Cash and cash equivalents held in U.S. dollars decreased in 2012, as discussed below. Cash held in foreign currencies represent nominal balances in  Canadian dollars and Mexican pesos. The value of non-current marketable equity securities increased by $5.7 million due to investments in junior  mining companies in the second half of 2012. In 2011, we settled Hecla Limited’s Coeur d’Alene Basin environmental litigation and related claims pursuant to a Consent Decree entered by the  Court on September 8, 2011. Payments of approximately $168 million and $25 million (and related interest) were made in October 2011 and 2012,  respectively, pursuant to the terms of the Consent Decree. Hecla Limited remains obligated under the Consent Decree to make payments totaling  $70.5 million, plus interested, over the next year-and-a-half. See Note 4 of Notes to Consolidated Financial Statements for more information. The #4 Shaft project, which is discussed further in the  Lucky Friday Segment  section above, is expected to involve capital expenditures of  approximately $200 million, including approximately $92 million that has been spent on the project as of December 31, 2012.  Pursuant to our common stock dividend policy described in  Note 8  of  Notes to Consolidated Financial Statements , our Board of Directors declared  and paid common dividends totaling $17.1 million in 2012, and declared a dividend totaling $3.6 million in February 2013, payable in March 2013. Our  dividend policy has a silver-price-linked component which ties the amount of declared common stock dividends to our realized silver price for the  preceding quarter. Another component of our common stock dividend policy anticipates paying an annual minimum dividend. The declaration and  payment of common stock dividends is at the sole discretion of our Board of Directors, and there can be no assurance that we will continue to declare  and pay common stock dividends in the future. Assuming no change from the current number of common shares outstanding, aggregate cash  dividends under this policy would total approximately $3.6 million per quarter if average realized silver prices are between $30 and $35 per ounce and  $6.4 million per quarter if silver prices are between $35 and $40 per ounce, if declared by the Board of Directors.  On May 8, 2012, we announced that our Board of Directors approved a stock repurchase program. Under the program, we are authorized to  repurchase up to 20 million shares of our outstanding common stock from time to time in open market or privately negotiated transactions, depending  on prevailing market conditions and other factors. The repurchase program may be modified, suspended or discontinued by us at any time. As of  December 31, 2012, 350,300 shares have been repurchased under the program, at an average price of $5.54 per share, leaving 19.65 million shares that  may yet be purchased under the program as of year end. The closing price of our common stock at February 21, 2013, was $4.90 per share. As discussed in the  Greens Creek Segment  section above, we anticipate that in 2013 we will complete development of a revised plan for  reclamation and closure of the Greens Creek mine at the end of its life. Although revision of the plan has not been completed, preliminary work has led  us to believe that it will result in a significant increase in estimated closure costs, which will require us to provide increased bond coverage. In the fourth  quarter of 2012, we updated our asset retirement obligation at Greens Creek to reflect a preliminary revised reclamation and closure plan having  estimated undiscounted costs of approximately $73.9 million. The previous estimated closure plan of $53.4 million is covered by an unsecured bond  requiring no restriction of cash balances. However, it is currently unknown whether, and to what extent, bonding for the revised plan will be secured by  cash or if it will be available in the amount required. As a result of our current cash balance, the performance of our operations, current metals prices, and full availability of our $150 million revolving  credit agreement, we believe our cash, cash equivalents, investments, projected cash from operations, and availability of financing if needed will be  adequate to meet our obligations during the next 12 months, including the required environmental settlement payments previously discussed, capital  outlays for the #4 Shaft project, potential repurchases of our common stock under the program described above, and payment of potential common  stock dividends, if declared by our Board of Directors. We currently estimate that a total of approximately $152 million will be spent on capital  expenditures for equipment, infrastructure, and development at our Lucky Friday and Greens Creek units in 2013. We also estimate that exploration  and pre-development expenditures will total approximately $52 million in 2013. However, capital, exploration, and pre-development expenditures may  change based upon our financial position, metals prices, and other considerations. Our ability to fund the activities described above will depend on  our operating performance, metals prices, our ability to estimate costs, sources of liquidity available to us, and other factors. However, a sustained  downturn in metals prices or significant increase in operational or capital costs, other uses of cash, or other factors beyond our control could impact  our plans.  Cash provided by operating activities decreased by $0.9 million in 2012 compared to 2011 due to lower income, adjusted for non-cash items, due  primarily to the suspension of production at our Lucky Friday unit during 2012 (see  The Lucky Friday Segment  section above for more information).  The variance in income was offset by working capital and other asset and liability changes that decreased cash flow by $34.1 million in 2012 compared  to a $162.4 million decrease in 2011. The larger decrease in 2011 is primarily the result of the approximately $168 million litigation settlement payment  discussed further below. Cash provided by operating activities decreased by $127.9 million in 2011 compared to 2010 due to working capital and other asset and liability  changes. This is partially offset by higher income, as adjusted for non-cash items, due to higher prices for all four metals produced at our operations.  Working capital and other asset and liability changes decreased cash flow by $162.4 million in 2011, compared to a $8.1 million increase in 2010. The  $170.5 million difference is due to decreases in accrued reclamation and closure costs, accounts payable, accrued taxes, and other non-current  liabilities and increased inventory, partially offset by lower accounts receivable and higher accrued payroll and related benefits. The decrease in  accrued reclamation and closure costs is due primarily to approximately $168 million paid in October 2011 as part of the Coeur d’Alene Basin litigation  settlement. Accounts payable also decreased due to payment of the final quarterly dividend on the 6.5% Mandatory Convertible Preferred Stock in  January 2011, and a reduction in payables related to settled base metal forward contracts. Accrued tax balances decreased during the year due to pre- payments of tax in excess of our estimated liability for the year and the refund of Alaska mine license tax related to the amendment of tax returns for  previous years. Other non-current liabilities decreased as a result of a reduction in accruals for long-term incentive compensation. The decrease in  accounts receivable and increase in inventory balances is due to the timing of concentrate shipments at our Greens Creek unit. Accrued payroll and  related benefits balances increased due to the addition of personnel during the year and higher accruals for short-term incentive compensation. At current prices, we would expect cash provided by operating activities for 2013 to be comparable to or higher than levels for 2012. [ HL:10-K ] 29 Year Ended December 31,  2012 2011 2010 Cash provided by operating activities (in millions) $  69.0  $  69.9  $  197.8 