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INVESTMENTS | 12 Months Ended
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Dec. 31, 2020
Interests In Other Entities [Abstract] |
INVESTMENTS |
Equity Accounting Method Investment Continuity |  |  |  |  |  |
| Kibali | Jabal Sayid | Zaldívar | Other | Total |
At January 1, 2019 | $— |  | $245 |  | $989 |  | $— |  | $1,234 |  |
Acquisitions | 3,195 |  | — |  | — |  | 58 |  | 3,253 |  |
Equity pick-up from equity investees | 98 |  | 51 |  | 16 |  | — |  | 165 |  |
Funds invested | — |  | — |  | — |  | 2 |  | 2 |  |
Dividends paid | (75) |  | — |  | (50) |  | — |  | (125) |  |
Shareholder loan repayment | — |  | — |  | — |  | (2) |  | (2) |  |
At December 31, 2019 | $3,218 |  | $296 |  | $955 |  | $58 |  | $4,527 |  |
Equity pick-up from equity investees | 201 |  | 74 |  | 12 |  | 1 |  | 288 |  |
Dividends paid | (140) |  | — |  | — |  | (1) |  | (141) |  |
Shareholder loan repayment/disbursements | — |  | (1) |  | — |  | (3) |  | (4) |  |
At December 31, 2020 | $3,279 |  | $369 |  | $967 |  | $55 |  | $4,670 |  |
Summarized Equity Investee Financial Information |  |  |  |
| Kibali | Jabal Sayid | Zaldívar
For the years ended December 31 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019
Revenue | $1,440 |  | $1,123 |  | $400 |  | $315 |  | $595 |  | $685 |
Cost of sales (excluding depreciation) | 495 |  | 460 |  | 154 |  | 133 |  | 380 |  | 442 |
Depreciation | 387 |  | 435 |  | 54 |  | 53 |  | 143 |  | 172 |
Finance expense | (1) |  | — |  | — |  | 1 |  | 1 |  | 12 |
Other expense (income) | 43 |  | 18 |  | 4 |  | (2) |  | 32 |  | 10 |
Income before income taxes | $516 |  | $210 |  | $188 |  | $130 |  | $39 |  | $49 |
Income tax expense | (94) |  | (16) |  | (40) |  | (27) |  | (15) |  | (17) |
Net income | $422 |  | $194 |  | $148 |  | $103 |  | $24 |  | $32 |
Total comprehensive income | $422 |  | $194 |  | $148 |  | $103 |  | $24 |  | $32 |
Summarized Balance Sheet |  |  |  |  |  |
| Kibali | Jabal Sayid | Zaldívar
For the years ended December 31 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019
Cash and equivalents 1 | $944 |  | $453 |  | $71 |  | $43 |  | $271 |  | $139 |
Other current assets 2 | 131 |  | 338 |  | 68 |  | 67 |  | 676 |  | 632 |
Total current assets | $1,075 |  | $791 |  | $139 |  | $110 |  | $947 |  | $771 |
Non-current assets | 4,559 |  | 4,623 |  | 429 |  | 464 |  | 1,839 |  | 1,823 |
Total assets | $5,634 |  | $5,414 |  | $568 |  | $574 |  | $2,786 |  | $2,594 |
Current financial liabilities (excluding trade, other payables & provisions) | $19 |  | $11 |  | $4 |  | $— |  | $36 |  | $19 |
Other current liabilities | 103 |  | 35 |  | 59 |  | 63 |  | 257 |  | 99 |
Total current liabilities | $122 |  | $46 |  | $63 |  | $63 |  | $293 |  | $118 |
Non-current financial liabilities (excluding trade, other payables & provisions) | 42 |  | 44 |  | — |  | 150 |  | 125 |  | 11 |
Other non-current liabilities | 653 |  | 648 |  | 12 |  | 14 |  | 545 |  | 536 |
Total non-current liabilities | $695 |  | $692 |  | $12 |  | $164 |  | $670 |  | $547 |
Total liabilities | $817 |  | $738 |  | $75 |  | $227 |  | $963 |  | $665 |
Net assets | $4,817 |  | $4,676 |  | $493 |  | $347 |  | $1,823 |  | $1,929 |
1.Kibali cash and equivalents are subject to various administrative steps before they can be distributed to the joint venture shareholders and are held across three banks in the Democratic Republic of Congo, including two domestic banks. 2.Zaldívar other current assets include inventory of $607 million (2019: $543 million). The information above reflects the amounts presented in the financial information of the joint venture adjusted for differences between IFRS and local GAAP and fair value adjustments on acquisition of equity in investees.
Reconciliation of Summarized Financial Information to Carrying Value |  |  |
| Kibali | Jabal Sayid | Zaldívar
Opening net assets | $4,676 |  | $347 |  | $1,929 |
Income for the period | 422 |  | 148 |  | 24 |
Dividends paid | (281) |  | — |  | — |
Disbursements | — |  | (2) |  | — |
Dividends declared not paid | — |  | — |  | (130) |
Closing net assets, December 31 | $4,817 |  | $493 |  | $1,823 |
Barrick's share of net assets | 2,168 |  | 246 |  | 977 |
Equity earnings adjustment | — |  | — |  | (10) |
Goodwill recognition | 1,111 |  | 123 |  | — |
Carrying value | $3,279 |  | $369 |  | $967 |

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- Definition The entire disclosure for interests in other entities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 12 -IssueDate 2019-01-01 -Paragraph 1 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2019-en-r&anchor=para_1&doctype=Standard -URIDate 2019-03-27 + Details
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