Keno Hill |
Total Reportable Segments |
Other |
Total |
|
|
|
|
|
|
|
Metal sales |
$118,143 |
$63,194 |
$16,909 |
$198,246 |
$— |
$198,246 |
Environmental remediation services |
— |
— |
— |
— |
7,088 |
7,088 |
Intersegment sales |
— |
— |
986 |
986 |
— |
986 |
Reconciliation of sales |
118,143 |
63,194 |
17,895 |
199,232 |
7,088 |
206,320 |
Elimination of intersegment sales |
— |
— |
(986) |
(986) |
— |
(986) |
Total consolidated sales |
|
|
|
|
|
205,334 |
Salaries, wages and employee benefits |
18,253 |
14,776 |
6,472 |
39,501 |
58 |
39,559 |
Contractors |
905 |
3,863 |
3,551 |
8,319 |
6,931 |
15,250 |
Materials and consumables |
25,665 |
11,423 |
5,994 |
43,082 |
106 |
43,188 |
Product inventory change |
901 |
1,182 |
(7,962) |
(5,879) |
— |
(5,879) |
Other direct production costs |
10,325 |
(620) |
5,014 |
14,719 |
— |
14,719 |
Depreciation, depletion and amortization |
13,589 |
13,425 |
2,802 |
29,816 |
— |
29,816 |
Gross profit |
$48,505 |
$19,145 |
$1,038 |
$68,688 |
$(7) |
$68,681 |
Other operating expenses (a) |
|
|
|
|
|
21,276 |
Income from operations |
|
|
|
|
|
47,405 |
|
|
|
|
|
|
|
Other Expense: |
|
|
|
|
|
|
Interest expense |
|
|
|
|
|
(11,392) |
Fair value adjustments, net |
|
|
|
|
|
3,388 |
Foreign exchange loss, net |
|
|
|
|
|
(367) |
Other income |
|
|
|
|
|
942 |
Income before income and mining taxes |
|
|
|
|
|
$39,976 |
|
|
|
|
|
|
|
Capital additions |
$10,759 |
$15,446 |
$10,436 |
$36,641 |
$1,197 |
$37,838 |
(a) Other operating expense items include general and administrative, exploration and pre-development, care and maintenance, provision for closed operations and environmental matters, and other operating (income) expense, net. The following table presents total assets by reportable segment as of March 31, 2026 and December 31, 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Total assets: |
|
|
|
|
|
|
Greens Creek |
|
$ |
707,216 |
|
|
$ |
640,011 |
|
Lucky Friday |
|
|
681,365 |
|
|
|
688,997 |
|
Keno Hill |
|
|
492,688 |
|
|
|
505,205 |
|
Other |
|
|
1,495,024 |
|
|
|
974,703 |
|
Total assets of reportable segments |
|
|
3,376,293 |
|
|
|
2,808,916 |
|
Assets of discontinued operations |
|
|
— |
|
|
|
751,729 |
|
Total assets |
|
|
3,376,293 |
|
|
|
3,560,645 |
|
|
The tables below present information about our reportable segments as of and for the years ended December 31, 2025, 2024 and 2023 (in thousands).
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, 2025 |
Greens Creek |
|
Lucky Friday |
|
Keno Hill |
|
Total Reportable Segments |
|
Other |
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Metal sales |
$ |
612,827 |
|
$ |
306,640 |
|
$ |
145,317 |
|
$ |
1,064,784 |
|
$ |
— |
|
$ |
1,064,784 |
|
Environmental remediation services |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
39,118 |
|
|
39,118 |
|
Intersegment sales |
|
— |
|
|
— |
|
|
6,123 |
|
$ |
6,123 |
|
|
— |
|
|
6,123 |
|
Reconciliation of sales |
|
612,827 |
|
|
306,640 |
|
|
151,440 |
|
|
1,070,907 |
|
|
39,118 |
|
|
1,110,025 |
|
Elimination of intersegment sales |
|
|
|
|
|
(6,123 |
) |
|
(6,123 |
) |
|
|
|
(6,123 |
) |
Total consolidated sales |
|
|
|
|
|
|
|
|
|
|
|
1,103,902 |
|
Salaries, wages and other benefits |
|
75,888 |
|
|
63,134 |
|
|
28,459 |
|
|
167,481 |
|
|
598 |
|
|
168,079 |
|
Contractors |
|
7,425 |
|
|
15,628 |
|
|
14,746 |
|
|
37,799 |
|
|
37,295 |
|
|
75,094 |
|
Materials and consumables |
|
106,959 |
|
|
44,817 |
|
|
27,300 |
|
|
179,076 |
|
|
679 |
|
|
179,755 |
|
Product inventory change |
|
1,258 |
|
|
346 |
|
|
(1,452 |
) |
|
152 |
|
|
— |
|
|
152 |
|
Other direct production costs |
|
42,691 |
|
|
(1,290 |
) |
|
2,830 |
|
|
44,231 |
|
|
2 |
|
|
44,233 |
|
Depreciation, depletion and amortization |
|
55,960 |
|
|
51,055 |
|
|
19,769 |
|
|
126,784 |
|
|
— |
|
|
126,784 |
|
Gross profit |
$ |
322,646 |
|
$ |
132,950 |
|
$ |
53,665 |
|
$ |
509,261 |
|
$ |
544 |
|
$ |
509,805 |
|
Other operating expenses (a) |
|
|
|
|
|
|
|
|
|
|
|
113,396 |
|
Income from operations |
|
|
|
|
|
|
|
|
|
|
|
396,409 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Expense: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
(40,991 |
) |
Fair value adjustments, net |
|
|
|
|
|
|
|
|
|
|
|
8,332 |
|
Foreign exchange gain, net |
|
|
|
|
|
|
|
|
|
|
|
(6,019 |
) |
Other income |
|
|
|
|
|
|
|
|
|
|
|
(930 |
) |
Income before income and mining taxes |
|
|
|
|
|
|
|
|
|
|
$ |
356,801 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital additions |
$ |
54,617 |
|
$ |
72,933 |
|
$ |
58,192 |
|
$ |
185,742 |
|
$ |
5,133 |
|
$ |
190,875 |
|
Identifiable assets |
|
640,011 |
|
|
688,997 |
|
|
505,205 |
|
|
1,834,213 |
|
|
974,703 |
|
|
2,808,916 |
|
(a) Other operating expense items include general and administrative, exploration and pre-development, care and maintenance costs, provision for closed operations and environmental matters, write-down of property, plant and equipment and other operating (income) expense, net.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, 2024 |
Greens Creek |
|
Lucky Friday |
|
Keno Hill |
|
Total Reportable Segments |
|
Other |
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Metal sales |
$ |
421,574 |
|
$ |
203,154 |
|
$ |
74,962 |
|
$ |
699,690 |
|
$ |
— |
|
$ |
699,690 |
|
Environmental remediation services |
|
— |
|
|
— |
|
|
— |
|
$ |
— |
|
|
20,556 |
|
|
20,556 |
|
Intersegment sales |
|
— |
|
|
— |
|
|
3,834 |
|
$ |
3,834 |
|
|
— |
|
|
3,834 |
|
Reconciliation of sales |
|
421,574 |
|
|
203,154 |
|
|
78,796 |
|
|
703,524 |
|
|
20,556 |
|
|
724,080 |
|
Elimination of intersegment sales |
|
— |
|
|
— |
|
|
(3,834 |
) |
|
(3,834 |
) |
|
— |
|
|
(3,834 |
) |
Total consolidated sales |
|
|
|
|
|
|
|
|
|
|
|
720,246 |
|
Salaries, wages and other benefits |
|
69,990 |
|
|
52,879 |
|
|
29,658 |
|
$ |
152,527 |
|
|
206 |
|
|
152,733 |
|
Contractors |
|
6,135 |
|
|
14,154 |
|
|
22,960 |
|
$ |
43,249 |
|
|
19,696 |
|
|
62,945 |
|
Materials and consumables |
|
93,223 |
|
|
39,957 |
|
|
28,648 |
|
$ |
161,828 |
|
|
625 |
|
|
162,453 |
|
Product inventory change |
|
5,858 |
|
|
(2,628 |
) |
|
(8,902 |
) |
$ |
(5,672 |
) |
|
— |
|
|
(5,672 |
) |
Other direct production costs |
|
39,471 |
|
|
657 |
|
|
8,972 |
|
$ |
49,100 |
|
|
— |
|
|
49,100 |
|
Depreciation, depletion and amortization (a) |
|
53,450 |
|
|
41,673 |
|
|
20,380 |
|
$ |
115,503 |
|
|
— |
|
|
115,503 |
|
Gross profit/(loss)(a) |
$ |
153,447 |
|
$ |
56,462 |
|
$ |
(26,754 |
) |
$ |
183,155 |
|
$ |
29 |
|
$ |
183,184 |
|
Other operating expenses (b) |
|
|
|
|
|
|
|
|
|
|
|
59,422 |
|
Income from operations |
|
|
|
|
|
|
|
|
|
|
|
123,762 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Expense: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
(49,331 |
) |
Fair value adjustments, net |
|
|
|
|
|
|
|
|
|
|
|
3,541 |
|
Foreign exchange gain, net |
|
|
|
|
|
|
|
|
|
|
|
8,063 |
|
Other income |
|
|
|
|
|
|
|
|
|
|
|
4,169 |
|
Income before income and mining taxes |
|
|
|
|
|
|
|
|
|
|
$ |
90,204 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital additions |
$ |
47,795 |
|
$ |
49,592 |
|
$ |
54,869 |
|
$ |
152,256 |
|
$ |
1,532 |
|
$ |
153,788 |
|
Identifiable assets |
|
564,334 |
|
|
587,945 |
|
|
413,982 |
|
|
1,566,261 |
|
|
737,523 |
|
|
2,303,784 |
|
(a) Previously reported transfers to ramp-up and suspension costs which were included as part of other operating expenses of $2,207 for Lucky Friday and $26,754 for Keno Hill have been included in the significant segment expenses and depreciation, depletion and amortization above, and the resultant calculation of gross profit/(loss). (b) Other operating expense items include general and administrative, exploration and pre-development, care and maintenance costs, provision for closed operations and environmental matters, write-down of property, plant and equipment and other operating (income) expense, net.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, 2023 |
Greens Creek |
|
Lucky Friday |
|
Keno Hill |
|
Total Reportable Segments |
|
Other |
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Metal sales |
$ |
384,504 |
|
$ |
116,284 |
|
$ |
35,518 |
|
$ |
536,306 |
|
$ |
960 |
|
$ |
537,266 |
|
Environmental remediation services |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
5,283 |
|
|
5,283 |
|
Intersegment sales |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Reconciliation of sales |
|
384,504 |
|
|
116,284 |
|
|
35,518 |
|
|
536,306 |
|
|
6,243 |
|
|
542,549 |
|
Elimination of intersegment sales |
|
|
|
|
|
|
|
|
|
|
|
— |
|
Total consolidated sales |
|
|
|
|
|
|
|
|
|
|
|
542,549 |
|
Salaries, wages and employee benefits |
|
68,183 |
|
|
43,142 |
|
|
21,569 |
|
$ |
132,894 |
|
|
3,029 |
|
|
135,923 |
|
Contractors |
|
5,917 |
|
|
8,681 |
|
|
10,472 |
|
$ |
25,070 |
|
|
1,125 |
|
|
26,195 |
|
Materials and consumables |
|
89,850 |
|
|
27,030 |
|
|
18,018 |
|
$ |
134,898 |
|
|
1,606 |
|
|
136,504 |
|
Product inventory change |
|
4,266 |
|
|
8,014 |
|
|
(1,163 |
) |
$ |
11,117 |
|
|
269 |
|
|
11,386 |
|
Other direct production costs |
|
37,684 |
|
|
(6,519 |
) |
|
10,187 |
|
$ |
41,352 |
|
|
171 |
|
|
41,523 |
|
Depreciation, depletion and amortization (a) |
|
53,995 |
|
|
29,384 |
|
|
6,228 |
|
$ |
89,607 |
|
|
140 |
|
|
89,747 |
|
Gross profit (loss) (a) |
$ |
124,609 |
|
$ |
6,552 |
|
$ |
(29,793 |
) |
$ |
101,368 |
|
$ |
(97 |
) |
$ |
101,271 |
|
Other operating expenses (b) |
|
|
|
|
|
|
|
|
|
|
|
89,262 |
|
Income from operations |
|
|
|
|
|
|
|
|
|
|
|
12,009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Expense: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
(43,065 |
) |
Fair value adjustments, net |
|
|
|
|
|
|
|
|
|
|
|
1,735 |
|
Foreign exchange loss, net |
|
|
|
|
|
|
|
|
|
|
|
(4,145 |
) |
Other income |
|
|
|
|
|
|
|
|
|
|
|
5,465 |
|
Loss before income and mining taxes |
|
|
|
|
|
|
|
|
|
|
$ |
(28,001 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital additions |
$ |
43,542 |
|
$ |
65,337 |
|
$ |
44,672 |
|
$ |
153,551 |
|
$ |
280 |
|
$ |
153,831 |
|
Identifiable assets |
|
569,369 |
|
|
578,110 |
|
|
362,986 |
|
|
1,510,465 |
|
|
820,841 |
|
|
2,331,306 |
|
(a) Previously reported transfers to ramp-up and suspension costs which were reported as part of other operating expenses of $25,548 for Lucky Friday and $29,793 for Keno Hill have been included in the significant segment expenses and depreciation, depletion and amortization above, and the resultant calculation of gross profit/(loss). (b) Other operating expense items include general and administrative, exploration and pre-development, care and maintenance costs, provision for closed operations and environmental matters, write-down of property, plant and equipment and other operating (income) expense, net.
|