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OPERATING SEGMENTS | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
OPERATING SEGMENTS | OPERATING SEGMENTS The Company has four producing mines which represent the Company’s reportable and operating segments. The results of operating segments are reviewed by management 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):
| Three Months Ended March 31, 2023
| Çöpler |  | Marigold |  | Seabee |  | Puna |  |  |  | Corporate and other (1) |  | Total
Revenue | $ | 110,513 |  | $ | 98,168 |  | $ | 32,093 |  | $ | 73,840 |  | $ |  |  | — |  | $ | 314,614 |
Cost of sales (2) | $ | 74,646 |  | $ | 54,541 |  | $ | 23,265 |  | $ | 46,845 |  | $ |  |  | — |  | $ | 199,297 |
Depletion, depreciation, and amortization | $ | 22,651 |  | $ | 8,574 |  | $ | 8,987 |  | $ | 6,883 |  | $ |  |  | — |  | $ | 47,095 |
Exploration, evaluation, and reclamation costs | $ | 984 |  | $ | 3,768 |  | $ | 4,159 |  | $ | 1,837 |  | $ |  |  | 1,950 |  | $ | 12,698 |
Operating income (loss) | $ | 11,496 |  | $ | 31,284 |  | $ | (4,318) |  | $ | 18,223 |  | $ |  |  | (19,700) |  | $ | 36,985 |
Capital expenditures | $ | 10,069 |  | $ | 29,592 |  | $ | 8,445 |  | $ | 2,577 |  | $ |  |  | — |  | $ | 50,683 |
Total assets as of March 31, 2023 | $ | 3,278,695 |  | $ | 697,817 |  | $ | 585,557 |  | $ | 326,660 |  | $ |  |  | 346,074 |  | $ | 5,234,803 |
(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.
| Three Months Ended March 31, 2022
| Çöpler |  | Marigold |  | Seabee |  | Puna |  |  |  | Corporate and other (1) |  | Total
Revenue | $ | 137,407 |  | $ | 68,893 |  | $ | 90,857 |  | $ | 58,289 |  | $ |  |  | — |  | $ | 355,446 |
Cost of sales (2) | $ | 62,584 |  | $ | 38,735 |  | $ | 16,410 |  | $ | 35,791 |  | $ |  |  | — |  | $ | 153,520 |
Depletion, depreciation, and amortization | $ | 30,513 |  | $ | 6,888 |  | $ | 15,379 |  | $ | 5,962 |  | $ |  |  | — |  | $ | 58,742 |
Exploration, evaluation, and reclamation costs | $ | 1,088 |  | $ | 3,841 |  | $ | 2,374 |  | $ | 481 |  | $ |  |  | 2,074 |  | $ | 9,858 |
Operating income (loss) | $ | 42,498 |  | $ | 19,428 |  | $ | 56,691 |  | $ | 15,906 |  | $ |  |  | (18,653) |  | $ | 115,870 |
Capital expenditures | $ | 6,870 |  | $ | 18,235 |  | $ | 12,914 |  | $ | 2,213 |  | $ |  |  | — |  | $ | 40,232 |
Total assets as of March 31, 2022 | $ | 2,971,752 |  | $ | 606,007 |  | $ | 524,023 |  | $ | 326,389 |  | $ |  |  | 784,492 |  | $ | 5,212,663 |
(1) Corporate and other consists of business activities that are not included within the reportable segments and provided for reconciliation purposes. During the first quarter of 2023, the Company determined it has four reportable segments: Çöpler, Marigold, Seabee and Puna. The exploration, evaluation and development properties are no longer considered a reportable segment and the portfolio of prospective exploration tenures, near or adjacent to the existing operations (near-mine) are included in the respective reportable segment and the greenfield standalone prospects are included in Corporate and other. (2) Excludes depreciation, depletion, and amortization. Geographic Area The following are non-current assets, excluding Goodwill, Restricted cash and Deferred income taxes, by location as of March 31, 2023 and December 31, 2022 (in thousands):
| March 31, 2023 |  | December 31, 2022
Türkiye | $ | 3,054,035 |  |  | $ | 3,064,482 |
Canada |  | 322,516 |  |  |  | 311,937 |
United States |  | 340,851 |  |  |  | 321,423 |
Argentina |  | 122,401 |  |  |  | 127,661 |
Mexico |  | 503 |  |  |  | 536 |
Peru |  | 488 |  |  |  | 482 |
Total | $ | 3,840,794 |  |  | $ | 3,826,521 |
The following is revenue information by geographic area based on the location for the three months ended March 31, 2023 and 2022 (in thousands):
| Three Months Ended March 31,
| 2023 |  | 2022
Türkiye | $ | 110,513 |  |  | $ | 137,407 |
Canada |  | 32,093 |  |  |  | 90,857 |
United States |  | 98,168 |  |  |  | 68,893 |
Argentina |  | 73,840 |  |  |  | 58,289 |
Total | $ | 314,614 |  |  | $ | 355,446 |

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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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