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DEFERRED INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
Income tax [Abstract] |
Schedules of deferred income tax assets and liabilities | Sources of Deferred Income Tax Assets and Liabilities
| As at December 31, 2023 | As at December 31, 2022
Deferred tax assets |  |
Tax loss carryforwards | $292 |  | $307 |
Tax credits | 58 |  | — |
Environmental rehabilitation | 270 |  | 205 |
Post-retirement benefit obligations and other employee benefits | 17 |  | 31 |
Other working capital | 115 |  | 85 |
Other | 10 |  | 10 |
| $762 |  | $638 |
Deferred tax liabilities |  |
Property, plant and equipment | (3,748) |  | (3,476) |
Inventory | (446) |  | (389) |
Accrued interest payable | (7) |  | (1) |
| ($3,439) |  | ($3,228) |
Classification: |  |
Non-current assets | $— |  | $19 |
Non-current liabilities | (3,439) |  | (3,247) |
| ($3,439) |  | ($3,228) |
Expiry Dates of Tax Losses
| 2024 | 2025 | 2026 | 2027 | 2028+ | No expiry date | Total |
Non-capital tax losses 1 |  |  |  |  |  |  |  |
Barbados | $212 |  | $218 |  | $2 |  | $119 |  | $10 |  | $— |  | $561 |  |
Canada |  | 2 |  | 1 |  | 69 |  | 2,133 |  | — |  | 2,205 |  |
Chile | — |  | — |  | — |  | — |  | — |  | 1,048 |  | 1,048 |  |
Peru | — |  | — |  | — |  | — |  | — |  | 100 |  | 100 |  |
Saudi Arabia | — |  | — |  | — |  | — |  | — |  | 330 |  | 330 |  |
Tanzania | — |  | — |  | — |  | — |  | — |  | 1,108 |  | 1,108 |  |
United Kingdom | — |  | — |  | — |  | — |  | — |  | 165 |  | 165 |  |
Others | 1 |  | 1 |  | 1 |  | 36 |  | 62 |  | 45 |  | 146 |  |
| $213 |  | $221 |  | $4 |  | $224 |  | $2,205 |  | $2,796 |  | $5,663 |  |
1 Represents the gross amount of tax loss carryforwards translated at closing exchange rates at December 31, 2023. Deferred Tax Assets Not Recognized
| As at December 31, 2023 | As at December 31, 2022
Argentina | $— |  | $154 |
Australia | 303 |  | 306 |
Barbados | 31 |  | 53 |
Canada | 904 |  | 954 |
Chile | 1,109 |  | 1,084 |
Côte d'Ivoire | 8 |  | 6 |
Mali | 10 |  | 9 |
Peru | 67 |  | 65 |
Saudi Arabia | 67 |  | 65 |
Tanzania | 110 |  | 109 |
United Kingdom | 41 |  | 22 |
United States | 26 |  | 15 |
Others | 12 |  | 4 |
| $2,688 |  | $2,846 |
Source of Changes in Deferred Tax Balances
For the years ended December 31 | 2023 | 2022
Temporary differences |  |
Property, plant and equipment | ($272) |  | $80 |
Environmental rehabilitation | 64 |  | (56) |
Tax loss carryforwards | (14) |  | (23) |
AMT and other tax credits | 58 |  | (10) |
Inventory | (58) |  | 27 |
Other | 11 |  | 18 |
| ($211) |  | $36 |
Intraperiod allocation to: |  |
Income before income taxes | ($181) |  | $41 |
Derecognition of Porgera´s joint operation | (29) |  | — |
Income tax payable | 2 |  | (2) |
Other comprehensive income | (3) |  | (5) |
Other | — |  | 2 |
| ($211) |  | $36 |
Income Tax Related Contingent Liabilities
| 2023 | 2022
At January 1 | $60 |  | $257 |
Additions based on uncertain tax positions related to prior years | 1 |  | 1 |
Additions based on uncertain tax positions related to the current year | 5 |  | 7 |
Reductions for tax positions of prior years | (18) |  | (45) |
Reclassifications 1 | — |  | (160) |
At December 31 2 | $48 |  | $60 |
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 $48 million would be recognized as a benefit to income taxes on the income statement, and therefore would impact the reported effective tax rate.
Schedule of tax years still under examination |
Tax Years Still Under Examination
Argentina | 2010-2011, 2016-2023
Australia | 2019-2023
Canada | 2016-2023
Chile | 2015-2023
Côte d'Ivoire | 2020-2023
Democratic Republic of Congo | 2022-2023
Dominican Republic | 2020-2023
Mali | 2017-2023
Papua New Guinea | 2023
Peru | 2018-2023
Saudi Arabia | 2019-2023
Tanzania | 2018-2023
United States | 2023
Zambia | 2018-2023

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