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SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2018
Disclosure of operating segments [line items]  
Disclosure of entity's operating segments [text block]
SEGMENT INFORMATION
Barrick’s business is organized into eleven individual minesites, one grouping of two minesites, 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 are operating segments for financial reporting purposes. Our presentation of our reportable operating segments is 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. 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 Statement of Income Information
  
  
Cost of Sales
  
  
  
For the three months ended June 30, 2018
Revenue

Direct mining, royalties and community relations

Depreciation

Exploration, evaluation and project expenses

Other expenses (income)1

Segment income (loss)

Barrick Nevada

$585


$238


$139


$8


$7


$193

Turquoise Ridge
75

40

7

—

—

28

Pueblo Viejo2
297

134

43

4

1

115

Veladero
111

47

34

2

1

27

Lagunas Norte
89

31

11

2

2

43

Acacia2
176

95

23

—

25

33

Pascua-Lama
—

—

3

25

6

(34
)
Other Mines3,4
379

261

63

3

2

50

 

$1,712


$846


$323


$44


$44


$455



Consolidated Statement of Income Information
  
  
Cost of Sales
  
  
  
For the three months ended June 30, 2017
Revenue

Direct mining, royalties and community relations

Depreciation

Exploration, evaluation and project expenses

Other expenses (income)1

Segment income (loss)

Barrick Nevada

$921


$277


$252


$6


$8


$378

Turquoise Ridge
26

16

2

—

1

7

Pueblo Viejo2
379

120

44

—

7

208

Veladero
115

56

—

3

1

55

Lagunas Norte
126

42

17

2

4

61

Acacia2
159

73

24

—

8

54

Pascua-Lama
—

—

2

22

6

(30
)
Other Mines3,4
434

275

63

2

10

84

 

$2,160


$859


$404


$35


$45


$817



Consolidated Statement of Income Information
 
 
Cost of Sales
 
 
 
For the six months ended June 30, 2018
Revenue

Direct mining, royalties and community relations

Depreciation

Exploration, evaluation and project expenses

Other expenses (income)1

Segment income (loss)

Barrick Nevada
$1,199
$481
$287
$10
$8
$413
Turquoise Ridge
159

78

14

—

—

67

Pueblo Viejo2
653

260

84

8

1

300

Veladero
212

92

65

2

1

52

Lagunas Norte
185

58

22

2

4

99

Acacia2
333

181

47

—

1

104

Pascua-Lama
—

—

5

48

11

(64
)
Other Mines3,4
761

521

118

6

22

94

 
$3,502
$1,671
$642
$76
$48
$1,065


Consolidated Statement of Income Information
 
 
Cost of Sales
 
 
 
For the six months ended June 30, 2017
Revenue

Direct mining, royalties and community relations

Depreciation

Exploration, evaluation and project expenses

Other expenses (income)1

Segment income (loss)

Barrick Nevada
$1,567
$557
$459
$10
$15
$526
Turquoise Ridge
93

46

9

—

1

37

Pueblo Viejo2
686

240

84

—

7

355

Veladero
325

158

38

3

1

125

Lagunas Norte
241

79

33

3

6

120

Acacia2
391

189

59

—

14

129

Pascua-Lama
—

—

4

44

1

(49
)
Other Mines3,4
850

511

119

5

17

198

 
$4,153
$1,780
$805
$65
$62
$1,441

1 
Includes accretion expense, which is included within finance costs in the consolidated statement of income. For the three months ended June 30, 2018, accretion expense was $20 million (2017: $17 million) and for the six months ended June 30, 2018, accretion expense was $37 million (2017: $31 million).
2 
Includes non-controlling interest portion of revenues, cost of sales and segment income for the three months ended June 30, 2018 for Pueblo Viejo $119 million, $70 million, $48 million (2017: $153 million, $64 million, $86 million) and Acacia $63 million, $42 million, $11 million (2017: $57 million, $34 million, $20 million) and for the six months ended June 30, 2018 for Pueblo Viejo $257 million, $136 million, $118 million (2017: $274 million, $125 million, $146 million) and Acacia $120 million, $82 million, $37 million (2017: $141 million, $89 million, $47 million).
3 
Includes cost of sales of Pierina for the three months ended June 30, 2018 of $30 million (2017: $47 million) and for the six months ended June 30, 2018 of $62 million (2017: $81 million).
4 
Includes provisional pricing adjustments for the three months ended June 30, 2018 of $6 million losses (2017: $11 million losses) and for six months ended June 30, 2018 of $29 million losses (2017: $19 million losses).
 
Reconciliation of Segment Income to Income Before Income Taxes
  
For the three months ended June 30
 
For the six months ended June 30
 
  
2018

2017

2018

2017

Segment income

$455


$817


$1,065


$1,441

Other cost of sales/amortization1
(7
)
(14
)
(15
)
(34
)
Exploration, evaluation and project expenses not attributable to segments
(53
)
(46
)
(94
)
(91
)
General and administrative expenses
(93
)
(45
)
(141
)
(117
)
Other income (expense) not attributable to segments
(14
)
867

(28
)
868

Impairment reversals (charges) not attributable to segments
(59
)
5

(61
)
1,130

Loss on currency translation
(75
)
(32
)
(90
)
(35
)
Closed mine rehabilitation
(9
)
3

—

(5
)
Income from equity investees
10

14

26

25

Finance costs, net (includes non-segment accretion)
(116
)
(156
)
(232
)
(292
)
Gain (loss) on non-hedge derivatives2
1

(2
)
3

2

Income before income taxes

$40


$1,411


$433


$2,892


1 
Includes all realized hedge gains and losses for the three months ended June 30, 2018 of $1 million losses (2017: $8 million losses) and for the six months ended June 30, 2018 of $2 million losses (2017: $14 million losses).
2 
Includes unrealized non-hedge gains and losses for the three months ended June 30, 2018 of $nil losses (2017: $nil losses) and for the six months ended June 30, 2018 of $nil losses (2017: $3 million losses).


Capital Expenditures Information
 
Segment capital expenditures1
 
For the three months ended June 30
 
For the six months ended June 30
 
  
2018

2017

2018

2017

Barrick Nevada

$151


$183


$297


$313

Turquoise Ridge
14

4

27

13

Pueblo Viejo
33

28

71

49

Veladero
33

63

64

113

Lagunas Norte
7

4

10

9

Acacia
25

45

51

91

Pascua-Lama
2

—

11

3

Other Mines
61

67

113

115

Segment total

$326


$394


$644


$706

Other items not allocated to segments
15

9

28

15

Total

$341


$403


$672


$721


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. For the three months ended June 30, 2018, cash expenditures were $313 million (2017: $405 million) and the increase in accrued expenditures was $28 million (2017: $2 million decrease). For the six months ended June 30, 2018, cash expenditures were $639 million (2017: $739 million) and the increase in accrued expenditures was $33 million (2017: $18 million decrease). 


Purchase Commitments
At June 30, 2018, we had purchase obligations for supplies and consumables of $2,067 million (December 31, 2017: $1,147 million).

Capital Commitments
In addition to entering into various operational commitments in the normal course of business, we had capital commitments of $132 million at June 30, 2018 (December 31, 2017: $118 million).
Consolidated Statement of Income Information
  
  
Cost of Sales
  
  
  
For the three months ended June 30, 2018
Revenue

Direct mining, royalties and community relations

Depreciation

Exploration, evaluation and project expenses

Other expenses (income)1

Segment income (loss)

Barrick Nevada

$585


$238


$139


$8


$7


$193

Turquoise Ridge
75

40

7

—

—

28

Pueblo Viejo2
297

134

43

4

1

115

Veladero
111

47

34

2

1

27

Lagunas Norte
89

31

11

2

2

43

Acacia2
176

95

23

—

25

33

Pascua-Lama
—

—

3

25

6

(34
)
Other Mines3,4
379

261

63

3

2

50

 

$1,712


$846


$323


$44


$44


$455



Consolidated Statement of Income Information
  
  
Cost of Sales
  
  
  
For the three months ended June 30, 2017
Revenue

Direct mining, royalties and community relations

Depreciation

Exploration, evaluation and project expenses

Other expenses (income)1

Segment income (loss)

Barrick Nevada

$921


$277


$252


$6


$8


$378

Turquoise Ridge
26

16

2

—

1

7

Pueblo Viejo2
379

120

44

—

7

208

Veladero
115

56

—

3

1

55

Lagunas Norte
126

42

17

2

4

61

Acacia2
159

73

24

—

8

54

Pascua-Lama
—

—

2

22

6

(30
)
Other Mines3,4
434

275

63

2

10

84

 

$2,160


$859


$404


$35


$45


$817



Consolidated Statement of Income Information
 
 
Cost of Sales
 
 
 
For the six months ended June 30, 2018
Revenue

Direct mining, royalties and community relations

Depreciation

Exploration, evaluation and project expenses

Other expenses (income)1

Segment income (loss)

Barrick Nevada
$1,199
$481
$287
$10
$8
$413
Turquoise Ridge
159

78

14

—

—

67

Pueblo Viejo2
653

260

84

8

1

300

Veladero
212

92

65

2

1

52

Lagunas Norte
185

58

22

2

4

99

Acacia2
333

181

47

—

1

104

Pascua-Lama
—

—

5

48

11

(64
)
Other Mines3,4
761

521

118

6

22

94

 
$3,502
$1,671
$642
$76
$48
$1,065


Consolidated Statement of Income Information
 
 
Cost of Sales
 
 
 
For the six months ended June 30, 2017
Revenue

Direct mining, royalties and community relations

Depreciation

Exploration, evaluation and project expenses

Other expenses (income)1

Segment income (loss)

Barrick Nevada
$1,567
$557
$459
$10
$15
$526
Turquoise Ridge
93

46

9

—

1

37

Pueblo Viejo2
686

240

84

—

7

355

Veladero
325

158

38

3

1

125

Lagunas Norte
241

79

33

3

6

120

Acacia2
391

189

59

—

14

129

Pascua-Lama
—

—

4

44

1

(49
)
Other Mines3,4
850

511

119

5

17

198

 
$4,153
$1,780
$805
$65
$62
$1,441

1 
Includes accretion expense, which is included within finance costs in the consolidated statement of income. For the three months ended June 30, 2018, accretion expense was $20 million (2017: $17 million) and for the six months ended June 30, 2018, accretion expense was $37 million (2017: $31 million).
2 
Includes non-controlling interest portion of revenues, cost of sales and segment income for the three months ended June 30, 2018 for Pueblo Viejo $119 million, $70 million, $48 million (2017: $153 million, $64 million, $86 million) and Acacia $63 million, $42 million, $11 million (2017: $57 million, $34 million, $20 million) and for the six months ended June 30, 2018 for Pueblo Viejo $257 million, $136 million, $118 million (2017: $274 million, $125 million, $146 million) and Acacia $120 million, $82 million, $37 million (2017: $141 million, $89 million, $47 million).
3 
Includes cost of sales of Pierina for the three months ended June 30, 2018 of $30 million (2017: $47 million) and for the six months ended June 30, 2018 of $62 million (2017: $81 million).
4 
Includes provisional pricing adjustments for the three months ended June 30, 2018 of $6 million losses (2017: $11 million losses) and for six months ended June 30, 2018 of $29 million losses (2017: $19 million losses).
 
Reconciliation of Segment Income to Income Before Income Taxes
  
For the three months ended June 30
 
For the six months ended June 30
 
  
2018

2017

2018

2017

Segment income

$455


$817


$1,065


$1,441

Other cost of sales/amortization1
(7
)
(14
)
(15
)
(34
)
Exploration, evaluation and project expenses not attributable to segments
(53
)
(46
)
(94
)
(91
)
General and administrative expenses
(93
)
(45
)
(141
)
(117
)
Other income (expense) not attributable to segments
(14
)
867

(28
)
868

Impairment reversals (charges) not attributable to segments
(59
)
5

(61
)
1,130

Loss on currency translation
(75
)
(32
)
(90
)
(35
)
Closed mine rehabilitation
(9
)
3

—

(5
)
Income from equity investees
10

14

26

25

Finance costs, net (includes non-segment accretion)
(116
)
(156
)
(232
)
(292
)
Gain (loss) on non-hedge derivatives2
1

(2
)
3

2

Income before income taxes

$40


$1,411


$433


$2,892


1 
Includes all realized hedge gains and losses for the three months ended June 30, 2018 of $1 million losses (2017: $8 million losses) and for the six months ended June 30, 2018 of $2 million losses (2017: $14 million losses).
2 
Includes unrealized non-hedge gains and losses for the three months ended June 30, 2018 of $nil losses (2017: $nil losses) and for the six months ended June 30, 2018 of $nil losses (2017: $3 million losses).


Capital Expenditures Information
 
Segment capital expenditures1
 
For the three months ended June 30
 
For the six months ended June 30
 
  
2018

2017

2018

2017

Barrick Nevada

$151


$183


$297


$313

Turquoise Ridge
14

4

27

13

Pueblo Viejo
33

28

71

49

Veladero
33

63

64

113

Lagunas Norte
7

4

10

9

Acacia
25

45

51

91

Pascua-Lama
2

—

11

3

Other Mines
61

67

113

115

Segment total

$326


$394


$644


$706

Other items not allocated to segments
15

9

28

15

Total

$341


$403


$672


$721


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. For the three months ended June 30, 2018, cash expenditures were $313 million (2017: $405 million) and the increase in accrued expenditures was $28 million (2017: $2 million decrease). For the six months ended June 30, 2018, cash expenditures were $639 million (2017: $739 million) and the increase in accrued expenditures was $33 million (2017: $18 million decrease).