Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Fair Value Adjustments to Comprehensive income (Loss)


	Three Months Ended March 31,
In thousands		2024		2023
Change in the value of equity securities(1)		$	—	$	10,561


Fair value adjustments, net		$	—	$	10,561

(1) Includes unrealized losses on held equity securities of $2.8 million for the three months ended March 31, 2023.

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 March 31, 2024
In thousands	Total		Level 1		Level 2		Level 3
Assets:

Provisional metal sales contracts	$	809	$	—	$	809	$	—

Silver forwards	1,847		—		1,847		—
	$	2,656	$	—	$	2,656	$	—
Liabilities:
Gold forwards	$	7,994	$	—	$	7,994	$	—


	Fair Value at December 31, 2023
In thousands	Total		Level 1		Level 2		Level 3
Assets:
Provisional metal sales contracts	318		—		318		—
Silver forwards	3,312		—		3,312		—
	$	3,630	$	—	$	3,630	$	—
Liabilities:
Gold forwards	$	1,981	$	—	$	1,981	$	—

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 March 31, 2024 and December 31, 2023 is presented in the following table:


	March 31, 2024
In thousands	Book Value		Fair Value		Level 1		Level 2		Level 3


Liabilities:
2029 Senior Notes(1)	$	289,508	$	274,638	$	—	$	274,638	$	—
Revolving Credit Facility(2)	$	225,000	$	225,000	$	—	$	225,000	$	—

(1) Net of unamortized debt issuance costs of $3.6 million.

(2) Unamortized debt issuance costs of $4.4 million included in Other Non-Current Assets.


	December 31, 2023
In thousands	Book Value		Fair Value		Level 1		Level 2		Level 3
Liabilities:
2029 Senior Notes(1)	$	295,115	$	271,272	$	—	$	271,272	$	—
Revolving Credit Facility(2)	$	175,000	$	175,000	$	—	$	175,000	$	—

(1) Net of unamortized debt issuance costs of $3.9 million.

(2) Unamortized debt issuance costs of $2.8 million included in Other Non-Current Assets.