Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments, future settlement

At September 30, 2022, the Company had the following derivative instruments that settle as follows:

In thousands except average prices and notional ounces	2022		2023 and Thereafter
Provisional gold sales contracts	$	32,768	$	—
Average gold price per ounce	$	1,744	$	—
Notional ounces	18,789		—

At September 30, 2022, the Company had the following derivative cash flow hedge instruments that settle as follows:

In thousands except average prices and notional ounces	2022		2023 and Thereafter
Gold forwards
Average gold fixed price per ounce	$	1,994	$	1,982
Notional ounces	54,500		112,500

Fair value of the derivative instruments

The following summarizes the classification of the fair value of the derivative instruments:

	September 30, 2022
In thousands	Prepaid expenses and other		Accrued liabilities and other
Provisional metal sales contracts	$	120	$	948

	December 31, 2021
In thousands	Prepaid expenses and other		Accrued liabilities and other
Provisional metal sales contracts	$	86	$	162

The following summarizes the classification of the fair value of the derivative instruments designated as cash flow hedges:

	September 30, 2022
In thousands	Prepaid expenses and other		Other assets		Accrued liabilities and other
Gold forwards	$	41,814	$	5,259	$	—

	December 31, 2021
In thousands	Prepaid expenses and other		Other assets		Accrued liabilities and other
Gold zero cost collars	$	—	$	—	$	1,212

The following table sets forth the pre-tax gains (losses) on derivatives designated as cash flow hedges that have been included in AOCI and the Consolidated Statement of Comprehensive Income (Loss) for the three and nine months ended September 30, 2022 and 2021, respectively (in thousands).

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Amount of Gain (Loss) Recognized in AOCI
Gold forwards	$	29,060	$	—	$	62,685	$	—
Gold zero cost collars	—		1,614		(4,598)		25,590
Foreign currency forward exchange contracts	—		(265)		—		133
	$	29,060	$	1,349	$	58,087	$	25,723
Amount of (Gain) Loss Reclassified From AOCI to Earnings
Gold forwards	$	(11,289)	$	—	$	(14,399)	$	—
Gold zero cost collars	1,379		23		3,218		853
Foreign currency forward exchange contracts	—		(3,925)		—		(10,536)
	$	(9,910)	$	(3,902)	$	(11,181)	$	(9,683)

Gain losses on derivative instruments

The following represent mark-to-market gains (losses) on derivative instruments in the three and nine months ended September 30, 2022 and 2021, respectively (in thousands):

		Three Months Ended September 30,				Nine Months Ended September 30,
Financial statement line	Derivative	2022		2021		2022		2021
Revenue	Provisional metal sales contracts	$	(757)	$	79	$	(751)	$	(618)
Fair value adjustments, net	Exchange agreement embedded derivative	—		9,269		—		9,933
Fair value adjustments, net	Terminated zero cost collars	—		—		(3,139)		—
		$	(757)	$	9,348	$	(3,890)	$	9,315