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OPERATING SEGMENTS (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following tables provide a summary of financial information related to the Company's segments (in thousands):
| Year ended December 31, 2023
|  | Çöpler (3) |  |  | Marigold |  |  | Seabee |  |  | Puna |  |  | Segments Total |  |  | Corporate and other (1) |  |  | Consolidated
Revenue | $ | 442,417 |  |  | $ | 538,244 |  |  | $ | 164,346 |  |  | $ | 281,920 |  |  | $ | 1,426,927 |  |  | $ | — |  |  | $ | 1,426,927 |
Cost of sales (2) | $ | 268,628 |  |  | $ | 289,063 |  |  | $ | 82,898 |  |  | $ | 163,558 |  |  | $ | 804,147 |  |  | $ | — |  |  | $ | 804,147 |
Depreciation, depletion and amortization | $ | 93,808 |  |  | $ | 46,236 |  |  | $ | 40,533 |  |  | $ | 33,435 |  |  | $ | 214,012 |  |  | $ | — |  |  | $ | 214,012 |
Exploration, evaluation and reclamation costs | $ | 8,699 |  |  | $ | 15,059 |  |  | $ | 17,489 |  |  | $ | 10,196 |  |  | $ | 51,443 |  |  | $ | 7,440 |  |  | $ | 58,883 |
Impairment charges | $ | 353,322 |  |  | $ | — |  |  | $ | 49,786 |  |  | $ | 2,637 |  |  | $ | 405,745 |  |  | $ | 5,653 |  |  | $ | 411,398 |
Operating income (loss) | $ | (287,519) |  |  | $ | 187,886 |  |  | $ | (26,867) |  |  | $ | 71,848 |  |  | $ | (54,652) |  |  | $ | (75,592) |  |  | $ | (130,244) |
Capital expenditures | $ | 89,165 |  |  | $ | 82,252 |  |  | $ | 37,521 |  |  | $ | 13,193 |  |  | $ | 222,131 |  |  | $ | — |  |  | $ | 222,131 |
Total assets as of December 31, 2023 | $ | 2,915,262 |  |  | $ | 782,353 |  |  | $ | 464,033 |  |  | $ | 324,794 |  |  | $ | 4,486,442 |  |  | $ | 899,331 |  |  | $ | 5,385,773 |
(1)Corporate and other consists of business activities that are not included within the reportable segments and is provided for reconciliation purposes. (2)Excludes depreciation, depletion, and amortization. (3)Refer to Note 24 for information regarding t he Çöpler Incident.
| Year ended December 31, 2022
|  | Çöpler |  |  | Marigold |  |  | Seabee |  |  | Puna |  |  | Segments Total |  |  | Corporate and other (1) |  |  | Consolidated
Revenue | $ | 355,070 |  |  | $ | 348,817 |  |  | $ | 244,692 |  |  | $ | 199,454 |  |  | $ | 1,148,033 |  |  | $ | — |  |  | $ | 1,148,033 |
Cost of sales (2) | $ | 189,825 |  |  | $ | 206,014 |  |  | $ | 74,679 |  |  | $ | 137,424 |  |  | $ | 607,942 |  |  | $ | — |  |  | $ | 607,942 |
Depreciation, depletion and amortization | $ | 76,628 |  |  | $ | 34,255 |  |  | $ | 49,445 |  |  | $ | 21,119 |  |  | $ | 181,447 |  |  | $ | — |  |  | $ | 181,447 |
Exploration. evaluation, and reclamation costs | $ | 4,136 |  |  | $ | 18,182 |  |  | $ | 14,104 |  |  | $ | 7,098 |  |  | $ | 43,520 |  |  | $ | 9,326 |  |  | $ | 52,846 |
Care and maintenance (3) | $ | 41,800 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 41,800 |  |  | $ | — |  |  | $ | 41,800 |
Operating income (loss) | $ | 39,556 |  |  | $ | 90,365 |  |  | $ | 106,453 |  |  | $ | 33,547 |  |  | $ | 269,921 |  |  | $ | (79,653) |  |  | $ | 190,268 |
Capital expenditures | $ | 35,729 |  |  | $ | 58,795 |  |  | $ | 38,193 |  |  | $ | 10,446 |  |  | $ | 143,163 |  |  | $ | — |  |  | $ | 143,163 |
Total assets as of December 31, 2022 | $ | 3,298,757 |  |  | $ | 667,834 |  |  | $ | 581,574 |  |  | $ | 315,060 |  |  | $ | 4,863,225 |  |  | $ | 391,432 |  |  | $ | 5,254,657 |
(1)Corporate and other consists of business activities that are not included within the reportable segments and is 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. (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 |  |  | Segments Total |  |  | Corporate and other (1) |  |  | Consolidated
Revenue |  | $ | 607,887 |  |  | $ | 426,391 |  |  | $ | 213,860 |  |  | $ | 226,061 |  |  | $ | 1,474,199 |  |  | $ | — |  |  | $ | 1,474,199 |
Cost of sales (2) |  | $ | 264,889 |  |  | $ | 219,035 |  |  | $ | 66,354 |  |  | $ | 121,096 |  |  | $ | 671,374 |  |  | $ | — |  |  | $ | 671,374 |
Depreciation, depletion and amortization |  | $ | 125,220 |  |  | $ | 35,410 |  |  | $ | 45,334 |  |  | $ | 21,995 |  |  | $ | 227,959 |  |  | $ | — |  |  | $ | 227,959 |
Exploration, evaluation and reclamation costs |  | $ | 10,868 |  |  | $ | 10,968 |  |  | $ | 11,867 |  |  | $ | 1,764 |  |  | $ | 35,467 |  |  | $ | 6,915 |  |  | $ | 42,382 |
Impairment charges |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 20,275 |  |  | $ | 20,275 |
Operating income (loss) |  | $ | 201,302 |  |  | $ | 161,081 |  |  | $ | 90,332 |  |  | $ | 79,042 |  |  | $ | 531,757 |  |  | $ | (87,382) |  |  | $ | 444,375 |
Capital expenditures |  | $ | 34,699 |  |  | $ | 55,861 |  |  | $ | 40,553 |  |  | $ | 10,458 |  |  | $ | 141,571 |  |  | $ | — |  |  | $ | 141,571 |
Total assets as of December 31, 2021 |  | $ | 3,099,240 |  |  | $ | 599,164 |  |  | $ | 479,370 |  |  | $ | 293,469 |  |  | $ | 4,471,243 |  |  | $ | 740,195 |  |  | $ | 5,211,438 |
(1)Corporate and other consists of business activities that are not included within the reportable segments and is 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.
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country | The following are non-current assets, excluding Goodwill, Restricted cash and Deferred income taxes, by location as of December 31 (in thousands):
| December 31,
| 2023 |  | 2022
Türkiye | $ | 3,386,380 |  |  | $ | 3,064,482 |
Canada |  | 320,922 |  |  |  | 311,937 |
United States |  | 355,375 |  |  |  | 321,423 |
Argentina |  | 104,313 |  |  |  | 127,661 |
Mexico |  | — |  |  |  | 536 |
Peru |  | — |  |  |  | 482 |
Total | $ | 4,166,990 |  |  | $ | 3,826,521 |
Schedule of Revenue from External Customers by Geographic Areas | The following is revenue information by geographic area based on the location of production for the years ended December 31, (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Türkiye | $ | 442,417 |  |  | $ | 355,070 |  |  | $ | 607,887 |
Canada |  | 164,346 |  |  |  | 244,692 |  |  |  | 213,860 |
United States |  | 538,244 |  |  |  | 348,817 |  |  |  | 426,391 |
Argentina |  | 281,920 |  |  |  | 199,454 |  |  |  | 226,061 |
Total | $ | 1,426,927 |  |  | $ | 1,148,033 |  |  | $ | 1,474,199 |

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