| Schedules of equity accounting method investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Equity Accounting Method Investment Continuity |
|
|
|
|
|
|
|
|
Kibali |
Jabal Sayid |
Zaldívar |
Porgera |
Other |
Total |
|
| At January 1, 2023 |
$2,659 |
|
$382 |
|
$890 |
|
$— |
|
$52 |
|
$3,983 |
|
|
Investment in equity accounting method investment1 |
— |
|
— |
|
— |
|
703 |
|
— |
|
703 |
|
|
| Equity pick-up (loss) from equity investees |
145 |
|
102 |
|
(16) |
|
— |
|
1 |
|
232 |
|
|
|
|
|
|
|
|
|
|
| Dividends received from equity investees |
(180) |
|
(93) |
|
— |
|
— |
|
— |
|
(273) |
|
|
Non-cash dividends received from equity investees2 |
(505) |
|
— |
|
— |
|
— |
|
— |
|
(505) |
|
|
| Shareholder loan repayment |
— |
|
— |
|
— |
|
— |
|
(7) |
|
(7) |
|
|
| At December 31, 2023 |
$2,119 |
|
$391 |
|
$874 |
|
$703 |
|
$46 |
|
$4,133 |
|
|
Investment in equity accounting method investment1 |
— |
|
— |
|
— |
|
7 |
|
— |
|
7 |
|
|
| Equity pick-up (loss) from equity investees |
108 |
|
119 |
|
1 |
|
22 |
|
(2) |
|
248 |
|
|
| Funds invested |
— |
|
— |
|
— |
|
55 |
|
4 |
|
59 |
|
|
| Dividends received from equity investees |
(88) |
|
(109) |
|
— |
|
— |
|
(1) |
|
(198) |
|
|
Non-cash dividends received from equity investees2 |
(124) |
|
— |
|
— |
|
— |
|
— |
|
(124) |
|
|
| Equity earnings adjustment |
— |
|
— |
|
— |
|
(7) |
|
— |
|
(7) |
|
|
| Shareholder loan repayment |
— |
|
— |
|
— |
|
— |
|
(6) |
|
(6) |
|
|
| At December 31, 2024 |
$2,015 |
|
$401 |
|
$875 |
|
$780 |
|
$41 |
|
$4,112 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1 Refer to note 4. 2 Includes a non-cash dividend distributed as JV receivable. Refer to note 18 and note 22.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summarized Equity Investee Financial Information |
|
|
|
|
|
|
| |
Kibali |
Jabal Sayid |
Zaldívar |
Porgera2 |
| For the years ended December 31 |
2024 |
2023 |
2024 |
2023 |
2024 |
2023 |
2024 |
2023 |
| Revenue |
$1,650 |
|
$1,488 |
|
$544 |
|
$492 |
|
$714 |
|
$720 |
|
$445 |
|
$— |
|
| Cost of sales (excluding depreciation) |
639 |
|
593 |
|
188 |
|
167 |
|
517 |
|
545 |
|
191 |
|
— |
|
| Depreciation |
294 |
|
322 |
|
48 |
|
48 |
|
178 |
|
162 |
|
58 |
|
— |
|
| Finance expense (income) |
77 |
|
14 |
|
1 |
|
1 |
|
7 |
|
11 |
|
(21) |
|
— |
|
| Other expense (income) |
49 |
|
90 |
|
— |
|
1 |
|
2 |
|
6 |
|
7 |
|
— |
|
| Income before income taxes |
$591 |
|
$469 |
|
$307 |
|
$275 |
|
$10 |
|
($4) |
|
$210 |
|
$— |
|
| Income tax expense |
(346) |
|
(154) |
|
(69) |
|
(71) |
|
(8) |
|
(29) |
|
(82) |
|
— |
|
| Net income |
$245 |
|
$315 |
|
$238 |
|
$204 |
|
$2 |
|
($33) |
|
$128 |
|
$— |
|
| Other comprehensive loss |
— |
|
— |
|
— |
|
— |
|
(4) |
|
— |
|
— |
|
— |
|
| Total comprehensive income (loss) |
$245 |
|
$315 |
|
$238 |
|
$204 |
|
($2) |
|
($33) |
|
$128 |
|
$— |
|
| Net income (net of non-controlling interests) |
$216 |
|
$290 |
|
$238 |
|
$204 |
|
$2 |
|
($33) |
|
$128 |
|
$— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summarized Balance Sheet |
|
|
|
|
|
|
|
|
| |
Kibali |
Jabal Sayid |
Zaldívar |
Porgera2 |
| For the years ended December 31 |
2024 |
2023 |
2024 |
2023 |
2024 |
2023 |
2024 |
2023 |
| Cash and equivalents |
$89 |
|
$123 |
|
$105 |
|
$97 |
|
$97 |
|
$38 |
|
$91 |
|
$1 |
|
Other current assets1 |
309 |
|
225 |
|
163 |
|
143 |
|
659 |
|
571 |
|
258 |
|
182 |
|
| Total current assets |
$398 |
|
$348 |
|
$268 |
|
$240 |
|
$756 |
|
$609 |
|
$349 |
|
$183 |
|
| Non-current assets |
3,851 |
|
3,896 |
|
395 |
|
402 |
|
1,762 |
|
2,014 |
|
3,106 |
|
2,837 |
|
| Total assets |
$4,249 |
|
$4,244 |
|
$663 |
|
$642 |
|
$2,518 |
|
$2,623 |
|
$3,455 |
|
$3,020 |
|
| Current financial liabilities (excluding trade, other payables & provisions) |
$968 |
|
$307 |
|
$1 |
|
$2 |
|
$78 |
|
$86 |
|
$20 |
|
$14 |
|
| Other current liabilities |
351 |
|
149 |
|
96 |
|
90 |
|
103 |
|
121 |
|
123 |
|
29 |
|
| Total current liabilities |
$1,319 |
|
$456 |
|
$97 |
|
$92 |
|
$181 |
|
$207 |
|
$143 |
|
$43 |
|
| Non-current financial liabilities (excluding trade, other payables & provisions) |
62 |
|
771 |
|
1 |
|
4 |
|
7 |
|
50 |
|
1 |
|
7 |
|
| Other non-current liabilities |
875 |
|
820 |
|
8 |
|
9 |
|
565 |
|
599 |
|
806 |
|
733 |
|
| Total non-current liabilities |
$937 |
|
$1,591 |
|
$9 |
|
$13 |
|
$572 |
|
$649 |
|
$807 |
|
$740 |
|
| Total liabilities |
$2,256 |
|
$2,047 |
|
$106 |
|
$105 |
|
$753 |
|
$856 |
|
$950 |
|
$783 |
|
| Net assets |
$1,993 |
|
$2,197 |
|
$557 |
|
$537 |
|
$1,765 |
|
$1,767 |
|
$2,505 |
|
$2,237 |
|
| Net assets (net of non-controlling interests) |
$1,806 |
|
$2,015 |
|
$557 |
|
$537 |
|
$1,765 |
|
$1,767 |
|
$2,505 |
|
$2,237 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1Zaldívar other current assets include inventory of $545 million (2023: $448 million). 2Refer to note 4.
|
| Schedule of reconciliation of summarized financial information to carrying value of equity investee |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Reconciliation of Summarized Financial Information to Carrying Value |
|
|
|
|
| |
Kibali |
Jabal Sayid |
Zaldívar |
Porgera1 |
| Opening net assets (net of non-controlling interests) |
$2,015 |
|
$537 |
|
$1,767 |
|
$2,237 |
|
| Investment in equity accounting method investment |
— |
|
— |
|
— |
|
30 |
|
| Income for the period (net of non-controlling interests) |
216 |
|
238 |
|
2 |
|
128 |
|
| Dividends received from equity investees |
(176) |
|
(218) |
|
|
— |
|
| Non-cash dividends received from equity investees |
(249) |
|
— |
|
— |
|
— |
|
| Funds invested |
— |
|
— |
|
— |
|
110 |
|
| Other comprehensive loss |
— |
|
— |
|
(4) |
|
— |
|
|
|
|
|
|
| Closing net assets (net of non-controlling interests), December 31 |
$1,806 |
|
$557 |
|
$1,765 |
|
$2,505 |
|
| Barrick's share of net assets |
904 |
|
278 |
|
883 |
|
787 |
|
| Equity earnings adjustment |
— |
|
— |
|
(10) |
|
(7) |
|
| Goodwill recognition |
1,111 |
|
123 |
|
— |
|
— |
|
| Carrying value |
$2,015 |
|
$401 |
|
$875 |
|
$780 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1Refer to note 4.
|