| 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, aggregated by each fair value hierarchy level (in thousands):
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June 30, 2023 |
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Quoted Price in Active Markets for Identical Instruments
(Level 1) |
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Significant Other Observable Inputs
(Level 2) |
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Significant Unobservable Inputs
(Level 3) |
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Total |
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Assets: |
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Inventories(1) |
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$ |
980,695 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
980,695 |
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Precious metals held under financing arrangements |
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|
25,530 |
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|
— |
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|
— |
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|
25,530 |
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Derivative assets — open sale and purchase commitments, net |
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|
37,957 |
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|
— |
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|
|
— |
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|
37,957 |
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Derivative assets — futures contracts |
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|
832 |
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|
— |
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|
— |
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|
832 |
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Derivative assets — forward contracts |
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|
39,092 |
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— |
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|
— |
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|
39,092 |
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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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|
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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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$ |
1,084,106 |
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|
$ |
— |
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|
$ |
5,300 |
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|
$ |
1,089,406 |
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Liabilities: |
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Liabilities on borrowed metals |
|
$ |
21,642 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
21,642 |
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Product financing arrangements |
|
|
335,831 |
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|
|
— |
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|
|
— |
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|
|
335,831 |
|
Derivative liabilities — open sale and purchase commitments, net |
|
|
853 |
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|
|
— |
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|
|
— |
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|
|
853 |
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Derivative liabilities — margin accounts |
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|
4,441 |
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|
|
— |
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— |
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|
4,441 |
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Derivative liabilities — future contracts |
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|
1,161 |
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|
— |
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— |
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|
1,161 |
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Derivative liabilities — forward contracts |
|
|
1,621 |
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|
|
— |
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|
|
— |
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|
|
1,621 |
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Total liabilities, valued at fair value |
|
$ |
365,549 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
365,549 |
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(1)
Commemorative coin inventory totaling $0.9 million was held at lower of cost or realizable value, and thus is excluded from the inventories balance shown in this table.
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|
June 30, 2022 |
|
|
|
Quoted Price in Active Markets for Identical Instruments
(Level 1) |
|
|
Significant Other Observable Inputs
(Level 2) |
|
|
Significant Unobservable Inputs
(Level 3) |
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Total |
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Assets: |
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Inventories(1) |
|
$ |
739,584 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
739,584 |
|
Precious metals held under financing arrangements |
|
|
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 |
|
|
27,423 |
|
|
|
— |
|
|
|
— |
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|
|
27,423 |
|
Derivative assets — futures contracts |
|
|
20,245 |
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|
|
— |
|
|
|
— |
|
|
|
20,245 |
|
Derivative assets — forward contracts |
|
|
44,075 |
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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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|
|
— |
|
|
|
5,300 |
|
|
|
5,300 |
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Total assets, valued at fair value |
|
$ |
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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|
|
|
|
|
|
|
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Liabilities on borrowed metals |
|
$ |
59,417 |
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|
$ |
— |
|
|
$ |
— |
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|
$ |
59,417 |
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Product financing arrangements |
|
|
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 |
|
|
70,564 |
|
|
|
— |
|
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|
— |
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|
70,564 |
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Derivative liabilities — margin accounts |
|
|
4,686 |
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|
|
— |
|
|
|
— |
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|
|
4,686 |
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Derivative liabilities — forward contracts |
|
|
530 |
|
|
|
— |
|
|
|
— |
|
|
|
530 |
|
Total liabilities, valued at fair value |
|
$ |
417,868 |
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|
$ |
— |
|
|
$ |
— |
|
|
$ |
417,868 |
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(1)
Commemorative coin inventory totaling $1.4 million was 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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