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SEGMENTED INFORMATION | 12 Months Ended
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Dec. 31, 2017
Disclosure of operating segments [abstract] |
Disclosure of entity's operating segments [text block] | 20. Segmented information (a) Segment revenues and results The Company manages its reportable operating segments by operating mines, development projects and exploration projects. The results from operations for these reportable operating segments are summarized in the following tables:
Year ended December 31, 2017
(in millions of U.S. dollars) | Rainy River | New Afton | Mesquite | Cerro San Pedro | Corporate | Other(1) | Discontinued Operations(4) | Total
Operating segment results |  |  |  |  |  |  |  |
Gold revenues | 33.6 | 94.1 | 215.7 | 42.5 | - | - | - | 385.9
Copper revenues | - | 203.8 | - | - | - | - | - | 203.8
Silver revenues | 0.7 | 4.1 | - | 9.9 | - | - | - | 14.7
Total revenues(2) | 34.3 | 302.0 | 215.7 | 52.4 | - | - | - | 604.4
Operating expenses | 38.5 | 107.1 | 122.7 | 52.7 | - | - | - | 321.0
Depreciation and depletion | 14.1 | 139.3 | 60.2 | 6.7 | - | - | - | 220.3
Revenue less cost of goods sold | (18.3) | 55.6 | 32.8 | (7.0) | - | - | - | 63.1
Corporate administration | - | - | - | - | 23.7 | - | - | 23.7
Corporate restructuring | - | - | - | - | 4.2 | - | - | 4.2
Share-based payment expenses | - | - | - | - | 5.1 | - | - | 5.1
Asset impairment | 268.4 | - | - | - | - | - | - | 268.4
Exploration and business development | 2.2 | 1.4 | - | - | 0.6 | 2.2 | - | 6.4
(Loss) income from operations | (288.9) | 54.2 | 32.8 | (7.0) | (33.6) | (2.2) | - | (244.7)
Finance income | - | - | - | 0.2 | 0.9 | - | - | 1.1
Finance costs | (1.7) | (1.0) | (0.4) | (0.5) | (9.4) | (0.2) | - | (13.2)
Other gains (losses) (3) | 12.2 | 2.4 | (7.4) | (1.2) | 0.3 | 32.9 | - | 39.2
(Loss) earnings before taxes | (278.4) | 55.6 | 25.0 | (8.5) | (41.8) | 30.5 | - | (217.6)
Income tax recovery (expense) | 86.0 | (0.2) | 31.3 | (0.7) | 2.9 | (3.4) | - | 115.9
(Loss) earnings (from continuing operations | (192.4) | 55.4 | 56.3 | (9.2) | (38.9) | 27.1 | - | (101.7)
Loss from discontinued operations, net of tax | - | - | - | - | - | - | (6.3) | (6.3)
Net (loss) earnings | (192.4) | 55.4 | 56.3 | (9.2) | (38.9) | 27.1 | (6.3) | (108.0)
| 1. | Other includes balances relating to the development and exploration properties that have no revenues or operating costs.
| 2. | Segmented revenue reported above represents revenue generated from external customers. There were no inter-segment sales in the year ended December 31, 2017.
| 3. | Other gains (losses) include foreign exchange revaluation, and a $33.0 million net gain on the disposal of the El Morro stream.
| 4. | Refer to Note 16 for further information on discontinued operations.
Year ended December 31, 2016
(in millions of U.S. dollars) | Rainy River | New Afton | Mesquite | Cerro San Pedro | Corporate | Other(1) | Discontinued Operations(4) | Total
Operating segment results |  |  |  |  |  |  |  |
Gold revenues | - | 110.4 | 141.7 | 79.7 | - | - | - | 331.8
Copper revenues | - | 172.4 | - | - | - | - | - | 172.4
Silver revenues | - | 4.4 | - | 14.2 | - | - | - | 18.6
Total revenues(2) | - | 287.2 | 141.7 | 93.9 | - | - | - | 522.8
Operating expenses | - | 104.8 | 71.5 | 99.2 | - | - | - | 275.5
Depreciation and depletion(3) | - | 152.3 | 38.9 | 8.9 | - | - | - | 200.1
Revenue less cost of goods sold | - | 30.1 | 31.3 | (14.2) | - | - | - | 47.2
Corporate administration | - | - | - | - | 22.9 | - | - | 22.9
Share-based payment expenses | - | - | - | - | 8.3 | - | - | 8.3
Asset impairment | - | - | - | - | - | 6.4 | - | 6.4
Exploration and business development | - | 2.1 | 1.9 | - | 0.4 | (0.3) | - | 4.1
Income (loss) from operations | - | 28.0 | 29.4 | (14.2) | (31.6) | (6.1) | - | 5.5
Finance income | - | - | - | 0.7 | 0.7 | - | - | 1.4
Finance costs | - | (0.7) | (0.4) | (0.9) | (7.7) | (0.2) | - | (9.9)
Other gains (losses) | - | 5.3 | 5.5 | (6.7) | (21.8) | 10.0 | - | (7.7)
Earnings (loss) before taxes | - | 32.6 | 34.5 | (21.1) | (60.4) | 3.7 | - | (10.7)
Income tax recovery (expense)(3) | - | 21.9 | (0.1) | 5.5 | (2.7) | (22.5) | - | 2.1
Earnings (loss) from continuing operations | - | 54.5 | 34.4 | (15.6) | (63.1) | (18.8) | - | (8.6)
Earnings from discontinued operations, net of tax | - | - | - | - | - | - | 1.6 | 1.6
Net earnings (loss) | - | 54.5 | 34.4 | (15.6) | (63.1) | (18.8) | 1.6 | (7.0)
| 1. | Other includes balances relating to the development and exploration properties that have no revenues or operating costs.
| 2. | Segmented revenue reported above represents revenue generated from external customers. There were no inter-segment sales in the year ended December 31, 2016.
| 3. | Prior period comparatives have been revised as per note 5.
| 4. | Refer to Note 16 for further information on discontinued operations
(b) Segmented assets and liabilities The following table presents the segmented assets and liabilities:
| Total assets | Total liabilities | Capital expenditures(1)
| As at December 31 | As at December 31 | As at December 31 | As at December 31 | Year ended December 31
(in millions of U.S. dollars) | 2017 | 2016(3) | 2017 | 2016(3) | 2017 | 2016(3)
Segmented assets and liabilities |  |  |  |  |  |
Rainy River | 1,774.2 | 1,505.1 | 454.4 | 545.6 | 499.3 | 466.4
New Afton | 874.5 | 961.5 | 147.8 | 128.4 | 42.2 | 40.9
Mesquite | 482.3 | 513.3 | 96.3 | 139.9 | 12.8 | 35.6
Peak Mines | - | 170.9 | - | 64.4 | - | -
Cerro San Pedro | 43.9 | 60.5 | 26.7 | 29.8 | 0.7 | 1.0
Blackwater | 560.8 | 547.8 | 56.9 | 55.6 | 11.3 | 10.0
Other(2)(5) | 172.6 | 173.9 | 1,032.9 | 896.1 | 0.7 | 2.0
| 3,908.3 | 3,933.0 | 1,815.0 | 1,859.8 | 567.0 | 555.9
Assets and liabilities held for sale and capital expenditures from discontinued operations(4) | 109.0 | - | 62.8 | - | 34.7 | 11.1
Total assets, liabilities and capital expenditures | 4,017.3 | 3,933.0 | 1,877.8 | 1,859.8 | 601.7 | 567.0
| 1. | Capital expenditures per consolidated statement of cash flows.
| 2. | Other includes corporate balances, exploration properties and the El Morro gold stream asset.
| 3. | Prior-year period comparatives have been revised as per note 5.
| 4. | Refer to Note 16 for further information on assets and liabilities held for sale.
| 5. | Other includes Peak Mines’ cash and cash equivalents, which do not form part of the net assets held for sale.
(c) Geographical information The Company operates in four principal geographical areas - Canada (country of domicile), the United States, Australia, and Mexico. The Company's revenue by location of operations and information about the Company’s non-current assets by location of assets are detailed below for the years ended December 31, 2017 and 2016.
Revenue(1) | Non-current assets(2)
(in millions of U.S. dollars) | 2017 | 2016 | 2017 | 2016
Revenue and non-current assets by location |  |  |  |
Canada | 336.3 | 287.2 | 2,971.0 | 2,762.4
United States | 215.7 | 141.7 | 302.4 | 359.2
Australia(3) | - | - | 85.3 | 121.2
Mexico | 52.4 | 93.9 | 5.1 | 17.8
Other | - | - | 0.6 | 34.0
Total | 604.4 | 522.8 | 3,364.4 | 3,294.6
| 1. | Presented based on the location in which the sale originated.
| 2. | Non-current assets exclude financial instruments (investments, reclamation deposits and other) and deferred tax assets.
| 3. | For the years ended December 31, 2017 and 2016, revenue from Peak Mines is included in earnings from discontinued operations. As at December 31, 2017, the Company’s non-current assets held in Australia are classified as assets held-for-sale.
(d) Information about major customers The following table presents sales to individual customers exceeding 10% of annual sales for the following periods. The following three customers represent 79% (2016 – 71%) of the Company’s concentrate and doré sales revenue for the years ended December 31.
|  |  | Year ended December 31
(in millions of U.S. dollars) |  |  | 2017 | 2016
Customer | Reporting segment |  |  |  |
1 | Mesquite(1) |  |  | 210.8 | 138.7
| Rainy River(1) |  |  | 34.3 | -
| Cerro San Pedro (1) |  |  | 4.4 | 34.1
2 | New Afton |  |  | 125.5 | 99.8
3 | New Afton |  |  | 99.8 | 99.3
Total sales to customers exceeding 10% of annual sales(2) | 474.8 | 371.9
| 1. | Mesquite, Rainy River and Cerro San Pedro all sell to the same customer.
| 2. | Amounts presented exclude sales generated from Peak Mines, which has been classified as a discontinued operation for the year ended December 31, 2017.
The Company is not economically dependent on a limited number of customers for the sale of its product because gold and other metals can be sold through numerous commodity market traders worldwide. Refer to Note 22(a) for further discussion on the Company’s exposure to credit risk.

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