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INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2023
Disclosure of joint ventures [abstract] |
Schedules of equity accounting method investments |
Equity Accounting Method Investment Continuity |  |  |  |  |  |  |
| Kibali | Jabal Sayid | Zaldívar | Porgera | Other | Total |
At January 1, 2022 | $3,267 |  | $382 |  | $893 |  | $— |  | $52 |  | $4,594 |  |
Equity pick-up from equity investees | 86 |  | 124 |  | 47 |  | — |  | 1 |  | 258 |  |
Dividends received from equity investees | (694) |  | (124) |  | (50) |  | — |  | (1) |  | (869) |  |
At December 31, 2022 | $2,659 |  | $382 |  | $890 |  | $— |  | $52 |  | $3,983 |  |
Investment in equity accounting method investment 1 | — |  | — |  | — |  | 703 |  | — |  | 703 |  |
Equity pick-up (loss) from equity investees | 145 |  | 102 |  | (16) |  | — |  | 1 |  | 232 |  |
Dividends received from equity investees | (180) |  | (93) |  | — |  | — |  | — |  | (273) |  |
Non-cash dividends received from equity investees 2 | (505) |  | — |  | — |  | — |  | — |  | (505) |  |
Shareholder loan repayment | — |  | — |  | — |  | — |  | (7) |  | (7) |  |
At December 31, 2023 | $2,119 |  | $391 |  | $874 |  | $703 |  | $46 |  | $4,133 |  |
1 Refer to note 4. 2 Non-cash dividend distributed as JV receivable. Refer to note 18 and note 22.
Summarized Equity Investee Financial Information |  |  |  |  |
| Kibali | Jabal Sayid | Zaldívar |
For the years ended December 31 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 |
Revenue | $1,488 |  | $1,328 |  | $492 |  | $539 |  | $720 |  | $781 |  |
Cost of sales (excluding depreciation) | 593 |  | 528 |  | 167 |  | 170 |  | 545 |  | 463 |  |
Depreciation | 322 |  | 390 |  | 48 |  | 49 |  | 162 |  | 147 |  |
Finance expense (income) | 14 |  | — |  | 1 |  | — |  | 11 |  | 1 |  |
Other expense (income) | 90 |  | 104 |  | 1 |  | 4 |  | 6 |  | 32 |  |
Income before income taxes | $469 |  | $306 |  | $275 |  | $316 |  | ($4) |  | $138 |  |
Income tax expense | (154) |  | (121) |  | (71) |  | (67) |  | (29) |  | (44) |  |
Net income | $315 |  | $185 |  | $204 |  | $249 |  | ($33) |  | $94 |  |
Total comprehensive income | $315 |  | $185 |  | $204 |  | $249 |  | ($33) |  | $94 |  |
Net income (net of non-controlling interests) | $290 |  | $172 |  | $204 |  | $249 |  | ($33) |  | $94 |  |
Summarized Balance Sheet |  |  |  |  |  |  |
| Kibali | Jabal Sayid | Zaldívar | Porgera 2
For the years ended December 31 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023
Cash and equivalents | $123 |  | $92 |  | $97 |  | $77 |  | $38 |  | $72 |  | $1 |
Other current assets 1 | 225 |  | 194 |  | 143 |  | 151 |  | 571 |  | 559 |  | 182 |
Total current assets | $348 |  | $286 |  | $240 |  | $228 |  | $609 |  | $631 |  | $183 |
Non-current assets | 3,896 |  | 3,905 |  | 402 |  | 405 |  | 2,014 |  | 2,013 |  | 2,837 |
Total assets | $4,244 |  | $4,191 |  | $642 |  | $633 |  | $2,623 |  | $2,644 |  | $3,020 |
Current financial liabilities (excluding trade, other payables & provisions) | $307 |  | $13 |  | $2 |  | $9 |  | $86 |  | $90 |  | $14 |
Other current liabilities | 149 |  | 126 |  | 90 |  | 95 |  | 121 |  | 125 |  | 29 |
Total current liabilities | $456 |  | $139 |  | $92 |  | $104 |  | $207 |  | $215 |  | $43 |
Non-current financial liabilities (excluding trade, other payables & provisions) | 771 |  | 51 |  | 4 |  | 4 |  | 50 |  | 87 |  | 7 |
Other non-current liabilities | 820 |  | 785 |  | 9 |  | 6 |  | 599 |  | 542 |  | 733 |
Total non-current liabilities | $1,591 |  | $836 |  | $13 |  | $10 |  | $649 |  | $629 |  | $740 |
Total liabilities | $2,047 |  | $975 |  | $105 |  | $114 |  | $856 |  | $844 |  | $783 |
Net assets | $2,197 |  | $3,216 |  | $537 |  | $519 |  | $1,767 |  | $1,800 |  | $2,237 |
Net assets (net of non-controlling interests) | $2,015 |  | $3,095 |  | $537 |  | $519 |  | $1,767 |  | $1,800 |  | $2,237 |
1 Zaldívar other current assets include inventory of $448 million (2022: $443 million). 2Refer to note 4.
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 | Porgera 1
Opening net assets (net of non-controlling interests) | $3,095 |  | $519 |  | $1,800 |  | $— |
Investment in equity accounting method investment | — |  | — |  | — |  | 2,237 |
Income for the period (net of non-controlling interests) | 290 |  | 204 |  | (33) |  | — |
Dividends received from equity investees | (360) |  | (186) |  | — |  | — |
Non-cash dividends received from equity investees | (1,010) |  | — |  | — |  |
Closing net assets (net of non-controlling interests), December 31 | $2,015 |  | $537 |  | $1,767 |  | $2,237 |
Barrick's share of net assets | 1,008 |  | 268 |  | 884 |  | 703 |
Equity earnings adjustment | — |  | — |  | (10) |  | — |
Goodwill recognition | 1,111 |  | 123 |  | — |  | — |
Carrying value | $2,119 |  | $391 |  | $874 |  | $703 |
1Refer to note 4.

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