SEGMENTED INFORMATION

12 Months Ended

Dec. 31, 2021

23.SEGMENTED INFORMATION

Agnico Eagle operates in a single industry, namely 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 Operating Decision Maker (“CODM”), the Chief Executive Officer for the purpose of allocating resources and assessing performance and that represent more than 10.0% of the combined revenue from mining operations, income or loss or total assets of all operating segments. Each of the Company’s significant operating mines and projects are considered to be separate operating segments. Certain operating segments that do not meet the quantitative thresholds are still disclosed where the Company believes that the information is useful. The CODM also reviews segment income (defined as revenues from mining operations less production costs, exploration and corporate development expenses and impairment losses and reversals) on a mine-by-mine basis. The following are the Company’s reportable segments organized according to their relationship with the Company’s three business units and reflect how the Company manages its business and how it classifies its operations for planning and measuring performance:


Northern Business:		LaRonde mine, LaRonde Zone 5 mine, Goldex mine, Meadowbank Complex, Meliadine mine, Hope Bay mine, Canadian Malartic joint operation and Kittila mine
Southern Business:		Pinos Altos mine, Creston Mascota mine and La India mine
Exploration:		United States Exploration office, Europe Exploration office, Canada Exploration offices and Latin America Exploration office

Revenues from mining operations and production costs for the reportable segments are reported net of intercompany transactions.

Corporate and other assets and specific income and expense items are not allocated to reportable segments.


	Year Ended December 31, 2021
	Revenues from				Exploration and		Segment
	Mining				Corporate		Income
	Operations		Production Costs		Development		(Loss)
Northern Business:
LaRonde mine	$	654,577	$	(232,392)	$	—	$	422,185
LaRonde Zone 5 mine		121,236		(56,380)		—		64,856
Goldex mine		241,404		(96,181)		—		145,223
Meadowbank Complex		589,769		(406,489)		—		183,280
Meliadine mine		636,085		(236,763)		—		399,322
Hope Bay mine		115,439		(83,118)		—		32,321
Canadian Malartic joint operation		645,607		(242,589)		(5,367)		397,651
Kittila mine		414,656		(192,742)		—		221,914
Total Northern Business		3,418,773		(1,546,654)		(5,367)		1,866,752

Southern Business:
Pinos Altos mine		259,446		(141,488)		—		117,958
Creston Mascota mine		27,784		(8,165)		—		19,619
La India mine		117,875		(60,381)		—		57,494
Total Southern Business		405,105		(210,034)		—		195,071
Exploration		—		—		(147,147)		(147,147)
Segment totals	$	3,823,878	$	(1,756,688)	$	(152,514)	$	1,914,676
Total segments income							$	1,914,676
Corporate and other:
Amortization of property, plant and mine development								(738,129)
General and administrative								(142,003)
Finance costs								(92,042)
Loss on derivative financial instruments								(11,103)
Environmental remediation								(576)
Foreign currency translation loss								(5,672)
Other expenses								(21,742)
Income before income and mining taxes							$	903,409


	Year Ended December 31, 2020
	Revenues from				Exploration and		Segment
	Mining		Production		Corporate		Income
	Operations		Costs		Development		(Loss)
Northern Business:
LaRonde mine	$	543,864	$	(169,824)	$	—	$	374,040
LaRonde Zone 5 mine		111,244		(47,899)		—		63,345
Goldex mine		227,181		(82,654)		—		144,527
Meadowbank Complex		366,743		(284,976)		(1,168)		80,599
Meliadine mine		569,063		(245,700)		—		323,363
Canadian Malartic joint operation		478,542		(195,312)		(18,637)		264,593
Kittila mine		372,132		(169,884)		—		202,248
Total Northern Business		2,668,769		(1,196,249)		(19,805)		1,452,715

Southern Business:
Pinos Altos mine		244,283		(124,678)		—		119,605
Creston Mascota mine		77,762		(35,088)		—		42,674
La India mine		147,299		(68,137)		—		79,162
Total Southern Business		469,344		(227,903)		—		241,441
Exploration		—		—		(93,687)		(93,687)
Segment totals	$	3,138,113	$	(1,424,152)	$	(113,492)	$	1,600,469
Total segments income							$	1,600,469
Corporate and other:
Amortization of property, plant and mine development								(631,101)
General and administrative								(116,288)
Finance costs								(95,134)
Gain on derivative financial instruments								107,873
Environmental remediation								(27,540)
Foreign currency translation loss								(22,480)
Other expenses								(48,234)
Income before income and mining taxes							$	767,565

The following table sets out total assets by segment:


	Total Assets as at
	December 31,		December 31,
	2021		2020
Northern Business:
LaRonde mine	$	946,218	$	852,171
LaRonde Zone 5 mine		93,699		71,545
Goldex mine		315,266		296,713
Meadowbank Complex		1,194,368		1,037,459
Meliadine mine		2,270,942		2,198,564
Hope Bay mine		461,483		—
Canadian Malartic joint operation		1,508,675		1,542,916
Kittila mine		1,600,278		1,590,795
Total Northern Business		8,390,929		7,590,163

Southern Business:
Pinos Altos mine		466,334		458,786
Creston Mascota mine		5,068		8,008
La India mine		233,376		228,120
Total Southern Business		704,778		694,914
Exploration		501,673		434,809
Corporate and other		589,396		894,869
Total assets	$	10,186,776	$	9,614,755

The following table sets out the carrying amount of goodwill by segment for the years ended December 31, 2021 and December 31, 2020:


	Canadian
	Malartic Joint
	Operation		Exploration		Total
Cost	$	597,792	$	60,000	$	657,792
Accumulated impairment		(250,000)		—		(250,000)
Carrying amount	$	347,792	$	60,000	$	407,792

The following table sets out capital expenditures by segment:


	Year Ended December 31,
	2021		2020
Northern Business:
LaRonde mine	$	138,784	$	109,262
LaRonde Zone 5 mine		16,953		9,823
Goldex mine		48,696		36,753
Meadowbank Complex		151,471		162,339
Meliadine mine		121,607		125,955
Hope Bay mine		50,958		—
Canadian Malartic joint operation		130,544		52,642
Kittila mine		123,152		199,115
Total Northern Business		782,165		695,889
Southern Business:
Pinos Altos mine		49,422		24,482
La India mine		20,601		21,626
Total Southern Business		70,023		46,108
Corporate and other		15,496		17,345
Total capital expenditures	$	867,684	$	759,342

The following table sets out revenues from mining operations by geographic area⁽ⁱ⁾:


	Year Ended December 31,
	2021		2020
Canada	$	3,004,117	$	2,296,637
Mexico		405,105		469,344
Finland		414,656		372,132
Total revenues from mining operations	$	3,823,878	$	3,138,113

Note:

(i)

Presented based on the location of the mine from which the product originated.

The following table sets out non-current assets by geographic area:


	As at December 31,		As at December 31,
	2021		2020
Canada	$	6,720,595	$	6,168,927
Mexico		671,691		736,908
Finland		1,458,838		1,447,157
Sweden		16,128		13,812
United States		17,136		763
Total non-current assets	$	8,884,388	$	8,367,567