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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2020
Goodwill and Other Intangible Assets [Abstract]  
Intangible assets
a) Intangible Assets
Water rights1
Technology2
Supply contracts3
Exploration potential4
 Total
Opening balance January 1, 2019 $71  $8  $8  $140  $227 
Additions 1  —  —  —  1 
Amortization and impairment losses —  (1) (1) —  (2)
Closing balance December 31, 2019 $72  $7  $7  $140  $226 
Additions —  —  —  5  5 
Disposals5
 (5) —  —  (41) (46)
Amortization and impairment losses —  (1) (3) (12) (16)
Closing balance December 31, 2020 $67  $6  $4  $92  $169 
Cost $67  $17  $39  $262  $385 
Accumulated amortization and impairment losses —  (11) (35) (170) (216)
Net carrying amount December 31, 2020 $67  $6  $4  $92  $169 
1Relates to water rights in South America, and will be amortized through cost of sales when we begin using these in the future.
2The amount is amortized through cost of sales using the UOP method over LOM ounces of the Pueblo Viejo mine, with no assumed residual value.
3Relates 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.
4Exploration 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.
5Exploration potential disposals primarily relate to the sale of Acacia exploration properties.
Goodwill
Closing balance December 31, 2019 Additions Disposals Closing balance December 31, 2020
Carlin $1,294  $—  $—  $1,294 
Cortez 724  —  —  724 
Turquoise Ridge 722  —  —  722 
Phoenix 119  —  —  119 
Goldrush 175  —  —  175 
Hemlo 63  —  —  63 
Loulo-Gounkoto 1,672  —  —  1,672 
Total $4,769  $—  $—  $4,769 
On a total basis, the gross amount and accumulated impairment losses are as follows:
Cost $12,211 
Accumulated impairment losses December 31, 2020 (7,442)
Net carrying amount December 31, 2020 $4,769