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SEGMENTED INFORMATION
3 Months Ended
Mar. 31, 2013
SEGMENTED INFORMATION  
SEGMENTED INFORMATION

12.   SEGMENTED INFORMATION

  • Agnico Eagle operates in a single industry, the exploration for and production of gold. The Company's primary operations are in Canada, Mexico and Finland. The Company identifies its reportable segments as those operations whose operating results are reviewed by the Chief Executive Officer and that represent more than 10% of the combined revenue, profit or loss or total assets of all operating segments. The following are the reportable segments of the Company and reflect how the Company manages its business and how it classifies its operations for planning and measuring performance:

 

Canada:

  LaRonde mine, Lapa mine, Goldex mine, Meadowbank mine, Meliadine project and the Regional office
 

Latin America:

  Pinos Altos mine, Creston Mascota deposit at Pinos Altos and the La India project
 

Europe:

  Kittila mine
 

Exploration:

  United States Exploration office, Europe Exploration office, Canada Exploration offices and the Latin America Exploration office
  • The accounting policies of the reportable segments are the same as those described in the accounting policies note. There are no transactions between the reportable segments affecting revenue. Production costs for the reportable segments are net of intercompany transactions. Of the $229.3 million of goodwill reflected on the interim unaudited consolidated balance sheets at March 31, 2013, $200.1 million relates to the Meliadine project which is a component of the Canada segment and $29.2 million relates to the La India project which is a component of the Latin America segment.

    Corporate head office assets are included in the Canada segment and specific corporate income and expense items are noted separately below.

 
Three Months Ended
March 31, 2013
  Revenues
from
Mining
Operations
  Production
Costs
  Exploration and
Corporate
Development
  Amortization of
Property, Plant
and Mine
Development
  Foreign
Currency
Translation
Gain (Loss)
  Segment
Income
(Loss)
 
 

Canada

  $ 259,688   $ (168,102 ) $   $ (51,516 ) $ 1,352   $ 41,422  
 

Latin America

    88,596     (34,769 )       (9,965 )   (17,344 )   26,518  
 

Europe

    72,138     (27,182 )       (8,590 )   11,120     47,486  
 

Exploration

            (8,571 )       1,214     (7,357 )
                             
 

 

  $ 420,422   $ (230,053 ) $ (8,571 ) $ (70,071 ) $ (3,658 ) $ 108,069  
                             
 

Segment income

  $ 108,069  
 

Corporate and other:

       
 

    Interest and sundry expense

    (212 )
 

    Impairment loss on available-for-sale securities

    (10,995 )
 

    Gain on derivative financial instruments

    2,982  
 

    General and administrative

    (37,320 )
 

    Interest expense

    (13,916 )
                                       
 

Income before income and mining taxes

  $ 48,608  
                                       


 

 
Three Months Ended
March 31, 2012
  Revenues
from
Mining
Operations
  Production
Costs
  Exploration and
Corporate
Development
  Amortization of
Property, Plant
and Mine
Development
  Foreign
Currency
Translation
Loss
  Segment
Income
(Loss)
 
 

Canada

  $ 293,559   $ (153,844 ) $ (11,713 ) $ (47,105 ) $ (8,613 ) $ 72,284  
 

Latin America

    104,296     (35,161 )       (10,053 )   (5,744 )   53,338  
 

Europe

    75,079     (26,030 )       (7,395 )   (1,064 )   40,590  
 

Exploration

            (11,395 )       (96 )   (11,491 )
                             
 

 

  $ 472,934   $ (215,035 ) $ (23,108 ) $ (64,553 ) $ (15,517 ) $ 154,721  
                             
 

Segment income

  $ 154,721  
 

Corporate and other:

                                     
 

    Interest and sundry income

    269  
 

    Gain on derivative financial instruments

    895  
 

    General and administrative

    (33,928 )
 

    Interest expense

    (14,447 )
                                       
 

Income before income and mining taxes

  $ 107,510  
                                       


 

   
  Total Assets as at  
   
  March 31, 2013   December 31, 2012  
 

Canada

  $ 3,234,265   $ 3,280,158  
 

Latin America

    1,113,157     1,069,379  
 

Europe

    839,500     846,941  
 

Exploration

    63,898     59,641  
             
 

 

  $ 5,250,820   $ 5,256,119