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Segmented Information | 12 Months Ended
--- | ---
Dec. 31, 2023
Operating Segments [Abstract] |
Segmented Information | 30. Segmented Information Based on the primary products we produce and our development projects, we have four reportable segments that we report to our President and 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 the sale of our 21.3% interest in Fort Hills and associated downstream assets, we no longer present the energy segment related to Fort Hills in the tables below. The segmented information related to Fort Hills is disclosed as part of Note 5, Assets Held for Sale and Discontinued Operations.
|  | 2023
(CAD$ in millions) |  | Copper |  | Zinc |  | Steelmaking Coal |  | Corporate |  | Total
Revenue (Note 7(a)) |  | $ | 3,425 |  |  | $ | 3,051 |  |  | $ | 8,535 |  |  | $ | — |  |  | $ | 15,011 |
Cost of sales |  | (2,713) |  |  | (2,651) |  |  | (4,504) |  |  | — |  |  | (9,868) |
Gross profit |  | 712 |  |  | 400 |  |  | 4,031 |  |  | — |  |  | 5,143 |
Other operating income (expense) |  | 56 |  |  | (86) |  |  | 201 |  |  | (944) |  |  | (773) |
Profit (loss) from operations |  | 768 |  |  | 314 |  |  | 4,232 |  |  | (944) |  |  | 4,370 |
Net finance income (expense) |  | (575) |  |  | (52) |  |  | (111) |  |  | 576 |  |  | (162) |
Non-operating income (expense) |  | (190) |  |  | — |  |  | (17) |  |  | (59) |  |  | (266) |
Share of profit of joint venture |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |
Profit (loss) before taxes from continuing operations |  | 5 |  |  | 262 |  |  | 4,104 |  |  | (427) |  |  | 3,944 |
Capital expenditures from continuing operations |  | 4,018 |  |  | 298 |  |  | 1,442 |  |  | 24 |  |  | 5,782 |
|  | December 31, 2023
Goodwill (Note 18) |  | 406 |  |  | — |  |  | 702 |  |  | — |  |  | 1,108 |
Total assets |  | $ | 28,636 |  |  | $ | 4,581 |  |  | $ | 19,364 |  |  | $ | 3,612 |  |  | $ | 56,193 |
30. Segmented Information (continued)
|  | 2022
(CAD$ in millions) |  | Copper |  | Zinc |  | Steelmaking Coal |  | Corporate |  | Total
Revenue (Note 7(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 income (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 joint venture |  | 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 |
|  | December 31, 2022
Goodwill (Note 18) |  | 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 |
The geographical distribution of all our non-current assets in 2023, and for our non-current assets that were not classified as held for sale in 2022, other than financial instruments, deferred tax assets and post-employment benefit assets, is as follows:
(CAD$ in millions) |  | December 31, 2023 |  | December 31, 2022
Canada |  | $ | 21,678 |  |  | $ | 20,104 |
Chile |  | 22,400 |  |  | 19,206 |
United States |  | 2,202 |  |  | 1,787 |
Peru |  | 2,050 |  |  | 1,845 |
Mexico |  | 165 |  |  | — |
Other |  | 36 |  |  | 34 |
|  | $ | 48,531 |  |  | $ | 42,976 |

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