content_image/227997.jpg content_image/227998.jpg content_image/227999.jpg
The following table represents net income per common share – basic and diluted (in thousands, except earnings per share): 

<img src='content_image/227997.jpg'>

For the years ended December 31, 2012, 2011 and 2010, we excluded options whose exercise prices exceeded the average prices of our stock during the periods, as their exercises would not have reduced earnings per share. The following options were excluded: 

<img src='content_image/227998.jpg'>

##  NoTE 14: oThEr CoMprEhENSIvE INCoME (loSS) 

The following table lists the beginning balance, yearly activity and ending balance of each component of “Accumulated other comprehensive loss, net” (in thousands): 

<img src='content_image/227999.jpg'>

The $1.6 million change in adjustments for pension plans for 2012 is net of $1.1 million for the income tax effect of such adjustments. The $1.2 million change in unrealized gains (losses) on securities is net of $1.2 million for the reclassification to current earnings of impairment of an equity security, as we deemed the impairment to be other-than-temporary. The 2012 change in unrealized gains (losses) on securities is also net of $0.3 million for the income tax effect of such adjustments, with some securities owned by our Mexican subsidiary.  See Note 2 for more information on our marketable securities and Note 8 for more information on our employee benefit plans. 

## NoTE 15: rElATED pArTy TrANSACTIoNS 

During 2008, we established the Hecla Charitable Foundation to operate exclusively for charitable and educational purposes, with a particular emphasis in those communities in which we have employees or operations and donated 550,000 shares of our common stock, valued at $5.1 million. Cash contributions totaling $2.0 million and $1.5 million were made by Hecla to the Hecla Charitable Foundation during 2011 and 2010, respectively. The Hecla Charitable Foundation was established by Hecla as a not-for-profit organization which has obtained 501(c)(3) status from the Internal Revenue Service. Its financial statements are not consolidated by Hecla. 

## NoTE 16: ACquISITIoNS 

## San Juan Silver Mining Joint Venture 30% Acquisition 

On December 12, 2011, we announced that our wholly-owned subsidiary, Rio Grande Silver Inc. (“Rio”), entered into a Purchase Sale Agreement with Emerald Mining & Leasing, LLC (“EML”), Golden 8 Mining, LLC (“G8”), and AgX Resources, Inc. (“AgX”), (EML, G8, and AgX are collectively referred to as the “Sellers”). Under the terms of the Agreement, Rio purchased the Sellers’ remaining 30% undivided interest in certain properties that had been governed by a Joint Venture Agreement (“2008 JVA”) entered into between EML, G8, and Rio on February 21, 2008, in return for the issuance of 5,395,683 shares of Hecla common stock valued at $33.8 million on the date that the transaction was completed. The number of common shares issued was based on 90% of the volume-weighted average price of our common shares on the New York Stock Exchange for the 20 trading days immediately preceding and including December 2, 2011. 

The original 2008 JVA between EML, G8, and Rio was terminated and a new Joint Venture Agreement for the exploration, evaluation and possible development and mining of mineral resources on certain properties in Mineral County, Colorado was entered into. EML, G8, and Rio will manage and operate under the name San Juan Silver Mining Joint Venture, and Rio will be the initial operator. 

