NEWMONT CORP /DE/, 10-K filed on 2/24/2022
Annual Report
v3.22.0.1
Cover - USD ($)
 12 Months Ended
Dec. 31, 2021
Feb. 17, 2022
Jun. 30, 2021
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2021    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-31240    
Entity Registrant Name NEWMONT CORPORATION    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 84-1611629    
Entity Address, Address Line One 6900 E Layton Ave    
Entity Address, City or Town Denver    
Entity Address, State or Province CO    
Entity Address, Postal Zip Code 80237    
City Area Code (303)    
Local Phone Number 863-7414    
Title of 12(b) Security Common stock, par value $1.60 per share    
Trading Symbol NEM    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
ICFR Auditor Attestation Flag true    
Entity Public Float     $ 50,629,300,966
Entity Common Stock, Shares Outstanding   792,502,327  
Documents Incorporated by Reference Portions of Registrant’s definitive Proxy Statement for the Registrant’s 2022 Annual Stockholders Meeting will be filed no later than 120 days after the close of the Registrant's fiscal year ended December 31, 2021, are incorporated by reference into Part III of this report.    
Entity Central Index Key 0001164727    
Amendment Flag false    
Document Fiscal Year Focus 2021    
Document Fiscal Period Focus FY    
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Audit Information
 12 Months Ended
Dec. 31, 2021
Auditor [Line Items]  
Auditor Firm ID 42
Auditor Name Ernst & Young LLP
Auditor Location Denver, Colorado
PricewaterhouseCoopers LLP  
Auditor [Line Items]  
Auditor Firm ID 271
Auditor Name PricewaterhouseCoopers LLP
Auditor Location Toronto, Canada
v3.22.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]      
Sales (Note 5) $ 12,222 $ 11,497 $ 9,740
Costs and expenses:      
Costs applicable to sales [1] 5,435 5,014 5,195
Depreciation and amortization 2,323 2,300 1,960
Reclamation and remediation (Note 6) 1,846 366 280
Exploration 209 187 265
Advanced projects, research and development 154 122 150
General and administrative 259 269 313
Care and maintenance (Note 7) 8 178 0
Loss on assets held for sale (Note 8) 571 0 0
Other expense, net (Note 9) 160 255 300
Total costs and expenses 10,965 8,691 8,463
Other income (expense):      
Gain on formation of Nevada Gold Mines (Note 1) 0 0 2,390
Gain on asset and investment sales, net (Note 10) 212 677 30
Other income (loss), net (Note 11) (87) (32) 297
Interest expense, net of capitalized interest of $38, $24 and $26, respectively (274) (308) (301)
Total other income (expense) (149) 337 2,416
Income (loss) before income and mining tax and other items 1,108 3,143 3,693
Income and mining tax benefit (expense) (Note 12) (1,098) (704) (832)
Equity income (loss) of affiliates (Note 16) 166 189 95
Net income (loss) from continuing operations 176 2,628 2,956
Net income (loss) from discontinued operations (Note 1) 57 163 (72)
Net income (loss) 233 2,791 2,884
Net loss (income) attributable to noncontrolling interests (Note 1) 933 38 (79)
Net income (loss) attributable to Newmont stockholders 1,166 2,829 2,805
Net income (loss) attributable to Newmont stockholders:      
Continuing operations 1,109 2,666 2,877
Discontinued operations 57 163 (72)
Net income (loss) attributable to Newmont stockholders $ 1,166 $ 2,829 $ 2,805
Weighted average common shares:      
Basic (in shares) 799 804 735
Effect of employee stock-based awards (in shares) 2 2 2
Diluted (in shares) 801 806 737
Basic:      
Continuing operations (in dollars per share) $ 1.39 $ 3.32 $ 3.92
Discontinued operations (in dollars per share) 0.07 0.20 (0.10)
Net income (loss) per common share, basic (in dollars per share) 1.46 3.52 3.82
Diluted:      
Continuing operations (in dollars per share) 1.39 3.31 3.91
Discontinued operations (in dollars per share) 0.07 0.20 (0.10)
Net income (loss) per common share, diluted (in dollars per share) $ 1.46 $ 3.51 $ 3.81
[1] Excludes Depreciation and amortization and Reclamation and remediation.
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CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]      
Capitalized interest $ 38 $ 24 $ 26
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Statement of Comprehensive Income [Abstract]      
Net income (loss) $ 233 $ 2,791 $ 2,884
Other comprehensive income (loss):      
Change in marketable securities, net of tax of $—, $— and $—, respectively 2 (5) 5
Foreign currency translation adjustments  2 (2) 1
Change in pension and other post-retirement benefits, net of tax of $(13), $(11) and $—, respectively 71 44 (19)
Change in fair value of cash flow hedge instruments, net of tax of $(5), $(3) and $(2), respectively 8 12 32
Other comprehensive income (loss) 83 49 19
Comprehensive income (loss) 316 2,840 2,903
Comprehensive income (loss) attributable to:      
Newmont stockholders  1,249 2,878 2,824
Noncontrolling interests (933) (38) 79
Comprehensive income (loss) $ 316 $ 2,840 $ 2,903
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Statement of Comprehensive Income [Abstract]      
Change in marketable securities, tax $ 0 $ 0 $ 0
Change in pension and other post-retirement benefits, tax (13) (11) 0
Change in fair value of cash flow hedge instruments, tax $ (5) $ (3) $ (2)
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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income (loss) $ 233 $ 2,791 $ 2,884
Adjustments:      
Depreciation and amortization 2,323 2,300 1,960
Loss on assets held for sale (Note 8) 571 0 0
Gain on formation of Nevada Gold Mines (Note 1) 0 0 (2,390)
Gain on asset and investment sales, net (Note 10) (212) (677) (30)
Net loss (income) from discontinued operations (Note 1) (57) (163) 72
Reclamation and remediation 1,827 353 258
Change in fair value of investments (Note 11) 135 (252) (166)
Stock-based compensation (Note 14) 72 72 97
Deferred income taxes (Note 12) (109) (222) 334
Other non-cash adjustments 24 393 166
Net change in operating assets and liabilities (Note 25) (541) 295 (309)
Net cash provided by (used in) operating activities of continuing operations 4,266 4,890 2,876
Net cash provided by (used in) operating activities of discontinued operations (Note 1) 13 (8) (10)
Net cash provided by (used in) operating activities 4,279 4,882 2,866
Investing activities:      
Additions to property, plant and mine development (1,653) (1,302) (1,463)
Acquisitions, net [1] (328) 0 127
Proceeds from sales of investments 194 307 67
Contributions to equity method investees (150) (60) (28)
Purchases of investments (59) (37) (112)
Return of investment from equity method investees 18 58 132
Proceeds from sales of mining operations and other assets, net 84 1,156 30
Other  26 44 21
Net cash provided by (used in) investing activities of continuing operations (1,868) 166 (1,226)
Net cash provided by (used in) investing activities of discontinued operations (Note 1) 0 (75) 0
Net cash provided by (used in) investing activities (1,868) 91 (1,226)
Financing activities:      
Dividends paid to common stockholders (1,757) (834) (889)
Repayment of debt  (1,382) (1,160) (1,876)
Proceeds from issuance of debt, net 992 985 690
Repurchases of common stock (Note 2) (525) (521) (479)
Distributions to noncontrolling interests (200) (197) (186)
Funding from noncontrolling interests 100 112 93
Payments on lease and other financing obligations (73) (66) (55)
Payments for withholding of employee taxes related to stock-based compensation (32) (48) (50)
Other (81) 49 (25)
Net cash provided by (used in) financing activities (2,958) (1,680) (2,777)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (8) 6 (3)
Net change in cash, cash equivalents and restricted cash (555) 3,299 (1,140)
Cash, cash equivalents and restricted cash at beginning of period  5,648 2,349 3,489
Cash, cash equivalents and restricted cash at end of period  5,093 5,648 2,349
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 4,992 5,540 2,243
Restricted cash included in Other current assets 2 2 2
Restricted cash included in Other non-current assets 99 106 104
Total cash, cash equivalents and restricted cash 5,093 5,648 2,349
Supplemental cash flow information:      
Income and mining taxes paid, net of refunds 1,534 400 437
Interest paid, net of amounts capitalized $ 229 $ 261 $ 273
[1] Acquisitions, net for the year ended December 31, 2021 is primarily related to the asset acquisition of the remaining 85.1% of GT Gold Corporation (“GT Gold”). Refer to Note 1 for additional information. For the year ended December 31, 2019, Acquisitions, net is comprised of $117 cash and cash equivalents acquired, $21 restricted cash acquired, net of $17 cash paid in the Newmont Goldcorp transaction and $6 of restricted cash acquired in the formation of Nevada Gold Mines.
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CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)
$ in Millions
 12 Months Ended
Dec. 31, 2019
USD ($)
Cash paid to Goldcorp shareholders $ 17
Goldcorp  
Cash acquired from acquisition, unrestricted 117
Cash acquired from acquisition, restricted 21
NGM  
Cash acquired from acquisition, restricted $ 6
v3.22.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
ASSETS    
Cash and cash equivalents $ 4,992 $ 5,540
Trade receivables (Note 5) 337 449
Investments (Note 16) 82 290
Inventories (Note 17) 930 963
Stockpiles and ore on leach pads (Note 18) 857 827
Other current assets 498 436
Current assets 7,696 8,505
Property, plant and mine development, net (Note 19) 24,124 24,281
Investments (Note 16) 3,243 3,197
Stockpiles and ore on leach pads (Note 18) 1,775 1,705
Deferred income tax assets (Note 12) 269 337
Goodwill (Note 20) 2,771 2,771
Other non-current assets 686 573
Total assets 40,564 41,369
LIABILITIES    
Accounts payable 518 493
Employee-related benefits (Note 13) 386 380
Income and mining taxes 384 657
Current lease and other financing obligations (Note 22) 106 106
Debt (Note 21) 87 551
Other current liabilities (Note 23) 1,173 1,182
Current liabilities 2,654 3,369
Debt (Note 21) 5,565 5,480
Lease and other financing obligations (Note 22) 544 565
Reclamation and remediation liabilities (Note 6) 5,839 3,818
Deferred income tax liabilities (Note 12) 2,144 2,073
Employee-related benefits (Note 13) 439 493
Silver streaming agreement (Note 5) 910 993
Other non-current liabilities (Note 23) 608 699
Total liabilities 18,703 17,490
Contingently redeemable noncontrolling interest 48 34
EQUITY    
Common stock 1,276 1,287
Treasury stock - 5 million and 4 million shares, respectively (200) (168)
Additional paid-in capital 17,981 18,103
Accumulated other comprehensive income (loss) (Note 24) (133) (216)
Retained earnings 3,098 4,002
Newmont stockholders' equity 22,022 23,008
Noncontrolling interests (209) 837
Total equity 21,813 23,845
Total liabilities and equity $ 40,564 $ 41,369
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CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Dec. 31, 2021
Dec. 31, 2020
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 1.60 $ 1.60
Common stock, authorized (in shares) 1,280,000,000 1,280,000,000
Common stock, outstanding (in shares) 792,000,000 800,000,000
Treasury shares (in shares) 5,000,000 4,000,000
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Cumulative Effect, Period of Adoption, Adjustment
Common Stock
Treasury Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Noncontrolling Interests
Balance at beginning of period (in shares) at Dec. 31, 2018     535.0 (2.0)          
Balance at beginning of period at Dec. 31, 2018 $ 11,465 $ (9) $ 855 $ (70) $ 9,618 $ (284) $ 383 $ (9) $ 963
Changes in Equity                  
Accounting Standards Update [Extensible List] Accounting Standards Update 2016-13 [Member]                
Net income (loss) $ 2,884           2,805   79
Other comprehensive income (loss) 19         19      
Shares issued and other non-cash consideration for Goldcorp acquisition (in shares)     285.0            
Shares issued and other non-cash consideration for Goldcorp acquisition 9,429   $ 457   8,972        
Dividends declared (895)       (205)   (690)    
Distributions declared to noncontrolling interests (187)               (187)
Cash calls requested from noncontrolling interests $ 95               95
Repurchase and retirement of common stock (in shares) (12.0)   (12.0)            
Repurchase and retirement of common stock $ (479)   $ (19)   (265)   (195)    
Cancellation of shares due to the expiration of certain exchange rights $ 1       4   (3)    
Withholding of employee taxes related to stock-based compensation (in shares) (1.4)     (1.0)          
Withholding of employee taxes related to stock-based compensation $ (50)     $ (50)          
Stock-based awards and related share issuances (in shares)     3.0            
Stock-based awards and related share issuances 97   $ 5   92        
Balance at end of period (in shares) at Dec. 31, 2019     811.0 (3.0)          
Balance at end of period at Dec. 31, 2019 22,370 $ (5) $ 1,298 $ (120) 18,216 (265) 2,291 $ (5) 950
Contingently redeemable noncontrolling interest, Balance at beginning of period at Dec. 31, 2018 47                
Contingently redeemable noncontrolling interest, Balance at end of period at Dec. 31, 2019 47                
Changes in Equity                  
Net income (loss) 2,804           2,829   (25)
Other comprehensive income (loss) 49         49      
Dividends declared (839)           (839)    
Distributions declared to noncontrolling interests (198)               (198)
Cash calls requested from noncontrolling interests $ 110               110
Repurchase and retirement of common stock (in shares) (10.0)   (10.0)            
Repurchase and retirement of common stock $ (521)   $ (17)   (230)   (274)    
Withholding of employee taxes related to stock-based compensation (in shares) (1.0)     (1.0)          
Withholding of employee taxes related to stock-based compensation $ (48)     $ (48)          
Stock options exercised (in shares)     1.0            
Stock options exercised 51   $ 2   49        
Stock-based awards and related share issuances (in shares)     2.0            
Stock-based awards and related share issuances $ 72   $ 4   68        
Balance at end of period (in shares) at Dec. 31, 2020 800.0   804.0 (4.0)          
Balance at end of period at Dec. 31, 2020 $ 23,845   $ 1,287 $ (168) 18,103 (216) 4,002   837
Contingently Redeemable Noncontrolling Interest (6)                  
Net income (loss) (13)                
Contingently redeemable noncontrolling interest, Balance at end of period at Dec. 31, 2020 34                
Changes in Equity                  
Net income (loss) 219           1,166   (947)
Other comprehensive income (loss) 83         83      
Dividends declared (1,764)           (1,764)    
Distributions declared to noncontrolling interests (200)               (200)
Cash calls requested from noncontrolling interests $ 101               101
Repurchase and retirement of common stock (in shares) (9.0)   (9.0)            
Repurchase and retirement of common stock $ (528)   $ (15)   (207)   (306)    
Withholding of employee taxes related to stock-based compensation (in shares) (0.6)     (1.0)          
Withholding of employee taxes related to stock-based compensation $ (32)     $ (32)          
Stock options exercised 17       17        
Stock-based awards and related share issuances (in shares)     2.0            
Stock-based awards and related share issuances $ 72   $ 4   68        
Balance at end of period (in shares) at Dec. 31, 2021 792.0   797.0 (5.0)          
Balance at end of period at Dec. 31, 2021 $ 21,813   $ 1,276 $ (200) $ 17,981 $ (133) $ 3,098   $ (209)
Contingently Redeemable Noncontrolling Interest (6)                  
Net income (loss) 14                
Contingently redeemable noncontrolling interest, Balance at end of period at Dec. 31, 2021 $ 48                
v3.22.0.1
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash dividends declared per common share (in dollars per share) $ 2.20 $ 1.04 $ 0.56
Special dividends declared per common share (in dollars per share) $ 0 $ 0 $ 0.88
Dividends declared and dividends paid to common stockholders, difference due to timing $ 7 $ 5 $ 6
Equity classified stock-based compensation awards allocated to purchase consideration 6    
Distributions declared to noncontrolling interests 200 198 187
Distributions to noncontrolling interests 200 197 186
Cash calls requested from noncontrolling interests 101 110 95
Non-cash common stock forfeitures 3    
Contingently redeemable noncontrolling interest 48 34 47
Repurchase and retirement of common stock 528 521 479
Merian Mine      
Distributions declared to noncontrolling interests 200 198 187
Distributions to noncontrolling interests 200 197 186
Cash calls requested from noncontrolling interests 101 110 95
Proceeds from sale of noncontrolling interests $ 100 $ 112 $ 93
Sumitomo Corporation      
Noncontrolling interest, ownership percentage by noncontrolling owners (as a percent) 5.00%    
v3.22.0.1
THE COMPANY
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
THE COMPANY THE COMPANY
Newmont Corporation and its affiliates and subsidiaries (collectively, “Newmont,” “we,” “us” or the “Company”) predominantly operate in the mining industry, focused on the production of and exploration for gold properties, some of which may contain copper, silver, zinc, lead or other metals. The Company has significant operations and/or assets in the United States (“U.S.”), Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia and Ghana. The cash flow and profitability of the Company’s operations are significantly affected by the market price of gold, copper, silver, lead and zinc. The prices of gold, copper, silver, lead and zinc are affected by numerous factors beyond the Company’s control.
References to “C$” refer to Canadian currency.
Goldcorp

On April 18, 2019, Newmont completed the business acquisition of Goldcorp, Inc. (“Goldcorp”), an Ontario corporation. The Company acquired all outstanding common shares of Goldcorp in a primarily stock transaction (the “Newmont Goldcorp transaction”) for total cash and non-cash consideration of $9,456. Refer to Note 3 for further information.
Nevada Gold Mines
On July 1, 2019, ("the effective date") Newmont and Barrick consummated the Nevada JV Agreement and established Nevada Gold Mines LLC ("NGM"), which combined the Company’s Nevada mining operations with Barrick’s Nevada mining operations.
As of the effective date, the Company contributed its existing Nevada mining operations, which included Carlin, Phoenix, Twin Creeks and Long Canyon, to NGM in exchange for a 38.5% interest in NGM. The interest received in NGM was accounted for at fair value, and accordingly, the Company recognized a gain of $2,390 during 2019 as Gain on formation of Nevada Gold Mines. The gain represents the difference between the fair value of the Company’s interest in NGM and the carrying value of the Nevada mining operations contributed to NGM. The Company accounts for its interest in NGM using the proportionate consolidation method, which is an exception available to entities in the extractive industries, thereby recognizing its pro-rata share of the assets, liabilities and operations of NGM.
On October 14, 2021, NGM and i-80 Gold Corp completed an exchange transaction pursuant to which NGM acquired the remaining 40% interest in the South Arturo property, obtained an option to acquire the adjacent Rodeo Creek exploration property, received contingent consideration of up to $50 on meeting specific production targets, and obtained the release of NGM bonds in exchange for i-80 bonding, in exchange for the Lone Tree and Buffalo mountain properties and related infrastructure. As a result of the exchange, the Lone Tree property was remeasured to fair value resulting in the recognition of a gain of $79 by the Company which represents its 38.5% interest in NGM, included in Gain on asset and investment sales, net.
GT Gold
At December 31, 2020, marketable and other equity securities included the 14.9% of equity interest held in GT Gold Corporation (“GT Gold”). In May 2021, the Company completed the acquisition of the remaining 85.1% of GT Gold for cash consideration, including related transaction costs, of $326. The asset acquisition resulted in total consideration of $378, including non-cash consideration of $52. The non-cash consideration represents the fair value of the 14.9% GT Gold investment held by the Company on the acquisition date. The total consideration paid was allocated to the acquired assets and assumed liabilities based on their estimated fair values on the acquisition date, which primarily consisted of mineral interests of $590 and a related deferred tax liability of $211.
Noncontrolling Interests
Newmont has a 75.0% economic interest in Suriname Gold project C.V. (“Merian”), with the remaining interests held by Staatsolie Maatschappij Suriname N.V. (“Staatsolie”), a company wholly owned by the Republic of Suriname. Newmont consolidates Merian, through its wholly-owned subsidiary, Newmont Suriname LLC., in its Consolidated Financial Statements as the primary beneficiary of Merian, which is a variable interest entity. For the years ended 2021, 2020 and 2019, the Company recognized $(81), $(90) and $(78) of Net loss (income) attributable to noncontrolling interests related to Merian.
At December 31, 2021, Newmont had a 51.35% ownership interest in Minera Yanacocha S.R.L. ("Yanacocha"), with 43.65% owned by Compañia de Minas Buenaventura S.A.A. (“Buenaventura”) and 5% owned by Summit Global Management II VB, a subsidiary of Sumitomo Corporation (“Sumitomo”). Under the terms of Sumitomo's acquisition of its 5% interest in 2018 for $48 in cash, Sumitomo has the option to require Yanacocha to repurchase the interest for $48 if the Yanacocha Sulfides project does not adequately progress by June 2022 or if the project is approved with an internal rate of return below a contractually agreed upon rate. Sumitomo’s interest has been classified outside of permanent equity as Contingently redeemable noncontrolling interest on the Consolidated Balance Sheets. Under the terms of the sales agreement, the cash paid by Sumitomo at closing has been placed in escrow for repayment in the event the option is exercised. The Company continues to consolidate Yanacocha in its Consolidated Financial Statements under the voting interest model. For the years ended 2021, 2020 and 2019, the Company recognized $1,014, $128 and $(1) of Net loss (income) attributable to noncontrolling interests related to Yanacocha.
Yanacocha Transaction
In February 2022, the Company completed the acquisition of Buenaventura’s 43.65% noncontrolling interest in Yanacocha (the “Yanacocha Transaction”) for $300 cash consideration, certain royalties on any production from other future potential projects, and contingent payments of up to $100 tied to the outstanding Yanacocha tax dispute (see Note 26), higher metal prices and achieving commercial production at the Yanacocha Sulfides project. The Company expects to account for the Yanacocha Transaction as an equity transaction in the first quarter of 2022, resulting in no gain or loss recognition in the Consolidated Statement of Operations. Upon close of the Yanacocha Transaction, the Company’s ownership interest in Yanacocha increased to 95%.
Concurrent with the Yanacocha Transaction, the Company sold its 46.94% ownership interest in Minera La Zanja S.R.L. ("La Zanja"), accounted for as an equity method investment, in exchange for royalties on potential future production from the La Zanja operation. The Company also contributed $45 cash to Buenaventura, the parent company of La Zanja, to be used exclusively for reclamation costs at the La Zanja operation. The Company expects to recognize a $45 loss on sale of its equity interest in La Zanja in the first quarter of 2022. The carrying value of the La Zanja equity investment at December 31, 2021 is $—.
Discontinued Operations
Net income (loss) from discontinued operations includes results related to the Batu Hijau contingent consideration provisions associated with the sale of PT Newmont Nusa Tenggara in 2016 and a retained royalty obligation (“Holt royalty obligation”) to Royal Gold, Inc. for production on the Holt-McDermott property owned by Kirkland Lake Gold Ltd ("Kirkland"). In 2020, the Company and Kirkland signed a Strategic Alliance Agreement (the “Kirkland Agreement”), in which the Company purchased an option (the “Holt option”) from Kirkland for the mining and mineral rights subject to the Holt royalty obligation for $75, effectively reducing the Holt royalty obligation to $—. If exercised, the Holt option will allow the Company to prevent Kirkland from mining minerals subject to the Holt royalty obligation.
For the years ended 2021, 2020 and 2019, the Company recorded income (expense) of $57, $163 and $(72), net of a tax benefit (expense) of $(10), $(44) and $19, respectively, within discontinued operations. The Company received (paid) $13, $(8) and $(10) for the years ended 2021, 2020 and 2019, respectively, related to discontinued operations. See contingent consideration assets in Note 15 for additional information.
v3.22.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Risks and Uncertainties
As a global mining company, the Company’s revenue, profitability and future rate of growth are substantially dependent on prevailing metal prices, primarily for gold, but also for copper, silver, lead and zinc. Historically, the commodity markets have been very volatile, and there can be no assurance that commodity prices will not be subject to wide fluctuations in the future. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and on the quantities of reserves that the Company can economically produce. The carrying value of the Company’s Property, plant and mine development, net; Inventories; Stockpiles and ore on leach pads; Investments; Deferred income tax assets; and Goodwill are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.
In addition to changes in commodity prices, other factors such as changes in mine plans, increases in costs, geotechnical failures, changes in social, environmental or regulatory requirements, impacts of global events such as the COVID-19 pandemic and management’s decision to reprioritize or abandon a development project can adversely affect the Company’s ability to recover its investment in certain assets and result in impairment charges.
The continued impact of the COVID-19 pandemic could include sites being placed into care and maintenance, significant COVID-19 specific costs, volatility in the prices for gold and other metals, logistical challenges shipping products, delays in product refining and smelting due to restrictions or temporary closures, additional travel restrictions, other supply chain disruptions and workforce interruptions, including loss of life. Depending on the duration and extent of the impact of COVID-19, this could materially impact the Company’s results of operations, cash flows and financial condition and could result in material impairment charges to the Company’s Property, plant and mine development, net; Inventories; Stockpiles and ore on leach pads; Investments; Deferred income tax assets; and Goodwill.
The Cerro Negro mine, located in Argentina, is a U.S. dollar functional currency entity. Argentina’s central bank has enacted a number of foreign currency controls in an effort to stabilize the local currency, including requiring the Company to convert U.S. dollar proceeds from metal sales to local currency and restricting payments to foreign-related entities denominated in foreign currency, such as dividends or distributions to the parent and related companies. We continue to monitor the foreign currency exposure risk and the limitations of repatriating cash to the United States. Currently, these currency controls are not expected to impact the Company's ability to repay its debt obligations or declare dividends.
Minera Yanacocha S.R.L. (“Yanacocha”) includes the mining operations at Yanacocha and the Conga project in Peru. Based on the Company's internal project portfolio evaluation process, we have reprioritized the Yanacocha Sulfides project ahead of Conga, and
therefore we do not anticipate developing Conga in the next ten years. Due to the uncertainty surrounding the project’s development timeline, we have allocated exploration and development capital to other projects in the Company's portfolio. As a result, the Conga project is currently in care and maintenance. Should we be unable to develop the Conga project or conclude that future development is not in the best interest of the business, we may consider other alternatives for the project, which may result in a future impairment charge for the remaining assets. The total assets at Conga as of December 31, 2021 and 2020 were $900 and $1,517 respectively.
Use of Estimates
The Company’s Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The preparation of the Company’s Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. The Company must make these estimates and assumptions because certain information used is dependent on future events, cannot be calculated with a high degree of precision from data available or simply cannot be readily calculated based on generally accepted methodologies. Actual results could differ from these estimates.
The more significant areas requiring the use of management estimates and assumptions relate to mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of-production amortization calculations; environmental remediation, reclamation and closure obligations; estimates of recoverable gold and other minerals in stockpile and leach pad inventories; estimates of fair value for certain reporting units and asset impairments (including impairments of long-lived assets, goodwill and investments); write-downs of inventory, stockpiles and ore on leach pads to net realizable value; post-employment, post-retirement and other employee benefit liabilities; valuation allowances for deferred tax assets; provisional amounts related to income tax effects of newly enacted tax laws; provisional amounts related to uncertain tax positions; valuation of assets acquired and liabilities assumed in a business combination; reserves for contingencies and litigation; and the fair value and accounting treatment of financial instruments including marketable and other equity securities and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from those amounts estimated in these financial statements.
Principles of Consolidation
The Consolidated Financial Statements include the accounts of Newmont Corporation, more-than-50%-owned subsidiaries that it controls and variable interest entities where it is the primary beneficiary. The proportionate consolidation method is used for investments in which the Company has an undivided interest in the assets, liabilities and operations and for certain unincorporated joint ventures in the extractive industry. All significant intercompany balances and transactions have been eliminated. Equity method accounting is applied for certain entities where the Company does not have control, but does have significant influence over the activities that most significantly impact the entities’ operations and financial performance. The functional currency for the majority of the Company’s operations is the U.S. dollar.
The Company follows the Accounting Standards Codification (“ASC”) guidance for identification and reporting of entities over which control is achieved through means other than voting rights. The guidance defines such entities as Variable Interest Entities (“VIEs”).
Business Combinations
The Company recognizes and measures the assets acquired and liabilities assumed in a business combination based on their estimated fair values at the acquisition date, while transaction and integration costs related to business combinations are expensed as incurred. Any excess of the purchase consideration when compared to the fair value of the net tangible and intangible assets acquired, if any, is recorded as goodwill. For material acquisitions, the Company engages independent appraisers to assist with the determination of the fair value of assets acquired, liabilities assumed, noncontrolling interest, if any, and goodwill, based on recognized business valuation methodologies. An income, market or cost valuation method may be utilized to estimate the fair value of the assets acquired, liabilities assumed, and noncontrolling interest, if any, in a business combination. The income valuation method represents the present value of future cash flows over the life of the asset using: (i) discrete financial forecasts, which rely on management’s estimates of reserve quantities and exploration potential, costs to produce and develop reserves, revenues, and operating expenses; (ii) long-term growth rates; (iii) appropriate discount rates; and (iv) expected future capital requirements (“income valuation method”). The market valuation method uses prices paid for a similar asset by other purchasers in the market, normalized for any differences between the assets (“market valuation method”). The cost valuation method is based on the replacement cost of a comparable asset at the time of the acquisition adjusted for depreciation and economic and functional obsolescence of the asset (“cost valuation method”). The fair value of property, plant and mine development is estimated to include the fair value of asset retirement costs of related long-lived tangible assets. If the initial accounting for the business combination is incomplete by the end of the reporting period in which the acquisition occurs, an estimate will be recorded. Subsequent to the acquisition date, and not later than one year from the acquisition date, the Company will record any material adjustments to the initial estimate based on new information obtained that would have existed as of the date of the acquisition. Any adjustment that arises from information obtained that did not exist as of the date of the acquisition will be recorded in the period the adjustments arises.
Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Because of the short maturity of these investments, the carrying amounts approximate their fair value. Cash and cash equivalents are held in overnight bank deposits or are invested in United States Treasury securities and money market securities. Restricted cash is excluded from cash and cash equivalents and is included in other current or non-current assets. Restricted cash is held primarily for the purpose of settling asset retirement obligations.
Stockpiles, Ore on Leach Pads and Inventories
As described below, costs that are incurred in or benefit the productive process are accumulated as stockpiles, ore on leach pads and inventories. Stockpiles, ore on leach pads and inventories are carried at the lower of average cost or net realizable value. Net realizable value represents the estimated future sales price of the product based on current and long-term metals prices, less the estimated costs to complete production and bring the product to sale. Write-downs of stockpiles, ore on leach pads and inventories to net realizable value are reported as a component of Costs applicable to sales and Depreciation and amortization. The current portion of stockpiles, ore on leach pads and inventories is determined based on the expected amounts to be processed within the next 12 months and utilize the short-term metal price assumption in estimating net realizable value. Stockpiles, ore on leach pads and inventories not expected to be processed within the next 12 months are classified as non-current and utilize the long-term metal price assumption in estimating net realizable value. The major classifications are as follows:
Stockpiles
Stockpiles represent ore that has been extracted from the mine and is available for further processing. Mine sequencing may result in mining material at a faster rate than can be processed. The Company generally processes the highest ore grade material first to maximize metal production; however, a blend of metal stockpiles may be processed to balance hardness and/or metallurgy in order to maximize throughput and recovery. Processing of lower grade stockpiled ore may continue after mining operations are completed. Sulfide copper ores are subject to oxidation over time which can reduce expected future recoveries. Stockpiles are measured by estimating the number of tons added and removed from the stockpile, the number of contained ounces or pounds (based on assay data) and the estimated metallurgical recovery rates (based on the expected processing method). Stockpile ore tonnages are verified by periodic surveys. Costs are added to stockpiles based on current mining costs incurred including applicable overhead and depreciation and amortization relating to mining operations and removed at each stockpile’s average cost per recoverable unit as material is processed. Stockpiles are recorded at the lower of average cost or net realizable value, and carrying values are evaluated at least quarterly. Net realizable value represents the estimated future sales price based on short-term and long-term metals price assumptions, less estimated costs to complete production and bring the product to sale.
Ore on Leach Pads
Ore on leach pads represent ore that has been mined and placed on leach pads where a solution is applied to the surface of the heap to dissolve the gold or silver or extract the copper.
Costs are added to ore on leach pads based on current mining costs, including applicable depreciation and amortization relating to mining operations. Costs are removed from ore on leach pads as ounces or pounds are recovered based on the average cost per estimated recoverable ounce of gold or silver or pound of copper on the leach pad.
Estimates of recoverable ore on the leach pads are calculated from the quantities of ore placed on the leach pads (measured tons added to the leach pads), the grade of ore placed on the leach pads (based on assay data) and a recovery percentage (based on ore type). In general, leach pads recover between 50% and 95% of the recoverable ounces in the first year of leaching, declining each year thereafter until the leaching process is complete.
Although the quantities of recoverable metal placed on the leach pads are reconciled by comparing the grades of ore placed on pads to the quantities of metal actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored and estimates are refined based on actual results over time. Historically, the Company’s operating results have not been materially impacted by variations between the estimated and actual recoverable quantities of metal on its leach pads. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis.
In-process Inventory
In-process inventories represent material that is currently in the process of being converted to a saleable product. Conversion processes vary depending on the nature of the ore and the specific processing facility, but include mill in-circuit, flotation, leach and carbon-in-leach. In-process material is measured based on assays of the material fed into the process and the projected recoveries of the respective processing plants. In-process inventories are valued at the lower of the average cost of the material fed into the process attributable to the source material coming from the mines, stockpiles and/or leach pads, plus the in-process conversion costs, including applicable amortization relating to the process facilities incurred to that point in the process or net realizable value.
Precious Metals Inventory
Precious metals inventories include gold doré and/or gold bullion. Precious metals that result from the Company’s mining and processing activities are valued at the lower of the average cost of the respective in-process inventories incurred prior to the refining process, plus applicable refining costs or net realizable value.
Concentrate Inventory
Concentrate inventories represent gold, silver, lead, zinc and copper concentrate available for shipment or in transit for further processing when the sales process has not been completed. The Company values concentrate inventory at average cost, including an allocable portion of support costs and amortization. Costs are added and removed to the concentrate inventory based on metal in the concentrate and are valued at the lower of average cost or net realizable value.
Materials and Supplies
Materials and supplies are valued at the lower of average cost or net realizable value. Cost includes applicable taxes and freight.
Property, Plant and Mine Development
Facilities and Equipment
Expenditures for new facilities or equipment and expenditures that extend the useful lives of existing facilities or equipment are capitalized and recorded at cost. Facilities and equipment acquired as a part of a finance lease, build-to-suit or other financing arrangement are capitalized and recorded based on the contractual lease terms. The facilities and equipment are depreciated using the straight-line method at rates sufficient to depreciate such capitalized costs over the estimated productive lives of such facilities. These estimated productive lives do not exceed the related estimated mine lives, which are based on proven and probable reserves.
Mine Development
Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Advanced projects, research and development expense. Capitalization of mine development project costs that meet the definition of an asset begins once mineralization is classified as proven and probable reserves.
Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information on the ore body or converting measured, indicated and inferred resources to proven and probable reserves. All other drilling and related costs are expensed as incurred. Drilling costs incurred during the production phase for operational ore control are allocated to inventory costs and then included as a component of Costs applicable to sales.
The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Where multiple open pits exist at a mining complex utilizing common processing facilities, pre-stripping costs are capitalized at each pit. The removal, production, and sale of de minimis saleable materials may occur during the development phase of an open pit mine and are assigned incremental mining costs related to the removal of that material.
The production phase of an open pit mine commences when saleable minerals, beyond a de minimis amount, are produced. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory.
Mine development costs are amortized using the units-of-production method based on estimated recoverable ounces or pounds in proven and probable reserves. To the extent that these costs benefit an entire ore body, they are amortized over the estimated life of the ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that area are amortized over the estimated life of that specific ore block or area.
Underground development costs are capitalized as incurred. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Advanced projects, research and development expense. Capitalization of mine development project costs that meet the definition of an asset begins once mineralization is classified as proven and probable reserves.
Mineral Interests
Mineral interests include acquired interests in production, development and exploration stage properties. Mineral interests are capitalized at their fair value at the acquisition date, either as an individual asset purchase or as part of a business combination. Mineral
interests in the development and exploration stage are not amortized until the underlying property is converted to the production stage, at which point the mineral interests are amortized over the estimated recoverable proven and probable reserves.
The value of such assets is primarily driven by the nature and amount of mineral interests believed to be contained in such properties. Production stage mineral interests represent interests in operating properties that contain proven and probable reserves and are amortized using the units-of-production method based on the estimated recoverable ounces or pounds in proven and probable reserves. Development stage mineral interests represent interests in properties under development that contain proven and probable reserves. Exploration stage mineral interests represent interests in properties that are believed to potentially contain mineral resources consisting of (i) mineral resources within pits; mineral resources with insufficient drill spacing to qualify as proven and probable reserves; and mineral resources in close proximity to proven and probable reserves; (ii) around-mine exploration potential not immediately adjacent to existing reserves and mineralization, but located within the immediate mine area; (iii) other mine-related exploration potential that is not part of current resources and is comprised mainly of material outside of the immediate mine area; (iv) greenfield exploration potential that is not associated with any other production, development or exploration stage property, as described above; or (v) any acquired right to explore or extract a potential mineral deposit. The Company’s mineral rights generally are enforceable regardless of whether proven and probable reserves have been established. In certain limited situations, the nature of a mineral right changes from an exploration right to a mining right upon the establishment of proven and probable reserves. The Company has the ability and intent to renew mineral interests where the existing term is not sufficient to recover all identified and valued proven and probable reserves and/or undeveloped mineral resources.
Goodwill
Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in a business acquisition. Goodwill is allocated to reporting units and tested for impairment annually as of December 31 and when events or changes in circumstances indicate that the carrying value of a reporting unit exceeds its fair value. Each operating mine is considered a distinct reporting unit for purposes of goodwill impairment testing.
The Company may elect to perform a qualitative assessment when it is more likely than not that the fair value of a reporting unit is higher than its carrying value. If the Company determines that it is more likely than not that the fair value is less than the carrying value, a quantitative goodwill impairment test is performed to determine the fair value of the reporting unit. The fair value of a reporting unit is determined using either the income approach utilizing estimates of discounted future cash flows or the market approach utilizing recent transaction activity for comparable properties. These approaches are considered Level 3 fair value measurements. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. The Company recognizes its pro rata share of goodwill and any subsequent goodwill impairment losses recorded by entities that are proportionately consolidated.
The estimated cash flows used to assess the fair value of a reporting unit are derived from the Company’s current business plans, which are developed using short-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to short- and long-term metal price assumptions, other assumptions include estimates of commodity-based and other input costs; capital investment; proven and probable mineral reserve estimates, including the timing and cost to develop and produce the reserves; value beyond proven and probable mineral reserve and measured, indicated and inferred resource estimates; estimated future closure costs; and the use of appropriate discount rates.
Impairment of Long-lived Assets
The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. An impairment loss is measured and recorded based on the estimated fair value of the long-lived assets being tested for impairment, and their carrying amounts. Fair value is typically determined through the use of an income approach utilizing estimates of discounted pre-tax future cash flows or a market approach utilizing recent transaction activity for comparable properties. These approaches are considered Level 3 fair value measurements. Occasionally, such as when an asset is held for sale, market prices are used.
The estimated undiscounted cash flows used to assess recoverability of long-lived assets and to measure the fair value of the Company’s mining operations are derived from current business plans, which are developed using short-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to short- and long-term metal price assumptions, other assumptions include estimates of commodity-based and other input costs; proven and probable mineral reserve estimates, including the timing and cost to develop and produce the reserves; value beyond proven and probable mineral reserve and measured, indicated and inferred resource estimates; estimated future closure costs; and the use of appropriate discount rates.
In estimating undiscounted cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of undiscounted cash flows from other asset groups. The Company’s estimates of undiscounted cash flows are based on numerous assumptions and it is possible that actual cash flows may differ significantly from estimates, as actual produced reserves, metal prices, commodity-based and other costs, and closure costs are each subject to significant risks and uncertainties.
Investments
Management classifies investments at the acquisition date and re-evaluates the classification at each balance sheet date and when events or changes in circumstances indicate that there is a change in the Company’s ability to exercise significant influence. The ability to exercise significant influence is typically presumed when the Company possesses 20% or more of the voting interests in the investee. The Company accounts for its investments in stock of other entities over which the Company has significant influence, but not control, using the equity method of accounting. Under the equity method of accounting, the Company increases its investment for contributions made and records its proportionate share of net earnings, declared dividends and partnership distributions based on the most recently available financial statements of the investee. To the extent that there is a basis difference between the amount invested and the underlying equity in the net assets of an equity investment, the Company allocates such differences between tangible and intangible assets. This basis difference is being amortized into Equity income (loss) of affiliates over the remaining estimated useful lives of the underlying tangible and intangible net assets. Equity method investments are included in Investments.
Contributions made to equity method investees at times are in the form of loan agreements. Loans provided to equity method investees that are made based on the Company's proportionate ownership percentage are accounted for as “in-substance capital contributions” and are treated as an increase to the investment. Principal and interest payments received on loans treated as in-substance capital contributions are assessed under the cumulative earnings approach to determine if the distribution received represents a return on capital or a return of capital. Return on capital distributions are recorded as an operating cash flow whereas return of capital distributions are recorded as an investing cash flow. Loans provided to equity method investees that are not made on a proportionate basis are accounted for as a loan receivable and do not increase the investment. Principal payments received on loans not treated as an in-substance capital contribution are accounted for as a reduction to the loan receivable and interest received is recorded as interest income.
The Company evaluates its equity method investments for potential impairment whenever events or changes in circumstances indicate that there is an other-than-temporary decline in the value of the investment. Declines in fair value that are deemed to be other-than-temporary are charged to Other income (loss), net.
Additionally, the Company has certain marketable equity and debt securities and other equity securities. Marketable equity securities are measured primarily at fair value with any changes in fair value recorded in Other income (loss), net. Certain other equity securities are accounted for under the measurement alternative (cost less impairment, adjusted for any qualifying observable price changes) when fair value is not readily determinable. The Company accounts for its restricted marketable debt securities as available-for-sale securities. Unrealized gains and losses on available-for-sale ("AFS") investments, net of taxes, are reported as a component of Accumulated other comprehensive income (loss) in Total equity, unless an impairment is deemed to be credit-related. Credit-related impairment is recognized as an allowance for credit losses on the balance sheet with a corresponding charge to Other income (loss), net.
Debt
The Company carries its Senior Notes at amortized cost.
Debt issuance costs and debt premiums and discounts, which are included in Debt, and unrealized gains or losses related to cash flow hedges using treasury rate lock contracts and forward starting swap contracts, which are included in Accumulated other comprehensive income (loss), are amortized using the effective interest method over the terms of the respective Senior Notes as a component of Interest expense, net within the Consolidated Statements of Operations.
When repurchasing its debt, the Company records the resulting gain or loss as well as the accelerated portion of related debt issuance costs, premiums and discounts, and any unrealized gains or losses from the associated treasury rate lock contracts and/or associated forward starting swap contracts, included in Accumulated other comprehensive income (loss), in Other income (loss), net.
Leases
The Company determines if a contractual arrangement represents or contains a lease at inception. Operating leases are included in Other non-current assets and Other current and non-current liabilities in the Consolidated Balance Sheets. Finance leases are included in Property, plant and mine development, net and current and non-current Lease and other financing obligations in the Consolidated Balance Sheets.
Operating and finance lease right-of-use ("ROU") assets and lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. Leases acquired in a business combination are also measured based on the present value of the remaining leases payments, as if the acquired lease were a new lease at the acquisition date. When the rate implicit to the lease cannot be readily determined, the Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is derived from information available at the lease commencement date and represents the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment. The ROU asset includes any lease payments made and lease incentives received prior to the commencement date. Operating lease ROU assets also include any
cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.
The Company has lease arrangements that include both lease and non-lease components. The Company accounts for each separate lease component and its associated non-lease components as a single lease component for the majority of its asset classes. Additionally, for certain lease arrangements that involve leases of similar assets, the Company applies a portfolio approach to effectively account for the underlying ROU assets and lease liabilities.
Contingently Redeemable Noncontrolling Interest
Certain noncontrolling interests in consolidated entities meet the definition of redeemable financial instruments if the ability to redeem the interest is outside of the control of the consolidating entity. In such cases, these financial instruments are classified outside of permanent equity (referred to as temporary equity).
Common Stock
In order to consummate the Newmont Goldcorp transaction, the Company amended its Restated Certificate of Incorporation to increase Newmont’s authorized number of shares of common stock from 750 million to 1.28 billion, as approved by Newmont shareholders at the April 11, 2019 special meeting of stockholders.
In July 2021, Newmont filed a shelf registration statement on Form S-3 under which it can issue an indeterminate number or amount of common stock, preferred stock, debt securities, guarantees of debt securities and warrants from time to time at indeterminate prices, subject to the limitations of the Delaware General Corporation Law, the Company's certification of incorporation and bylaws. It also includes the ability to resell an indeterminate amount of common stock, preferred stock and debt securities from time to time upon exercise of warrants or conversion of convertible securities.
Treasury Stock
The Company records repurchases of common shares as Treasury stock at cost and records any subsequent retirements of treasury shares at cost. When treasury shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired to both Retained earnings and Additional paid-in capital using settlement-date accounting. The portion allocated to Additional paid-in capital is calculated on a pro rata basis of the shares to be retired and the total shares issued and outstanding as of the date of the retirement.
During the years ended December 31, 2021, 2020 and 2019, the Company repurchased and retired approximately 9 million, 10 million and 12 million shares of its common stock for $525, $521 and $479, respectively. During the years ended December 31, 2021, 2020 and 2019, the Company withheld 0.6 million, 1.0 million and 1.4 million shares, respectively, for payments of employee withholding taxes related to the vesting of stock awards.
Revenue Recognition
Newmont generates revenue by selling gold, silver, lead, zinc and copper produced from its mining operations. Refer to Note 4 for further information regarding the Company’s operating segments.
The majority of the Company’s Sales come from the sale of refined gold; however, the end product at the Company’s gold operations is generally doré bars. Doré is an alloy consisting primarily of gold but also containing silver and other metals. Doré is sent to refiners to produce bullion that meets the required market standard of 99.95% gold. Under the terms of the Company’s refining agreements, the doré bars are refined for a fee, and the Company’s share of the refined gold and the separately-recovered silver is credited to its bullion account. Gold from doré bars credited to its bullion account is typically sold to banks or refiners.
A portion of gold sold from certain sites is sold in the form of concentrate. The Company’s Sales also come from the sale of silver, lead, zinc and copper. Sales from these metals are generally in the form of concentrate, which is sold to smelters for further treatment and refining.
Generally, if a metal expected to be mined represents more than 10% to 20% of the life of mine sales value of all the metal expected to be mined, co-product accounting is applied. When the Company applies co-product accounting at an operation, revenue is recognized for each co-product metal sold, and shared costs applicable to sales are allocated based on the relative sales values of the co-product metals produced. Generally, if metal expected to be mined is less than the 10% to 20% of the life of mine sales value, by-product accounting is applied. Revenues from by-product sales, which are immaterial, are credited to Costs applicable to sales as a by-product credit. Silver, lead and zinc are produced as co-products at Peñasquito. Copper is produced as a co-product at Boddington and was produced as a co-product at Phoenix until the formation of NGM on July 1, 2019. Silver, lead, zinc and/or copper are produced as a by-product at all other Newmont sites.
Gold Sales from Doré Production
The Company recognizes revenue for gold from doré production when it satisfies the performance obligation of transferring gold inventory to the customer, which generally occurs upon transfer of gold bullion credits as this is the point at which the customer obtains control the ability to direct the use and obtains substantially all of the remaining benefits of ownership of the asset.
The Company generally recognizes the sale of gold bullion credits when the credits are delivered to the customer. The transaction price is determined based on the agreed upon market price and the number of ounces delivered. Payment is due upon delivery of gold bullion credits to the customer’s account.
Sales from Concentrate Production
The Company recognizes revenue for gold, silver, lead, zinc and copper from concentrate production, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer. This generally occurs as material passes over the vessel's rail at the port of loading based on the date from the bill of lading, as the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from the material and the customer has the risk of loss. Newmont has elected to account for shipping and handling costs for concentrate contracts as fulfillment activities and not as promised goods or services; therefore these activities are not considered separate performance obligations.
The Company generally sells metal concentrate based on the monthly average market price for a future month, dependent on the relevant contract, following the month in which the delivery to the customer takes place. The amount of revenue recognized for concentrates is initially recorded on a provisional basis based on the forward prices for the estimated month of settlement and the Company’s estimated metal quantities based on assay data. The Company’s sales based on a provisional price contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the concentrates at the forward price at the time of sale. The embedded derivative, which is not designated for hedge accounting, is primarily marked to market through Sales each period prior to final settlement. The Company also adjusts estimated metal quantities used in computing provisional sales using new information and assay data from the smelter as it is received (if any).
A provisional payment is generally due upon delivery of the concentrate to the customer. Final payment is due upon final settlement of price and quantity with the customer.
The principal risks associated with recognition of sales on a provisional basis include metal price fluctuations and updated quantities between the date the sale is recorded and the date of final settlement. If a significant decline in metal prices occurs, or assay data results in a significant change in quantity between the provisional pricing date and the final settlement date, it is reasonably possible that the Company could be required to return a portion of the provisional payment received on the sale. Refer to Note 5 for additional information.
Income and Mining Taxes
The Company accounts for income taxes using the liability method, recognizing certain temporary differences between the financial reporting basis of the Company’s liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset for the Company, as measured by the statutory tax rates in effect. The Company derives its deferred income tax charge or benefit by recording the change in either the net deferred income tax liability or asset balance for the year. The financial statement effects of changes in tax law are recorded as discrete items in the period enacted as part of income tax expense or benefit from continuing operations, regardless of the category of income or loss to which the deferred taxes relate. The Company determines if the assessment of a particular income tax effect is “complete.” Those effects for which the accounting is determined to be complete are reported in the enactment period financial statements. The Company has exposure to the impact of foreign exchange fluctuations on tax positions in certain jurisdictions, such movements are recorded within Income and mining tax benefit (expense) related to deferred income tax assets and liabilities, as well as non-current uncertain tax positions, while foreign exchange fluctuations impacting current tax positions are recorded within Other income (loss), net as foreign currency exchange gains (losses). With respect to the earnings that the Company derives from the operations of its consolidated subsidiaries, in those situations where the earnings are indefinitely reinvested, no deferred taxes have been provided on the unremitted earnings (including the excess of the carrying value of the net equity of such entities for financial reporting purposes over the tax basis of such equity) of these consolidated companies.
Mining taxes represent state and provincial taxes levied on mining operations and are classified as income taxes. As such, taxes are based on a percentage of mining profits.
Newmont’s operations are in multiple jurisdictions where uncertainties arise in the application of complex tax regulations. Some of these tax regimes are defined by contractual agreements with the local government, while others are defined by general tax laws and regulations. Newmont and its subsidiaries are subject to reviews of its income tax filings and other tax payments, and disputes can arise with the taxing authorities over the interpretation of its contracts or laws. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on its estimate of whether it is more likely than not, and the extent to which, additional taxes will be due. The Company adjusts these reserves in light of changing facts and circumstances; however, due to the complexity of some of these uncertainties, the ultimate resolution may result in
a payment that is materially different from the Company’s current estimate of the tax liabilities. If the Company’s estimate of tax liabilities proves to be less than the ultimate assessment, an additional charge to expense would result. If the estimate of tax liabilities proves to be greater than the ultimate assessment, a tax benefit would result. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in Income and mining tax benefit (expense). In certain jurisdictions, Newmont must pay a portion of the disputed amount to the local government in order to formally appeal the assessment. Such payment is recorded as a receivable if Newmont believes the amount is collectible.
Valuation of Deferred Tax Assets
The Company’s deferred income tax assets include certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized. The Company reviews the likelihood that it will realize the benefit of its deferred tax assets and therefore the need for valuation allowances on a quarterly basis, or more frequently if events indicate that a review is required. In determining the requirement for a valuation allowance, the historical and projected financial results of the legal entity or consolidated group recording the net deferred tax asset is considered, along with all other available positive and negative evidence.
Certain categories of evidence carry more weight in the analysis than others based upon the extent to which the evidence may be objectively verified. The Company looks to the nature and severity of cumulative pretax losses (if any) in the current three-year period ending on the evaluation date, recent pretax losses and/or expectations of future pretax losses. Other factors considered in the determination of the probability of the realization of the deferred tax assets include, but are not limited to:
•Earnings history;
•Projected future financial and taxable income based upon existing reserves and long-term estimates of commodity prices;
•The duration of statutory carry forward periods;
•Prudent and feasible tax planning strategies readily available that may alter the timing of reversal of the temporary difference;
•Nature of temporary differences and predictability of reversal patterns of existing temporary differences; and
•The sensitivity of future forecasted results to commodity prices and other factors.
Concluding that a valuation allowance is not required is difficult when there is significant negative evidence which is objective and verifiable, such as cumulative losses in recent years. The Company utilizes a rolling twelve quarters of pre-tax income or loss as a measure of its cumulative results in recent years. However, a cumulative three year loss is not solely determinative of the need for a valuation allowance. The Company also considers all other available positive and negative evidence in its analysis.
Reclamation and Remediation Costs
Reclamation obligations associated with operating and non-operating mine sites are recognized when an obligation is incurred and the fair value can be reasonably estimated. Fair value is measured as the present value of expected cash flow estimates, after considering inflation, our credit-adjusted risk-free rates and a market risk premium appropriate for our operations. The liability is accreted over time through periodic charges to earnings. In addition, the asset retirement cost is capitalized as part of the asset’s carrying value and amortized over the life of the related asset. Reclamation costs are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation costs. Changes in reclamation estimates at mines that are not currently operating, as the mine or portion of the mine site has entered the closure phase and has no substantive future economic value, are reflected in earnings in the period an estimate is revised. The estimated reclamation obligation is based on when spending for an existing disturbance is expected to occur. Costs included in estimated asset retirement obligations are discounted to their present value as cash flows are readily estimable over a period of up to fifty years. The Company reviews, on an annual basis, unless otherwise deemed necessary, the reclamation obligation at each mine site in accordance with ASC guidance for asset retirement obligations.
Remediation costs are accrued when it is probable that an obligation has been incurred and the cost can be reasonably estimated. Such cost estimates may include ongoing care, maintenance and monitoring costs. Changes in remediation estimates at non-operating mines are reflected in earnings in the period an estimate is revised. Water treatment costs included in environmental remediation obligations are discounted to their present value as cash flows are readily estimable over a period up to fifty years.
Foreign Currency
The functional currency for the majority of the Company’s operations is the U.S. dollar. Transaction gains and losses related to foreign currency denominated monetary assets and liabilities where the functional currency is the U.S. dollar are remeasured at current exchange rates and the resulting adjustments are included in Other income (loss), net. The financial statements of our foreign entities with functional currencies other than the U.S. dollar are translated into U.S. dollars with the resulting adjustments charged or credited directly to Accumulated other comprehensive income (loss) in total equity. All assets and liabilities are translated into the U.S. dollar using exchange rates in effect at the balance sheet date, while revenues and expenses are translated at the weighted average
exchange rates for the period. The gains or losses on foreign currency rates on cash holdings in foreign currencies are included in Effect of exchange rate changes on cash, cash equivalents and restricted cash in the Company’s Consolidated Statements of Cash Flows.
Cash Flow Hedges
The fair value of derivative contracts qualifying as cash flow hedges are reflected as assets or liabilities in the Consolidated Balance Sheets. The changes in fair value of these hedges are deferred in Accumulated other comprehensive income (loss). Amounts deferred in Accumulated other comprehensive income (loss) are reclassified to income when the hedged transaction has occurred in the same income statement line where the earnings effect of the hedged item is presented. Cash transactions related to the Company’s derivative contracts accounted for as hedges are classified in the same category as the item being hedged in the Consolidated Statements of Cash Flows.
When derivative contracts qualifying as cash flow hedges are settled, accelerated or restructured before the maturity date of the contracts, the related amount in Accumulated other comprehensive income (loss) at the settlement date is deferred and reclassified to earnings, when the originally designated hedged transaction impacts earnings, unless the underlying hedge transaction becomes probable of not occurring, at which time related amounts in Accumulated other comprehensive income (loss) are reclassified to earnings immediately.
Newmont assesses the effectiveness of the derivative contracts using a regression analysis, both retrospectively and prospectively, to determine whether the hedging instruments have been highly effective in offsetting changes in the fair value of the hedged items. The Company also assesses whether the hedging instruments are expected to be highly effective in the future. If a hedging instrument is not expected to be highly effective, the Company will stop hedge accounting prospectively. In those instances, the gains or losses remain in Accumulated other comprehensive income (loss) until the hedged item affects earnings. For option contracts, the Company excludes the time value from the measurement of effectiveness.
Stock-Based Compensation
The Company records stock-based compensation awards exchanged for employee services at fair value on the date of the grant and expenses the awards in the Consolidated Statements of Operations over the requisite employee service period. The fair value of stock options is determined using the Black-Scholes valuation model. The fair value of restricted stock units (“RSUs”) are based on the Newmont stock price on the date of grant. The fair value of performance leverage stock units (“PSUs”) is determined using a Monte Carlo simulation model. Stock-based compensation expense related to all awards, including awards with a market or performance condition that cliff vest, is generally recognized ratably over the requisite service period of the award on a straight-line basis. The Company recognizes forfeitures as they occur. The Company's estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee retirement eligibility dates, the Company's performance and related tax impacts.
Net Income (Loss) per Common Share
Basic and diluted income per share are presented for Net income (loss) attributable to Newmont stockholders. Basic income per common share is computed by dividing income available to Newmont common stockholders by the weighted average number of common shares outstanding during the period. Diluted income per common share is computed similarly except that weighted average common shares is increased to reflect all dilutive instruments, including employee stock awards. The dilutive effects of Newmont’s dilutive securities are excluded from the calculation of diluted weighted average common shares outstanding if their effect would be anti-dilutive based on the treasury stock method or due to a net loss from continuing operations.
Discontinued Operations
The Company reports the results of operations of a business as discontinued operations if a disposal represents a strategic shift that has (or will have) a major effect on the Company’s operations and financial results when the business is classified as held for sale, in accordance with ASC 360, Property, Plant and Equipment and ASC 205-20, Presentation of Financial Statements - Discontinued Operations. Under ASC 360, assets may be classified as held for sale even though discontinued operations classification is not met. Equity method investments, which are specifically scoped out of ASC 360, can only be classified as held for sale if discontinued operations classification is also achieved. The results of discontinued operations are reported in Net income (loss) from discontinued operations, net of tax in the accompanying Consolidated Statements of Operations for current and prior periods, including any gain or loss recognized on closing or adjustment of the carrying amount to fair value less cost to sell.
Comprehensive Income (Loss)
In addition to Net income (loss), Comprehensive income (loss) includes all changes in equity during a period, such as adjustments to minimum pension liabilities, foreign currency translation adjustments, changes in fair value of derivative instruments that qualify as cash flow hedges and cumulative unrecognized changes in fair value of marketable debt securities classified as available-for-sale, except those resulting from investments by and distributions to owners.
Care and Maintenance
The Company incurs certain direct operating costs and depreciation and amortization costs when operations are temporarily halted and placed in care and maintenance. Direct operating costs incurred while operations are temporarily placed in care and maintenance are included in Care and Maintenance as these costs do not benefit the productive process and are not related to sales. Depreciation and amortization costs incurred while operations are temporarily placed in care and maintenance are included in Depreciation and amortization.
Reclassifications
Certain amounts and disclosures in prior years have been reclassified to conform to the 2021 presentation.
Recently Adopted Accounting Pronouncements and Securities and Exchange Commission Rules
Accounting for Income Taxes
In December 2019, Accounting Standard Update ("ASU") No. 2019-12 was issued to simplify the accounting for income taxes, eliminate certain exceptions within Accounting Standard Codification ("ASC") 740, Income Taxes, and clarify certain aspects of the current guidance to promote consistency among reporting entities. The Company adopted this standard as of January 1, 2021. The adoption did not have a material impact on the Consolidated Financial Statements or disclosures.
Accounting for Equity Securities, Investments and Certain Forward Contracts and Options
In January 2020, ASU No. 2020-01 was issued which clarifies the interaction in accounting for equity securities under ASC 321, investments accounted for under the equity method of accounting in ASC 323 and the accounting for certain forward contracts and purchased options accounted for under ASC 815, Derivatives and Hedging. The Company adopted this standard as of January 1, 2021. The adoption did not have a material impact on the Consolidated Financial Statements or disclosures.
Financial Disclosures about Acquired and Disposed Businesses
In May 2020, the SEC finalized its proposed updates to Rule 3-05 within Regulation S-X, Financial statements of businesses acquired or to be acquired, Rule 3-14, Special instructions for real estate operations to be acquired; Article 11, Pro Forma Financial Information; and other related rules and forms (the “Rules”). The Rules include amendments, which among other things: revise significance tests used to determine disclosure requirements; require the financial statements of the acquired business to cover only up to the two most recent fiscal years; permit the use of, or reconciliation to, International Financial Reporting Standards as issued by the International Accounting Standards Board in certain circumstances; and amend certain pro forma financial information requirements. The Rules were adopted on January 1, 2021. The adoption did not have a material impact on the Consolidated Financial Statements or disclosures.
Recently Issued Accounting Pronouncements and Securities and Exchange Commission Rules
Effects of Reference Rate Reform
In March 2020, ASU No. 2020-04 was issued which provides optional guidance for a limited period of time to ease the potential burden on accounting for contract modifications caused by reference rate reform. In January 2021, ASU No. 2021-01 was issued which broadened the scope of ASU No. 2020-04 to include certain derivative instruments. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022. The guidance may be adopted over time as reference rate reform activities occur and should be applied on a prospective basis. The Company is in the process of reviewing key contracts to identify any contracts that reference the London Interbank Offered Rate ("LIBOR") and to implement adequate fallback provisions if not already implemented to mitigate the risks or impacts from the transition. No material impacts are expected to the Consolidated Financial Statements or disclosures.
Financial Disclosures of Government Assistance
In November 2021, ASU No. 2021-10 was issued which provides guidance for required annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. The guidance is effective for all entities for annual periods beginning after December 15, 2021. The Company is still completing its evaluation of the impact of ASU 2021-10. The Company does not expect the guidance to have a material impact on the Consolidated Financial Statements or disclosures.
v3.22.0.1
BUSINESS ACQUISITION
 12 Months Ended
Dec. 31, 2021
Business Combinations [Abstract]  
BUSINESS ACQUISITION BUSINESS ACQUISITIONOn January 14, 2019, the Company entered into a definitive agreement (as amended by the first amendment to the arrangement agreement, dated as of February 19, 2019, the “Arrangement Agreement”) to acquire all outstanding shares of Goldcorp, Inc. (“Goldcorp”), an Ontario corporation. On April 18, 2019 (“acquisition date”), pursuant to the Arrangement Agreement, Newmont completed the business acquisition of Goldcorp, in which Newmont was the acquirer. The acquisition of Goldcorp increased the Company’s gold and other metal reserves and expanded the operating jurisdictions.
The acquisition date fair value of the consideration transferred consisted of the following:
Newmont stock issued (285 million shares at $33.04 per share)
$9,423 
Cash paid to Goldcorp shareholders17 
Other non-cash consideration16 
Total consideration$9,456 
The Company retained an independent appraiser to determine the fair value of assets acquired and liabilities assumed. In accordance with the acquisition method of accounting, the purchase price of Goldcorp has been allocated to the acquired assets and assumed liabilities based on their estimated acquisition date fair values. The fair value estimates were based on income, market and cost valuation methods. The excess of the total consideration over the estimated fair value of the amounts initially assigned to the identifiable assets acquired and liabilities assumed has been recorded as goodwill, which is not deductible for income tax purposes. The goodwill balance is mainly attributable to: (i) the acquisition of existing operating mines with access to an assembled workforce that cannot be duplicated at the same costs by new entrants; (ii) operating synergies anticipated from the integration of the operations of Newmont and Goldcorp; (iii) the application of Newmont’s Full Potential program and potential strategic and financial benefits that include the increase in reserve base and opportunities to identify additional mineralization through exploration activities; and (iv) the financial flexibility to execute capital priorities.
In April 2020, the Company completed the analysis to assign fair values to all assets acquired and liabilities assumed. The following table summarizes the final purchase price allocation for the Newmont Goldcorp transaction:
Assets:
Cash and cash equivalents$117 
Trade receivables95 
Investments169 
Equity method investments (1)
2,796 
Inventories500 
Stockpiles and ore on leach pads57 
Property, plant & mine development (2)
11,054 
Goodwill (3)
2,550 
Deferred income tax assets (4)
206 
Other assets508 
Total assets18,052 
Liabilities:
Debt (5)
3,304 
Accounts payable240 
Employee-related benefits190 
Income and mining taxes payable20 
Lease and other financing obligations423 
Reclamation and remediation liabilities (6)
897 
Deferred income tax liabilities (4)
1,430 
Silver streaming agreement (7)
1,165 
Other liabilities (8)
927 
Total liabilities8,596 
Net assets acquired$9,456 
____________________________
(1)The fair value of the equity method investments was determined by applying the income valuation method. The income valuation method relies on a discounted cash flow model and projected financial results. Discount rates for the discounted cash flow models are based on capital structures for similar market participants and included various risk premiums that account for risks associated with the specific investments.
(2)The fair value of property, plant and mine development is based on applying the income and cost valuation methods and includes a provision for the estimated fair value of asset retirement obligations related to the long-lived tangible assets.
(3)Goodwill attributable to the North America and South America reportable segments is $2,091 and $459, respectively. During the first quarter of 2020, the Company reclassified $84 of goodwill previously allocated to the Red Lake reporting unit, and included in Assets held for sale as of December 31, 2019, to other reporting units in the North America reportable segment as a result of refinements to deferred tax liability allocations during the first quarter that existed at the acquisition date. The Company disposed $47 of goodwill remaining at Red Lake on March 31, 2020 as part of the Red Lake Sale. See Note 10 for additional information.
(4)Deferred income tax assets and liabilities represent the future tax benefit or future tax expense associated with the differences between the fair value allocated to assets (excluding goodwill) and liabilities and the historical carryover tax basis of these assets and liabilities. No deferred tax liability is recognized for the basis difference inherent in the fair value allocated to goodwill.
(5)The fair value of the Goldcorp Senior Notes is measured using a market approach, based on quoted prices for the acquired debt; $1,250 of borrowings under the term loan and revolving credit agreements approximate fair value.
(6)The fair value of reclamation and remediation liabilities is based on the expected amounts and timing of cash flows for closure activities and discounted to present value using a credit-adjusted risk-free rate as of the acquisition date. Key assumptions include the costs and timing of key closure activities based on the life of mine plans, including estimates and timing of monitoring and water management costs (if applicable) after the completion of initial closure activities.
(7)The fair value of the acquired silver streaming intangible liability is valued by using the income valuation method. Key assumptions in the income valuation method include long-term silver prices, level of silver production over the life of mine and discount rates.
(8)Other liabilities includes the balance of $450 related to unrecognized tax benefits, interest and penalties.
Pro Forma Financial Information
The following unaudited pro forma financial information presents consolidated results assuming the Goldcorp acquisition occurred on January 1, 2019.
Year Ended December 31, 2019
Sales$10,468 
Net income (loss) (1)
$2,666 
____________________________
(1)Included in Net income (loss) attributable to Newmont stockholders is $260 of Newmont Goldcorp transaction and integration costs for the year ended December 31, 2019.
v3.22.0.1
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company regularly reviews its segment reporting for alignment with its strategic goals and operational structure as well as for evaluation of business performance and allocation of resources by Newmont’s Chief Operating Decision Maker ("CODM") and has determined that its operations are organized into five geographic regions: North America, South America, Australia, Africa and Nevada, which also represent Newmont’s reportable and operating segments.
The Company’s investment in the Pueblo Viejo mine is included in the South America reportable segment within Other South America. All other equity method investments are included in Corporate and other.
The Company’s Nevada reportable segment included the Carlin, Phoenix, Twin Creeks and Long Canyon mines (“existing Nevada mining operations”). On July 1, 2019, the Company contributed its existing Nevada mining operations in exchange for a 38.5% ownership interest in NGM. See Note 1 for further information.
Notwithstanding the reportable segments structure, the Company internally reports information on a mine-by-mine basis for each mining operation and has chosen to disclose this information in the following tables. Income (loss) before income and mining tax and other items from reportable segments does not reflect general corporate expenses, interest (except project-specific interest) or income and mining taxes. Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance. Newmont’s business activities that are not included within the reportable segments are included in Corporate and Other. Although they are not required to be included in this footnote, they are provided for reconciliation purposes. The financial information relating to the Company’s segments is as follows:
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures(1)
Year Ended December 31, 2021
CC&V$396 $238 $66 $18 $64 $777 $42 
Musselwhite277 157 80 7 30 1,317 39 
Porcupine517 269 91 17 121 1,572 68 
Éléonore446 237 139 5 60 1,062 46 
Peñasquito:
Gold1,250 395 201 
Silver651 332 169 
Lead172 76 39 
Zinc561 256 112 
Total Peñasquito2,634 1,059 521 8 979 6,561 144 
Other North America— — 14 5 (32)66 — 
North America
4,270 1,960 911 60 1,222 11,355 339 
Yanacocha471 232 111 18 (1,552)1,735 171 
Merian780 326 98 11 328 952 47 
Cerro Negro480 243 137 9 68 2,183 108 
Other South America— — 5 35 (632)2,282 2 
South America
1,731 801 351 73 (1,788)7,152 328 
Boddington:
Gold1,212 607 99 
Copper295 143 23 
Total Boddington1,507 750 122 8 627 2,261 174 
Tanami879 278 100 24 466 1,334 304 
Other Australia— — 6 16 62 45 7 
Australia2,386 1,028 228 48 1,155 3,640 485 
Ahafo864 425 143 22 269 2,425 213 
Akyem680 261 120 10 284 990 66 
Other Africa— — — 2 (11)3 — 
Africa1,544 686 263 34 542 3,418 279 
NGM2,291 960 550 30 818 7,584 234 
Nevada
2,291 960 550 30 818 7,584 234 
Corporate and Other— — 20 118 (841)7,415 28 
Consolidated$12,222 $5,435 $2,323 $363 $1,108 $40,564 $1,693 
____________________________
(1)Includes accrued costs associated with the Tanami Expansion of $29, which are included in Lease and other financing obligations, and an increase in accrued capital expenditures of $11. Consolidated capital expenditures on a cash basis were $1,653.
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures(1)
Year Ended December 31, 2020
CC&V$478 $245 $80 $15 $129 $755 $41 
Red Lake (2)
67 45 2 1 20 — 4 
Musselwhite180 117 62 7 (40)1,324 58 
Porcupine566 244 109 17 171 1,565 43 
Éléonore371 181 109 5 47 1,115 43 
Peñasquito:
Gold894 286 168 
Silver510 201 117 
Lead134 77 45 
Zinc348 221 121 
Total Peñasquito1,886 785 451 3 544 6,824 127 
Other North America— — 27 8 (88)100 2 
North America
3,548 1,617 840 56 783 11,683 318 
Yanacocha593 345 123 12 (165)1,832 111 
Merian822 328 102 11 375 993 42 
Cerro Negro404 166 139 4 8 2,139 49 
Other South America— — 7 31 (57)2,736 2 
South America
1,819 839 371 58 161 7,700 204 
Boddington:
Gold1,221 579 102 
Copper155 107 19 
Total Boddington1,376 686 121 3 526 2,238 160 
Tanami871 251 102 16 442 1,095 212 
Other Australia— — 7 16 448 59 8 
Australia2,247 937 230 35 1,416 3,392 380 
Ahafo853 375 145 22 278 2,224 120 
Akyem671 234 120 9 291 1,000 27 
Other Africa— — — 3 (12)3 — 
Africa1,524 609 265 34 557 3,227 147 
NGM2,359 1,012 579 42 700 7,753 241 
Nevada2,359 1,012 579 42 700 7,753 241 
Corporate and Other— — 15 84 (474)7,614 49 
Consolidated$11,497 $5,014 $2,300 $309 $3,143 $41,369 $1,339 
____________________________
(1)Includes an increase in accrued capital expenditures of $37; consolidated capital expenditures on a cash basis were $1,302.
(2)On March 31, 2020, the Company sold Red Lake. Refer to Note 10 for additional information.
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures(1)
Year Ended December 31, 2019
CC&V$445 $290 $95 $13 $39 $770 $35 
Red Lake (2)(3)
159 136 50 7 (47)589 29 
Musselwhite (2)(4)
7 13 28 7 (6)1,301 60 
Porcupine (2)
338 185 66 14 58 1,859 61 
Éléonore (2)
378 214 80 8 65 1,323 55 
Peñasquito: (2)
Gold209 116 43 
Silver253 181 66 
Lead85 77 29 
Zinc143 129 55 
Total Peñasquito690 503 193 6 (58)7,038 128 
Other North America— — 22 5 (161)4 8 
North America2,017 1,341 534 60 (110)12,884 376 
Yanacocha735 400 113 24 83 1,803 185 
Merian734 297 93 11 331 990 56 
Cerro Negro (2)
502 210 111 22 132 2,213 55 
Other South America— — 12 40 (67)2,809 1 
South America1,971 907 329 97 479 7,815 297 
Boddington:
Gold999 575 106 
Copper166 117 22 
Total Boddington1,165 692 128 3 330 2,148 78 
Tanami697 266 96 12 314 966 124 
Kalgoorlie (3)
319 216 27 6 67 434 34 
Other Australia— — 7 24 (32)62 10 
Australia2,181 1,174 258 45 679 3,610 246 
Ahafo880 393 160 33 295 2,057 213 
Akyem585 235 150 14 176 993 33 
Other Africa— — — 6 (16)3 — 
Africa1,465 628 310 53 455 3,053 246 
NGM (5)
1,022 494 298 22 203 8,096 138 
Carlin (6)
533 358 107 15 46 — 64 
Phoenix: (6)
Gold151 116 33 
Copper44 28 9 
Total Phoenix195 144 42 1 29 — 13 
Twin Creeks (6)
230 113 31 5 89 — 30 
Long Canyon (6)
126 36 36 12 40 — 7 
Other Nevada (6)
— — 2 8 (9)— 5 
Nevada2,106 1,145 516 63 398 8,096 257 
Corporate and Other— — 13 97 1,792 4,516 32 
Consolidated$9,740 $5,195 $1,960 $415 $3,693 $39,974 $1,454 
____________________________
(1)Includes a decrease in accrued capital expenditures of $9; consolidated capital expenditures on a cash basis were $1,463.
(2)Sites acquired as part of the Newmont Goldcorp transaction, effective April 18, 2019.
(3)On January 2, 2020, the Company sold its 50% interest in Kalgoorlie and on March 31, 2020, the Company sold Red Lake. There were no operating results at Kalgoorlie for the year ended December 31, 2020. The assets and liabilities of these sites were classified as held for sale on the Consolidated Balance Sheet as of December 31, 2019. Refer to Note 10 for additional information.
(4)Costs applicable to sales are partially offset by insurance recoveries received during 2019. Refer to Note 11 for additional information.
(5)For the year ended December 31, 2019, the Company billed NGM $213 for services provided under the employee lease agreement. The leasing period expired on December 31, 2019.
(6)Newmont contributed its existing Nevada mining operations in exchange for a 38.5% interest in NGM, effective July 1, 2019. Amounts include sales of finished goods inventory retained and not contributed to NGM on the effective date, pursuant to the Nevada JV Agreement.
Long-lived assets, which primarily consist of Property, plant and mine development, net and non-current Stockpiles and ore on leach pads, were as follows:
At December 31,
20212020
United States$7,462 $7,631 
Mexico4,795 5,032 
Canada4,031 3,557 
Australia3,258 2,923 
Ghana2,517 2,468 
Peru1,680 2,148 
Argentina1,526 1,562 
Suriname742 762 
$26,011 $26,083 
v3.22.0.1
SALES
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Sales SALES
The following tables present the Company’s Sales by mining operation, product and inventory type:
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Year Ended December 31, 2021
CC&V$382 $14 $396 
Musselwhite 277 — 277 
Porcupine 517 — 517 
Éléonore 446 — 446 
Peñasquito:
Gold207 1,043 1,250 
Silver (1)
— 651 651 
Lead— 172 172 
Zinc— 561 561 
Total Peñasquito207 2,427 2,634 
North America1,829 2,441 4,270 
Yanacocha451 20 471 
Merian780 — 780 
Cerro Negro 480 — 480 
South America1,711 20 1,731 
Boddington:
Gold311 901 1,212 
Copper— 295 295 
Total Boddington311 1,196 1,507 
Tanami879 — 879 
Australia1,190 1,196 2,386 
Ahafo864 — 864 
Akyem680 — 680 
Africa1,544 — 1,544 
NGM (2)
2,216 75 2,291 
Nevada2,216 75 2,291 
Consolidated$8,490 $3,732 $12,222 
____________________________
(1)Silver sales from concentrate includes $79 related to non-cash amortization of the silver streaming agreement liability.
(2)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $2,212 for the year ended December 31, 2021.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Year Ended December 31, 2020
CC&V $478 $— $478 
Red Lake (1)
67 — 67 
Musselwhite180 — 180 
Porcupine566 — 566 
Éléonore371 — 371 
Peñasquito:
Gold84 810 894 
Silver (2)
— 510 510 
Lead— 134 134 
Zinc— 348 348 
Total Peñasquito84 1,802 1,886 
North America1,746 1,802 3,548 
Yanacocha592 1 593 
Merian822 — 822 
Cerro Negro404 — 404 
South America1,818 1 1,819 
Boddington:
Gold290 931 1,221 
Copper— 155 155 
Total Boddington290 1,086 1,376 
Tanami871 — 871 
Australia1,161 1,086 2,247 
Ahafo853 — 853 
Akyem671 — 671 
Africa1,524 — 1,524 
NGM (3)
2,285 74 2,359 
Nevada2,285 74 2,359 
Consolidated$8,534 $2,963 $11,497 
____________________________
(1)On March 31, 2020, the Company sold Red Lake. Refer to Note 10 for additional information.
(2)Silver sales from concentrate includes $67 related to non-cash amortization of the silver streaming agreement liability.
(3)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $2,293 for the year ended December 31, 2020.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Year Ended December 31, 2019
CC&V$445 $— $445 
Red Lake (1)
159 — 159 
Musselwhite (1)
7 — 7 
Porcupine (1)
338 — 338 
Éléonore (1)
378 — 378 
Peñasquito: (1)
Gold17 192 209 
Silver (2)
— 253 253 
Lead— 85 85 
Zinc— 143 143 
Total Peñasquito17 673 690 
North America1,344 673 2,017 
Yanacocha735 — 735 
Merian734 — 734 
Cerro Negro (1)
502 — 502 
South America1,971 — 1,971 
Boddington:
Gold238 761 999 
Copper— 166 166 
Total Boddington238 927 1,165 
Tanami697 — 697 
Kalgoorlie (3)
319 — 319 
Australia1,254 927 2,181 
Ahafo880 — 880 
Akyem585 — 585 
Africa1,465 — 1,465 
NGM1,000 22 1,022 
Carlin (4)
533 — 533 
Phoenix: (4)
Gold52 99 151 
Copper— 44 44 
Total Phoenix52 143 195 
Twin Creeks (4)
230 — 230 
Long Canyon (4)
126 — 126 
Nevada (5)
1,941 165 2,106 
Consolidated$7,975 $1,765 $9,740 
____________________________
(1)Sites acquired as part of the Newmont Goldcorp transaction, effective April 18, 2019.
(2)Silver sales from concentrate includes $37 related to non-cash amortization of the silver streaming agreement liability.
(3)On January 2, 2020, the Company sold its 50% interest in Kalgoorlie. There were no operating results at Kalgoorlie for the years ended December 31, 2021 and 2020. Refer to Note 10 for additional information.
(4)Newmont contributed its existing Nevada mining operations in exchange for a 38.5% interest in NGM, effective July 1, 2019.
(5)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $1,002 for the year ended December 31, 2019.
Trade Receivables
The following table details the receivables included within Trade receivables:
At December 31,
2021		At December 31,
2020
Receivables from Sales:
Gold sales from doré production$40 $59 
Sales from concentrate and other production297 390 
Total receivables from Sales$337 $449 
Provisional Sales
The Company sells gold, copper, silver, lead and zinc concentrates on a provisional basis. Provisional concentrate sales contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the concentrates at the prevailing indices’ prices at the time of sale. The embedded derivative, which is not designated for hedge accounting treatment, is marked to market through earnings each period prior to final settlement with unrealized gains and losses recognized within sales through earnings.
The impact to Sales from revenue recognized due to the changes in pricing is an increase (decrease) of $32, $80 and $22 for the years ended December 31, 2021, 2020, and 2019, respectively.
At December 31, 2021, Newmont had the following provisionally priced concentrate sales subject to final pricing over the next several months:
Provisionally Priced Sales
Subject to Final Pricing		Average Provisional
Price (per ounce/pound)
Gold (ounces/thousands) 171 $1,807 
Copper (pounds/millions)25 $4.39 
Silver (ounces/millions)5$23.09 
Lead (pounds/millions)22$1.06 
Zinc (pounds/millions)58$1.62 
Silver Streaming Agreement
As a part of the Newmont Goldcorp transaction, the Company assumed the Silver streaming agreement liability related to silver production from the Peñasquito mine in the North America segment. Pursuant to the agreement, the Company is obligated to sell 25% of silver production from the Peñasquito mine to Wheaton Precious Metals Corporation at the lesser of market price or a fixed contract price, subject to an annual inflation adjustment of up to 1.65%. This agreement contains off-market terms and was initially recognized at its acquisition date fair value as a finite-lived intangible liability. The Company’s policy is to amortize the liability into Sales each period using the units-of-production method. During the years ended December 31, 2021, 2020, and 2019, the Company amortized $79, $67, and $37, respectively, of the Silver streaming agreement liability into revenue. At December 31, 2021 and 2020, the value of the liability included in the Consolidated Balance Sheet was $981 and $1,060, respectively.
Revenue by Geographic Area
Newmont primarily conducts metal sales in U.S. dollars, and therefore Sales are not exposed to fluctuations in foreign currencies. Revenues from sales attributed to countries based on the customer’s location were as follows:
Years Ended December 31,
202120202019
United Kingdom$8,404 $8,489 $7,980 
South Korea1,665 1,317 538 
Mexico642 277 190 
Japan386 244 172 
Germany282 277 203 
Switzerland275 243 120 
Philippines264 242 293 
United States62 97 78 
Other (1)
242 311 166 
$12,222 $11,497 $9,740 
____________________________
(1)Other includes $79, $67, and $37 related to non-cash amortization of the Silver streaming agreement liability for the years ended December 31, 2021, 2020, and 2019, respectively.
Revenue by Major Customer
As gold can be sold through numerous gold market traders worldwide, the Company is not economically dependent on a limited number of customers for the sale of its product. In 2021, sales to Standard Chartered were $4,634 (38%) and JPMorgan Chase were $2,002 (17%) of total gold sales. In 2020, sales to JPMorgan Chase were $2,775 (24%) and Standard Chartered were $2,737 (24%) of total gold sales. In 2019 sales to Standard Chartered were $2,907 (30%), JPMorgan Chase were $1,780 (18%) and Toronto Dominion Bank were $1,204 (12%) of total gold sales.
The Company sells silver, lead, zinc and copper predominantly in the form of concentrates which are sold directly to smelters located in Asia and to a lesser extent North America and Europe. The concentrates are sold under long-term supply contracts with processing fees based on the demand for these concentrates in the global market place.
v3.22.0.1
RECLAMATION AND REMEDIATION
 12 Months Ended
Dec. 31, 2021
Environmental Remediation Obligations [Abstract]  
RECLAMATION AND REMEDIATION RECLAMATION AND REMEDIATION
The Company’s mining and exploration activities are subject to various domestic and international laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company conducts its operations to protect public health and the environment and believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. Estimated future reclamation and remediation costs are based principally on current legal and regulatory requirements.
The Company’s Reclamation and remediation expense consisted of:
Years Ended December 31,
202120202019
Reclamation adjustments and other$1,633 $180 $77 
Reclamation accretion125 134 133 
Total reclamation expense1,758 314 210 
Remediation adjustments and other82 46 65 
Remediation accretion6 6 5 
Total remediation expense88 52 70 
$1,846 $366 $280 
In 2021, reclamation adjustments were primarily comprised of $1,554 related to portions of the Yanacocha site operations that are no longer in production and with no expected substantive future economic value (i.e., non-operating). Refer to Note 26 for further discussion. In 2020, reclamation adjustments primarily related to increased lime consumption and water treatment costs at non-operating Yanacocha sites and an update to the project cost estimates at non-operating Porcupine sites that resulted in increases of $152 and $16, respectively. In 2019, reclamation adjustments primarily related to updated water management costs at non-operating
Yanacocha sites and an update of the project cost estimates at Mule Canyon and Northumberland mine sites that resulted in increases of $62, $9 and $4, respectively.

In 2021, remediation adjustments are primarily due to revisions to estimated construction costs of the water treatment plant at the Midnite Mine and higher estimated closure cost arising from recent tailings management review and monitoring requirements set forth by the Global Industry Standard on Tailings Management ("GISTM"). In 2020, remediation adjustments primarily related to project execution delays due to COVID-19 and updated project cost estimates at the Midnite mine and Dawn mill sites of $27 and other remediation project spend at other sites. In 2019, remediation adjustments primarily related to updated project cost estimates at the Midnite mine and Dawn mill sites and increased water management cost estimates at Con mine that resulted in increases of $36 and $9, respectively.
The following are reconciliations of Reclamation and remediation liabilities:
ReclamationRemediationTotal
Balance at January 1, 2020$3,334 $299 $3,633 
Additions, changes in estimates and other312 33 345 
Adjustment from the Newmont Goldcorp transaction15 — 15 
Payments, net(76)(25)(101)
Accretion expense134 6 140 
Balance at December 31, 20203,719 313 4,032 
Additions, changes in estimates and other2,045 67 2,112 
Other acquisitions and divestitures(3)1 (2)
Payments, net(118)(43)(161)
Accretion expense125 6 131 
Balance at December 31, 2021 (1)
$5,768 $344 $6,112 
____________________________
(1)Total reclamation liabilities includes $3,250 related to Yanacocha.
At December 31,
20212020
ReclamationRemediationTotalReclamationRemediationTotal
Current (1)
$213 $60 $273 $164 $50 $214 
Non-current (2)
5,555 284 5,839 3,555 263 3,818 
Total$5,768 $344 $6,112 $3,719 $313 $4,032 
____________________________
(1)The current portion of reclamation and remediation liabilities are included in Other current liabilities. Refer to Note 23.
(2)The non-current portion of reclamation and remediation liabilities are included in Reclamation and remediation liabilities.
The Company is also involved in several matters concerning environmental remediation obligations associated with former, primarily historic, mining activities. Generally, these matters concern developing and implementing remediation plans at the various sites involved. Depending upon the ultimate resolution of these matters, the Company believes that it is reasonably possible that the liability for these matters could be as much as 45% greater or —% lower than the amount accrued at December 31, 2021. These amounts are included in Other current liabilities and Reclamation and remediation liabilities. The amounts accrued are reviewed periodically based upon facts and circumstances available at the time. Changes in estimates are recorded in Reclamation and remediation in the period estimates are revised.
Included in Other non-current assets at December 31, 2021 and 2020 are $49 and $56 respectively, of non-current restricted cash held for purposes of settling reclamation and remediation obligations. Of the amounts at December 31, 2021, $40 was related to the Ahafo and Akyem mines in Ghana, Africa and $4 related to NGM in Nevada, United States, $3 was related to the Midnite mine and Dawn mill site in Washington, United States and $2 was related to the Ross Adams Mine in Alaska, United States. Of the amounts at December 31, 2020, $48 was related to the Ahafo and Akyem mines in Ghana, Africa, $6 related to NGM in Nevada, United States and $2 was related to the Midnite mine and Dawn mill site in Washington, United States.
Included in Other non-current assets at December 31, 2021 and 2020 was $51 and $38, respectively, of non-current restricted investments, which are legally pledged for purposes of settling reclamation and remediation obligations. Of the amounts at December 31, 2021, $11 is related to the Midnite mine and Dawn mill sites in Washington, United States, $16 related to Akyem in Ghana, Africa and $24 is related to San Jose Reservoir in Peru, South America. Of the amounts at December 31, 2020, $14 is related to the Midnite mine and Dawn mill sites in Washington, United States and $24 is related to San Jose Reservoir in Peru, South America.
Refer to Note 26 for further discussion of reclamation and remediation matters.
v3.22.0.1
CARE AND MAINTENANCE
 12 Months Ended
Dec. 31, 2021
Other Income and Expenses [Abstract]  
CARE AND MAINTENANCE CARE AND MAINTENANCE
Care and maintenance costs represent direct operating costs and depreciation and amortization costs incurred during the period the sites were temporarily placed into care and maintenance or operating at reduced levels in response to the COVID-19 pandemic. The following table includes direct operating costs incurred and reported as Care and maintenance:
Year Ended December 31,
202120202019
Tanami$8 $— $— 
Musselwhite— 28 — 
Éléonore— 26 — 
Peñasquito— 38 — 
Yanacocha— 27 — 
Cerro Negro— 56 — 
Other South America— 3 — 
$8 $178 $— 
Additionally, for the year ended December 31, 2021, the Company recognized non-cash care and maintenance costs included in Depreciation and amortization of $3 at Tanami. For the year ended December 31, 2020, the Company recognized non-cash care and maintenance costs included in Depreciation and amortization of $7 at Musselwhite, $16 at Éléonore, $28 at Peñasquito, $7 at Yanacocha and $30 at Cerro Negro.
v3.22.0.1
LOSS ON ASSETS HELD FOR SALE
 12 Months Ended
Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]  
LOSS ON ASSETS HELD FOR SALE LOSS ON ASSETS HELD FOR SALE
In the third quarter of 2021, the Company entered into a binding agreement to sell certain equipment and assets originally acquired for the Conga project in Peru within our South America segment (the "Conga mill assets") for total cash proceeds of $68. Pursuant to the terms of the agreement, the sale is expected to close upon the delivery of the assets and receipt of the final payment at which time title and control of the assets will transfer, currently expected to occur within approximately one year. As of December 31, 2021, the Company has received payments of $17 included in Other current liabilities.
Prior to entering the binding agreement, the Conga mill assets, which were otherwise expected to be used in future operations associated with the long-term development of the Conga project, had a carrying value of $593 included in Property, plant and mine development, net. Upon entering the binding agreement, the Conga mill assets were reclassified as held for sale, included in Other current assets on our Consolidated Balance Sheet as of December 31, 2021, and remeasured at fair value less costs to sell. Refer to Note 15 for further information. As a result, a loss of $571 was recognized and included in Loss on assets held for sale within the Consolidated Statements of Operations for the year ended December 31, 2021.
The remaining total assets at Conga as of December 31, 2021 were approximately $900. As of December 31, 2021, the Company has not identified events or changes in circumstances that indicate that the remaining carrying value of the Conga project is not recoverable. Although the Company has entered into the binding agreement to sell the Conga mill assets, it will continue to evaluate long-term options to progress development of the Conga project.
v3.22.0.1
OTHER EXPENSE, NET
 12 Months Ended
Dec. 31, 2021
Operating Costs and Expenses [Abstract]  
OTHER EXPENSE, NET OTHER EXPENSE, NET
Year Ended December 31,
202120202019
COVID-19 specific costs$87 $92 $— 
Impairment of long-lived and other assets25 49 5 
Settlement costs11 58 5 
Restructuring and severance11 18 7 
Goldcorp transaction and integration costs— 23 217 
Nevada JV transaction and implementation costs— — 30 
Other26 15 36 
$160 $255 $300 
COVID-19 specific costs. COVID-19 specific costs represent incremental direct costs incurred, including but not limited to contributions to the Newmont Global Community Support Fund, additional health screenings, incremental travel, security and employee related costs as well as various other incremental costs incurred as a result of actions taken to protect against the impacts of the COVID-19 pandemic and to comply with local mandates. The Company established the Newmont Global Community Support Fund to help host communities, governments and employees combat the COVID-19 pandemic. For the years ended December 31, 2021 and 2020, $3 and $11 were distributed from this fund, respectively.
Impairment of long-lived and other assets. Impairment of long-lived and other assets represents non-cash write-downs of various assets that are no longer in use.
Settlement costs. Settlement costs for the year ended December 31, 2021 are primarily comprised of a $10 voluntary contribution made to the Republic of Suriname and other certain costs associated with legal and other settlements. Settlement costs for the year ended December 31, 2020 primarily include costs related to the ecological tax obligation at Peñasquito in Mexico, mineral interest settlements at Ahafo and Akyem in Africa, the Cedros community agreement at Peñasquito in Mexico, a water related settlement at Yanacocha in Peru and other related costs. Settlement costs for the year ended December 31, 2019 include legal and other settlements.
Restructuring and severance. Restructuring and severance primarily represents severance and related costs associated with significant organizational and operating model changes implemented by the Company for all periods presented.
Goldcorp transaction and integration costs. Goldcorp transaction and integration costs for the years ended December 31, 2020 and 2019 primarily include integration activities and related investment banking and legal costs, severance, accelerated share award payments and consulting services.
Nevada JV transaction and implementation costs. Nevada JV transaction and implementation costs for the year ended December 31, 2019 primarily represent legal and hostile defense fees, investment banking fees and severance costs incurred related to the Nevada JV Agreement
v3.22.0.1
GAIN ON ASSET AND INVESTMENT SALES, NET
 12 Months Ended
Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
GAIN ON ASSET AND INVESTMENT SALES, NET GAIN ON ASSET AND INVESTMENT SALES, NET
Year Ended December 31,
202120202019
Sale of Kalgoorlie$83 $493 $— 
Exchange of Lone Tree79 — — 
Sale of TMAC42 — — 
Sale of Continental— 91 — 
Sale of royalty interests— 75 — 
Sale of Red Lake— 9 — 
Gain on formation of MARA— 6 — 
Other8 3 30 
$212 $677 $30 

Sale of Kalgoorlie. On January 2, 2020, the Company completed the sale of its 50% interest in Kalgoorlie Consolidated Gold Mines (“Kalgoorlie”), included as part of the Australia segment, to Northern Star Resources Limited (“Northern Star”). Pursuant to the terms of the agreement, the Company received cash proceeds of $800. The proceeds were inclusive of a $25 payment that gave Northern Star specified exploration tenements, transitional services support and an option to negotiate exclusively for the purchase of Newmont’s Kalgoorlie power business for fair market value. In December 2021, the Company completed the sale of the Kalgoorlie power business to Northern Star for proceeds of $95, inclusive of the $25 deposit received in 2020. The Company received $70 in cash proceeds during 2021 and recognized a gain of $83, included in Gain on asset and investment sales, net.
Exchange of Lone Tree. For further information related to the exchange of the Lone Tree and South Arturo properties at NGM, refer to Note 1.
Sale of TMAC. For further information related to the sale of investment holdings in TMAC Resources, Inc. ("TMAC"), refer to Note 16.
Sale of Continental. On March 4, 2020, the Company completed the sale of its entire interest in Continental Gold, Inc. ("Continental"), including its convertible debt, to Zijin Mining Group. Pursuant to the terms of the agreement, the Company received cash proceeds of $253, resulting in recognition of a gain of $91 included in Gain on asset and investment sales, net.
Sale of royalty interests. In 2020, the Company completed the sale of certain royalty interests to Maverix Metals Inc. ("Maverix"), with a carrying value of $—, for cash consideration and additional equity ownership in Maverix. The Company received total consideration of $75 from Maverix, consisting of $15 in cash and $60 in equity (12 million common shares at $5.02 per share). In addition, the Company will receive up to $15 in contingent cash payments payable upon completion of certain milestones.
Sale of Red Lake. On March 31, 2020, the Company completed the sale of the Red Lake complex in Ontario, Canada, included in the Company’s North America segment, to Evolution Mining Limited. Pursuant to the terms of the agreement, the Company received total consideration of $429, including cash proceeds of $375, $15 towards working capital (received in cash in the second quarter of 2020), and the potential to receive contingent payments of up to an additional $100 tied to new mineralization discoveries over a
fifteen year period. The contingent payments are considered an embedded derivative with a fair value of $42 and $42 at December 31, 2021 and December 31, 2020, respectively. For further information, refer to Note 15.
Gain on formation of MARA. In December 2020, the Company contributed its 37.5% ownership interest in Alumbrera in exchange for 18.75% ownership interest in Minera Agua Rica Alumbrera Limited ("MARA"), a joint venture with Glencore International AG (“Glencore”) and Yamana Gold Inc. (“Yamana”) consisting of the Alumbrera mine and the Agua Rica project, located in Argentina. The 18.75% ownership interest in MARA is accounted for as an equity security as of December 31, 2021. The carrying value of our investment in Alumbrera was $47 on the date of the exchange. The equity security in MARA is accounted for under the measurement alternative and was recorded at $53, resulting in a gain of $6 recognized in Gain on asset and investment sales, net.
v3.22.0.1
OTHER INCOME (LOSS), NET
 12 Months Ended
Dec. 31, 2021
Other Income, Nonoperating [Abstract]  
OTHER INCOME (LOSS), NET OTHER INCOME (LOSS), NET
Year Ended December 31,
202120202019
Change in fair value of investments$(135)$252 $166 
Foreign currency exchange, net23 (73)(7)
Interest18 24 57 
Charges from debt extinguishment(11)(77)— 
Pension settlements and curtailments(4)(92)20 
Impairment of investments(1)(93)(2)
Insurance proceeds— — 38 
Other23 27 25 
$(87)$(32)$297 
Change in fair value of investments. Change in fair value of investments primarily represents unrealized holding gains and losses related to the Company's investments in current and non-current marketable equity securities.
Pension settlements and curtailments. Pension settlements and curtailments primarily represents pension settlement charges due to lump sum payments to participants in 2021 and 2020 and pension curtailments gains in 2019. For additional information regarding pension and other post-employment benefits, see Note 13.
Charges from debt extinguishment. In 2021, the Company recorded charges from debt extinguishment of $11 related to the early redemption of its Senior Notes due March 15, 2022 ("2022 Senior Notes") and the debt tender offer of its Newmont Senior Notes due March 15, 2023 (“2023 Newmont Senior Notes”) and its Goldcorp Senior Notes due March 15, 2023 (“2023 Goldcorp Senior Notes”). In 2020, the Company recorded charges from debt extinguishment of $69 related to the debt tender offer of its Senior Notes due March 15, 2022 ("2022 Senior Notes"), its Newmont Senior Notes due March 15, 2023 (“2023 Newmont Senior Notes”) and its Goldcorp Senior Notes due March 15, 2023 (“2023 Goldcorp Senior Notes”), and a loss of $8 related to the forward starting swaps associated with the 2022 Senior Notes, reclassified from Accumulated other comprehensive income (loss).
Impairment of investments. During the first quarter of 2020, the Company recognized an other-than-temporary impairment on the carrying value of TMAC of $93.
v3.22.0.1
INCOME AND MINING TAXES
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
INCOME AND MINING TAXES INCOME AND MINING TAXES
The Company’s Income and mining tax benefit (expense) consisted of:
Year Ended December 31,
202120202019
Current:
United States$(71)$(35)$2 
Foreign(1,136)(891)(500)
(1,207)(926)(498)
Deferred:
United States5 72 (340)
Foreign104 150 6 
109 222 (334)
$(1,098)$(704)$(832)
The Company’s Income (loss) before income and mining tax and other items consisted of:
Year Ended December 31,
202120202019
United States$247 $631 $2,396 
Foreign861 2,512 1,297 
$1,108 $3,143 $3,693 
The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
Years Ended December 31,
202120202019
Income (loss) before income and mining tax and other items$1,108 $3,143 $3,693 
U.S. Federal statutory tax rate21 %$(233)21 %$(660)21 %$(776)
Reconciling items:
Percentage depletion(7)71 (2)77 (1)55 
Change in valuation allowance on deferred tax assets38 (419)6 (186)(8)296 
Rate differential for foreign earnings indefinitely reinvested10 (108)8 (268)4 (140)
Mining and other taxes (net of associated federal benefit)15 (173)5 (151)2 (90)
Uncertain tax position reserve adjustment9 (99)(1)21 2 (70)
Tax impact on sale of Kalgoorlie— — (11)353 — — 
Expiration of U.S. Capital Losses14 (152)— — 1 (34)
Other(1)15 (4)110 2 (73)
Income and mining tax benefit (expense)99 %$(1,098)22 %$(704)23 %$(832)
Factors that Significantly Impact Effective Tax Rate (Other than Factors Described Separately Below)
Percentage depletion allowances (tax deductions for depletion that may exceed the tax basis in the mineral reserves) are available to the Company under the income tax laws of the United States for operations conducted in the United States or through branches and partnerships owned by U.S. subsidiaries included in the consolidated United States income tax return. These deductions are highly sensitive to the price of gold and other minerals produced by the Company.
The Company operates in various jurisdictions around the world that have statutory tax rates that are significantly different than those of the U.S. These differences combine to move the overall effective tax rate higher than the U.S. statutory rate.
Mining taxes in Nevada, Mexico, Canada, Peru and Australia represent state and provincial taxes levied on mining operations and are classified as income taxes as such taxes are based on a percentage of mining profits.
In the U.S., capital losses may be carried forward five years to offset capital gains. Capital loss carryforwards of $152, $—, and $34, expired in 2021, 2020 and 2019, respectively. The Company carries a full valuation allowance on U.S. capital losses.
Components of the Company's deferred income tax assets (liabilities) are as follows:
At December 31,
20212020
Deferred income tax assets:
Property, plant and mine development$928 $996 
Inventory87 62 
Reclamation and remediation1,500 892 
Net operating losses, capital losses and tax credits 1,908 1,843 
Investment in partnerships and subsidiaries 26 340 
Employee-related benefits146 162 
Derivative instruments and unrealized loss on investments74 25 
Foreign Exchange and Financing Obligations62 82 
Silver Streaming Agreement311 349 
Other124 112 
5,166 4,863 
Valuation allowances(3,791)(3,418)
$1,375 $1,445 
Deferred income tax liabilities:
Property, plant and mine development$(2,409)$(2,303)
Inventory(58)(110)
Derivative instruments and unrealized gain on investments(730)(726)
Other(53)(42)
(3,250)(3,181)
Net deferred income tax assets (liabilities)$(1,875)$(1,736)
These amounts reflect the classification and presentation that is reported for each tax jurisdiction in which the Company operates.
Valuation of Deferred Tax Assets
The Company assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the recent pretax losses and/or expectations of future pretax losses. Such objective evidence limits the ability to consider other subjective evidence such as our projections for future growth. On the basis of this evaluation, a valuation allowance has been recorded in Peru. However, the amount of the deferred tax asset considered realizable could be adjusted if estimates of future taxable income during the carryforward period are increased, if objective negative evidence in the form of cumulative losses is no longer present or if additional weight were given to subjective evidence such as our projections for growth.
During 2021, the Company recorded additional valuation allowance of $419 to tax expense, primarily driven by the increased deferred tax asset resulting from the adjustment to the Yanacocha reclamation obligation in Peru as further discussed in Note 6 and partially offset by a release in the U.S. and Canada. There were additional valuation allowance increases related to other components of the financial statements of $46.
Refer to Note 2 for additional risk factors that could impact the Company’s ability to realize the deferred tax assets.
Tax Loss Carryforwards, Foreign Tax Credits, and Canadian Tax Credits
At December 31, 2021 and 2020, the Company had (i) $2,020 and $1,726 of net operating loss carry forwards, respectively; and (ii) $669 and $659 of tax credit carry forwards, respectively. At December 31, 2021 and 2020, $586 and $502, respectively, of net operating loss carry forwards are attributable to the U.S., Australia and France for which current tax law provides no expiration period. The net operating loss carry forward in Canada of $1,169 will expire by 2041. The net operating loss carryforward in Mexico of $133 will expire in 2031. The net operating loss carry forward in other countries is $132.
Tax credit carry forwards for 2021 and 2020 of $510 and $510, respectively, consist of foreign tax credits available in the United States; substantially all such credits not utilized will expire at the end of 2031. Canadian tax credits for 2021 and 2020 of $159 and $149, respectively, consist of investment tax credits and minimum mining tax credits. Canadian investment tax credits of $84 will substantially expire by 2035, mining tax credits of $12 will expire by 2041, and the other Canadian tax credits of $63 do not expire.
Company’s Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, exclusive of interest and penalties, is as follows:
202120202019
Total amount of gross unrecognized tax benefits at beginning of year$237 $326 $43 
Additions due to acquisition of Goldcorp— — 350 
Additions (reductions) for tax positions of prior years 36 (33)1 
Additions for tax positions of current year — 4 34 
Reductions due to settlements with taxing authorities (26)(58)(102)
Reductions due to lapse of statute of limitations (2)(2)— 
Total amount of gross unrecognized tax benefits at end of year$245 $237 $326 
At December 31, 2021, 2020 and 2019, $335, $369 and $459, respectively, represent the amount of unrecognized tax benefits, inclusive of interest and penalties that, if recognized, would impact the Company’s effective income tax rate.
The Company operates in numerous countries around the world and is subject to, and pays annual income taxes under, the various income tax regimes in the countries in which it operates. Some of these tax regimes are defined by contractual agreements with the local government, and others are defined by the general corporate income tax laws of the country. The Company has historically filed, and continues to file, all required income tax returns and paid the taxes reasonably determined to be due. The tax rules and regulations in many countries are highly complex and subject to interpretation. From time to time, the Company is subject to a review of its historic income tax filings and in connection with such reviews, disputes can arise with the taxing authorities over the interpretation or application of certain rules to the Company’s business conducted within the country involved.
The Australian Taxation Office (“ATO”) is conducting a limited review of the Company’s prior year tax returns. The ATO is reviewing an internal reorganization executed in 2011 when Newmont completed a restructure of the shareholding in the Company’s Australian subsidiaries. To date, the Company has responded to inquiries from the ATO and provided them with supporting documentation for the transaction and the Company’s associated tax positions. One aspect of the ATO review relates to an Australian capital gains tax that applies to sales or transfers of stock in certain types of entities. In the fourth quarter of 2017, the ATO notified the Company that it believes the 2011 reorganization is subject to capital gains tax of approximately $85 (including interest and penalties). The Company disputes this conclusion and intends to vigorously defend its position that the transaction is not subject to this tax. In the fourth quarter of 2017, the Company made a $24 payment to the ATO and lodged an Appeal with the Australian Federal Court to preserve its right to contest the ATO conclusions on this matter. The Company reflects this payment as a receivable as it believes that it will ultimately prevail in this dispute. The Company continues to monitor the status of the ATO’s review which it expects to continue throughout 2022.
See Note 26 for a discussion on the audit settlement payments related to the Yanacocha Tax Dispute and Tax Reassessment from the Mexican Tax Authority.
The Company and/or subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. Federal, state and local, and non-U.S. income tax examinations by tax authorities for years before 2015. As a result of (i) statute of limitations that will begin to expire within the next 12 months in various jurisdictions, and (ii) possible settlements of audit-related issues with taxing authorities in various jurisdictions, the Company believes that it is reasonably possible that the total amount of its unrecognized income tax liability will decrease between $110 and $160 in the next 12 months.
The Company’s practice is to recognize interest and/or penalties related to unrecognized tax benefits as part of Income and mining tax benefit (expense). At December 31, 2021 and 2020, the total amount of accrued income-tax-related interest and penalties included in the Consolidated Balance Sheets was $138 and $146, respectively. During 2021, 2020, and 2019 the Company released $8 and $20, and accrued $29 of interest and penalties, respectively, through the Consolidated Statements of Operations.
Other
No additional income taxes have been provided for any remaining undistributed foreign earnings not subject to the transition tax, or any additional outside basis difference inherent in these entities, as these amounts continue to be indefinitely reinvested in foreign operations.
v3.22.0.1
EMPLOYEE-RELATED BENEFITS
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
EMPLOYEE-RELATED BENEFITS EMPLOYEE-RELATED BENEFITS
At December 31,
20212020
Current:
Accrued payroll and withholding taxes $339 $334 
Peruvian workers’ participation and other bonuses1823
Other post-retirement benefit plans 66
Employee pension benefits 45
Accrued severance 24
Other employee-related payables 178
$386 $380 
Non-current:
Accrued severance$278 $252 
Other post-retirement benefit plans 7884
Employee pension benefits 45 126 
Other employee-related payables 3831
$439 $493 
Pension and Other Benefit Plans
The Company provides defined benefit pension plans to eligible employees. Benefits are generally based on years of service and the employee’s average annual compensation. Various international pension plans are based on local laws and requirements. Pension costs are determined annually by independent actuaries and pension contributions to the qualified plans are made based on funding standards established under the Employee Retirement Income Security Act of 1974, as amended.
The following tables provide a reconciliation of changes in the plans’ benefit obligations and assets’ fair values for 2021 and 2020:
Pension BenefitsOther Benefits
2021202020212020
Change in benefit obligation:
Benefit obligation at beginning of year$1,117 $1,267 $90 $86 
Service cost15 17 1 1 
Interest cost30 36 3 3 
Actuarial loss (gain)(32)105 (6)4 
Settlement payments(13)(267)— — 
Foreign currency exchange (gain) loss— 1 — — 
Benefits paid(77)(42)(4)(4)
Projected benefit obligation at end of year$1,040 $1,117 $84 $90 
Accumulated benefit obligation$1,017 $1,095 $84 $90 
Change in fair value of assets:
Fair value of assets at beginning of year$986 $1,145 $— $— 
Actual return on plan assets77 106 — — 
Employer contributions41 43 4 4 
Foreign currency exchange (gain) loss— 1 — — 
Settlement payments(13)(267)— — 
Benefits paid(77)(42)(4)(4)
Fair value of assets at end of year$1,014 $986 $— $— 
(Unfunded) funded status, net:$(26)$(131)$(84)$(90)
Amounts recognized in the Consolidated Balance Sheets:
Other non-current assets$23 $— $— $— 
Employee-related benefits, current(4)(5)(6)(6)
Employee-related benefits, non-current(45)(126)(78)(84)
Net amounts recognized$(26)$(131)$(84)$(90)
The Company’s qualified pension plans are funded with cash contributions in compliance with Internal Revenue Service rules and regulations. The Company’s non-qualified and other benefit plans are currently not funded, but exist as general corporate obligations. The information contained in the above tables presents the combined funded status of qualified and non-qualified plans. The Company reviews its retirement benefit programs on a regular basis and will consider market conditions and the funded status of its qualified pension plans in determining whether additional contributions are appropriate in calendar year 2022.
As of December 31, 2021, all pension benefit plans had accumulated benefit obligations in excess of the fair value of assets with the exception of one defined benefit pension plan in the U.S. and one defined benefit pension plan in Canada. The fair value of the plan assets associated with these pension benefit plans was in excess of the related accumulated benefit obligations. As of December 31, 2020, all pension benefit plans had accumulated benefit obligations in excess of the fair value of assets. The following table provides information for the Company's defined benefit pensions plans that had aggregate accumulated benefit obligations in excess of plan assets at December 31:
Pension Benefits (1)
20212020
Accumulated benefit obligation$43 $1,095 
Projected benefit obligation50 1,117 
Fair value of plan assets1 986 
____________________________
(1)Information for other benefit plans with an accumulated benefit obligations in excess of plan assets has not be included as all of the other benefit plans are unfunded.
The significant assumptions used in measuring the Company’s benefit obligation were mortality assumptions and discount rate.
The mortality assumptions used to measure the pension and other post retirement obligation incorporate future mortality improvements from tables published by the Society of Actuaries. The Company utilized the Pri-2012 mortality tables and the MP-2020 generational projection scale to measure the pension and other post retirement obligations as of December 31, 2020. In October 2021, the Society of Actuaries released a new generational projection scale, MP-2021. The Company utilized the Pri-2012 mortality tables and the MP-2021 generational projection scales to measure the pension and other post retirement obligations as of December 31, 2021.
Yield curves matching the Company’s benefit obligations were derived using a model based on high quality corporate bond data from Bloomberg. The model develops a discount rate by selecting a portfolio of high quality corporate bonds whose projected cash flows match the projected benefit payments of the plan. The resulting curves were used to identify a weighted average discount rate for the Company of 3.06% and 2.77% at December 31, 2021 and 2020, respectively, based on the timing of future benefit payments.
Actuarial losses (gains) of $(38) were recognized in the year ended December 31, 2021, primarily due to an increase in discount rate from the prior year. Actuarial losses (gains) of $109 were recognized in the year ended December 31, 2020, primarily due to a decrease in the discount rate from the prior year.
Settlement accounting is required when annual lump sum payments exceed the annual interest and service costs for a plan and results in a remeasurement of the related pension benefit obligation and plan assets and the recognition of settlement charges in Other income (loss), net due to the acceleration of a portion of unrecognized actuarial losses. The lump sum payments were made primarily from the plan assets resulting in a pension settlement charge of $4 and $92 for the year ended December 31, 2021 and 2020, respectively.
The following table provides the net pension and other benefits amounts recognized in Accumulated other comprehensive income (loss) at December 31:
Pension BenefitsOther Benefits
2021202020212020
Accumulated other comprehensive income (loss):
Net actuarial gain (loss)$(240)$(328)$11 $6 
Prior service credit17 24 2 4 
(223)(304)13 10 
Less: Income taxes46 59 (2)(2)
$(177)$(245)$11 $8 
The following table provides components of the Total benefit cost (credit), inclusive of the net periodic pension and other benefits costs (credits), for the years ended December 31:
Pension Benefit Costs (Credits)Other Benefit Costs (Credits)
202120202019202120202019
Pension benefit costs (credits), net (1);
Service cost $15 $17 $31 $1 $1 $1 
Interest cost 30 36 47 3 3 4 
Expected return on plan assets (59)(61)(66)— — — 
Amortization, net29 29 22 (2)(1)(8)
Net periodic benefit cost (credit)$15 $21 $34 $2 $3 $(3)
Settlement cost4 92 — — — — 
(Gain) loss on curtailment— — (10)— — (18)
Restructuring (benefit) loss— — 8 — — — 
Total benefit cost (credit)$19 $113 $32 $2 $3 $(21)
____________________________
(1)Service costs are included in Costs applicable to sales or General and administrative and the other components of benefit costs are included in Other income (loss), net.
The following table provides the components recognized in Other comprehensive income (loss) for the years ended December 31:
Pension BenefitsOther Benefits
202120202019202120202019
Net loss (gain) (1)
$(48)$60 $2 $(5)$4 $8 
Amortization, net(29)(29)(22)2 1 8 
Accelerated prior service credit (cost) due to curtailment— — 12 — — 11 
Settlements(4)(92)— — — — 
Total recognized in other comprehensive income (loss)$(81)$(61)$(8)$(3)$5 $27 
Total benefit cost (credit) and other comprehensive income (loss)$(62)$52 $24 $(1)$8 $6 
____________________________
(1)Includes curtailment gain of $—, $— and $(13) for the years ended December 31, 2021, 2020 and 2019, respectively.
Actuarial losses in excess of 10 percent of the greater of the projected benefit obligation or market-related value of plan assets are amortized over the expected average remaining future service period of the current active participants.
The significant assumptions used in measuring the Company’s Total benefit cost (credit) and other comprehensive income (loss) were discount rate and expected return on plan assets:
Pension BenefitsOther Benefits
Years Ended December 31,Years Ended December 31,
202120202019202120202019
Weighted average assumptions used in measuring the net periodic benefit cost:
Discount rate 2.77 %3.49 %4.40 %2.70 %3.49 %4.40 %
Expected return on plan assets 6.75 %6.75 %6.75 %N/AN/AN/A
The expected long-term return on plan assets used for each period in the three years ended December 31, 2021 was determined based on an analysis of the asset returns over multiple time horizons for the Company’s actual plan and for other comparable U.S. corporations. At December 31, 2021, Newmont has estimated the expected long-term return on plan assets to be 6.75% which will be used in determining future net periodic benefit cost. The Company determines the long-term return on plan assets by considering the most recent capital market forecasts, the plans’ current asset allocation and the actual return on plan assets in comparison to the expected return on assets. The average actual return on plan assets during the 33 years ended December 31, 2021 approximated 8.48%.
Newmont has two pension calculations for salaried U.S. employees. The first is a “Final Average Pay” pension calculation which pays a monthly amount to employees in retirement based, in part, on their highest five year eligible earnings and years of credited service. The second is the “Stable Value” calculation which provides a lump sum payment to employees upon retirement. The
amount of the lump sum is the total of annual accruals based on the employee’s eligible earnings and years of service. The benefits accrued under the Final Average Pay formula were frozen on June 30, 2014 for those eligible employees. Beginning July 1, 2014, all future accruals are based on the terms and features of the Stable Value calculation.
The pension plans employ an independent investment firm which invests the assets of the plans in certain approved funds that correspond to specific asset classes with associated target allocations. The goal of the pension fund investment program is to achieve prudent actuarial funding ratios while maintaining acceptable risk levels. The investment performance of the plans and that of the individual investment firms is measured against recognized market indices. The performance of the pension funds are monitored by an investment committee comprised of members of the Company’s management, which is advised by an independent investment consultant. With the exception of global capital market economic risks, the Company has identified no significant portfolio risks associated to asset classes. The following is a summary of the target asset allocations for 2021 and the actual asset allocation at December 31, 2021.
Asset AllocationTargetActual at December 31,
2021
U.S. equity investments 11 %12 %
International equity investments 12 %12 %
World equity fund (U.S. and International equity investments)20 %20 %
High yield fixed income investments4 %4 %
Fixed income investments 45 %43 %
Cash equivalents— %— %
Other8 %9 %
The following table sets forth the Company’s pension plan assets measured at fair value at December 31, 2021 and 2020:
Fair Value at December 31,
20212020
Cash and cash equivalents $4 $5 
Commingled funds 1,010 981 
$1,014 $986 
Cash and cash equivalent instruments are valued based on quoted market prices in active markets, which are primarily invested in money market securities and U.S. Treasury securities.
The pension plans’ commingled fund investments are managed by several fund managers and are valued at the net asset value per share for each fund. Although the majority of the underlying assets in the funds consist of actively traded equity securities and bonds, the unit of account is considered to be at the fund level. These funds require less than a month’s notice for redemptions and can be redeemed at the net asset value per share.
The assumed health care trend rate used to measure the expected cost of benefits is 6.00% in 2022 and 2023 and decreases gradually each year to 5.00% in 2027, which is used thereafter.
Cash Flows
Benefit payments expected to be paid to pension plan participants are as follows: $61 in 2022, $62 in 2023, $63 in 2024, $61 in 2025, $63 in 2026 and $313 in total over the five years from 2027 through 2031. Benefit payments made to other benefit plan participants are expected to be as follows: $6 in 2022, $6 in 2023, $6 in 2024, $6 in 2025, $6 in 2026 and $27 in total over the five years from 2027 through 2031.
Savings Plans
The Company has one qualified defined contribution savings plan in the U.S. that covers salaried and non-union hourly employees. When an employee meets eligibility requirements, the Company matches 100% of employee contributions of up to 6% of eligible earnings. Hourly non-union employees receive an additional retirement contribution to the participant’s retirement contribution account equal to an amount which is paid and determined by the Company. Currently, the additional retirement contribution is 5% of eligible earnings. Matching contributions are made in cash. In addition, the Company has one non-qualified supplemental savings plan for executive-level employees whose benefits under the qualified plan are limited by federal regulations.
v3.22.0.1
STOCK-BASED COMPENSATION
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATIONThe Company has stock incentive plans for directors, executives and eligible employees. Stock incentive awards include restricted stock units (“RSUs”) and performance leveraged stock units (“PSUs”). The Company issues new shares of common stock to
satisfy option exercises and vesting under all of its stock incentive awards. Prior to 2012, the Company also granted options to purchase shares of stock with exercise prices not less than fair market value of the underlying stock at the date of grant. At December 31, 2021, 22,796,541 shares were authorized for future stock incentive plan awards.
Restricted Stock Units
The Company grants RSUs to directors, executives and eligible employees. Awards are determined as a target percentage of base salary and, for eligible employees, are subject to a personal performance factor. For all RSU grants issued prior to February 2018, RSU awards vest on a straight-line basis over periods of three years or more, unless the employee becomes retirement eligible prior to the vesting date. If an employee becomes retirement eligible and retires prior to the vesting date, the remaining awards vest on a pro rata basis at the retirement date. Starting with the February 2018 grant, if the employee becomes retirement eligible at any point during the vesting period, the entire award is considered earned after the later of the one year service period from the grant date or the retirement eligible date. Prior to vesting, holders of RSUs do not have the right to vote the underlying shares; however, directors, executives and eligible employees accrue dividend equivalents on their RSUs, which are paid at the time the RSUs vest. The accrued dividend equivalents are not paid if RSUs are forfeited. The RSUs are subject to forfeiture risk and other restrictions. Upon vesting, the employee is entitled to receive one share of the Company’s common stock for each restricted stock unit.
Performance Stock Units
The Company grants PSUs to eligible executives that vest after a three year performance period based on the Company's total shareholder return compared to the return of a peer group. The grant date fair value of the awards are amortized on a straight-line basis over the required performance period.
The grant date fair value of the market conditions for each PSU granted in 2021, 2020 or 2019 was determined using a Monte Carlo valuation model, which requires the input of the following subjective assumptions:
Year Ended December 31,
202120202019
Risk-free interest rate0.22%1.21%2.46%
Volatility range
31.41% - 76.72%
24.71% - 43.91%
33.50% - 58.40%
Weighted-average volatility53.05%35.38%44.49%
Expected term (years)333
Weighted-average fair market value$65.41$59.24$41.14
The risk-free interest rates are based on a U.S. Treasury yield curve in effect at the time of grant. Expected volatility is based on historical volatility of the Company's stock as well as the stock of the peer group for the three-year performance period.
Employee Stock Options
Stock options granted under the Company’s stock incentive plans vest over periods of three years or more and are exercisable over a period of time not to exceed 10 years from the grant date. The value of each option award is estimated at the grant date using the Black-Scholes option pricing model. There were no options granted in 2021, 2020 or 2019. At December 31, 2020, there were 48,956 options outstanding and exercisable with a weighted average exercise price of $59.64. During 2021, 44,006 options were exercised and 4,950 options expired with weighted average exercise prices of $59.75 and $58.69, respectively. At December 31, 2021, there were no options outstanding and exercisable.
Goldcorp Options
In connection with the Newmont Goldcorp transaction, the Company exchanged 3.6 million outstanding Goldcorp options (“Goldcorp options”) for 1.2 million Newmont options with the right to exercise each Newmont option for one share of Newmont common stock. At December 31, 2020, there were 558,749 options outstanding and exercisable with a weighted average exercise price of $58.64. During 2021, 244,894 options were exercised with a weighted average exercise price of $61.24. No options expired in 2021. At December 31, 2021, there were 313,855 options outstanding and exercisable, at a weighted average exercise price of $56.61 and a weighted average remaining contractual life of 0.6 years.
Stock-Based Compensation Activity
A summary of the status and activity of non-vested RSUs and PSUs for the year ended December 31, 2021 is as follows:
RSUPSU
Number of UnitsWeighted Average Grant-Date Fair ValueNumber of UnitsWeighted Average Grant-Date Fair Value
Non-vested at beginning of year2,173,371$42.22 1,387,281$49.16 
Granted982,952$57.60 437,481$63.68 
Vested(1,177,826)$40.08 (364,975)$44.00 
Forfeited(186,503)$51.86 (115,834)$56.26 
Non-vested at end of year1,791,994$51.06 1,343,953$55.91 
The total intrinsic value and fair value of RSUs that vested in 2021, 2020 and 2019 was $72, $81 and $60, respectively. The total intrinsic value and fair value of PSUs that vested in 2021, 2020 and 2019 was $21, $42 and $71, respectively.
Cash flows resulting from excess tax benefits are classified as part of cash flows from operating activities. Excess tax benefits are realized tax benefits from tax deductions for vested RSUs, settled PSUs, and exercised options in excess of the deferred tax asset attributable to stock compensation costs for such equity awards. The Company recorded $3, $1 and $3 in excess tax benefits for the years ended December 31, 2021, 2020 and 2019, respectively.
At December 31, 2021, there was $47 and $33 of unrecognized compensation costs related to the unvested RSUs and PSUs, respectively. This cost is expected to be recognized over a weighted average period of approximately 2 years.
The Company recognized stock-based compensation as follows:
Year Ended December 31,
202120202019
Stock-based compensation:
Restricted stock units$47 $51 $68 
Performance leveraged stock units25 21 29 
Other (1)
— 12 24 
$72 $84 $121 
____________________________
(1)Other includes Goldcorp phantom restricted share units and Goldcorp performance share units. These awards have a cash settlement provision. The Company recognizes the liability and expense for these awards ratably over the requisite service period giving effect to the adjusted fair value at the end of each reporting period.
v3.22.0.1
FAIR VALUE ACCOUNTING
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
FAIR VALUE ACCOUNTING FAIR VALUE ACCOUNTING
Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:
Level 1    Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
Level 2    Quoted prices in markets that are not active, quoted prices for similar assets or liabilities in active markets, quoted prices or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability and model-based valuation techniques (e.g. the Black-Scholes model) for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and
Level 3    Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring (at least annually) and nonrecurring basis by level within the fair value hierarchy. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
Fair Value at December 31, 2021
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents $4,992 $4,992 $— $— 
Restricted cash101 101 — — 
Trade receivable from provisional concentrate sales, net 297 — 297 — 
Assets held for sale (Note 8)
68 — 68 — 
Marketable and other equity securities (Note 16) (1)
397 318 17 62 
Restricted marketable debt securities (Note 16)
35 28 7 — 
Restricted other assets (Note 16)
16 16 — — 
Contingent consideration assets171 — — 171 
$6,077 $5,455 $389 $233 
Liabilities:
Debt (2)
$6,712 $— $6,712 $— 
Contingent consideration liabilities5 — — 5 
Other6 — 6 — 
$6,723 $— $6,718 $5 
Fair Value at December 31, 2020
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents$5,540 $5,540 $— $— 
Restricted cash108 108 — — 
Trade receivable from provisional concentrate sales, net 
379 — 379 — 
Marketable and other equity securities (Note 16) (1)
682 604 25 53 
Restricted marketable debt securities (Note 16)
38 24 14 — 
Contingent consideration assets119 — — 119 
$6,866 $6,276 $418 $172 
Liabilities:
Debt (2)
$7,586 $— $7,586 $— 
Other11 — 11 — 
$7,597 $— $7,597 $— 
____________________________
(1)Marketable and other equity securities classified as Level 2 includes warrants reported in the Maverix equity method investment balance of $8 and $14 at December 31, 2021 and December 31, 2020, respectively.
(2)Debt is carried at amortized cost. The outstanding carrying value was $5,652 and $6,031 at December 31, 2021 and December 31, 2020, respectively. The fair value measurement of debt was based on an independent third-party pricing source.
The fair values of the derivative instruments in the table above are presented on a net basis. The gross amounts related to the fair value of the derivative instruments above are immaterial. All other fair value disclosures in the above table are presented on a gross basis.
The Company’s cash and cash equivalents and restricted cash (which includes restricted cash and cash equivalents) are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets and are primarily money market securities and U.S. Treasury securities.
The Company’s net trade receivables from provisional metal concentrate sales, which contain an embedded derivative and are subject to final pricing, are valued using quoted market prices based on forward curves for the particular metal. As the contracts themselves are not traded on an exchange, these receivables are classified within Level 2 of the fair value hierarchy.
The Company's assets held for sale consist of the Conga mill assets to be sold under a binding agreement entered into during the third quarter of 2021. The assets were measured to fair value based on the negotiated sale price of $68 less costs to sell. The assets are classified as non-recurring within Level 2 of the fair value hierarchy. Refer to Note 8 for further information.
The Company’s marketable and other equity securities with readily determinable fair values are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The fair value of the marketable equity
securities are calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company.
The Company’s marketable and other equity securities without readily determinable fair values primarily consists of the Company’s ownership in MARA and warrants in publicly traded companies. The ownership in MARA is accounted for under the measurement alternative and is classified as a non-recurring Level 3 investment within the fair value hierarchy. Warrants are valued using a Black-Scholes model using quoted market prices in active markets of the underlying securities. As the warrants themselves are not traded on the exchange, these equity securities are classified within Level 2 of the fair value hierarchy.
The Company’s restricted marketable debt securities are primarily U.S. government issued bonds and international bonds. The Company’s South American debt securities are classified within Level 1 of the fair value hierarchy, using published market prices of actively traded securities. The Company’s North American debt securities are classified within Level 1 and Level 2 of the fair value hierarchy. The Level 1 debt securities are valued using published market prices of actively traded securities and the Level 2 debt securities are valued using pricing models which are based on published market inputs for similar, actively traded securities.
The Company's restricted other assets are primarily money market securities with a term longer than three months which are valued using quoted market prices in active markets. As such, they are classified within Level 1 of the fair value hierarchy.
The estimated fair value of the contingent consideration assets and liabilities are determined using discounted cash flow models. The contingent consideration assets and liabilities consist of financial instruments that meet the definition of a derivative, but are not designated for hedge accounting under ASC 815. The assets and liabilities are classified within Level 3 of the fair value hierarchy. Increases in the discount rate will result in a decrease in the estimated fair value of the contingent consideration assets and liabilities.
The following tables set forth a summary of the quantitative and qualitative information related to the significant observable and unobservable inputs used in the calculation of the Company’s Level 3 financial assets and liabilities at December 31, 2021 and December 31, 2020:
DescriptionAt December 31, 2021Valuation techniqueSignificant inputRange, point estimate or average
Equity securities$62 Discounted cash flowDiscount rate9.50%
Long-term gold price$1,500
Long-term copper price$3.00
Contingent consideration assets$171 Discounted cash flow
Discount rate (1)
4.48 - 5.88
%
Contingent consideration liabilities$5 Discounted cash flow
Discount rate (1)
2.48 - 3.35
%
____________________________
(1)The weighted average discount rates used to calculate the Company’s contingent consideration assets and liabilities are 5.63% and 2.83%, respectively. Various other inputs including, but not limited to, metal prices and production profiles were considered in determining the fair value of the individual contingent consideration assets.
DescriptionAt December 31, 2020Valuation techniqueSignificant inputRange, point estimate or average
Marketable and other equity securities$53 Discounted cash flowDiscount rate9.50%
Long-term gold price$1,500
Long-term copper price$3.00
Contingent consideration assets$119 Discounted cash flow
Discount rate (1)
4.53 - 9.19
%
____________________________
(1)The weighted average discount rate used to calculate the Company’s contingent consideration assets is 7.63%. Various other inputs including, but not limited to, metal prices, production profiles and new mineralization discoveries were considered in determining the fair value of the individual contingent consideration assets.
The following tables set forth a summary of changes in the fair value of the Company’s recurring Level 3 financial assets and liabilities:
Continental convertible debt(1)
Contingent consideration assets(2)
Total assetsHolt royalty obligationContingent consideration liabilitiesTotal liabilities
Fair value at December 31, 2019$39 $38 $77 $257 $— $257 
Additions and settlements— 39 39 (8)— (8)
Revaluation1 42 43 (249)— (249)
Sales(40)$— (40)$— $— $— 
Fair value at December 31, 2020$— $119 $119 $— $— $— 
Additions and settlements— — — — — — 
Revaluation— 52 52 — 5 5 
Fair value at December 31, 2021$— $171 $171 $— $5 $5 
____________________________
(1)In March 2020, the Company completed the sale of its interest in Continental, which included an unrestricted convertible debenture. The gain recognized on the revaluation completed prior to the sale is included in Other comprehensive income (loss). The gain recognized on sale is included in Gain on asset and investment sales, net.
(2)In 2020, additions of $39 relate to contingent consideration assets received from the sale of Red Lake. See Note 10 for additional information. The gain (loss) recognized on revaluation in 2021 of $3 and $49 are included in Other income (loss), net and Net income (loss) from discontinued operations, respectively.
v3.22.0.1
INVESTMENTS
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS
At December 31,
20212020
Current: 
Marketable equity securities$82 $290 
Non-current: 
Marketable and other equity securities$307 $378 
Equity method investments: 
Pueblo Viejo Mine (40.0%)
$1,320 $1,202 
NuevaUnión Project (50.0%)
950 949 
Norte Abierto Project (50.0%)
505 493 
Maverix Metals Inc. (28.6%)
160 160 
TMAC Resources, Inc. (—%)
— 13 
Other1 2 
2,936 2,819 
$3,243 $3,197 
Non-current restricted investments: (1)
Marketable debt securities$35 $38 
Other assets16 — 
$51 $38 
____________________________
(1)Non-current restricted investments are legally pledged for purposes of settling reclamation and remediation obligations and are included in Other non-current assets. For further information regarding these amounts, see Note 6.
Equity Method Investments
Income (loss) from the Company's equity method investments is recognized in Equity income (loss) of affiliates, which for the years ended 2021, 2020 and 2019 primarily consists of income of $166, $193 and $124, respectively, from the Pueblo Viejo mine.
See below for further information on the Company's equity method investments.
Pueblo Viejo
The Pueblo Viejo mine is located in the Dominican Republic and commenced operations in September 2014. Barrick operates and holds the remaining interest in the mine. At acquisition, the carrying value of Newmont’s equity investment in Pueblo Viejo was lower than the underlying net assets of its investment resulting in a basis difference, which is being amortized into Equity income (loss) of affiliates over the remaining estimated useful life of the mine. As of December 31, 2021 the net basis difference was $277.
In June 2009, Goldcorp entered into a $400 shareholder loan agreement with Pueblo Viejo with a term of fifteen years. In April 2012, additional funding of $300 was issued to Pueblo Viejo with a term of twelve years. Both loans bear interest at 95% of LIBOR plus 2.95% which is compounded semi-annually in arrears on February 28 and August 31 of each year. The loans have no set repayment terms.
In November 2020, the Company and Barrick entered into an agreement with Pueblo Viejo to provide additional funding of up to $1,300 ($520 attributable to Newmont's 40% ownership interest) through a loan facility for the expansion of Pueblo Viejo's operations (“Loan Facility”). Under the terms of the agreement, the Company and Barrick will distribute funds based on their respective proportionate ownership interest in Pueblo Viejo. The Loan Facility bears interest at 95% of LIBOR plus 4.00% which is compounded semi-annually in arrears on February 28 and August 31 of each year. The Loan Facility will be provided in two tranches of $800 and $500, respectively. Unused proceeds under the first tranche will be available for use under the second tranche. The tranches mature February 28, 2032 and February 28, 2035, respectively.

As of December 31, 2021 and December 31, 2020, the Company had outstanding shareholder loans to Pueblo Viejo of $260 and $244, with accrued interest of $3 and $4, respectively, related to the Loan Facility and the existing shareholder loan facilities acquired in the Newmont Goldcorp transaction. All loans receivable and accrued interest are included in the Pueblo Viejo equity method investment balance.

In September 2019, the Company and Barrick entered into a $70 revolving loan facility (“Revolving Facility”) to provide short-term financing to Pueblo Viejo. The Company will fund 40% of the borrowings based on its ownership interest in Pueblo Viejo. Under the terms of the Revolving Facility, borrowings earn interest at LIBOR plus 2.09% and expires on December 31, 2022. There were no borrowings outstanding under the Revolving Facility as of December 31, 2021 and December 31, 2020.
The Company purchases its portion (40.0%) of gold and silver produced from Pueblo Viejo at market price and resells those ounces to third parties. Total payments made to Pueblo Viejo for gold and silver purchased were $616 and $660 for the years ended December 31, 2021 and December 31, 2020, respectively. These purchases, net of subsequent sales, were included in Other income (loss), net and the net amount is immaterial. There were no amounts due to or due from Pueblo Viejo for gold and silver purchases as of December 31, 2021 or December 31, 2020.
NuevaUnión
The NuevaUnión project is located in Chile and is currently under development. The project is jointly managed by Newmont and Teck Resources, who holds the remaining interest. At acquisition, the carrying value of Newmont’s equity investment in NuevaUnión was lower than the underlying net assets of its investment resulting in a basis difference. This basis difference will be amortized into Equity income (loss) of affiliates over the remaining estimated useful life of the mine beginning when commercial production is declared. As of December 31, 2021 the net basis difference was $67.
Norte Abierto
The Norte Abierto project is located in Chile and is currently under development. The project is jointly managed by Newmont and Barrick, who holds the remaining interest. As part of the Newmont Goldcorp transaction, Newmont assumed deferred payments to Barrick to be satisfied through funding a portion of Barrick’s share of project expenditures at the Norte Abierto project. At December 31, 2021, there were $22 and $102 of deferred payments included in Other current liabilities and Other non-current liabilities on the Consolidated Balance Sheet, respectively. At December 31, 2020, there were $33 and $123 of deferred payments included in Other current liabilities and Other non-current liabilities on the Consolidated Balance Sheet, respectively.
At December 31, 2021 the carrying value of Newmont’s equity investment in Norte Abierto was lower than the underlying net assets of its investment by $209. This basis difference will be amortized into Equity income (loss) of affiliates over the remaining estimated useful life of the mine beginning when commercial production is declared.
Maverix Metals, Inc.
In October 2020, Newmont acquired an additional 12 million common share units in Maverix as part consideration from the sale of certain royalty interests resulting in an increase in ownership in Maverix. As of December 31, 2021, Newmont holds 28.6% equity ownership in Maverix. Refer to Note 10 for additional information.
TMAC Resources, Inc.
During the first quarter of 2021, TMAC sold all of the company’s outstanding shares of TMAC to Agnico Eagle Mines Ltd ("Agnico") for cash consideration of $55. The carrying value of our investment in TMAC was $13 resulting in a gain of $42 recognized in Gain on asset and investment sales, net.
v3.22.0.1
INVENTORIES
 12 Months Ended
Dec. 31, 2021
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
At December 31,
20212020
Materials and supplies$669 $673 
In-process132 148 
Concentrate (1)
58 39 
Precious metals (2)
71 103 
$930 $963 
____________________________
(1)Concentrate includes gold, copper, silver, lead and zinc.
(2)Precious metals includes gold and silver doré.
STOCKPILES AND ORE ON LEACH PADS
At December 31,
20212020
Current:
Stockpiles$491 $514 
Ore on leach pads366 313 
$857 $827 
Non-current:
Stockpiles$1,442 $1,446 
Ore on leach pads333 259 
$1,775 $1,705 
Total:
Stockpiles$1,933 $1,960 
Ore on leach pads699 572 
$2,632 $2,532 
In 2021, the Company recorded write-downs of $45 and $19, classified as components of Costs applicable to sales and Depreciation and amortization, respectively, to reduce the carrying value of stockpiles and ore on leach pads to net realizable value. Of the write-downs in 2021, $25 was related to Yanacocha, $21 to CC&V and $18 to NGM.
In 2020, the Company recorded write-downs of $42 and $22, classified as components of Costs applicable to sales and Depreciation and amortization, respectively, to reduce the carrying value of stockpiles and ore on leach pads to net realizable value. Of the write-downs in 2020, $24 was related to Yanacocha and $40 to NGM.
In 2019, the Company recorded write-downs of $112 and $45, classified as components of Costs applicable to sales and Depreciation and amortization, respectively, to reduce the carrying value of stockpiles and ore on leach pads to net realizable value. Of the write-downs in 2019, $15 is related to CC&V, $21 to Yanacocha, $22 to Boddington, $34 to Akyem, $18 to NGM, $44 to Carlin and $3 to Twin Creeks. In July 2019, Carlin and Twin Creeks were contributed to NGM. See Note 1 for additional information.
v3.22.0.1
STOCKPILES AND ORE ON LEACH PADS
 12 Months Ended
Dec. 31, 2021
STOCKPILES AND ORE ON LEACH PADS  
STOCKPILES AND ORE ON LEACH PADS INVENTORIES
At December 31,
20212020
Materials and supplies$669 $673 
In-process132 148 
Concentrate (1)
58 39 
Precious metals (2)
71 103 
$930 $963 
____________________________
(1)Concentrate includes gold, copper, silver, lead and zinc.
(2)Precious metals includes gold and silver doré.
STOCKPILES AND ORE ON LEACH PADS
At December 31,
20212020
Current:
Stockpiles$491 $514 
Ore on leach pads366 313 
$857 $827 
Non-current:
Stockpiles$1,442 $1,446 
Ore on leach pads333 259 
$1,775 $1,705 
Total:
Stockpiles$1,933 $1,960 
Ore on leach pads699 572 
$2,632 $2,532 
In 2021, the Company recorded write-downs of $45 and $19, classified as components of Costs applicable to sales and Depreciation and amortization, respectively, to reduce the carrying value of stockpiles and ore on leach pads to net realizable value. Of the write-downs in 2021, $25 was related to Yanacocha, $21 to CC&V and $18 to NGM.
In 2020, the Company recorded write-downs of $42 and $22, classified as components of Costs applicable to sales and Depreciation and amortization, respectively, to reduce the carrying value of stockpiles and ore on leach pads to net realizable value. Of the write-downs in 2020, $24 was related to Yanacocha and $40 to NGM.
In 2019, the Company recorded write-downs of $112 and $45, classified as components of Costs applicable to sales and Depreciation and amortization, respectively, to reduce the carrying value of stockpiles and ore on leach pads to net realizable value. Of the write-downs in 2019, $15 is related to CC&V, $21 to Yanacocha, $22 to Boddington, $34 to Akyem, $18 to NGM, $44 to Carlin and $3 to Twin Creeks. In July 2019, Carlin and Twin Creeks were contributed to NGM. See Note 1 for additional information.
v3.22.0.1
PROPERTY, PLANT AND MINE DEVELOPMENT
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND MINE DEVELOPMENT PROPERTY, PLANT AND MINE DEVELOPMENT
Depreciable
Life
(in years)		At December 31, 2021At December 31, 2020
CostAccumulated
Depreciation		Net Book
Value		CostAccumulated
Depreciation		Net Book
Value
Land $260 $— $260 $259 $— $259 
Facilities and equipment (1)
1-23
18,829 (10,487)8,342 18,346 (9,628)8,718 
Mine development 
1-23
5,419 (3,133)2,286 4,429 (2,608)1,821 
Mineral interests 
1-23
13,296 (2,369)10,927 12,673 (1,664)11,009 
Construction-in-progress 2,309 — 2,309 2,474 — 2,474 
$40,113 $(15,989)$24,124 $38,181 $(13,900)$24,281 
____________________________
(1)At December 31, 2021 and 2020, Facilities and equipment include finance lease right of use assets of $619 and $666, respectively.
Depreciable
Life
(in years)		At December 31, 2021At December 31, 2020
Mineral InterestsCostAccumulated
Depreciation		Net Book
Value		CostAccumulated
Depreciation		Net Book
Value
Production stage 
1-23
$8,712 $(2,369)$6,343 $8,324 $(1,664)$6,660 
Development stage 
(1)
1,000 — 1,000 1,106 — 1,106 
Exploration stage 
(1)
3,584 — 3,584 3,243 — 3,243 
$13,296 $(2,369)$10,927 $12,673 $(1,664)$11,009 
____________________________
(1)These amounts are currently non-depreciable as these mineral interests have not reached production stage.
Construction-in-progress at December 31, 2021 of $2,309 included $231 at North America primarily related to construction at Peñasquito and Porcupine, $964 at South America primarily related to engineering and construction at Conga and infrastructure at Yanacocha, $488 at Australia primarily related to Tanami Expansion 2 project and other infrastructure at Boddington, $447 at Africa primarily related to the Ahafo North project and other infrastructure at Ahafo and Akyem and $138 at Nevada primarily related to infrastructure at NGM. There have been no new costs capitalized during 2021 or 2020 for the Conga project in South America, reported in Other South America. In the third quarter of 2021, the Company reclassified the Conga mill assets, previously included within construction-in-progress with a carrying value of $593, as held for sale, included in Other current assets on our Consolidated Balance Sheet as of December 31, 2021. Refer to Note 8 for further information.
Construction-in-progress at December 31, 2020 of $2,474 included $212 at North America primarily related to construction at Peñasquito and CC&V, $1,476 at South America primarily related to engineering and construction at Conga and infrastructure at Yanacocha, Argentina and Suriname, $365 at Australia primarily related to Tanami Expansion 2 project and other infrastructure at Boddington, $275 at Africa primarily related to the Ahafo North project and other infrastructure at Ahafo and Akyem and $123 at Nevada primarily related to infrastructure at NGM.
v3.22.0.1
GOODWILL
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL GOODWILL
Changes in the carrying amount of goodwill by reportable segment were as follows:
North AmericaSouth AmericaAustraliaNevadaTotal
Balance at December 31, 2019$1,964 $442 $— $268 $2,674 
Additions due to Newmont Goldcorp transaction (1)
80 17 — — 97 
Balance at December 31, 2020$2,044 $459 $— $268 $2,771 
Balance at December 31, 2021$2,044 $459 $— $268 $2,771 
____________________________
(1)For further information regarding the Newmont Goldcorp transaction, refer to Note 3.
The Company completed its annual goodwill impairment testing at December 31, 2021 and concluded that fair value exceeded carrying value for all reporting units. The estimated cash flows used to assess the fair value of each reporting unit were derived from the Company’s current business plans, which are developed using short-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to short and long-term metal price assumptions, other assumptions include estimates of commodity-based and other input costs; capital investment; proven and probable mineral reserve and measured, indicated, and inferred resource estimates, including the timing and cost to develop and produce the reserves; value beyond proven and probable mineral reserve and measured, indicated and inferred resource estimates; estimated future closure costs; and the use of appropriate discount rates.
Examples of events or circumstances that could reasonably be expected to negatively affect the underlying key assumptions and ultimately impact the estimated fair value of our reporting units include, but are not limited to, such items as: (i) a decrease in forecasted production levels if we are unable to realize the mineable reserves, resources and exploration potential at our mining properties and extend the life of mine (ii) increased production or capital costs (iii) adverse changes in macroeconomic conditions including the market price of metals and changes in the equity and debt markets or country specific factors which could result in higher discount rates, (iv) significant unfavorable changes in tax rates including increased corporate income or mining tax rates, and (v) negative changes in regulation, legislation, and political environments which could impact our ability to operate in the future. While historical performance and current expectations have resulted in fair values of our reporting units equal to or in excess of carrying values, if our assumptions are not realized, it is possible that an impairment charge may need to be recorded in the future.
v3.22.0.1
DEBT
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
DEBT DEBT
At December 31, 2021At December 31, 2020
CurrentNon-Current
Fair Value (1)
CurrentNon-Current
Fair Value (1)
$550 3.625% Senior Notes due June 2021
$— $— $— $551 $— $556 
$1,500 3.50% Senior Notes due March 2022
— — — — 491 512 
$1,000 3.70% Senior Notes due March 2023
87 — 90 — 418 441 
$700 2.80% Senior Notes due October 2029
— 689 726 — 689 770 
$1,000 2.25% Senior Notes due October 2030
— 985 994 — 984 1,060 
$1,000 2.60% Senior Notes due July 2032
— 990 1,003 — — — 
$600 5.875% Senior Notes due April 2035
— 578 790 — 576 886 
$1,100 6.25% Senior Notes due October 2039
— 860 1,237 — 859 1,344 
$1,000 4.875% Senior Notes due March 2042
— 986 1,270 — 985 1,375 
$450 5.45% Senior Notes due June 2044
— 482 602 — 482 642 
Debt issuance costs on Corporate Revolving Credit Facilities— (5)— — (4)— 
$87 $5,565 $6,712 $551 $5,480 $7,586 
____________________________
(1)The estimated fair value of these Senior Notes was determined by an independent third party pricing source and may or may not reflect the actual trading value of this debt.
All outstanding Senior Notes are unsecured and rank equally with one another.
Scheduled minimum debt repayments are as follows:
Year Ending December 31,
2022$— 
202387 
2024— 
2025— 
2026— 
Thereafter5,624 
$5,711 
Corporate Revolving Credit Facilities and Letters of Credit Facilities
In March 2021, the Company entered into an agreement to amend (the “Amendment”) certain terms of the existing $3,000 revolving credit agreement dated April 4, 2019 (the “Existing Credit Agreement”). The Existing Credit Agreement was entered into with a syndicate of financial institutions and provided for borrowings in U.S. dollars and contained a letter of credit sub-facility. Per the Amendment, the expiration date of the credit facility was extended from April 4, 2024 to March 30, 2026 and the interest rate on the credit facility was amended to include a margin adjustment based on the Company’s environment, social and governance (“ESG”) scores. The maximum adjustment resulting from the ESG scores is plus or minus 0.05%. Facility fees vary based on the credit ratings of the Company’s senior, uncollateralized, non-current debt. Debt covenants under the amendment are substantially the same as the Existing Credit Agreement. At December 31, 2021, the Company had no borrowings outstanding under the facility. There was $— and $72 outstanding on the letters of credit sub-facility at December 31, 2021 and 2020, respectively.
The Company had a $175 committed letter of credit facility that terminated in September 2020 and was replaced with a new $175 uncommitted letter of credit facility. The uncommitted letter of credit facility was entered into with BNP Paribas, New York Branch, to support reclamation obligations and is extended on a month-to-month basis. The Company had letters of credit outstanding in the amount of $100 at December 31, 2021 and 2020. None of these letters of credit have been drawn on for reclamation obligations as of December 31, 2021.
Prior to the closing of the Newmont Goldcorp transaction, Goldcorp held a series of letters of credit with various institutions, several of which represented guarantees for reclamation obligations. Newmont continues to hold these letters of credit. At December 31, 2021, the Company had letters of credit outstanding in the amount of $354 of which $323 represented guarantees for reclamation obligations. At December 31, 2020, the Company had letters of credit outstanding in the amount of $326 of which $286 represented guarantees for reclamation obligations. None of these letters of credit have been drawn on for reclamation obligations as of December 31, 2021.
2021, 2023 and 2044 Senior Notes
Subsequent to closing of the Newmont Goldcorp transaction, the Company completed a like-for-like exchange for the majority of the outstanding notes issued by Goldcorp (“Existing Goldcorp notes”), with an aggregate principal amount of $2,000, for new notes issued by Newmont (the “New Newmont notes”) and nominal cash consideration. The New Newmont notes, issued on April 22, 2019, and the Existing Goldcorp notes that were not tendered for exchange, consisted of $472 and $78 of 3.625% notes due June 9, 2021, $810 and $190 of 3.70% notes due March 15, 2023 and $444 and $6 of 5.45% notes due June 9, 2044, respectively. Pursuant to registration rights issued with the New Newmont notes, the Company filed Form S-4 on June 28, 2019, which was declared effective on July 9, 2019. The exchange for the registered notes was completed on August 9, 2019. In 2020, the Company purchased approximately $487 and $99 of its 2023 Newmont Senior Notes and 2023 Goldcorp Senior Notes, respectively, through debt tender offers. In April 2021, the Company fully redeemed all of the outstanding 2021 Senior Notes. The redemption price of $557 equaled the principal amount of the outstanding 2021 Senior Notes of $550 plus accrued and unpaid interest in accordance with the terms of the 2021 Notes. Interest on the 2021 Notes ceased to accrue on the date of redemption. In December 2021, the Company purchased approximately $89 and $4 of its 2023 Newmont Senior Notes and 2023 Goldcorp Senior Notes, respectively, through debt tender offers. The tender offers were completed with the proceeds from the issuance of the 2032 Senior Notes. See below for additional information on the 2032 Senior Notes. In December 2021, subsequent to the debt tender offer, the Company extinguished the outstanding 2023 Newmont Senior Notes by way of defeasance with funds in trust, which were subsequently used by the trust for full redemption in January 2022. The redemption price of $246 equaled the principal amount of the outstanding 2023 Newmont Senior Notes of $234 plus accrued and unpaid interest and future coupon payments in accordance with the terms of the 2023 Newmont Senior Notes.
In January 2022, the Company fully redeemed all of the outstanding 2023 Goldcorp Senior Notes. The redemption price of $90 equaled the principal amount of the outstanding 2023 Goldcorp Senior Notes of $87 plus accrued and unpaid interest and future coupon payments in accordance with the terms of the 2023 Goldcorp Senior Notes.
2022 and 2042 Senior Notes
In March 2012, the Company completed a two part public offering of $1,500 and $1,000 uncollateralized Senior Notes maturing on March 15, 2022 and March 15, 2042, respectively. Net proceeds from the 2022 and 2042 Senior Notes were $1,479 and $983, respectively. The 2022 Senior Notes paid interest semi-annually at a rate of 3.50% per annum and the 2042 Senior Notes pay semi-annual interest of 4.875% per annum. In November 2016, the Company purchased approximately $508 of its 2022 Senior Notes through a debt tender offer. In 2020, the Company purchased approximately $500 of its 2022 Senior Notes through debt tender offers. In December 2021, the Company fully redeemed all of the outstanding 2022 Senior Notes. The redemption price of $496 equaled the principal amount of the outstanding 2022 Senior Notes of $492 plus accrued and unpaid interest in accordance with the terms of the 2022 Notes.
2029 Senior Notes
In September 2019, the Company completed a public offering of $700 unsecured Senior Notes due October 1, 2029 (“2029 Senior Notes”). Net proceeds from the 2029 Senior Notes were $690. The 2029 Senior Notes pay interest semi-annually at a rate of 2.80% per annum.
2030 Senior Notes
In March 2020, the Company completed a public offering of $1,000 unsecured Senior Notes due October 1, 2030 (“2030 Senior Notes”). Net proceeds from the 2030 Senior Notes were $985. The 2030 Senior Notes pay interest semi-annually at a rate of 2.25% per annum. The proceeds from this issuance, supplemented with cash from the Company's balance sheet, were used to fund the debt tender offers of the 2023 Newmont Senior Notes and the 2023 Goldcorp Senior Notes in 2020.
2032 Senior Notes
In December 2021, the Company completed a public offering of $1,000 sustainability-linked, unsecured convertible Senior Notes due July 15, 2032 ("2032 Senior Notes") for net proceeds of approximately $992. Per the terms of the 2032 Senior Notes, the 2032 Senior Notes pay interest semi-annually at a rate of 2.60% per annum and are subject to an increase if the Company fails to reach stated targets by 2030. Beginning in 2031, the coupon of the 2032 Senior Notes is linked to the Company’s performance against the 2030 emissions reduction targets and the representation of women in senior leadership roles targets. The maximum adjustment resulting from the sustainability-linked objectives is 0.60%. The proceeds from this issuance were used to redeem the remaining balance of the 2023 Newmont Senior Notes and the 2023 Goldcorp Senior Notes in December 2021 and January 2022, respectively.
2035 Senior Notes
In March 2005, Newmont issued uncollateralized Senior Notes with a principal amount of $600 due April 1, 2035 bearing an annual interest rate of 5.875%.
2039 Senior Notes
In September 2009, the Company completed a public offering of $1,100 uncollateralized Senior Notes maturing on October 1, 2039. Net proceeds from the 2039 Senior Notes were $1,080 and pay semi-annual interest of 6.25% per annum. In March 2016, the Company purchased approximately $226 of its 2039 Senior Notes through a debt tender offer.
Debt Covenants
The Company’s senior notes and revolving credit facility contain various covenants and default provisions including payment defaults, limitation on liens, leases, sales and leaseback agreements and merger restrictions. Furthermore, the Company’s senior notes and corporate revolving credit facility contain covenants that include, limiting the sale of all or substantially all of the Company’s assets, certain change of control provisions and a negative pledge on certain assets.
The corporate revolving credit facility contains a financial ratio covenant requiring the Company to maintain a net debt (total debt net of cash and cash equivalents) to total capitalization ratio of less than or equal to 62.50% in addition to the covenants noted above.
At December 31, 2021 and 2020, the Company and its related entities were in compliance with all debt covenants and provisions related to potential defaults.
v3.22.0.1
LEASE AND OTHER FINANCING OBLIGATIONS
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
LEASE AND OTHER FINANCING OBLIGATIONS LEASE AND OTHER FINANCING OBLIGATIONS
The Company primarily has operating and finance leases for corporate and regional offices, processing facilities and mining equipment. These leases have a remaining lease term of less than 1 year to 37 years, some of which may include options to extend the lease for up to 15 years, and some of which may include options to terminate the lease within 1 year. Certain of our leases include payments that vary based on the Company’s level of usage and operations. These variable payments are not included within ROU assets and lease liabilities in the Consolidated Balance Sheets. Additionally, short-term leases, which have an initial term of 12 months or less, are not recorded in the Consolidated Balance Sheets.
Total lease cost includes the following components:
Year Ended December 31,
20212020
Operating lease cost$21 $21 
Finance lease cost
Amortization of ROU assets85 88 
Interest on lease liabilities36 37 
121 125 
Variable lease cost393 335 
Short-term lease cost36 24 
$571 $505 
Supplemental cash flow information related to leases includes the following:
Year Ended December 31,
20212020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows relating to operating leases$17 $18 
Operating cash flows relating to finance leases$36 $31 
Financing cash flows relating to finance leases$73 $66 
Non-cash lease obligations arising from obtaining ROU assets:
Operating leases$35 $76 
Finance leases$41 $16 
Information related to lease terms and discount rates is as follows:
Operating LeasesFinance Leases
Weighted average remaining lease term (years)910
Weighted average discount rate4.90 %5.45 %
Future minimum lease payments under non-cancellable leases as of December 31, 2021, were as follows:
Operating Leases(1)
Finance Leases(2)
2022$27 $100 
202322 91 
202420 83 
202512 82 
202611 76 
Thereafter59 403 
Total future minimum lease payments151 835 
Less: Imputed interest(23)(217)
Total$128 $618 
____________________________
(1)The current and non-current portion of operating lease liabilities are included in Other current liabilities and Other non-current liabilities, respectively, on the Consolidated Balance Sheets.
(2)Future minimum lease payments for finance leases exclude payments for built-to-suit leases with commencement dates in the future. The Company has recognized $32 in Leases and other financing obligations at December 31, 2021 related to built-to-suit.
As of December 31, 2021, the Company has additional leases that have not yet commenced. At commencement, the Company anticipates that these leases will result in additional ROU assets and lease liabilities of $40. The leases are anticipated to commence in 2022 with lease terms of 2 to 7 years.
v3.22.0.1
OTHER LIABILITIES
 12 Months Ended
Dec. 31, 2021
Other Liabilities Disclosure [Abstract]  
OTHER LIABILITIES OTHER LIABILITIES
At December 31,
20212020
Other current liabilities:
Reclamation and remediation liabilities$273 $214 
Accrued operating costs201 285 
Accrued capital expenditures155 144 
Payables to NGM (1)
114 94 
Other (2)
430 445 
$1,173 $1,182 
Other non-current liabilities:
Income and mining taxes (3)
$328 $382 
Other (4)
280 317 
$608 $699 
____________________________
(1)Payables to NGM at December 31, 2021 and December 31, 2020 consist of amounts due to (from) NGM representing Barrick's 61.5% proportionate share of the amount owed to NGM for gold and silver purchased by Newmont and CC&V toll milling provided by NGM. Newmont’s 38.5% share of such amounts is eliminated upon proportionate consolidation of its interest in NGM. The CC&V toll milling agreement with NGM expires on December 31, 2022. Receivables for Newmont's 38.5% proportionate share related to NGM's activities with Barrick are presented within Other current assets.
(2)Other, included in Other current liabilities, primarily includes royalties, the current portion of the silver streaming agreement liability, accrued interest, taxes other than income and mining, the current portion of the Norte Abierto deferred payments and the Conga assets contract liability.
(3)Income and mining taxes at December 31, 2021 and December 31, 2020 includes unrecognized tax benefits, including penalties and interest, of $319 and $367, respectively.
(4)Other, included in Other non-current liabilities, primarily includes the non-current portion of the Norte Abierto deferred payments, the Galore Creek deferred payments and social development and community obligations.
v3.22.0.1
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​
 12 Months Ended
Dec. 31, 2021
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​ RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized Gain (Loss) on Marketable Debt SecuritiesForeign Currency Translation AdjustmentsPension and Other Post-retirement Benefit AdjustmentsUnrealized Gain (Loss) on Cash flow Hedge InstrumentsTotal
Balance at December 31, 2019$5 $119 $(281)$(108)$(265)
Net current-period other comprehensive income (loss):
Gain (loss) in other comprehensive income (loss) before reclassifications
— (2)(51)(4)(57)
(Gain) loss reclassified from accumulated other comprehensive income (loss)
(5)— 95 16 106 
Other comprehensive income (loss)(5)(2)44 12 49 
Balance at December 31, 2020$— $117 $(237)$(96)$(216)
Net current-period other comprehensive income (loss):
Gain (loss) in other comprehensive income (loss) before reclassifications
2 2 45 1 50 
(Gain) loss reclassified from accumulated other comprehensive income (loss)
— — 26 7 33 
Other comprehensive income (loss)2 2 71 8 83 
Balance at December 31, 2021$2 $119 $(166)$(88)$(133)
Details about Accumulated Other Comprehensive Income (Loss) ComponentsAmount Reclassified from Accumulated Other Comprehensive Income (Loss)Affected Line Item in the Consolidated Statements of Operations
Year Ended December 31,
202120202019
Marketable debt securities adjustments:
Sale of marketable securities$— $(5)$— Gain on asset and investment sales, net
Total before tax— (5)— 
Tax— — — 
Net of tax$— $(5)$— 
Pension and other post-retirement benefit adjustments:
Amortization$27 $28 $14 Other income (loss), net
Curtailment— — (23)Other income (loss), net
Settlement4 92 — Other income (loss), net
Total before tax31 120 (9)
Tax(5)(25)— 
Net of tax$26 $95 $(9)
Hedge instruments adjustments:
Interest rate contracts$8 $17 $11 
Interest expense, net (1)
Operating cash flow hedges1 2 3 Costs applicable to sales
Total before tax9 19 14 
Tax(2)(3)(2)
Net of tax$7 $16 $12 
Total reclassifications for the period, net of tax$33 $106 $3 
____________________________
(1)Interest rate contracts relate to swaps entered into, and subsequently settled, associated with the issuance of the 2022 Senior Notes, 2035 Senior Notes, 2039 Senior Notes, and 2042 Senior Notes. The related gains and losses are reclassified from Accumulated Other Comprehensive Income (Loss) and amortized to Interest expense, net over the term of the respective hedged notes. During the years ended December 31, 2021 and December 31, 2020, $1 and $(8), respectively, was reclassified to Other income (loss), net as a result of the redemption and tender offers of the 2022 Senior Notes. See Note 21 for additional information.
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NET CHANGE IN OPERATING ASSETS AND LIABILITIES
 12 Months Ended
Dec. 31, 2021
Increase (Decrease) in Operating Capital [Abstract]  
NET CHANGE IN OPERATING ASSETS AND LIABILITIES NET CHANGE IN OPERATING ASSETS AND LIABILITIES
Net cash provided by (used in) operating activities of continuing operations attributable to the net change in operating assets and liabilities is composed of the following:
Year Ended December 31,
202120202019
Decrease (increase) in operating assets:
Trade and other receivables $142 $29 $(193)
Inventories, stockpiles and ore on leach pads (136)(139)(132)
Other assets 36 34 29 
Increase (decrease) in operating liabilities:
Accounts payable(11)(50)144 
Reclamation and remediation liabilities (161)(101)(102)
Accrued tax liabilities(317)378 47 
Other accrued liabilities(94)144 (102)
$(541)$295 $(309)
v3.22.0.1
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
General
Estimated losses from contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable that a liability could be incurred and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the contingency and estimated range of loss, if determinable, is made in the financial statements when it is at least reasonably possible that a material loss could be incurred.
Operating Segments
The Company’s operating and reportable segments are identified in Note 4. Except as noted in this paragraph, all of the Company’s commitments and contingencies specifically described herein are included in Corporate and Other. The Yanacocha matters relate to the South America reportable segment. The Newmont Ghana Gold and Newmont Golden Ridge matters relate to the Africa reportable segment. The Mexico tax matter relates to the North America reportable segment.
Environmental Matters
Refer to Note 6 for further information regarding reclamation and remediation. Details about certain significant matters are discussed below.
Minera Yanacocha S.R.L.
In early 2015 and again in June 2017, the Peruvian government agency responsible for certain environmental regulations, the Ministry of the Environment (“MINAM”), issued proposed modifications to water quality criteria for designated beneficial uses which apply to mining companies, including Yanacocha. These criteria modified the in-stream water quality criteria pursuant to which Yanacocha has been designing water treatment processes and infrastructure. In December 2015, MINAM issued the final regulation that modified the water quality standards. These Peruvian regulations allow time to formulate a compliance plan and make any necessary changes to achieve compliance.
In February 2017, Yanacocha submitted a modification to its previously approved compliance achievement plan to the Mining Ministry (“MINEM”). The Company did not receive a response or comments to this submission until April 2021 and is now in the process of updating its compliance achievement plan to address these comments. During this interim period, Yanacocha separately submitted an Environmental Impact Assessment (EIA) modification considering the ongoing operations and the projects to be developed and obtained authorization from MINEM for such projects. This authorization included a deadline for compliance with the modified water quality criteria by January 2024. Consequently, part of the Company response to MINEM will include a request for an extension of time for coming into full compliance with the new regulations. In the event that MINEM does not grant Yanacocha an extension of the previously authorized timeline for, and agree to, the updated compliance achievement plan, fines and penalties relating to noncompliance may result beyond January 2024.
The Company currently operates five water treatment plants at Yanacocha that have been and currently meet all currently applicable water discharge requirements. The Company is conducting detailed studies to better estimate water management and other closure activities that will ensure water quality and quantity discharge requirements, including the modifications promulgated by MINAM, as referenced above, will be met. This also includes performing a comprehensive update to the Yanacocha reclamation plan to
address changes in closure activities and estimated closure costs while preserving optionality for potential future projects at Yanacocha. These ongoing studies, which will extend beyond the current year, were progressed in the fourth quarter of 2021 as the study team continued to evaluate and revise assumptions and estimated costs of changes to the reclamation plan. While certain estimated costs remain subject to revision, in conjunction with the Company’s annual 2021 update process for all asset retirement obligations, the Company recorded an increase of $1,597 to the Yanacocha reclamation liability based on the progress of the closure studies with a corresponding non-cash charge of $1,554 recorded to reclamation expense related to portions of site operations no longer in production with no expected substantive future economic value and $43 recorded as an increase to the asset retirement cost for producing areas of the operation.
The annual 2021 update related primarily to the expected construction of two water treatment plants, a related increase in the annual operating costs over the extended closure period, and initial consideration of known risks (including the associated risk that these water treatment estimates could change in the future as more work is completed). However, these and other additional risks and contingencies that are the subject of ongoing studies could result in future material increases to the reclamation obligation at Yanacocha, including, but not limited to, a comprehensive review of our tailings storage facility management, review of Yanacocha’s water balance and storm water management system, and review of post-closure management costs. The ongoing studies, which are expected to be progressed in 2022, are intended to evaluate and further understand these risks and determine what, if any, additional modification may be required to the reclamation plan, therefore, the Company is currently unable to reasonably estimate the impacts these risks, if realized, may have on the reclamation obligation as of December 31, 2021.
In February 2022, the Company completed the acquisition of Buenaventura’s 43.65% noncontrolling interest in Yanacocha (the “Yanacocha Transaction”). Upon close of the Yanacocha Transaction, the Company’s ownership interest in Yanacocha increased from 51.35% to 95%. Refer to Note 1 for further information regarding the Yanacocha Transaction.
Cripple Creek & Victor Gold Mining Company LLC - 100% Newmont Owned
In December 2021, Cripple Creek & Victor Gold Mining Company LLC (“CC&V”, a wholly-owned subsidiary of the Company) entered into a Settlement Agreement (“Settlement Agreement”) with the Water Quality Control Division of the Colorado Department of Public Health and Environment (the “Division”) with a mutual objective of resolving issues associated with the new discharge permits issued by the Division in January 2021 for the historic Carlton Tunnel. The Carlton Tunnel was a historic tunnel completed in 1941 with the purpose of draining the southern portion of the mining district, subsequently consolidated by CC&V. CC&V has held discharge permits for the Carlton Tunnel since 1983, but the January 2021 new permits contained new water quality limits. The Settlement Agreement, once implemented through permit modification applications, would involve installation of interim passive water treatment and ongoing monitoring over the next three years, and then more long-term water treatment installed with target compliance by November 2027. The Company is currently considering various interim passive water treatment options, with related studies expected to be progressed in 2022, and based on an evaluation of those options, a remediation liability of $10 was recorded as of December 31, 2021. If one of these passive water treatment options is determined not to be a viable long-term water treatment strategy, CC&V may be required to develop and implement alternative remediation plans for water discharged from the Carlton Tunnel. Depending on the remediation plans that may ultimately be agreed with the Division, a material adjustment to the remediation liability may be required.
Dawn Mining Company LLC (“Dawn”) - 58.19% Newmont Owned
Midnite mine site and Dawn mill site. Dawn previously leased an open pit uranium mine, currently inactive, on the Spokane Indian Reservation in the State of Washington. The mine site is subject to regulation by agencies of the U.S. Department of Interior (the Bureau of Indian Affairs and the Bureau of Land Management), as well as the U.S. Environmental Protection Agency (“EPA”).
As per the Consent Decree approved by the U.S. District Court for the Eastern District of Washington on January 17, 2012, the following actions were required of Newmont, Dawn, the Department of the Interior and the EPA: (i) Newmont and Dawn would design, construct and implement the cleanup plan selected by the EPA in 2006 for the Midnite mine site; (ii) Newmont and Dawn would reimburse the EPA for its past costs associated with overseeing the work; (iii) the Department of the Interior would contribute a lump sum amount toward past EPA costs and future costs related to the cleanup of the Midnite mine site; (iv) Newmont and Dawn would be responsible for all future EPA oversight costs and Midnite mine site cleanup costs; and (v) Newmont would post a surety bond for work at the site.
During 2012, the Department of Interior contributed its share of past EPA costs and future costs related to the cleanup of the Midnite mine site in a lump sum payment of $42, which Newmont classified as restricted assets with interest on the Consolidated Balance Sheets for all periods presented. In 2016, Newmont completed the remedial design process (with the exception of the new water treatment plant (“WTP”) design which was awaiting the approval of the new National Pollutant Discharge Elimination System (“NPDES”) permit). Subsequently, the new NPDES permit was received in 2017 and the WTP design commenced in 2018. The EPA completed their assessment and approval of the WTP design in 2021 and Newmont is in the process of coordinating work with selected contractors for the construction of a new water treatment plant.
The Dawn mill site is regulated by the Washington Department of Health and is in the process of being closed. Remediation at the Dawn mill site began in 2013. The Tailing Disposal Area 1-4 reclamation earthworks component was completed during 2017 with the embankment erosion protection completed in the second quarter of 2018. The remaining closure activity will consist primarily of addressing groundwater issues and evaporating the remaining balance of process water on site.
The remediation liability for the Midnite mine site and Dawn mill site is approximately $172 at December 31, 2021.
Other Legal Matters
Minera Yanacocha S.R.L.
Administrative Actions. The Peruvian government agency responsible for environmental evaluation and inspection, Organismo Evaluacion y Fiscalizacion Ambiental (“OEFA”), conducts periodic reviews of the Yanacocha site. From 2011 to the fourth quarter of 2021, OEFA issued notices of alleged violations of OEFA standards to Yanacocha and Conga relating to past inspections. The water authority that is in charge of supervising the proper water administration has also issued notices of alleged regulatory violations in previous years. The experience with OEFA and the water authority is that in the case of a finding of violation, remedial action is often the outcome rather than a significant fine. There are no current alleged OEFA violations and the water authority alleged violations range from zero to 10 units, with each unit having a potential fine equivalent to approximately $.001110 based on current exchange rates, with a total potential fine amount for outstanding matters of $— to $0.01. Yanacocha is responding to all notices of alleged violations, but cannot reasonably predict the outcome of the agency allegations.
Conga Project Constitutional Claim. On October 18, 2012, Marco Antonio Arana Zegarra filed a constitutional claim against the Ministry of Energy and Mines and Yanacocha requesting the Court to order the suspension of the Conga project as well as to declare not applicable the October 27, 2010, directorial resolution approving the Conga project Environmental Impact Assessment (“EIA”). On October 23, 2012, a Cajamarca judge dismissed the claims based on formal grounds finding that: (i) plaintiffs had not exhausted previous administrative proceedings; (ii) the directorial resolution approving the Conga EIA is valid, and was not challenged when issued in the administrative proceedings; (iii) there was inadequate evidence to conclude that the Conga project is a threat to the constitutional right of living in an adequate environment; and (iv) the directorial resolution approving the Conga project EIA does not guarantee that the Conga project will proceed, so there was no imminent threat to be addressed by the Court. The plaintiffs appealed the dismissal of the case. The Civil Court of the Superior Court of Cajamarca confirmed the above mentioned resolution and the plaintiff presented an appeal. On March 13, 2015, the Constitutional Court published its ruling stating that the case should be sent back to the first court with an order to formally admit the case and start the judicial process in order to review the claim and the proofs presented by the plaintiff. Yanacocha has answered the claim. Neither the Company nor Yanacocha can reasonably predict the outcome of this litigation.
Yanacocha Tax Dispute. In 2000, Yanacocha paid Buenaventura and Minas Conga S.R.L. a total of $29 to assume their respective contractual positions in mining concession agreements with Chaupiloma Dos de Cajamarca S.M.R.L. The contractual rights allowed Yanacocha the opportunity to conduct exploration on the concessions, but were not a purchase of the concessions. The tax authority alleged that the payments to Buenaventura and Minas Conga S.R.L. were acquisitions of mining concessions requiring the amortization of the amounts under the Peru Mining Law over the life of the mine. Yanacocha expensed the amounts at issue in the initial year since the payments were not for the acquisition of a concession but rather these expenses represented the payment of an intangible and therefore, were amortizable in a single year or proportionally for up to ten years according to Income Tax Law. In 2010, the tax court in Peru ruled in favor of Yanacocha and the tax authority appealed the issue to the judiciary. The first appellate court confirmed the ruling of the tax court in favor of Yanacocha. However, in November 2015, a Superior Court in Peru made an appellate decision overturning the two prior findings in favor of Yanacocha. Yanacocha appealed the Superior Court ruling to the Peru Supreme Court. In January 2019, the Peru Supreme Court issued notice that three judges supported the position of the tax authority and two judges supported the position of Yanacocha. Because four votes are required for a final decision, an additional judge was selected to issue a decision and the parties conducted oral arguments in April 2019. In February 2020, the additional judge ruled in favor of the tax authority, finalizing a decision of the Peru Supreme Court against Yanacocha. As a result of the decision, the company recognized the amount of $29 in 2020. However, Yanacocha filed two constitutional actions in 2020, and one legal claim in 2021, objecting to potential excessive interest and duplicity of criteria of up to $50, $73, and $68, respectively. In March 2021, in one of the constitutional actions, Yanacocha’s request for an injunction to suspend the collection of interest was denied. The matter was sent back to the tax authority, which issued a resolution with an update of the total amount. Yanacocha appealed the tax authority’s resolution and, in October 2021, the tax court denied the appeal. As a result, the administrative case went back to the tax authority for collection and the Company paid the amount claimed due in October 2021 of approximately $80 and recognized income tax expense of $55 for the year ended December 31, 2021. In January 2022, Yanacocha filed a fourth legal claim, objecting to the amount of up to $72. The Company continues to pursue the legal actions that remain pending, seeking to recover up to $73 of the total amount paid based on current exchange rates, but it is not possible to fully predict the outcome of such litigation.
In February 2022, the Company completed the acquisition of Buenaventura’s 43.65% noncontrolling interest in Yanacocha (the “Yanacocha Transaction”). Upon close of the Yanacocha Transaction, the Company’s ownership interest in Yanacocha increased from 51.35% to 95%. Refer to Note 1 for further information regarding the Yanacocha Transaction.
Newmont Corporation, as well as Newmont Canada Corporation, and Newmont Canada FN Holdings ULC – 100% Newmont Owned

Kirkland Lake Gold Inc. (“Kirkland”) owns certain mining and mineral rights in northeastern Ontario, Canada, referred to here as the Holt-McDermott property, on which it suspended operations in April 2020. A subsidiary of the Company has a retained royalty obligation (“Holt royalty obligation”) to Royal Gold, Inc. (“Royal Gold”) for production on the Holt-McDermott property. In August 2020,
the Company and Kirkland signed a Strategic Alliance Agreement (the “Kirkland Agreement”). As part of the Kirkland Agreement, the Company purchased an option (the “Holt option”) for $75 from Kirkland for the mining and mineral rights subject to the Holt royalty obligation. The Company has the right to exercise the Holt option and acquire ownership to the mineral interests subject to the Holt royalty obligation in the event Kirkland intends to resume operations and process material subject to the obligation. Kirkland has the right to assume the Company’s Holt royalty obligation at any time, in which case the Holt option would terminate.
On August 16, 2021, International Royalty Corporation (“IRC”), a wholly-owned subsidiary of Royal Gold, filed an action in the Supreme Court of Nova Scotia against Newmont Corporation, Newmont Canada Corporation, Newmont Canada FN Holdings ULC, and Kirkland. IRC alleges the Kirkland Agreement is oppressive to the interests of Royal Gold under the Nova Scotia Companies Act and the Canada Business Corporations Act, and that, by entering into the Kirkland Agreement, Newmont breached its contractual obligations to Royal Gold. IRC seeks declaratory relief, and $350 in alleged royalty payments that it claims Newmont expected to pay under the Holt royalty obligation, but for the Kirkland Agreement. The Company intends to vigorously defend this matter, but cannot reasonably predict the outcome.
NWG Investments Inc. v. Fronteer Gold Inc.
In April 2011, Newmont acquired Fronteer Gold Inc. (“Fronteer”).
Fronteer acquired NewWest Gold Corporation (“NewWest Gold”) in September 2007. At the time of that acquisition, NWG Investments Inc. (“NWG”) owned approximately 86% of NewWest Gold and an individual named Jacob Safra owned or controlled 100% of NWG. Prior to its acquisition of NewWest Gold, Fronteer entered into a June 2007 lock-up agreement with NWG providing that, among other things, NWG would support Fronteer’s acquisition of NewWest Gold. At that time, Fronteer owned approximately 47% of Aurora Energy Resources Inc. (“Aurora”), which, among other things, had a uranium exploration project in Labrador, Canada.
NWG contends that, during the negotiations leading up to the lock-up agreement, Fronteer represented to NWG, among other things, that Aurora would commence uranium mining in Labrador by 2013, that this was a firm date, that Aurora faced no current environmental issues in Labrador and that Aurora’s competitors faced delays in commencing uranium mining. NWG further contends that it entered into the lock-up agreement and agreed to support Fronteer’s acquisition of NewWest Gold in reliance upon these purported representations. On October 11, 2007, less than three weeks after the Fronteer-NewWest Gold transaction closed, a member of the Nunatsiavut Assembly introduced a motion calling for the adoption of a moratorium on uranium mining in Labrador. On April 8, 2008, the Nunatsiavut Assembly adopted a three-year moratorium on uranium mining in Labrador. NWG contends that Fronteer was aware during the negotiations of the NWG/Fronteer lock-up agreement that the Nunatsiavut Assembly planned on adopting this moratorium and that its adoption would preclude Aurora from commencing uranium mining by 2013, but Fronteer nonetheless fraudulently induced NWG to enter into the lock-up agreement.
On September 24, 2012, NWG served a summons and complaint on the Company, and then amended the complaint to add Newmont Canada Holdings ULC as a defendant. The complaint also named Fronteer Gold Inc. and Mark O’Dea as defendants. The complaint sought rescission of the merger between Fronteer and NewWest Gold and $750 in damages. In August 2013 the Supreme Court of New York, New York County issued an order granting the defendants’ motion to dismiss on forum non conveniens. Subsequently, NWG filed a notice of appeal of the decision and then a notice of dismissal of the appeal on March 24, 2014.
On February 26, 2014, NWG filed a lawsuit in Ontario Superior Court of Justice against Fronteer Gold Inc., Newmont Mining Corporation, Newmont Canada Holdings ULC, Newmont FH B.V. and Mark O’Dea. The Ontario complaint is based upon substantially the same allegations contained in the New York lawsuit with claims for fraudulent and negligent misrepresentation. NWG seeks disgorgement of profits since the close of the NWG deal on September 24, 2007 and damages in the amount of C$1,200. Newmont, along with other defendants, served the plaintiff with its statement of defense on October 17, 2014. Newmont intends to vigorously defend this matter, but cannot reasonably predict the outcome.
Newmont Ghana Gold Limited and Newmont Golden Ridge Limited - 100% Newmont Owned
On December 24, 2018, two individual plaintiffs, who are members of the Ghana Parliament (“Plaintiffs”), filed a writ to invoke the original jurisdiction of the Supreme Court of Ghana. On January 16, 2019, Plaintiffs filed the Statement of Plaintiff’s Case outlining the details of the Plaintiff’s case and subsequently served Newmont Ghana Gold Limited (“NGGL”) and Newmont Golden Ridge Limited (“NGRL”) along with the other named defendants, the Attorney General of Ghana, the Minerals Commission of Ghana and 33 other mining companies with interests in Ghana. The Plaintiffs allege that under article 268 of the 1992 Constitution of Ghana that the mining company defendants are not entitled to carry out any exploitation of minerals or other natural resources in Ghana, unless their respective transactions, contracts or concessions are ratified or exempted from ratification by the Parliament of Ghana. Newmont’s current mining leases are both ratified by Parliament; NGGL June 13, 2001 mining lease, ratified by Parliament on October 21, 2008, and NGRL January 19, 2010 mining lease; ratified by Parliament on December 3, 2015. The writ alleges that any mineral exploitation prior to Parliament ratification is unconstitutional. The Plaintiffs seek several remedies including: (i) a declaration as to the meaning of constitutional language at issue; (ii) an injunction precluding exploitation of minerals for any mining company without prior Parliament ratification; (iii) a declaration that all revenue as a result of violation of the Constitution shall be accounted for and recovered via cash equivalent; and (iv) an order that the Attorney General and Minerals Commission submit all un-ratified mining leases, undertakings or contracts to Parliament for ratification. Newmont intends to vigorously defend this matter, but cannot reasonably predict the outcome.
Goldcorp, Inc. - 100% Newmont Owned
Shareholder Action. On October 28, 2016 and February 14, 2017, separate proposed class actions were commenced in the Ontario Superior Court of Justice pursuant to the Class Proceedings Act (Ontario) against the Company and certain of its current and former officers. Both statement of claims alleged common law negligent misrepresentation in Goldcorp, Inc.’s public disclosure concerning the Peñasquito mine and also pleaded an intention to seek leave from the Court to proceed with an allegation of statutory misrepresentation pursuant to the secondary market civil liability provisions under the Securities Act (Ontario). By a consent order, the latter lawsuit proceeded, and the former action has been stayed. The active lawsuit purports to be brought on behalf of persons who acquired Goldcorp Inc.’s securities in the secondary market during an alleged class period from October 30, 2014 to August 23, 2016. An amended complaint was filed in the active lawsuit, which removed the individual defendants, and requested leave of the Court to pursue only the statutory cause of action. In July of 2021, plaintiff’s counsel filed a motion to discontinue the active lawsuit. The motion was granted by the Court in September 2021, discontinuing the active lawsuit, but the Company was not provided notice of the Court’s decision until the first quarter of 2022.
Mexico Tax Matter
Tax Reassessment from Mexican Tax Authority. During 2016, the Mexican Tax Authority issued reassessment notices to several of Goldcorp, Inc.’s Mexican subsidiaries. Topics under dispute generally involve transfer pricing, deductibility of mine stripping costs, and gain recognized on certain asset sales. The Company has made significant progress in reaching resolution with the Mexican Tax Authority on these matters. In the second quarter of 2019, a number of issues were settled, resulting in a $96 payment, which was fully accrued in the financial statements. In the first quarter of 2020, further settlement was reached for an immaterial amount, with dialogue continuing in an effort to resolve the outstanding reassessment. Additionally, the Company continues to work through several audits in which observation letters have been received from the Mexican Tax Authority. During the fourth quarter of 2021, a framework to settle a number of years and matters was reached, resulting in a $76 payment, which was fully accrued in the financial statements. Full settlement of these years and matters is expected to be reached first half of next year.
Other Commitments and Contingencies
As part of its ongoing business and operations, the Company and its affiliates are required to provide surety bonds, bank letters of credit and bank guarantees as financial support for various purposes, including environmental remediation, reclamation, exploration permitting, workers compensation programs and other general corporate purposes. At December 31, 2021 and 2020, there were $1,927 and $1,807, respectively, of outstanding letters of credit, surety bonds and bank guarantees. The obligations associated with these instruments are generally related to performance requirements that the Company addresses through its ongoing operations. As the specific requirements are met, the beneficiary of the associated instrument cancels and/or returns the instrument to the issuing entity. Certain of these instruments are associated with operating sites with long-lived assets and will remain outstanding until closure. Generally, bonding requirements associated with environmental regulation are becoming more restrictive. However, the Company believes it is in compliance with all applicable bonding obligations and will be able to satisfy future bonding requirements through existing or alternative means, as they arise.
Newmont is from time to time involved in various legal proceedings related to its business. Except in the above described proceedings, management does not believe that adverse decisions in any pending or threatened proceeding or that amounts that may be required to be paid by reason thereof will have a material adverse effect on the Company’s financial condition or results of operations.
In connection with our investment in Galore Creek, Newmont will owe NovaGold Resources Inc. $75 upon the earlier of approval to construct a mine, mill and all related infrastructure for the Galore Creek project or the initiation of construction of a mine, mill or any related infrastructure. The amount due is non-interest bearing. The decision for an approval and commencement of construction is contingent on the results of a prefeasibility and feasibility study, neither of which have occurred. As such, this amount has not been accrued.
Deferred payments to Barrick of $124 and $156 as of December 31, 2021 and December 31, 2020, respectively, are to be satisfied through funding a portion of Barrick’s share of project expenditures at the Norte Abierto project. These deferred payments to Barrick are included in Other current liabilities and Other non-current liabilities.
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SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
 12 Months Ended
Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS
Year Ended December 31,
202120202019
(in millions)
Deferred Income Tax Valuation Allowance
Balance at beginning of year$3,418 $3,112 $2,994 
Additions due to acquisition of Goldcorp— 86 521 
Additions to deferred income tax expense769 372 97 
Reduction of deferred income tax expense(350)(186)(392)
Re-classification to Assets Held for Sale—— (371)
Additions and reductions reflected in other components of the financial statements(46)34 263 
Balance at end of year$3,791 $3,418 $3,112 
Refer to Note 12 of the Consolidated Financial Statements for additional information.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Risks and Uncertainties
Risks and Uncertainties
As a global mining company, the Company’s revenue, profitability and future rate of growth are substantially dependent on prevailing metal prices, primarily for gold, but also for copper, silver, lead and zinc. Historically, the commodity markets have been very volatile, and there can be no assurance that commodity prices will not be subject to wide fluctuations in the future. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and on the quantities of reserves that the Company can economically produce. The carrying value of the Company’s Property, plant and mine development, net; Inventories; Stockpiles and ore on leach pads; Investments; Deferred income tax assets; and Goodwill are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.
In addition to changes in commodity prices, other factors such as changes in mine plans, increases in costs, geotechnical failures, changes in social, environmental or regulatory requirements, impacts of global events such as the COVID-19 pandemic and management’s decision to reprioritize or abandon a development project can adversely affect the Company’s ability to recover its investment in certain assets and result in impairment charges.
The continued impact of the COVID-19 pandemic could include sites being placed into care and maintenance, significant COVID-19 specific costs, volatility in the prices for gold and other metals, logistical challenges shipping products, delays in product refining and smelting due to restrictions or temporary closures, additional travel restrictions, other supply chain disruptions and workforce interruptions, including loss of life. Depending on the duration and extent of the impact of COVID-19, this could materially impact the Company’s results of operations, cash flows and financial condition and could result in material impairment charges to the Company’s Property, plant and mine development, net; Inventories; Stockpiles and ore on leach pads; Investments; Deferred income tax assets; and Goodwill.
The Cerro Negro mine, located in Argentina, is a U.S. dollar functional currency entity. Argentina’s central bank has enacted a number of foreign currency controls in an effort to stabilize the local currency, including requiring the Company to convert U.S. dollar proceeds from metal sales to local currency and restricting payments to foreign-related entities denominated in foreign currency, such as dividends or distributions to the parent and related companies. We continue to monitor the foreign currency exposure risk and the limitations of repatriating cash to the United States. Currently, these currency controls are not expected to impact the Company's ability to repay its debt obligations or declare dividends.
Minera Yanacocha S.R.L. (“Yanacocha”) includes the mining operations at Yanacocha and the Conga project in Peru. Based on the Company's internal project portfolio evaluation process, we have reprioritized the Yanacocha Sulfides project ahead of Conga, and
therefore we do not anticipate developing Conga in the next ten years. Due to the uncertainty surrounding the project’s development timeline, we have allocated exploration and development capital to other projects in the Company's portfolio. As a result, the Conga project is currently in care and maintenance. Should we be unable to develop the Conga project or conclude that future development is not in the best interest of the business, we may consider other alternatives for the project, which may result in a future impairment charge for the remaining assets. The total assets at Conga as of December 31, 2021 and 2020 were $900 and $1,517 respectively.
Use of Estimates
Use of Estimates
The Company’s Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The preparation of the Company’s Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. The Company must make these estimates and assumptions because certain information used is dependent on future events, cannot be calculated with a high degree of precision from data available or simply cannot be readily calculated based on generally accepted methodologies. Actual results could differ from these estimates.
The more significant areas requiring the use of management estimates and assumptions relate to mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of-production amortization calculations; environmental remediation, reclamation and closure obligations; estimates of recoverable gold and other minerals in stockpile and leach pad inventories; estimates of fair value for certain reporting units and asset impairments (including impairments of long-lived assets, goodwill and investments); write-downs of inventory, stockpiles and ore on leach pads to net realizable value; post-employment, post-retirement and other employee benefit liabilities; valuation allowances for deferred tax assets; provisional amounts related to income tax effects of newly enacted tax laws; provisional amounts related to uncertain tax positions; valuation of assets acquired and liabilities assumed in a business combination; reserves for contingencies and litigation; and the fair value and accounting treatment of financial instruments including marketable and other equity securities and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from those amounts estimated in these financial statements.
Principles of Consolidation
Principles of Consolidation
The Consolidated Financial Statements include the accounts of Newmont Corporation, more-than-50%-owned subsidiaries that it controls and variable interest entities where it is the primary beneficiary. The proportionate consolidation method is used for investments in which the Company has an undivided interest in the assets, liabilities and operations and for certain unincorporated joint ventures in the extractive industry. All significant intercompany balances and transactions have been eliminated. Equity method accounting is applied for certain entities where the Company does not have control, but does have significant influence over the activities that most significantly impact the entities’ operations and financial performance. The functional currency for the majority of the Company’s operations is the U.S. dollar.
The Company follows the Accounting Standards Codification (“ASC”) guidance for identification and reporting of entities over which control is achieved through means other than voting rights. The guidance defines such entities as Variable Interest Entities (“VIEs”).
Business Combinations
Business Combinations
The Company recognizes and measures the assets acquired and liabilities assumed in a business combination based on their estimated fair values at the acquisition date, while transaction and integration costs related to business combinations are expensed as incurred. Any excess of the purchase consideration when compared to the fair value of the net tangible and intangible assets acquired, if any, is recorded as goodwill. For material acquisitions, the Company engages independent appraisers to assist with the determination of the fair value of assets acquired, liabilities assumed, noncontrolling interest, if any, and goodwill, based on recognized business valuation methodologies. An income, market or cost valuation method may be utilized to estimate the fair value of the assets acquired, liabilities assumed, and noncontrolling interest, if any, in a business combination. The income valuation method represents the present value of future cash flows over the life of the asset using: (i) discrete financial forecasts, which rely on management’s estimates of reserve quantities and exploration potential, costs to produce and develop reserves, revenues, and operating expenses; (ii) long-term growth rates; (iii) appropriate discount rates; and (iv) expected future capital requirements (“income valuation method”). The market valuation method uses prices paid for a similar asset by other purchasers in the market, normalized for any differences between the assets (“market valuation method”). The cost valuation method is based on the replacement cost of a comparable asset at the time of the acquisition adjusted for depreciation and economic and functional obsolescence of the asset (“cost valuation method”). The fair value of property, plant and mine development is estimated to include the fair value of asset retirement costs of related long-lived tangible assets. If the initial accounting for the business combination is incomplete by the end of the reporting period in which the acquisition occurs, an estimate will be recorded. Subsequent to the acquisition date, and not later than one year from the acquisition date, the Company will record any material adjustments to the initial estimate based on new information obtained that would have existed as of the date of the acquisition. Any adjustment that arises from information obtained that did not exist as of the date of the acquisition will be recorded in the period the adjustments arises.
Cash, Cash Equivalents and Restricted Cash
Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Because of the short maturity of these investments, the carrying amounts approximate their fair value. Cash and cash equivalents are held in overnight bank deposits or are invested in United States Treasury securities and money market securities. Restricted cash is excluded from cash and cash equivalents and is included in other current or non-current assets. Restricted cash is held primarily for the purpose of settling asset retirement obligations.
Stockpiles, Ore on Leach Pads and Inventories
Stockpiles, Ore on Leach Pads and Inventories
As described below, costs that are incurred in or benefit the productive process are accumulated as stockpiles, ore on leach pads and inventories. Stockpiles, ore on leach pads and inventories are carried at the lower of average cost or net realizable value. Net realizable value represents the estimated future sales price of the product based on current and long-term metals prices, less the estimated costs to complete production and bring the product to sale. Write-downs of stockpiles, ore on leach pads and inventories to net realizable value are reported as a component of Costs applicable to sales and Depreciation and amortization. The current portion of stockpiles, ore on leach pads and inventories is determined based on the expected amounts to be processed within the next 12 months and utilize the short-term metal price assumption in estimating net realizable value. Stockpiles, ore on leach pads and inventories not expected to be processed within the next 12 months are classified as non-current and utilize the long-term metal price assumption in estimating net realizable value. The major classifications are as follows:
Stockpiles
Stockpiles represent ore that has been extracted from the mine and is available for further processing. Mine sequencing may result in mining material at a faster rate than can be processed. The Company generally processes the highest ore grade material first to maximize metal production; however, a blend of metal stockpiles may be processed to balance hardness and/or metallurgy in order to maximize throughput and recovery. Processing of lower grade stockpiled ore may continue after mining operations are completed. Sulfide copper ores are subject to oxidation over time which can reduce expected future recoveries. Stockpiles are measured by estimating the number of tons added and removed from the stockpile, the number of contained ounces or pounds (based on assay data) and the estimated metallurgical recovery rates (based on the expected processing method). Stockpile ore tonnages are verified by periodic surveys. Costs are added to stockpiles based on current mining costs incurred including applicable overhead and depreciation and amortization relating to mining operations and removed at each stockpile’s average cost per recoverable unit as material is processed. Stockpiles are recorded at the lower of average cost or net realizable value, and carrying values are evaluated at least quarterly. Net realizable value represents the estimated future sales price based on short-term and long-term metals price assumptions, less estimated costs to complete production and bring the product to sale.
Ore on Leach Pads
Ore on leach pads represent ore that has been mined and placed on leach pads where a solution is applied to the surface of the heap to dissolve the gold or silver or extract the copper.
Costs are added to ore on leach pads based on current mining costs, including applicable depreciation and amortization relating to mining operations. Costs are removed from ore on leach pads as ounces or pounds are recovered based on the average cost per estimated recoverable ounce of gold or silver or pound of copper on the leach pad.
Estimates of recoverable ore on the leach pads are calculated from the quantities of ore placed on the leach pads (measured tons added to the leach pads), the grade of ore placed on the leach pads (based on assay data) and a recovery percentage (based on ore type). In general, leach pads recover between 50% and 95% of the recoverable ounces in the first year of leaching, declining each year thereafter until the leaching process is complete.
Although the quantities of recoverable metal placed on the leach pads are reconciled by comparing the grades of ore placed on pads to the quantities of metal actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored and estimates are refined based on actual results over time. Historically, the Company’s operating results have not been materially impacted by variations between the estimated and actual recoverable quantities of metal on its leach pads. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis.
In-process Inventory
In-process inventories represent material that is currently in the process of being converted to a saleable product. Conversion processes vary depending on the nature of the ore and the specific processing facility, but include mill in-circuit, flotation, leach and carbon-in-leach. In-process material is measured based on assays of the material fed into the process and the projected recoveries of the respective processing plants. In-process inventories are valued at the lower of the average cost of the material fed into the process attributable to the source material coming from the mines, stockpiles and/or leach pads, plus the in-process conversion costs, including applicable amortization relating to the process facilities incurred to that point in the process or net realizable value.
Precious Metals Inventory
Precious metals inventories include gold doré and/or gold bullion. Precious metals that result from the Company’s mining and processing activities are valued at the lower of the average cost of the respective in-process inventories incurred prior to the refining process, plus applicable refining costs or net realizable value.
Concentrate Inventory
Concentrate inventories represent gold, silver, lead, zinc and copper concentrate available for shipment or in transit for further processing when the sales process has not been completed. The Company values concentrate inventory at average cost, including an allocable portion of support costs and amortization. Costs are added and removed to the concentrate inventory based on metal in the concentrate and are valued at the lower of average cost or net realizable value.
Materials and Supplies
Materials and supplies are valued at the lower of average cost or net realizable value. Cost includes applicable taxes and freight.
Property, Plant and Mine Development
Property, Plant and Mine Development
Facilities and Equipment
Expenditures for new facilities or equipment and expenditures that extend the useful lives of existing facilities or equipment are capitalized and recorded at cost. Facilities and equipment acquired as a part of a finance lease, build-to-suit or other financing arrangement are capitalized and recorded based on the contractual lease terms. The facilities and equipment are depreciated using the straight-line method at rates sufficient to depreciate such capitalized costs over the estimated productive lives of such facilities. These estimated productive lives do not exceed the related estimated mine lives, which are based on proven and probable reserves.
Mine Development
Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Advanced projects, research and development expense. Capitalization of mine development project costs that meet the definition of an asset begins once mineralization is classified as proven and probable reserves.
Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information on the ore body or converting measured, indicated and inferred resources to proven and probable reserves. All other drilling and related costs are expensed as incurred. Drilling costs incurred during the production phase for operational ore control are allocated to inventory costs and then included as a component of Costs applicable to sales.
The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Where multiple open pits exist at a mining complex utilizing common processing facilities, pre-stripping costs are capitalized at each pit. The removal, production, and sale of de minimis saleable materials may occur during the development phase of an open pit mine and are assigned incremental mining costs related to the removal of that material.
The production phase of an open pit mine commences when saleable minerals, beyond a de minimis amount, are produced. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory.
Mine development costs are amortized using the units-of-production method based on estimated recoverable ounces or pounds in proven and probable reserves. To the extent that these costs benefit an entire ore body, they are amortized over the estimated life of the ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that area are amortized over the estimated life of that specific ore block or area.
Underground development costs are capitalized as incurred. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Advanced projects, research and development expense. Capitalization of mine development project costs that meet the definition of an asset begins once mineralization is classified as proven and probable reserves.
Mineral Interests
Mineral interests include acquired interests in production, development and exploration stage properties. Mineral interests are capitalized at their fair value at the acquisition date, either as an individual asset purchase or as part of a business combination. Mineral
interests in the development and exploration stage are not amortized until the underlying property is converted to the production stage, at which point the mineral interests are amortized over the estimated recoverable proven and probable reserves.
The value of such assets is primarily driven by the nature and amount of mineral interests believed to be contained in such properties. Production stage mineral interests represent interests in operating properties that contain proven and probable reserves and are amortized using the units-of-production method based on the estimated recoverable ounces or pounds in proven and probable reserves. Development stage mineral interests represent interests in properties under development that contain proven and probable reserves. Exploration stage mineral interests represent interests in properties that are believed to potentially contain mineral resources consisting of (i) mineral resources within pits; mineral resources with insufficient drill spacing to qualify as proven and probable reserves; and mineral resources in close proximity to proven and probable reserves; (ii) around-mine exploration potential not immediately adjacent to existing reserves and mineralization, but located within the immediate mine area; (iii) other mine-related exploration potential that is not part of current resources and is comprised mainly of material outside of the immediate mine area; (iv) greenfield exploration potential that is not associated with any other production, development or exploration stage property, as described above; or (v) any acquired right to explore or extract a potential mineral deposit. The Company’s mineral rights generally are enforceable regardless of whether proven and probable reserves have been established. In certain limited situations, the nature of a mineral right changes from an exploration right to a mining right upon the establishment of proven and probable reserves. The Company has the ability and intent to renew mineral interests where the existing term is not sufficient to recover all identified and valued proven and probable reserves and/or undeveloped mineral resources.
Goodwill
Goodwill
Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in a business acquisition. Goodwill is allocated to reporting units and tested for impairment annually as of December 31 and when events or changes in circumstances indicate that the carrying value of a reporting unit exceeds its fair value. Each operating mine is considered a distinct reporting unit for purposes of goodwill impairment testing.
The Company may elect to perform a qualitative assessment when it is more likely than not that the fair value of a reporting unit is higher than its carrying value. If the Company determines that it is more likely than not that the fair value is less than the carrying value, a quantitative goodwill impairment test is performed to determine the fair value of the reporting unit. The fair value of a reporting unit is determined using either the income approach utilizing estimates of discounted future cash flows or the market approach utilizing recent transaction activity for comparable properties. These approaches are considered Level 3 fair value measurements. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. The Company recognizes its pro rata share of goodwill and any subsequent goodwill impairment losses recorded by entities that are proportionately consolidated.
The estimated cash flows used to assess the fair value of a reporting unit are derived from the Company’s current business plans, which are developed using short-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to short- and long-term metal price assumptions, other assumptions include estimates of commodity-based and other input costs; capital investment; proven and probable mineral reserve estimates, including the timing and cost to develop and produce the reserves; value beyond proven and probable mineral reserve and measured, indicated and inferred resource estimates; estimated future closure costs; and the use of appropriate discount rates.
Impairment of Long-lived Assets
Impairment of Long-lived Assets
The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. An impairment loss is measured and recorded based on the estimated fair value of the long-lived assets being tested for impairment, and their carrying amounts. Fair value is typically determined through the use of an income approach utilizing estimates of discounted pre-tax future cash flows or a market approach utilizing recent transaction activity for comparable properties. These approaches are considered Level 3 fair value measurements. Occasionally, such as when an asset is held for sale, market prices are used.
The estimated undiscounted cash flows used to assess recoverability of long-lived assets and to measure the fair value of the Company’s mining operations are derived from current business plans, which are developed using short-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to short- and long-term metal price assumptions, other assumptions include estimates of commodity-based and other input costs; proven and probable mineral reserve estimates, including the timing and cost to develop and produce the reserves; value beyond proven and probable mineral reserve and measured, indicated and inferred resource estimates; estimated future closure costs; and the use of appropriate discount rates.
In estimating undiscounted cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of undiscounted cash flows from other asset groups. The Company’s estimates of undiscounted cash flows are based on numerous assumptions and it is possible that actual cash flows may differ significantly from estimates, as actual produced reserves, metal prices, commodity-based and other costs, and closure costs are each subject to significant risks and uncertainties.
Investments
Investments
Management classifies investments at the acquisition date and re-evaluates the classification at each balance sheet date and when events or changes in circumstances indicate that there is a change in the Company’s ability to exercise significant influence. The ability to exercise significant influence is typically presumed when the Company possesses 20% or more of the voting interests in the investee. The Company accounts for its investments in stock of other entities over which the Company has significant influence, but not control, using the equity method of accounting. Under the equity method of accounting, the Company increases its investment for contributions made and records its proportionate share of net earnings, declared dividends and partnership distributions based on the most recently available financial statements of the investee. To the extent that there is a basis difference between the amount invested and the underlying equity in the net assets of an equity investment, the Company allocates such differences between tangible and intangible assets. This basis difference is being amortized into Equity income (loss) of affiliates over the remaining estimated useful lives of the underlying tangible and intangible net assets. Equity method investments are included in Investments.
Contributions made to equity method investees at times are in the form of loan agreements. Loans provided to equity method investees that are made based on the Company's proportionate ownership percentage are accounted for as “in-substance capital contributions” and are treated as an increase to the investment. Principal and interest payments received on loans treated as in-substance capital contributions are assessed under the cumulative earnings approach to determine if the distribution received represents a return on capital or a return of capital. Return on capital distributions are recorded as an operating cash flow whereas return of capital distributions are recorded as an investing cash flow. Loans provided to equity method investees that are not made on a proportionate basis are accounted for as a loan receivable and do not increase the investment. Principal payments received on loans not treated as an in-substance capital contribution are accounted for as a reduction to the loan receivable and interest received is recorded as interest income.
The Company evaluates its equity method investments for potential impairment whenever events or changes in circumstances indicate that there is an other-than-temporary decline in the value of the investment. Declines in fair value that are deemed to be other-than-temporary are charged to Other income (loss), net.
Additionally, the Company has certain marketable equity and debt securities and other equity securities. Marketable equity securities are measured primarily at fair value with any changes in fair value recorded in Other income (loss), net. Certain other equity securities are accounted for under the measurement alternative (cost less impairment, adjusted for any qualifying observable price changes) when fair value is not readily determinable. The Company accounts for its restricted marketable debt securities as available-for-sale securities. Unrealized gains and losses on available-for-sale ("AFS") investments, net of taxes, are reported as a component of Accumulated other comprehensive income (loss) in Total equity, unless an impairment is deemed to be credit-related. Credit-related impairment is recognized as an allowance for credit losses on the balance sheet with a corresponding charge to Other income (loss), net.
Debt
Debt
The Company carries its Senior Notes at amortized cost.
Debt issuance costs and debt premiums and discounts, which are included in Debt, and unrealized gains or losses related to cash flow hedges using treasury rate lock contracts and forward starting swap contracts, which are included in Accumulated other comprehensive income (loss), are amortized using the effective interest method over the terms of the respective Senior Notes as a component of Interest expense, net within the Consolidated Statements of Operations.
When repurchasing its debt, the Company records the resulting gain or loss as well as the accelerated portion of related debt issuance costs, premiums and discounts, and any unrealized gains or losses from the associated treasury rate lock contracts and/or associated forward starting swap contracts, included in Accumulated other comprehensive income (loss), in Other income (loss), net.
Leases
Leases
The Company determines if a contractual arrangement represents or contains a lease at inception. Operating leases are included in Other non-current assets and Other current and non-current liabilities in the Consolidated Balance Sheets. Finance leases are included in Property, plant and mine development, net and current and non-current Lease and other financing obligations in the Consolidated Balance Sheets.
Operating and finance lease right-of-use ("ROU") assets and lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. Leases acquired in a business combination are also measured based on the present value of the remaining leases payments, as if the acquired lease were a new lease at the acquisition date. When the rate implicit to the lease cannot be readily determined, the Company utilizes its incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is derived from information available at the lease commencement date and represents the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment. The ROU asset includes any lease payments made and lease incentives received prior to the commencement date. Operating lease ROU assets also include any
cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.
The Company has lease arrangements that include both lease and non-lease components. The Company accounts for each separate lease component and its associated non-lease components as a single lease component for the majority of its asset classes. Additionally, for certain lease arrangements that involve leases of similar assets, the Company applies a portfolio approach to effectively account for the underlying ROU assets and lease liabilities.
Contingently Redeemable Noncontrolling Interest
Contingently Redeemable Noncontrolling Interest
Certain noncontrolling interests in consolidated entities meet the definition of redeemable financial instruments if the ability to redeem the interest is outside of the control of the consolidating entity. In such cases, these financial instruments are classified outside of permanent equity (referred to as temporary equity).
Common Stock
In order to consummate the Newmont Goldcorp transaction, the Company amended its Restated Certificate of Incorporation to increase Newmont’s authorized number of shares of common stock from 750 million to 1.28 billion, as approved by Newmont shareholders at the April 11, 2019 special meeting of stockholders.
In July 2021, Newmont filed a shelf registration statement on Form S-3 under which it can issue an indeterminate number or amount of common stock, preferred stock, debt securities, guarantees of debt securities and warrants from time to time at indeterminate prices, subject to the limitations of the Delaware General Corporation Law, the Company's certification of incorporation and bylaws. It also includes the ability to resell an indeterminate amount of common stock, preferred stock and debt securities from time to time upon exercise of warrants or conversion of convertible securities.
Treasury Stock
Treasury Stock
The Company records repurchases of common shares as Treasury stock at cost and records any subsequent retirements of treasury shares at cost. When treasury shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired to both Retained earnings and Additional paid-in capital using settlement-date accounting. The portion allocated to Additional paid-in capital is calculated on a pro rata basis of the shares to be retired and the total shares issued and outstanding as of the date of the retirement.
During the years ended December 31, 2021, 2020 and 2019, the Company repurchased and retired approximately 9 million, 10 million and 12 million shares of its common stock for $525, $521 and $479, respectively. During the years ended December 31, 2021, 2020 and 2019, the Company withheld 0.6 million, 1.0 million and 1.4 million shares, respectively, for payments of employee withholding taxes related to the vesting of stock awards.
Revenue Recognition
Revenue Recognition
Newmont generates revenue by selling gold, silver, lead, zinc and copper produced from its mining operations. Refer to Note 4 for further information regarding the Company’s operating segments.
The majority of the Company’s Sales come from the sale of refined gold; however, the end product at the Company’s gold operations is generally doré bars. Doré is an alloy consisting primarily of gold but also containing silver and other metals. Doré is sent to refiners to produce bullion that meets the required market standard of 99.95% gold. Under the terms of the Company’s refining agreements, the doré bars are refined for a fee, and the Company’s share of the refined gold and the separately-recovered silver is credited to its bullion account. Gold from doré bars credited to its bullion account is typically sold to banks or refiners.
A portion of gold sold from certain sites is sold in the form of concentrate. The Company’s Sales also come from the sale of silver, lead, zinc and copper. Sales from these metals are generally in the form of concentrate, which is sold to smelters for further treatment and refining.
Generally, if a metal expected to be mined represents more than 10% to 20% of the life of mine sales value of all the metal expected to be mined, co-product accounting is applied. When the Company applies co-product accounting at an operation, revenue is recognized for each co-product metal sold, and shared costs applicable to sales are allocated based on the relative sales values of the co-product metals produced. Generally, if metal expected to be mined is less than the 10% to 20% of the life of mine sales value, by-product accounting is applied. Revenues from by-product sales, which are immaterial, are credited to Costs applicable to sales as a by-product credit. Silver, lead and zinc are produced as co-products at Peñasquito. Copper is produced as a co-product at Boddington and was produced as a co-product at Phoenix until the formation of NGM on July 1, 2019. Silver, lead, zinc and/or copper are produced as a by-product at all other Newmont sites.
Gold Sales from Doré Production
The Company recognizes revenue for gold from doré production when it satisfies the performance obligation of transferring gold inventory to the customer, which generally occurs upon transfer of gold bullion credits as this is the point at which the customer obtains control the ability to direct the use and obtains substantially all of the remaining benefits of ownership of the asset.
The Company generally recognizes the sale of gold bullion credits when the credits are delivered to the customer. The transaction price is determined based on the agreed upon market price and the number of ounces delivered. Payment is due upon delivery of gold bullion credits to the customer’s account.
Sales from Concentrate Production
The Company recognizes revenue for gold, silver, lead, zinc and copper from concentrate production, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer. This generally occurs as material passes over the vessel's rail at the port of loading based on the date from the bill of lading, as the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from the material and the customer has the risk of loss. Newmont has elected to account for shipping and handling costs for concentrate contracts as fulfillment activities and not as promised goods or services; therefore these activities are not considered separate performance obligations.
The Company generally sells metal concentrate based on the monthly average market price for a future month, dependent on the relevant contract, following the month in which the delivery to the customer takes place. The amount of revenue recognized for concentrates is initially recorded on a provisional basis based on the forward prices for the estimated month of settlement and the Company’s estimated metal quantities based on assay data. The Company’s sales based on a provisional price contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the concentrates at the forward price at the time of sale. The embedded derivative, which is not designated for hedge accounting, is primarily marked to market through Sales each period prior to final settlement. The Company also adjusts estimated metal quantities used in computing provisional sales using new information and assay data from the smelter as it is received (if any).
A provisional payment is generally due upon delivery of the concentrate to the customer. Final payment is due upon final settlement of price and quantity with the customer.
The principal risks associated with recognition of sales on a provisional basis include metal price fluctuations and updated quantities between the date the sale is recorded and the date of final settlement. If a significant decline in metal prices occurs, or assay data results in a significant change in quantity between the provisional pricing date and the final settlement date, it is reasonably possible that the Company could be required to return a portion of the provisional payment received on the sale. Refer to Note 5 for additional information.
Income and Mining Taxes
Income and Mining Taxes
The Company accounts for income taxes using the liability method, recognizing certain temporary differences between the financial reporting basis of the Company’s liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset for the Company, as measured by the statutory tax rates in effect. The Company derives its deferred income tax charge or benefit by recording the change in either the net deferred income tax liability or asset balance for the year. The financial statement effects of changes in tax law are recorded as discrete items in the period enacted as part of income tax expense or benefit from continuing operations, regardless of the category of income or loss to which the deferred taxes relate. The Company determines if the assessment of a particular income tax effect is “complete.” Those effects for which the accounting is determined to be complete are reported in the enactment period financial statements. The Company has exposure to the impact of foreign exchange fluctuations on tax positions in certain jurisdictions, such movements are recorded within Income and mining tax benefit (expense) related to deferred income tax assets and liabilities, as well as non-current uncertain tax positions, while foreign exchange fluctuations impacting current tax positions are recorded within Other income (loss), net as foreign currency exchange gains (losses). With respect to the earnings that the Company derives from the operations of its consolidated subsidiaries, in those situations where the earnings are indefinitely reinvested, no deferred taxes have been provided on the unremitted earnings (including the excess of the carrying value of the net equity of such entities for financial reporting purposes over the tax basis of such equity) of these consolidated companies.
Mining taxes represent state and provincial taxes levied on mining operations and are classified as income taxes. As such, taxes are based on a percentage of mining profits.
Newmont’s operations are in multiple jurisdictions where uncertainties arise in the application of complex tax regulations. Some of these tax regimes are defined by contractual agreements with the local government, while others are defined by general tax laws and regulations. Newmont and its subsidiaries are subject to reviews of its income tax filings and other tax payments, and disputes can arise with the taxing authorities over the interpretation of its contracts or laws. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on its estimate of whether it is more likely than not, and the extent to which, additional taxes will be due. The Company adjusts these reserves in light of changing facts and circumstances; however, due to the complexity of some of these uncertainties, the ultimate resolution may result in
a payment that is materially different from the Company’s current estimate of the tax liabilities. If the Company’s estimate of tax liabilities proves to be less than the ultimate assessment, an additional charge to expense would result. If the estimate of tax liabilities proves to be greater than the ultimate assessment, a tax benefit would result. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in Income and mining tax benefit (expense). In certain jurisdictions, Newmont must pay a portion of the disputed amount to the local government in order to formally appeal the assessment. Such payment is recorded as a receivable if Newmont believes the amount is collectible.
Valuation of Deferred Tax Assets
The Company’s deferred income tax assets include certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized. The Company reviews the likelihood that it will realize the benefit of its deferred tax assets and therefore the need for valuation allowances on a quarterly basis, or more frequently if events indicate that a review is required. In determining the requirement for a valuation allowance, the historical and projected financial results of the legal entity or consolidated group recording the net deferred tax asset is considered, along with all other available positive and negative evidence.
Certain categories of evidence carry more weight in the analysis than others based upon the extent to which the evidence may be objectively verified. The Company looks to the nature and severity of cumulative pretax losses (if any) in the current three-year period ending on the evaluation date, recent pretax losses and/or expectations of future pretax losses. Other factors considered in the determination of the probability of the realization of the deferred tax assets include, but are not limited to:
•Earnings history;
•Projected future financial and taxable income based upon existing reserves and long-term estimates of commodity prices;
•The duration of statutory carry forward periods;
•Prudent and feasible tax planning strategies readily available that may alter the timing of reversal of the temporary difference;
•Nature of temporary differences and predictability of reversal patterns of existing temporary differences; and
•The sensitivity of future forecasted results to commodity prices and other factors.
Concluding that a valuation allowance is not required is difficult when there is significant negative evidence which is objective and verifiable, such as cumulative losses in recent years. The Company utilizes a rolling twelve quarters of pre-tax income or loss as a measure of its cumulative results in recent years. However, a cumulative three year loss is not solely determinative of the need for a valuation allowance. The Company also considers all other available positive and negative evidence in its analysis.
Reclamation and Remediation Costs
Reclamation and Remediation Costs
Reclamation obligations associated with operating and non-operating mine sites are recognized when an obligation is incurred and the fair value can be reasonably estimated. Fair value is measured as the present value of expected cash flow estimates, after considering inflation, our credit-adjusted risk-free rates and a market risk premium appropriate for our operations. The liability is accreted over time through periodic charges to earnings. In addition, the asset retirement cost is capitalized as part of the asset’s carrying value and amortized over the life of the related asset. Reclamation costs are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation costs. Changes in reclamation estimates at mines that are not currently operating, as the mine or portion of the mine site has entered the closure phase and has no substantive future economic value, are reflected in earnings in the period an estimate is revised. The estimated reclamation obligation is based on when spending for an existing disturbance is expected to occur. Costs included in estimated asset retirement obligations are discounted to their present value as cash flows are readily estimable over a period of up to fifty years. The Company reviews, on an annual basis, unless otherwise deemed necessary, the reclamation obligation at each mine site in accordance with ASC guidance for asset retirement obligations.
Remediation costs are accrued when it is probable that an obligation has been incurred and the cost can be reasonably estimated. Such cost estimates may include ongoing care, maintenance and monitoring costs. Changes in remediation estimates at non-operating mines are reflected in earnings in the period an estimate is revised. Water treatment costs included in environmental remediation obligations are discounted to their present value as cash flows are readily estimable over a period up to fifty years.
Foreign Currency
Foreign Currency
The functional currency for the majority of the Company’s operations is the U.S. dollar. Transaction gains and losses related to foreign currency denominated monetary assets and liabilities where the functional currency is the U.S. dollar are remeasured at current exchange rates and the resulting adjustments are included in Other income (loss), net. The financial statements of our foreign entities with functional currencies other than the U.S. dollar are translated into U.S. dollars with the resulting adjustments charged or credited directly to Accumulated other comprehensive income (loss) in total equity. All assets and liabilities are translated into the U.S. dollar using exchange rates in effect at the balance sheet date, while revenues and expenses are translated at the weighted average
exchange rates for the period. The gains or losses on foreign currency rates on cash holdings in foreign currencies are included in Effect of exchange rate changes on cash, cash equivalents and restricted cash in the Company’s Consolidated Statements of Cash Flows.
Cash Flow Hedges
Cash Flow Hedges
The fair value of derivative contracts qualifying as cash flow hedges are reflected as assets or liabilities in the Consolidated Balance Sheets. The changes in fair value of these hedges are deferred in Accumulated other comprehensive income (loss). Amounts deferred in Accumulated other comprehensive income (loss) are reclassified to income when the hedged transaction has occurred in the same income statement line where the earnings effect of the hedged item is presented. Cash transactions related to the Company’s derivative contracts accounted for as hedges are classified in the same category as the item being hedged in the Consolidated Statements of Cash Flows.
When derivative contracts qualifying as cash flow hedges are settled, accelerated or restructured before the maturity date of the contracts, the related amount in Accumulated other comprehensive income (loss) at the settlement date is deferred and reclassified to earnings, when the originally designated hedged transaction impacts earnings, unless the underlying hedge transaction becomes probable of not occurring, at which time related amounts in Accumulated other comprehensive income (loss) are reclassified to earnings immediately.
Newmont assesses the effectiveness of the derivative contracts using a regression analysis, both retrospectively and prospectively, to determine whether the hedging instruments have been highly effective in offsetting changes in the fair value of the hedged items. The Company also assesses whether the hedging instruments are expected to be highly effective in the future. If a hedging instrument is not expected to be highly effective, the Company will stop hedge accounting prospectively. In those instances, the gains or losses remain in Accumulated other comprehensive income (loss) until the hedged item affects earnings. For option contracts, the Company excludes the time value from the measurement of effectiveness.
Stock-Based Compensation
Stock-Based Compensation
The Company records stock-based compensation awards exchanged for employee services at fair value on the date of the grant and expenses the awards in the Consolidated Statements of Operations over the requisite employee service period. The fair value of stock options is determined using the Black-Scholes valuation model. The fair value of restricted stock units (“RSUs”) are based on the Newmont stock price on the date of grant. The fair value of performance leverage stock units (“PSUs”) is determined using a Monte Carlo simulation model. Stock-based compensation expense related to all awards, including awards with a market or performance condition that cliff vest, is generally recognized ratably over the requisite service period of the award on a straight-line basis. The Company recognizes forfeitures as they occur. The Company's estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee retirement eligibility dates, the Company's performance and related tax impacts.
Net Income (Loss) per Common Share
Net Income (Loss) per Common Share
Basic and diluted income per share are presented for Net income (loss) attributable to Newmont stockholders. Basic income per common share is computed by dividing income available to Newmont common stockholders by the weighted average number of common shares outstanding during the period. Diluted income per common share is computed similarly except that weighted average common shares is increased to reflect all dilutive instruments, including employee stock awards. The dilutive effects of Newmont’s dilutive securities are excluded from the calculation of diluted weighted average common shares outstanding if their effect would be anti-dilutive based on the treasury stock method or due to a net loss from continuing operations.
Discontinued Operations
Discontinued Operations
The Company reports the results of operations of a business as discontinued operations if a disposal represents a strategic shift that has (or will have) a major effect on the Company’s operations and financial results when the business is classified as held for sale, in accordance with ASC 360, Property, Plant and Equipment and ASC 205-20, Presentation of Financial Statements - Discontinued Operations. Under ASC 360, assets may be classified as held for sale even though discontinued operations classification is not met. Equity method investments, which are specifically scoped out of ASC 360, can only be classified as held for sale if discontinued operations classification is also achieved. The results of discontinued operations are reported in Net income (loss) from discontinued operations, net of tax in the accompanying Consolidated Statements of Operations for current and prior periods, including any gain or loss recognized on closing or adjustment of the carrying amount to fair value less cost to sell.
Comprehensive Income (Loss)
Comprehensive Income (Loss)
In addition to Net income (loss), Comprehensive income (loss) includes all changes in equity during a period, such as adjustments to minimum pension liabilities, foreign currency translation adjustments, changes in fair value of derivative instruments that qualify as cash flow hedges and cumulative unrecognized changes in fair value of marketable debt securities classified as available-for-sale, except those resulting from investments by and distributions to owners.
Care and Maintenance Care and MaintenanceThe Company incurs certain direct operating costs and depreciation and amortization costs when operations are temporarily halted and placed in care and maintenance. Direct operating costs incurred while operations are temporarily placed in care and maintenance are included in Care and Maintenance as these costs do not benefit the productive process and are not related to sales. Depreciation and amortization costs incurred while operations are temporarily placed in care and maintenance are included in Depreciation and amortization.
Reclassifications
Reclassifications
Certain amounts and disclosures in prior years have been reclassified to conform to the 2021 presentation.
Recently Adopted and Recently Issued Accounting Pronouncements and Securities and Exchange Commission Rules
Recently Adopted Accounting Pronouncements and Securities and Exchange Commission Rules
Accounting for Income Taxes
In December 2019, Accounting Standard Update ("ASU") No. 2019-12 was issued to simplify the accounting for income taxes, eliminate certain exceptions within Accounting Standard Codification ("ASC") 740, Income Taxes, and clarify certain aspects of the current guidance to promote consistency among reporting entities. The Company adopted this standard as of January 1, 2021. The adoption did not have a material impact on the Consolidated Financial Statements or disclosures.
Accounting for Equity Securities, Investments and Certain Forward Contracts and Options
In January 2020, ASU No. 2020-01 was issued which clarifies the interaction in accounting for equity securities under ASC 321, investments accounted for under the equity method of accounting in ASC 323 and the accounting for certain forward contracts and purchased options accounted for under ASC 815, Derivatives and Hedging. The Company adopted this standard as of January 1, 2021. The adoption did not have a material impact on the Consolidated Financial Statements or disclosures.
Financial Disclosures about Acquired and Disposed Businesses
In May 2020, the SEC finalized its proposed updates to Rule 3-05 within Regulation S-X, Financial statements of businesses acquired or to be acquired, Rule 3-14, Special instructions for real estate operations to be acquired; Article 11, Pro Forma Financial Information; and other related rules and forms (the “Rules”). The Rules include amendments, which among other things: revise significance tests used to determine disclosure requirements; require the financial statements of the acquired business to cover only up to the two most recent fiscal years; permit the use of, or reconciliation to, International Financial Reporting Standards as issued by the International Accounting Standards Board in certain circumstances; and amend certain pro forma financial information requirements. The Rules were adopted on January 1, 2021. The adoption did not have a material impact on the Consolidated Financial Statements or disclosures.
Recently Issued Accounting Pronouncements and Securities and Exchange Commission Rules
Effects of Reference Rate Reform
In March 2020, ASU No. 2020-04 was issued which provides optional guidance for a limited period of time to ease the potential burden on accounting for contract modifications caused by reference rate reform. In January 2021, ASU No. 2021-01 was issued which broadened the scope of ASU No. 2020-04 to include certain derivative instruments. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022. The guidance may be adopted over time as reference rate reform activities occur and should be applied on a prospective basis. The Company is in the process of reviewing key contracts to identify any contracts that reference the London Interbank Offered Rate ("LIBOR") and to implement adequate fallback provisions if not already implemented to mitigate the risks or impacts from the transition. No material impacts are expected to the Consolidated Financial Statements or disclosures.
Financial Disclosures of Government Assistance
In November 2021, ASU No. 2021-10 was issued which provides guidance for required annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. The guidance is effective for all entities for annual periods beginning after December 15, 2021. The Company is still completing its evaluation of the impact of ASU 2021-10. The Company does not expect the guidance to have a material impact on the Consolidated Financial Statements or disclosures.
v3.22.0.1
BUSINESS ACQUISITION (Tables)
 12 Months Ended
Dec. 31, 2021
Business Combinations [Abstract]  
Schedule of acquisition date transaction components
The acquisition date fair value of the consideration transferred consisted of the following:
Newmont stock issued (285 million shares at $33.04 per share)
$9,423 
Cash paid to Goldcorp shareholders17 
Other non-cash consideration16 
Total consideration$9,456 
Summary of purchase price allocation The following table summarizes the final purchase price allocation for the Newmont Goldcorp transaction:
Assets:
Cash and cash equivalents$117 
Trade receivables95 
Investments169 
Equity method investments (1)
2,796 
Inventories500 
Stockpiles and ore on leach pads57 
Property, plant & mine development (2)
11,054 
Goodwill (3)
2,550 
Deferred income tax assets (4)
206 
Other assets508 
Total assets18,052 
Liabilities:
Debt (5)
3,304 
Accounts payable240 
Employee-related benefits190 
Income and mining taxes payable20 
Lease and other financing obligations423 
Reclamation and remediation liabilities (6)
897 
Deferred income tax liabilities (4)
1,430 
Silver streaming agreement (7)
1,165 
Other liabilities (8)
927 
Total liabilities8,596 
Net assets acquired$9,456 
____________________________
(1)The fair value of the equity method investments was determined by applying the income valuation method. The income valuation method relies on a discounted cash flow model and projected financial results. Discount rates for the discounted cash flow models are based on capital structures for similar market participants and included various risk premiums that account for risks associated with the specific investments.
(2)The fair value of property, plant and mine development is based on applying the income and cost valuation methods and includes a provision for the estimated fair value of asset retirement obligations related to the long-lived tangible assets.
(3)Goodwill attributable to the North America and South America reportable segments is $2,091 and $459, respectively. During the first quarter of 2020, the Company reclassified $84 of goodwill previously allocated to the Red Lake reporting unit, and included in Assets held for sale as of December 31, 2019, to other reporting units in the North America reportable segment as a result of refinements to deferred tax liability allocations during the first quarter that existed at the acquisition date. The Company disposed $47 of goodwill remaining at Red Lake on March 31, 2020 as part of the Red Lake Sale. See Note 10 for additional information.
(4)Deferred income tax assets and liabilities represent the future tax benefit or future tax expense associated with the differences between the fair value allocated to assets (excluding goodwill) and liabilities and the historical carryover tax basis of these assets and liabilities. No deferred tax liability is recognized for the basis difference inherent in the fair value allocated to goodwill.
(5)The fair value of the Goldcorp Senior Notes is measured using a market approach, based on quoted prices for the acquired debt; $1,250 of borrowings under the term loan and revolving credit agreements approximate fair value.
(6)The fair value of reclamation and remediation liabilities is based on the expected amounts and timing of cash flows for closure activities and discounted to present value using a credit-adjusted risk-free rate as of the acquisition date. Key assumptions include the costs and timing of key closure activities based on the life of mine plans, including estimates and timing of monitoring and water management costs (if applicable) after the completion of initial closure activities.
(7)The fair value of the acquired silver streaming intangible liability is valued by using the income valuation method. Key assumptions in the income valuation method include long-term silver prices, level of silver production over the life of mine and discount rates.
(8)Other liabilities includes the balance of $450 related to unrecognized tax benefits, interest and penalties.
Schedule of pro-forma financial information
The following unaudited pro forma financial information presents consolidated results assuming the Goldcorp acquisition occurred on January 1, 2019.
Year Ended December 31, 2019
Sales$10,468 
Net income (loss) (1)
$2,666 
____________________________
(1)Included in Net income (loss) attributable to Newmont stockholders is $260 of Newmont Goldcorp transaction and integration costs for the year ended December 31, 2019.
v3.22.0.1
SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Financial information of Company's segments The financial information relating to the Company’s segments is as follows:
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures(1)
Year Ended December 31, 2021
CC&V$396 $238 $66 $18 $64 $777 $42 
Musselwhite277 157 80 7 30 1,317 39 
Porcupine517 269 91 17 121 1,572 68 
Éléonore446 237 139 5 60 1,062 46 
Peñasquito:
Gold1,250 395 201 
Silver651 332 169 
Lead172 76 39 
Zinc561 256 112 
Total Peñasquito2,634 1,059 521 8 979 6,561 144 
Other North America— — 14 5 (32)66 — 
North America
4,270 1,960 911 60 1,222 11,355 339 
Yanacocha471 232 111 18 (1,552)1,735 171 
Merian780 326 98 11 328 952 47 
Cerro Negro480 243 137 9 68 2,183 108 
Other South America— — 5 35 (632)2,282 2 
South America
1,731 801 351 73 (1,788)7,152 328 
Boddington:
Gold1,212 607 99 
Copper295 143 23 
Total Boddington1,507 750 122 8 627 2,261 174 
Tanami879 278 100 24 466 1,334 304 
Other Australia— — 6 16 62 45 7 
Australia2,386 1,028 228 48 1,155 3,640 485 
Ahafo864 425 143 22 269 2,425 213 
Akyem680 261 120 10 284 990 66 
Other Africa— — — 2 (11)3 — 
Africa1,544 686 263 34 542 3,418 279 
NGM2,291 960 550 30 818 7,584 234 
Nevada
2,291 960 550 30 818 7,584 234 
Corporate and Other— — 20 118 (841)7,415 28 
Consolidated$12,222 $5,435 $2,323 $363 $1,108 $40,564 $1,693 
____________________________
(1)Includes accrued costs associated with the Tanami Expansion of $29, which are included in Lease and other financing obligations, and an increase in accrued capital expenditures of $11. Consolidated capital expenditures on a cash basis were $1,653.
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures(1)
Year Ended December 31, 2020
CC&V$478 $245 $80 $15 $129 $755 $41 
Red Lake (2)
67 45 2 1 20 — 4 
Musselwhite180 117 62 7 (40)1,324 58 
Porcupine566 244 109 17 171 1,565 43 
Éléonore371 181 109 5 47 1,115 43 
Peñasquito:
Gold894 286 168 
Silver510 201 117 
Lead134 77 45 
Zinc348 221 121 
Total Peñasquito1,886 785 451 3 544 6,824 127 
Other North America— — 27 8 (88)100 2 
North America
3,548 1,617 840 56 783 11,683 318 
Yanacocha593 345 123 12 (165)1,832 111 
Merian822 328 102 11 375 993 42 
Cerro Negro404 166 139 4 8 2,139 49 
Other South America— — 7 31 (57)2,736 2 
South America
1,819 839 371 58 161 7,700 204 
Boddington:
Gold1,221 579 102 
Copper155 107 19 
Total Boddington1,376 686 121 3 526 2,238 160 
Tanami871 251 102 16 442 1,095 212 
Other Australia— — 7 16 448 59 8 
Australia2,247 937 230 35 1,416 3,392 380 
Ahafo853 375 145 22 278 2,224 120 
Akyem671 234 120 9 291 1,000 27 
Other Africa— — — 3 (12)3 — 
Africa1,524 609 265 34 557 3,227 147 
NGM2,359 1,012 579 42 700 7,753 241 
Nevada2,359 1,012 579 42 700 7,753 241 
Corporate and Other— — 15 84 (474)7,614 49 
Consolidated$11,497 $5,014 $2,300 $309 $3,143 $41,369 $1,339 
____________________________
(1)Includes an increase in accrued capital expenditures of $37; consolidated capital expenditures on a cash basis were $1,302.
(2)On March 31, 2020, the Company sold Red Lake. Refer to Note 10 for additional information.
SalesCosts Applicable to SalesDepreciation and AmortizationAdvanced Projects, Research and Development and ExplorationIncome (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures(1)
Year Ended December 31, 2019
CC&V$445 $290 $95 $13 $39 $770 $35 
Red Lake (2)(3)
159 136 50 7 (47)589 29 
Musselwhite (2)(4)
7 13 28 7 (6)1,301 60 
Porcupine (2)
338 185 66 14 58 1,859 61 
Éléonore (2)
378 214 80 8 65 1,323 55 
Peñasquito: (2)
Gold209 116 43 
Silver253 181 66 
Lead85 77 29 
Zinc143 129 55 
Total Peñasquito690 503 193 6 (58)7,038 128 
Other North America— — 22 5 (161)4 8 
North America2,017 1,341 534 60 (110)12,884 376 
Yanacocha735 400 113 24 83 1,803 185 
Merian734 297 93 11 331 990 56 
Cerro Negro (2)
502 210 111 22 132 2,213 55 
Other South America— — 12 40 (67)2,809 1 
South America1,971 907 329 97 479 7,815 297 
Boddington:
Gold999 575 106 
Copper166 117 22 
Total Boddington1,165 692 128 3 330 2,148 78 
Tanami697 266 96 12 314 966 124 
Kalgoorlie (3)
319 216 27 6 67 434 34 
Other Australia— — 7 24 (32)62 10 
Australia2,181 1,174 258 45 679 3,610 246 
Ahafo880 393 160 33 295 2,057 213 
Akyem585 235 150 14 176 993 33 
Other Africa— — — 6 (16)3 — 
Africa1,465 628 310 53 455 3,053 246 
NGM (5)
1,022 494 298 22 203 8,096 138 
Carlin (6)
533 358 107 15 46 — 64 
Phoenix: (6)
Gold151 116 33 
Copper44 28 9 
Total Phoenix195 144 42 1 29 — 13 
Twin Creeks (6)
230 113 31 5 89 — 30 
Long Canyon (6)
126 36 36 12 40 — 7 
Other Nevada (6)
— — 2 8 (9)— 5 
Nevada2,106 1,145 516 63 398 8,096 257 
Corporate and Other— — 13 97 1,792 4,516 32 
Consolidated$9,740 $5,195 $1,960 $415 $3,693 $39,974 $1,454 
____________________________
(1)Includes a decrease in accrued capital expenditures of $9; consolidated capital expenditures on a cash basis were $1,463.
(2)Sites acquired as part of the Newmont Goldcorp transaction, effective April 18, 2019.
(3)On January 2, 2020, the Company sold its 50% interest in Kalgoorlie and on March 31, 2020, the Company sold Red Lake. There were no operating results at Kalgoorlie for the year ended December 31, 2020. The assets and liabilities of these sites were classified as held for sale on the Consolidated Balance Sheet as of December 31, 2019. Refer to Note 10 for additional information.
(4)Costs applicable to sales are partially offset by insurance recoveries received during 2019. Refer to Note 11 for additional information.
(5)For the year ended December 31, 2019, the Company billed NGM $213 for services provided under the employee lease agreement. The leasing period expired on December 31, 2019.
(6)Newmont contributed its existing Nevada mining operations in exchange for a 38.5% interest in NGM, effective July 1, 2019. Amounts include sales of finished goods inventory retained and not contributed to NGM on the effective date, pursuant to the Nevada JV Agreement.
Long-lived Assets, excluding deferred tax assets, investments and restricted cash, by country
Long-lived assets, which primarily consist of Property, plant and mine development, net and non-current Stockpiles and ore on leach pads, were as follows:
At December 31,
20212020
United States$7,462 $7,631 
Mexico4,795 5,032 
Canada4,031 3,557 
Australia3,258 2,923 
Ghana2,517 2,468 
Peru1,680 2,148 
Argentina1,526 1,562 
Suriname742 762 
$26,011 $26,083 
v3.22.0.1
SALES (Tables)
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Schedule of sales by mining operation, product and inventory type
The following tables present the Company’s Sales by mining operation, product and inventory type:
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Year Ended December 31, 2021
CC&V$382 $14 $396 
Musselwhite 277 — 277 
Porcupine 517 — 517 
Éléonore 446 — 446 
Peñasquito:
Gold207 1,043 1,250 
Silver (1)
— 651 651 
Lead— 172 172 
Zinc— 561 561 
Total Peñasquito207 2,427 2,634 
North America1,829 2,441 4,270 
Yanacocha451 20 471 
Merian780 — 780 
Cerro Negro 480 — 480 
South America1,711 20 1,731 
Boddington:
Gold311 901 1,212 
Copper— 295 295 
Total Boddington311 1,196 1,507 
Tanami879 — 879 
Australia1,190 1,196 2,386 
Ahafo864 — 864 
Akyem680 — 680 
Africa1,544 — 1,544 
NGM (2)
2,216 75 2,291 
Nevada2,216 75 2,291 
Consolidated$8,490 $3,732 $12,222 
____________________________
(1)Silver sales from concentrate includes $79 related to non-cash amortization of the silver streaming agreement liability.
(2)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $2,212 for the year ended December 31, 2021.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Year Ended December 31, 2020
CC&V $478 $— $478 
Red Lake (1)
67 — 67 
Musselwhite180 — 180 
Porcupine566 — 566 
Éléonore371 — 371 
Peñasquito:
Gold84 810 894 
Silver (2)
— 510 510 
Lead— 134 134 
Zinc— 348 348 
Total Peñasquito84 1,802 1,886 
North America1,746 1,802 3,548 
Yanacocha592 1 593 
Merian822 — 822 
Cerro Negro404 — 404 
South America1,818 1 1,819 
Boddington:
Gold290 931 1,221 
Copper— 155 155 
Total Boddington290 1,086 1,376 
Tanami871 — 871 
Australia1,161 1,086 2,247 
Ahafo853 — 853 
Akyem671 — 671 
Africa1,524 — 1,524 
NGM (3)
2,285 74 2,359 
Nevada2,285 74 2,359 
Consolidated$8,534 $2,963 $11,497 
____________________________
(1)On March 31, 2020, the Company sold Red Lake. Refer to Note 10 for additional information.
(2)Silver sales from concentrate includes $67 related to non-cash amortization of the silver streaming agreement liability.
(3)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $2,293 for the year ended December 31, 2020.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Year Ended December 31, 2019
CC&V$445 $— $445 
Red Lake (1)
159 — 159 
Musselwhite (1)
7 — 7 
Porcupine (1)
338 — 338 
Éléonore (1)
378 — 378 
Peñasquito: (1)
Gold17 192 209 
Silver (2)
— 253 253 
Lead— 85 85 
Zinc— 143 143 
Total Peñasquito17 673 690 
North America1,344 673 2,017 
Yanacocha735 — 735 
Merian734 — 734 
Cerro Negro (1)
502 — 502 
South America1,971 — 1,971 
Boddington:
Gold238 761 999 
Copper— 166 166 
Total Boddington238 927 1,165 
Tanami697 — 697 
Kalgoorlie (3)
319 — 319 
Australia1,254 927 2,181 
Ahafo880 — 880 
Akyem585 — 585 
Africa1,465 — 1,465 
NGM1,000 22 1,022 
Carlin (4)
533 — 533 
Phoenix: (4)
Gold52 99 151 
Copper— 44 44 
Total Phoenix52 143 195 
Twin Creeks (4)
230 — 230 
Long Canyon (4)
126 — 126 
Nevada (5)
1,941 165 2,106 
Consolidated$7,975 $1,765 $9,740 
____________________________
(1)Sites acquired as part of the Newmont Goldcorp transaction, effective April 18, 2019.
(2)Silver sales from concentrate includes $37 related to non-cash amortization of the silver streaming agreement liability.
(3)On January 2, 2020, the Company sold its 50% interest in Kalgoorlie. There were no operating results at Kalgoorlie for the years ended December 31, 2021 and 2020. Refer to Note 10 for additional information.
(4)Newmont contributed its existing Nevada mining operations in exchange for a 38.5% interest in NGM, effective July 1, 2019.
(5)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $1,002 for the year ended December 31, 2019.
At December 31, 2021, Newmont had the following provisionally priced concentrate sales subject to final pricing over the next several months:
Provisionally Priced Sales
Subject to Final Pricing		Average Provisional
Price (per ounce/pound)
Gold (ounces/thousands) 171 $1,807 
Copper (pounds/millions)25 $4.39 
Silver (ounces/millions)5$23.09 
Lead (pounds/millions)22$1.06 
Zinc (pounds/millions)58$1.62 
Schedule of receivables included within Trade Receivables
The following table details the receivables included within Trade receivables:
At December 31,
2021		At December 31,
2020
Receivables from Sales:
Gold sales from doré production$40 $59 
Sales from concentrate and other production297 390 
Total receivables from Sales$337 $449 
Revenues from sales based on the customer's location Revenues from sales attributed to countries based on the customer’s location were as follows:
Years Ended December 31,
202120202019
United Kingdom$8,404 $8,489 $7,980 
South Korea1,665 1,317 538 
Mexico642 277 190 
Japan386 244 172 
Germany282 277 203 
Switzerland275 243 120 
Philippines264 242 293 
United States62 97 78 
Other (1)
242 311 166 
$12,222 $11,497 $9,740 
____________________________
(1)Other includes $79, $67, and $37 related to non-cash amortization of the Silver streaming agreement liability for the years ended December 31, 2021, 2020, and 2019, respectively.
v3.22.0.1
RECLAMATION AND REMEDIATION (Tables)
 12 Months Ended
Dec. 31, 2021
Environmental Remediation Obligations [Abstract]  
Reclamation and remediation expense
The Company’s Reclamation and remediation expense consisted of:
Years Ended December 31,
202120202019
Reclamation adjustments and other$1,633 $180 $77 
Reclamation accretion125 134 133 
Total reclamation expense1,758 314 210 
Remediation adjustments and other82 46 65 
Remediation accretion6 6 5 
Total remediation expense88 52 70 
$1,846 $366 $280 
Reconciliation of reclamation liabilities
The following are reconciliations of Reclamation and remediation liabilities:
ReclamationRemediationTotal
Balance at January 1, 2020$3,334 $299 $3,633 
Additions, changes in estimates and other312 33 345 
Adjustment from the Newmont Goldcorp transaction15 — 15 
Payments, net(76)(25)(101)
Accretion expense134 6 140 
Balance at December 31, 20203,719 313 4,032 
Additions, changes in estimates and other2,045 67 2,112 
Other acquisitions and divestitures(3)1 (2)
Payments, net(118)(43)(161)
Accretion expense125 6 131 
Balance at December 31, 2021 (1)
$5,768 $344 $6,112 
____________________________
(1)Total reclamation liabilities includes $3,250 related to Yanacocha.
At December 31,
20212020
ReclamationRemediationTotalReclamationRemediationTotal
Current (1)
$213 $60 $273 $164 $50 $214 
Non-current (2)
5,555 284 5,839 3,555 263 3,818 
Total$5,768 $344 $6,112 $3,719 $313 $4,032 
____________________________
(1)The current portion of reclamation and remediation liabilities are included in Other current liabilities. Refer to Note 23.
(2)The non-current portion of reclamation and remediation liabilities are included in Reclamation and remediation liabilities.
Reconciliation of remediation liabilities
The following are reconciliations of Reclamation and remediation liabilities:
ReclamationRemediationTotal
Balance at January 1, 2020$3,334 $299 $3,633 
Additions, changes in estimates and other312 33 345 
Adjustment from the Newmont Goldcorp transaction15 — 15 
Payments, net(76)(25)(101)
Accretion expense134 6 140 
Balance at December 31, 20203,719 313 4,032 
Additions, changes in estimates and other2,045 67 2,112 
Other acquisitions and divestitures(3)1 (2)
Payments, net(118)(43)(161)
Accretion expense125 6 131 
Balance at December 31, 2021 (1)
$5,768 $344 $6,112 
____________________________
(1)Total reclamation liabilities includes $3,250 related to Yanacocha.
At December 31,
20212020
ReclamationRemediationTotalReclamationRemediationTotal
Current (1)
$213 $60 $273 $164 $50 $214 
Non-current (2)
5,555 284 5,839 3,555 263 3,818 
Total$5,768 $344 $6,112 $3,719 $313 $4,032 
____________________________
(1)The current portion of reclamation and remediation liabilities are included in Other current liabilities. Refer to Note 23.
(2)The non-current portion of reclamation and remediation liabilities are included in Reclamation and remediation liabilities.
v3.22.0.1
CARE AND MAINTENANCE (Tables) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Other Income and Expenses [Abstract]      
Care and maintenance The following table includes direct operating costs incurred and reported as Care and maintenance:
Year Ended December 31,
202120202019
Tanami$8 $— $— 
Musselwhite— 28 — 
Éléonore— 26 — 
Peñasquito— 38 — 
Yanacocha— 27 — 
Cerro Negro— 56 — 
Other South America— 3 — 
$8 $178 $— 
    
Care and maintenance (Note 7) $ 8 $ 178 $ 0
v3.22.0.1
OTHER EXPENSE, NET (Tables)
 12 Months Ended
Dec. 31, 2021
Operating Costs and Expenses [Abstract]  
Schedule of other expense, net
Year Ended December 31,
202120202019
COVID-19 specific costs$87 $92 $— 
Impairment of long-lived and other assets25 49 5 
Settlement costs11 58 5 
Restructuring and severance11 18 7 
Goldcorp transaction and integration costs— 23 217 
Nevada JV transaction and implementation costs— — 30 
Other26 15 36 
$160 $255 $300 
v3.22.0.1
GAIN ON ASSET AND INVESTMENT SALES, NET (Tables)
 12 Months Ended
Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of gain on asset and investment sales, net
Year Ended December 31,
202120202019
Sale of Kalgoorlie$83 $493 $— 
Exchange of Lone Tree79 — — 
Sale of TMAC42 — — 
Sale of Continental— 91 — 
Sale of royalty interests— 75 — 
Sale of Red Lake— 9 — 
Gain on formation of MARA— 6 — 
Other8 3 30 
$212 $677 $30 
v3.22.0.1
OTHER INCOME (LOSS), NET (Tables)
 12 Months Ended
Dec. 31, 2021
Other Income, Nonoperating [Abstract]  
Schedule of other income, net
Year Ended December 31,
202120202019
Change in fair value of investments$(135)$252 $166 
Foreign currency exchange, net23 (73)(7)
Interest18 24 57 
Charges from debt extinguishment(11)(77)— 
Pension settlements and curtailments(4)(92)20 
Impairment of investments(1)(93)(2)
Insurance proceeds— — 38 
Other23 27 25 
$(87)$(32)$297 
v3.22.0.1
INCOME AND MINING TAXES (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Income and mining tax (expense) benefit - current vs deferred
The Company’s Income and mining tax benefit (expense) consisted of:
Year Ended December 31,
202120202019
Current:
United States$(71)$(35)$2 
Foreign(1,136)(891)(500)
(1,207)(926)(498)
Deferred:
United States5 72 (340)
Foreign104 150 6 
109 222 (334)
$(1,098)$(704)$(832)
Income and mining tax (expense) benefit - domestic vs foreign
The Company’s Income (loss) before income and mining tax and other items consisted of:
Year Ended December 31,
202120202019
United States$247 $631 $2,396 
Foreign861 2,512 1,297 
$1,108 $3,143 $3,693 
Income and mining tax expense reconciliation
The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
Years Ended December 31,
202120202019
Income (loss) before income and mining tax and other items$1,108 $3,143 $3,693 
U.S. Federal statutory tax rate21 %$(233)21 %$(660)21 %$(776)
Reconciling items:
Percentage depletion(7)71 (2)77 (1)55 
Change in valuation allowance on deferred tax assets38 (419)6 (186)(8)296 
Rate differential for foreign earnings indefinitely reinvested10 (108)8 (268)4 (140)
Mining and other taxes (net of associated federal benefit)15 (173)5 (151)2 (90)
Uncertain tax position reserve adjustment9 (99)(1)21 2 (70)
Tax impact on sale of Kalgoorlie— — (11)353 — — 
Expiration of U.S. Capital Losses14 (152)— — 1 (34)
Other(1)15 (4)110 2 (73)
Income and mining tax benefit (expense)99 %$(1,098)22 %$(704)23 %$(832)
Components of deferred tax assets (liabilities)
Components of the Company's deferred income tax assets (liabilities) are as follows:
At December 31,
20212020
Deferred income tax assets:
Property, plant and mine development$928 $996 
Inventory87 62 
Reclamation and remediation1,500 892 
Net operating losses, capital losses and tax credits 1,908 1,843 
Investment in partnerships and subsidiaries 26 340 
Employee-related benefits146 162 
Derivative instruments and unrealized loss on investments74 25 
Foreign Exchange and Financing Obligations62 82 
Silver Streaming Agreement311 349 
Other124 112 
5,166 4,863 
Valuation allowances(3,791)(3,418)
$1,375 $1,445 
Deferred income tax liabilities:
Property, plant and mine development$(2,409)$(2,303)
Inventory(58)(110)
Derivative instruments and unrealized gain on investments(730)(726)
Other(53)(42)
(3,250)(3,181)
Net deferred income tax assets (liabilities)$(1,875)$(1,736)
Reconciliation of gross unrecognized tax benefits
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, exclusive of interest and penalties, is as follows:
202120202019
Total amount of gross unrecognized tax benefits at beginning of year$237 $326 $43 
Additions due to acquisition of Goldcorp— — 350 
Additions (reductions) for tax positions of prior years 36 (33)1 
Additions for tax positions of current year — 4 34 
Reductions due to settlements with taxing authorities (26)(58)(102)
Reductions due to lapse of statute of limitations (2)(2)— 
Total amount of gross unrecognized tax benefits at end of year$245 $237 $326 
v3.22.0.1
EMPLOYEE-RELATED BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Schedule of current and long-term employee-related benefits
At December 31,
20212020
Current:
Accrued payroll and withholding taxes $339 $334 
Peruvian workers’ participation and other bonuses1823
Other post-retirement benefit plans 66
Employee pension benefits 45
Accrued severance 24
Other employee-related payables 178
$386 $380 
Non-current:
Accrued severance$278 $252 
Other post-retirement benefit plans 7884
Employee pension benefits 45 126 
Other employee-related payables 3831
$439 $493 
Schedule of reconciliation of changes in the obligations and fair value of pension and other benefits
The following tables provide a reconciliation of changes in the plans’ benefit obligations and assets’ fair values for 2021 and 2020:
Pension BenefitsOther Benefits
2021202020212020
Change in benefit obligation:
Benefit obligation at beginning of year$1,117 $1,267 $90 $86 
Service cost15 17 1 1 
Interest cost30 36 3 3 
Actuarial loss (gain)(32)105 (6)4 
Settlement payments(13)(267)— — 
Foreign currency exchange (gain) loss— 1 — — 
Benefits paid(77)(42)(4)(4)
Projected benefit obligation at end of year$1,040 $1,117 $84 $90 
Accumulated benefit obligation$1,017 $1,095 $84 $90 
Change in fair value of assets:
Fair value of assets at beginning of year$986 $1,145 $— $— 
Actual return on plan assets77 106 — — 
Employer contributions41 43 4 4 
Foreign currency exchange (gain) loss— 1 — — 
Settlement payments(13)(267)— — 
Benefits paid(77)(42)(4)(4)
Fair value of assets at end of year$1,014 $986 $— $— 
(Unfunded) funded status, net:$(26)$(131)$(84)$(90)
Amounts recognized in the Consolidated Balance Sheets:
Other non-current assets$23 $— $— $— 
Employee-related benefits, current(4)(5)(6)(6)
Employee-related benefits, non-current(45)(126)(78)(84)
Net amounts recognized$(26)$(131)$(84)$(90)
Schedule of net pension and other employee benefit amounts recognized in the consolidated balance sheets
The following table provides the net pension and other benefits amounts recognized in Accumulated other comprehensive income (loss) at December 31:
Pension BenefitsOther Benefits
2021202020212020
Accumulated other comprehensive income (loss):
Net actuarial gain (loss)$(240)$(328)$11 $6 
Prior service credit17 24 2 4 
(223)(304)13 10 
Less: Income taxes46 59 (2)(2)
$(177)$(245)$11 $8 
Schedule of components of the net periodic pension and other benefits costs
The following table provides components of the Total benefit cost (credit), inclusive of the net periodic pension and other benefits costs (credits), for the years ended December 31:
Pension Benefit Costs (Credits)Other Benefit Costs (Credits)
202120202019202120202019
Pension benefit costs (credits), net (1);
Service cost $15 $17 $31 $1 $1 $1 
Interest cost 30 36 47 3 3 4 
Expected return on plan assets (59)(61)(66)— — — 
Amortization, net29 29 22 (2)(1)(8)
Net periodic benefit cost (credit)$15 $21 $34 $2 $3 $(3)
Settlement cost4 92 — — — — 
(Gain) loss on curtailment— — (10)— — (18)
Restructuring (benefit) loss— — 8 — — — 
Total benefit cost (credit)$19 $113 $32 $2 $3 $(21)
____________________________
(1)Service costs are included in Costs applicable to sales or General and administrative and the other components of benefit costs are included in Other income (loss), net.
Schedule of components recognized in Other comprehensive income (loss)
The following table provides the components recognized in Other comprehensive income (loss) for the years ended December 31:
Pension BenefitsOther Benefits
202120202019202120202019
Net loss (gain) (1)
$(48)$60 $2 $(5)$4 $8 
Amortization, net(29)(29)(22)2 1 8 
Accelerated prior service credit (cost) due to curtailment— — 12 — — 11 
Settlements(4)(92)— — — — 
Total recognized in other comprehensive income (loss)$(81)$(61)$(8)$(3)$5 $27 
Total benefit cost (credit) and other comprehensive income (loss)$(62)$52 $24 $(1)$8 $6 
____________________________
(1)Includes curtailment gain of $—, $— and $(13) for the years ended December 31, 2021, 2020 and 2019, respectively.
Schedule of significant assumptions used in measuring the benefit obligation and net periodic pension benefit cost
The significant assumptions used in measuring the Company’s Total benefit cost (credit) and other comprehensive income (loss) were discount rate and expected return on plan assets:
Pension BenefitsOther Benefits
Years Ended December 31,Years Ended December 31,
202120202019202120202019
Weighted average assumptions used in measuring the net periodic benefit cost:
Discount rate 2.77 %3.49 %4.40 %2.70 %3.49 %4.40 %
Expected return on plan assets 6.75 %6.75 %6.75 %N/AN/AN/A
Schedule of target and actual asset allocations The following is a summary of the target asset allocations for 2021 and the actual asset allocation at December 31, 2021.
Asset AllocationTargetActual at December 31,
2021
U.S. equity investments 11 %12 %
International equity investments 12 %12 %
World equity fund (U.S. and International equity investments)20 %20 %
High yield fixed income investments4 %4 %
Fixed income investments 45 %43 %
Cash equivalents— %— %
Other8 %9 %
Schedule of plan assets at fair value
The following table sets forth the Company’s pension plan assets measured at fair value at December 31, 2021 and 2020:
Fair Value at December 31,
20212020
Cash and cash equivalents $4 $5 
Commingled funds 1,010 981 
$1,014 $986 
Defined benefit plan, plan with accumulated benefit obligation in excess of plan assets The following table provides information for the Company's defined benefit pensions plans that had aggregate accumulated benefit obligations in excess of plan assets at December 31:
Pension Benefits (1)
20212020
Accumulated benefit obligation$43 $1,095 
Projected benefit obligation50 1,117 
Fair value of plan assets1 986 
____________________________
(1)Information for other benefit plans with an accumulated benefit obligations in excess of plan assets has not be included as all of the other benefit plans are unfunded.
v3.22.0.1
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of status and activity of non-vested RSUs, PSUs, and SSUs
A summary of the status and activity of non-vested RSUs and PSUs for the year ended December 31, 2021 is as follows:
RSUPSU
Number of UnitsWeighted Average Grant-Date Fair ValueNumber of UnitsWeighted Average Grant-Date Fair Value
Non-vested at beginning of year2,173,371$42.22 1,387,281$49.16 
Granted982,952$57.60 437,481$63.68 
Vested(1,177,826)$40.08 (364,975)$44.00 
Forfeited(186,503)$51.86 (115,834)$56.26 
Non-vested at end of year1,791,994$51.06 1,343,953$55.91 
Schedule of stock based compensation by award
The Company recognized stock-based compensation as follows:
Year Ended December 31,
202120202019
Stock-based compensation:
Restricted stock units$47 $51 $68 
Performance leveraged stock units25 21 29 
Other (1)
— 12 24 
$72 $84 $121 
____________________________
(1)Other includes Goldcorp phantom restricted share units and Goldcorp performance share units. These awards have a cash settlement provision. The Company recognizes the liability and expense for these awards ratably over the requisite service period giving effect to the adjusted fair value at the end of each reporting period.
Assumptions Using a Monte Carlo Valuation Model The grant date fair value of the market conditions for each PSU granted in 2021, 2020 or 2019 was determined using a Monte Carlo valuation model, which requires the input of the following subjective assumptions:
Year Ended December 31,
202120202019
Risk-free interest rate0.22%1.21%2.46%
Volatility range
31.41% - 76.72%
24.71% - 43.91%
33.50% - 58.40%
Weighted-average volatility53.05%35.38%44.49%
Expected term (years)333
Weighted-average fair market value$65.41$59.24$41.14
v3.22.0.1
FAIR VALUE ACCOUNTING (Tables)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Assets and liabilities measured at fair value on a recurring basis The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring (at least annually) and nonrecurring basis by level within the fair value hierarchy. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
Fair Value at December 31, 2021
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents $4,992 $4,992 $— $— 
Restricted cash101 101 — — 
Trade receivable from provisional concentrate sales, net 297 — 297 — 
Assets held for sale (Note 8)
68 — 68 — 
Marketable and other equity securities (Note 16) (1)
397 318 17 62 
Restricted marketable debt securities (Note 16)
35 28 7 — 
Restricted other assets (Note 16)
16 16 — — 
Contingent consideration assets171 — — 171 
$6,077 $5,455 $389 $233 
Liabilities:
Debt (2)
$6,712 $— $6,712 $— 
Contingent consideration liabilities5 — — 5 
Other6 — 6 — 
$6,723 $— $6,718 $5 
Fair Value at December 31, 2020
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents$5,540 $5,540 $— $— 
Restricted cash108 108 — — 
Trade receivable from provisional concentrate sales, net 
379 — 379 — 
Marketable and other equity securities (Note 16) (1)
682 604 25 53 
Restricted marketable debt securities (Note 16)
38 24 14 — 
Contingent consideration assets119 — — 119 
$6,866 $6,276 $418 $172 
Liabilities:
Debt (2)
$7,586 $— $7,586 $— 
Other11 — 11 — 
$7,597 $— $7,597 $— 
____________________________
(1)Marketable and other equity securities classified as Level 2 includes warrants reported in the Maverix equity method investment balance of $8 and $14 at December 31, 2021 and December 31, 2020, respectively.
(2)Debt is carried at amortized cost. The outstanding carrying value was $5,652 and $6,031 at December 31, 2021 and December 31, 2020, respectively. The fair value measurement of debt was based on an independent third-party pricing source.
Quantitative and qualitative information
The following tables set forth a summary of the quantitative and qualitative information related to the significant observable and unobservable inputs used in the calculation of the Company’s Level 3 financial assets and liabilities at December 31, 2021 and December 31, 2020:
DescriptionAt December 31, 2021Valuation techniqueSignificant inputRange, point estimate or average
Equity securities$62 Discounted cash flowDiscount rate9.50%
Long-term gold price$1,500
Long-term copper price$3.00
Contingent consideration assets$171 Discounted cash flow
Discount rate (1)
4.48 - 5.88
%
Contingent consideration liabilities$5 Discounted cash flow
Discount rate (1)
2.48 - 3.35
%
____________________________
(1)The weighted average discount rates used to calculate the Company’s contingent consideration assets and liabilities are 5.63% and 2.83%, respectively. Various other inputs including, but not limited to, metal prices and production profiles were considered in determining the fair value of the individual contingent consideration assets.
DescriptionAt December 31, 2020Valuation techniqueSignificant inputRange, point estimate or average
Marketable and other equity securities$53 Discounted cash flowDiscount rate9.50%
Long-term gold price$1,500
Long-term copper price$3.00
Contingent consideration assets$119 Discounted cash flow
Discount rate (1)
4.53 - 9.19
%
____________________________
(1)The weighted average discount rate used to calculate the Company’s contingent consideration assets is 7.63%. Various other inputs including, but not limited to, metal prices, production profiles and new mineralization discoveries were considered in determining the fair value of the individual contingent consideration assets.
Changes in the fair value of the Company's Level 3 financial assets
The following tables set forth a summary of changes in the fair value of the Company’s recurring Level 3 financial assets and liabilities:
Continental convertible debt(1)
Contingent consideration assets(2)
Total assetsHolt royalty obligationContingent consideration liabilitiesTotal liabilities
Fair value at December 31, 2019$39 $38 $77 $257 $— $257 
Additions and settlements— 39 39 (8)— (8)
Revaluation1 42 43 (249)— (249)
Sales(40)$— (40)$— $— $— 
Fair value at December 31, 2020$— $119 $119 $— $— $— 
Additions and settlements— — — — — — 
Revaluation— 52 52 — 5 5 
Fair value at December 31, 2021$— $171 $171 $— $5 $5 
____________________________
(1)In March 2020, the Company completed the sale of its interest in Continental, which included an unrestricted convertible debenture. The gain recognized on the revaluation completed prior to the sale is included in Other comprehensive income (loss). The gain recognized on sale is included in Gain on asset and investment sales, net.
(2)In 2020, additions of $39 relate to contingent consideration assets received from the sale of Red Lake. See Note 10 for additional information. The gain (loss) recognized on revaluation in 2021 of $3 and $49 are included in Other income (loss), net and Net income (loss) from discontinued operations, respectively.
Changes in the fair value of the Company's Level 3 financial liabilities
The following tables set forth a summary of changes in the fair value of the Company’s recurring Level 3 financial assets and liabilities:
Continental convertible debt(1)
Contingent consideration assets(2)
Total assetsHolt royalty obligationContingent consideration liabilitiesTotal liabilities
Fair value at December 31, 2019$39 $38 $77 $257 $— $257 
Additions and settlements— 39 39 (8)— (8)
Revaluation1 42 43 (249)— (249)
Sales(40)$— (40)$— $— $— 
Fair value at December 31, 2020$— $119 $119 $— $— $— 
Additions and settlements— — — — — — 
Revaluation— 52 52 — 5 5 
Fair value at December 31, 2021$— $171 $171 $— $5 $5 
____________________________
(1)In March 2020, the Company completed the sale of its interest in Continental, which included an unrestricted convertible debenture. The gain recognized on the revaluation completed prior to the sale is included in Other comprehensive income (loss). The gain recognized on sale is included in Gain on asset and investment sales, net.
(2)In 2020, additions of $39 relate to contingent consideration assets received from the sale of Red Lake. See Note 10 for additional information. The gain (loss) recognized on revaluation in 2021 of $3 and $49 are included in Other income (loss), net and Net income (loss) from discontinued operations, respectively.
v3.22.0.1
INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of investments
At December 31,
20212020
Current: 
Marketable equity securities$82 $290 
Non-current: 
Marketable and other equity securities$307 $378 
Equity method investments: 
Pueblo Viejo Mine (40.0%)
$1,320 $1,202 
NuevaUnión Project (50.0%)
950 949 
Norte Abierto Project (50.0%)
505 493 
Maverix Metals Inc. (28.6%)
160 160 
TMAC Resources, Inc. (—%)
— 13 
Other1 2 
2,936 2,819 
$3,243 $3,197 
Non-current restricted investments: (1)
Marketable debt securities$35 $38 
Other assets16 — 
$51 $38 
____________________________
(1)Non-current restricted investments are legally pledged for purposes of settling reclamation and remediation obligations and are included in Other non-current assets. For further information regarding these amounts, see Note 6.
v3.22.0.1
INVENTORIES (Tables)
 12 Months Ended
Dec. 31, 2021
Inventory Disclosure [Abstract]  
Summary of inventories
At December 31,
20212020
Materials and supplies$669 $673 
In-process132 148 
Concentrate (1)
58 39 
Precious metals (2)
71 103 
$930 $963 
____________________________
(1)Concentrate includes gold, copper, silver, lead and zinc.
(2)Precious metals includes gold and silver doré.
v3.22.0.1
STOCKPILES AND ORE ON LEACH PADS (Tables)
 12 Months Ended
Dec. 31, 2021
STOCKPILES AND ORE ON LEACH PADS  
Stockpiles and ore on leach pads
At December 31,
20212020
Current:
Stockpiles$491 $514 
Ore on leach pads366 313 
$857 $827 
Non-current:
Stockpiles$1,442 $1,446 
Ore on leach pads333 259 
$1,775 $1,705 
Total:
Stockpiles$1,933 $1,960 
Ore on leach pads699 572 
$2,632 $2,532 
v3.22.0.1
PROPERTY, PLANT AND MINE DEVELOPMENT (Tables)
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Property, plant and mine development
Depreciable
Life
(in years)		At December 31, 2021At December 31, 2020
CostAccumulated
Depreciation		Net Book
Value		CostAccumulated
Depreciation		Net Book
Value
Land $260 $— $260 $259 $— $259 
Facilities and equipment (1)
1-23
18,829 (10,487)8,342 18,346 (9,628)8,718 
Mine development 
1-23
5,419 (3,133)2,286 4,429 (2,608)1,821 
Mineral interests 
1-23
13,296 (2,369)10,927 12,673 (1,664)11,009 
Construction-in-progress 2,309 — 2,309 2,474 — 2,474 
$40,113 $(15,989)$24,124 $38,181 $(13,900)$24,281 
____________________________
(1)At December 31, 2021 and 2020, Facilities and equipment include finance lease right of use assets of $619 and $666, respectively.
Depreciable
Life
(in years)		At December 31, 2021At December 31, 2020
Mineral InterestsCostAccumulated
Depreciation		Net Book
Value		CostAccumulated
Depreciation		Net Book
Value
Production stage 
1-23
$8,712 $(2,369)$6,343 $8,324 $(1,664)$6,660 
Development stage 
(1)
1,000 — 1,000 1,106 — 1,106 
Exploration stage 
(1)
3,584 — 3,584 3,243 — 3,243 
$13,296 $(2,369)$10,927 $12,673 $(1,664)$11,009 
____________________________
(1)These amounts are currently non-depreciable as these mineral interests have not reached production stage.
v3.22.0.1
GOODWILL (Tables)
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of goodwill by segment
Changes in the carrying amount of goodwill by reportable segment were as follows:
North AmericaSouth AmericaAustraliaNevadaTotal
Balance at December 31, 2019$1,964 $442 $— $268 $2,674 
Additions due to Newmont Goldcorp transaction (1)
80 17 — — 97 
Balance at December 31, 2020$2,044 $459 $— $268 $2,771 
Balance at December 31, 2021$2,044 $459 $— $268 $2,771 
____________________________
(1)For further information regarding the Newmont Goldcorp transaction, refer to Note 3.
v3.22.0.1
DEBT (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of debt components, current and non-current
At December 31, 2021At December 31, 2020
CurrentNon-Current
Fair Value (1)
CurrentNon-Current
Fair Value (1)
$550 3.625% Senior Notes due June 2021
$— $— $— $551 $— $556 
$1,500 3.50% Senior Notes due March 2022
— — — — 491 512 
$1,000 3.70% Senior Notes due March 2023
87 — 90 — 418 441 
$700 2.80% Senior Notes due October 2029
— 689 726 — 689 770 
$1,000 2.25% Senior Notes due October 2030
— 985 994 — 984 1,060 
$1,000 2.60% Senior Notes due July 2032
— 990 1,003 — — — 
$600 5.875% Senior Notes due April 2035
— 578 790 — 576 886 
$1,100 6.25% Senior Notes due October 2039
— 860 1,237 — 859 1,344 
$1,000 4.875% Senior Notes due March 2042
— 986 1,270 — 985 1,375 
$450 5.45% Senior Notes due June 2044
— 482 602 — 482 642 
Debt issuance costs on Corporate Revolving Credit Facilities— (5)— — (4)— 
$87 $5,565 $6,712 $551 $5,480 $7,586 
____________________________
(1)The estimated fair value of these Senior Notes was determined by an independent third party pricing source and may or may not reflect the actual trading value of this debt.
Schedule of minimum debt repayments
Scheduled minimum debt repayments are as follows:
Year Ending December 31,
2022$— 
202387 
2024— 
2025— 
2026— 
Thereafter5,624 
$5,711 
v3.22.0.1
LEASE AND OTHER FINANCING OBLIGATIONS (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Schedule of lease cost
Total lease cost includes the following components:
Year Ended December 31,
20212020
Operating lease cost$21 $21 
Finance lease cost
Amortization of ROU assets85 88 
Interest on lease liabilities36 37 
121 125 
Variable lease cost393 335 
Short-term lease cost36 24 
$571 $505 
Supplemental cash flow information
Supplemental cash flow information related to leases includes the following:
Year Ended December 31,
20212020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows relating to operating leases$17 $18 
Operating cash flows relating to finance leases$36 $31 
Financing cash flows relating to finance leases$73 $66 
Non-cash lease obligations arising from obtaining ROU assets:
Operating leases$35 $76 
Finance leases$41 $16 
Schedule of lease terms and discount rates
Information related to lease terms and discount rates is as follows:
Operating LeasesFinance Leases
Weighted average remaining lease term (years)910
Weighted average discount rate4.90 %5.45 %
Future minimum lease payments, operating leases
Future minimum lease payments under non-cancellable leases as of December 31, 2021, were as follows:
Operating Leases(1)
Finance Leases(2)
2022$27 $100 
202322 91 
202420 83 
202512 82 
202611 76 
Thereafter59 403 
Total future minimum lease payments151 835 
Less: Imputed interest(23)(217)
Total$128 $618 
____________________________
(1)The current and non-current portion of operating lease liabilities are included in Other current liabilities and Other non-current liabilities, respectively, on the Consolidated Balance Sheets.
(2)Future minimum lease payments for finance leases exclude payments for built-to-suit leases with commencement dates in the future. The Company has recognized $32 in Leases and other financing obligations at December 31, 2021 related to built-to-suit.
Future minimum lease payments, finance leases
Future minimum lease payments under non-cancellable leases as of December 31, 2021, were as follows:
Operating Leases(1)
Finance Leases(2)
2022$27 $100 
202322 91 
202420 83 
202512 82 
202611 76 
Thereafter59 403 
Total future minimum lease payments151 835 
Less: Imputed interest(23)(217)
Total$128 $618 
____________________________
(1)The current and non-current portion of operating lease liabilities are included in Other current liabilities and Other non-current liabilities, respectively, on the Consolidated Balance Sheets.
(2)Future minimum lease payments for finance leases exclude payments for built-to-suit leases with commencement dates in the future. The Company has recognized $32 in Leases and other financing obligations at December 31, 2021 related to built-to-suit.
v3.22.0.1
OTHER LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2021
Other Liabilities Disclosure [Abstract]  
Other liabilities
At December 31,
20212020
Other current liabilities:
Reclamation and remediation liabilities$273 $214 
Accrued operating costs201 285 
Accrued capital expenditures155 144 
Payables to NGM (1)
114 94 
Other (2)
430 445 
$1,173 $1,182 
Other non-current liabilities:
Income and mining taxes (3)
$328 $382 
Other (4)
280 317 
$608 $699 
____________________________
(1)Payables to NGM at December 31, 2021 and December 31, 2020 consist of amounts due to (from) NGM representing Barrick's 61.5% proportionate share of the amount owed to NGM for gold and silver purchased by Newmont and CC&V toll milling provided by NGM. Newmont’s 38.5% share of such amounts is eliminated upon proportionate consolidation of its interest in NGM. The CC&V toll milling agreement with NGM expires on December 31, 2022. Receivables for Newmont's 38.5% proportionate share related to NGM's activities with Barrick are presented within Other current assets.
(2)Other, included in Other current liabilities, primarily includes royalties, the current portion of the silver streaming agreement liability, accrued interest, taxes other than income and mining, the current portion of the Norte Abierto deferred payments and the Conga assets contract liability.
(3)Income and mining taxes at December 31, 2021 and December 31, 2020 includes unrecognized tax benefits, including penalties and interest, of $319 and $367, respectively.
(4)Other, included in Other non-current liabilities, primarily includes the non-current portion of the Norte Abierto deferred payments, the Galore Creek deferred payments and social development and community obligations.
v3.22.0.1
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​ (Tables)
 12 Months Ended
Dec. 31, 2021
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Change in accumulated other comprehensive income (loss)
Unrealized Gain (Loss) on Marketable Debt SecuritiesForeign Currency Translation AdjustmentsPension and Other Post-retirement Benefit AdjustmentsUnrealized Gain (Loss) on Cash flow Hedge InstrumentsTotal
Balance at December 31, 2019$5 $119 $(281)$(108)$(265)
Net current-period other comprehensive income (loss):
Gain (loss) in other comprehensive income (loss) before reclassifications
— (2)(51)(4)(57)
(Gain) loss reclassified from accumulated other comprehensive income (loss)
(5)— 95 16 106 
Other comprehensive income (loss)(5)(2)44 12 49 
Balance at December 31, 2020$— $117 $(237)$(96)$(216)
Net current-period other comprehensive income (loss):
Gain (loss) in other comprehensive income (loss) before reclassifications
2 2 45 1 50 
(Gain) loss reclassified from accumulated other comprehensive income (loss)
— — 26 7 33 
Other comprehensive income (loss)2 2 71 8 83 
Balance at December 31, 2021$2 $119 $(166)$(88)$(133)
Schedule of reclassifications out of accumulated other comprehensive income (loss)
Details about Accumulated Other Comprehensive Income (Loss) ComponentsAmount Reclassified from Accumulated Other Comprehensive Income (Loss)Affected Line Item in the Consolidated Statements of Operations
Year Ended December 31,
202120202019
Marketable debt securities adjustments:
Sale of marketable securities$— $(5)$— Gain on asset and investment sales, net
Total before tax— (5)— 
Tax— — — 
Net of tax$— $(5)$— 
Pension and other post-retirement benefit adjustments:
Amortization$27 $28 $14 Other income (loss), net
Curtailment— — (23)Other income (loss), net
Settlement4 92 — Other income (loss), net
Total before tax31 120 (9)
Tax(5)(25)— 
Net of tax$26 $95 $(9)
Hedge instruments adjustments:
Interest rate contracts$8 $17 $11 
Interest expense, net (1)
Operating cash flow hedges1 2 3 Costs applicable to sales
Total before tax9 19 14 
Tax(2)(3)(2)
Net of tax$7 $16 $12 
Total reclassifications for the period, net of tax$33 $106 $3 
____________________________
(1)Interest rate contracts relate to swaps entered into, and subsequently settled, associated with the issuance of the 2022 Senior Notes, 2035 Senior Notes, 2039 Senior Notes, and 2042 Senior Notes. The related gains and losses are reclassified from Accumulated Other Comprehensive Income (Loss) and amortized to Interest expense, net over the term of the respective hedged notes. During the years ended December 31, 2021 and December 31, 2020, $1 and $(8), respectively, was reclassified to Other income (loss), net as a result of the redemption and tender offers of the 2022 Senior Notes. See Note 21 for additional information.
v3.22.0.1
NET CHANGE IN OPERATING ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2021
Increase (Decrease) in Operating Capital [Abstract]  
Net change in operating assets and liabilities
Net cash provided by (used in) operating activities of continuing operations attributable to the net change in operating assets and liabilities is composed of the following:
Year Ended December 31,
202120202019
Decrease (increase) in operating assets:
Trade and other receivables $142 $29 $(193)
Inventories, stockpiles and ore on leach pads (136)(139)(132)
Other assets 36 34 29 
Increase (decrease) in operating liabilities:
Accounts payable(11)(50)144 
Reclamation and remediation liabilities (161)(101)(102)
Accrued tax liabilities(317)378 47 
Other accrued liabilities(94)144 (102)
$(541)$295 $(309)
v3.22.0.1
THE COMPANY (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
May 31, 2021
Apr. 18, 2019
Feb. 24, 2022
Aug. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Oct. 14, 2021
Apr. 30, 2020
Jul. 01, 2019
Business Acquisition [Line Items]                      
Gain on formation of Nevada Gold Mines (Note 1)         $ 0 $ 0 $ 2,390        
Acquisitions, net [1]         328 0 (127)        
Net income (loss) attributable to noncontrolling interest         933 38 (79)        
Net income (loss) from discontinued operations (Note 1)         57 163 (72)        
Income tax benefit (expense)         (10) (44) 19        
Distributions to noncontrolling interests         200 197 186        
Holt Property Royalty [Member]                      
Business Acquisition [Line Items]                      
Accrued Royalties         0            
Royalties received         $ 13            
Royalty paid           (8) (10)        
Use rights | Holt option                      
Business Acquisition [Line Items]                      
Purchase of option for mining and mineral rights       $ 75              
Minera Yanacocha                      
Business Acquisition [Line Items]                      
Economic interest (as a percent)         51.35%            
Net income (loss) attributable to noncontrolling interest         $ (1,014) (128) (1)        
Primary Beneficiary | Merian                      
Business Acquisition [Line Items]                      
Ownership interest held by parent (as a percent)         75.00%            
Net income (loss) attributable to noncontrolling interest         $ (81) (90) (78)        
Disposed of by sale, not discontinued operations                      
Business Acquisition [Line Items]                      
Gain on sale         212 677 30        
Disposed of by sale, not discontinued operations | Lone Tree                      
Business Acquisition [Line Items]                      
Gain on sale         79 0 0        
Disposed of by sale, not discontinued operations | Minera La Zanja                      
Business Acquisition [Line Items]                      
Equity method investments         0            
Discontinued operations disposed of by sale                      
Business Acquisition [Line Items]                      
Net income (loss) from discontinued operations (Note 1)         $ 57 $ 163 $ (72)        
Subsequent event | Minera Yanacocha                      
Business Acquisition [Line Items]                      
Economic interest (as a percent)     95.00%                
Subsequent event | Minera Yanacocha | Buenaventura                      
Business Acquisition [Line Items]                      
Distributions to noncontrolling interests     $ 300                
Purchase of noncontrolling interest, contingent consideration     $ 100                
Subsequent event | Disposed of by sale, not discontinued operations | Minera La Zanja                      
Business Acquisition [Line Items]                      
Equity method investment, ownership percentage sold     46.94%                
Contribution paid upon sale of equity method investment     $ 45                
Buenaventura | Subsequent event | Minera Yanacocha                      
Business Acquisition [Line Items]                      
Noncontrolling interest, ownership percentage by noncontrolling owners (as a percent)     43.65%                
Minera Yanacocha                      
Business Acquisition [Line Items]                      
Total shares repurchased (as a percent)               5.00%      
Minera Yanacocha | Summit Global Management II V B                      
Business Acquisition [Line Items]                      
Proceeds from sale of stock               $ 48      
South Arturo | NGM                      
Business Acquisition [Line Items]                      
Business combination, step acquisition, equity interest in acquiree, percentage                     38.50%
Business acquisition, percentage of voting interests acquired                 0.40%    
Maximum contingent consideration                 $ 50    
Goldcorp                      
Business Acquisition [Line Items]                      
Business combination, step acquisition, equity interest in acquiree, percentage           14.90%          
Business acquisition, percentage of voting interests acquired 85.10%       85.10%            
Acquisitions, net $ 326                    
Business combination, consideration transferred, including equity interest in acquiree held prior to combination 378                    
Newmont stock issued (285 million shares at $33.04 per share) 52 $ 9,423                  
Property, plant and mine development 590                 $ 11,054  
Deferred income tax liabilities $ 211                 1,430  
Total transaction value   $ 9,456                  
Equity method investments                   $ 2,796  
[1] Acquisitions, net for the year ended December 31, 2021 is primarily related to the asset acquisition of the remaining 85.1% of GT Gold Corporation (“GT Gold”). Refer to Note 1 for additional information. For the year ended December 31, 2019, Acquisitions, net is comprised of $117 cash and cash equivalents acquired, $21 restricted cash acquired, net of $17 cash paid in the Newmont Goldcorp transaction and $6 of restricted cash acquired in the formation of Nevada Gold Mines.
v3.22.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Risks and Uncertainties (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Risks and Uncertainties      
Assets received $ 40,564 $ 41,369 $ 39,974
Conga      
Risks and Uncertainties      
Assets received $ 900 $ 1,517  
v3.22.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stockpiles and Ore on Leach Pads (Details)
 12 Months Ended
Dec. 31, 2021
Minimum  
Stockpiles, Ore on Leach Pads and Inventories  
Leach pad recovery rate 50.00%
Maximum  
Stockpiles, Ore on Leach Pads and Inventories  
Leach pad recovery rate 95.00%
v3.22.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Leases (Details)
Dec. 31, 2021
Dec. 31, 2020
Accounting Policies [Abstract]    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other non-current assets Other non-current assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Other Liabilities, Current Other Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other non-current liabilities (Note 23) Other non-current liabilities (Note 23)
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] Current lease and other financing obligations (Note 22) Current lease and other financing obligations (Note 22)
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Lease and other financing obligations (Note 22) Lease and other financing obligations (Note 22)
v3.22.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Equity (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Apr. 11, 2019
Apr. 10, 2019
Accounting Policies [Abstract]          
Common stock, authorized (in shares) 1,280,000,000 1,280,000,000   1,280,000,000 750,000,000
Repurchase of common stock $ 525 $ 521 $ 479    
Withholding of employee taxes related to stock-based compensation (in shares) 600,000 1,000,000.0 1,400,000    
Repurchase and retirement of common stock (in shares) 9,000,000 10,000,000 12,000,000    
v3.22.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details)
 12 Months Ended
Dec. 31, 2021
Revenue recognition  
Dore' market standard for percentage of gold (as a percent) 99.95%
Minimum  
Revenue recognition  
Co-product accounting, percent of metal mined as a percent of the life of mine sales value (as a percent) 10.00%
Product accounting, percent of metal mined as a percent of the life of mine sales value (as a percent) 10.00%
Maximum  
Revenue recognition  
Co-product accounting, percent of metal mined as a percent of the life of mine sales value (as a percent) 20.00%
Product accounting, percent of metal mined as a percent of the life of mine sales value (as a percent) 20.00%
v3.22.0.1
BUSINESS ACQUISITION - Fair Value of Consideration Transferred (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
May 31, 2021
Apr. 18, 2019
Dec. 31, 2019
Business Combination, Consideration Transferred [Abstract]      
Cash paid to Goldcorp shareholders     $ 17
Goldcorp      
Business Combination, Consideration Transferred [Abstract]      
Newmont stock issued (285 million shares at $33.04 per share) $ 52 $ 9,423  
Cash paid to Goldcorp shareholders   17  
Other non-cash consideration   16  
Total consideration   $ 9,456  
Stock issued (in shares)   285  
Stock issued, price per share (in dollars per share)   $ 33.04  
v3.22.0.1
BUSINESS ACQUISITION - Purchase Price Allocation (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2020
Dec. 31, 2021
May 31, 2021
Dec. 31, 2020
Apr. 30, 2020
Dec. 31, 2019
Assets:            
Investments   $ 82   $ 290    
Goodwill   2,771   2,771   $ 2,674
Liabilities:            
Silver streaming agreement   910   993    
Debt, fair value   6,712   7,586    
Red Lake            
Liabilities:            
Goodwill disposed $ 47          
North America            
Assets:            
Goodwill   2,044   2,044   1,964
North America | Red Lake            
Liabilities:            
Goodwill transferred to other reporting units $ 84          
South America            
Assets:            
Goodwill   $ 459   $ 459   $ 442
Goldcorp            
Assets:            
Cash and cash equivalents         $ 117  
Trade receivables         95  
Investments         169  
Equity method investments         2,796  
Inventories         500  
Stockpiles and ore on leach pads         57  
Property, plant and mine development     $ 590   11,054  
Goodwill         2,550  
Deferred income tax assets         206  
Other assets         508  
Total assets         18,052  
Liabilities:            
Debt         3,304  
Accounts payable         240  
Employee-related benefits         190  
Income and mining taxes payable         20  
Lease and other financing obligations         423  
Reclamation and remediation liabilities         897  
Deferred income tax liabilities     $ 211   1,430  
Silver streaming agreement         1,165  
Other liabilities         927  
Total liabilities         8,596  
Net assets acquired         9,456  
Debt, fair value         1,250  
Uncertain income tax benefits, and interest and penalties from acquisition         450  
Goldcorp | North America            
Assets:            
Goodwill         2,091  
Goldcorp | South America            
Assets:            
Goodwill         $ 459  
v3.22.0.1
BUSINESS ACQUISITION - Pro-forma information (Details) - Goldcorp
$ in Millions
 12 Months Ended
Dec. 31, 2019
USD ($)
Business Acquisition, Pro Forma Information [Abstract]  
Sales $ 10,468
Net income (loss) 2,666
Proforma transaction and integration costs $ 260
v3.22.0.1
SEGMENT INFORMATION - Financial Information Table (Details)
$ in Millions
 12 Months Ended
Jan. 02, 2020
Dec. 31, 2021
USD ($)
segment
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Jul. 01, 2019
Segment Information          
Number of operating segments | segment   5      
Number of reportable segments | segment   5      
Sales   $ 12,222 $ 11,497 $ 9,740  
Costs Applicable to Sales [1]   5,435 5,014 5,195  
Depreciation and amortization   2,323 2,300 1,960  
Advanced Projects, Research and Development and Exploration   363 309 415  
Income(Loss) before Income and Mining Tax and Other Items   1,108 3,143 3,693  
Total Assets   40,564 41,369 39,974  
Capital Expenditures   1,693 1,339 1,454  
Additional disclosures          
Increase (decrease) in accrued capital expenditures   (11) (37) (9)  
Consolidated capital expenditures on a cash basis   1,653 1,302 1,463  
South Arturo | NGM          
Additional disclosures          
Business combination, step acquisition, equity interest in acquiree, percentage         38.50%
NGM | Joint venture          
Additional disclosures          
Services under employee lease agreement       213  
Disposed of by sale, not discontinued operations | Kalgoorlie          
Additional disclosures          
Percentage interest sold (as a percent) 50.00%        
Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   5,435 5,014 5,195  
Tanami          
Additional disclosures          
Accrued costs   29      
Corporate and Other          
Segment Information          
Sales   0 0 0  
Depreciation and amortization   20 15 13  
Advanced Projects, Research and Development and Exploration   118 84 97  
Income(Loss) before Income and Mining Tax and Other Items   (841) (474) 1,792  
Total Assets   7,415 7,614 4,516  
Capital Expenditures   28 49 32  
Corporate and Other | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   0 0 0  
North America | Operating Segments          
Segment Information          
Sales   4,270 3,548 2,017  
Depreciation and amortization   911 840 534  
Advanced Projects, Research and Development and Exploration   60 56 60  
Income(Loss) before Income and Mining Tax and Other Items   1,222 783 (110)  
Total Assets   11,355 11,683 12,884  
Capital Expenditures   339 318 376  
North America | Operating Segments | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   1,960 1,617 1,341  
North America | Operating Segments | CC&V          
Segment Information          
Sales   396 478 445  
Depreciation and amortization   66 80 95  
Advanced Projects, Research and Development and Exploration   18 15 13  
Income(Loss) before Income and Mining Tax and Other Items   64 129 39  
Total Assets   777 755 770  
Capital Expenditures   42 41 35  
North America | Operating Segments | CC&V | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   238 245 290  
North America | Operating Segments | Red Lake          
Segment Information          
Sales     67 159  
Depreciation and amortization     2 50  
Advanced Projects, Research and Development and Exploration     1 7  
Income(Loss) before Income and Mining Tax and Other Items     20 (47)  
Total Assets     0 589  
Capital Expenditures     4 29  
North America | Operating Segments | Red Lake | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales     45 136  
North America | Operating Segments | Musselwhite          
Segment Information          
Sales   277 180 7  
Depreciation and amortization   80 62 28  
Advanced Projects, Research and Development and Exploration   7 7 7  
Income(Loss) before Income and Mining Tax and Other Items   30 (40) (6)  
Total Assets   1,317 1,324 1,301  
Capital Expenditures   39 58 60  
North America | Operating Segments | Musselwhite | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   157 117 13  
North America | Operating Segments | Porcupine          
Segment Information          
Sales   517 566 338  
Depreciation and amortization   91 109 66  
Advanced Projects, Research and Development and Exploration   17 17 14  
Income(Loss) before Income and Mining Tax and Other Items   121 171 58  
Total Assets   1,572 1,565 1,859  
Capital Expenditures   68 43 61  
North America | Operating Segments | Porcupine | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   269 244 185  
North America | Operating Segments | Éléonore          
Segment Information          
Sales   446 371 378  
Depreciation and amortization   139 109 80  
Advanced Projects, Research and Development and Exploration   5 5 8  
Income(Loss) before Income and Mining Tax and Other Items   60 47 65  
Total Assets   1,062 1,115 1,323  
Capital Expenditures   46 43 55  
North America | Operating Segments | Éléonore | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   237 181 214  
North America | Operating Segments | Peñasquito          
Segment Information          
Sales   2,634 1,886 690  
Depreciation and amortization   521 451 193  
Advanced Projects, Research and Development and Exploration   8 3 6  
Income(Loss) before Income and Mining Tax and Other Items   979 544 (58)  
Total Assets   6,561 6,824 7,038  
Capital Expenditures   144 127 128  
North America | Operating Segments | Peñasquito | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   1,059 785 503  
North America | Operating Segments | Penasquito - Gold          
Segment Information          
Sales   1,250 894 209  
Depreciation and amortization   201 168 43  
North America | Operating Segments | Penasquito - Gold | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   395 286 116  
North America | Operating Segments | Penasquito - Silver          
Segment Information          
Sales   651 510 253  
Depreciation and amortization   169 117 66  
North America | Operating Segments | Penasquito - Silver | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   332 201 181  
North America | Operating Segments | Penasquito - Lead          
Segment Information          
Sales   172 134 85  
Depreciation and amortization   39 45 29  
North America | Operating Segments | Penasquito - Lead | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   76 77 77  
North America | Operating Segments | Penasquito - Zinc          
Segment Information          
Sales   561 348 143  
Depreciation and amortization   112 121 55  
North America | Operating Segments | Penasquito - Zinc | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   256 221 129  
North America | Operating Segments | Other North America          
Segment Information          
Sales   0 0 0  
Depreciation and amortization   14 27 22  
Advanced Projects, Research and Development and Exploration   5 8 5  
Income(Loss) before Income and Mining Tax and Other Items   (32) (88) (161)  
Total Assets   66 100 4  
Capital Expenditures   0 2 8  
North America | Operating Segments | Other North America | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   0 0 0  
South America | Operating Segments          
Segment Information          
Sales   1,731 1,819 1,971  
Depreciation and amortization   351 371 329  
Advanced Projects, Research and Development and Exploration   73 58 97  
Income(Loss) before Income and Mining Tax and Other Items   (1,788) 161 479  
Total Assets   7,152 7,700 7,815  
Capital Expenditures   328 204 297  
South America | Operating Segments | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   801 839 907  
South America | Operating Segments | Yanacocha          
Segment Information          
Sales   471 593 735  
Depreciation and amortization   111 123 113  
Advanced Projects, Research and Development and Exploration   18 12 24  
Income(Loss) before Income and Mining Tax and Other Items   (1,552) (165) 83  
Total Assets   1,735 1,832 1,803  
Capital Expenditures   171 111 185  
South America | Operating Segments | Yanacocha | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   232 345 400  
South America | Operating Segments | Merian          
Segment Information          
Sales   780 822 734  
Depreciation and amortization   98 102 93  
Advanced Projects, Research and Development and Exploration   11 11 11  
Income(Loss) before Income and Mining Tax and Other Items   328 375 331  
Total Assets   952 993 990  
Capital Expenditures   47 42 56  
South America | Operating Segments | Merian | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   326 328 297  
South America | Operating Segments | Cerro Negro          
Segment Information          
Sales   480 404 502  
Depreciation and amortization   137 139 111  
Advanced Projects, Research and Development and Exploration   9 4 22  
Income(Loss) before Income and Mining Tax and Other Items   68 8 132  
Total Assets   2,183 2,139 2,213  
Capital Expenditures   108 49 55  
South America | Operating Segments | Cerro Negro | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   243 166 210  
South America | Operating Segments | Other South America          
Segment Information          
Sales   0 0 0  
Depreciation and amortization   5 7 12  
Advanced Projects, Research and Development and Exploration   35 31 40  
Income(Loss) before Income and Mining Tax and Other Items   (632) (57) (67)  
Total Assets   2,282 2,736 2,809  
Capital Expenditures   2 2 1  
South America | Operating Segments | Other South America | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   0 0 0  
Australia | Operating Segments          
Segment Information          
Sales   2,386 2,247 2,181  
Depreciation and amortization   228 230 258  
Advanced Projects, Research and Development and Exploration   48 35 45  
Income(Loss) before Income and Mining Tax and Other Items   1,155 1,416 679  
Total Assets   3,640 3,392 3,610  
Capital Expenditures   485 380 246  
Australia | Operating Segments | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   1,028 937 1,174  
Australia | Operating Segments | Boddington          
Segment Information          
Sales   1,507 1,376 1,165  
Depreciation and amortization   122 121 128  
Advanced Projects, Research and Development and Exploration   8 3 3  
Income(Loss) before Income and Mining Tax and Other Items   627 526 330  
Total Assets   2,261 2,238 2,148  
Capital Expenditures   174 160 78  
Australia | Operating Segments | Boddington | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   750 686 692  
Australia | Operating Segments | Boddington - Gold          
Segment Information          
Sales   1,212 1,221 999  
Depreciation and amortization   99 102 106  
Australia | Operating Segments | Boddington - Gold | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   607 579 575  
Australia | Operating Segments | Boddington - Copper          
Segment Information          
Sales   295 155 166  
Depreciation and amortization   23 19 22  
Australia | Operating Segments | Boddington - Copper | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   143 107 117  
Australia | Operating Segments | Tanami          
Segment Information          
Sales   879 871 697  
Depreciation and amortization   100 102 96  
Advanced Projects, Research and Development and Exploration   24 16 12  
Income(Loss) before Income and Mining Tax and Other Items   466 442 314  
Total Assets   1,334 1,095 966  
Capital Expenditures   304 212 124  
Australia | Operating Segments | Tanami | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   278 251 266  
Australia | Operating Segments | Kalgoorlie          
Segment Information          
Sales       319  
Depreciation and amortization       27  
Advanced Projects, Research and Development and Exploration       6  
Income(Loss) before Income and Mining Tax and Other Items       67  
Total Assets       434  
Capital Expenditures       34  
Australia | Operating Segments | Kalgoorlie | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales       216  
Australia | Operating Segments | Other Australia          
Segment Information          
Sales   0 0 0  
Depreciation and amortization   6 7 7  
Advanced Projects, Research and Development and Exploration   16 16 24  
Income(Loss) before Income and Mining Tax and Other Items   62 448 (32)  
Total Assets   45 59 62  
Capital Expenditures   7 8 10  
Australia | Operating Segments | Other Australia | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   0 0 0  
Africa | Operating Segments          
Segment Information          
Sales   1,544 1,524 1,465  
Depreciation and amortization   263 265 310  
Advanced Projects, Research and Development and Exploration   34 34 53  
Income(Loss) before Income and Mining Tax and Other Items   542 557 455  
Total Assets   3,418 3,227 3,053  
Capital Expenditures   279 147 246  
Africa | Operating Segments | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   686 609 628  
Africa | Operating Segments | Ahafo          
Segment Information          
Sales   864 853 880  
Depreciation and amortization   143 145 160  
Advanced Projects, Research and Development and Exploration   22 22 33  
Income(Loss) before Income and Mining Tax and Other Items   269 278 295  
Total Assets   2,425 2,224 2,057  
Capital Expenditures   213 120 213  
Africa | Operating Segments | Ahafo | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   425 375 393  
Africa | Operating Segments | Akyem          
Segment Information          
Sales   680 671 585  
Depreciation and amortization   120 120 150  
Advanced Projects, Research and Development and Exploration   10 9 14  
Income(Loss) before Income and Mining Tax and Other Items   284 291 176  
Total Assets   990 1,000 993  
Capital Expenditures   66 27 33  
Africa | Operating Segments | Akyem | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   261 234 235  
Africa | Operating Segments | Other Africa          
Segment Information          
Sales   0 0 0  
Depreciation and amortization   0 0 0  
Advanced Projects, Research and Development and Exploration   2 3 6  
Income(Loss) before Income and Mining Tax and Other Items   (11) (12) (16)  
Total Assets   3 3 3  
Capital Expenditures   0 0 0  
Africa | Operating Segments | Other Africa | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   0 0 0  
Nevada | Operating Segments          
Segment Information          
Sales   2,291 2,359 2,106  
Depreciation and amortization   550 579 516  
Advanced Projects, Research and Development and Exploration   30 42 63  
Income(Loss) before Income and Mining Tax and Other Items   818 700 398  
Total Assets   7,584 7,753 8,096  
Capital Expenditures   234 241 257  
Nevada | Operating Segments | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   960 1,012 1,145  
Nevada | Operating Segments | Nevada Gold Mines          
Segment Information          
Sales   2,291 2,359 1,022  
Depreciation and amortization   550 579 298  
Advanced Projects, Research and Development and Exploration   30 42 22  
Income(Loss) before Income and Mining Tax and Other Items   818 700 203  
Total Assets   7,584 7,753 8,096  
Capital Expenditures   234 241 138  
Nevada | Operating Segments | Nevada Gold Mines | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales   $ 960 $ 1,012 494  
Nevada | Operating Segments | Carlin          
Segment Information          
Sales       533  
Depreciation and amortization       107  
Advanced Projects, Research and Development and Exploration       15  
Income(Loss) before Income and Mining Tax and Other Items       46  
Total Assets       0  
Capital Expenditures       64  
Nevada | Operating Segments | Carlin | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales       358  
Nevada | Operating Segments | Phoenix          
Segment Information          
Sales       195  
Depreciation and amortization       42  
Advanced Projects, Research and Development and Exploration       1  
Income(Loss) before Income and Mining Tax and Other Items       29  
Total Assets       0  
Capital Expenditures       13  
Nevada | Operating Segments | Phoenix | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales       144  
Nevada | Operating Segments | Phoenix - Gold          
Segment Information          
Sales       151  
Depreciation and amortization       33  
Nevada | Operating Segments | Phoenix - Gold | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales       116  
Nevada | Operating Segments | Phoenix - Copper          
Segment Information          
Sales       44  
Depreciation and amortization       9  
Nevada | Operating Segments | Phoenix - Copper | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales       28  
Nevada | Operating Segments | Twin Creeks          
Segment Information          
Sales       230  
Depreciation and amortization       31  
Advanced Projects, Research and Development and Exploration       5  
Income(Loss) before Income and Mining Tax and Other Items       89  
Total Assets       0  
Capital Expenditures       30  
Nevada | Operating Segments | Twin Creeks | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales       113  
Nevada | Operating Segments | Long Canyon          
Segment Information          
Sales       126  
Depreciation and amortization       36  
Advanced Projects, Research and Development and Exploration       12  
Income(Loss) before Income and Mining Tax and Other Items       40  
Total Assets       0  
Capital Expenditures       7  
Nevada | Operating Segments | Long Canyon | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales       36  
Nevada | Operating Segments | Other Nevada          
Segment Information          
Sales       0  
Depreciation and amortization       2  
Advanced Projects, Research and Development and Exploration       8  
Income(Loss) before Income and Mining Tax and Other Items       (9)  
Total Assets       0  
Capital Expenditures       5  
Nevada | Operating Segments | Other Nevada | Costs applicable to sales, excluding Depreciation, Exploration and Remediation Expense          
Segment Information          
Costs Applicable to Sales       $ 0  
[1] Excludes Depreciation and amortization and Reclamation and remediation.
v3.22.0.1
SEGMENT INFORMATION - Long-lived Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Segment Information    
Long-lived assets $ 26,011 $ 26,083
United States    
Segment Information    
Long-lived assets 7,462 7,631
Mexico    
Segment Information    
Long-lived assets 4,795 5,032
Canada    
Segment Information    
Long-lived assets 4,031 3,557
Australia    
Segment Information    
Long-lived assets 3,258 2,923
Ghana    
Segment Information    
Long-lived assets 2,517 2,468
Argentina    
Segment Information    
Long-lived assets 1,526 1,562
Peru    
Segment Information    
Long-lived assets 1,680 2,148
Suriname    
Segment Information    
Long-lived assets $ 742 $ 762
v3.22.0.1
SALES - Disaggregation of revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 02, 2020
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Jul. 01, 2019
SALES          
Sales   $ 12,222 $ 11,497 $ 9,740  
South Arturo | NGM          
SALES          
Business combination, step acquisition, equity interest in acquiree, percentage         38.50%
Disposed of by sale, not discontinued operations | Kalgoorlie          
SALES          
Percentage interest sold (as a percent) 50.00%        
Gold sales from doré production          
SALES          
Sales   8,490 8,534 7,975  
Sales from concentrate and other production          
SALES          
Sales   3,732 2,963 1,765  
Operating Segments | North America          
SALES          
Sales   4,270 3,548 2,017  
Operating Segments | North America | Gold sales from doré production          
SALES          
Sales   1,829 1,746 1,344  
Operating Segments | North America | Sales from concentrate and other production          
SALES          
Sales   2,441 1,802 673  
Operating Segments | North America | CC&V          
SALES          
Sales   396 478 445  
Operating Segments | North America | CC&V | Gold sales from doré production          
SALES          
Sales   382 478 445  
Operating Segments | North America | CC&V | Sales from concentrate and other production          
SALES          
Sales   14 0 0  
Operating Segments | North America | Red Lake          
SALES          
Sales     67 159  
Operating Segments | North America | Red Lake | Gold sales from doré production          
SALES          
Sales     67 159  
Operating Segments | North America | Red Lake | Sales from concentrate and other production          
SALES          
Sales     0 0  
Operating Segments | North America | Musselwhite          
SALES          
Sales   277 180 7  
Operating Segments | North America | Musselwhite | Gold sales from doré production          
SALES          
Sales   277 180 7  
Operating Segments | North America | Musselwhite | Sales from concentrate and other production          
SALES          
Sales   0 0 0  
Operating Segments | North America | Porcupine          
SALES          
Sales   517 566 338  
Operating Segments | North America | Porcupine | Gold sales from doré production          
SALES          
Sales   517 566 338  
Operating Segments | North America | Porcupine | Sales from concentrate and other production          
SALES          
Sales   0 0 0  
Operating Segments | North America | Éléonore          
SALES          
Sales   446 371 378  
Operating Segments | North America | Éléonore | Gold sales from doré production          
SALES          
Sales   446 371 378  
Operating Segments | North America | Éléonore | Sales from concentrate and other production          
SALES          
Sales   0 0 0  
Operating Segments | North America | Peñasquito          
SALES          
Sales   2,634 1,886 690  
Operating Segments | North America | Peñasquito | Gold sales from doré production          
SALES          
Sales   207 84 17  
Operating Segments | North America | Peñasquito | Sales from concentrate and other production          
SALES          
Sales   2,427 1,802 673  
Operating Segments | North America | Penasquito - Gold          
SALES          
Sales   1,250 894 209  
Operating Segments | North America | Penasquito - Gold | Gold sales from doré production          
SALES          
Sales   207 84 17  
Operating Segments | North America | Penasquito - Gold | Sales from concentrate and other production          
SALES          
Sales   1,043 810 192  
Operating Segments | North America | Penasquito - Silver          
SALES          
Sales   651 510 253  
Operating Segments | North America | Penasquito - Silver | Gold sales from doré production          
SALES          
Sales   0 0 0  
Operating Segments | North America | Penasquito - Silver | Sales from concentrate and other production          
SALES          
Sales   651 510 253  
Operating Segments | North America | Penasquito - Silver | Silver streaming agreement          
SALES          
Sales   79 67 37  
Operating Segments | North America | Penasquito - Lead          
SALES          
Sales   172 134 85  
Operating Segments | North America | Penasquito - Lead | Gold sales from doré production          
SALES          
Sales   0 0 0  
Operating Segments | North America | Penasquito - Lead | Sales from concentrate and other production          
SALES          
Sales   172 134 85  
Operating Segments | North America | Penasquito - Zinc          
SALES          
Sales   561 348 143  
Operating Segments | North America | Penasquito - Zinc | Gold sales from doré production          
SALES          
Sales   0 0 0  
Operating Segments | North America | Penasquito - Zinc | Sales from concentrate and other production          
SALES          
Sales   561 348 143  
Operating Segments | South America          
SALES          
Sales   1,731 1,819 1,971  
Operating Segments | South America | Gold sales from doré production          
SALES          
Sales   1,711 1,818 1,971  
Operating Segments | South America | Sales from concentrate and other production          
SALES          
Sales   20 1 0  
Operating Segments | South America | Yanacocha          
SALES          
Sales   471 593 735  
Operating Segments | South America | Yanacocha | Gold sales from doré production          
SALES          
Sales   451 592 735  
Operating Segments | South America | Yanacocha | Sales from concentrate and other production          
SALES          
Sales   20 1 0  
Operating Segments | South America | Merian          
SALES          
Sales   780 822 734  
Operating Segments | South America | Merian | Gold sales from doré production          
SALES          
Sales   780 822 734  
Operating Segments | South America | Merian | Sales from concentrate and other production          
SALES          
Sales   0 0 0  
Operating Segments | South America | Cerro Negro          
SALES          
Sales   480 404 502  
Operating Segments | South America | Cerro Negro | Gold sales from doré production          
SALES          
Sales   480 404 502  
Operating Segments | South America | Cerro Negro | Sales from concentrate and other production          
SALES          
Sales   0 0 0  
Operating Segments | Australia          
SALES          
Sales   2,386 2,247 2,181  
Operating Segments | Australia | Gold sales from doré production          
SALES          
Sales   1,190 1,161 1,254  
Operating Segments | Australia | Sales from concentrate and other production          
SALES          
Sales   1,196 1,086 927  
Operating Segments | Australia | Boddington          
SALES          
Sales   1,507 1,376 1,165  
Operating Segments | Australia | Boddington | Gold sales from doré production          
SALES          
Sales   311 290 238  
Operating Segments | Australia | Boddington | Sales from concentrate and other production          
SALES          
Sales   1,196 1,086 927  
Operating Segments | Australia | Boddington - Gold          
SALES          
Sales   1,212 1,221 999  
Operating Segments | Australia | Boddington - Gold | Gold sales from doré production          
SALES          
Sales   311 290 238  
Operating Segments | Australia | Boddington - Gold | Sales from concentrate and other production          
SALES          
Sales   901 931 761  
Operating Segments | Australia | Boddington - Copper          
SALES          
Sales   295 155 166  
Operating Segments | Australia | Boddington - Copper | Gold sales from doré production          
SALES          
Sales   0 0 0  
Operating Segments | Australia | Boddington - Copper | Sales from concentrate and other production          
SALES          
Sales   295 155 166  
Operating Segments | Australia | Tanami          
SALES          
Sales   879 871 697  
Operating Segments | Australia | Tanami | Gold sales from doré production          
SALES          
Sales   879 871 697  
Operating Segments | Australia | Tanami | Sales from concentrate and other production          
SALES          
Sales   0 0 0  
Operating Segments | Australia | Kalgoorlie          
SALES          
Sales       319  
Operating Segments | Australia | Kalgoorlie | Gold sales from doré production          
SALES          
Sales       319  
Operating Segments | Australia | Kalgoorlie | Sales from concentrate and other production          
SALES          
Sales       0  
Operating Segments | Africa          
SALES          
Sales   1,544 1,524 1,465  
Operating Segments | Africa | Gold sales from doré production          
SALES          
Sales   1,544 1,524 1,465  
Operating Segments | Africa | Sales from concentrate and other production          
SALES          
Sales   0 0 0  
Operating Segments | Africa | Ahafo          
SALES          
Sales   864 853 880  
Operating Segments | Africa | Ahafo | Gold sales from doré production          
SALES          
Sales   864 853 880  
Operating Segments | Africa | Ahafo | Sales from concentrate and other production          
SALES          
Sales   0 0 0  
Operating Segments | Africa | Akyem          
SALES          
Sales   680 671 585  
Operating Segments | Africa | Akyem | Gold sales from doré production          
SALES          
Sales   680 671 585  
Operating Segments | Africa | Akyem | Sales from concentrate and other production          
SALES          
Sales   0 0 0  
Operating Segments | Nevada          
SALES          
Sales   2,291 2,359 2,106  
Operating Segments | Nevada | Gold sales from doré production          
SALES          
Sales   2,216 2,285 1,941  
Operating Segments | Nevada | Sales from concentrate and other production          
SALES          
Sales   75 74 165  
Operating Segments | Nevada | Nevada Gold Mines          
SALES          
Sales   2,291 2,359 1,022  
Operating Segments | Nevada | Nevada Gold Mines | Gold sales from doré production          
SALES          
Sales   2,216 2,285 1,000  
Operating Segments | Nevada | Nevada Gold Mines | Sales from concentrate and other production          
SALES          
Sales   75 74 22  
Operating Segments | Nevada | Carlin          
SALES          
Sales       533  
Operating Segments | Nevada | Carlin | Gold sales from doré production          
SALES          
Sales       533  
Operating Segments | Nevada | Carlin | Sales from concentrate and other production          
SALES          
Sales       0  
Operating Segments | Nevada | Phoenix          
SALES          
Sales       195  
Operating Segments | Nevada | Phoenix | Gold sales from doré production          
SALES          
Sales       52  
Operating Segments | Nevada | Phoenix | Sales from concentrate and other production          
SALES          
Sales       143  
Operating Segments | Nevada | Phoenix - Gold          
SALES          
Sales       151  
Operating Segments | Nevada | Phoenix - Gold | Gold sales from doré production          
SALES          
Sales       52  
Operating Segments | Nevada | Phoenix - Gold | Sales from concentrate and other production          
SALES          
Sales       99  
Operating Segments | Nevada | Phoenix - Copper          
SALES          
Sales       44  
Operating Segments | Nevada | Phoenix - Copper | Gold sales from doré production          
SALES          
Sales       0  
Operating Segments | Nevada | Phoenix - Copper | Sales from concentrate and other production          
SALES          
Sales       44  
Operating Segments | Nevada | Twin Creeks          
SALES          
Sales       230  
Operating Segments | Nevada | Twin Creeks | Gold sales from doré production          
SALES          
Sales       230  
Operating Segments | Nevada | Twin Creeks | Sales from concentrate and other production          
SALES          
Sales       0  
Operating Segments | Nevada | Long Canyon          
SALES          
Sales       126  
Operating Segments | Nevada | Long Canyon | Gold sales from doré production          
SALES          
Sales       126  
Operating Segments | Nevada | Long Canyon | Sales from concentrate and other production          
SALES          
Sales       0  
Eliminations | Nevada | Nevada Gold Mines          
SALES          
Sales   $ 2,212 $ 2,293 $ 1,002  
v3.22.0.1
SALES - Trade Receivables (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Receivables from Sales:    
Total receivables from Sales $ 337 $ 449
Gold sales from doré production    
Receivables from Sales:    
Total receivables from Sales 40 59
Sales from concentrate and other production    
Receivables from Sales:    
Total receivables from Sales $ 297 $ 390
v3.22.0.1
SALES - Provisional Sales (Details)
oz in Thousands, lb in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
oz
lb
$ / oz
$ / lb
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Disaggregation of Revenue [Line Items]      
Increase (decrease) to sales from revenue recognized due to changes in final pricing | $ $ 32 $ 80 $ 22
Gold      
Disaggregation of Revenue [Line Items]      
Sales subject to final pricing (in ounces or pounds) | oz 171    
Sales subject to final pricing (in dollars per ounce or pound) | $ / oz 1,807    
Copper      
Disaggregation of Revenue [Line Items]      
Sales subject to final pricing (in ounces or pounds) | oz 25,000    
Sales subject to final pricing (in dollars per ounce or pound) | $ / oz 4.39    
Silver      
Disaggregation of Revenue [Line Items]      
Sales subject to final pricing (in ounces or pounds) | lb 5    
Sales subject to final pricing (in dollars per ounce or pound) | $ / lb 23.09    
Lead      
Disaggregation of Revenue [Line Items]      
Sales subject to final pricing (in ounces or pounds) | lb 22    
Sales subject to final pricing (in dollars per ounce or pound) | $ / lb 1.06    
Zinc      
Disaggregation of Revenue [Line Items]      
Sales subject to final pricing (in ounces or pounds) | lb 58    
Sales subject to final pricing (in dollars per ounce or pound) | $ / lb 1.62    
v3.22.0.1
SALES - Silver Streaming Agreement (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Disaggregation of Revenue [Line Items]      
Streaming agreement, percentage of sales 25.00%    
Inflation adjustment (as a percent) 1.65%    
Sales $ 12,222 $ 11,497 $ 9,740
Liability related to streaming agreement 981 1,060  
Operating Segments | North America      
Disaggregation of Revenue [Line Items]      
Sales 4,270 3,548 2,017
Operating Segments | North America | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales 651 510 253
Operating Segments | Silver streaming agreement | North America | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales $ 79 $ 67 $ 37
v3.22.0.1
SALES - Revenues by Geographic Area (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Disaggregation of Revenue [Line Items]      
Sales $ 12,222 $ 11,497 $ 9,740
Operating Segments | North America      
Disaggregation of Revenue [Line Items]      
Sales 4,270 3,548 2,017
Operating Segments | North America | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales 651 510 253
Operating Segments | Silver streaming agreement | North America | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales 79 67 37
United Kingdom      
Disaggregation of Revenue [Line Items]      
Sales 8,404 8,489 7,980
South Korea      
Disaggregation of Revenue [Line Items]      
Sales 1,665 1,317 538
Mexico      
Disaggregation of Revenue [Line Items]      
Sales 642 277 190
Japan      
Disaggregation of Revenue [Line Items]      
Sales 386 244 172
Germany      
Disaggregation of Revenue [Line Items]      
Sales 282 277 203
Switzerland      
Disaggregation of Revenue [Line Items]      
Sales 275 243 120
Philippines      
Disaggregation of Revenue [Line Items]      
Sales 264 242 293
United States      
Disaggregation of Revenue [Line Items]      
Sales 62 97 78
Other      
Disaggregation of Revenue [Line Items]      
Sales $ 242 $ 311 $ 166
v3.22.0.1
SALES - Revenue by Major Customer (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Concentration Risk [Line Items]      
Sales $ 12,222 $ 11,497 $ 9,740
Sales Revenue, Product Line | JPMorgan Chase | Customers | Gold      
Concentration Risk [Line Items]      
Sales $ 2,002 $ 2,775 $ 1,780
Concentration risk percentage (as a percent) 17.00% 24.00% 18.00%
Sales Revenue, Product Line | Standard Chartered | Customers | Gold      
Concentration Risk [Line Items]      
Sales $ 4,634 $ 2,737 $ 2,907
Concentration risk percentage (as a percent) 38.00% 24.00% 30.00%
Sales Revenue, Product Line | Toronto Dominion Bank | Customers | Gold      
Concentration Risk [Line Items]      
Sales     $ 1,204
Concentration risk percentage (as a percent)     12.00%
v3.22.0.1
RECLAMATION AND REMEDIATION - Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Reclamation and remediation      
Reclamation accretion $ 125 $ 134  
Remediation accretion 6 6  
Reclamation and remediation expense [1] 5,435 5,014 $ 5,195
Reclamation and remediation      
Reclamation and remediation      
Reclamation adjustments and other 1,633 180 77
Reclamation accretion 125 134 133
Total reclamation expense 1,758 314 210
Remediation adjustments and other 82 46 65
Remediation accretion 6 6 5
Total remediation expense 88 52 70
Reclamation and remediation expense $ 1,846 $ 366 $ 280
[1] Excludes Depreciation and amortization and Reclamation and remediation.
v3.22.0.1
RECLAMATION AND REMEDIATION - Expense narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Minera Yanacocha      
Environmental Exit Cost [Line Items]      
Reclamation adjustments and other $ 1,554    
Yanacocha      
Environmental Exit Cost [Line Items]      
Reclamation adjustments and other   $ 152 $ 62
Porcupine      
Environmental Exit Cost [Line Items]      
Reclamation adjustments and other   16  
Mule Canyon Mine      
Environmental Exit Cost [Line Items]      
Reclamation adjustments and other     9
Northumberland Mine      
Environmental Exit Cost [Line Items]      
Reclamation adjustments and other     4
Midnite mine and Dawn mill sites      
Environmental Exit Cost [Line Items]      
Remediation adjustments and other     36
Con Mine      
Environmental Exit Cost [Line Items]      
Remediation adjustments and other   $ 27 $ 9
v3.22.0.1
RECLAMATION AND REMEDIATION - Reconciliation of Obligation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Reclamation    
Balance at beginning of period $ 3,719 $ 3,334
Additions, changes in estimates and other 2,045 312
Acquisitions and divesitures (3)  
Payments, net 118 76
Accretion expense 125 134
Balance at end of period 5,768 3,719
Reclamation    
Balance at beginning of period 313 299
Additions, changes in estimates and other 67 33
Acquisitions and divestitures 1  
Payments, net 43 25
Accretion expense 6 6
Balance at end of period 344 313
Total    
Balance at beginning of period 4,032 3,633
Additions, changes in estimates and other 2,112 345
Acquisitions and divestitures (2)  
Payments, net 161 101
Accretion expense 131 140
Balance at end of period 6,112 4,032
Minera Yanacocha    
Reclamation    
Balance at end of period $ 3,250  
Goldcorp    
Reclamation    
Acquisitions and divesitures   15
Reclamation    
Acquisitions and divestitures   0
Total    
Acquisitions and divestitures   $ 15
v3.22.0.1
RECLAMATION AND REMEDIATION - Liability Classifications (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Environmental Remediation Obligations [Abstract]      
Reclamation liabilities, current $ 213 $ 164  
Reclamation liabilities, non-current 5,555 3,555  
Total reclamation liabilities 5,768 3,719 $ 3,334
Remediation liabilities, current 60 50  
Remediation liabilities, non-current 284 263  
Total remediation liabilities 344 313 299
Reclamation and remediation liabilities 273 214  
Reclamation and remediation liabilities (Note 6) 5,839 3,818  
Reclamation and remediation liabilities $ 6,112 $ 4,032 $ 3,633
v3.22.0.1
RECLAMATION AND REMEDIATION - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Reclamation and remediation      
Environmental remediation obligations $ 344 $ 313 $ 299
Other noncurrent assets      
Reclamation and remediation      
Asset retirement obligation restricted assets 49 56  
Marketable and other equity securities | Other noncurrent assets      
Reclamation and remediation      
Asset retirement obligation restricted assets $ 51 38  
Maximum      
Reclamation and remediation      
Loss accrual possible shortfall (as a percent) 45.00%    
Minimum      
Reclamation and remediation      
Loss accrual possible shortfall (as a percent) 0.00%    
Ahafo and Akyem Mines | Other noncurrent assets      
Reclamation and remediation      
Asset retirement obligation restricted assets $ 40 48  
Ahafo and Akyem Mines | Marketable and other equity securities | Other noncurrent assets      
Reclamation and remediation      
Asset retirement obligation restricted assets 16    
NGM | Other noncurrent assets      
Reclamation and remediation      
Asset retirement obligation restricted assets 4 6  
Midnite Mine | Other noncurrent assets      
Reclamation and remediation      
Asset retirement obligation restricted assets 3 2  
Midnite mine and Dawn mill sites | Marketable and other equity securities | Other noncurrent assets      
Reclamation and remediation      
Asset retirement obligation restricted assets 11 14  
San Jose Reservoir | Marketable and other equity securities | Other noncurrent assets      
Reclamation and remediation      
Asset retirement obligation restricted assets 24 $ 24  
Ross Adams Mine | Other noncurrent assets      
Reclamation and remediation      
Asset retirement obligation restricted assets $ 2    
v3.22.0.1
CARE AND MAINTENANCE (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Segment Information      
Care and maintenance $ 8 $ 178 $ 0
Tanami      
Segment Information      
Care and maintenance 8 0 0
Depreciation and amortization 3    
Musselwhite      
Segment Information      
Care and maintenance 0 28 0
Depreciation and amortization   7  
Éléonore      
Segment Information      
Care and maintenance 0 26 0
Depreciation and amortization   16  
Peñasquito      
Segment Information      
Care and maintenance 0 38 0
Depreciation and amortization   28  
Yanacocha      
Segment Information      
Care and maintenance 0 27 0
Depreciation and amortization   7  
Cerro Negro      
Segment Information      
Care and maintenance 0 56 0
Depreciation and amortization   30  
Other South America      
Segment Information      
Care and maintenance $ 0 $ 3 $ 0
v3.22.0.1
LOSS ON ASSETS HELD FOR SALE (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Sep. 30, 2021
Dec. 31, 2020
Dec. 31, 2019
Disposal group        
Assets received $ 40,564   $ 41,369 $ 39,974
Conga Mill | Held for sale or disposed of by sale, not discontinued operations        
Disposal group        
Cash proceeds   $ 68    
Assets received 900      
Assets carrying value included in property, plant and mine development, net 593      
Loss on sale 571      
Current deposit liability $ 17      
v3.22.0.1
OTHER EXPENSE, NET (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Other Income And Expense [Line Items]      
COVID-19 specific costs $ 87 $ 92 $ 0
Impairment of long-lived and other assets 25 49 5
Settlement costs 11 58 5
Restructuring and severance 11 18 7
Other 26 15 36
Other expense, net (Note 9) 160 255 300
Amount distributed from Newmont Global Community Support Fund 3 11  
Suriname      
Other Income And Expense [Line Items]      
Loss contingency 10    
Goldcorp      
Other Income And Expense [Line Items]      
transaction, integration, and implementation costs 0 23 217
NGM      
Other Income And Expense [Line Items]      
transaction, integration, and implementation costs $ 0 $ 0 $ 30
v3.22.0.1
GAIN ON ASSET AND INVESTMENT SALES, NET (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 1 Months Ended 11 Months Ended 12 Months Ended
Dec. 01, 2021
Mar. 31, 2020
Mar. 04, 2020
Jan. 02, 2020
Dec. 31, 2020
Oct. 31, 2020
Nov. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Ownership interest (as a percent)         38.50%     38.50% 38.50%  
Continental Gold Inc                    
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Cash proceeds on sale     $ 253              
Gain on sale     $ 91              
MARA Investment                    
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Ownership percentage (as a percent)         18.75%     18.75% 18.75%  
Marketable equity securities               $ 53    
Alumbrera Mine                    
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Gain on sale         $ 6          
Ownership interest (as a percent)         37.50%       37.50%  
Carrying value of investment on date of exchange               47    
Disposed of by sale, not discontinued operations                    
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Gain on sale               212 $ 677 $ 30
Disposed of by sale, not discontinued operations | Kalgoorlie                    
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Gain on sale               83 493 0
Percentage interest sold (as a percent)       50.00%            
Proceeds from sale $ 95     $ 800     $ 70      
Proceeds allocated to purchaser rights option       $ 25            
Disposed of by sale, not discontinued operations | Lone Tree                    
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Gain on sale               79 0 0
Disposed of by sale, not discontinued operations | T M A C                    
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Gain on sale               42 0 0
Disposed of by sale, not discontinued operations | Continental                    
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Gain on sale               0 91 0
Disposed of by sale, not discontinued operations | Royalty interests                    
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Gain on sale               0 75 0
Proceeds from sale           $ 15        
Carrying value           0        
Total consideration           75        
Consideration, equity interest           $ 60        
Consideration, equity interest (in shares)           12        
Consideration, equity interest, share price (in dollars per share)           $ 5.02        
Maximum contingent consideration           $ 15        
Disposed of by sale, not discontinued operations | Red Lake                    
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Gain on sale               0 9 0
Proceeds from sale   $ 375                
Total consideration   429                
Maximum contingent consideration   100                
Consideration, working capital   $ 15                
Contingent consideration, period   15 years                
Value of embedded derivative         $ 42     42 42  
Disposed of by sale, not discontinued operations | Alumbrera mine/MARA                    
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Gain on sale               0 6 0
Disposed of by sale, not discontinued operations | Other                    
Gain (Loss) On Sale Of Other Assets [Line Items]                    
Gain on sale               $ 8 $ 3 $ 30
v3.22.0.1
OTHER INCOME (LOSS), NET - Components (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
OTHER INCOME (LOSS), NET      
Change in fair value of investments $ (135) $ 252 $ 166
Foreign currency exchange, net 23 (73) (7)
Interest 18 24 57
Charges from debt extinguishment   (77) 0
Pension settlements and curtailments (4) (92) 20
Impairment of investments (1) (93) (2)
Insurance proceeds 0 0 38
Other 23 27 25
Other Income, net $ (87) $ (32) $ 297
v3.22.0.1
OTHER INCOME (LOSS), NET - Additional information (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Other information        
Charges from debt extinguishment     $ (77) $ 0
Interest rate contracts        
Other information        
Charges from debt extinguishment   $ 1 (8)  
2022 and 2023 Senior Notes | Senior Notes        
Other information        
Charges from debt extinguishment   $ (11) $ (69)  
T M A C        
Other information        
Other-than-temporary impairment charge $ 93      
v3.22.0.1
INCOME AND MINING TAXES - Tax benefit (expense) - Current vs Deferred (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Current:      
Current: United States $ (71) $ (35) $ 2
Current: Foreign (1,136) (891) (500)
Current income taxes (1,207) (926) (498)
Deferred:      
Deferred: United States 5 72 (340)
Deferred: Foreign 104 150 6
Deferred income taxes 109 222 (334)
Income and mining tax benefit (expense) $ (1,098) $ (704) $ (832)
v3.22.0.1
INCOME AND MINING TAXES - Domestic Vs Foreign (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income (loss) before income and mining tax and other items      
United States $ 247 $ 631 $ 2,396
Foreign 861 2,512 1,297
Income (loss) before mining tax $ 1,108 $ 3,143 $ 3,693
v3.22.0.1
INCOME AND MINING TAXES - Rate Reconciliation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Reconciling item, percentage      
U.S. Federal statutory tax rate 21.00% 21.00% 21.00%
Percentage depletion (7.00%) (2.00%) (1.00%)
Change in valuation allowance on deferred tax assets 38.00% 6.00% (8.00%)
Rate differential for foreign earnings indefinitely reinvested 10.00% 8.00% 4.00%
Mining and other taxes (net of associated federal benefit) 15.00% 5.00% 2.00%
Uncertain tax position reserve adjustment 9.00% (1.00%) 2.00%
Tax impact on sale of Kalgoorlie 0.00% (11.00%) 0.00%
Expiration of U.S. Capital Losses 14.00% 0.00% 1.00%
Other (1.00%) (4.00%) 2.00%
Income and mining tax benefit (expense) 99.00% 22.00% 23.00%
Reconciling item, amount      
Income (loss) before income and mining tax and other items $ 1,108 $ 3,143 $ 3,693
U.S. Federal statutory tax rate (233) (660) (776)
Percentage depletion 71 77 55
Change in valuation allowance on deferred tax assets (419) (186) 296
Rate differential for foreign earnings indefinitely reinvested (108) (268) (140)
Mining and other taxes (net of associated federal benefit) (173) (151) (90)
Uncertain tax position reserve adjustment (99) 21 (70)
Tax impact on sale of Kalgoorlie 0 353 0
Expiration of U.S. Capital Losses (152) 0 (34)
Other 15 110 (73)
Income and mining tax benefit (expense) $ (1,098) $ (704) $ (832)
v3.22.0.1
INCOME AND MINING TAXES - Components of Deferred Tax Assets (Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Deferred income tax assets:    
Property, plant and mine development $ 928 $ 996
Inventory 87 62
Reclamation and remediation 1,500 892
Net operating losses, capital losses and tax credits  1,908 1,843
Investment in partnerships and subsidiaries  26 340
Employee-related benefits 146 162
Derivative instruments and unrealized loss on investments 74 25
Foreign Exchange and Financing Obligations 62 82
Silver Streaming Agreement 311 349
Other 124 112
Deferred tax assets gross 5,166 4,863
Valuation allowances (3,791) (3,418)
Deferred tax assets net 1,375 1,445
Deferred income tax liabilities:    
Property, plant and mine development (2,409) (2,303)
Inventory (58) (110)
Derivative instruments and unrealized gain on investments (730) (726)
Other (53) (42)
Deferred tax liabilities (3,250) (3,181)
Net deferred income tax assets (liabilities) $ (1,875) $ (1,736)
v3.22.0.1
INCOME AND MINING TAXES - Valuation of Deferred Tax Assets (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
Valuation of Deferred Tax Assets  
Increase (decrease) in valuation allowance $ (419)
Other  
Valuation of Deferred Tax Assets  
Additions and reductions reflected in other components of the financial statements $ 46
v3.22.0.1
INCOME AND MINING TAXES - Tax Loss Carryforwards, Foreign Tax Credits, Canadian Tax Credits, and AMT Credits (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Carryforwards    
Operating loss carryforwards $ 2,020 $ 1,726
Tax credit carryforwards 669 659
Operating loss carryforwards not subject to expiration 586 502
Canada    
Carryforwards    
Operating loss carryforwards subject to expiration 1,169  
Canada | Investment Tax Credit Carryforward    
Carryforwards    
Tax credit carryforwards 159 149
Tax credit carryforward, not subject to expiration 63  
Canada | Investment Tax Credit Carryforward | Expire by 2035    
Carryforwards    
Tax credit carryforward, subject to expiration 84  
Canada | Investment Tax Credit Carryforward | Expire by 2041    
Carryforwards    
Tax credit carryforward, subject to expiration 12  
Mexico    
Carryforwards    
Operating loss carryforwards subject to expiration 133  
Other    
Carryforwards    
Operating loss carryforwards subject to expiration 132  
United States | Foreign Tax Credits    
Carryforwards    
Tax credit carryforward, not subject to expiration $ 510 $ 510
v3.22.0.1
INCOME AND MINING TAXES - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Reconciliation Of Unrecognized Tax Benefits      
Total amount of gross unrecognized tax benefits at beginning of year $ 237 $ 326 $ 43
Additions due to acquisition of Goldcorp 0 0 350
Reductions for tax positions of prior years 36 33  
Additions for tax positions of prior years     1
Additions for tax positions of current year  0 4 34
Reductions due to settlements with taxing authorities  (26) (58) (102)
Reductions due to lapse of statute of limitations  (2) (2) 0
Total amount of gross unrecognized tax benefits at end of year $ 245 $ 237 $ 326
v3.22.0.1
INCOME AND MINING TAXES - Unrecognized Tax Benefits - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2017
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Unrecognized Tax Benefits, other information        
Unrecognized tax benefits affecting effective tax rate   $ 335 $ 369 $ 459
Unrecognized tax benefits, interest and penalties   138 146  
Interest and penalties for unrecognized tax benefits accrued (released) during the period   8 $ 20 $ (29)
Australian Taxation Office ("ATO")        
Unrecognized Tax Benefits, other information        
Amount of tax, interest and penalties asserted as disputed amount $ 85      
Amount paid to preserve right to contest conclusions of ATO $ 24      
Minimum        
Unrecognized Tax Benefits, other information        
Significant decrease in unrecognized tax benefits is reasonably possible, estimated range of change   110    
Maximum        
Unrecognized Tax Benefits, other information        
Significant decrease in unrecognized tax benefits is reasonably possible, estimated range of change   $ 160    
v3.22.0.1
EMPLOYEE-RELATED BENEFITS - Current and Long-Term Employee-Related Benefits (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current:    
Accrued payroll and withholding taxes  $ 339 $ 334
Peruvian workers’ participation and other bonuses 18 23
Other post-retirement benefit plans  6 6
Employee pension benefits  4 5
Accrued severance  2 4
Other employee-related payables  17 8
Employee-related benefits, Current 386 380
Non-current:    
Accrued severance 278 252
Other post-retirement benefit plans  78 84
Employee pension benefits  45 126
Other employee-related payables  38 31
Employee-related benefits, Non-current $ 439 $ 493
v3.22.0.1
EMPLOYEE-RELATED BENEFITS - Benefit Obligations and Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Change in benefit obligation:      
Actuarial loss (gain) $ (38) $ 109  
Change in fair value of assets:      
Fair value of assets at beginning of year 986    
Fair value of assets at end of year 1,014 986  
Other non-current assets 686 573  
Employee-related benefits, current (386) (380)  
Employee-related benefits, non-current (439) (493)  
Pension Benefits      
Change in benefit obligation:      
Benefit obligation at beginning of year 1,117 1,267  
Service cost 15 17 $ 31
Interest cost 30 36 47
Actuarial loss (gain) (32) 105  
Settlement payments (13) (267)  
Foreign currency exchange (gain) loss 0 1  
Benefits paid (77) (42)  
Projected benefit obligation at end of year 1,040 1,117 1,267
Accumulated benefit obligation 1,017 1,095  
Change in fair value of assets:      
Fair value of assets at beginning of year 986 1,145  
Actual return on plan assets 77 106  
Employer contributions 41 43  
Foreign currency exchange (gain) loss 0 1  
Settlement payments (13) (267)  
Benefits paid (77) (42)  
Fair value of assets at end of year 1,014 986 1,145
(Unfunded) funded status, net: (26) (131)  
Other non-current assets 23 0  
Employee-related benefits, current (4) (5)  
Employee-related benefits, non-current $ (45) $ (126)  
Discount rate (as a percent) 3.06% 2.77%  
Other Comprehensive Income (Loss), Settlement Of Pension And Postretirement Plan Valuation Before Tax $ 4 $ 92 0
Pension Benefits | Unfunded Plan      
Change in benefit obligation:      
Benefit obligation at beginning of year 1,117    
Projected benefit obligation at end of year 50 1,117  
Accumulated benefit obligation 43 1,095  
Change in fair value of assets:      
Fair value of assets at beginning of year 986    
Fair value of assets at end of year 1 986  
Other Benefits      
Change in benefit obligation:      
Service cost 1 1 1
Interest cost 3 3 4
Actuarial loss (gain) (6) 4  
Settlement payments 0 0  
Foreign currency exchange (gain) loss 0 0  
Benefits paid (4) (4)  
Accumulated benefit obligation 84 90 86
Other retirement benefits, change In accumulated Benefit obligation 84 90  
Change in fair value of assets:      
Fair value of assets at beginning of year 0 0  
Actual return on plan assets 0 0  
Employer contributions 4 4  
Foreign currency exchange (gain) loss 0 0  
Settlement payments 0 0  
Benefits paid (4) (4)  
Fair value of assets at end of year 0 0 0
(Unfunded) funded status, net: (84) (90)  
Other non-current assets 0 0  
Employee-related benefits, current (6) (6)  
Employee-related benefits, non-current (78) (84)  
Other Comprehensive Income (Loss), Settlement Of Pension And Postretirement Plan Valuation Before Tax $ 0 $ 0 $ 0
v3.22.0.1
EMPLOYEE-RELATED BENEFITS - Net Pension Amounts Recognized in the Consolidated Balance Sheets (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Accumulated other comprehensive income (loss):        
Total equity $ 21,813 $ 23,845 $ 22,370 $ 11,465
Pension Benefits | Net pension and other benefits included in AOCI        
Accumulated other comprehensive income (loss):        
Net actuarial gain (loss) (240) (328)    
Prior service credit 17 24    
Accumulated other comprehensive income (loss) before tax (223) (304)    
Less: Income taxes 46 59    
Total equity (177) (245)    
Other Benefits | Net pension and other benefits included in AOCI        
Accumulated other comprehensive income (loss):        
Net actuarial gain (loss) 11 6    
Prior service credit 2 4    
Accumulated other comprehensive income (loss) before tax 13 10    
Less: Income taxes (2) (2)    
Total equity $ 11 $ 8    
v3.22.0.1
EMPLOYEE-RELATED BENEFITS - Net Periodic Pension Costs and Components Recognized in OCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Components recognized in Other comprehensive income (loss)      
Curtailment gain (loss) $ 0 $ 0 $ (13)
Pension Benefits      
Pension benefit costs (credits), net      
Service cost  15 17 31
Interest cost  30 36 47
Expected return on plan assets  (59) (61) (66)
Amortization, net 29 29 22
Net periodic benefit cost (credit) 15 21 34
Settlement cost 4 92 0
(Gain) loss on curtailment 0 0 (10)
Restructuring (benefit) loss 0 0 8
Total benefit cost (credit) 19 113 32
Components recognized in Other comprehensive income (loss)      
Net loss (gain) (48) 60 2
Amortization, net (29) (29) (22)
Accelerated prior service credit (cost) due to curtailment 0 0 12
Settlements (4) (92) 0
Total recognized in other comprehensive income (loss) (81) (61) (8)
Total benefit cost (credit) and other comprehensive income (loss) (62) 52 24
Other Benefits      
Pension benefit costs (credits), net      
Service cost  1 1 1
Interest cost  3 3 4
Expected return on plan assets  0 0 0
Amortization, net (2) (1) (8)
Net periodic benefit cost (credit) 2 3 (3)
Settlement cost 0 0 0
(Gain) loss on curtailment 0 0 (18)
Restructuring (benefit) loss 0 0 0
Total benefit cost (credit) 2 3 (21)
Components recognized in Other comprehensive income (loss)      
Net loss (gain) (5) 4 8
Amortization, net 2 1 8
Accelerated prior service credit (cost) due to curtailment 0 0 11
Settlements 0 0 0
Total recognized in other comprehensive income (loss) (3) 5 27
Total benefit cost (credit) and other comprehensive income (loss) $ (1) $ 8 $ 6
v3.22.0.1
EMPLOYEE-RELATED BENEFITS - Significant Assumptions (Details) - calculation
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Other information      
Period for look-back of average actual return on plan assets (in years) 33 years    
Actual return on plan assets (as a percent) 8.48%    
Final Average Pay, number of years included in calculation (in years) 5 years    
Pension Benefits      
Weighted average assumptions used in measuring the net periodic benefit cost:      
Discount rate  2.77% 3.49% 4.40%
Expected return on plan assets  6.75% 6.75% 6.75%
Other information      
Number of calculation methods for salaried U.S. employees 2    
Other Benefits      
Weighted average assumptions used in measuring the net periodic benefit cost:      
Discount rate  2.70% 3.49% 4.40%
v3.22.0.1
EMPLOYEE-RELATED BENEFITS - Asset Allocation (Details) - Pension Benefits
Dec. 31, 2021
U.S. equity investments   
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 11.00%
Actual asset allocation (as a percent) 12.00%
International equity investments   
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 12.00%
Actual asset allocation (as a percent) 12.00%
World equity fund (U.S. and International equity investments)  
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 20.00%
Actual asset allocation (as a percent) 20.00%
High yield fixed income investments  
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 4.00%
Actual asset allocation (as a percent) 4.00%
Fixed income investments   
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 45.00%
Actual asset allocation (as a percent) 43.00%
Cash equivalents  
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 0.00%
Actual asset allocation (as a percent) 0.00%
Other  
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 8.00%
Actual asset allocation (as a percent) 9.00%
v3.22.0.1
EMPLOYEE-RELATED BENEFITS - Fair Value of Plan Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Pension and other post-retirement costs, net      
Fair value of assets $ 1,014 $ 986  
Pension Benefits      
Pension and other post-retirement costs, net      
Fair value of assets 1,014 986 $ 1,145
Pension Benefits | Cash and cash equivalents       
Pension and other post-retirement costs, net      
Fair value of assets 4 5  
Pension Benefits | Commingled funds       
Pension and other post-retirement costs, net      
Fair value of assets $ 1,010 $ 981  
v3.22.0.1
EMPLOYEE-RELATED BENEFITS - Change in Assumed Health Care Cost Trend Rates (Details) - Other Benefits
Dec. 31, 2021
Defined Benefit Plan, Assumed Health Care Cost Trend Rates [Abstract]  
Assumed health care cost trend rate for next fiscal year (as a percent) 6.00%
Assumed ultimate health care cost trend rate (as a percent) 5.00%
v3.22.0.1
EMPLOYEE-RELATED BENEFITS - Cash Flows (Details)
$ in Millions
Dec. 31, 2021
USD ($)
Pension Benefits  
Cash Flows  
2022 $ 61
2023 62
2024 63
2025 61
2026 63
2027 - 2031 313
Other Benefits  
Cash Flows  
2022 6
2023 6
2024 6
2025 6
2026 6
2027 - 2031 $ 27
v3.22.0.1
EMPLOYEE-RELATED BENEFITS - Savings Plans (Details) - United States
 12 Months Ended
Dec. 31, 2021
plan
Qualified Plan  
Savings Plans  
Number of plans 1
Percentage of employee contributions matched 100.00%
Maximum employer match, as a percentage of eligible earnings 6.00%
Additional employer match, as percentage of eligible earnings, non-union 5.00%
Non-qualified plan  
Savings Plans  
Number of plans 1
v3.22.0.1
STOCK-BASED COMPENSATION - General Information (Details) - $ / shares
 12 Months Ended
Apr. 18, 2019
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares authorized for future stock incentive plan awards (in shares)   22,796,541      
Restricted stock units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock award vesting period (in years)   3 years     1 year
Performance leveraged stock units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock award performance period (in years)   3 years      
Newmont Employee Stock Options          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock award vesting period (in years)   3 years      
Stock award expiration period (in years)   10 years      
Options granted (in shares)   0 0 0  
Options outstanding (in shares)     48,956    
Options outstanding, weighted average exercise price (in dollars per share)     $ 59.64    
Stock options exercised (in shares)   44,006      
Stock options expired (in shares)   4,950      
Stock options exercised, weighted average exercise price (in dollars per share)   $ 59.75      
Stock options expired, weighted average exercise price (in dollars per share)   $ 58.69      
Number of instruments exchanged (in shares) 1,200,000        
Goldcorp Employee Stock Options          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Options outstanding (in shares)   313,855 558,749    
Options outstanding, weighted average exercise price (in dollars per share)   $ 56.61 $ 58.64    
Stock options exercised (in shares)   244,894      
Stock options expired (in shares)   0      
Stock options exercised, weighted average exercise price (in dollars per share)   $ 61.24      
Options outstanding - weighted average remaining contractual life (in years)   7 months 6 days      
Number of instruments exchanged (in shares) 3,600,000        
v3.22.0.1
STOCK-BASED COMPENSATION - Assumptions Using Monte Carlo Valuation Model (Details) - $ / shares
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]      
Risk-free interest rate 0.22% 1.21% 2.46%
Volatility range, minimum 0.3141% 0.2471% 0.335%
Volatility range, maximum 0.7672% 0.4391% 0.584%
Weighted-average volatility 53.05% 35.38% 44.49%
Expected term (years) 3 years 3 years 3 years
Weighted-average fair market value (in dollars per share) $ 65.41 $ 59.24 $ 41.14
v3.22.0.1
STOCK-BASED COMPENSATION - Activity (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Other information      
Excess tax benefits $ 3 $ 1 $ 3
Restricted stock units      
Number of Shares      
Non-vested at beginning of year (in shares) 2,173,371    
Granted (in shares) 982,952    
Vested (in shares) (1,177,826)    
Forfeited (in shares) (186,503)    
Non-vested at end of year (in shares) 1,791,994 2,173,371  
Weighted Average Grant-Date Fair Value      
Nonvested at beginning of year (in dollars per share) $ 42.22    
Granted (in dollars per share) 57.60    
Vested (in dollars per share) 40.08    
Forfeited (in dollars per share) 51.86    
Nonvested at end of year (in dollars per share) $ 51.06 $ 42.22  
Other information      
Total intrinsic value, vested shares (in dollars) $ 72 $ 81 60
Performance leveraged stock units      
Number of Shares      
Non-vested at beginning of year (in shares) 1,387,281    
Granted (in shares) 437,481    
Vested (in shares) (364,975)    
Forfeited (in shares) (115,834)    
Non-vested at end of year (in shares) 1,343,953 1,387,281  
Weighted Average Grant-Date Fair Value      
Nonvested at beginning of year (in dollars per share) $ 49.16    
Granted (in dollars per share) 63.68    
Vested (in dollars per share) 44.00    
Forfeited (in dollars per share) 56.26    
Nonvested at end of year (in dollars per share) $ 55.91 $ 49.16  
Other information      
Total intrinsic value, vested shares (in dollars) $ 21 $ 42 $ 71
v3.22.0.1
STOCK-BASED COMPENSATION - Compensation Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Unrecognized compensation      
Unrecognized compensation cost expected to be recognized on a weighted-average basis, period (in years) 2 years    
Stock-based compensation:      
Stock-based compensation $ 72 $ 84 $ 121
Restricted stock units      
Unrecognized compensation      
Unrecognized compensation cost related to unvested stock 47    
Stock-based compensation:      
Stock-based compensation 47 51 68
Performance leveraged stock units      
Unrecognized compensation      
Unrecognized compensation cost related to unvested stock 33    
Stock-based compensation:      
Stock-based compensation 25 21 29
Other      
Stock-based compensation:      
Stock-based compensation $ 0 $ 12 $ 24
v3.22.0.1
FAIR VALUE ACCOUNTING - Recurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Carrying value    
Liabilities:    
Debt $ 5,652 $ 6,031
Level 3    
Assets:    
Contingent consideration assets 171 119
Liabilities:    
Contingent consideration liabilities 5  
Marketable debt securities | Level 3    
Assets:    
Marketable securities   53
Warrants | Maverix Metals Inc.    
Assets:    
Marketable securities 8 14
Recurring    
Assets:    
Cash and cash equivalents  4,992 5,540
Restricted cash 101 108
Assets held for sale 68  
Contingent consideration assets 171 119
Total assets 6,077 6,866
Liabilities:    
Debt 6,712 7,586
Contingent consideration liabilities 5  
Other 6 11
Total liabilities 6,723 7,597
Recurring | Level 1    
Assets:    
Cash and cash equivalents  4,992 5,540
Restricted cash 101 108
Assets held for sale 0  
Contingent consideration assets 0 0
Total assets 5,455 6,276
Liabilities:    
Debt 0 0
Contingent consideration liabilities 0  
Other 0 0
Total liabilities 0 0
Recurring | Level 2    
Assets:    
Cash and cash equivalents  0 0
Restricted cash 0 0
Assets held for sale 68  
Contingent consideration assets 0 0
Total assets 389 418
Liabilities:    
Debt 6,712 7,586
Contingent consideration liabilities 0  
Other 6 11
Total liabilities 6,718 7,597
Recurring | Level 3    
Assets:    
Cash and cash equivalents  0 0
Restricted cash 0 0
Assets held for sale 0  
Contingent consideration assets 171 119
Total assets 233 172
Liabilities:    
Debt 0 0
Contingent consideration liabilities 5  
Other 0 0
Total liabilities 5 0
Recurring | Trade receivable from provisional concentrate sales, net     
Assets:    
Trade receivable from provisional concentrate sales, net  297 379
Recurring | Trade receivable from provisional concentrate sales, net  | Level 1    
Assets:    
Trade receivable from provisional concentrate sales, net  0 0
Recurring | Trade receivable from provisional concentrate sales, net  | Level 2    
Assets:    
Trade receivable from provisional concentrate sales, net  297 379
Recurring | Trade receivable from provisional concentrate sales, net  | Level 3    
Assets:    
Trade receivable from provisional concentrate sales, net  0 0
Recurring | Marketable and other equity securities    
Assets:    
Marketable securities 397 682
Recurring | Marketable and other equity securities | Level 1    
Assets:    
Marketable securities 318 604
Recurring | Marketable and other equity securities | Level 2    
Assets:    
Marketable securities 17 25
Recurring | Marketable and other equity securities | Level 3    
Assets:    
Marketable securities 62 53
Recurring | Marketable debt securities    
Assets:    
Restricted investments 35 38
Recurring | Marketable debt securities | Level 1    
Assets:    
Restricted investments 28 24
Recurring | Marketable debt securities | Level 2    
Assets:    
Restricted investments 7 14
Recurring | Marketable debt securities | Level 3    
Assets:    
Restricted investments 0 $ 0
Recurring | Other assets    
Assets:    
Restricted investments 16  
Recurring | Other assets | Level 1    
Assets:    
Restricted investments 16  
Recurring | Other assets | Level 2    
Assets:    
Restricted investments 0  
Recurring | Other assets | Level 3    
Assets:    
Restricted investments $ 0  
v3.22.0.1
FAIR VALUE ACCOUNTING - Quantitative Information (Details)
$ in Millions
Dec. 31, 2021
USD ($)
$ / oz
Dec. 31, 2020
USD ($)
$ / oz
Recurring    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration $ 171 $ 119
Contingent consideration liabilities 5  
Marketable equity securities | Recurring    
Quantitative and Qualitative Information - Unobservable Inputs    
Investments, fair value disclosure 397 682
Level 3    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration 171 119
Contingent consideration liabilities 5  
Level 3 | Recurring    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration 171 119
Contingent consideration liabilities 5  
Level 3 | Investments    
Quantitative and Qualitative Information - Unobservable Inputs    
Investments, fair value disclosure   53
Level 3 | Marketable equity securities | Recurring    
Quantitative and Qualitative Information - Unobservable Inputs    
Investments, fair value disclosure $ 62 $ 53
Level 3 | Discounted cash flow | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Investments, measurement input   1,500
Level 3 | Discounted cash flow | Minimum | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration asset, measurement input (as a percent) 0.0448  
Contingent consideration liability, measurement input (as a percent) 0.0248  
Level 3 | Discounted cash flow | Maximum | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration asset, measurement input (as a percent) 0.0588  
Contingent consideration liability, measurement input (as a percent) 0.0335  
Level 3 | Discounted cash flow | Weighted Average | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration asset, measurement input (as a percent) 0.0563 0.0763
Contingent consideration liability, measurement input (as a percent) 0.0283  
Level 3 | Discounted cash flow | Investments | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Investments, measurement input 0.0950 0.0950
Level 3 | Discounted cash flow | Investments | Long-term price (in dollars per ounce or pound) | Gold    
Quantitative and Qualitative Information - Unobservable Inputs    
Investments, measurement input | $ / oz 1,500  
Level 3 | Discounted cash flow | Investments | Long-term price (in dollars per ounce or pound) | Copper    
Quantitative and Qualitative Information - Unobservable Inputs    
Investments, measurement input | $ / oz 3.00  
Level 3 | Discounted cash flow | Investments | Minimum | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration asset, measurement input (as a percent) | $ / oz   0.0453
Level 3 | Discounted cash flow | Investments | Maximum | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration asset, measurement input (as a percent) | $ / oz   0.0919
Level 3 | Monte Carlo [Member] | Holt Property Royalty [Member] | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Investments, measurement input   3.00
v3.22.0.1
FAIR VALUE ACCOUNTING - Changes in the Fair Value of Level 3 Financial Assets and Liabilities (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Summary of changes in Level 3 financial assets    
Balance at beginning of period, assets $ 119 $ 77
Additions and settlements 0 39
Revaluation 52 43
Sales   (40)
Balance at end of period, assets 171 119
Summary of changes in Level 3 financial liabilities    
Balance at beginning of period, liabilities 0 257
Additions and settlements 0 (8)
Revaluation 5 (249)
Sales   0
Balance at end of period, liabilities 5 0
Other income, net    
Summary of changes in Level 3 financial assets    
Revaluation 3  
Net income (loss) from discontinued operations    
Summary of changes in Level 3 financial assets    
Revaluation 49  
Holt Royalty Obligation    
Summary of changes in Level 3 financial liabilities    
Balance at beginning of period, liabilities 0 257
Additions and settlements 0 (8)
Revaluation 0 (249)
Sales   0
Balance at end of period, liabilities 0 0
Contingent Consideration Liability    
Summary of changes in Level 3 financial liabilities    
Balance at beginning of period, liabilities 0 0
Additions and settlements 0 0
Revaluation 5 0
Sales   0
Balance at end of period, liabilities 5 0
Investments    
Summary of changes in Level 3 financial assets    
Balance at beginning of period, assets 0 39
Additions and settlements 0 0
Revaluation 0 1
Sales   (40)
Balance at end of period, assets 0 0
Contingent Consideration Assets    
Summary of changes in Level 3 financial assets    
Balance at beginning of period, assets 119 38
Additions and settlements 0 39
Revaluation 52 42
Sales   0
Balance at end of period, assets 171 $ 119
Contingent Consideration Assets | Red Lake    
Summary of changes in Level 3 financial assets    
Additions and settlements $ 39  
v3.22.0.1
FAIR VALUE ACCOUNTING - Additional Details (Details)
$ in Millions
Sep. 30, 2021
USD ($)
Held for sale or disposed of by sale, not discontinued operations | Conga Mill  
Disposal group  
Total consideration $ 68
v3.22.0.1
INVESTMENTS (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Mar. 31, 2021
Dec. 31, 2020
Investments      
Investments (Note 16) $ 3,243   $ 3,197
Non-current restricted investments $ 51   $ 38
Ownership interest (as a percent) 38.50%   38.50%
Pueblo Viejo Mine      
Investments      
Ownership interest (as a percent) 40.00%    
Nueva Union Project      
Investments      
Ownership interest (as a percent) 50.00%    
Norte Abierto Project      
Investments      
Ownership interest (as a percent) 50.00%    
Maverix Metals Inc.      
Investments      
Ownership interest (as a percent) 28.60%    
T M A C      
Investments      
Equity method investments   $ 13  
Ownership interest (as a percent) 0.00%    
Marketable debt securities      
Investments      
Non-current restricted investments $ 35   $ 38
Other assets      
Investments      
Non-current restricted investments 16   0
Investments - current | Marketable and other equity securities      
Investments      
Marketable securities 82   290
Investments - noncurrent      
Investments      
Equity method investments 2,936   2,819
Investments (Note 16) 3,243   3,197
Investments - noncurrent | Pueblo Viejo Mine      
Investments      
Equity method investments 1,320   1,202
Investments - noncurrent | Nueva Union Project      
Investments      
Equity method investments 950   949
Investments - noncurrent | Norte Abierto Project      
Investments      
Equity method investments 505   493
Investments - noncurrent | Maverix Metals Inc.      
Investments      
Equity method investments 160   160
Investments - noncurrent | T M A C      
Investments      
Equity method investments 0   13
Investments - noncurrent | Other      
Investments      
Equity method investments 1   2
Investments - noncurrent | Marketable and other equity securities      
Investments      
Marketable securities $ 307   $ 378
v3.22.0.1
INVESTMENTS - Purchases, Sales, and Exchanges (Details) - USD ($)
shares in Millions, $ in Millions
 1 Months Ended 3 Months Ended 12 Months Ended
Nov. 30, 2020
Oct. 31, 2020
Apr. 30, 2012
Jun. 30, 2009
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Apr. 30, 2020
Sep. 30, 2019
Investments acquired                    
Equity income (loss) of affiliates           $ 166 $ 189 $ 95    
Ownership interest (as a percent)           38.50% 38.50%      
Disposed of by sale, not discontinued operations | Exploration properties, other                    
Investments acquired                    
Consideration, equity interest (in shares)   12                
Goldcorp                    
Investments acquired                    
Equity method investments                 $ 2,796  
Pueblo Viejo Revolving Facility                    
Investments acquired                    
Margin added to base rate (as a percent)           2.09%        
Ownership interest (as a percent)           40.00%        
Line of credit facility maximum borrowing capacity                   $ 70
Credit facility, amount outstanding           $ 0 $ 0      
Pueblo Viejo Mine                    
Investments acquired                    
Equity income (loss) of affiliates           166 193 $ 124    
Amount by which investment carrying value is lower than underlying net assets           $ 277        
Funds advanced to equity method investee     $ 300 $ 400            
Loan term (in years)     12 years 15 years            
Margin added to base rate (as a percent) 4.00%     2.95%            
Agreed funding to equity method investment, including other owner's amount $ 1,300                  
Agreed funding to equity method investment $ 520                  
Ownership interest (as a percent)           40.00%        
Base rate, as percentage of LIBOR (as a percent) 95.00%     95.00%            
Share of loans included in investment           $ 260 244      
Interest receivable           3 4      
Purchases           616 660      
Due to (from) related party             0      
Pueblo Viejo Mine | Investment Tranche One                    
Investments acquired                    
Agreed funding to equity method investment, including other owner's amount $ 800                  
Pueblo Viejo Mine | Investment Tranche Two                    
Investments acquired                    
Agreed funding to equity method investment, including other owner's amount $ 500                  
Nueva Union Project                    
Investments acquired                    
Amount by which investment carrying value is lower than underlying net assets           $ 67        
Ownership interest (as a percent)           50.00%        
Norte Abierto Project                    
Investments acquired                    
Amount by which investment carrying value is lower than underlying net assets           $ 209        
Ownership interest (as a percent)           50.00%        
Norte Abierto Project | Barrick Gold Corporation | Other current liabilities                    
Investments acquired                    
Deferred payments to joint venture partner           $ 22 33      
Norte Abierto Project | Barrick Gold Corporation | Other non-current liabilities                    
Investments acquired                    
Deferred payments to joint venture partner           $ 102 $ 123      
Maverix Metals Inc.                    
Investments acquired                    
Ownership interest (as a percent)           28.60%        
T M A C                    
Investments acquired                    
Ownership interest (as a percent)           0.00%        
Cash proceeds on sale         $ 55          
Equity method investments         13          
Gain on sale         $ 42          
v3.22.0.1
INVENTORIES - Summary of Inventories (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Inventory, net    
Materials and supplies $ 669 $ 673
In-process 132 148
Concentrate 58 39
Precious metals 71 103
Total inventories $ 930 $ 963
v3.22.0.1
STOCKPILES AND ORE ON LEACH PADS - Summary (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Stockpiles And Ore On Leach Pads    
Current stockpiles and ore on leach pads $ 857 $ 827
Non-current stockpiles and ore on leach pads 1,775 1,705
Stockpiles and ore on leach pads 2,632 2,532
Stockpiles    
Stockpiles And Ore On Leach Pads    
Current stockpiles and ore on leach pads 491 514
Non-current stockpiles and ore on leach pads 1,442 1,446
Stockpiles and ore on leach pads 1,933 1,960
Ore on Leach Pads    
Stockpiles And Ore On Leach Pads    
Current stockpiles and ore on leach pads 366 313
Non-current stockpiles and ore on leach pads 333 259
Stockpiles and ore on leach pads $ 699 $ 572
v3.22.0.1
STOCKPILES AND ORE ON LEACH PADS - Write-downs (Details) - Stockpiles and ore on leach pads - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Yanacocha      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads $ 25 $ 24 $ 21
Nevada Gold Mines      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 18 40 18
CC&V      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 21   15
Boddington      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads     22
Akyem      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads     34
Carlin      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads     44
Twin Creeks      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads     3
Costs applicable to sales      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 45 42 112
Depreciation and amortization      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads $ 19 $ 22 $ 45
v3.22.0.1
PROPERTY, PLANT AND MINE DEVELOPMENT (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Property, Plant and Equipment    
Cost, including finance lease right of use assets $ 40,113 $ 38,181
Accumulated depreciation, including finance lease right of use assets (15,989) (13,900)
Net Book Value, including finance lease right of use assets 24,124 24,281
Finance lease right of use assets $ 619 666
Minimum    
Property, Plant and Equipment    
Depreciable Life (in years) 1 year  
Maximum    
Property, Plant and Equipment    
Depreciable Life (in years) 23 years  
Land     
Property, Plant and Equipment    
Cost $ 260 259
Net Book Value 260 259
Facilities and equipment    
Property, Plant and Equipment    
Cost, including finance lease right of use assets 18,829 18,346
Accumulated depreciation, including finance lease right of use assets (10,487) (9,628)
Net Book Value, including finance lease right of use assets $ 8,342 8,718
Facilities and equipment | Minimum    
Property, Plant and Equipment    
Depreciable Life (in years) 1 year  
Facilities and equipment | Maximum    
Property, Plant and Equipment    
Depreciable Life (in years) 23 years  
Mine development     
Property, Plant and Equipment    
Cost $ 5,419 4,429
Accumulated depreciation (3,133) (2,608)
Net Book Value $ 2,286 1,821
Mine development  | Minimum    
Property, Plant and Equipment    
Depreciable Life (in years) 1 year  
Mine development  | Maximum    
Property, Plant and Equipment    
Depreciable Life (in years) 23 years  
Mineral interests     
Property, Plant and Equipment    
Cost $ 13,296 12,673
Accumulated depreciation (2,369) (1,664)
Net Book Value 10,927 11,009
Mineral Interests, Cost 13,296 12,673
Mineral Interests Accumulated Depreciation (2,369) (1,664)
Mineral Interests Net Book Value $ 10,927 11,009
Mineral interests  | Minimum    
Property, Plant and Equipment    
Depreciable Life (in years) 1 year  
Mineral interests  | Maximum    
Property, Plant and Equipment    
Depreciable Life (in years) 23 years  
Construction-in-progress     
Property, Plant and Equipment    
Cost $ 2,309 2,474
Net Book Value 2,309 2,474
Production stage     
Property, Plant and Equipment    
Mineral Interests, Cost 8,712 8,324
Mineral Interests Accumulated Depreciation (2,369) (1,664)
Mineral Interests Net Book Value 6,343 6,660
Development stage     
Property, Plant and Equipment    
Mineral Interests, Cost 1,000 1,106
Mineral Interests Net Book Value 1,000 1,106
Exploration stage     
Property, Plant and Equipment    
Mineral Interests, Cost 3,584 3,243
Mineral Interests Net Book Value $ 3,584 $ 3,243
v3.22.0.1
PROPERTY, PLANT AND MINE DEVELOPMENT - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Property, Plant And Mine Development    
Construction-in-progress $ 2,309 $ 2,474
North America    
Property, Plant And Mine Development    
Construction-in-progress 231 212
South America    
Property, Plant And Mine Development    
Construction-in-progress 964 1,476
Australia    
Property, Plant And Mine Development    
Construction-in-progress 488 365
Africa    
Property, Plant And Mine Development    
Construction-in-progress 447 275
Nevada    
Property, Plant And Mine Development    
Construction-in-progress $ 138 $ 123
v3.22.0.1
GOODWILL (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2021
Goodwill [Roll Forward]    
Goodwill balance $ 2,674  
Additions 97  
Goodwill balance 2,771  
Goodwill 2,771 $ 2,771
North America    
Goodwill [Roll Forward]    
Goodwill balance 1,964  
Additions 80  
Goodwill balance 2,044  
Goodwill 2,044 2,044
South America    
Goodwill [Roll Forward]    
Goodwill balance 442  
Additions 17  
Goodwill balance 459  
Goodwill 459 459
Australia    
Goodwill [Roll Forward]    
Goodwill balance 0  
Additions 0  
Goodwill balance 0  
Goodwill 0 0
Nevada    
Goodwill [Roll Forward]    
Goodwill balance 268  
Additions 0  
Goodwill balance 268  
Goodwill $ 268 $ 268
v3.22.0.1
DEBT - Long-term Debt (Details) - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Mar. 31, 2020
Sep. 30, 2019
Mar. 31, 2012
Sep. 30, 2009
Mar. 31, 2005
Debt              
Current $ 87,000,000 $ 551,000,000          
Non-Current 5,565,000,000 5,480,000,000          
Fair Value 6,712,000,000 7,586,000,000          
2021 Senior Notes, net              
Debt              
Debt instrument principal amount $ 550,000,000            
Debt instrument, interest rate (as a percent) 3.625%            
Current $ 0 551,000,000          
Non-Current 0 0          
Fair Value $ 0 556,000,000          
2022 Senior Notes, net              
Debt              
Debt instrument principal amount         $ 1,500,000,000    
Debt instrument, interest rate (as a percent) 3.50%            
Current $ 0 0          
Non-Current 0 491,000,000          
Fair Value 0 512,000,000          
2023 Senior Notes, net              
Debt              
Debt instrument principal amount $ 1,000,000,000            
Debt instrument, interest rate (as a percent) 3.70%            
Current $ 87,000,000 0          
Non-Current 0 418,000,000          
Fair Value 90,000,000 441,000,000          
2029 Senior Notes, net              
Debt              
Debt instrument principal amount       $ 700,000,000      
Debt instrument, interest rate (as a percent)       2.80%      
Current 0 0          
Non-Current 689,000,000 689,000,000          
Fair Value 726,000,000 770,000,000          
2030 Senior Notes, net              
Debt              
Debt instrument principal amount     $ 1,000,000,000        
Debt instrument, interest rate (as a percent)     2.25%        
Current 0 0          
Non-Current 985,000,000 984,000,000          
Fair Value 994,000,000 1,060,000,000          
2032 Senior Notes, net              
Debt              
Debt instrument principal amount $ 1,000,000,000            
Debt instrument, interest rate (as a percent) 2.60%            
Current $ 0 0          
Non-Current 990,000,000 0          
Fair Value 1,003,000,000 0          
2035 Senior Notes, net              
Debt              
Debt instrument principal amount             $ 600,000,000
Debt instrument, interest rate (as a percent)             5.875%
Current 0 0          
Non-Current 578,000,000 576,000,000          
Fair Value $ 790,000,000 886,000,000          
2039 Senior Notes, net              
Debt              
Debt instrument principal amount           $ 1,100,000,000  
Debt instrument, interest rate (as a percent) 6.25%            
Current $ 0 0          
Non-Current 860,000,000 859,000,000          
Fair Value $ 1,237,000,000 1,344,000,000          
2042 Senior Notes, net              
Debt              
Debt instrument principal amount         $ 1,000,000,000    
Debt instrument, interest rate (as a percent) 4.875%            
Current $ 0 0          
Non-Current 986,000,000 985,000,000          
Fair Value 1,270,000,000 1,375,000,000          
2044 Senior Notes, net              
Debt              
Debt instrument principal amount $ 450,000,000            
Debt instrument, interest rate (as a percent) 5.45%            
Current $ 0 0          
Non-Current 482,000,000 482,000,000          
Fair Value 602,000,000 642,000,000          
Corporate Revolving Credit Facilities              
Debt              
Debt issuance costs $ (5,000,000) $ (4,000,000)          
v3.22.0.1
DEBT - Maturities of long term debt (Details)
$ in Millions
Dec. 31, 2021
USD ($)
Scheduled minimum debt repayments  
2022 $ 0
2023 87
2024 0
2025 0
2026 0
Thereafter 5,624
Net carrying amount $ 5,711
v3.22.0.1
DEBT - Corporate Revolving Credit Facilities (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Sep. 30, 2020
Apr. 04, 2019
Debt        
Letters of credit, guarantees for reclamation obligations $ 1,927 $ 1,807    
Goldcorp        
Debt        
Letters of credit outstanding 354 326    
Letters of credit, guarantees for reclamation obligations 323 286    
BNP Paribas        
Debt        
Line of credit facility maximum borrowing capacity     $ 175  
Credit facility, amount outstanding $ 100      
Corporate Revolving Credit Facilities        
Debt        
Line of credit facility maximum borrowing capacity       $ 3,000
Maximum rate adjustment resulting from ESG scores 0.05%      
Letter of Credit        
Debt        
Letters of credit outstanding $ 0 $ 72    
v3.22.0.1
DEBT - 2019 and 2039 Senior Notes (Details) - USD ($)
 1 Months Ended
Sep. 30, 2009
Dec. 31, 2021
Mar. 31, 2016
2019 Senior Notes, net      
Debt      
Amount of debt repurchased     $ 226,000,000
2039 Senior Notes, net      
Debt      
Debt instrument principal amount $ 1,100,000,000    
Net proceeds $ 1,080,000,000    
Debt instrument, interest rate (as a percent)   6.25%  
v3.22.0.1
DEBT - 2021, 2023, 2044 Senior Notes (Details) - USD ($)
 1 Months Ended 12 Months Ended
Jan. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Apr. 18, 2019
Debt Instrument [Line Items]          
Debt payments   $ 1,382,000,000 $ 1,160,000,000 $ 1,876,000,000  
Existing Goldcorp Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount         $ 2,000,000,000
Goldcorp Note 3.625 Percent Due 2021          
Debt Instrument [Line Items]          
Debt instrument principal amount   472,000,000      
Goldcorp Note 3.70 Percent Due 2023          
Debt Instrument [Line Items]          
Debt instrument principal amount   810,000,000      
Amount of debt repurchased   4,000,000 99,000,000    
Goldcorp Note 3.70 Percent Due 2023 | Subsequent event          
Debt Instrument [Line Items]          
Amount of debt repurchased $ 90,000,000        
Debt instrument, principal payment 87,000,000        
Goldcorp Note 5.45 Percent Due 2044          
Debt Instrument [Line Items]          
Debt instrument principal amount   444,000,000      
New Newmont Note 3.625 Percent Due 2021          
Debt Instrument [Line Items]          
Debt instrument principal amount   78,000,000      
New Newmont Note 3.70 Percent Due 2023          
Debt Instrument [Line Items]          
Debt instrument principal amount   190,000,000      
Amount of debt repurchased   89,000,000 $ 487,000,000    
New Newmont Note 3.70 Percent Due 2023 | Subsequent event          
Debt Instrument [Line Items]          
Amount of debt repurchased 246,000,000        
Debt instrument, principal payment $ 234,000,000        
New Newmont Note 5.45 Percent Due 2044          
Debt Instrument [Line Items]          
Debt instrument principal amount   6,000,000      
2021 Senior Notes, net          
Debt Instrument [Line Items]          
Debt instrument principal amount   $ 550,000,000      
Debt instrument, interest rate (as a percent)   3.625%      
Debt payments   $ 557,000,000      
v3.22.0.1
DEBT - 2022 and 2042 Senior Notes, 2029 Senior Notes (Details) - USD ($)
 1 Months Ended 12 Months Ended
Sep. 30, 2019
Mar. 31, 2012
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Nov. 30, 2016
Debt            
Proceeds from issuance of debt, net     $ 992,000,000 $ 985,000,000 $ 690,000,000  
2022 Senior Notes, net            
Debt            
Debt instrument principal amount   $ 1,500,000,000        
Net proceeds   1,479,000,000        
Debt instrument, interest rate (as a percent)     3.50%      
Amount of debt repurchased     $ 496,000,000 $ 500,000,000   $ 508,000,000
Debt instrument, principal payment     $ 492,000,000      
2042 Senior Notes, net            
Debt            
Debt instrument principal amount   1,000,000,000        
Net proceeds   $ 983,000,000        
Debt instrument, interest rate (as a percent)     4.875%      
2029 Senior Notes, net            
Debt            
Debt instrument principal amount $ 700,000,000          
Debt instrument, interest rate (as a percent) 2.80%          
Proceeds from issuance of debt, net $ 690,000,000          
v3.22.0.1
DEBT - 2030 and 2032 Senior Notes (Details) - USD ($)
 1 Months Ended 12 Months Ended
Dec. 31, 2021
Mar. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Information pertaining to debt          
Proceeds from issuance of debt, net     $ 992,000,000 $ 985,000,000 $ 690,000,000
2030 Senior Notes | Senior Notes          
Information pertaining to debt          
Proceeds from issuance of debt, net   $ 985,000,000      
2032 Senior Notes, net          
Information pertaining to debt          
Debt instrument principal amount $ 1,000,000,000   $ 1,000,000,000    
Proceeds from issuance of debt, net $ 992,000,000        
Debt instrument, interest rate (as a percent) 2.60%   2.60%    
Maximum rate adjustment resulting from sustainability objectives 0.60%        
v3.22.0.1
DEBT - 2035 Senior Notes and Other Activity (Details) - 2035 Senior Notes, net
Mar. 31, 2005
USD ($)
Debt  
Debt instrument principal amount $ 600,000,000
Debt instrument, interest rate (as a percent) 5.875%
v3.22.0.1
DEBT - Debt Covenants (Details)
Dec. 31, 2021
Corporate Revolving Credit Facilities  
Information pertaining to debt  
Debt to capitalization ratio, maximum allowed under covenant (as a percent) 0.6250
v3.22.0.1
LEASE AND OTHER FINANCING OBLIGATIONS - Parameters and lease cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Lessee, Finance Lease, Description [Abstract]      
Renewal term (in years) 15 years    
Termination period (in years) 1 year    
Lease, Cost [Abstract]      
Operating lease cost $ 21 $ 21  
Amortization of ROU assets 85 88  
Interest on lease liabilities 36 37  
Finance lease cost, total 121 125  
Variable lease cost 393 335  
Short-term lease cost 36 24  
Lease cost, Total 571 505  
Operating cash flows relating to operating leases 17 18  
Operating cash flows relating to finance leases 36 31  
Financing cash flows relating to finance leases 73 66 $ 55
Operating lease obligations arising from obtaining ROU assets 35 76  
Finance lease obligations arising from obtaining ROU assets $ 41 $ 16  
Operating leases, weighted average remaining lease term (in years) 9 years    
Finance leases, weighted average remaining lease term (in years) 10 years    
Operating leases, weighted average discount rate (as a percent) 4.90%    
Finance leases, weighted average discount rate (as a percent) 5.45%    
Minimum      
Lessee, Finance Lease, Description [Abstract]      
Remaining lease term (in years) 1 year    
Lease, Cost [Abstract]      
Financing leases not yet commenced, lease terms (in years) 2 years    
Maximum      
Lessee, Finance Lease, Description [Abstract]      
Remaining lease term (in years) 37 years    
Lease, Cost [Abstract]      
Financing leases not yet commenced, lease terms (in years) 7 years    
v3.22.0.1
LEASE AND OTHER FINANCING OBLIGATIONS - Maturities (Details)
$ in Millions
Dec. 31, 2021
USD ($)
Operating Leases  
2022 $ 27
2023 22
2024 20
2025 12
2026 11
Thereafter 59
Total future minimum lease payments 151
Less: Imputed interest (23)
Operating lease liability 128
Finance Leases  
2022 100
2023 91
2024 83
2025 82
2026 76
Thereafter 403
Total future minimum lease payments 835
Less: Imputed interest (217)
Finance lease liability 618
Built-to-suit leases  
Lessee, Lease, Description [Line Items]  
Leases and other financing obligations $ 32
v3.22.0.1
LEASE AND OTHER FINANCING OBLIGATIONS - Additional information (Details)
$ in Millions
Dec. 31, 2021
USD ($)
Leases [Abstract]  
Financing leases not yet commenced, ROU assets $ 40
Financing leases not yet commenced, lease liabilities $ 40
v3.22.0.1
OTHER LIABILITIES (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Other current liabilities:    
Reclamation and remediation liabilities $ 273 $ 214
Accrued operating costs 201 285
Accrued capital expenditures 155 144
Payables to joint venture partners 114 94
Other 430 445
Other current liabilities 1,173 1,182
Other non-current liabilities:    
Income and mining taxes 328 382
Other 280 317
Other long-term liabilities, total $ 608 $ 699
Ownership interest (as a percent) 38.50% 38.50%
Income and mining taxes, penalties and interest $ 319 $ 367
Barrick Gold Corporation    
Other non-current liabilities:    
Ownership interest (as a percent) 61.50% 61.50%
v3.22.0.1
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​​ - Components of AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period $ 23,845 $ 22,370 $ 11,465
Gain (loss) in other comprehensive income (loss) before reclassifications 50 (57)  
(Gain) loss reclassified from accumulated other comprehensive income (loss) 33 106  
Other comprehensive income (loss) 83 49 19
Balance at end of period 21,813 23,845 22,370
Total      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period (216) (265) (284)
Other comprehensive income (loss) 83 49 19
Balance at end of period (133) (216) (265)
Unrealized Gain (Loss) on Marketable Debt Securities      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period 0 5  
Gain (loss) in other comprehensive income (loss) before reclassifications 2 0  
(Gain) loss reclassified from accumulated other comprehensive income (loss) 0 (5)  
Other comprehensive income (loss) 2 (5)  
Balance at end of period 2 0 5
Foreign Currency Translation Adjustments      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period 117 119  
Gain (loss) in other comprehensive income (loss) before reclassifications 2 (2)  
(Gain) loss reclassified from accumulated other comprehensive income (loss) 0 0  
Other comprehensive income (loss) 2 (2)  
Balance at end of period 119 117 119
Pension and Other Post-retirement Benefit Adjustments      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period (237) (281)  
Gain (loss) in other comprehensive income (loss) before reclassifications 45 (51)  
(Gain) loss reclassified from accumulated other comprehensive income (loss) 26 95  
Other comprehensive income (loss) 71 44  
Balance at end of period (166) (237) (281)
Unrealized Gain (Loss) on Cash flow Hedge Instruments      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period (96) (108)  
Gain (loss) in other comprehensive income (loss) before reclassifications 1 (4)  
(Gain) loss reclassified from accumulated other comprehensive income (loss) 7 16  
Other comprehensive income (loss) 8 12  
Balance at end of period $ (88) $ (96) $ (108)
v3.22.0.1
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​ - Reclassifications (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Other income, net $ 87 $ 32 $ (297)
Interest expense, net 274 308 301
Costs applicable to sales [1] 5,435 5,014 5,195
Total before tax (1,108) (3,143) (3,693)
Tax (1,098) (704) (832)
Net of tax (233) (2,791) (2,884)
Charges from debt extinguishment   (77) 0
Interest rate contracts      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Charges from debt extinguishment 1 (8)  
Reclassification Out of Accumulated Other Comprehensive Income      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Net of tax 33 106 3
Reclassification Out of Accumulated Other Comprehensive Income | Marketable debt securities adjustments:      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Other income, net 0 (5) 0
Total before tax 0 (5) 0
Tax 0 0 0
Net of tax 0 (5) 0
Reclassification Out of Accumulated Other Comprehensive Income | Pension and other post-retirement benefit adjustments:      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Total before tax 31 120 (9)
Tax (5) (25) 0
Net of tax 26 95 (9)
Reclassification Out of Accumulated Other Comprehensive Income | Amortization      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Other income, net 27 28 14
Reclassification Out of Accumulated Other Comprehensive Income | Curtailment      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Other income, net 0 0 (23)
Reclassification Out of Accumulated Other Comprehensive Income | Settlement      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Other income, net 4 92 0
Reclassification Out of Accumulated Other Comprehensive Income | Hedge instruments adjustments:      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Total before tax 9 19 14
Tax (2) (3) 2
Net of tax 7 16 12
Reclassification Out of Accumulated Other Comprehensive Income | Hedge instruments adjustments: | Interest rate contracts      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Interest expense, net 8 17 11
Reclassification Out of Accumulated Other Comprehensive Income | Hedge instruments adjustments: | Operating cash flow hedges      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Costs applicable to sales $ 1 $ 2 $ 3
[1] Excludes Depreciation and amortization and Reclamation and remediation.
v3.22.0.1
NET CHANGE IN OPERATING ASSETS AND LIABILITIES (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Decrease (increase) in operating assets:      
Trade and other receivables  $ 142 $ 29 $ (193)
Inventories, stockpiles and ore on leach pads  (136) (139) (132)
Other assets  36 34 29
Increase (decrease) in operating liabilities:      
Accounts payable (11) (50) 144
Reclamation and remediation liabilities  (161) (101) (102)
Accrued tax liabilities (317) 378 47
Other accrued liabilities (94) 144 (102)
Net change in operating assets and liabilities $ (541) $ 295 $ (309)
v3.22.0.1
COMMITMENTS AND CONTINGENCIES - Environmental Matters (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2021
USD ($)
plant
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2012
USD ($)
Loss contingencies        
Number of operating water treatment plants | plant 5      
Environmental remediation obligations $ 344 $ 313 $ 299  
Midnite Mine        
Loss contingencies        
Department of Interior contribution for past and future cleanup costs       $ 42
Midnite mine and Dawn mill sites        
Loss contingencies        
Environmental remediation obligations 172      
CC&V        
Loss contingencies        
Environmental remediation obligations $ 10      
Minera Yanacocha        
Loss contingencies        
Percent ownership held by Newmont (as a percent) 51.35%      
Increase in asset retirement obligation $ 1,597      
Reclamation adjustments and other 1,554      
Reclamation expense for producing areas $ 43      
Dawn Mining Company        
Loss contingencies        
Percent ownership held by Newmont (as a percent) 58.19%      
CC&V        
Loss contingencies        
Percent ownership held by Newmont (as a percent) 100.00%      
v3.22.0.1
COMMITMENTS AND CONTINGENCIES - Other Legal Matters - Yanacocha (Details)
 1 Months Ended 3 Months Ended 12 Months Ended
Jan. 18, 2019
vote
judge
Jan. 31, 2022
USD ($)
Oct. 31, 2021
USD ($)
Nov. 30, 2015
judgment
Mar. 31, 2020
USD ($)
Dec. 31, 2021
USD ($)
unit
$ / unit
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2000
USD ($)
Feb. 24, 2022
Loss contingencies                    
Income tax expense (benefit)           $ 1,098,000,000 $ 704,000,000 $ 832,000,000    
Minera Yanacocha                    
Loss contingencies                    
Percent ownership held by Newmont (as a percent)           51.35%        
Minera Yanacocha | Subsequent event                    
Loss contingencies                    
Percent ownership held by Newmont (as a percent)                   95.00%
Contractual right to conduct exploration                    
Loss contingencies                    
Intangible asset acquired                 $ 29,000,000  
Intangible asset, useful life (in years)                 10 years  
Yanacocha Tax Dispute                    
Loss contingencies                    
Number of rulings overturned | judgment       2            
Number of judges supporting tax authority | judge 3                  
Number of judges supporting Yanacocha position | judge 2                  
Number of votes required | vote 4                  
Tax settlement         $ 29,000,000          
Potential interest disputed     $ 80,000,000              
Income tax expense (benefit)           $ 55,000,000        
Yanacocha Tax Dispute, Filed Action #1                    
Loss contingencies                    
Potential interest disputed             50,000,000      
Yanacocha Tax Dispute, Filed Action #2 | Maximum                    
Loss contingencies                    
Potential interest disputed             $ 73,000,000      
Yanacocha Tax Dispute, Filed Action #3                    
Loss contingencies                    
Potential interest disputed           68,000,000        
Yanacocha Tax Dispute, Filed Action #4 | Subsequent event                    
Loss contingencies                    
Potential interest disputed   $ 72,000,000                
Yanacocha Tax Dispute, Filed Action #4 | Subsequent event | Pending Litigation                    
Loss contingencies                    
Tax settlement paid   $ 73,000,000                
Minera Yanacocha | Minimum                    
Loss contingencies                    
Potential fine for alleged violations           0        
Minera Yanacocha | Maximum                    
Loss contingencies                    
Potential fine for alleged violations           $ 0.01        
Minera Yanacocha | OEFA                    
Loss contingencies                    
Potential fine for each unit alleged violations (in dollars per unit) | $ / unit           0.001110        
Minera Yanacocha | Water Authority | Minimum                    
Loss contingencies                    
Number of units with alleged violations | unit           0        
Minera Yanacocha | Water Authority | Maximum                    
Loss contingencies                    
Number of units with alleged violations | unit           10        
v3.22.0.1
COMMITMENTS AND CONTINGENCIES - Other Legal Matters - NWG, etc. (Details)
$ in Millions
 1 Months Ended 3 Months Ended
Aug. 16, 2021
USD ($)
Dec. 24, 2018
co-defendant
plaintiff
Feb. 26, 2014
USD ($)
Sep. 24, 2012
USD ($)
Apr. 08, 2008
Aug. 31, 2020
USD ($)
Dec. 31, 2021
USD ($)
Jun. 30, 2019
USD ($)
Sep. 30, 2007
Holt option | Use rights                  
Loss contingencies                  
Purchase of option for mining and mineral rights           $ 75      
Mexican Tax Authority                  
Loss contingencies                  
Tax settlement paid             $ 76 $ 96  
Newmont Ghana Gold Limited and Newmont Golden Ridge Limited                  
Loss contingencies                  
Economic interest (as a percent)             100.00%    
Goldcorp                  
Loss contingencies                  
Economic interest (as a percent)             100.00%    
Pending Litigation | Labrador                  
Loss contingencies                  
Uranium mining moratorium term (in years)         3 years        
NWG New York Case | Pending Litigation                  
Loss contingencies                  
Damages sought       $ 750          
NWG Ontario Complaint | Pending Litigation                  
Loss contingencies                  
Damages sought     $ 1,200            
Ghana Parliament Cases                  
Loss contingencies                  
Loss contingency number of plaintiffs | plaintiff   2              
Number of codefendants | co-defendant   33              
Kirkland Royalty Matter | Pending Litigation                  
Loss contingencies                  
Damages sought $ 350                
Jacob Safra | NWG Investments Inc                  
Loss contingencies                  
Economic interest (as a percent)                 100.00%
NWG Investments Inc | NewWest Gold                  
Loss contingencies                  
Economic interest (as a percent)                 86.00%
Fronteer | Aurora                  
Loss contingencies                  
Economic interest (as a percent)                 47.00%
v3.22.0.1
COMMITMENTS AND CONTINGENCIES - Other Commitments and Contingencies (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Other commitments    
Letters of credit surety bonds and bank guarantees, outstanding $ 1,927 $ 1,807
Galore Creek    
Other commitments    
Deferred payments 75  
Norte Abierto Project    
Other commitments    
Deferred payments $ 124 $ 156
v3.22.0.1
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS (Details) - Valuation Allowance of Deferred Tax Assets - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS      
Balance at beginning of year $ 3,418 $ 3,112 $ 2,994
Additions due to acquisition of Goldcorp 0 86 521
Additions to deferred income tax expense 769 372 97
Reduction of deferred income tax expense (350) (186) (392)
Re-classification to Assets Held for Sale 0 0 (371)
Additions and reductions reflected in other components of the financial statements (46)    
Additions and reductions reflected in other components of the financial statements   (34) (263)
Balance at end of year $ 3,791 $ 3,418 $ 3,112
v3.22.0.1
Label Element Value
Accounting Standards Update [Extensible Enumeration] us-gaap_AccountingStandardsUpdateExtensibleList Accounting Standards Update 2016-02 [Member]