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SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2017
Operating Segments [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION In the first quarter of 2017, we unified the management and the operation of our Cortez and Goldstrike minesites, now referred to as Barrick Nevada. Barrick’s business is organized into eleven individual minesites, one grouping of two mine sites, one publicly traded company and one project. Barrick’s Chief Operating Decision Maker (“CODM”), the President, reviews the operating results, assesses performance and makes capital allocation decisions at the minesite, grouping, Company and/or project level. Therefore, each individual minesite, with the exception of Barrick Nevada, Acacia and the Pascua-Lama project, is an operating segment for financial reporting purposes. Our updated presentation of our reportable operating segments is now four individual gold mines (Pueblo Viejo, Lagunas Norte, Veladero and Turquoise Ridge), Barrick Nevada, Acacia and our Pascua-Lama project. The remaining operating segments, our remaining gold and copper mines, have been grouped into an “other” category and will not be reported on individually. The prior periods have been restated to reflect the change in presentation. Segment performance is evaluated based on a number of measures including operating income before tax, production levels and unit production costs. Certain costs are managed on a consolidated basis and are therefore not reflected in segment income. Consolidated Statements of Income Information
|  | Cost of Sales |  |  |
For the year ended December 31, 2017 | Revenue |  | Direct mining, royalties and community relations |  | Depreciation |  | Exploration, evaluation and project expenses |  | Other expenses (income)1 |  | Segment income (loss) |
Barrick Nevada |  | $2,961 |  |  | $1,076 |  |  | $793 |  |  | $24 |  |  | $16 |  |  | $1,052 |
Pueblo Viejo 2 | 1,417 |  | 501 |  | 229 |  | — |  | 16 |  | 671 |
Lagunas Norte | 514 |  | 177 |  | 68 |  | 4 |  | 6 |  | 259 |
Veladero | 591 |  | 291 |  | 119 |  | 3 |  | 5 |  | 173 |
Turquoise Ridge | 280 |  | 131 |  | 28 |  | — |  | 2 |  | 119 |
Acacia 2 | 751 |  | 362 |  | 107 |  | — |  | 91 |  | 191 |
Pascua-Lama | — |  | — |  | 8 |  | 125 |  | (10 | ) | (123 | )
Other Mines 3 | 1,860 |  | 1,086 |  | 267 |  | 12 |  | 31 |  | 464 |
|  | $8,374 |  |  | $3,624 |  |  | $1,619 |  |  | $168 |  |  | $157 |  |  | $2,806 |
Consolidated Statements of Income Information
|  | Cost of Sales |  |  |
For the year ended December 31, 2016 | Revenue |  | Direct mining, royalties and community relations |  | Depreciation |  | Exploration, evaluation and project expenses |  | Other expenses (income)1 |  | Segment income (loss) |
Barrick Nevada |  | $2,703 |  |  | $1,089 |  |  | $807 |  |  | $19 |  |  | $17 |  |  | $771 |
Pueblo Viejo 2 | 1,548 |  | 497 |  | 147 |  | — |  | 3 |  | 901 |
Lagunas Norte | 548 |  | 180 |  | 96 |  | 3 |  | 9 |  | 260 |
Veladero | 685 |  | 346 |  | 118 |  | 1 |  | — |  | 220 |
Turquoise Ridge | 322 |  | 128 |  | 27 |  | — |  | 1 |  | 166 |
Acacia 2 | 1,045 |  | 553 |  | 166 |  | 27 |  | — |  | 299 |
Pascua-Lama | — |  | — |  | 7 |  | 59 |  | 1 |  | (67 | )
Other Mines 3 | 1,707 |  | 958 |  | 188 |  | 6 |  | 52 |  | 503 |
|  | $8,558 |  |  | $3,751 |  |  | $1,556 |  |  | $115 |  |  | $83 |  |  | $3,053 |
1 | Includes accretion expense, which is included with finance costs in the consolidated statements of income. For the year ended December 31, 2017, accretion expense was $55 million (2016: $41 million). Refer to note 9a for details of other expenses (income).
2 | Includes non-controlling interest portion of revenues, cost of sales and segment income for the year ended December 31, 2017, for Pueblo Viejo, $567 million, $285 million, $276 million (2016: $623 million, $249 million, $373 million) and Acacia, $271 million, $169 million, $69 million (2016: $377 million, $259 million, $108 million).
3 | Includes cost of sales of Pierina for the year ended December 31, 2017 of $174 million (2016: $82 million).
Reconciliation of Segment Income to Income from Continuing Operations Before Income Taxes
For the years ended December 31 | 2017 |  | 2016 |
Segment income |  | $2,806 |  |  | $3,053 |
Other cost of sales/amortization 1 | (57 | ) | (98 | )
Exploration, evaluation and project expenses not attributable to segments | (186 | ) | (122 | )
General and administrative expenses | (248 | ) | (256 | )
Other (expense) income not attributable to segments | 901 |  | (18 | )
Impairment reversals | 212 |  | 250 |
Loss on currency translation | (72 | ) | (199 | )
Closed mine rehabilitation | (55 | ) | (130 | )
Income from equity investees | 76 |  | 20 |
Finance costs, net (includes non-segment accretion)2 | (636 | ) | (734 | )
Gain on non-hedge derivatives 3 | 6 |  | 12 |
Income before income taxes |  | $2,747 |  |  | $1,778 |
1 | Includes all realized hedge losses of $27 million (2016: $73 million).
2 | Includes debt extinguishment losses of $127 million (2016: $129 million).
3 | Includes unrealized non-hedge gains of $1 million (2016: $32 million).
Geographic Information
| Non-current assets | Revenue 1
| As at December 31, 2017 |  | As at December 31, 2016 |  | 2017 |  | 2016 |
United States |  | $6,641 |  |  | $6,768 |  |  | $3,299 |  |  | $3,081 |
Dominican Republic | 3,480 |  | 3,540 |  | 1,417 |  | 1,548 |
Argentina | 2,217 |  | 2,366 |  | 591 |  | 685 |
Chile | 2,469 |  | 1,945 |  | — |  | — |
Tanzania | 1,129 |  | 1,673 |  | 751 |  | 1,045 |
Peru | 734 |  | 678 |  | 676 |  | 663 |
Australia | 463 |  | 478 |  | 456 |  | 472 |
Zambia | 787 |  | 473 |  | 612 |  | 466 |
Papua New Guinea | 351 |  | 353 |  | 322 |  | 304 |
Saudi Arabia | 371 |  | 346 |  | — |  | — |
Canada | 625 |  | 503 |  | 250 |  | 294 |
Unallocated | 1,357 |  | 1,267 |  | — |  | — |
Total |  | $20,624 |  |  | $20,390 |  |  | $8,374 |  |  | $8,558 |
1 | Presented based on the location from which the product originated.
Capital Expenditures Information
| Segment Capital Expenditures 1
| As at December 31, 2017 |  | As at December 31, 2016 |
Barrick Nevada |  | $585 |  |  | $358 |
Pueblo Viejo | 114 |  | 101 |
Lagunas Norte | 25 |  | 56 |
Veladero | 173 |  | 95 |
Turquoise Ridge | 36 |  | 32 |
Acacia | 148 |  | 191 |
Pascua-Lama | 6 |  | 20 |
Other Mines | 259 |  | 230 |
Segment total |  | $1,346 |  |  | $1,083 |
Other items not allocated to segments | 36 |  | 36 |
Total |  | $1,382 |  |  | $1,119 |
1 | Segment capital expenditures are presented for internal management reporting purposes on an accrual basis. Capital expenditures in the consolidated statements of cash flow are presented on a cash basis. In 2017, cash expenditures were $1,396 million (2016: $1,126 million) and the decrease in accrued expenditures was $14 million (2016: $7 million decrease).

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