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INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2021
Interests in other entities [Abstract] |
Schedules of equity accounting method investments |
Equity Accounting Method Investment Continuity |  |  |  |  |  |
| Kibali | Jabal Sayid | Zaldívar | Other | Total |
At January 1, 2020 | $3,218 |  | $296 |  | $955 |  | $58 |  | $4,527 |  |
Equity pick-up from equity investees | 201 |  | 74 |  | 12 |  | 1 |  | 288 |  |
Dividends received from equity investees | (140) |  | — |  | — |  | (1) |  | (141) |  |
Shareholder loan repayment/disbursements | — |  | (1) |  | — |  | (3) |  | (4) |  |
At December 31, 2020 | $3,279 |  | $369 |  | $967 |  | $55 |  | $4,670 |  |
Equity pick-up from equity investees | 219 |  | 159 |  | 68 |  | — |  | 446 |  |
Dividends received from equity investees | (231) |  | (146) |  | (142) |  | (1) |  | (520) |  |
Shareholder loan repayment | — |  | — |  | — |  | (2) |  | (2) |  |
At December 31, 2021 | $3,267 |  | $382 |  | $893 |  | $52 |  | $4,594 |  |
Summarized Equity Investee Financial Information |  |  |  |
| Kibali | Jabal Sayid | Zaldívar
For the years ended December 31 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020
Revenue | $1,469 |  | $1,440 |  | $597 |  | $400 |  | $847 |  | $595 |
Cost of sales (excluding depreciation) | 515 |  | 495 |  | 157 |  | 154 |  | 469 |  | 380 |
Depreciation | 314 |  | 387 |  | 42 |  | 54 |  | 158 |  | 143 |
Finance expense (income) | (1) |  | (1) |  | 1 |  | — |  | (4) |  | 1 |
Other expense (income) | 68 |  | 43 |  | (5) |  | 4 |  | 25 |  | 32 |
Income before income taxes | $573 |  | $516 |  | $402 |  | $188 |  | $199 |  | $39 |
Income tax expense | (141) |  | (94) |  | (84) |  | (40) |  | (61) |  | (15) |
Net income | $432 |  | $422 |  | $318 |  | $148 |  | $138 |  | $24 |
Total comprehensive income | $432 |  | $422 |  | $318 |  | $148 |  | $138 |  | $24 |
Summarized Balance Sheet |  |  |  |  |  |
| Kibali | Jabal Sayid | Zaldívar
For the years ended December 31 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020
Cash and equivalents 1 | $1,116 |  | $944 |  | $85 |  | $71 |  | $171 |  | $271 |
Other current assets 2 | 298 |  | 131 |  | 178 |  | 68 |  | 493 |  | 392 |
Total current assets | $1,414 |  | $1,075 |  | $263 |  | $139 |  | $664 |  | $663 |
Non-current assets 2 | 4,310 |  | 4,559 |  | 419 |  | 429 |  | 2,031 |  | 2,123 |
Total assets | $5,724 |  | $5,634 |  | $682 |  | $568 |  | $2,695 |  | $2,786 |
Current financial liabilities (excluding trade, other payables & provisions) | $16 |  | $19 |  | $13 |  | $4 |  | $84 |  | $36 |
Other current liabilities | 143 |  | 103 |  | 136 |  | 59 |  | 142 |  | 257 |
Total current liabilities | $159 |  | $122 |  | $149 |  | $63 |  | $226 |  | $293 |
Non-current financial liabilities (excluding trade, other payables & provisions) | 68 |  | 42 |  | — |  | — |  | 134 |  | 125 |
Other non-current liabilities | 709 |  | 653 |  | 14 |  | 12 |  | 529 |  | 545 |
Total non-current liabilities | $777 |  | $695 |  | $14 |  | $12 |  | $663 |  | $670 |
Total liabilities | $936 |  | $817 |  | $163 |  | $75 |  | $889 |  | $963 |
Net assets | $4,788 |  | $4,817 |  | $519 |  | $493 |  | $1,806 |  | $1,823 |
1 Kibali cash and equivalents are subject to various 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. 2Zaldívar other current assets include inventory of $384 million (2020: $323 million). The 2020 figures have been updated to reflect a $284 million reclassification of short-term inventory to long-term inventory.
Schedule of reconciliation of summarized financial information to carrying value of equity investee |
Reconciliation of Summarized Financial Information to Carrying Value |  |  |
| Kibali | Jabal Sayid | Zaldívar
Opening net assets | $4,817 |  | $493 |  | $1,823 |
Income for the period | 432 |  | 318 |  | 138 |
Dividends received from equity investees | (461) |  | (292) |  | (285) |
Dividends declared in prior year and received in current year | — |  | — |  | 130 |
Closing net assets, December 31 | $4,788 |  | $519 |  | $1,806 |
Barrick's share of net assets | 2,156 |  | 259 |  | 903 |
Equity earnings adjustment | — |  | — |  | (10) |
Goodwill recognition | 1,111 |  | 123 |  | — |
Carrying value | $3,267 |  | $382 |  | $893 |

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