Quarterly report pursuant to Section 13 or 15(d)

Assets and Liabilities, at Fair Value (Tables)

v3.21.2
Assets and Liabilities, at Fair Value (Tables)
3 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of Carrying Amounts and Estimated Fair Value of Fixed-Rate Notes Payable The following table presents the carrying amounts and estimated fair values of the Company’s fixed-rate notes payable of September 30, 2021 and June 30, 2021:

 

in thousands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2021

 

 

June 30, 2021

 

 

 

Carrying

Amount

 

 

Fair value

 

 

Carrying

Amount

 

 

Fair value

 

Notes payable

 

$

93,446

 

 

$

100,149

 

 

$

93,249

 

 

$

100,724

 

 

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company's assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and June 30, 2021, aggregated by each fair value hierarchy level:

 

in thousands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2021

 

 

 

Quoted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Price in

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Active Markets

 

 

Significant Other

 

 

Significant

 

 

 

 

 

 

 

for Identical

 

 

Observable

 

 

Unobservable

 

 

 

 

 

 

 

Instruments

 

 

Inputs

 

 

Inputs

 

 

 

 

 

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inventories(1)

 

$

564,996

 

 

$

 

 

$

 

 

$

564,996

 

Precious metals held under financing arrangements

 

 

130,618

 

 

 

 

 

 

 

 

 

130,618

 

Derivative assets — open sale and purchase commitments, net

 

 

15,212

 

 

 

 

 

 

 

 

 

15,212

 

Derivative assets — futures contracts

 

 

23,289

 

 

 

 

 

 

 

 

 

23,289

 

Derivative assets — forward contracts

 

 

31,284

 

 

 

 

 

 

 

 

 

31,284

 

Total assets, valued at fair value

 

$

765,399

 

 

$

 

 

$

 

 

$

765,399

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities on borrowed metals

 

$

74,618

 

 

$

 

 

$

 

 

$

74,618

 

Product financing arrangements

 

 

219,420

 

 

 

 

 

 

 

 

 

219,420

 

Derivative liabilities — open sale and purchase commitments, net

 

 

67,935

 

 

 

 

 

 

 

 

 

67,935

 

Derivative liabilities — margin accounts

 

 

2,162

 

 

 

 

 

 

 

 

 

2,162

 

Derivative liabilities — futures contracts

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities — forward contracts

 

 

251

 

 

 

 

 

 

 

 

 

251

 

Total liabilities, valued at fair value

 

$

364,386

 

 

$

 

 

$

 

 

$

364,386

 

 

(1)

Commemorative coin inventory totaling $709 thousand is held at lower of cost or realizable value, and thus is excluded from the inventories balance shown in this table.

 

in thousands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2021

 

 

 

Quoted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Price in

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Active Markets

 

 

Significant Other

 

 

Significant

 

 

 

 

 

 

 

for Identical

 

 

Observable

 

 

Unobservable

 

 

 

 

 

 

 

Instruments

 

 

Inputs

 

 

Inputs

 

 

 

 

 

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inventories(1)

 

$

457,613

 

 

$

 

 

$

 

 

$

457,613

 

Precious metals held under financing arrangements

 

 

154,742

 

 

 

 

 

 

 

 

 

154,742

 

Derivative assets — open sale and purchase commitments, net

 

 

38,340

 

 

 

 

 

 

 

 

 

38,340

 

Derivative assets — futures contracts

 

 

4,510

 

 

 

 

 

 

 

 

 

4,510

 

Derivative assets — forward contracts

 

 

1,686

 

 

 

 

 

 

 

 

 

1,686

 

Total assets, valued at fair value

 

$

656,891

 

 

$

 

 

$

 

 

$

656,891

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities on borrowed metals

 

$

91,866

 

 

$

 

 

$

 

 

$

91,866

 

Product financing arrangements

 

 

201,028

 

 

 

 

 

 

 

 

 

201,028

 

Derivative liabilities — open sale and purchase commitments, net

 

 

243

 

 

 

 

 

 

 

 

 

243

 

Derivative liabilities — margin accounts

 

 

2,806

 

 

 

 

 

 

 

 

 

2,806

 

Derivative liabilities — futures contracts

 

 

465

 

 

 

 

 

 

 

 

 

465

 

Derivative liabilities — forward contracts

 

 

4,025

 

 

 

 

 

 

 

 

 

4,025

 

Total liabilities, valued at fair value

 

$

300,433

 

 

$

 

 

$

 

 

$

300,433

 

 

(1)

Commemorative coin inventory totaling $406 thousand is held at lower of cost or net realizable value, and thus is excluded from the inventories balance shown in this table.