Segmented Information

12 Months Ended

Dec. 31, 2021

Based on the primary products we produce and our development projects, we have five reportable segments that we report to our Chief Executive Officer – copper, zinc, steelmaking coal, energy and corporate. The corporate segment includes all of our initiatives in other commodities, our corporate growth activities and groups that provide administrative, technical, financial and other support to all of our business units. Other operating income (expenses) include general and administration, exploration, research and innovation and other operating income (expense). Sales between segments are carried out on terms that arm’s-length parties would use. Total assets do not include intra-group receivables between segments. Deferred tax assets have been allocated among segments.


(CAD$ in millions)	December 31, 2021
	Copper		Zinc		Steelmaking Coal		Energy		Corporate		Total
Segment revenue	$	3,452	$	3,574	$	6,251	$	715	$	—	$	13,992
Less intra-segment revenue	—		(511)		—		—		—		(511)
Revenue (Note 5(a))	3,452		3,063		6,251		715		—		13,481
Cost of sales	(1,711)		(2,375)		(3,466)		(848)		—		(8,400)
Gross profit (loss)	1,741		688		2,785		(133)		—		5,081
Impairment reversal (Note 7(a))	215		—		—		—		—		215
Other operating income (expense)	(14)		(41)		153		(21)		(523)		(446)
Profit (loss) from operations	1,942		647		2,938		(154)		(523)		4,850
Net finance income (expense)	(116)		(47)		(91)		(26)		70		(210)
Non-operating income (expense)	(137)		4		—		—		28		(105)
Share of loss of associates and joint ventures	(3)		—		—		—		—		(3)
Profit (loss) before taxes	1,686		604		2,847		(180)		(425)		4,532

Capital expenditures	3,074		259		1,284		83		13		4,713
Goodwill (Note 16)	389		—		702		—		—		1,091
Total assets	$	18,077	$	4,401	$	18,390	$	2,704	$	3,796	$	47,368


(CAD$ in millions)	December 31, 2020
	Copper		Zinc		Steelmaking Coal		Energy		Corporate		Total
Segment revenue	$	2,419	$	3,164	$	3,375	$	454	$	—	$	9,412
Less intra-segment revenue	—		(464)		—		—		—		(464)
Revenue (Note 5(a))	2,419		2,700		3,375		454		—		8,948
Cost of sales	(1,560)		(2,177)		(3,098)		(780)		—		(7,615)
Gross profit (loss)	859		523		277		(326)		—		1,333
Asset impairment (Note 7(a))	—		—		—		(1,244)		—		(1,244)
Other operating expenses	(323)		(98)		(193)		(28)		(357)		(999)
Profit (loss) from operations	536		425		84		(1,598)		(357)		(910)
Net finance income (expense)	(151)		(44)		(56)		(26)		9		(268)
Non-operating income (expense)	38		(4)		13		—		(4)		43
Share of gain (loss) of associates and joint ventures	1		—		—		—		(2)		(1)
Profit (loss) before taxes	424		377		41		(1,624)		(354)		(1,136)

Capital expenditures	1,990		247		1,284		91		16		3,628
Goodwill (Note 16)	391		—		702		—		—		1,093
Total assets	$	14,546	$	4,006	$	17,266	$	2,658	$	2,802	$	41,278

28. Segmented Information (continued)

The geographical distribution of our non-current assets, other than financial instruments, deferred tax assets and post-employment benefit assets, is as follows:


(CAD$ in millions)	December 31, 2021		December 31, 2020
Canada	$	22,949	$	22,410
Chile	13,771		10,555
United States	1,788		1,710
Peru	1,597		1,483
Other	162		157
	$	40,267	$	36,315