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SEGMENTED INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2019
SEGMENTED INFORMATION |
Schedule of operating segments | The Company manages its reportable operating segments by operating mines and development projects. Operating results of reportable operating segments are reviewed by the Company’s chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segments and to assess their performance. Effective January 1, 2019, Cerro San Pedro is in the reclamation phase of its mine life cycle. As a result, the Company has grouped Cerro San Pedro with the Company's development and exploration properties that have no revenues or operating costs. The segmented information for the twelve months ended December 31, 2018 has been restated to reflect the Company's reportable operating segments for the twelve months ended December 31, 2019. The results from operations for these reportable operating segments are summarized in the following tables:
|  | Year ended December 31, 2019
|  | Rainy |  | New |  |  |  |  |  |
(in millions of U.S. dollars) |  | River |  | Afton |  | Corporate |  | Other(1) |  | Total
OPERATING SEGMENT RESULTS |  |  |  |  |  |  |  |  |  |
Gold revenues |  | 354.2 |  | 80.2 |  | — |  | — |  | 434.4
Copper revenues |  | — |  | 187.3 |  | — |  | — |  | 187.3
Silver revenues |  | 4.7 |  | 4.2 |  | — |  | — |  | 8.9
Total revenues(2) |  | 358.9 |  | 271.7 |  | — |  | — |  | 630.6
Operating expenses |  | 258.4 |  | 113.5 |  | — |  | — |  | 371.9
Depreciation and depletion |  | 93.9 |  | 146.7 |  | — |  | — |  | 240.6
Revenue less cost of goods sold |  | 6.6 |  | 11.5 |  | — |  | — |  | 18.1
Corporate administration |  | — |  | — |  | 17.6 |  | — |  | 17.6
Corporate restructuring(3) |  | — |  | — |  | 1.1 |  | — |  | 1.1
Share-based payment expenses |  | — |  | — |  | 1.7 |  | — |  | 1.7
Exploration and business development |  | 1.4 |  | 3.1 |  | 1.1 |  | — |  | 5.6
(Loss) income from operations |  | 5.2 |  | 8.4 |  | (21.5) |  | — |  | (7.9)
| 1. |  | Other includes balances relating to Cerro San Pedro, 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, 2019.
| 3. |  | During 2019, the Company recognized restructuring charges of $1.1 million related to severance and other termination benefits.
|  | Year ended December 31, 2018
|  | Rainy |  | New |  |  |  |  |  |
(in millions of U.S. dollars) |  | River |  | Afton |  | Corporate |  | Other(1) |  | Total
OPERATING SEGMENT RESULTS |  |  |  |  |  |  |  |  |  |
Gold revenues |  | 270.6 |  | 83.8 |  | — |  | 13.8 |  | 368.2
Copper revenues |  | — |  | 226.1 |  | — |  | — |  | 226.1
Silver revenues |  | 3.8 |  | 4.2 |  | — |  | 2.2 |  | 10.2
Total revenues(2) |  | 274.4 |  | 314.1 |  | — |  | 16.0 |  | 604.5
Operating expenses |  | 179.9 |  | 104.3 |  | — |  | 41.2 |  | 325.4
Depreciation and depletion |  | 78.3 |  | 158.2 |  | — |  | 3.4 |  | 239.9
Revenue less cost of goods sold |  | 16.2 |  | 51.6 |  | — |  | (28.6) |  | 39.2
Corporate administration |  | — |  | — |  | 23.2 |  | — |  | 23.2
Corporate restructuring(3) |  | — |  | — |  | 4.1 |  | — |  | 4.1
Share-based payment expenses |  | — |  | — |  | 0.7 |  | — |  | 0.7
Asset impairment |  | 836.6 |  | — |  | — |  | 218.2 |  | 1,054.8
Exploration and business development |  | 0.5 |  | 0.5 |  | 1.9 |  | 0.1 |  | 3.0
(Loss) income from operations |  | (820.9) |  | 51.1 |  | (29.9) |  | (246.9) |  | (1,046.6)
| 1. |  | Other includes balances relating to Cerro san Pedro, 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, 2018.
| 3. |  | In 2018, the Company recognized a restructuring charge of approximately $4.1 million in severance and other termination benefits related to changes at the executive leadership level of the organization.
Schedule of segmented assets and liabilities | The following table presents the segmented assets and liabilities:
|  | Total assets |  | Total liabilities |  | Capital expenditures(1)
|  | As at |  | As at |  | As at |  | As at |  | Year ended
|  | December 31 |  | December 31 |  | December 31 |  | December 31 |  | December 31
(in millions of U.S. dollars) |  | 2019 |  | 2018 |  | 2019 |  | 2018 |  | 2019 |  | 2018
SEGMENTED ASSETS AND LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |
Rainy River |  | 1,078.4 |  | 986.0 |  | 334.9 |  | 313.6 |  | 185.9 |  | 170.6
New Afton |  | 647.7 |  | 730.9 |  | 89.8 |  | 73.8 |  | 61.8 |  | 35.9
Blackwater |  | 356.5 |  | 341.4 |  | 27.9 |  | 18.8 |  | 5.1 |  | 7.3
Other(2) |  | 75.9 |  | 111.3 |  | 744.6 |  | 818.9 |  | 0.5 |  | 0.1
|  | 2,158.5 |  | 2,169.6 |  | 1,197.2 |  | 1,225.1 |  | 253.3 |  | 213.9
Assets and liabilities held for sale and capital expenditures from discontinued operations (Note 16) |  | — |  | — |  | — |  | — |  | — |  | 13.2
Total assets, liabilities and capital expenditures |  | 2,158.5 |  | 2,169.6 |  | 1,197.2 |  | 1,225.1 |  | 253.3 |  | 227.1
1.Capital expenditures per consolidated statement of cash flows. 2.Other includes corporate balance, exploration properties and Cerro San Pedro.
Schedule of Information about major customers | The following table presents sales to individual customers exceeding 10% of annual sales for the following periods. The following five customers represent 89% (2018 – five customers representing 79%) of the Company’s sales revenue for the years ended December 31.
|  |  |  | Year ended December 31
(in millions of U.S. dollars) |  | 2019
CUSTOMER |  | REPORTING SEGMENT |  |
1 |  | Rainy River |  | 128.9
2 |  | Rainy River |  | 126.7
3 |  | Rainy River |  | 102.5
4 |  | New Afton |  | 100.9
5 |  | New Afton |  | 99.2
Total sales to customers exceeding 10% of annual sales |  | 558.2
|  |  |  | Year ended December 31
(in millions of U.S. dollars) |  | 2018
CUSTOMER |  | REPORTING SEGMENT |  |
1 |  | Rainy River |  | 137.9
2 |  | New Afton |  | 109.9
3 |  | New Afton |  | 94.2
4 |  | Rainy River |  | 78.0
5 |  | New Afton |  | 70.7
Total sales to customers exceeding 10% of annual sales |  | 490.7

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