XML 118 R40.htm IDEA: XBRL DOCUMENT
v3.22.4

DEFERRED INCOME TAXES | 12 Months Ended
--- | ---
Dec. 31, 2022
Income tax [Abstract] |
Deferred Income Taxes | Deferred Income Taxes Recognition and Measurement We record deferred income tax assets and liabilities where temporary differences exist between the carrying amounts of assets and liabilities in our balance sheet and their tax bases. The measurement and recognition of deferred income tax assets and liabilities takes into account: substantively enacted rates that will apply when temporary differences reverse; interpretations of relevant tax legislation; estimates of the tax bases of assets and liabilities; and the deductibility of expenditures for income tax purposes. In addition, the measurement and recognition of deferred tax assets takes into account tax planning strategies. We recognize the effect of changes in our assessment of these estimates and factors when they occur. Changes in deferred income tax assets and liabilities are allocated between net income, other comprehensive income, equity and goodwill based on the source of the change. Current income taxes of $29 million have been provided in the year on the undistributed earnings of certain foreign subsidiaries. Our total income tax provision for these items as at December 31, 2022 is $41 million. Deferred income taxes have not been provided on the undistributed earnings of all other foreign subsidiaries for which we are able to control the timing of the remittance, and it is probable that there will be no remittance in the foreseeable future. These undistributed earnings amounted to $14,569 million as at December 31, 2022. Sources of Deferred Income Tax Assets and Liabilities
| As at December 31, 2022 | As at December 31, 2021
Deferred tax assets |  |
Tax loss carry forwards | $307 |  | $330 |
Tax credits | — |  | 10 |
Environmental rehabilitation | 205 |  | 262 |
Post-retirement benefit obligations and other employee benefits | 31 |  | 30 |
Other working capital | 85 |  | 68 |
Other | 10 |  | 5 |
| $638 |  | $705 |
Deferred tax liabilities |  |
Property, plant and equipment | (3,476) |  | (3,556) |
Inventory | (389) |  | (416) |
Accrued interest payable | (1) |  | 3 |
| ($3,228) |  | ($3,264) |
Classification: |  |
Non-current assets | $19 |  | $29 |
Non-current liabilities | (3,247) |  | (3,293) |
| ($3,228) |  | ($3,264) |
Expiry Dates of Tax Losses
| 2023 | 2024 | 2025 | 2026 | 2027+ | No expiry date | Total |
Non-capital tax losses 1 |  |  |  |  |  |  |  |
Australia | $— |  | $— |  | $— |  | $— |  | $— |  | $54 |  | $54 |  |
Barbados | 397 |  | 212 |  | 218 |  | 2 |  | 131 |  | — |  | 960 |  |
Canada | — |  | — |  | 1 |  | 1 |  | 2,349 |  | — |  | 2,351 |  |
Chile | — |  | — |  | — |  | — |  | — |  | 979 |  | 979 |  |
Papua New Guinea | — |  | — |  | — |  | — |  | 127 |  | 10 |  | 137 |  |
Saudi Arabia | — |  | — |  | — |  | — |  | — |  | 330 |  | 330 |  |
Tanzania | — |  | — |  | — |  | — |  | — |  | 1,199 |  | 1,199 |  |
United Kingdom | — |  | — |  | — |  | — |  | — |  | 117 |  | 117 |  |
Others | 2 |  | 2 |  | 1 |  | 38 |  | 2 |  | 9 |  | 54 |  |
| $399 |  | $214 |  | $220 |  | $41 |  | $2,609 |  | $2,698 |  | $6,181 |  |
1 Represents the gross amount of tax loss carry forwards translated at closing exchange rates at December 31, 2022. The non-capital tax losses include $5,165 million of losses which are not recognized in deferred tax assets. Of these, $399 million expire in 2023, $213 million expire in 2024, $221 million expire in 2025, $41 million expire in 2026, $2,482 million expire in 2027 or later, and $1,809 million have no expiry date. Recognition of Deferred Tax Assets We recognize deferred tax assets taking into account the effects of local tax law. Deferred tax assets are fully recognized when we conclude that sufficient positive evidence exists to demonstrate that it is probable that a deferred tax asset will be realized. The main factors considered are: •Historic and expected future levels of taxable income; •Tax plans that affect whether tax assets can be realized; and •The nature, amount and expected timing of reversal of taxable temporary differences. Levels of future income are mainly affected by: market gold, copper and silver prices; forecasted future costs and expenses to produce gold and copper; quantities of proven and probable gold and copper reserves; market interest rates; and foreign currency exchange rates. If these factors or other circumstances change, we record an adjustment to the recognition of deferred tax assets to reflect our latest assessment of the amount of deferred tax assets that is probable will be realized. Deferred Tax Assets Not Recognized
| As at December 31, 2022 | As at December 31, 2021
Argentina | $154 |  | $118 |
Australia | 306 |  | 302 |
Barbados | 53 |  | 27 |
Canada | 954 |  | 966 |
Chile | 1,084 |  | 1,059 |
Côte d'Ivoire | 6 |  | 6 |
Mali | 9 |  | 11 |
Peru | 65 |  | 79 |
Saudi Arabia | 65 |  | 71 |
Tanzania | 109 |  | 105 |
United Kingdom | 22 |  | 36 |
United States | 15 |  | — |
Others | 4 |  | 3 |
| $2,846 |  | $2,783 |
Deferred tax assets not recognized relate to: non-capital loss carry forwards of $1,168 million (2021: $1,048 million), capital loss carry forwards with no expiry date of $262 million (2021: $321 million), and other deductible temporary differences with no expiry date of $1,416 million (2021: $1,414 million).
Source of Changes in Deferred Tax Balances
For the years ended December 31 | 2022 | 2021
Temporary differences |  |
Property, plant and equipment | $80 |  | ($181) |
Environmental rehabilitation | (56) |  | (97) |
Tax loss carry forwards | (23) |  | (127) |
AMT and other tax credits | (10) |  | (3) |
Inventory | 27 |  | 48 |
Other | 18 |  | 32 |
| $36 |  | ($328) |
Intraperiod allocation to: |  |
Income before income taxes | $41 |  | ($345) |
Income tax payable | (2) |  | (2) |
Other comprehensive (income) loss | (5) |  | 19 |
Other | 2 |  | — |
| $36 |  | ($328) |
Income Tax Related Contingent Liabilities
| 2022 | 2021
At January 1 | $257 |  | $266 |
Additions based on uncertain tax positions related to prior years | 1 |  | 19 |
Additions based on uncertain tax positions related to the current year | 7 |  | — |
Reductions for tax positions of prior years | (45) |  | (28) |
Reclassifications 1 | (160) |  | — |
At December 31 2 | $60 |  | $257 |
1 Following the full implementation of the Framework Agreement in Tanzania, the agreed payment obligations are shown in current and long-term income tax payables. 2 If reversed, the total amount of $60 million would be recognized as a benefit to income taxes on the income statement, and therefore would impact the reported effective tax rate.
Tax Years Still Under Examination
Argentina | 2010-2011, 2015-2022
Australia | 2017-2022
Canada | 2015-2022
Chile | 2015-2022
Côte d'Ivoire | 2020-2022
Democratic Republic of Congo | 2021-2022
Dominican Republic | 2015-2022
Mali | 2017-2022
Papua New Guinea | 2006-2022
Peru | 2016-2022
Saudi Arabia | 2019-2022
Tanzania | 2018-2022
United States | 2022
Zambia | 2018-2022

X
- Definition Income tax + References No definition available. + Details
Name: | abx_IncomeTaxAbstract
Namespace Prefix: | abx_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of deferred taxes. [Refer: Deferred tax liabilities; Deferred tax assets] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_10_e&doctype=Standard -URIDate 2022-03-24 + Details
Name: | ifrs-full_DisclosureOfDeferredTaxesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration