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Segmented information | 12 Months Ended
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Dec. 31, 2022
Disclosure Of Operating Segments [Abstract] |
Segmented information | 29. 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 services 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 have had production suspensions as well as operational readiness costs for our operations that are resuming operations. Operational readiness costs include costs to complete critical projects, perform maintenance readiness checks, and recruit and train sufficient mine and mill personnel before beginning operations. Cameco expensed $ 218,439,000 of care and maintenance and operational readiness costs during the year (2021 - $ 209,556,000 of care and maintenance costs). Included in this amount in 2021 is $ 40,359,000 relating to care and maintenance costs for operations suspended as a result of COVID-19 and the related impact of increased purchasing activity at a higher cost than produced pounds. This had a negative impact on gross profit in the uranium segment. Accounting policies used in each segment are consistent with the policies outlined in the summary of significant accounting policies. A. Business segments - 2022 For the year ended December 31, 2022 Uranium Fuel services Other Total Revenue $ 1,480,146 $ 365,063 $ 22,794 $ 1,868,003 Expenses Cost of products and services sold 1,223,558 215,660 18,118 1,457,336 Depreciation and amortization 135,800 32,618 8,958 177,376 Cost of sales 1,359,358 248,278 27,076 1,634,712 Gross profit (loss) 120,788 116,785 (4,282) 233,291 Administration - - 172,029 172,029 Exploration 10,578 - - 10,578 Research and development - - 12,175 12,175 Other operating expense (income) 25,845 (2,901) - 22,944 (Gain) loss on disposal of assets 726 (212) - 514 Finance costs - - 85,728 85,728 Loss on derivatives - - 72,949 72,949 Finance income - - (37,499) (37,499) Share of earnings from equity-accounted investee (93,988) - - (93,988) Other income (22,802) - (74,132) (96,934) Earnings (loss) before income taxes 200,429 119,898 (235,532) 84,795 Income tax recovery (4,469) Net earnings 89,264 Capital expenditures for the year $ 101,547 $ 39,736 $ 2,198 $ 143,481 For the year ended December 31, 2021 Uranium Fuel services Other Total Revenue $ 1,054,993 $ 404,277 $ 15,714 $ 1,474,984 Expenses Cost of products and services sold 1,028,816 242,574 11,245 1,282,635 Depreciation and amortization 134,629 43,344 12,442 190,415 Cost of sales 1,163,445 285,918 23,687 1,473,050 Gross profit (loss) (108,452) 118,359 (7,973) 1,934 Administration - - 127,566 127,566 Exploration 8,016 - - 8,016 Research and development - - 7,168 7,168 Other operating income (8,407) - - (8,407) (Gain) loss on disposal of assets (2,886) 6,689 - 3,803 Finance costs - - 76,612 76,612 Gain on derivatives - - (12,529) (12,529) Finance income - - (6,804) (6,804) Share of earnings from equity-accounted investee (68,283) - - (68,283) Other expense (income) - 301 (21,654) (21,353) Earnings (loss) before income taxes (36,892) 111,369 (178,332) (103,855) Income tax recovery (1,201) Net loss (102,654) Capital expenditures for the year $ 72,786 $ 22,792 $ 3,206 $ 98,784 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: 2022 2021 Canada $ 994,534 $ 704,719 United States 873,469 770,265 $ 1,868,003 $ 1,474,984 The Company’s non-current assets, excluding deferred tax assets and financial instruments, by geographic location are as follows: 2022 2021 Canada $ 3,042,533 $ 3,100,285 Australia 397,678 395,223 United States 80,352 131,683 Kazakhstan 38 46 Germany 6 11 $ 3,520,607 $ 3,627,248 C. Major customers Cameco relies on a small number of customers to purchase a significant portion of its uranium concentrates and uranium conversion services. During 2022, revenues from one customer of Cameco’s uranium and fuel services segments represented approximately $ 227,846,000 (2021 - $ 166,068,000 ), approximately 12 % (2021 - 11 %) of Cameco’s total revenues from these segments. As customers are relatively few in number, accounts receivable from any individual customer may periodically exceed 10% of accounts receivable depending on delivery schedule.

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