 Average price for the year ended December 31, 2012 2011 2010 Silver – London PM Fix ($/ounce) $ 31.15 $ 35.11 $ 20.16 – Realized price per ounce $ 32.11 $ 35.30 $ 22.70 Gold – London PM Fix ($/ounce) $ 1,669 $ 1,569 $ 1,225 – Realized price per ounce $ 1,687 $ 1,592 $ 1,271 Lead – LME Final Cash Buyer ($/pound)  $  0.94  $  1.09  $  0.97  – Realized price per pound $ 0.96 $ 1.05 $ 0.98 Zinc – LME Final Cash Buyer ($/pound)  $  0.88  $  1.00  $  0.98  – Realized price per pound $ 0.90 $ 1.00 $ 0.96 Average realized prices differ from average market prices because concentrate sales are generally recorded as revenues at the time of shipment at  forward prices for the estimated month of settlement, which differ from average market prices. Due to the time elapsed between shipment of  concentrates and final settlement with the smelters, we must estimate the prices at which sales of our metals will be settled. Previously recorded sales  are adjusted to estimated settlement metal prices each period through final settlement. For 2012, we recorded net positive adjustments to provisional  settlements of $5.2 million compared to net negative price adjustments to provisional settlements of $9.8 million in 2011 and positive adjustments of  $14.9 million in 2010. The price adjustments related to zinc and lead contained in our concentrate shipments were largely offset by gains and losses on  forward contracts for those metals (see  Note 10  of  Notes to Consolidated Financial Statements  for more information). The gains and losses on these  contracts are included in revenues and impact the realized prices for lead and zinc. We recognized overall net losses on the contracts of $1.3 million in  2012, net gains of $7.1 million in 2011, and net losses of $3.0 million in 2010. Realized prices are calculated by dividing gross revenues for each metal  (which include the price adjustments and gains and losses on the forwards contracts discussed above) by the payable quantities of each metal included  in concentrate and doré shipped during the period.  Other significant variances affecting the comparison of our income applicable to common shareholders for 2012 to results for 2011 and 2010 were as  follows: y Provision for closed operations and environmental matters decreased to $4.7 million in 2012 from $9.7 million in 2011 and $201.1 million in  2010. In the fourth quarter of 2010, we recorded an accrual of $193.2 million to increase our liability for environmental obligations in Idaho’s  Coeur d’Alene Basin pursuant to negotiations with the Plaintiffs in the Coeur d’Alene Basin environmental litigation and the State of Idaho on  the financial terms of settlement of the litigation and related claims. The settlement was finalized in September 2011. In addition, in 2012, we  reached a $3.0 million settlement with an insurance company for our claim for reimbursement of past costs related to the Coeur d’Alene Basin,  and we reduced provision for closed operations and environmental matters by that amount in the third quarter of 2012. y Income tax provision of $8.9 million in 2012 compared to $82.0 million in 2011, while we recognized an income tax benefit of $123.5 million in  2010. The lower provision in 2012 compared to 2011 is the result of reduced profits. The benefit recognized in 2010 is the result of a valuation  allowance adjustment to our deferred tax asset balances, which is included in the aggregate income tax benefit for that period. Our deferred  tax asset balances are recorded net of an offsetting valuation allowance to the extent that we estimate that the assets are not realizable  through future taxable income. In the fourth quarter of 2010, we removed substantially all of the valuation allowance on our deferred tax assets.  Significant evidence in 2010, including record cash flows from operations and higher metals prices, led us to conclude that our deferred tax  assets are more likely than not realizable due to estimated future profitability.  Greens Creek Segment [ HL:10-K ] 23 Years Ended December 31,  Dollars are in thousands (except per ounce and per ton amounts) 2012 2011 2010 Sales  $ 320,895 $ 342,906 $ 313,318 Cost of sales and other direct production costs  (134,105)  (113,393)  (116,824) Depreciation, depletion and amortization  (43,522)  (41,013)  (51,671) Gross Profit $ 143,268  $ 188,500  $ 144,823 Tons of ore milled  789,569 772,069 800,397 Production: Silver (ounces)  6,394,235 6,498,337 7,206,973 Gold (ounces) 55,496 56,818 68,838 Zinc (tons) 64,249 66,050 74,496 Lead (tons) 21,074 21,055 25,336 Payable metal quantities sold:  Silver (ounces)  5,430,252 5,314,232 6,223,967 Gold (ounces) 43,133 43,942 57,386 Zinc (tons) 50,895 48,436 56,001 Lead (tons) 15,733 16,067 20,221 Ore grades:  Silver ounces per ton 11.13 11.49 12.30 Gold ounces per ton 0.12 0.12 0.13 Zinc percent 9.35 9.81 10.66 Lead percent 3.49 3.52 4.09 Mining cost per ton $ 64.05 $ 49.31 $ 43.00 Milling cost per ton $ 29.35 $ 30.69 $ 24.23 Total cash cost per silver ounce  (1) $ 2.70 $ (1.29) $ (3.90)