Newmont Corp. (NYSE:NEM)

The financial data for the segment exhibit notable fluctuations over the reviewed periods, particularly from 2021 to 2023. Income before income and mining tax and other items was positive in 2021 at 64 million US dollars, then experienced a significant deterioration in 2022 with a loss of 527 million US dollars. This loss was followed by a recovery in 2023, with income returning to a positive 82 million US dollars.

Sales figures also showed a declining trend from 2021 through 2023. Sales were 396 million US dollars in 2021, then decreased to 333 million in 2022, and slightly further to 332 million in 2023. Despite the modest drop in sales between the last two periods, the sharp swing in income suggests that factors other than sales volume, such as cost management or pricing, may have had a substantial impact on profitability.

The segment profit margin percentage offers further insight into profitability dynamics. In 2021, the profit margin was 16.16%, indicating a healthy operating efficiency. However, in 2022, the segment margin plummeted to -158.26%, reflecting the deep loss observed in income and indicating extreme operational or cost pressures during that year. By 2023, the margin improved markedly to 24.7%, surpassing the 2021 level and suggesting a strong operational recovery.

Overall, the segment's financial performance reflects a period of volatility, with a significant loss incurred in 2022 followed by a robust rebound in 2023. This rebound occurred despite slightly declining sales, pointing to improved cost control or other operational efficiencies. The substantial negative margin and income loss in 2022 warrant close scrutiny to understand the underlying causes and to ensure sustainability of the recovery seen in the most recent period.

The data for the Musselwhite segment over the period from 2019 to 2023 reveals notable trends in financial performance and profitability.

Income (Loss) Before Income and Mining Tax and Other Items

Available data begins in 2021, showing a positive income of $30 million in that year, followed by a decline to $23 million in 2022. In 2023, there is a significant deterioration with a loss of $254 million, indicating considerable operational or financial challenges that year.

Sales

Sales demonstrate a consistent upward trajectory from 2021 through 2023. Starting at $277 million in 2021, sales increased to $305 million in 2022 and further rose to $351 million by 2023. This steady growth in sales suggests strengthening market demand or increased production volumes.

Segment Profit Margin

The profit margin trend parallels the income pattern, with a margin of 10.83% in 2021 declining to 7.54% in 2022, and then turning sharply negative to -72.36% in 2023. This steep drop reflects a sharp decrease in profitability despite rising sales, potentially due to escalating costs, impairments, or other unfavorable factors impacting the segment’s earnings capacity.

Overall, while sales have grown consistently over the period under consideration, both income and profit margin have deteriorated substantially, culminating in a significant loss in 2023. This divergence signals challenges in cost management or external pressures affecting profitability, warranting further investigation to identify the underlying causes and to formulate corrective actions.

The analysis of the segment data from 2019 to 2023 reveals notable fluctuations in financial performance over the observed years.

Income (loss) before income and mining tax and other items

This measure shows a debut value in 2021 with a positive income of 121 million US dollars, followed by a significant decline in 2022, registering a loss of 329 million US dollars. Subsequently, in 2023, the figure recovered to a profit of 45 million US dollars, although it remained below the 2021 level. The trend suggests considerable volatility and a marked downturn in 2022 with partial recuperation in the following year.

Sales

Sales figures were first reported in 2021 at 517 million US dollars. Slight decreases occurred in both subsequent years, recording 504 million in 2022 and 503 million in 2023. This indicates a relatively stable but marginally declining sales trend across the last three years.

Segment profit margin

The segment profit margin mirrors the income trend, with a positive margin of 23.4% noted in 2021. This was followed by a steep decline to a negative margin of -65.28% in 2022, reflecting the pronounced loss incurred. In 2023, the margin improved to 8.95%, signaling a recovery but remaining lower than the initial profitable period in 2021.

In summary, the segment experienced a period of profitability in 2021, impacted by a sharp downturn in 2022, likely indicative of operational or market challenges. Despite the reduction in sales and negative profitability metrics in 2022, the financial indicators in 2023 point toward a phase of recovery and improved performance, although full reversal to the 2021 levels has not yet been achieved.

Income (Loss) Before Income and Mining Tax and Other Items

The income before income and mining tax and other items experienced a significant decline over the observed period. It was positive at 60 million US$ in 2021, sharply decreased to 4 million US$ in 2022, and then turned markedly negative, reaching -203 million US$ in 2023. This trend indicates increasing financial challenges or operational difficulties impacting profitability before taxes and other considerations.

Sales

Sales figures showed some fluctuation but remained relatively stable overall. Sales were 446 million US$ in 2021, then declined to 391 million US$ in 2022, before rising again to 453 million US$ in 2023. This suggests some variability in revenue generation with a recovery in the most recent year, although it did not fully prevent the deterioration of profitability.

Segment Profit Margin

The segment profit margin exhibited a pronounced downward trajectory. It was 13.45% in 2021, nearly flat at 1.02% in 2022, and turned deeply negative to -44.81% in 2023. This declining margin aligns with the drop in income and indicates worsening cost management or increased expenses relative to sales, culminating in substantial operational losses within the segment in 2023.

Income before income and mining tax and other items

The income recorded for the year ending December 31, 2023, was US$ 8 million. No data is available for the previous years, thus no trend analysis over time can be conducted for this item.

Sales

Sales for the year ending December 31, 2023, amounted to US$ 32 million. Similarly, no historical sales data is available for comparison to identify any growth or decline trends.

Segment profit margin

The segment profit margin for the year ending December 31, 2023, was reported at 25%. Due to the absence of prior years' data, it is not possible to assess whether this margin represents an improvement, decline, or stability over time.

Overall observations

The data shows financial metrics for only the most recent year, limiting the ability to draw conclusions about performance trends or changes. The segment appears to have a positive income and a healthy profit margin as of December 31, 2023, along with meaningful sales figures. However, more longitudinal data would be required for a comprehensive analysis of performance dynamics.

Income (loss) before income and mining tax and other items

The data indicates a loss of 26 million US dollars in the most recent year (2023). There is no recorded data for the years 2019 through 2022, which precludes trend analysis for this specific metric over multiple years.

Sales

Sales in the year 2023 amount to 72 million US dollars. No sales figures are available for the previous years from 2019 to 2022, limiting the assessment of changes or growth patterns over time.

Segment profit margin

The segment profit margin is reported as negative 36.11% for the year 2023. Data for prior years is not available, which restricts the ability to evaluate the evolution of profitability within the segment across previous reporting periods. The negative margin suggests the segment operated at a loss relative to sales in 2023.

Income Before Income and Mining Tax and Other Items

The income before income and mining tax and other items exhibits a declining trend over the periods with data available. It decreased from 979 million US dollars in 2021 to 403 million US dollars in 2022, followed by a significant loss of 1,811 million US dollars in 2023. This indicates a sharp deterioration in profitability in the most recent year.

Sales

Sales figures followed a downward trajectory during the observed periods. Sales declined from 2,634 million US dollars in 2021 to 2,189 million US dollars in 2022, and further dropped to 901 million US dollars in 2023. This considerable reduction in sales revenue suggests a significant contraction in segment activity or market conditions.

Segment Profit Margin

The segment profit margin demonstrates a marked decrease, transitioning from positive to negative values. It was 37.17% in 2021, which declined to 18.41% in 2022, and further plunged to -201% in 2023. The negative margin in the latest period reflects that the segment incurred substantial losses relative to its sales.

Income Before Income and Mining Tax and Other Items

The income before income and mining tax and other items shows a declining trend over the three reported years. It started at 328 million USD in 2021, decreased to 249 million USD in 2022, and further declined to 122 million USD in 2023. This indicates a significant reduction in profitability from core operations before tax considerations.

Sales

Sales figures also exhibit a decreasing trend during the period under consideration. Sales decreased from 780 million USD in 2021 to 723 million USD in 2022, and further reduced to 625 million USD in 2023. This decline in sales revenue corresponds with the observed decline in income before tax and other items.

Segment Profit Margin

The segment profit margin has progressively decreased over the years. It was 42.05% in 2021, dropping to 34.44% in 2022 and further falling to 19.52% in 2023. This downward trend in profit margin reflects decreasing operational efficiency or increased costs relative to sales, contributing to the decline in income before tax and other items.

Summary

Overall, the data reveals a consistent decline in both sales and profitability metrics for the segment over the three-year period. The decreasing income before tax and segment profit margin, coupled with falling sales, suggests challenges that may be related to market conditions, operational cost pressures, or other external factors affecting the segment's financial performance.

The financial performance of the Cerro Negro segment from 2019 to 2023 highlights a significant degree of volatility, with notable fluctuations in profitability and sales figures over the observed periods.

Income (loss) before income and mining tax and other items

This metric was not reported for 2019 and 2020, but in 2021 it showed a positive value of 68 million US dollars, indicating profitability during that year. However, the subsequent year recorded a substantial loss of 451 million US dollars, reflecting a sharp decline in earnings before taxes. In 2023, the value rebounded to a positive 15 million US dollars, suggesting a partial recovery though remaining significantly below the 2021 level.

Sales

Reported sales demonstrated a consistent upward trend from 480 million US dollars in 2021 to 508 million in 2022, and further to 510 million in 2023. This steady increase indicates a generally stable or growing market presence despite fluctuations in profitability.

Segment profit margin

The profit margin showed a strong positive margin of 14.17% in 2021, aligning with the positive income before tax. In 2022, the margin turned sharply negative at -88.78%, reflecting the large loss incurred during the year despite higher sales. By 2023, the margin improved again to a positive 2.94%, signaling a return to profitability but at a much lower margin compared to 2021.

Overall, the segment experienced a significant downturn in 2022 with a steep loss and negative profitability margin, despite increasing sales figures. The subsequent year demonstrated signs of financial recovery, with improved income and a positive yet modest profit margin, indicating efforts to stabilize operations after a period of substantial financial stress.

The financial data for Yanacocha, Peru, reveals a pattern characterized by significant fluctuations in income before income and mining tax and other items, sales, and segment profit margin over the period from 2021 to 2023.

Income (Loss) Before Income and Mining Tax and Other Items

This metric shows substantial negative values throughout the reported years, with a loss of $1,552 million in 2021, which improves to a loss of $612 million in 2022, but then worsens again to a loss of $1,070 million in 2023. This indicates persistent challenges in profitability, with a notable temporary improvement in 2022.

Sales

Sales figures demonstrate a rising trend over the three years examined, increasing from $471 million in 2021 to $451 million in 2022, then reaching $537 million in 2023. This growth suggests a positive trajectory in revenue generation despite the ongoing losses.

Segment Profit Margin

The segment profit margin remains deeply negative throughout the periods, indicating substantial operational or cost issues affecting profitability. It shows a marked improvement from -329.51% in 2021 to -135.7% in 2022, but then deteriorates again to -199.26% in 2023. This pattern mirrors the income before tax trend, highlighting volatility and ongoing challenges in achieving a sustainable profit margin.

Overall, the data underscores a situation where sales are increasing, yet significant losses persist, resulting in negative profit margins. The temporary improvement in 2022 suggests some operational or market factors positively influenced profitability during that year, but these gains were not sustained in 2023. Continued attention to cost control and operational efficiencies may be required to enhance financial performance in this segment.

Income before income and mining tax and other items

There is a clear upward trend in income before income and mining tax and other items from 2021 to 2023. Starting at 627 million US dollars in 2021, the figure increased to 779 million in 2022 and further to 811 million in 2023. This consistent growth indicates improving operational profitability in the segment over these years.

Sales

Sales have shown steady growth over the three-year period. Sales increased from 1507 million US dollars in 2021 to 1763 million in 2022, followed by a more modest increase to 1814 million in 2023. This upward trajectory suggests an expansion in the segment's market activity or increased volume of sales, contributing positively to revenue generation.

Segment profit margin

The segment profit margin consistently improved each year from 2021 to 2023. It rose from 41.61% in 2021 to 44.19% in 2022, and then slightly to 44.71% in 2023. This indicates enhanced efficiency or cost control within the segment, as the proportion of profit relative to sales has increased steadily.

The financial data for the segment located in Tanami, Australia, reveals several notable trends over the observed periods.

Income (loss) before income and mining tax and other items

Starting from 2021, the segment recorded an income before income and mining tax and other items of US$466 million. This figure showed a moderate decline over the subsequent years, decreasing to US$422 million in 2022 and further to US$407 million in 2023. This trend indicates a gradual reduction in profitability before tax impacts over the three-year span.

Sales

Sales figures for the years 2021 through 2023 remained relatively stable, fluctuating only slightly. Sales were US$879 million in 2021, then effectively maintained at US$878 million in 2022, followed by a minor decrease to US$867 million in 2023. The stability in sales suggests a consistent revenue stream despite the slight downward movement in income before tax.

Segment profit margin

The segment profit margin exhibited a downward trend over the same timeframe. From 53.01% in 2021, it declined to 48.06% in 2022, and further decreased to 46.94% in 2023. This indicates that while sales remained steady, profitability relative to sales was diminishing year-over-year, reflecting either increased costs or reduced efficiency impacting profit generation.

In summary, the segment demonstrated consistent sales performance but faced decreasing profitability and margin pressures from 2021 through 2023. The decline in income before tax and segment profit margin suggests challenges influencing cost control or operational efficiency. Close monitoring and analysis of the factors contributing to these profitability trends would be advisable.

Income before income and mining tax and other items

There is no reported data for the years 2019 through 2022. However, in 2023, the income before income and mining tax and other items amounted to $158 million.

Sales

Sales figures are unavailable for the years 2019 to 2022. In 2023, sales reached $422 million.

Segment Profit Margin

The segment profit margin data is only provided for 2023, showing a margin of 37.44%. No data is available for the previous years.

The absence of data for the earlier periods precludes trend analysis over multiple years. For 2023, recorded sales of $422 million generated a segment profit margin of 37.44%, resulting in an income before income and mining tax and other items of $158 million. This indicates a profitable segment performance for the year, with a substantial margin relative to sales. Further trend analysis would require additional historical data.

The financial data for the Telfer, Australia segment over the period under review reveals limited information, as values are predominantly missing for the years 2019 through 2022, with data available only for 2023. The reported figures for 2023 indicate a sales value of US$152 million, an income (loss) before income and mining tax and other items of negative US$10 million, and a segment profit margin of -6.58%.

The presence of a negative income before income and mining tax suggests the segment experienced operational losses during 2023, despite generating sales revenue. The negative profit margin further emphasizes that the costs and expenses associated with operations exceeded the revenue earned from sales in that year.

Without prior years' data, it is not possible to ascertain trends or changes over time. The available information highlights a challenging financial performance for the segment in 2023, reflecting possibly increased costs, decreased operational efficiency, or external factors impacting profitability. The loss position and negative profit margin warrant further investigation to understand underlying causes and to inform potential corrective actions.

The financial data for the Lihir, Papua New Guinea reportable segment over the periods ending December 31, 2019, through December 31, 2023 shows information only for the year 2023. The available metrics for 2023 indicate a sales figure, segment profit margin, and income before income and mining tax and other items.

Income (loss) before income and mining tax and other items

The income before taxes and other items was US$93 million as of December 31, 2023. No data is available for previous years, therefore, no trend analysis over time is possible for this item.

Sales

Sales revenue reached US$266 million in 2023. As there is no data for prior years, it is not possible to assess growth or decline trends or seasonality in sales for this segment.

Segment profit margin

The segment profit margin for 2023 stands at 34.96%. Without data from previous years, it is not feasible to analyze margin trends or improvements in profitability over the observed periods.

In summary, the available financial information for 2023 shows the Lihir segment achieved a positive income before taxes and other items of US$93 million, supported by sales of US$266 million and a segment profit margin close to 35%. The absence of earlier period data limits the ability to identify changes or trends in financial performance over time. Consequently, the assessment is constrained to the single year snapshot of 2023.

Income (loss) before income and mining tax and other items

The segment experienced a positive income before income and mining tax and other items since 2021. It increased from 267 million US dollars in 2022 to 369 million US dollars in 2023, indicating a significant improvement in profitability within the most recent year. The values for 2019 and 2020 were not reported.

Sales

Sales showed a steady upward trend from 864 million US dollars in 2021 to 1,130 million US dollars in 2023. This represents a compound increase over the three-year period, reflecting growth in revenues generated by the segment.

Segment profit margin

Profit margins fluctuated during the period analyzed. The margin declined from 31.13% in 2021 to 26.1% in 2022, indicating a contraction in profitability relative to sales. However, in 2023, the profit margin rebounded to 32.65%, surpassing the 2021 level and suggesting improved cost management or operational efficiency despite growing sales.

Income (loss) before income and mining tax and other items

For the years with available data, there is a clear downward trend in income before income and mining tax and other items. It decreased from 284 million US dollars in 2021 to 257 million US dollars in 2022, and further declined to 151 million US dollars in 2023. This continuous reduction suggests increasing costs or decreasing profitability within the segment over the analyzed period.

Sales

Sales showed an increase from 680 million US dollars in 2021 to 749 million US dollars in 2022, indicating growth in revenue during this period. However, sales declined to 574 million US dollars in 2023, reflecting a significant decrease that could be attributed to market conditions, operational challenges, or reduced demand.

Segment profit margin

The segment profit margin exhibited a consistent decline over the three years with data. It was 41.76% in 2021, decreased to 34.31% in 2022, and further declined to 26.31% in 2023. This trend indicates diminishing profitability relative to sales, which could result from rising costs, lower sales prices, or other operational inefficiencies.

Income (loss) before income and mining tax and other items

The income before income and mining tax and other items was first reported in 2021 at 818 million US dollars. This figure declined sharply in 2022 to 434 million US dollars and remained relatively stable in 2023 with a slight decrease to 432 million US dollars. The trend indicates a substantial reduction from 2021 to 2022, followed by stabilization in the subsequent year.

Sales

Sales showed a decrease from 2291 million US dollars in 2021 to 2098 million US dollars in 2022. However, there was a notable recovery in 2023, with sales increasing again to 2271 million US dollars. Overall, sales experienced a dip followed by a partial rebound, but the 2023 sales level remained just below the 2021 figure.

Segment profit margin

The segment profit margin exhibited a downward trend over the three-year period. It started at 35.7% in 2021 and decreased significantly to 20.69% in 2022. This decline continued into 2023, with the margin dropping further to 19.02%. The consistent reduction in profit margin suggests increasing pressures on profitability despite fluctuating sales and income levels.

Income (loss) before income and mining tax and other items

The income before income and mining tax and other items experienced notable fluctuations over the periods observed. Initially, in 2021, a positive income of 64 million US dollars was recorded, followed by a significant decline to a loss of 527 million US dollars in 2022. In 2023, a recovery occurred with income rising back to 82 million US dollars. This pattern indicates a period of financial difficulty in 2022, with a subsequent return to profitability the following year.

Total assets

Total assets showed a declining trend between 2021 and 2022, decreasing from 777 million US dollars to 286 million US dollars. However, in 2023, total assets increased again to 383 million US dollars, suggesting some level of asset recovery or revaluation after the sharp drop in 2022.

Segment Return on Assets (ROA)

The segment ROA displayed extreme volatility across the reported years. In 2021, the ROA was a positive 8.24%, reflecting a profitable use of assets during that period. This was followed by a drastic drop to a negative 184.27% in 2022, corresponding with the substantial loss and asset decline noted. By 2023, the ROA rebounded to a positive 21.41%, indicating improved profitability and more efficient asset utilization.

Overall Analysis

The segment experienced significant instability throughout the examined periods, characterized by a profitable position in 2021, a severe downturn in 2022, and a marked recovery in 2023. Both income and total assets contracted sharply in 2022, leading to a deeply negative ROA, signaling operational and financial challenges during that year. The subsequent improvement in 2023 across income, assets, and ROA suggests a successful turnaround strategy or favorable market conditions. Monitoring of volatility and risk in this segment remains essential due to the observed fluctuations.

The segment data for Musselwhite, Canada, reveals several notable trends over the analyzed periods. Initially, for the years 2019 and 2020, there is an absence of reported financial data, indicating either lack of operations or unavailability of data for those years. Starting in 2021, the segment reports a positive income before income and mining tax and other items, amounting to 30 million US dollars, which then decreases slightly to 23 million US dollars in 2022, but sharply declines to a substantial loss of 254 million US dollars in 2023.

A similar downward trajectory is observed in the segment's total assets, which decreased consecutively from 1317 million US dollars in 2021 to 1294 million in 2022, followed by a more pronounced reduction to 1018 million US dollars by 2023. This decline in asset base may reflect asset disposals, impairments, or other structural changes within the segment.

The segment return on assets (ROA) aligns with the income and asset trends. It begins at a modest positive level of 2.28% in 2021, declines to 1.78% in 2022, and then deteriorates significantly to -24.95% in 2023. This shift to a negative ROA in 2023 highlights a substantial erosion in profitability relative to the asset base, indicating operational or market challenges faced by the segment.

Overall, the data indicates a stable but declining performance in 2021 and 2022, followed by a severe downturn in 2023 as evidenced by the sharp decrease in income, a reduction in total assets, and a negative ROA. This suggests that during the most recent period, the segment encountered significant adverse factors impacting its financial health and operational effectiveness.

Income (loss) before income and mining tax and other items

The income before income and mining tax and other items showed considerable volatility over the reported periods. It was positive at 121 million US dollars initially reported, followed by a significant decline to a loss of 329 million US dollars in the subsequent year. The figure then recovered to a modest profit of 45 million US dollars in the latest period, indicating some level of operational improvement after a challenging interval.

Total assets

Total assets demonstrated a declining trend from 1572 million US dollars to 1401 million US dollars, indicating a reduction in the asset base. However, in the most recent period, assets increased to 1473 million US dollars, suggesting a partial recovery or reinvestment after the previous decline.

Segment ROA

The segment return on assets (ROA) experienced significant fluctuations, starting from a positive 7.7% and dropping sharply to a negative 23.48%. This negative return reflects difficulties in generating profits relative to the asset base during that period. Subsequently, ROA rebounded to a positive 3.05%, illustrating some recovery in asset profitability, though still below the initial level.

Income Before Income and Mining Tax and Other Items

The income figure showed a positive amount of US$60 million at the end of 2021, followed by a significant decrease to US$4 million in 2022. This trend reversed substantially in 2023, with the segment recording a loss of US$203 million. The data indicates increasing challenges or expenses impacting profitability starting from 2022, culminating in a notable negative outcome in 2023.

Total Assets

Total assets exhibited a declining trend over the observed period. From US$1062 million in 2021, assets decreased to US$1010 million in 2022, and further diminished to US$777 million in 2023. This progressive reduction in total assets suggests possible asset disposals, impairments, or other balance sheet adjustments affecting the segment.

Segment Return on Assets (ROA)

The segment ROA declined sharply over the period. Starting at 5.65% in 2021, it dropped significantly to 0.4% in 2022, and subsequently to -26.13% in 2023. This trend mirrors the income performance and asset base reductions, indicating that the segment has moved from generating modest returns on its assets to incurring considerable losses relative to assets by 2023.

The analysis of the annual Red Chris, Canada reportable segment data reveals limited but important insights across the recent years. The data presents a narrow set of financial indicators, each with a single value reported for the year ending December 31, 2023, and no prior year data available for comparison. This restricts the ability to evaluate trends or changes over multiple periods.

Income (Loss) before Income and Mining Tax and Other Items

The reported income before income and mining tax and other items for the year ending December 31, 2023 is US$8 million. Without previous years' data to compare, it is not possible to ascertain whether this represents an increase, decrease, or stabilization in profitability.

Total Assets

Total assets are reported at US$2,178 million for the year ending December 31, 2023. Again, absent prior years' figures, analysis of asset growth or contraction cannot be conducted, leaving the asset base as a static snapshot rather than a trend.

Segment Return on Assets (ROA)

The segment ROA stands at 0.37% for the year ending December 31, 2023. This indicates a relatively low return generated on the assets held by this segment. Without comparative historical data, it is not feasible to determine if operational efficiency or asset utilization improved or deteriorated.

In summary, the available data provides a singular perspective on the segment’s recent operational and financial position but does not facilitate a comprehensive trend analysis over time. The income figure suggests modest profitability, the total assets indicate a substantial asset base, and the ROA implies low return efficiency. For a more robust assessment, multi-year data should be obtained to evaluate growth, profitability dynamics, and asset utilization trends more effectively.

Income (loss) before income and mining tax and other items

The income before income and mining tax and other items shows that only the most recent value is provided, which is a loss of 26 million US dollars as of December 31, 2023. There is an absence of previous period data, so trend analysis over time is not possible for this measure. However, the current negative figure indicates the segment operated at a loss prior to tax and other considerations in 2023.

Total assets

The total assets value is reported only for December 31, 2023, amounting to 4,006 million US dollars. No prior years’ data are available, hence no trend can be discerned. The reported value suggests the scale of the segment's asset base at the end of 2023.

Segment Return on Assets (ROA)

The segment ROA is also given solely for the year ending December 31, 2023, recorded at -0.65%. This negative return on assets indicates that the segment did not generate profit from its asset base during this time frame. Absence of earlier data prevents the identification of any trend or comparative performance over multiple years.

In summary, the available data for the segment as of December 31, 2023, show a loss before income and mining taxes, a negative return on assets, and total assets amounting to just over 4 billion US dollars. Lack of historical figures limits deeper analysis, but the 2023 figures point to operational challenges impacting profitability within the segment.

The financial data for the "Peñasquito, Mexico" segment reveals a significant level of volatility over the observed years, particularly in profitability and asset base.

Income Before Income and Mining Tax and Other Items

This metric shows a positive value of $979 million as of December 31, 2021, which then declines sharply to $403 million in 2022, followed by a steep loss of $1,811 million in 2023. The transition from profit to considerable loss indicates challenges impacting operational profitability.

Total Assets

The asset base decreased gradually from $6,561 million in 2021 to $6,430 million in 2022 and fell more noticeably to $4,738 million by the end of 2023. This downward trend suggests potential asset disposals, impairments, or other reductions in the segment's asset base.

Segment Return on Assets (ROA)

ROA declined markedly from 14.92% in 2021 to 6.27% in 2022 and further into negative territory at -38.22% in 2023. This trend reflects deteriorating efficiency in generating returns from the assets employed in this segment, consistent with the reported income losses and asset base contraction.

Overall, the data indicates a deteriorating financial performance within the segment during the period from 2021 to 2023, highlighted by a transition from profitability to substantial losses, declining asset values, and sharply decreasing return on assets. This suggests operational difficulties and possibly other underlying issues impacting this segment's financial health.

The financial data for the Merian, Suriname segment over the period from December 31, 2019 to December 31, 2023 reveals several notable trends in profitability, asset base, and return on assets.

Income Before Income and Mining Tax and Other Items

Income figures are available starting from 2021. In 2021, the segment recorded an income of $328 million. This amount declined to $249 million in 2022, followed by a further decrease to $122 million in 2023. The downward trend over these three years suggests a significant reduction in profitability before taxes and other adjustments.

Total Assets

The total assets were reported as $952 million in 2021. There was a modest decrease to $923 million in 2022 and a slight rebound to $927 million in 2023. Overall, the asset base remained relatively stable with minor fluctuations during the period examined.

Segment Return on Assets (ROA)

The segment ROA demonstrates a clear declining trend. It started at a strong 34.45% in 2021, then decreased to 26.98% in 2022, before falling further to 13.16% in 2023. This declining ROA indicates diminishing efficiency in generating income from assets over the observed years.

In summary, the segment’s profitability has experienced a marked decline over the latest three-year span, despite a relatively stable total asset base. The return on assets has decreased substantially, signaling reduced operational effectiveness or increased costs impacting income generation. These patterns warrant further investigation into the underlying operational or market factors affecting the segment's performance.

Income (loss) before income and mining tax and other items

The segment experienced significant volatility over the observed periods. In 2021, the income before taxes was positive at 68 million USD, indicating operational profitability. However, in 2022, there was a sharp reversal to a substantial loss of 451 million USD, suggesting notable challenges during that year. In 2023, the income partially recovered to a positive amount of 15 million USD, albeit much lower than the 2021 level.

Total assets

There was a marked decline in total assets from 2,183 million USD in 2021 to 1,659 million USD in 2022, representing a reduction of approximately 24%. This downward trend continued slightly into 2023 with total assets recorded at 1,646 million USD. The reduction in assets may reflect asset sales, impairment, or restructuring activities within the segment.

Segment Return on Assets (ROA)

The segment ROA followed a trend consistent with the income figures. It was positive at 3.11% in 2021 but deteriorated sharply to -27.19% in 2022, indicating a significant decrease in profitability relative to asset base. In 2023, the ROA improved to 0.91%, reflecting a partial recovery in asset profitability though remaining substantially below the 2021 level.

Overall, the segment displayed a period of profitability in 2021 followed by a severe downturn in 2022, which impacted income, asset base, and returns. While there was some recovery in 2023, performance remained subdued compared to the earlier period. The decline in assets alongside poor profitability in 2022 suggests operational or external factors adversely affecting the segment, with gradual stabilization evident in the subsequent year.

The financial performance and asset base of the segment exhibit notable fluctuations over the analyzed period. The reported income before income and mining tax and other items demonstrates a volatile pattern, with the segment experiencing significant losses throughout the latest three years. Specifically, a substantial loss of 1,552 million USD is recorded in 2021, followed by a narrowing of losses to 612 million USD in 2022, then increasing again to a loss of 1,070 million USD in 2023, indicating inconsistent profitability challenges.

Concurrently, the total assets for the segment have increased from 1,735 million USD in 2021 to 2,225 million USD in 2022, before slightly declining to 2,117 million USD in 2023. This reflects a growth in the asset base during the initial part of the period followed by a marginal contraction, which could be related to operational adjustments or asset reallocation strategies.

The segment return on assets (ROA) corroborates the loss-making trend, showing deeply negative returns throughout the period. The ROA improved from -89.45% in 2021 to -27.51% in 2022, indicating some recovery in the efficiency of asset utilization, but then declined again to -50.54% in 2023. These figures emphasize ongoing inefficiencies in generating returns relative to the asset investment.

Income (loss) before income and mining tax and other items

Significant losses observed over three consecutive years with fluctuation; smallest loss in 2022.

Total assets

Asset base grew considerably in 2022, followed by a moderate decrease in 2023.

Segment ROA

Highly negative with some improvement in 2022, but deterioration in 2023, indicative of continuing performance challenges.

The analysis of the Boddington, Australia segment over the period from 2021 to 2023 reveals several noteworthy trends in financial performance and asset utilization.

Income Before Income and Mining Tax and Other Items

This metric exhibited consistent growth across the three years under review. Starting at $627 million in 2021, the income rose to $779 million in 2022 and further increased to $811 million in 2023. The upward trajectory indicates improving operational profitability and effective cost management during this period.

Total Assets

Total assets of the segment remained relatively stable between 2021 and 2022, showing a marginal increase from $2,261 million to $2,264 million. In 2023, total assets experienced a more significant increase to $2,376 million, suggesting investments or asset acquisitions contributing to the segment’s growth capacity.

Segment Return on Assets (ROA)

The segment ROA displayed a strong positive trend, rising from 27.73% in 2021 to 34.41% in 2022, which represents a notable increase in the efficiency of asset utilization and profitability generated per unit of asset. Although there was a slight decrease to 34.13% in 2023, the ROA remained substantially higher than the 2021 level, indicating sustained effective asset management.

Overall, the Boddington segment demonstrated improving financial results with increases in income and asset base accompanied by enhanced returns on assets. The data reflect a phase of stable growth, with efficient deployment of resources supporting profitability and operational expansion.

Income before income and mining tax and other items

The income before income and mining tax and other items shows a decreasing trend over the three reported years. Starting at 466 million US dollars in 2021, it declined to 422 million in 2022 and further to 407 million in 2023. This indicates a gradual reduction in profitability from this segment over the observed period.

Total assets

Total assets in this segment increased consistently each year. From 1334 million US dollars in 2021, total assets grew to 1585 million in 2022 and further to 1896 million in 2023. This upward trend suggests ongoing investment or accumulation of assets in the segment during these years.

Segment Return on Assets (ROA)

The Segment ROA shows a declining pattern, decreasing from 34.93% in 2021 to 26.62% in 2022 and further to 21.47% in 2023. Despite increasing total assets, the return generated per unit of asset has been diminishing, indicating lower efficiency or profitability relative to the asset base over time.

The data for the Cadia, Australia reportable segment indicates that several key financial metrics are only available for the year ended December 31, 2023, while earlier years lack corresponding values, limiting the ability to analyze multi-year trends.

Income (loss) before income and mining tax and other items

The value for 2023 is reported at US$158 million. There are no data points for the prior years, so it is not possible to determine whether income before taxes and other items has increased or decreased over time.

Total assets

Total assets as of 2023 amount to US$6,351 million. Again, the absence of information for previous years prevents trend analysis regarding asset growth or contraction.

Segment Return on Assets (ROA)

The segment ROA in 2023 stands at 2.49%. Without historical comparative figures, it is not feasible to assess improvements or deteriorations in asset profitability across the examined periods.

In summary, the available data only provide a snapshot for the year 2023. This snapshot shows a positive income before income and mining tax and a segment ROA of 2.49%, indicating modest returns relative to the asset base. However, the lack of historical data precludes any meaningful analysis of temporal trends, performance progression, or asset utilization efficiency changes over multiple years.

Income (loss) before income and mining tax and other items

The income before income and mining tax and other items was recorded as a loss of 10 million US dollars in the most recent period ending December 31, 2023. No data is available for the prior years, making it impossible to identify a trend or compare performance over time.

Total assets

Total assets amounted to 574 million US dollars as of December 31, 2023. Information for previous periods is not provided, therefore, no trend analysis can be performed regarding asset growth or contraction.

Segment ROA (Return on Assets)

The segment return on assets showed a negative value of -1.74% in the latest period available (December 31, 2023). Prior year ROA data is missing; hence, it is not possible to determine whether return on assets has improved or deteriorated over time.

The reported data for the Lihir, Papua New Guinea segment reveals limited temporal information, with values available only for the year ending December 31, 2023. Despite the scarcity of historical data points, several observations can be made.

Income before income and mining tax and other items

The segment reported an income of US$93 million in 2023. As previous years' data are absent, trend analysis over time is not feasible. However, this figure establishes a baseline for evaluating future performance or comparing with other periods once data become available.

Total assets

The segment's total assets were valued at US$3,909 million as of 2023. Without prior data, it is not possible to identify trends in asset growth, reduction, or stability. Nevertheless, the asset base size provides context for understanding the scale of operations within the segment.

Segment return on assets (ROA)

The ROA stands at 2.38% for the year 2023. This metric indicates the segment's profitability relative to its asset base. Given the available data, it reflects the efficiency with which the segment utilized its assets to generate income during this period.

In summary, the data offers a snapshot of the Lihir segment's financial position and performance for 2023, showing moderate profitability and a substantial asset base. However, the absence of historical values limits the ability to assess trends, growth trajectories, or performance volatility over time.

Income before income and mining tax and other items

The income before income and mining tax and other items demonstrated an overall increasing trend from 2019 to 2023. The available data starting from 2021 shows income values of 269 million US$, 267 million US$, and 369 million US$ for 2021, 2022, and 2023 respectively. There was a slight decline between 2021 and 2022, followed by a notable increase in 2023, reaching the highest value in the period considered.

Total assets

Total assets increased steadily from 2021 to 2023. The values rose from 2,425 million US$ in 2021 to 2,619 million US$ in 2022 and further to 2,823 million US$ in 2023. This consistent growth in assets indicates expansion or reinvestment activities within the segment.

Segment Return on Assets (ROA)

The segment ROA displayed a fluctuating pattern over the period from 2021 to 2023. The ROA was 11.09% in 2021, decreased to 10.19% in 2022, and then increased to 13.07% in 2023. Despite the dip in 2022, the segment's profitability relative to assets improved significantly in 2023, surpassing the initial 2021 level. This suggests enhanced efficiency or profitability in asset utilization in the most recent year.

Income Before Income and Mining Tax and Other Items

The segment reported its first recorded income of $284 million in 2021, which subsequently decreased to $257 million in 2022 and further to $151 million in 2023. This indicates a consistent decline in profitability within the segment over this three-year period.

Total Assets

Total assets within the segment remained relatively stable from 2021 to 2022, increasing slightly from $990 million to $998 million. However, in 2023, total assets increased further to $1,069 million, reflecting asset growth which may suggest ongoing investment or acquisition activities despite declining profitability.

Segment Return on Assets (ROA)

The ROA exhibited a downward trend, starting at 28.69% in 2021, slightly decreasing to 25.75% in 2022, and sharply dropping to 14.13% in 2023. This decline indicates that the segment’s efficiency in generating income from its asset base decreased significantly by 2023.

Overall Trends and Insights

The segment shows a consistent decline in income and return on assets over the three years with the income nearly halving from 2021 to 2023. Meanwhile, the total assets have increased, which suggests growing investment but declining efficiency and profitability. This combination points to challenges in operational performance or increased costs affecting returns despite asset growth.

The data reveals several trends in the financial performance and position of the segment over the years 2021 to 2023.

Income (loss) before income and mining tax and other items

This item shows a significant increase in 2021 compared to previous missing data points, reaching 818 million USD. However, there is a noticeable decline in the following years, with income dropping to 434 million USD in 2022 and stabilizing slightly at 432 million USD in 2023. This pattern indicates a sharp recovery or improvement in 2021 followed by a reduction to about half that level in subsequent years.

Total assets

Total assets peaked at 7584 million USD in 2021. Thereafter, a steady decline is observed, with assets decreasing to 7419 million USD in 2022 and further to 7401 million USD in 2023. This gradual reduction may reflect divestitures, depreciation, or other asset management activities within the segment.

Segment ROA (Return on Assets)

The return on assets follows a similar trajectory to income, with the highest value recorded in 2021 at 10.79%. Subsequent years witness a significant drop, with ROA falling to 5.85% in 2022 and maintaining a nearly consistent rate of 5.84% in 2023. The decline in ROA aligns with reduced income and slightly lower asset levels, indicating reduced efficiency or profitability relative to the asset base over time.

Overall, the segment experienced peak operational profitability and asset base performance in 2021, followed by declines in income, asset size, and returns through 2023. The stabilizing nature of financial ratios in the last two years suggests that the segment might have reached a new steady state after the 2021 peak.

Sales

Sales showed a slight decline over the two years of available data, decreasing marginally from 396 million USD to 333 million USD between 2021 and 2022. This downward movement mostly stabilized with a minimal further decrease to 332 million USD in 2023, indicating a period of relative stability at a slightly lower sales level compared to 2021.

Total Assets

Total assets depicted a considerable drop from 777 million USD in 2021 to 286 million USD in 2022. This sharp reduction was followed by a moderate recovery to 383 million USD in 2023. Despite this rebound, asset levels in 2023 remained significantly below those seen in 2021, suggesting asset base contraction and partial recuperation over the observed periods.

Segment Asset Turnover

The segment asset turnover ratio displayed noticeable volatility. In 2021, the ratio was 0.51, indicating moderate efficiency in asset utilization. This ratio surged to 1.16 in 2022, suggesting a marked improvement in generating sales from assets during that year. However, in 2023 the ratio decreased to 0.87, reflecting a decline in efficiency relative to 2022 but remaining higher than the level observed in 2021. This trend indicates fluctuating operational efficiency in managing assets to produce revenue.

Sales

Sales have shown a consistent upward trend from 277 million US dollars in 2021 to 351 million US dollars in 2023. This represents a significant increase over the three-year period, indicating improved revenue generation in the segment.

Total assets

Total assets have declined over the observed period, falling from 1317 million US dollars in 2021 to 1018 million US dollars in 2023. This downward trend suggests a reduction in the asset base, which could be due to asset sales, depreciation, or other factors affecting asset value.

Segment asset turnover

The segment asset turnover ratio has improved steadily, rising from 0.21 in 2021 to 0.34 in 2023. This indicates increased efficiency in utilizing assets to generate sales, reflecting better asset management or enhanced operational performance within the segment.

Sales

Sales figures for the segment remained relatively stable over the three-year period from 2021 to 2023, exhibiting a slight downward trend. Sales decreased marginally from 517 million US dollars in 2021 to 504 million in 2022, and then remained nearly unchanged at 503 million in 2023. This suggests a stabilization in revenue generation with minimal fluctuations during this timeframe.

Total Assets

The total assets of the segment displayed a declining trend from 2021 through 2022, dropping from 1,572 million US dollars to 1,401 million US dollars. However, in 2023, assets showed a moderate recovery, increasing to 1,473 million US dollars. This indicates some asset base contraction initially, followed by a partial rebound in the most recent year.

Segment Asset Turnover

Asset turnover ratios fluctuated slightly across the three years. Beginning at 0.33 in 2021, the ratio improved to 0.36 in 2022, reflecting enhanced efficiency in utilizing assets to generate sales. This was followed by a slight decline to 0.34 in 2023, indicating a minor reduction in asset utilization efficiency but still maintaining an overall stable performance level.

Sales Trend

Sales figures experienced a decline from 446 million US dollars at the end of 2021 to 391 million in 2022, followed by a notable recovery to 453 million in 2023, surpassing the previous peak. This indicates some volatility in sales performance with a strong rebound in the most recent period.

Total Assets Trend

Total assets showed a consistent decrease over the observed period, declining from 1062 million US dollars in 2021 to 1010 million in 2022 and further down to 777 million in 2023. This steady reduction suggests possible asset divestments, impairments, or decreased capital investment in the segment.

Segment Asset Turnover

The asset turnover ratio declined slightly from 0.42 in 2021 to 0.39 in 2022, indicating marginally reduced efficiency in using assets to generate sales. However, in 2023, the ratio increased significantly to 0.58, reflecting improved asset utilization. This improvement coincides with the sales recovery and lower asset base, suggesting enhanced operational efficiency or more aggressive asset management.

Overall Insights

Despite a reduction in total assets over the period, the segment demonstrated resilience in sales with a sharp recovery in 2023, which combined with a higher asset turnover ratio, points toward improved management of resources. The data indicates a strategic shift towards increasing operational efficiency and possibly adjusting asset structure to support sales growth.

Sales

Sales data is only available for the year ending December 31, 2023, with a reported value of US$32 million. No prior data exists for comparison, so trend analysis for sales cannot be determined.

Total Assets

Total assets for the segment are reported as US$2,178 million in 2023, with no preceding years' data provided. This limits the ability to assess asset growth or contraction over time.

Segment Asset Turnover

The segment asset turnover ratio is reported only for 2023 at 0.01. This low ratio indicates minimal sales generated per unit of asset base for that year. Without historical data, it is not feasible to analyze changes or efficiency trends.

Overall Observation

Given the lack of historical data prior to 2023, insights are limited to a snapshot view. The segment recorded modest sales relative to a large asset base, resulting in a low asset turnover measure. This might suggest underutilization of assets or a capital-intensive operation structure. Future data availability would be necessary to identify trends or improvements in operational efficiency.

The segment data for Brucejack, Canada, shows limited information over the years, with most metrics reported only for the year ended December 31, 2023.

Sales

Reported sales for the Brucejack segment reached 72 million US dollars in 2023. There are no recorded sales figures for the previous years from 2019 to 2022, indicating either missing data or that this segment did not report sales in those years.

Total assets

Total assets for the segment were reported as 4006 million US dollars in 2023. Similar to sales, there are no asset values provided for prior years, suggesting either the assets were acquired in 2023 or previous data is not available.

Segment asset turnover

The asset turnover ratio for 2023 stands at 0.02, a relatively low figure indicating that for each dollar of assets, the segment generated two cents in sales during the year. Due to lack of prior year data, no trend analysis is possible, but the low turnover suggests limited efficiency in utilizing assets to generate revenue.

Overall, the data reflects that the Brucejack segment either began reporting or significantly changed its financial profile in 2023. The sales and asset base are relatively substantial; however, the asset turnover ratio signals low asset utilization efficiency for that year. Without data from earlier periods, it is not possible to identify growth or improvement trends in operational performance.

The financial performance and asset utilization of the "Peñasquito, Mexico" reportable segment demonstrated notable fluctuations over the examined period.

Sales

Sales were not reported for 2019 and 2020 but became available from 2021 onward. In 2021, sales reached US$2,634 million, followed by a decrease to US$2,189 million in 2022, and a more pronounced decline to US$901 million in 2023. This downward trend indicates a significant reduction in revenue generation over the last three years.

Total assets

Total assets remained relatively stable between 2021 and 2022, slightly decreasing from US$6,561 million to US$6,430 million. However, in 2023, total assets declined substantially to US$4,738 million, suggesting either asset disposals, impairments, or other structural changes within the segment.

Segment asset turnover

The segment asset turnover ratio reflects efficiency in utilizing assets to generate sales. Starting from 0.4 in 2021, it decreased to 0.34 in 2022 and further diminished to 0.19 in 2023. This decreasing trend aligns with declining sales and shrinking asset base, highlighting progressively less effective use of assets in producing revenue.

Overall, the segment experienced a contraction in both sales and asset base in recent years, accompanied by a marked decline in asset efficiency. The data suggests challenges in sustaining revenue levels and operational effectiveness at Peñasquito during the period under review.

Sales Trend

Sales figures showed a peak in 2021 at 780 million US dollars, followed by a steady decline over the next two years, reducing to 723 million in 2022 and further to 625 million in 2023. This indicates a downward trend in revenue generation within the segment after 2021.

Total Assets Trend

Total assets decreased slightly from 952 million US dollars in 2021 to 923 million in 2022, then showed a marginal increase to 927 million in 2023. The overall asset base remained relatively stable with minor fluctuations during these years.

Segment Asset Turnover Ratio

The segment asset turnover ratio, which measures sales generated per unit of assets, declined consistently from 0.82 in 2021 to 0.78 in 2022 and further to 0.67 in 2023. This suggests decreasing efficiency in utilizing assets to generate sales over time.

Overall Insights

The data reveals a contraction in sales alongside a modestly stable asset base. The decreasing asset turnover ratio highlights a less effective use of assets in contributing to revenue, pointing to potential operational challenges or market conditions affecting this segment's performance during the analyzed period.

The segment's sales demonstrated a positive trajectory over the observed period. Starting from 2021, when recorded sales amounted to 480 million US dollars, the figure increased to 508 million US dollars in 2022, followed by a modest rise to 510 million US dollars in 2023. This progression indicates a consistent growth pattern in revenue generation.

Total assets experienced a decline during the same timeframe. From 2183 million US dollars in 2021, total assets decreased to 1659 million US dollars in 2022, and slightly further to 1646 million US dollars in 2023. This reduction suggests either asset disposals, revaluation, or reduced capital investment at the segment level.

The segment asset turnover ratio, indicative of asset efficiency in generating sales, improved notably between 2021 and 2022, rising from 0.22 to 0.31. This higher ratio was maintained at 0.31 in 2023, implying stabilized operational efficiency despite the decrease in total assets. The improvement in asset turnover ratio signifies enhanced utilization of assets to produce sales revenues.

Sales

Growth from 480 million US dollars (2021) to 510 million US dollars (2023)

Total assets

Decline from 2183 million US dollars (2021) to 1646 million US dollars (2023)

Segment asset turnover

Increase from 0.22 (2021) to 0.31 (2022), maintained at 0.31 (2023)

The segment data for the Yanacocha reportable segment reveals several notable trends over the reported periods from 2021 through 2023.

Sales

Sales figures show a fluctuation over the three years. Starting from US$471 million in 2021, sales decreased slightly to US$451 million in 2022 before rising significantly to US$537 million in 2023. This indicates a recovery and growth in sales towards the end of the observed period.

Total Assets

Total assets increased substantially from US$1,735 million in 2021 to US$2,225 million in 2022, followed by a marginal decrease to US$2,117 million in 2023. The sharp increase in 2022 suggests significant investments or asset acquisitions during that year, with a slight reduction in the following year indicating possible divestments or asset revaluation.

Segment Asset Turnover

The segment asset turnover ratio declined from 0.27 in 2021 to 0.20 in 2022, indicating reduced efficiency in generating sales from assets during that year. However, in 2023, the ratio improved to 0.25, reflecting better utilization of assets to generate sales compared to the prior year but still slightly below the 2021 level.

Overall, the data suggests a period of substantial asset growth in 2022, accompanied by decreasing sales efficiency. Despite a decrease in sales and efficiency metrics in 2022, the segment demonstrated resilience with a rebound in sales and improved asset turnover in 2023. This pattern may reflect strategic adjustments following major asset changes and an ability to optimize asset use over time.

The analysis of the Boddington, Australia reportable segment data reveals the following key trends over the period from 2021 to 2023:

Sales

Sales figures demonstrate a consistent upward trajectory. Starting from US$1,507 million in 2021, sales increased to US$1,763 million in 2022, representing a significant growth of approximately 17 percent. In 2023, sales continued to rise to US$1,814 million, albeit at a slower growth rate of around 2.9 percent compared to the previous year.

Total assets

Total assets showed relative stability with a slight increase over the analyzed period. The asset base stood at US$2,261 million in 2021 and remained nearly flat at US$2,264 million in 2022. In 2023, total assets increased modestly to US$2,376 million, reflecting a gradual expansion of approximately 4.9 percent from 2021 levels.

Segment asset turnover

The segment asset turnover ratio exhibited noticeable improvement over the three-year span. Beginning at 0.67 in 2021, this ratio rose to 0.78 in 2022, indicating enhanced efficiency in generating sales from assets. In 2023, the ratio slightly declined to 0.76 but remained significantly higher than the 2021 figure, suggesting the segment is maintaining a stronger asset utilization compared to the earlier period.

Overall, these trends indicate that the Boddington segment has experienced growth in revenue alongside a stable asset base, with improved efficiency in asset utilization contributing to higher sales levels. The segment appears to be managing its assets effectively to support sales growth, although the minor dip in asset turnover in the latest year suggests a potential area for monitoring going forward.

Sales Performance

Sales figures for the region remained relatively stable over the years 2021 to 2023, with a slight decrease from 879 million US dollars in 2021 to 867 million US dollars in 2023. This represents a marginal decline of approximately 1.4% over the three-year period, suggesting steady but slightly diminishing revenue generation within the segment.

Total Assets

The total assets associated with the segment displayed a consistent upward trend during the same period. Starting at 1,334 million US dollars in 2021, assets increased by 18.7% to 1,585 million US dollars in 2022, followed by a further increase of almost 20% to reach 1,896 million US dollars by the end of 2023. This growth indicates ongoing investment and expansion in the asset base for the segment.

Segment Asset Turnover

The segment asset turnover ratio, which indicates how efficiently the segment is utilizing its assets to generate sales, has experienced a marked decline. It decreased from 0.66 in 2021 to 0.46 in 2023. This represents a 30% reduction over the three-year span, implying that despite increasing assets, the sales generated per unit of asset have diminished, suggesting reduced operational efficiency or the impact of heavy capital investment not yet translating into proportional sales growth.

The financial data for the Cadia, Australia reportable segment over the available periods reveals limited data points, with complete observations only for the year ending December 31, 2023.

Sales

Sales are reported as US$422 million in 2023. Due to the absence of data for previous years, trend analysis or growth patterns cannot be assessed. This single data point, however, provides a baseline figure for sales performance in the latest year.

Total Assets

Total assets amount to US$6,351 million in 2023. The lack of historical asset values restricts the evaluation of asset growth, asset stability, or capital investment trends for the segment over time.

Segment Asset Turnover

The segment asset turnover ratio, calculated as sales divided by total assets, is reported as 0.07 for 2023. This ratio indicates that for every dollar invested in assets, the segment generated seven cents in sales during that year. Without prior years' ratios for comparison, it is not possible to determine whether asset utilization efficiency is improving, declining, or stable.

In summary, while the 2023 data provides a snapshot of the scale of sales and assets as well as the efficiency metric for the Cadia segment, the absence of historical data significantly limits the ability to identify trends or performance changes over time. Future data collection should prioritize consistent reporting to enable meaningful trend analyses and inform strategic decision-making.

Sales

Sales data is only available for the year ending December 31, 2023, with a recorded value of US$152 million. No earlier sales data is provided, so it is not possible to discern any trend or growth pattern over the preceding years.

Total assets

Total assets for the segment are reported exclusively for the year ending December 31, 2023, at US$574 million. The absence of preceding data points limits analysis of asset growth or changes over time.

Segment asset turnover

The segment asset turnover ratio, which measures sales generated per unit of assets, is only presented for December 31, 2023, at 0.26. Without historical data, it is not feasible to evaluate improvements or declines in asset efficiency in previous periods.

In summary, the available data for the Telfer, Australia segment is limited to the year 2023, encompassing sales, total assets, and segment asset turnover. Due to the absence of data from prior years, trend analysis or comprehensive assessment of performance dynamics over time is not achievable. The segment’s recorded sales and assets in 2023 provide a snapshot of size and scale but do not offer insight into changes or strategic shifts within the period under consideration.

The annual data for the Lihir, Papua New Guinea segment demonstrates very limited information over the analyzed period, with most of the financial indicators only available for the year ending December 31, 2023.

Sales

Sales were reported at US$266 million in 2023. Due to the absence of data for previous years, no trend analysis can be performed. The reported figure, however, provides a basis for evaluating future performance and operational scale for this segment starting from 2023 onward.

Total Assets

Total assets stood at US$3,909 million as of the end of 2023. Similar to sales, historical data is missing, preventing analysis of asset growth or contraction over time. The asset base size indicates a significant investment presence in this segment.

Segment Asset Turnover

The asset turnover ratio was reported at 0.07 for 2023. This low ratio suggests that the segment generated a relatively small amount of sales revenue compared to the asset base employed during that year. Without previous years’ figures, it is not possible to ascertain if this ratio is improving or deteriorating.

In summary, due to the lack of data across multiple years, only a snapshot of the 2023 financial position and performance is available. The 2023 figures show significant asset holdings and moderate sales, with a low asset turnover ratio indicating potentially underutilized assets or a capital-intensive operation. Further data will be required to conduct a comprehensive trend analysis or evaluate operational efficiency over time.

Sales

Sales showed a consistent upward trajectory over the three-year period from 2021 to 2023. Beginning at US$864 million in 2021, sales increased to US$1,023 million in 2022, representing an approximate growth of 18.4%. This positive momentum continued into 2023, with sales reaching US$1,130 million, indicating a further growth of around 10.5% from the previous year. The trend suggests a steady expansion of revenue within this segment.

Total Assets

Total assets experienced a sustained increase throughout the same timeframe. Assets rose from US$2,425 million in 2021 to US$2,619 million in 2022, marking an 8.0% increase. This growth persisted into 2023, with total assets further climbing to US$2,823 million, reflecting an additional increase of about 7.8%. The consistent growth in asset base implies ongoing investment or asset retention in the segment.

Segment Asset Turnover

The segment asset turnover ratio, which measures sales generated per unit of asset, displayed a gradual but steady increase. It improved from 0.36 in 2021 to 0.39 in 2022, followed by a slight increase to 0.40 in 2023. This incremental rise indicates improved efficiency in utilizing the asset base to generate sales over the observed period.

Overall Insights

The data reflects a positive operational trend characterized by growing sales alongside an expanding asset base. Importantly, the rising asset turnover ratio suggests enhancements in asset utilization efficiency, contributing to sales growth that outpaces the relative increase in assets. This combination signals potentially effective management of resources and favorable market conditions for the segment.

Sales

Sales experienced an increase from 680 million US dollars in 2021 to 749 million US dollars in 2022, indicating a growth in revenue during this period. However, in 2023, sales declined to 574 million US dollars, reflecting a notable decrease compared to the previous year.

Total assets

Total assets showed a steady upward trend over the observed years. The asset base increased from 990 million US dollars in 2021 to 998 million in 2022, followed by a more significant rise to 1,069 million US dollars in 2023. This consistent increase suggests ongoing investment or asset accumulation within the segment.

Segment asset turnover

The segment asset turnover ratio, measuring the efficiency of asset utilization to generate sales, increased from 0.69 in 2021 to 0.75 in 2022. This improvement suggests more effective use of assets in producing revenue during that year. However, in 2023, the ratio dropped sharply to 0.54, indicating reduced efficiency in asset use despite the growth in total assets during that period.

Overall Analysis

The segment experienced growth in sales and asset base from 2021 to 2022, coupled with improved asset efficiency. However, in 2023, despite continued asset growth, sales declined and asset turnover ratio decreased substantially. This pattern suggests that while investments in assets continued, the segment faced challenges in generating revenue from those assets efficiently in the latest year.

Sales

Sales figures are available from December 31, 2021, onward. Initially, sales were recorded at 2,291 million US dollars in 2021, followed by a decline to 2,098 million US dollars in 2022, representing a decrease. However, in 2023, sales rebounded to 2,271 million US dollars, nearly reaching the 2021 level. This indicates a partial recovery after the dip in 2022.

Total Assets

Total assets exhibit a slight downward trend over the three-year period from 2021 to 2023. The total assets were 7,584 million US dollars in 2021 and decreased to 7,419 million in 2022, then further decreased marginally to 7,401 million in 2023. This shows a gradual reduction in the asset base over the period under review.

Segment Asset Turnover

The segment asset turnover ratio follows a similar pattern to sales, declining from 0.3 in 2021 to 0.28 in 2022, indicating a decrease in efficiency in using assets to generate sales. In 2023, the ratio improved to 0.31, surpassing the 2021 level. This suggests enhanced asset utilization efficiency in 2023 compared to previous years.

Capital Expenditures

Capital expenditures show a clear upward trend over the observed periods, increasing from 42 million US dollars in 2021 to 44 million in 2022, followed by a more substantial rise to 64 million in 2023. This indicates a significant increase in investment in capital assets, particularly notable in the latest period.

Depreciation and Amortization

Depreciation and amortization expenses experienced a moderate increase from 66 million US dollars in 2021 to 71 million in 2022, but then declined sharply to 23 million in 2023. This sharp decrease may suggest a change in accounting estimates, asset base, or operational activity reductions during the latest year.

Segment Capital Expenditures to Depreciation Ratio

The ratio of segment capital expenditures to depreciation was relatively stable around 0.64 in 2021 and 0.62 in 2022, indicating capital expenditures were slightly less than depreciation charges during these years. However, in 2023, this ratio surged dramatically to 2.78, reflecting that capital expenditures substantially exceeded depreciation and amortization expenses. This shift suggests a phase of considerable asset investment relative to asset consumption or write-downs.

Capital Expenditures

The capital expenditures for the segment show a marked increase over the observed period. Starting from US$39 million in 2021, capital expenditures rose to US$54 million in 2022 and then more sharply to US$104 million in 2023. This indicates a growing investment trend in the segment, with the expenditure in 2023 being more than double that in 2021.

Depreciation and Amortization

Depreciation and amortization figures have remained relatively stable across the three years reported. The values were US$80 million in 2021, slightly decreased to US$79 million in 2022, and returned to US$80 million in 2023. This stability suggests consistent asset usage or a steady state in the asset base that is subject to depreciation.

Segment Capital Expenditures to Depreciation Ratio

The ratio of segment capital expenditures to depreciation has demonstrated an upward trend. It was 0.49 in 2021, increased to 0.68 in 2022, and almost doubled to 1.3 in 2023. A ratio above 1 in 2023 indicates that capital expenditures exceeded depreciation expenses, signaling increased investment in new or replacement assets relative to the rate at which assets are being depreciated.

The segment data over the period from December 31, 2019, to December 31, 2023, reveals several notable trends in capital expenditures, depreciation and amortization, and their interrelated ratio.

Capital Expenditures

Capital expenditures were not reported for the years 2019 through 2021; however, a significant increase is observable starting from 2022, with expenditures rising from 68 million US dollars to 152 million in 2023, followed by a further increase to 166 million in 2023. This upward trajectory suggests a growing investment in assets or development projects within the segment during the latter part of the period.

Depreciation and Amortization

Similar to capital expenditures, depreciation and amortization figures are missing for 2019 to 2021 but show an increasing trend from 2022 onwards. Values recorded are 91 million US dollars in 2021, ascending to 104 million in 2022, and further to 117 million in 2023. The increase indicates ongoing asset usage and the allocation of expenses related to previously acquired capital assets.

Segment Capital Expenditures to Depreciation Ratio

The ratio between segment capital expenditures and depreciation shows a notable change over the years reported. Initially, in 2021, the ratio was 0.75, indicating that capital expenditures were less than depreciation and amortization expenses. In 2022, this ratio almost doubled to 1.46, signaling that capital expenditures significantly exceeded depreciation, which could imply ramped-up investment exceeding asset consumption. The ratio slightly declined in 2023 to 1.42 but remained well above one, confirming sustained high investment relative to depreciation.

Overall, these trends suggest that the segment has transitioned into a phase of increased capital investment over the latest three years, accompanied by steadily rising depreciation and amortization expenses. The capital expenditures consistently outpacing depreciation in the most recent years reflects a strategic emphasis on asset growth or replacement beyond the rate of asset consumption.

Capital expenditures

Capital expenditures showed a notable upward trend over the analyzed period. Starting at 46 million US dollars in 2021, the figure increased to 60 million in 2022 and surged further to 106 million by the end of 2023. This indicates a significant escalation in investments in capital assets within the segment.

Depreciation and amortization

Depreciation and amortization expenses decreased steadily throughout the same timeframe. The amount declined from 139 million US dollars in 2021 to 115 million in 2022 and further to 101 million in 2023. This reduction could reflect a decrease in the carrying value of tangible and intangible assets or changes in accounting estimates.

Segment capital expenditures to depreciation ratio

The ratio of capital expenditures to depreciation exhibited a rising trend, moving from 0.33 in 2021 to 0.52 in 2022, and reaching 1.05 in 2023. This indicates that the segment began investing more in capital assets relative to the level of asset depreciation. A ratio above 1 suggests increased capital spending that potentially enhances or expands the asset base beyond merely replacing depreciated assets.

Capital Expenditures

Capital expenditures data is available only for the year ending December 31, 2023, reporting an amount of 25 million US dollars. There are no recorded values for the earlier years from 2019 to 2022, indicating either a lack of capital investment during these years or unavailability of data.

Depreciation and Amortization

Similar to capital expenditures, depreciation and amortization figures are provided exclusively for 2023, at a value of 4 million US dollars. The absence of data for prior years limits the ability to assess trends or changes in asset depreciation over time.

Segment Capital Expenditures to Depreciation Ratio

The ratio of segment capital expenditures to depreciation for 2023 is 6.25. This suggests that the segment’s investment in capital assets significantly exceeds the current depreciation expense, implying either recent substantial asset additions or a focus on enhancing the asset base during the reported year. Due to the lack of historical ratio data, no trend analysis can be performed.

The financial data for the Brucejack segment of Newmont Corp. indicates limited available information for the periods prior to 2023, with values reported only in the year ending December 31, 2023.

Capital Expenditures

Capital expenditures were recorded at 22 million US dollars in 2023. No data is presented for the preceding years, suggesting either no expenditures occurred or data was not reported for those periods.

Depreciation and Amortization

Depreciation and amortization expenses also stand at 22 million US dollars for 2023. Similar to capital expenditures, earlier years have no reported figures, limiting trend analysis over time.

Segment Capital Expenditures to Depreciation Ratio

The ratio of capital expenditures to depreciation is reported as 1 for 2023. This implies that the segment invested an amount equivalent to its depreciation and amortization expenses during this period, indicating a potential maintenance or steady reinvestment level in the asset base.

Given the absence of historical data before 2023, it is difficult to ascertain longer-term trends or fluctuations in investment and amortization patterns. For 2023, the matching levels of capital expenditures and depreciation suggest the segment maintained its asset base without significant expansion or contraction during the reporting period.

Capital expenditures

Capital expenditures in the segment showed a peak in 2020 at 183 million US dollars, followed by a significant decline to 113 million US dollars in 2023. The data preceding 2020 is not available, thus trends before that year cannot be assessed.

Depreciation and amortization

Depreciation and amortization expenses decreased consistently from 521 million US dollars in 2020 to 351 million US dollars in 2023. This indicates a reduction in the capital asset base subject to depreciation or changes in accounting estimates over the observed period.

Segment capital expenditures to depreciation ratio

The ratio of capital expenditures to depreciation demonstrates volatility, increasing from 0.28 in 2020 to 0.43 in 2022 before declining again to 0.32 in 2023. This pattern suggests varying investment intensity relative to the asset depreciation during the reported years.

Capital expenditures

Capital expenditures have shown a continuous increase over the last three reported years, rising from 47 million US dollars in 2021 to 56 million in 2022, and reaching 84 million in 2023. This upward trend indicates a growing investment in the segment's assets or capacity expansion.

Depreciation and amortization

Depreciation and amortization expenses decreased from 98 million US dollars in 2021 to 80 million in 2022. In 2023, these expenses slightly increased to 82 million. Overall, the trend shows some volatility but a general decline compared to 2021 levels.

Segment capital expenditures to depreciation ratio

The ratio of capital expenditures to depreciation has increased notably over the period. It rose from 0.48 in 2021 to 0.70 in 2022 and then exceeded parity at 1.02 in 2023. This change suggests that investments in capital assets have grown to surpass the annual depreciation expense, potentially indicating asset base expansion or renewal efforts.

Capital Expenditures

Capital expenditures have shown a consistent upward trend over the observed periods, increasing from 108 million US dollars in 2021 to 132 million in 2022, and further to 162 million in 2023. This indicates a growing investment in fixed assets or project developments within the segment.

Depreciation and Amortization

Depreciation and amortization expenses rose from 137 million US dollars in 2021 to 148 million in 2022, before decreasing back to 137 million in 2023. The initial increase suggests higher asset base or intensified depreciation charges that year, followed by a return to prior levels, which may imply stabilization in asset utilization or reduced amortization rates.

Segment Capital Expenditures to Depreciation Ratio

The ratio increased steadily, moving from 0.79 in 2021 to 0.89 in 2022, and reaching 1.18 in 2023. The ratio crossing above 1.0 indicates that capital expenditures have surpassed depreciation and amortization expenses in 2023, reflecting net asset growth and potentially expanding operational capacity within the segment.

The financial data for the Yanacocha, Peru segment over the years 2021 to 2023 exhibits notable fluctuations in capital expenditures, depreciation and amortization, and the ratio of capital expenditures to depreciation.

Capital Expenditures

Capital expenditures increased significantly from 171 million US dollars in 2021 to a peak of 439 million US dollars in 2022, followed by a decline to 312 million US dollars in 2023. This pattern suggests a substantial investment phase in 2022, possibly tied to project expansions or upgrades, followed by a reduction in spending in the subsequent year.

Depreciation and Amortization

Depreciation and amortization showed a consistent downward trend, decreasing from 111 million US dollars in 2021 to 95 million in 2022, and further to 85 million in 2023. This decline could indicate aging assets reaching the end of their depreciation schedules or reduced capital asset additions in earlier periods affecting amortization levels.

Segment Capital Expenditures to Depreciation Ratio

The ratio of capital expenditures to depreciation stood at 1.54 in 2021, then surged to 4.62 in 2022, before settling at 3.67 in 2023. The pronounced increase in 2022 reflects the elevated capital expenditure relative to depreciation, highlighting a period of heightened investment relative to asset consumption. Though the ratio decreased in 2023, it remained substantially above the 2021 level, indicating continued, albeit moderated, investment activity surpassing depreciation.

In summary, the segment underwent a notable expansion phase in 2022, as evidenced by increased capital expenditures, while depreciation expenses steadily declined over the observed period. The capital expenditure to depreciation ratio confirms that asset investments significantly outpaced asset consumption during this time, although investment intensity lessened in 2023 compared to the prior year.

Capital Expenditures

From 2021 to 2023, capital expenditures at the segment display considerable variability. In 2021, the expenditures amounted to 174 million USD, followed by a pronounced decrease to 72 million USD in 2022. Subsequently, there was a significant rebound to 164 million USD in 2023. This pattern suggests fluctuations in investment activities, possibly aligned with operational needs or strategic shifts.

Depreciation and Amortization

Depreciation and amortization expenses demonstrated an upward trend from 122 million USD in 2021 to 152 million USD in 2022. However, in 2023, the expense slightly declined to 143 million USD. This trajectory indicates an increase in asset wear or amortization of intangible assets until 2022, with a modest reduction thereafter.

Segment Capital Expenditures to Depreciation Ratio

The ratio of capital expenditures to depreciation experienced notable fluctuations over the three years. In 2021, the ratio was relatively high at 1.43, indicating capital investments exceeded depreciation. In 2022, this ratio dropped sharply to 0.47, pointing to capital expenditures being less than half of depreciation costs. By 2023, the ratio recovered to 1.15, signaling a return to capital spending above depreciation levels, though not as elevated as in 2021. These variations reflect changing investment intensity relative to asset consumption.

The financial data for the Tanami segment over the reviewed years reveals several key trends in capital expenditures, depreciation and amortization, and the ratio of capital expenditures to depreciation.

Capital Expenditures

Capital expenditures began being reported in 2021, with an initial value of US$304 million. From 2021 to 2023, capital expenditures demonstrated a consistent upward trend, increasing to US$343 million in 2022 and further to US$413 million in 2023. This steady increase indicates intensified investment activities within the segment over these years.

Depreciation and Amortization

This expense also started to be reported from 2021 onwards, beginning at US$100 million. Depreciation and amortization remained relatively stable between 2021 and 2022, with a slight increase from US$100 million to US$101 million. In 2023, the figure rose further to US$110 million, reflecting a moderate increase likely related to the asset base and capital investment growth.

Segment Capital Expenditures to Depreciation Ratio

The ratio of capital expenditures to depreciation shows an increasing pattern from 3.04 in 2021 to 3.4 in 2022, reaching 3.75 in 2023. This ratio indicates that capital investment significantly exceeds the level of depreciation expenses, with the gap widening over time. Such a trend suggests sustained asset growth and reinvestment in the segment's infrastructure.

In summary, the Tanami segment exhibits a pattern of increasing capital commitments coupled with controlled yet rising depreciation costs. The rising capital expenditure to depreciation ratio underscores an expansionary phase with substantial reinvestment, which may contribute to future operational capacity and asset longevity.

Capital Expenditures

The capital expenditures reported for the most recent period, December 31, 2023, stands at 75 million US dollars. There is no data available for the previous years, which limits the ability to analyze trends over time. However, the figure for 2023 indicates a significant investment in the segment during that year.

Depreciation and Amortization

Depreciation and amortization expense is reported only for December 31, 2023, with a value of 30 million US dollars. As with capital expenditures, the absence of prior year figures prevents a multi-year trend analysis. The 2023 value serves as a basis for calculating related ratios.

Segment Capital Expenditures to Depreciation Ratio

The ratio of segment capital expenditures to depreciation is reported as 2.5 for December 31, 2023. This ratio implies that capital investments were two and a half times the amount of depreciation and amortization expense in that year, suggesting a phase of growth or asset base expansion in the segment during 2023.

The data for the Telfer, Australia segment from 2019 to 2023 shows limited information, with values primarily available for 2023. Capital expenditures recorded in 2023 amounted to 9 million US dollars, while depreciation and amortization expenses for the same year totaled 7 million US dollars. The ratio of segment capital expenditures to depreciation stood at 1.29 in 2023.

This ratio above one indicates that the segment's investment in capital assets exceeded the depreciation charge, suggesting ongoing asset growth or replacement activity during 2023. The absence of historical data for prior years restricts any detailed trend analysis over the given period. However, the available figures imply a period of capital investment outpacing asset consumption in the most recent year.

Capital Expenditures

The capital expenditures showed activity only in the most recent period, reaching US$53 million by the end of 2023. No data or expenditures were reported for the previous years from 2019 to 2022, indicating a potential investment spike or project initiation in 2023.

Depreciation and Amortization

Depreciation and amortization were reported solely in 2023, totaling US$20 million. This absence of data in prior years suggests that either the assets began depreciating recently or that reporting was newly introduced or differentiated in this period.

Segment Capital Expenditures to Depreciation Ratio

For 2023, the capital expenditures to depreciation ratio stood at 2.65. This relatively high ratio implies that capital investments considerably exceeded the depreciation charges, which may indicate asset expansion, modernization, or a shift toward increased productive capacity within the segment.

Overall Trends and Insights

The data reflects a distinct increase in investment activity in 2023 compared to previous years, marked by the initiation or reporting of capital expenditures and depreciation. The substantial capital expenditures relative to depreciation suggest a phase of asset growth or renewal. The lack of prior years' data limits the observation of longer-term trends but highlights a significant shift in financial activity within the latest period under review.

The financial data for the Ahafo segment in Ghana reveals important trends and developments in the recent years from 2021 to 2023. There is no available information for the years 2019 and 2020.

Capital Expenditures

Capital expenditures have shown consistent growth over the three-year period. Starting at US$ 213 million in 2021, expenditures increased to US$ 268 million in 2022 and further to US$ 310 million in 2023. This upward trend suggests increased investment and continuing development in the segment.

Depreciation and Amortization

Depreciation and amortization expenses also rose steadily over the same period. From US$ 143 million in 2021, these expenses increased to US$ 167 million in 2022 and US$ 181 million in 2023. The increase reflects the segment’s growing asset base and capital investments coming into productive use.

Segment Capital Expenditures to Depreciation Ratio

The ratio of capital expenditures to depreciation has increased from 1.49 in 2021 to 1.6 in 2022 and to 1.71 in 2023. A rising ratio indicates that capital investments are outpacing asset depreciation, signaling potential expansion or enhancement of operational capacity within the segment.

Overall, the data indicate a clear pattern of growth-focused capital investment in the Ahafo segment. The steady increase in both capital expenditures and depreciation suggests that new assets are being acquired and integrated regularly, supporting long-term operational capacity. The increasing ratio of capital expenditures to depreciation further confirms expansion dynamics, reflecting an overall strategic commitment to the segment’s development.

Capital expenditures

Capital expenditures were recorded starting in 2021, with an amount of 66 million US dollars. Following this peak, the expenditures declined to 34 million US dollars in 2022 but increased slightly to 40 million US dollars in 2023. This trend indicates a significant reduction after an initial higher investment in 2021, followed by a moderate rise in 2023, suggesting a possible shift in investment strategy or project completion phase.

Depreciation and amortization

Depreciation and amortization showed an increasing trend from 120 million US dollars in 2021 to a peak of 141 million US dollars in 2022, before declining to 122 million US dollars in 2023. This pattern suggests that the asset base experienced growth leading up to 2022, with a subsequent decrease in amortization charges in 2023, potentially reflecting asset retirements or a reassessment of asset useful lives.

Segment capital expenditures to depreciation ratio

The ratio of capital expenditures to depreciation exhibits a downward trend from 0.55 in 2021 to a low of 0.24 in 2022, and then a slight recovery to 0.33 in 2023. This decline implies that capital spending was insufficient to keep pace with depreciation during 2022, which may have impacted asset renewal or expansion. The partial recovery in 2023 indicates a modest improvement in investment relative to asset wear and tear.

Capital Expenditures

Capital expenditures were not reported for the years 2019 through 2021. Beginning in 2022, there was a notable increase from 234 million US dollars to 308 million US dollars, followed by a further significant rise to 472 million US dollars in 2023. This indicates an increasing investment trend in capital assets within the segment over the most recent years.

Depreciation and Amortization

Depreciation and amortization figures also start reporting from 2021 with 550 million US dollars. A downward trend is observed, decreasing to 471 million US dollars in 2022 and further to 452 million US dollars in 2023. This decline suggests either a reduction in depreciable asset base or changes in amortization schedules.

Segment Capital Expenditures to Depreciation Ratio

This ratio, reflecting capital expenditure relative to depreciation, exhibits a strong upward trend. It rose from 0.43 in 2021 to 0.65 in 2022 and reached 1.04 in 2023. The increase above 1.0 in 2023 indicates that capital expenditures exceeded depreciation, implying a net growth in the segment's asset base during this period.