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Segmented Information | 12 Months Ended
--- | ---
Dec. 31, 2024
Operating Segments [Abstract] |
Segmented Information | 33. Segmented Information Based on the primary products we produce, we have two reportable segments that we report to our President and Chief Executive Officer – copper and zinc. Corporate activities are not considered a reportable segment and are included as a reconciliation to total consolidated results. These corporate activities include all of our initiatives in other commodities and groups that provide administrative, technical, financial and other support to our reportable segments. Operating income (expense) – other includes 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 steelmaking coal business in July of 2024 and the sale of our 21.3% interest in Fort Hills and associated downstream assets in 2023, we no longer present the associated steelmaking coal and energy segments in the tables below. The segmented information related to the steelmaking coal business and Fort Hills are disclosed in Note 5, Sale of Steelmaking Coal Business and Discontinued Operations.
(CAD$ in millions) |  | 2024
|  | Copper |  | Zinc |  | Corporate |  | Total
Revenue (Note 7(a)) |  | $ | 5,542 |  |  | $ | 3,523 |  |  | $ | — |  |  | $ | 9,065 |
Cost of sales |  | (4,497) |  |  | (2,961) |  |  | — |  |  | (7,458) |
Gross profit |  | 1,045 |  |  | 562 |  |  | — |  |  | 1,607 |
Asset impairment (Note 9(a)) |  | — |  |  | (1,038) |  |  | (15) |  |  | (1,053) |
Operating income (expense) – other |  | 13 |  |  | 39 |  |  | (615) |  |  | (563) |
Profit (loss) from operations |  | 1,058 |  |  | (437) |  |  | (630) |  |  | (9) |
Finance income |  | 23 |  |  | 1 |  |  | 210 |  |  | 234 |
Finance expense |  | (687) |  |  | (66) |  |  | (200) |  |  | (953) |
Non-operating income (expense) |  | (94) |  |  | 6 |  |  | 95 |  |  | 7 |
Share of profit of joint venture |  | 3 |  |  | — |  |  | — |  |  | 3 |
Profit (loss) before taxes from continuing operations |  | 303 |  |  | (496) |  |  | (525) |  |  | (718) |
Depreciation and amortization |  | (1,356) |  |  | (309) |  |  | (61) |  |  | (1,726) |
Capital expenditures from continuing operations |  | 2,267 |  |  | 345 |  |  | 23 |  |  | 2,635 |
|  | December 31, 2024
Goodwill (Note 19) |  | 442 |  |  | — |  |  | — |  |  | 442 |
Total assets |  | $ | 34,433 |  |  | $ | 4,187 |  |  | $ | 8,417 |  |  | $ | 47,037 |
33. Segmented Information (continued)
(CAD$ in millions) |  | 2023
|  | Copper |  | Zinc |  | Corporate |  | Total
Revenue (Note 7(a)) |  | $ | 3,425 |  |  | $ | 3,051 |  |  | $ | — |  |  | $ | 6,476 |
Cost of sales |  | (2,713) |  |  | (2,651) |  |  | — |  |  | (5,364) |
Gross profit |  | 712 |  |  | 400 |  |  | — |  |  | 1,112 |
Operating income (expense) – other |  | 56 |  |  | (86) |  |  | (860) |  |  | (890) |
Profit (loss) from operations |  | 768 |  |  | 314 |  |  | (860) |  |  | 222 |
Finance income |  | 23 |  |  | 1 |  |  | 86 |  |  | 110 |
Finance expense |  | (79) |  |  | (53) |  |  | (28) |  |  | (160) |
Non-operating income (expense) |  | (190) |  |  | — |  |  | (59) |  |  | (249) |
Share of profit of joint venture |  | 2 |  |  | — |  |  | — |  |  | 2 |
Profit (loss) before taxes from continuing operations |  | 524 |  |  | 262 |  |  | (861) |  |  | (75) |
Depreciation and amortization |  | (553) |  |  | (308) |  |  | (64) |  |  | (925) |
Capital expenditures from continuing operations |  | 4,018 |  |  | 298 |  |  | 24 |  |  | 4,340 |
|  | December 31, 2023
Goodwill from continuing operations |  | 406 |  |  | — |  |  | — |  |  | 406 |
Goodwill from discontinued operations – Unallocated |  | — |  |  | — |  |  | — |  |  | 702 |
Goodwill (Note 19) |  | 406 |  |  | — |  |  | — |  |  | 1,108 |
Total assets from continuing operations |  | 28,636 |  |  | 4,581 |  |  | 3,595 |  |  | 36,812 |
Total assets from discontinued operations – Unallocated |  | — |  |  | — |  |  | — |  |  | 19,381 |
Total assets |  | $ | 28,636 |  |  | $ | 4,581 |  |  | $ | 3,595 |  |  | $ | 56,193 |
Goodwill from discontinued operations and total assets from discontinued operations were unallocated to a segment, as they were derecognized as part of the sale of the steelmaking coal business in 2024 (Note 5). The geographical distribution of all our non-current assets in 2024 and 2023, other than financial instruments, deferred tax assets and post-employment benefit assets, is as follows:
(CAD$ in millions) |  | December 31, 2024 |  | December 31, 2023
Canada |  | $ | 3,185 |  |  | $ | 21,678 |
Chile |  | 24,497 |  |  | 22,400 |
United States |  | 2,485 |  |  | 2,202 |
Peru |  | 2,381 |  |  | 2,050 |
Mexico |  | 219 |  |  | 165 |
Other |  | 35 |  |  | 36 |
|  | $ | 32,802 |  |  | $ | 48,531 |

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