| 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 June 30, 2022 and June 30, 2021, aggregated by each fair value hierarchy level:
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in thousands |
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June 30, 2022 |
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Quoted |
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Price in |
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Active Markets |
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Significant Other |
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Significant |
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for Identical |
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Observable |
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Unobservable |
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Instruments |
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Inputs |
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Inputs |
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(Level 1) |
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(Level 2) |
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(Level 3) |
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Total |
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Assets: |
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Inventories(1) |
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$ |
739,584 |
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$ |
— |
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$ |
— |
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$ |
739,584 |
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Precious metals held under financing arrangements |
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79,766 |
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— |
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— |
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79,766 |
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Derivative assets — open sale and purchase commitments, net |
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27,423 |
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— |
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— |
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27,423 |
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Derivative assets — futures contracts |
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20,245 |
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— |
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— |
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20,245 |
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Derivative assets — forward contracts |
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44,075 |
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— |
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— |
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44,075 |
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Option to purchase interest in a long-term investment |
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— |
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— |
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5,300 |
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5,300 |
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Total assets, valued at fair value |
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$ |
911,093 |
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$ |
— |
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$ |
5,300 |
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$ |
916,393 |
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Liabilities: |
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Liabilities on borrowed metals |
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$ |
59,417 |
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$ |
— |
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$ |
— |
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$ |
59,417 |
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Product financing arrangements |
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282,671 |
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— |
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— |
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282,671 |
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Derivative liabilities — open sale and purchase commitments, net |
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70,564 |
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— |
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— |
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70,564 |
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Derivative liabilities — margin accounts |
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4,686 |
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— |
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— |
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4,686 |
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Derivative liabilities — forward contracts |
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530 |
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— |
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— |
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530 |
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Total liabilities, valued at fair value |
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$ |
417,868 |
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$ |
— |
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$ |
— |
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$ |
417,868 |
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(1)
Commemorative coin inventory totaling $1,434 thousand is held at lower of cost or realizable value, and thus is excluded from the inventories balance shown in this table.
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in thousands |
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June 30, 2021 |
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Quoted |
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Price in |
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Active Markets |
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Significant Other |
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Significant |
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for Identical |
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Observable |
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Unobservable |
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Instruments |
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Inputs |
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Inputs |
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(Level 1) |
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(Level 2) |
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(Level 3) |
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Total |
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Assets: |
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Inventories(1) |
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$ |
457,613 |
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$ |
— |
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$ |
— |
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$ |
457,613 |
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Precious metals held under financing arrangements |
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154,742 |
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— |
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— |
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154,742 |
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Derivative assets — open sale and purchase commitments, net |
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38,340 |
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— |
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— |
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38,340 |
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Derivative assets — futures contracts |
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4,510 |
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— |
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— |
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4,510 |
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Derivative assets — forward contracts |
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1,686 |
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— |
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— |
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1,686 |
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Total assets, valued at fair value |
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$ |
656,891 |
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$ |
— |
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$ |
— |
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$ |
656,891 |
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Liabilities: |
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Liabilities on borrowed metals |
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$ |
91,866 |
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$ |
— |
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$ |
— |
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$ |
91,866 |
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Product financing arrangements |
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|
201,028 |
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— |
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— |
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201,028 |
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Derivative liabilities — open sale and purchase commitments, net |
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|
243 |
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— |
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— |
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|
243 |
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Derivative liabilities — margin accounts |
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|
2,806 |
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— |
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— |
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2,806 |
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Derivative liabilities — futures contracts |
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|
465 |
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— |
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— |
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|
465 |
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Derivative liabilities — forward contracts |
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|
4,025 |
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— |
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— |
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|
4,025 |
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Total liabilities, valued at fair value |
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$ |
300,433 |
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|
$ |
— |
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$ |
— |
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$ |
300,433 |
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(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.
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