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Segmented Information | 12 Months Ended
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Dec. 31, 2022
Operating Segments [Abstract] |
Segmented Information | Segmented Information Based on the primary products we produce and our development projects, we have four reportable segments that we report to our Chief Executive Officer – copper, zinc, steelmaking coal and corporate. The corporate segment includes all of our initiatives in other commodities, our corporate growth activities and groups that provide administrative, technical, financial and other support to all of our business units. Other operating income (expenses) include general and administration, exploration, research and innovation and other operating income (expense). Sales between segments are carried out on terms that arm’s-length parties would use. Total assets do not include intra-group receivables between segments. Deferred tax assets have been allocated among segments. As a result of our announcement in 2022 to sell our 21.3% interest in Fort Hills and associated downstream assets, we have changed the composition of our reportable segments. Accordingly, the energy segment is no longer presented below, with information disclosed in Note 5, Assets Held for Sale and Discontinued Operations. We have also re-presented the previously reported segment information for the year ended December 31, 2021.
|  | December 31, 2022
(CAD$ in millions) |  | Copper |  | Zinc |  | Steelmaking Coal |  |  |  | Corporate |  | Total
Segment revenue |  | $ | 3,381 |  |  | $ | 4,181 |  |  | $ | 10,409 |  |  |  |  | $ | — |  |  | $ | 17,971 |
Less intra-segment revenue |  | — |  |  | (655) |  |  | — |  |  |  |  | — |  |  | (655) |
Revenue (Note 6(a)) |  | 3,381 |  |  | 3,526 |  |  | 10,409 |  |  |  |  | — |  |  | 17,316 |
Cost of sales |  | (1,982) |  |  | (2,755) |  |  | (4,008) |  |  |  |  | — |  |  | (8,745) |
Gross profit |  | 1,399 |  |  | 771 |  |  | 6,401 |  |  |  |  | — |  |  | 8,571 |
Other operating expense |  | (367) |  |  | (55) |  |  | (398) |  |  |  |  | (765) |  |  | (1,585) |
Profit (loss) from operations |  | 1,032 |  |  | 716 |  |  | 6,003 |  |  |  |  | (765) |  |  | 6,986 |
Net finance income (expense) |  | (248) |  |  | (38) |  |  | (86) |  |  |  |  | 222 |  |  | (150) |
Non-operating income (expense) |  | (185) |  |  | 9 |  |  | 35 |  |  |  |  | (134) |  |  | (275) |
Share of profit of associates and joint ventures |  | 4 |  |  | — |  |  | — |  |  |  |  | — |  |  | 4 |
Profit (loss) before taxes from continuing operations |  | 603 |  |  | 687 |  |  | 5,952 |  |  |  |  | (677) |  |  | 6,565 |
Capital expenditures from continuing operations |  | 3,910 |  |  | 370 |  |  | 1,167 |  |  |  |  | 18 |  |  | 5,465 |
Goodwill (Note 17) |  | 416 |  |  | — |  |  | 702 |  |  |  |  | — |  |  | 1,118 |
Total assets from continuing operations |  | $ | 23,801 |  |  | $ | 4,523 |  |  | $ | 18,070 |  |  |  |  | $ | 4,663 |  |  | $ | 51,057 |
Total assets from discontinued operations - Unallocated |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | 1,302 |
Total assets |  | $ | 23,801 |  |  | $ | 4,523 |  |  | $ | 18,070 |  |  |  |  | $ | 4,663 |  |  | $ | 52,359 |
29. Segmented Information (continued)
|  | December 31, 2021
(CAD$ in millions) |  | Copper |  | Zinc |  | Steelmaking Coal |  |  |  | Corporate |  | Total
Segment revenue |  | $ | 3,452 |  |  | $ | 3,574 |  |  | $ | 6,251 |  |  |  |  | $ | — |  |  | $ | 13,277 |
Less intra-segment revenue |  | — |  |  | (511) |  |  | — |  |  |  |  | — |  |  | (511) |
Revenue (Note 6(a)) |  | 3,452 |  |  | 3,063 |  |  | 6,251 |  |  |  |  | — |  |  | 12,766 |
Cost of sales |  | (1,711) |  |  | (2,375) |  |  | (3,466) |  |  |  |  | — |  |  | (7,552) |
Gross profit |  | 1,741 |  |  | 688 |  |  | 2,785 |  |  |  |  | — |  |  | 5,214 |
Impairment reversal (Note 8(a)) |  | 215 |  |  | — |  |  | — |  |  |  |  | — |  |  | 215 |
Other operating income (expense) |  | (14) |  |  | (41) |  |  | 153 |  |  |  |  | (544) |  |  | (446) |
Profit (loss) from operations |  | 1,942 |  |  | 647 |  |  | 2,938 |  |  |  |  | (544) |  |  | 4,983 |
Net finance income (expense) |  | (116) |  |  | (47) |  |  | (91) |  |  |  |  | 69 |  |  | (185) |
Non-operating income (expense) |  | (137) |  |  | 4 |  |  | — |  |  |  |  | 26 |  |  | (107) |
Share of loss of associates and joint ventures |  | (3) |  |  | — |  |  | — |  |  |  |  | — |  |  | (3) |
Profit (loss) before taxes from continuing operations |  | 1,686 |  |  | 604 |  |  | 2,847 |  |  |  |  | (449) |  |  | 4,688 |
Capital expenditures from continuing operations |  | 3,074 |  |  | 259 |  |  | 1,284 |  |  |  |  | 16 |  |  | 4,633 |
Goodwill (Note 17) |  | 389 |  |  | — |  |  | 702 |  |  |  |  | — |  |  | 1,091 |
Total assets |  | $ | 18,077 |  |  | $ | 4,401 |  |  | $ | 18,390 |  |  |  |  | $ | 6,500 |  |  | $ | 47,368 |
The geographical distribution of our non-current assets from continuing operations in 2022, and for all our non-current assets in 2021, other than financial instruments, deferred tax assets and post-employment benefit assets, is as follows:
(CAD$ in millions) |  | December 31, 2022 |  | December 31, 2021
Canada |  | $ | 20,104 |  |  | $ | 22,949 |
Chile |  | 19,206 |  |  | 13,771 |
United States |  | 1,787 |  |  | 1,788 |
Peru |  | 1,845 |  |  | 1,597 |
Other |  | 34 |  |  | 162 |
|  | $ | 42,976 |  |  | $ | 40,267 |

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