Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value Adjustments to Comprehensive income (Loss)

	Three Months Ended September 30,				Nine Months Ended September 30,
In thousands	2021		2020		2021		2020
Unrealized gain (loss) on equity securities	$	(35,709)	$	2,276	$	(3,702)	$	12,307
Realized gain (loss) on equity securities	—		(33)		769		(8,816)
Exchange agreement embedded derivative	9,269		—		9,933		—
Fair value adjustments, net	$	(26,440)	$	2,243	$	7,000	$	3,491

Financial assets and liabilities measured at fair value on recurring basis

The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:

	Fair Value at September 30, 2021
In thousands	Total		Level 1		Level 2		Level 3
Assets:
Equity securities	$	139,740	$	139,740	$	—	$	—
Gold zero cost collars	1,560		—		1,560		—
Foreign currency forward exchange contracts	3,344		—		3,344		—
Provisional metal sales contracts	51		—		51		—
	$	144,695	$	139,740	$	4,955	$	—
Liabilities:
Exchange agreement embedded derivative	$	—	$	—	$	—	$	—
Provisional metal sales contracts	255		—		255		—
	$	255	$	—	$	255	$	—

	Fair Value at December 31, 2020
In thousands	Total		Level 1		Level 2		Level 3
Assets:
Equity and debt securities	$	12,943	$	12,943	$	—	$	—
Foreign currency forward exchange contracts	13,747		—		13,747		—
Provisional metal sales contracts	481		—		481		—
	$	27,171	$	12,943	$	14,228	$	—
Liabilities:
Gold zero cost collars	$	24,883	$	—	$	24,883	$	—
Provisional metal sales contracts	67		—		67		—
	$	24,950	$	—	$	24,950	$	—

Changes in the fair value of the Company's Level 3 financial liabilities

The following tables present the changes in the fair value of the Company's Level 3 financial assets and liabilities in the three and nine months ended September 30, 2021.

	Three Months Ended September 30, 2021
In thousands	Balance at the beginning of the period		Initial valuation		Revaluation		Settlements		Balance at the end of the period
Liabilities:
Exchange agreement embedded derivative	$	9,269	$	—	$	(9,269)	$	—	$	—

	Nine Months Ended September 30, 2021
In thousands	Balance at the beginning of the period		Initial valuation		Revaluation		Settlements		Balance at the end of the period
Liabilities:
Exchange agreement embedded derivative	$	—	$	9,933	$	(9,933)	$	—	$	—

Financial Assets and Liabilities not Measured at Fair Value

The fair value of financial assets and liabilities carried at book value in the financial statements at September 30, 2021 and December 31, 2020 is presented in the following table:

	September 30, 2021
In thousands	Book Value		Fair Value		Level 1		Level 2		Level 3
Liabilities:
2029 Senior Notes(1)	$	368,038	$	354,873	$	—	$	354,873	$	—
Revolving Credit Facility(2)	$	20,000	$	20,000	$	—	$	20,000	$	—

(1) Net of unamortized debt issuance costs of $7.0 million

(2) Unamortized debt issuance costs of $2.5 million included in Other Non-Current Assets.

	December 31, 2020
In thousands	Book Value		Fair Value		Level 1		Level 2		Level 3
Liabilities:
2024 Senior Notes(1)	$	227,590	$	229,874	$	—	$	229,874	$	—
Revolving Credit Facility(2)	$	—	$	—	$	—	$	—	$	—

(1) Net of unamortized debt issuance costs of $2.4 million.

(2) Unamortized debt issuance costs of $1.5 million included in Other Non-Current Assets.