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OPERATING SEGMENTS | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
OPERATING SEGMENTS | OPERATING SEGMENTS The Company currently has four producing mines and a portfolio of precious and base metal dominant projects. Each individual operating mine site and the Company's exploration, evaluation and development properties are considered reportable segments. Operating results of 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. The following tables provide a summary of financial information related to the Company's segments (in thousands):
|  | Year Ended December 31, 2022
|  | Çöpler |  | Marigold |  | Seabee |  | Puna |  | Exploration, evaluation and development properties |  | Corporate and other (1) |  | Total
Revenue | $ | 355,070 |  | $ | 348,817 |  | $ | 244,692 |  | $ | 199,454 |  | $ | — |  | $ | — |  | $ | 1,148,033 |
Cost of sales (2) | $ | 189,825 |  | $ | 206,014 |  | $ | 74,679 |  | $ | 137,424 |  | $ | — |  | $ | — |  | $ | 607,942 |
Depletion, depreciation and amortization | $ | 76,628 |  | $ | 34,255 |  | $ | 49,445 |  | $ | 21,119 |  | $ | — |  | $ | — |  | $ | 181,447 |
Exploration, evaluation and reclamation costs | $ | 3,684 |  | $ | 3,746 |  | $ | 14,104 |  | $ | 7,098 |  | $ | 22,465 |  | $ | 1,749 |  | $ | 52,846 |
Care and maintenance (3) | $ | 41,800 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 41,800 |
Operating income (loss) | $ | 40,340 |  | $ | 104,802 |  | $ | 106,453 |  | $ | 33,546 |  | $ | (21,839) |  | $ | (73,034) |  | $ | 190,268 |
Capital expenditures | $ | 35,729 |  | $ | 58,795 |  | $ | 38,193 |  | $ | 10,446 |  | $ | — |  | $ | — |  | $ | 143,163 |
Total assets as of December 31, 2022 | $ | 2,465,066 |  | $ | 630,795 |  | $ | 581,574 |  | $ | 315,059 |  | $ | 857,709 |  | $ | 404,454 |  | $ | 5,254,657 |
(1)Corporate and other consists of business activities that are not included within the reportable segments and provided for reconciliation purposes. (2)Excludes depreciation, depletion, and amortization. (3)Care and maintenance expense represents direct costs and depreciation incurred at Çöpler during the temporary suspension of operations in the third quarter of 2022.
|  | Year Ended December 31, 2021
|  | Çöpler |  | Marigold |  | Seabee |  | Puna |  | Exploration, evaluation and development properties |  | Corporate and other (1) |  | Total
Revenue | $ | 607,887 |  | $ | 426,391 |  | $ | 213,860 |  | $ | 226,061 |  | $ | — |  | $ | — |  | $ | 1,474,199 |
Cost of sales (2) | $ | 264,889 |  | $ | 219,035 |  | $ | 66,354 |  | $ | 121,096 |  | $ | — |  | $ | — |  | $ | 671,374 |
Depletion, depreciation and amortization | $ | 125,220 |  | $ | 35,410 |  | $ | 45,334 |  | $ | 21,995 |  | $ | — |  | $ | — |  | $ | 227,959 |
Exploration. evaluation, and reclamation costs | $ | 10,868 |  | $ | 2,979 |  | $ | 11,867 |  | $ | 1,764 |  | $ | 13,027 |  | $ | 1,877 |  | $ | 42,382 |
Impairment of long-lived and other assets | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 20,275 |  | $ | — |  | $ | 20,275 |
Operating income (loss) | $ | 201,302 |  | $ | 169,070 |  | $ | 90,332 |  | $ | 79,043 |  | $ | (33,302) |  | $ | (62,070) |  | $ | 444,375 |
Capital expenditures | $ | 34,699 |  | $ | 55,861 |  | $ | 40,553 |  | $ | 10,458 |  | $ | — |  | $ | — |  | $ | 141,571 |
Total assets as of December 31, 2021 | $ | 2,290,367 |  | $ | 566,015 |  | $ | 479,370 |  | $ | 293,470 |  | $ | 923,204 |  | $ | 659,012 |  | $ | 5,211,438 |
(1)Corporate and other consists of business activities that are not included within the reportable segments and provided for reconciliation purposes. (2)Excludes depreciation, depletion, and amortization.
|  | Year Ended December 31, 2020
|  |  | Çöpler |  | Marigold |  | Seabee |  | Puna |  | Exploration, evaluation and development properties |  | Corporate and other (1) |  | Total
Revenue |  | $ | 205,535 |  | $ | 409,799 |  | $ | 135,230 |  | $ | 102,525 |  | $ | — |  | $ | — |  | $ | 853,089 |
Cost of sales (2) |  | $ | 121,614 |  | $ | 216,358 |  | $ | 40,575 |  | $ | 65,991 |  | $ | — |  | $ | — |  | $ | 444,538 |
Depletion, depreciation and amortization |  | $ | 33,793 |  | $ | 34,619 |  | $ | 28,341 |  | $ | 12,505 |  | $ | — |  | $ | — |  | $ | 109,258 |
Exploration, evaluation and reclamation costs |  | $ | 3,560 |  | $ | 3,742 |  | $ | 6,390 |  | $ | (373) |  | $ | 13,186 |  | $ | 538 |  | $ | 27,043 |
Care and maintenance expense (3) |  | $ | — |  | $ | — |  | $ | 13,644 |  | $ | 15,949 |  | $ | — |  | $ | — |  | $ | 29,593 |
Operating income (loss) |  | $ | 46,546 |  | $ | 154,645 |  | $ | 46,152 |  | $ | 6,937 |  | $ | (13,186) |  | $ | (52,819) |  | $ | 188,275 |
Capital expenditures |  | $ | 22,883 |  | $ | 55,567 |  | $ | 32,782 |  | $ | 10,962 |  | $ | — |  | $ | — |  | $ | 122,194 |
Total assets as of December 31, 2020 |  | $ | 2,254,320 |  | $ | 601,804 |  | $ | 454,484 |  | $ | 225,033 |  | $ | 1,018,801 |  | $ | 622,902 |  | $ | 5,177,344 |
(1)Corporate and other consists of business activities that are not included within the reportable segments and provided for reconciliation purposes. (2)Excludes depreciation, depletion, and amortization. (3)Care and maintenance expense consists of operating costs and depreciation incurred while a site is placed into care and maintenance or operating at reduced levels in response to the COVID-19 pandemic. Geographic area The following are non-current assets, excluding Goodwill, Restricted cash and Deferred income taxes, by location as of December 31 (in thousands):
| December 31,
| 2022 |  | 2021
Türkiye | $ | 3,064,482 |  |  | $ | 2,744,707 |
Canada |  | 311,937 |  |  |  | 292,264 |
United States |  | 321,423 |  |  |  | 307,857 |
Argentina |  | 127,661 |  |  |  | 123,834 |
Mexico |  | 536 |  |  |  | 48,345 |
Peru |  | 482 |  |  |  | 527 |
Total | $ | 3,826,521 |  |  | $ | 3,517,534 |
The following is revenue information by geographic area based on the location of production for the years ended December 31, (in thousands):
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Türkiye | $ | 355,070 |  |  | $ | 607,887 |  |  | $ | 205,535 |
Canada |  | 244,692 |  |  |  | 213,860 |  |  |  | 135,230 |
United States |  | 348,817 |  |  |  | 426,391 |  |  |  | 409,799 |
Argentina |  | 199,454 |  |  |  | 226,061 |  |  |  | 102,525 |
Total | $ | 1,148,033 |  |  | $ | 1,474,199 |  |  | $ | 853,089 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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