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GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2018
Goodwill and Other Intangible Assets [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL AND OTHER INTANGIBLE ASSETS

a) Intangible Assets
 
Water rights1

Technology2

Supply contracts3

Exploration potential4

Total

Opening balance January 1, 2017

$87


$11


$14


$160


$272

Additions
—

—

—

16

16

Disposals
(16
)
—

—

—

(16
)
Amortization
—

(2
)
(3
)
(12
)
(17
)
Closing balance December 31, 2017

$71


$9


$11


$164


$255

Amortization and impairment losses5
—

(1
)
(3
)
(24
)
(28
)
Closing balance December 31, 2018

$71


$8


$8


$140


$227

Cost

$71


$17


$39


$298


$425

Accumulated amortization and impairment losses
—

(9
)
(31
)
(158
)
(198
)
Net carrying amount December 31, 2018

$71


$8


$8


$140


$227

1 
Relates to water rights in South America, and will be amortized through cost of sales when we begin using these in the future.
2 
The amount is amortized through cost of sales using the UOP method over LOM ounces of the Pueblo Viejo mine, with no assumed residual value.
3 
Relates to a supply agreement with Michelin North America Inc. to secure a supply of tires and is amortized over the effective term of the contract through cost of sales.
4 
Exploration potential consists of the estimated fair value attributable to exploration licenses acquired as a result of a business combination or asset acquisition. The carrying value of the licenses will be transferred to PP&E when the development of attributable mineral resources commences.
5 
Exploration potential impairment losses relate to Acacia’s Nyanzaga project in Tanzania.
 








b) Goodwill
 
Closing balance December 31, 2017

Impairments

Closing balance December 31, 2018

Barrick Nevada

$514


$—


$514

Veladero
154

(154
)
—

Turquoise Ridge
528

—

528

Hemlo
63

—

63

Kalgoorlie
71

—

71

Total

$1,330


($154
)

$1,176

On a total basis, the gross amount and accumulated impairment losses are as follows:
 
 
Cost

$8,618

Accumulated impairment losses December 31, 2018
(7,442
)
Net carrying amount December 31, 2018

$1,176