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Statements of Changes Shareholders' Equity (Deficit)
$ in Thousands
USD ($)
Shareholders’ equity (deficit) – beginning of period (a) at Dec. 31, 2012 $ (1,575,959) [1]
Contributions for Shares issued 2,096,484
Distributions for Shares redeemed (2,031,644)
Net realized loss from silver bullion distributed for the redemption of Shares (131,814)
Net loss (b) (1,954,788) [2]
Adjustment of redeemable capital Shares to redemption value 3,530,747
Shareholders’ equity (deficit) – end of period (Scenario After Application of ASU 2013-08 [Member]) at Dec. 31, 2013 6,240,747 [1]
Contributions for Shares issued | Scenario After Application of ASU 2013-08 [Member] 1,361,917
Contributions for Shares issued 1,361,917
Distributions for Shares redeemed | Scenario After Application of ASU 2013-08 [Member] (1,108,223)
Distributions for Shares redeemed (1,108,223)
Net investment loss | Scenario After Application of ASU 2013-08 [Member] (31,579)
Net investment loss (31,579) [3],[4]
Net realized loss from silver bullion sold to pay expenses | Scenario After Application of ASU 2013-08 [Member] (1,056)
Net realized loss from silver bullion sold to pay expenses (1,056) [3]
Net realized loss from silver bullion distributed for the redemption of Shares | Scenario After Application of ASU 2013-08 [Member] (77,394)
Net realized loss from silver bullion distributed for the redemption of Shares (77,394) [3]
Net change in unrealized appreciation/depreciation on investment in silver bullion | Scenario After Application of ASU 2013-08 [Member] (1,123,610)
Net change in unrealized appreciation/depreciation on investment in silver bullion (1,123,610) [3]
Net loss (b) (1,233,639) [3]
Adjustment of redeemable capital Shares to redemption value 253,694
Shareholders’ equity (deficit) – end of period (Scenario After Application of ASU 2013-08 [Member]) at Dec. 31, 2014 5,260,802 [1],[5]
Shareholders’ equity (deficit) – end of period at Dec. 31, 2014 5,260,802 [5]
Contributions for Shares issued | Scenario After Application of ASU 2013-08 [Member] 859,468
Contributions for Shares issued 859,468
Distributions for Shares redeemed | Scenario After Application of ASU 2013-08 [Member] (1,029,094)
Distributions for Shares redeemed (1,029,094)
Net investment loss | Scenario After Application of ASU 2013-08 [Member] (25,295)
Net investment loss (25,295) [3],[4]
Net realized loss from silver bullion sold to pay expenses | Scenario After Application of ASU 2013-08 [Member] (5,703)
Net realized loss from silver bullion sold to pay expenses (5,703) [3]
Net realized loss from silver bullion distributed for the redemption of Shares | Scenario After Application of ASU 2013-08 [Member] (206,453)
Net realized loss from silver bullion distributed for the redemption of Shares (206,453) [3]
Net change in unrealized appreciation/depreciation on investment in silver bullion | Scenario After Application of ASU 2013-08 [Member] (461,781)
Net change in unrealized appreciation/depreciation on investment in silver bullion (461,781) [3]
Net loss (b) (699,232) [3]
Adjustment of redeemable capital Shares to redemption value (169,626)
Shareholders’ equity (deficit) – end of period (Scenario After Application of ASU 2013-08 [Member]) at Dec. 31, 2015 4,391,944 [5]
Shareholders’ equity (deficit) – end of period at Dec. 31, 2015 $ 4,391,944 [5]
[1] The Trust reclassified redeemable capital shares as of December 31, 2013 into shareholders' equity as part of it's transition to investment companyaccounting effective January 1, 2014. Please refer to Note 2B.
[2] The components of net loss for the years ended December 31, 2015 and 2014 are reflected in the other captions disclosed within this statement.
[3] Effective January 1, 2014, the Trust qualified as an investment company for accounting purposes. Please refer to Note 2B.
[4] Net investment income (loss) is applicable to investment companies. Please refer to Note 2B.
[5] Represents net asset value. Please refer to Note 2D.