33. Segment information

Identification of reportable segments

The Company has identified its operating segments based on the internal reports that are reviewed and used by the chief executive officer and the executive management (the chief operating decision makers or "CODM") in assessing performance and in determining the allocation of resources.

The CODM consider the business from both a geographic and product perspective and assess the performance of the operating segments based on measures of profit and loss as well as assets and liabilities. These measures include earnings from mine operations, expenditures on exploration, property, plant and equipment and non-current assets, as well as total debt. As at December 31, 2019, Eldorado had six reportable segments based on the geographical location of mining and exploration and development activities.

Geographical segments

Geographically, the operating segments are identified by country and by operating mine. The Turkey reporting segment includes the Kişladağ and the Efemçukuru mines and exploration activities in Turkey. The Canada reporting segment includes the Lamaque mine and exploration activities in Canada. The Greece reporting segment includes the Olympias and Stratoni mines, the Skouries, Perama Hill and Sapes projects and exploration activities in Greece. The Romania reporting segment includes the Certej project and exploration activities in Romania. The Brazil reporting segment includes the Vila Nova mine, Tocantinzinho project and exploration activities in Brazil. Other reporting segment includes operations of Eldorado’s corporate office and exploration activities in other countries.

33. Segment information (continued)

Financial information about each of these operating segments is reported to the CODM on a monthly basis. The mines in each of the different reporting segments share similar economic characteristics and have been aggregated accordingly.



2019	Turkey			Canada			Greece			Romania			Brazil			Other		Total

Earnings and loss information
Revenue	$	352,385		$	125,282		$	140,156		$	—		$	—		$	—	$	617,823
Production costs	137,080			50,733			147,026			—			—			—		334,839
Depreciation and amortization	63,949			47,659			41,510			—			—			—		153,118
Earnings (loss) from mine operations	$	151,356		$	26,890		$	(48,380	)	$	—		$	—		$	—	$	129,866

Other significant items of income and expense
Reversal of impairment (note 12)	$	(85,224	)	$	—		$	—		$	—		$	(11,690	)	$	—	$	(96,914	)
Write-down of assets	105			—			6,177			16			—			—		6,298
Exploration and evaluation expenses	2,593			1,905			3,223			4,887			381			1,654		14,643
Income tax expense (recovery)	57,518			(2,727		)	(14,305		)	(1,110		)	249			146		39,771

Capital expenditure information
Additions to property, plant and equipment during the period (*)	$	62,887		$	75,328		$	39,349		$	24		$	3,476		$	39	$	181,103
Capitalized interest	—			3,848			—			—			—			—		3,848

Information about assets and liabilities
Property, plant and equipment	$	791,354		$	606,274		$	2,067,719		$	415,150		$	204,419		$	3,286	$	4,088,202
Goodwill	—			92,591			—			—			—			—		92,591
	$	791,354		$	698,865		$	2,067,719		$	415,150		$	204,419		$	3,286	$	4,180,793

Debt, including current portion	$	—		$	—		$	—		$	—		$	—		$	479,732	$	479,732

* Presented on an accrual basis, net of pre-commercial production proceeds and excludes asset retirement adjustments.

33. Segment information (continued)



2018	Turkey		Canada			Greece			Romania			Brazil		Other			Total

Earnings and loss information
Revenue	$	348,528	$	—		$	110,488		$	—		$	—	$	—		$	459,016
Production costs	174,081		—			95,364			—			—		—			269,445
Depreciation and amortization	75,854		—			29,424			—			—		454			105,732
Earnings (loss) from mine operations	$	98,593	$	—		$	(14,300	)	$	—		$	—	$	(454	)	$	83,839

Other significant items of income and expense
Impairment loss on property, plant and equipment	$	117,570	$	—		$	330,238		$	—		$	—	$	—		$	447,808
Exploration and evaluation expenses	840		103			15,947			13,499			1,728		1,725			33,842
Income tax expense (recovery)	45,238		(3,415		)	(129,213		)	(2,716		)	3,608		—			(86,498		)

Capital expenditure information
Additions to property, plant and equipment during the period (*)	$	68,737	$	189,867		$	61,716		$	419		$	6,612	$	802		$	328,153
Capitalized interest	—		13,160			23,590			—			—		—			36,750

Information about assets and liabilities
Property, plant and equipment	$	721,449	$	582,895		$	2,063,798		$	416,197		$	203,075	$	1,062		$	3,988,476
Goodwill	—		92,591			—			—			—		—			92,591
	$	721,449	$	675,486		$	2,063,798		$	416,197		$	203,075	$	1,062		$	4,081,067

Debt	$	—	$	—		$	—		$	—		$	—	$	595,977		$	595,977

* Presented on an accrual basis, net of pre-commercial production proceeds and excludes asset retirement adjustments.

The Turkey segment derives its revenues from sales of gold and silver. The Greece segment derives its revenue from sales of gold, silver, zinc and lead concentrates. The Canadian segment derives its revenue from sales of gold and silver. For the year ended December 31, 2019, revenue from two customers of the Company’s Turkey segment represents approximately $280,092 of the Company’s total revenue. Revenue from one customer of the Company’s Canadian segment represents approximately $122,160 of the Company’s total revenue.