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Segmented information | 12 Months Ended
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Dec. 31, 2020
Disclosure Of Operating Segments [Abstract] |
Segmented information | 28. Segmented information Cameco has two reportable segments: uranium and fuel services. Cameco's reportable segments are strategic business units with different products, processes and marketing strategies. The uranium segment involves the exploration for, mining, milling, purchase and sale of uranium concentrate. The fuel ser vices segment involves the refining, conversion and fabrication of uranium concentrate and the purchase and sale of conversion services. Cost of sales in the uranium segment includes care and maintenance costs for our operations that currently have produc tion suspensions. Cameco expensed $195,972,000 (2019 - $153,924,000) of care and maintenance c osts during the year. Included in th is amount in 2020 is $45,988,000 relating to care and maintenance costs for operations suspended as a result of COVID-19. Also included in cost of sales, because of the Cigar Lake production suspension, is the impact of increased purchasing activity at a higher cost than produced pounds. This had a negative impact on gross profit in the uranium segment. Cost of sales in the fuel services segment also includes care and maintenance costs for our operations that have had production suspensions as a result of COVID-19. Cameco expensed $8,992,000 in 2020 due to the suspension. Accounting policies used in ea ch segment are consistent with the policies outlined in the summary of significant accounting policies. Segment revenues, expenses and results include transactions between segments incurred in the ordinary course of business. These transactions are priced on an arm’s length basis, are eliminated on consolidation and are reflected in the “other” column.
A. Business segments - 2020 |  |  |  |  |  |  |  |
For the year ended December 31, 2020 |  |  |  |  |  |  |  |
|  |  |  | Uranium |  | Fuel services |  | Other |  | Total
Revenue | $ | 1,411,770 | $ | 377,296 | $ | 11,007 | $ | 1,800,073
Expenses |  |  |  |  |  |  |  |
| Cost of products and services sold |  | 1,244,049 |  | 237,656 |  | 3,257 |  | 1,484,962
| Depreciation and amortization |  | 154,560 |  | 43,190 |  | 10,912 |  | 208,662
Cost of sales |  | 1,398,609 |  | 280,846 |  | 14,169 |  | 1,693,624
Gross profit (loss) |  | 13,161 |  | 96,450 |  | (3,162) |  | 106,449
| Administration |  | - |  | - |  | 145,344 |  | 145,344
| Exploration |  | 10,873 |  | - |  | - |  | 10,873
| Research and development |  | - |  | - |  | 3,965 |  | 3,965
| Other operating expense |  | 23,921 |  | - |  | - |  | 23,921
| Loss on disposal of assets |  | 667 |  | 405 |  | - |  | 1,072
| Finance costs |  | - |  | - |  | 96,133 |  | 96,133
| Gain on derivatives |  | - |  | - |  | (36,577) |  | (36,577)
| Finance income |  | - |  | - |  | (10,835) |  | (10,835)
| Share of earnings from equity-accounted investee |  | (36,476) |  | - |  | - |  | (36,476)
| Other income |  | (202) |  | - |  | (51,238) |  | (51,440)
Earnings (loss) before income taxes |  | 14,378 |  | 96,045 |  | (149,954) |  | (39,531)
| Income tax expense |  |  |  |  |  |  |  | 13,666
Net loss |  |  |  |  |  |  |  | (53,197)
Capital expenditures for the year | $ | 46,697 | $ | 30,760 | $ | 5 | $ | 77,462
For the year ended December 31, 2019 |  |  |  |  |  |  |  |
|  |  |  | Uranium |  | Fuel services |  | Other |  | Total
Revenue | $ | 1,413,809 | $ | 370,277 | $ | 78,839 | $ | 1,862,925
Expenses |  |  |  |  |  |  |  |
| Cost of products and services sold |  | 1,041,922 |  | 234,423 |  | 69,206 |  | 1,345,551
| Depreciation and amortization |  | 218,832 |  | 45,856 |  | 11,061 |  | 275,749
Cost of sales |  | 1,260,754 |  | 280,279 |  | 80,267 |  | 1,621,300
Gross profit (loss) |  | 153,055 |  | 89,998 |  | (1,428) |  | 241,625
| Administration |  | - |  | - |  | 124,869 |  | 124,869
| Exploration |  | 13,686 |  | - |  | - |  | 13,686
| Research and development |  | - |  | - |  | 6,058 |  | 6,058
| Other operating expense |  | 2,732 |  | - |  | - |  | 2,732
| Loss on disposal of assets |  | 1,869 |  | - |  | - |  | 1,869
| Finance costs |  | - |  | - |  | 98,622 |  | 98,622
| Gain on derivatives |  | - |  | - |  | (32,269) |  | (32,269)
| Finance income |  | - |  | - |  | (29,760) |  | (29,760)
| Share of earnings from equity-accounted investee |  | (45,360) |  | - |  | - |  | (45,360)
| Other expense (income) |  | (52,801) |  | - |  | 18,961 |  | (33,840)
Earnings (loss) before income taxes |  | 232,929 |  | 89,998 |  | (187,909) |  | 135,018
| Income tax expense |  |  |  |  |  |  |  | 61,077
Net earnings |  |  |  |  |  |  |  | 73,941
Capital expenditures for the year | $ | 48,092 | $ | 27,117 | $ | 2 | $ | 75,211
B. Geographic segments Revenue is attributed to the geographic location based on the location of the entity providing the services. The Company’s revenue from external customers is as follows:
|  | 2020 |  | 2019
United States | $ | 1,177,756 | $ | 1,295,195
Canada |  | 622,317 |  | 567,730
| $ | 1,800,073 | $ | 1,862,925
The Company’s non-current assets, excluding deferred tax assets and financial instruments, by geographic location
are as follows:
|  | 2020 |  | 2019
Canada | $ | 3,260,144 | $ | 3,267,376
Australia |  | 421,836 |  | 392,500
United States |  | 145,328 |  | 121,102
Kazakhstan |  | 55 |  | 80
Germany |  | 16 |  | 24
| $ | 3,827,379 | $ | 3,781,082
C. Major customer s Cameco relies on a small number of customers to purchase a significant portion of its uranium concentrates and uranium conversion services. During 2020, revenues from two customers of Cameco’s uranium and fuel services segments represented approximately $457,560,000 (2019 - $422,740,000), approximately 25% (2019 - 24%) of Cameco’s total revenues from these segments. As customers are relatively few in number, accounts receivable from any individual customer may peri odically exceed 10% of accounts receivable depending on delivery schedule.

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