23. SEGMENTED INFORMATION

Segmented revenue and results

The Company has reportable segments as identified by the individual mining operations. Segments are operations reviewed by the executive management. Each segment is identified based on quantitative and qualitative factors.



For the Years Ended December 31,	Wassa		Prestea			Other			Corporate			Total
2018
Revenue	183,078		89,939			—			—			273,017
Mine operating expenses	86,916		89,112			—			—			176,028
Severance charges	4,970		9,888			—			—			14,858
Operating costs from metal inventory	7,184		5,702			—			—			12,886
Inventory net realizable value adjustment and write-off	3,684		1,971			—			—			5,655
Royalties	9,508		4,794			—			—			14,302
Cost of sales excluding depreciation and amortization	112,262		111,467			—			—			223,729
Depreciation and amortization	22,066		11,873			—			—			33,939
Mine operating margin/(loss)	48,750		(33,401		)	—			—			15,349
Income tax expense	12,350		—			—			—			12,350
Net income/(loss) attributable to non-controlling interest	3,043		(8,991		)	—			—			(5,948		)
Net income/(loss) attributable to Golden Star	27,994		(25,351		)	(8,543		)	(12,223		)	(18,123		)

Capital expenditures	35,420		11,414			—			—			46,834

2017
Revenue	$	167,376	$	148,121		$	—		$	—		$	315,497
Mine operating expenses	115,625		81,753			—			—			197,378
Severance charges	6,316		2,916			—			—			9,232
Operating costs from/(to) metal inventory	5,080		(4,913		)	—			—			167
Inventory net realizable value adjustment and write-off	2,410		—			—			—			2,410
Royalties	8,652		8,643			—			—			17,295
Cost of sales excluding depreciation and amortization	138,083		88,399			—			—			226,482
Depreciation and amortization	20,052		11,740			—			—			31,792
Mine operating margin	9,241		47,982			—			—			57,223
Net income attributable to non-controlling interest	1,693		495			—			—			2,188
Net income/(loss) attributable to Golden Star	$	17,644	$	50,050		$	(3,701	)	$	(25,222	)	$	38,771

Capital expenditures	$	21,583	$	48,055		$	—		$	—		$	69,638

Segmented Assets

The following table presents the segmented assets:



	Wassa		Prestea		Other		Corporate		Total
December 31, 2018
Total assets	$	181,446	$	147,815	$	898	$	87,828	$	417,987

December 31, 2017
Total assets	$	195,180	$	158,715	$	4,257	$	2,237	$	360,389

Information about major customers

Currently, approximately 90% of our gold production is sold through a South African gold refinery. Except for the sales to RGLD as part of the Streaming Agreement, the refinery arranges for the sale of gold on the day it is shipped from the mine sites and we receive payment for gold sold two working days after the gold leaves the mine site. The global gold market is competitive with numerous banks and refineries willing to buy gold on short notice. Therefore, we believe that the loss of our current customer would not materially delay or disrupt revenue.