NEWMONT CORP /DE/, 10-K filed on 2/19/2026
Annual Report
v3.25.4
Cover - USD ($)
 12 Months Ended
Dec. 31, 2025
Feb. 12, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
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    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 64,108,664,771
Entity Common Stock, Shares Outstanding   1,087,874,212  
Documents Incorporated by Reference Portions of Registrant’s definitive Proxy Statement for the Registrant’s 2026 Annual Stockholders Meeting will be filed no later than 120 days after the close of the Registrant's fiscal year ended December 31, 2025, are incorporated by reference into Part III of this report.    
Entity Central Index Key 0001164727    
Amendment Flag false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
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
v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Sales (Note 5) $ 22,669 $ 18,682 $ 11,812
Costs and expenses:      
Costs applicable to sales [1] 8,085 8,963 6,699
Depreciation and amortization 2,521 2,576 2,108
Reclamation and remediation (Note 6) 249 328 1,533
Exploration 243 266 265
Advanced projects, research and development 166 197 200
General and administrative 382 442 299
Impairment charges 842 78 1,891
(Gain) loss on sale of assets held for sale (1,066) 1,114 0
Other expense, net (Note 8) 286 191 517
Total costs and expenses 11,708 14,155 13,512
Other income (expense):      
Change in fair value of investments and options 604 62 (47)
Other income (loss), net (Note 9) 6 363 (41)
Interest expense, net of capitalized interest of $144, $114 and $89, respectively (229) (375) (243)
Total other income (expense) 381 50 (331)
Income (loss) before income and mining tax and other items 11,342 4,577 (2,031)
Income and mining tax benefit (expense) (Note 10) (4,596) (1,397) (526)
Equity income (loss) of affiliates (Note 15) 421 133 63
Net income (loss) from continuing operations 7,167 3,313 (2,494)
Net income (loss) from discontinued operations (Note 1) 0 68 27
Net income (loss) 7,167 3,381 (2,467)
Net loss (income) attributable to non-controlling interests (Note 1) (82) (33) (27)
Net income (loss) attributable to Newmont stockholders 7,085 3,348 (2,494)
Net income (loss) attributable to Newmont stockholders:      
Continuing operations 7,085 3,280 (2,521)
Discontinued operations 0 68 27
Net income (loss) attributable to Newmont stockholders $ 7,085 $ 3,348 $ (2,494)
Weighted average common shares:      
Basic (in shares) 1,106 1,146 841
Effect of employee stock-based awards (in shares) 2 2 0
Diluted (in shares) 1,108 1,148 841
Basic:      
Continuing operations (in dollars per share) $ 6.41 $ 2.86 $ (3.00)
Discontinued operations (in dollars per share) 0 0.06 0.03
Net income (loss) per common share, basic (in dollars per share) 6.41 2.92 (2.97)
Diluted      
Continuing operations (in dollars per share) [2] 6.39 2.86 (3.00)
Discontinued operations (in dollars per share) [2] 0 0.06 0.03
Net income (loss) per common share, diluted (in dollars per share) $ 6.39 $ 2.92 $ (2.97)
[1] Excludes Depreciation and amortization and Reclamation and remediation.
[2] For the year ended December 31, 2023, potentially dilutive shares were excluded in the computation of diluted loss per common share attributable to Newmont stockholders as they were antidilutive.
v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Capitalized interest $ 144 $ 114 $ 89
v3.25.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net income (loss) $ 7,167 $ 3,381 $ (2,467)
Other comprehensive income (loss):      
Change in cash flow hedges, net of tax 234 (123) (1)
Other adjustments, net of tax (2) 14 (14)
Other comprehensive income (loss) 232 (109) (15)
Comprehensive income (loss) 7,399 3,272 (2,482)
Comprehensive income (loss) attributable to:      
Newmont stockholders 7,317 3,239 (2,509)
Noncontrolling interests 82 33 27
Comprehensive income (loss) $ 7,399 $ 3,272 $ (2,482)
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
Cash and cash equivalents $ 7,647 $ 3,619
Trade receivables (Note 5) 1,067 1,056
Investments (Note 15) 594 21
Inventories (Note 16) 1,512 1,423
Stockpiles and ore on leach pads (Note 17) 1,177 761
Other receivables 678 496
Other current assets 391 290
Assets held for sale (Note 3) 0 4,609
Current assets 13,066 12,275
Property, plant and mine development, net (Note 18) 33,310 33,547
Investments ($212 valued under fair value option at December 31, 2024) (Note 15) 4,186 4,471
Stockpiles and ore on leach pads (Note 17) 2,410 2,266
Deferred income tax assets (Note 10) 45 124
Goodwill (Note 19) 2,658 2,658
Other non-current assets 1,446 1,008
Total assets 57,121 56,349
LIABILITIES    
Accounts payable 816 843
Employee-related benefits (Note 11) 898 630
Income and mining taxes (Note 10) 1,188 381
Lease and other financing obligations (Note 21) 118 107
Debt (Note 20) 0 924
Other current liabilities ($339 valued under fair value option at December 31, 2025) (Note 22) 2,692 2,481
Liabilities held for sale (Note 3) 0 2,177
Current liabilities 5,712 7,543
Debt (Note 20) 5,115 7,552
Lease and other financing obligations (Note 21) 356 389
Reclamation and remediation liabilities (Note 6) 6,297 6,394
Deferred income tax liabilities (Note 10) 4,045 2,820
Employee-related benefits (Note 11) 634 555
Silver streaming agreement (Note 5) 598 699
Other non-current liabilities ($51 valued under fair value option at December 31, 2024) (Note 22) 322 288
Total liabilities 23,079 26,240
Commitments and contingencies (Note 24)
EQUITY    
Common stock - $1.60 par value; 1,753 1,813
Treasury stock - 7 million and 7 million shares, respectively (301) (278)
Additional paid-in capital 28,847 29,808
Accumulated other comprehensive income (loss) (Note 23) 137 (95)
Retained earnings (Accumulated deficit) 3,431 (1,320)
Newmont stockholders' equity 33,867 29,928
Noncontrolling interests 175 181
Total equity 34,042 30,109
Total liabilities and equity $ 57,121 $ 56,349
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
shares in Thousands, $ in Millions
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Marketable equity and other securities   $ 212
Greatland option, current portion $ 339 0
Greatland option, noncurrent portion   $ 51
Common stock, par value (in dollars per share) $ 1.60 $ 1.60
Common stock, authorized (in shares) 2,550,000 2,550,000
Common stock, issued (in shares) 1,089,000 1,127,000
Common stock, outstanding (in shares) 1,089,000 1,127,000
Treasury shares (in shares) 7,000 7,000
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net income (loss) $ 7,167 $ 3,381 $ (2,467)
Adjustments:      
Depreciation and amortization 2,521 2,576 2,108
Impairment charges 842 78 1,891
(Gain) loss on sale of assets held for sale (1,066) 1,114 0
Net loss (income) from discontinued operations 0 (68) (27)
Deferred income taxes 1,391 80 (104)
Change in fair value of investments and options (604) (62) 47
Reclamation and remediation 219 302 1,506
Loss (gain) on debt extinguishment 101 (32) 0
Stock-based compensation 99 89 80
Other non-cash adjustments (126) (115) 233
Change in operating assets and liabilities:      
Trade and other receivables (93) (441) (240)
Inventories, stockpiles and ore on leach pads (454) (534) (187)
Other assets (247) 64 50
Accounts payable (19) (2) (42)
Reclamation and remediation liabilities (803) (433) (275)
Accrued tax liabilities 1,039 235 (197)
Other accrued liabilities 367 86 378
Net cash provided by (used in) operating activities of continuing operations 10,334 6,318 2,754
Net cash provided by (used in) operating activities of discontinued operations 0 45 9
Net cash provided by (used in) operating activities 10,334 6,363 2,763
Investing activities:      
Additions to property, plant and mine development (3,035) (3,402) (2,666)
Proceeds from sales of mining operations and other assets, net 2,811 560 0
Proceeds from sales of investments 986 21 234
Return of investment from equity method investees 62 56 36
Contributions to equity method investees (59) (96) (108)
Purchases of investments (14) (66) (551)
Maturities of investments 0 28 1,363
Acquisitions, net [1] 0 0 668
Other (145) 44 22
Net cash provided by (used in) investing activities of continuing operations 606 (2,855) (1,002)
Net cash provided by (used in) investing activities of discontinued operations 0 153 0
Net cash provided by (used in) investing activities 606 (2,702) (1,002)
Financing activities:      
Repayment of debt (3,430) (3,860) 0
Repurchases of common stock (2,303) (1,246) 0
Dividends paid to common stockholders (1,106) (1,145) (1,415)
Distributions to noncontrolling interests (217) (161) (150)
Funding from noncontrolling interests 133 115 138
Payments on lease and other financing obligations (95) (87) (67)
Payments for withholding of employee taxes related to stock-based compensation (23) (14) (25)
Proceeds from issuance of debt, net 0 3,476 0
Other 1 (31) (84)
Net cash provided by (used in) financing activities (7,040) (2,953) (1,603)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (4) (20) (2)
Net change in cash, cash equivalents and restricted cash, including cash and restricted cash reclassified to assets held for sale 3,896 688 156
Less: Cash and restricted cash reclassified to assets held for sale [2] 138 (138) 0
Net change in cash, cash equivalents and restricted cash 4,034 550 156
Cash, cash equivalents and restricted cash at beginning of period  3,650 3,100 2,944
Cash, cash equivalents and restricted cash at end of period  7,684 3,650 3,100
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 7,647 3,619 3,002
Restricted cash included in Other current assets 3 1 11
Restricted cash included in Other non-current assets 34 30 87
Total cash, cash equivalents and restricted cash 7,684 3,650 3,100
Supplemental cash flow information:      
Interest paid, net of amounts capitalized $ 233 $ 317 $ 228
[1]
(1)Acquisitions, net is related to the cash acquired in the Newcrest transaction for the year ended December 31, 2023. Refer to Note 3 for additional information.
[2] During the first quarter of 2024, certain non-core assets were determined to meet the criteria for assets held for sale. As a result, at December 31, 2024 the related assets, including $45 of Cash and cash equivalents and $93 of restricted cash, included in Other current assets and Other non-current assets, were reclassified to Assets held for sale. At December 31, 2025, no amounts relating to Cash and cash equivalents and restricted cash remained in Assets held for sale. Refer to Note 3 for additional information.
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - Discontinued Operations, Held-for-Sale - Portfolio Optimization Program - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Cash and cash equivalents $ 0 $ 45,000,000
Restricted cash and restricted cash equivalents $ 0 $ 93,000,000
v3.25.4
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)
shares in Thousands, $ in Millions
Total
Common Stock
Treasury Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings (Accumulated Deficit)
Noncontrolling Interests
Common stock beginning of period (in shares) at Dec. 31, 2022   799,000          
Balance at beginning of period at Dec. 31, 2022 $ 19,533 $ 1,279 $ (239) $ 17,369 $ 29 $ 916 $ 179
Treasury stock beginning of period (in shares) at Dec. 31, 2022     (6,000)        
Changes in Equity              
Net income (loss) (2,467)         (2,494) 27
Other comprehensive income (loss) (15)       (15)    
Shares issued for Newcrest transaction (in shares)   358,000          
Shares issued for the Newcrest transaction 13,549 $ 572   12,977      
Dividends declared [1] (1,418)         (1,418)  
Distributions declared to noncontrolling interests (156)           (156)
Cash calls requested from noncontrolling interests 128           128
Withholding of employee taxes related to stock-based compensation (in shares)     (1,000)        
Withholding of employee taxes related to stock-based compensation (25)   $ (25)        
Stock-based awards and related share issuances (in shares)   2,000          
Stock-based awards and related share issuances 76 $ 3   73      
Common stock at end of period (in shares) at Dec. 31, 2023   1,159,000          
Balance at end of period at Dec. 31, 2023 29,205 $ 1,854 $ (264) 30,419 14 (2,996) 178
Treasury stock at end of period (in shares) at Dec. 31, 2023     (7,000)        
Changes in Equity              
Net income (loss) 3,381         3,348 33
Other comprehensive income (loss) (109)       (109)    
Dividends declared [1] (1,148)         (1,148)  
Distributions declared to noncontrolling interests (156)           (156)
Cash calls requested from noncontrolling interests 126           126
Repurchase and retirement of common stock (in shares)   (26,000)          
Repurchase and retirement of common stock (2)(3) (1,259) $ (42)   (693)   (524)  
Withholding of employee taxes related to stock-based compensation (in shares)     0        
Withholding of employee taxes related to stock-based compensation (14)   $ (14)        
Stock-based awards and related share issuances (in shares)   1,000          
Stock-based awards and related share issuances $ 83 $ 1   82      
Common stock at end of period (in shares) at Dec. 31, 2024 1,127,000 1,134,000          
Balance at end of period at Dec. 31, 2024 $ 30,109 $ 1,813 $ (278) 29,808 (95) (1,320) 181
Treasury stock at end of period (in shares) at Dec. 31, 2024 (7,000)   (7,000)        
Changes in Equity              
Net income (loss) $ 7,167         7,085 82
Other comprehensive income (loss) 232       232    
Dividends declared [1] (1,108)         (1,108)  
Distributions declared to noncontrolling interests (217)           (217)
Cash calls requested from noncontrolling interests 129           129
Repurchase and retirement of common stock (in shares)   (39,000)          
Repurchase and retirement of common stock (2)(3) (2,326) $ (63)   (1,037)   (1,226)  
Withholding of employee taxes related to stock-based compensation (23)   $ (23)        
Stock-based awards and related share issuances (in shares)   1,000          
Stock-based awards and related share issuances $ 79 $ 3   76      
Common stock at end of period (in shares) at Dec. 31, 2025 1,089,000 1,096,000          
Balance at end of period at Dec. 31, 2025 $ 34,042 $ 1,753 $ (301) $ 28,847 $ 137 $ 3,431 $ 175
Treasury stock at end of period (in shares) at Dec. 31, 2025 (7,000)   (7,000)        
[1] Cash dividends paid per common share was $1.00, $1.00 and $1.60 for 2025, 2024 and 2023, respectively. Dividends declared and dividends paid to common stockholders differ by $2, $3, and $3 for 2025, 2024 and 2023, respectively, due to timing.
v3.25.4
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Parenthetical) - USD ($)
$ in Millions
 2 Months Ended 12 Months Ended
Feb. 19, 2026
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash dividends paid per common share (in dollars per share)   $ 1.00 $ 1.00 $ 1.60
Dividends declared and dividends paid to common stockholders, difference due to timing   $ 2 $ 3 $ 3
Excise tax payable, noncurrent   23    
Repurchase and retirement of common stock   2,326 1,259  
Subsequent event        
Repurchase and retirement of common stock $ 75      
Common Stock        
Repurchase and retirement of common stock   $ 63 $ 42  
v3.25.4
THE COMPANY
 12 Months Ended
Dec. 31, 2025
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.”), Papua New Guinea, Australia, Ghana, Suriname, Argentina, Dominican Republic, Chile, Peru, Ecuador, Mexico, and Canada. 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.
Reportable Segments
In October 2025, the Company declared commercial production at its Ahafo North project in Ghana resulting in classification as a reportable segment. Prior to declaration of commercial production, Ahafo North was classified as a development project and all activity was included in the Ahafo South reportable segment up to the date of commercial production. Although not a reportable segment until the fourth quarter of 2025, the amounts related to Ahafo North have been reported separately for comparability purposes. Refer to Note 4 for further information.
Divestiture of Non-core Assets
The Company completed the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024, the sale of the CC&V, Musselwhite, and Éléonore reportable segments in the first quarter of 2025, the sale of the Porcupine and Akyem reportable segments in the second quarter of 2025, and the sale of the Coffee development project in the fourth quarter of 2025. Refer to Note 3 for further information on the Company's divestitures.
Newcrest Transaction
On November 6, 2023, the Company completed its business combination transaction with Newcrest Mining Limited, a public Australian mining company limited by shares ("Newcrest"), whereby Newmont, through Newmont Overseas Holdings Pty Ltd, an Australian proprietary company limited by shares (“Newmont Sub”), acquired all of the ordinary shares of Newcrest in a fully stock transaction for total non-cash consideration of $13,549. Newcrest became a direct wholly owned subsidiary of Newmont Sub and an indirect wholly owned subsidiary of Newmont (such acquisition, the “Newcrest transaction”). The combined company continues to be traded on the New York Stock Exchange under the ticker NEM. The combined company is also listed on the Australian Securities Exchange under the ticker NEM and on the Papua New Guinea Securities Exchange under the ticker NEM. Refer to Note 3 for further information.
Noncontrolling Interests
Newmont has a 75% economic interest in Suriname Gold project C.V. (“Merian”), with the remaining interests held by Staatsolie Maatschappij Suriname N.V., 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 December 31, 2025, 2024, and 2023, the Company recognized income of $82, $33, and $27, respectively, within Net loss (income) attributable to non-controlling interests related to Merian.
Discontinued Operations
Net income (loss) from discontinued operations included results related to the Batu Hijau and Elang contingent consideration assets obtained in connection with the sale of PT Newmont Nusa Tenggara in 2016. In the third quarter of 2024, the Company sold these contingent consideration assets for cash consideration of $153, resulting in a gain of $15 included in Net income (loss) from discontinued operations. Following this sale, the Company no longer has discontinued operations activity.
For the years ended December 31, 2024 and 2023, the Company recorded income of $68 and $27, net of a tax benefit (expense) of $31 and $(5), respectively, within Net income (loss) from discontinued operations. The Company received $45 and $9 for the years ended December 31, 2024 and 2023, respectively, related to discontinued operations.
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2025
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.
The Company's global operations expose it to risks associated with public health crises, geopolitical and macroeconomic pressures, including but not limited to inflationary conditions, as well as the effects of certain countermeasures taken by central banks, supply chain disruptions resulting from global conflicts and other global events, and an uncertain and evolving labor market.
Factors that could have further potential short- and, possibly, long-term material adverse impacts on the Company include, but are not limited to, volatility in commodity prices and the prices for gold and other metals, changes in the equity and debt markets or country-specific factors adversely impacting discount rates, significant cost inflation impacts on production, capital and asset retirement costs, logistical challenges, workforce interruptions and financial market disruptions, energy market disruptions, as well as potential impacts to estimated costs and timing of projects.
The Company had previously extended the timeline of a full-funds decision for its Yanacocha Sulfides development project. The delay of the project was intended to focus funds on current operations and other capital commitments while management assessed execution and project options, up to and including transitioning the Yanacocha operations into full closure. During the year, the Company reassessed its strategy in Peru and is progressing mine closure activities while prioritizing other future development opportunities at Yanacocha ahead of any future re-evaluation of the Yanacocha Sulfides project, resulting in an indefinite deferral of the future development of this project and the impairment of the balances included in assets under construction and deferred mine development for the project. As of December 31, 2025, the Yanacocha operations have total long-lived assets of approximately $374, inclusive of $78 of assets under construction related to the estimated sales value of project equipment. Refer to Note 7 for additional information on this impairment charge.
The Company continues to hold the Conga project in Peru. While the Company continues to evaluate its strategy and global project pipeline potential, particularly in Peru, the Company does not currently anticipate developing Conga in the next ten years, while it remains a part of its long-term development project pipeline; consistent with prior years, the Conga project remained temporarily idled in care and maintenance during 2025. Should the Company be unable to develop the Conga project or conclude that future development is not in the best interest of the business, the Company may consider other alternatives for the project, which may result in a future impairment charge for the remaining assets. The total assets at Conga were $883 and $892 at December 31, 2025 and 2024.
The Company's global operations also expose it to foreign currency exchange rates which can increase or decrease profits to the extent costs are paid in foreign currencies, including the Papua New Guinean kina, Australian dollar, the Ghanaian cedi, the Surinamese dollar, the Argentine peso, the Peruvian sol, the Mexican peso, and the Canadian dollar.
The Cerro Negro mine is located in Argentina which is a hyperinflationary economy as of December 31, 2025. The Cerro Negro mine is a USD functional currency entity with the majority of the activity historically having been denominated in USD. As a result, the devaluation of the Argentine peso has resulted in an immaterial impact on the Company's financial statements. Therefore, future devaluation is not expected to have a material impact on the Company's financial statements. 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 USD 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. The Company continues 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.
Use of Estimates
The Company’s Consolidated Financial Statements have been prepared in accordance with 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; valuation of assets held for sale; 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 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.
Business Combination and Asset Acquisition Accounting
The Company applies a screen test to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction should be accounted for as an asset acquisition or business combination.
When an acquisition does not meet the definition of a business combination because either: (i) substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset, or group of similar identified assets, or (ii) the acquired entity does not have an input and a substantive process that together significantly contribute to the ability to create outputs, the Company accounts for the acquisition as an asset acquisition. In an asset acquisition, goodwill is not recognized, but rather, any excess purchase consideration over the fair value of the net assets acquired is allocated on a relative fair value basis to the identifiable net assets as of the acquisition date and any direct acquisition-related transaction costs are capitalized as part of the purchase consideration.
When an acquisition is accounted for as a business combination, the Company recognizes and measures the assets acquired and liabilities assumed 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 in excess of the aggregate 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 discrete financial forecasts, long-term growth rates, appropriate discount rates, and expected future capital requirements. The market valuation method uses prices paid for a similar asset by other purchasers in the market, normalized for any differences between the assets. 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. During the measurement period, not to exceed one year from the date of acquisition, the Company may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill if new information is obtained related to facts and circumstances that existed as of the acquisition date. After the measurement period, any subsequent adjustments are reflected in the period the adjustment arises.
Assets Held for Sale
The Company classifies long-lived assets, or disposal groups comprising of assets and liabilities, as held for sale in the period in which the following six criteria are met, (i) management, having the authority to approve the action, commits to a plan to sell the property; (ii) the property is available for immediate sale in its present condition, subject only to terms that are usual and customary; (iii) an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; (iv) the sale of the property is probable and is expected to be completed within one year; (v) the property is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions necessary to complete the plan of sale indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.
The Company ceases depreciation and amortization on long-lived assets (or disposal groups) classified as held for sale, and measures them at the lower of carrying value or estimated fair value less cost to sell.
In determining the fair value of the assets less costs to sell, the Company considers factors including current sales prices for comparable assets, discounted cash flow projections, third party valuations and indicative offer information, if applicable. The Company’s assumptions about fair value require significant judgment because the current market is sensitive to changes in economic conditions, as well as asset-specific considerations. The fair value of assets held for sale is estimated based on the current market conditions and assumptions made by management, which may differ from actual results and could result in future impairments if market conditions deteriorate.
An impairment loss on the initial classification and subsequent measurement of an asset held for sale is recognized as an expense. Any subsequent increase in fair value less costs to sell (not exceeding the accumulated impairment loss that has been previously recognized) is recognized as a reversal of expense. Additional impairments may result as the Company continues to evaluate the fair value of assets held for sale and monitors market conditions and other economic factors.
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. Carrying values are evaluated at least quarterly, in accordance with the above.
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.
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 investments; proven and probable mineral reserves estimates, including the timing and cost to develop and produce the reserves; value beyond proven and probable mineral reserve estimates; estimated future closure costs; the use of appropriate discount rates; and applicable U.S. dollar long-term exchange 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 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
Time Deposits
Time deposits with an original maturity of more than three months but less than one year are included within Investments. These time deposits are carried at amortized cost. Accrued interest is recorded in Other income (loss), net.
Equity Method 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. The Company from time to time will elect the fair value option to account for its equity method investments if the fair value option better reflects the economics of its investment. Equity method investments accounted for under the fair value option are remeasured periodically with any changes in fair value recorded in Change in fair value of investments and options. Equity method investments are included in Investments and income (loss) from the Company's equity method investments is recognized in Equity income (loss) of affiliates.
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. 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.
Distributions received are assessed under the cumulative earnings approach to determine if the receipt 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. 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 Change in fair value of investments and options.
Marketable Equity, Debt, and Other Equity Securities
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 Change in fair value of investments and options. 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 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 Change in fair value of investments and options.
Derivative Instruments
The Company holds derivatives for risk management purposes rather than for trading. The Company uses derivatives to mitigate uncertainty and volatility caused by underlying exposures to foreign exchange rates and energy prices. The fair values of all derivative instruments are recognized as assets or liabilities at the balance sheet date and are reported gross.
Financial instruments that meet the definition of a derivative, but are not designated for hedge accounting under ASC 815, are accounted for at fair value using derivative pricing models. Valuation models require a variety of inputs, including long term metal prices, life of mine production profiles, discount rates, and inflation assumptions. These instruments are subsequently remeasured to their fair value at each reporting date with the resulting gain or loss recognized in the Consolidated Statement of Operations.
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 and is presented in the same income statement line
item as the earnings effect of the hedged item, 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.
Debt
The Company carries its senior notes at amortized cost. Debt issuance costs and debt premiums and discounts, which are included in Debt, are amortized using the effective interest method over the terms of the respective Senior Notes as a component of Interest expense, net of capitalized interest within the Consolidated Statements of Operations.
Gain or loss on extinguishment of debt is recorded as a component of Other income (loss), net upon the extinguishment of a debt instrument and is calculated as the difference between the reacquisition price and net carrying amount of the debt, which includes unamortized debt issuance costs. The Company evaluates all changes to its debt arrangements to determine whether the changes represent a modification or extinguishment to the old debt arrangement. If a debt instrument is deemed to be modified, the Company capitalizes all new lender fees and expenses all third-party fees. If it is determined that an extinguishment of one of the Company's debt instruments has occurred, the unamortized financing fees associated with the extinguished instrument are expensed. For the revolving loans, all lender and third-party fees are capitalized, and in the event an amendment reduces the committed capacity under the revolving loans, the Company will expense a portion of any unamortized fees on a pro-rata basis in proportion to the decrease in the committed capacity.
Indemnification Liabilities
The Company has provided certain indemnifications in connection with divestitures. The indemnifications contingently require the Company, as guarantor, to make payments to the guaranteed party and are initially measured at the greater of fair value or the contingent liability amount to be recognized in accordance with ASC 450 and are included in Other non-current liabilities. For indemnifications provided in sales agreements, a portion of the sale proceeds is allocated to the guarantee, which adjusts the gain or loss that would otherwise result from the transaction. The subsequent accounting for the liability depends on the nature of the underlying guarantee. Indemnification liabilities are reduced as the Company is released from risk under the guarantee. The recognition and measurement provisions of ASC 450 continue to apply to the contingent loss portion of the guarantee unless the guarantee is accounted for as a derivative.
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.
Common Stock
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.
Revenue Recognition
Newmont generates revenue by selling gold, copper, silver, lead, and zinc 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 copper, silver, lead, and zinc. 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 Cadia, Boddington, and Red Chris. Aside from these co-product sales, copper and silver produced at other Newmont sites are by-product metals.
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 and 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, copper, silver, lead, and zinc 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 estimated costs can be reasonably measured. Fair value is measured as the present value of expected cash flow estimates, after considering inflation, the Company's credit-adjusted risk-free rates and a market risk premium appropriate for the Company's 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 operating and 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 the Company's 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.
Stock-Based Compensation
The Company grants stock-based compensation awards to directors, executives and other eligible employees. Stock-based compensation awards currently issued and outstanding include RSUs, PSUs with a market-related condition, and PSUs with performance-related conditions. The market-related condition is based on the Company's total stockholder return relative to its peer group. The performance-related conditions include (i) representation of women on executive team, (ii) Scope 1 and 2 emission reductions related to key milestone projects, and (iii) return on capital employed.
The Company measures stock-based compensation awards at fair value on the date of the grant. The fair value of RSUs and PSUs with performance related conditions are based on the Newmont stock price on the date of grant. The fair value of PSUs with a market-related condition is determined using a Monte Carlo simulation model. Compensation expense related to all stock-based awards, including awards that cliff vest, is generally recognized on a straight-line basis over the requisite service period. For PSUs with performance-related conditions, the expense recognized may increase or decrease based on the probability that the performance conditions will be satisfied. 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 (loss) per share are presented for Net income (loss) attributable to Newmont stockholders. Basic income (loss) per common share is computed by dividing income (loss) available to Newmont common stockholders by the weighted average number of common shares outstanding during the period. Diluted income (loss) per common share is computed similarly except that weighted average common shares is increased to reflect all dilutive instruments, including employee stock awards. 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 Other expense, net 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 2025 presentation.
Recently Adopted Accounting Pronouncements and Securities and Exchange Commission Rules
Improvement to Income Tax Disclosures
In December 2023, ASU 2023-09 was issued, requiring disaggregated information about the effective tax rate reconciliation and additional information on taxes paid that meet a qualitative threshold. The Company adopted ASU 2023-09 for the year ended December 31, 2025 on a retrospective basis and included the required disclosures in Note 10. As this standard impacts presentation only, the adoption had no impact on the Company's financial position.
Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract
In September 2025, ASU 2025-07 was issued expanding the scope of contracts that are excluded from derivative accounting and clarifying the accounting for share-based noncash consideration in revenue contracts. The new guidance is effective for annual reporting periods beginning after December 15, 2026, with early adoption permitted. The Company early adopted ASU 2025-07 on a modified retrospective basis on December 31, 2025 and applied the derivative accounting amendment in this ASU to certain contingent consideration assets and liabilities; the share-based noncash consideration in revenue contracts amendment had no impact on the Company. The early adoption had no impact on the Company's financial position; refer to Note 14 for further information.
Recently Issued Accounting Pronouncements and Securities and Exchange Commission Rules
Disaggregation of Income Statement Expenses
In November 2024, ASU 2024-03 was issued, requiring additional disclosures in the notes to the financial statements on the nature of certain expense captions presented on the face of the Consolidated Statement of Operations. The new guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impacts of the guidance on its Consolidated Financial Statements.
v3.25.4
ACQUISITIONS AND DIVESTITURES
 12 Months Ended
Dec. 31, 2025
Business Combination [Abstract]  
ACQUISITIONS AND DIVESTITURES ACQUISITIONS AND DIVESTITURES
Business Acquisition
On November 6, 2023 (the “acquisition date”), Newmont completed its business combination transaction with Newcrest, a public Australian mining company limited by shares, whereby Newmont, through Newmont Sub, acquired all of the ordinary shares of Newcrest, pursuant to a court-approved scheme of arrangement under Part 5.1 of the Australian Corporations Act 2001 (Cth) between Newcrest and its stockholders, as contemplated by a scheme implementation deed, dated as of May 15, 2023, by and among Newmont, Newmont Sub and Newcrest, as amended from time to time. Upon implementation, Newmont completed the business acquisition of Newcrest, in which Newmont was the acquirer and Newcrest became a direct wholly owned subsidiary of Newmont Sub and an indirect wholly owned subsidiary of Newmont (such acquisition, the “Newcrest transaction”). The acquisition of Newcrest increased the Company’s gold and other metal reserves and expanded its operating jurisdictions.
The acquisition date fair value of the consideration transferred consisted of the following:
(in millions, except share and per share data)SharesPer SharePurchase Consideration
Stock Consideration
Shares of Newmont exchanged for Newcrest outstanding ordinary shares357,691,627 $37.88 $13,549 
Total Purchase Price$13,549 
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 Newcrest was 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 assigned to the identifiable assets acquired and liabilities assumed was 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 Newcrest; and (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.
In 2024, 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 Newcrest transaction:
ASSETS
Cash and cash equivalents$668 
Trade receivables212 
Inventories723 
Stockpiles and ore on leach pads113 
Derivative assets42 
Other current assets193 
Current assets1,951 
Property, plant and mine development, net (1)
13,504 
Investments (2)
990 
Stockpiles and ore on leach pads (3)
219 
Deferred income tax assets (4)
75 
Goodwill (5)
2,401 
Derivative assets362 
Other non-current assets (6)
398 
Total assets19,900 
LIABILITIES
Accounts payable344 
Employee-related benefits143 
Lease and other financing obligations16 
Debt1,923 
Other current liabilities333 
Current liabilities2,759 
Debt (7)
1,373 
Lease and other financing obligations35 
Reclamation and remediation liabilities (8)
745 
Deferred income tax liabilities (4)
1,236 
Employee-related benefits192 
Other non-current liabilities11 
Total liabilities6,351 
Net assets acquired$13,549 
____________________________
(1)The fair value of property, plant and mine development is based on applying income, market, and cost valuation methods. Measurement period adjustments of $321 increased Property, plant and mine development, net, from the preliminary valuation primarily related to the Canadian, Lihir, and Telfer assets.
(2)The fair value of the investments was determined by applying the market approach, based on quoted prices for the acquired investments.
(3)The fair value of stockpiles and ore on leach pads is based on applying the income valuation method. Measurement period adjustments of $85 increased Stockpiles and ore on leach pads from the preliminary valuation primarily relating to the valuation of stockpiles at Lihir.
(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 the majority of the goodwill balance) and liabilities and a tax basis increase to the fair value of the assets acquired in Australia and the historical carryover tax basis of assets and liabilities in all other jurisdictions. No deferred tax liability is recognized for the basis difference inherent in the fair value allocated to goodwill. Measurement period adjustments resulted in Deferred income tax assets decreasing by $114 and Deferred income tax liabilities decreasing by $95 from the preliminary valuation.
(5)Goodwill is attributable to the following reportable segments: $669 to Brucejack; $539 to Red Chris; $249 to Cadia; and $944 to Lihir. Measurement period adjustments resulted in an overall reduction to Goodwill of $343 from the preliminary valuation.
(6)Measurement period adjustments of $305 increased Other non-current assets from the preliminary valuation primarily due to the recognition of an intangible asset.
(7)The fair value of the Newcrest senior notes was measured using a market approach, based on quoted prices for the acquired debt.
(8)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. Measurement period adjustments of $352 increased Reclamation and remediation liabilities.
Sales and Net income (loss) attributable to Newmont stockholders in the Consolidated Statement of Operations includes Newcrest revenue of $944 and Newcrest net income of $136 from the acquisition date to December 31, 2023.
Pro Forma Financial Information (unaudited)
The following unaudited pro forma financial information presents consolidated results assuming the Newcrest transaction occurred on January 1, 2022.
December 31, 2023
Sales$15,432 
Net income (loss) attributable to Newmont stockholders (1)
$(1,991)
____________________________
(1)Includes $464 of Newcrest transaction and integration costs for the year ended December 31, 2023.
Divestitures
Based on a comprehensive review of the Company’s portfolio of assets following the Newcrest acquisition, the Company’s Board of Directors approved a portfolio optimization program to divest six non-core assets and a development project in February 2024. The non-core assets to be divested included Telfer, CC&V, Musselwhite, Éléonore, Porcupine, Akyem, and the Coffee development project in Canada. The Company presented these assets as held for sale in the first quarter of 2024 and recorded the assets at the lower of their carrying value or fair value, less costs to sell. These assets were periodically valued until sale occurred with any resulting gain or loss recognized in (Gain) loss on sale of assets held for sale.
The Company completed the sale of the assets of Telfer reportable segment in the fourth quarter of 2024, the sale of the CC&V, Musselwhite, and Éléonore reportable segments in the first quarter of 2025, the sale of the Porcupine and Akyem reportable segments in the second quarter 2025, and the sale of the Coffee development project in the fourth quarter of 2025 as part of its portfolio optimization program.
Gains or losses recognized on the completion of the sales are recognized in (Gain) loss on sale of assets held for sale. All sales agreements include transitional services support to be provided by the Company up to a one-year period following close. Gains and losses recognized on the completed sales during the years ended December 31, 2025 and 2024 are summarized in the table below; value of consideration received and indemnifications provided represent the value at the time of close.
Telfer (1)
CC&VMusselwhiteÉléonorePorcupineAkyemCoffee ProjectTotal
Cash received, net of working capital adjustments (2)
$217 $109 $799 $784 $201 $888 $10 $3,008 
Deferred consideration received61 154 14 — 107 84 65 485 
Equity consideration242 — — — 233 — 80 555 
Option on equity consideration(67)— — — — — — (67)
Value of consideration received453 263 813 784 541 972 155 3,981 
Less: Carrying value of net assets divested(613)(196)(794)(612)(513)(270)(161)(3,159)
Less: Indemnification provided— (65)— — — (19)— (84)
Gain (loss) on completed sales (3)(4)
$(160)$2 $19 $172 $28 $683 $(6)$738 
____________________________
(1)Closed during the year ended December 31, 2024; all other divestments closed during the year ended December 31, 2025.
(2)Certain working capital adjustments are to be finalized over a defined period from the close of sale. Any resulting revisions will be settled in cash, with an offsetting impact recognized in (Gain) loss on sale of assets held for sale. Adjustments are not expected to be material.
(3)Recognized in (Gain) loss on sale of assets held for sale.
(4)Since designation as held for sale in the first quarter of 2024: CC&V incurred a total net loss of $15, including a gain of $2 for the year ended December 31, 2025; Porcupine incurred a total net loss of $358, including a $76 loss reversal and $28 gain recognized in the first and second quarter of 2025, respectively, resulting in a total gain of $104 recognized for the year ended December 31, 2025; Coffee incurred a total net loss of $161, including a $65 loss reversal and $6 loss recognized in the first and second quarter of 2025, respectively, resulting in a total gain of $59 recognized for the year ended December 31, 2025. Total net losses for CC&V, Porcupine, and Coffee include prior period write-downs; no prior period write-downs were incurred for Musselwhite, Éléonore, or Akyem.
Telfer. Sale of the assets of the Telfer reportable segment, including its 70% interest in the Havieron development project and other related assets, to Greatland Gold plc ("Greatland") closed on December 4, 2024 (the "Telfer Sale"). The deferred consideration consists of deferred payments of up to $100 tied to future Havieron production and gold price over a five-year period. The deferred payments do not meet the definition of a derivative and are considered to be a financial asset and are included in Other non-current assets. The equity consideration consisted of 134 million Greatland Resources Limited ("GRL") shares accounted for as an equity method investment for which the Company elected the fair value option. The equity consideration contains an option in which a third party has the ability to acquire 67 million of the Company's Greatland shares at a set price exercisable for four years, accounted for as a financial liability for which the Company elected the fair value option ("Greatland option"). The fair value option was elected for the equity consideration and related option as the Company believes it best reflects the economics of the underlying transaction.
In the second quarter of 2025, the Company sold 67 million shares for $274, reducing its ownership to 10%, resulting in a gain of $68 recognized in Change in fair value of investments and options for the year ended December 31, 2025. The remaining shares held were accounted for as marketable equity securities at December 31, 2025 and are included in current Investments.
In January 2026, the third party exercised the Greatland option resulting in extinguishment of the financial liability and sale of the remaining shares for $134.
CC&V. Sale of the CC&V reportable segment to SSR Mining Inc. ("SSR") closed on February 28, 2025. The deferred consideration consists of $175 receivable in two installments of $87.5 upon certain regulatory approvals. The deferred payments do not meet the definition of a derivative asset and are considered to be a financial asset and are included in Other non-current assets. The indemnification consists of a guarantee in which the Company will indemnify SSR for 90% of certain closure costs over $500 related to the Company’s historical mining activities with no limitation to the maximum potential future payments. The Company has an opportunity to fully settle the indemnification at certain milestones through a one-time lump sum payment. The indemnification is included in Other non-current liabilities.
Musselwhite. Sale of the Musselwhite reportable segment to Orla Mining Ltd ("Orla") closed on February 28, 2025. The deferred consideration consists of $40 receivable in two installments of $20 on the first and second year anniversary of the close date, dependent on the average spot gold price over the respective period. The deferred payments meet the definition of a derivative asset and are included as contingent consideration in Other current assets and Other non-current assets, respectively.
Éléonore. Sale of the Éléonore reportable segment to Dhilmar Ltd closed on February 28, 2025.
Porcupine. Sale of the Porcupine reportable segment to Discovery Silver Corp. ("Discovery") closed on April 15, 2025. The deferred consideration consists of $150 to be received in four equal annual installments beginning December 31, 2027. The deferred consideration is classified as a note receivable and is included in Other non-current assets. The equity consideration consisted of Discovery shares, which were accounted for as marketable equity securities and fully divested in the third quarter of 2025.
Akyem. Sale of the Akyem reportable segment to Zijin Mining Group Co., Ltd ("Zijin") closed on April 15, 2025. The deferred consideration consisted of $100 receivable at the earlier of lease ratification or the fifth year anniversary of the close date. The deferred consideration did not meet the definition of a derivative asset and was considered a financial asset and included in Other non-current assets. The indemnification consisted of a guarantee in which the Company would have indemnified Zijin for losses from non-ratification of the lease by the Ghanaian Parliament, government actions stopping operations, or required renegotiations to secure ratification, with a cap of $200 and a 5-year claim period. In the third quarter of 2025, the lease was ratified resulting in receipt of the deferred consideration and removal of the indemnification obligation resulting in a gain of $35 recognized in (Gain) loss on sale of assets held for sale.
Coffee. Sale of the Coffee development project to Fuerte Metals Corporation ("Fuerte") closed on October 17, 2025. The deferred consideration consists of a royalty equal to 3% of the NSR from Coffee. The deferred consideration does not meet the definition of a derivative and is considered to be a financial asset and is included in Other non-current assets. The equity consideration consisted of 34 million Fuerte shares, which was accounted for as an equity method investment for which the Company elected the fair value option as the Company believed it best reflected the economics of the underlying transaction. In the fourth quarter of 2025, the Company sold a portion of its Fuerte shares reducing its ownership to 19%. The remaining shares held are accounted for as marketable equity securities at December 31, 2025 and are included in Investments.
For the year ended December 31, 2025 and 2024, (Gain) loss on sale of assets held for sale consistent of the following:
Year Ended December 31,
20252024
(Gain) loss on completed sales$(898)$160 
(Reversal of write-downs) write-downs on assets classified as held for sale(141)699 
Tax impact (1)
(46)255 
Other (2)
19 — 
$(1,066)$1,114 
____________________________
(1)In 2024, a tax impact on write-downs of assets held for sale resulted in the establishment of a deferred tax asset, which increased the respective carrying values of the related disposal groups and resulted in an additional loss. In 2025, a tax impact on the reversal of prior write-downs of assets held for sale resulted in the reduction to the deferred tax asset, which decreased the respective carrying values of the related disposal group and resulted in an additional gain.
(2)Primarily consists of the impact of finalization of certain working capital adjustments on completed sales, and certain costs incurred under the transitional services support agreements.
The following table presents the carrying value of the major classes of assets and liabilities held for sale by disposal group as of December 31, 2024, prior to recognition of the write-down of $699 for the year ended December 31, 2024. All disposal groups were divested as of December 31, 2025.
CC&V
Musselwhite
Éléonore
Porcupine
Akyem
Coffee Project (1)
Total
Assets held for sale:
Property, plant and mine development, net$170 $1,063 $785 $1,541 $559 $321 $4,439 
Other assets408 39 70 93 258 1 869 
Carrying value of assets held for sale$578 $1,102 $855 $1,634 $817 $322 $5,308 
Liabilities held for sale:
Reclamation and remediation liabilities$334 $82 $87 $563 $427 $3 $1,496 
Other liabilities37 257 71 223 91 2 681 
Carrying value of liabilities held for sale$371 $339 $158 $786 $518 $5 $2,177 
____________________________
(1)The Coffee Project is included in the non-operating segment Corporate and Other in Note 4.
v3.25.4
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
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"), which is the Chief Executive Officer. The Company's 13 reportable segments consist of each of its 12 mining operations that it manages and its 38.5% proportionate interest in Nevada Gold Mines ("NGM"), which it does not directly manage. The reportable segments at December 31, 2025 exclude reportable segments that have been divested. Refer to Note 3 for further information on the Company's divestitures.
With respect to NGM, Newmont has given notice to Barrick and the NGM Board of Managers that it has identified evidence of mismanagement at NGM, including diversion of resources from NGM to the benefit of Barrick’s wholly-owned property Fourmile and Barrick, and that it was exercising its contractual inspection and audit rights.
In October 2025, the Company declared commercial production at its Ahafo North project in Ghana resulting in classification as a reportable segment. Prior to declaration of commercial production, Ahafo North was classified as a development project and all activity was included in the Ahafo South reportable segment up to the date of commercial production. Although not a reportable segment until the fourth quarter of 2025, the amounts related to Ahafo North have been reported separately for comparability purposes.
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. The Company's business activities and operating segments that are not considered reportable, including all equity method investments, are reported in the non-operating segment Corporate and Other, which has been provided for reconciliation purposes.
The CODM uses Income (loss) before income and mining tax and other items to evaluate income generated from segment assets in deciding whether to reinvest profits into the mine operation or reallocate for other capital priorities under the Company's capital allocation strategy. Additionally, the CODM primarily uses this metric to assess performance of the segment, plan and forecast future business operations, and benchmark to competitors.
The financial information relating to the Company’s segments is as follows:
Year Ended December 31, 2025SalesCosts Applicable to SalesDepreciation and AmortizationReclamation and RemediationAdvanced Projects, Research and Development and Exploration
Other Segment Expenses (Income) (1)
Income (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures (2)
Managed
Lihir$1,983 $755 $188 $13 $10 $18 $999 $5,805 $148 
Cadia:
Gold1,409 324 125 
Copper885 301 120 
Total Cadia2,294 625 245 5 13 47 1,359 6,646 597 
Tanami1,353 429 124 3 10 26 761 2,734 571 
Boddington:
Gold1,988 685 128 
Copper258 127 24 
Total Boddington2,246 812 152 16 5 27 1,234 2,499 145 
Ahafo South (3)
2,266 825 185 7 48 (9)1,210 1,602 168 
Ahafo North (3)
242 31 10 — 7 (29)223 1,191 321 
Merian846 373 76 5 39 — 353 927 58 
Cerro Negro691 312 124 6 25 24 200 1,868 150 
Yanacocha1,804 411 113 (13)12 784 497 2,322 21 
Peñasquito:
Gold1,492 389 161 
Silver1,080 334 131 
Lead183 116 46 
Zinc664 423 152 
Total Peñasquito3,419 1,262 490 22 17 61 1,567 4,744 123 
Red Chris
Gold218 82 24 
Copper295 169 50 
Total Red Chris513 251 74 9 11 1 167 2,668 157 
Brucejack824 344 182 5 19 7 267 2,630 104 
Non-managed
NGM3,560 1,343 478 12 21 9 1,697 7,486 387 
Total Reportable Segments22,041 7,773 2,441 90 237 966 10,534 43,122 2,950 
Corporate and Other (4)
— — 74 144 169 (48)(339)13,999 23 
Divested (5)
CC&V88 39 2 2 — (3)48 — 5 
Musselwhite94 33 — 1 — (18)78 — 14 
Porcupine177 79 1 6 1 20 70 — 54 
Éléonore138 54 — 1 2 (171)252 — 12 
Akyem131 107 3 5 — (683)699 — 9 
Consolidated$22,669 $8,085 $2,521 $249 $409 $63 $11,342 $57,121 $3,067 
____________________________
(1)Other Segment Expenses (Income) for all reportable segments includes (Gain) loss on sale of assets held for sale, Impairment charges, Other expense, net, and Other income (loss), net. Refer to Notes 3, 7, 8, and 9, respectively, for further information. Additionally, Other Segment Expenses (Income) includes General and administrative, Change in fair value of investments and options, and Interest expense, net of capitalized interest, which are primarily incurred at the non-operating segment Corporate and Other.
(2)Includes an increase in non-cash adjustments of $32, primarily comprised of the change in accrued capital expenditures. Consolidated capital expenditures on a cash basis were $3,035.
(3)In the fourth quarter of 2025, the Ahafo North development project achieved commercial production resulting in designation as a reportable segment. Prior to declaration of commercial production, Ahafo North was classified as a development project and all activity was included in the Ahafo South reportable segment. Although not a reportable segment until the fourth quarter of 2025, the amounts related to Ahafo North have been reported separately for comparability purposes.
(4)Included the Coffee development project, which was divested in the fourth quarter of 2025. Refer to Note 3 for information on the Company's divestitures.
(5)Refer to Note 3 for information on the Company's divestitures.
Year Ended December 31, 2024SalesCosts Applicable to SalesDepreciation and Amortization
Reclamation and Remediation
Advanced Projects, Research and Development and Exploration
Other Segment Expenses (Income) (1)
Income (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures (2)
Managed
Lihir$1,473 $787 $168 $12 $16 $21 $469 $5,625 $193 
Cadia
Gold1,118 297 119 
Copper743 280 123 
Total Cadia1,861 577 242 5 19 (23)1,041 6,208 537 
Tanami988 390 123 2 28 (19)464 2,236 437 
Boddington:
Gold1,417 613 112 
Copper329 204 39 
Total Boddington1,746 817 151 13 4 (23)784 2,420 129 
Ahafo South (3)
1,923 722 215 8 32 (38)984 2,674 127 
Ahafo North (3)
— — — — 9 — (9)751 255 
Merian660 401 84 4 21 (1)151 943 81 
Cerro Negro566 312 123 5 19 13 94 1,787 186 
Yanacocha841 353 98 55 9 2 324 1,932 61 
Peñasquito:
Gold713 225 103 
Silver792 360 159 
Lead195 116 52 
Zinc622 427 162 
Total Peñasquito2,322 1,128 476 20 13 43 642 4,879 129 
Red Chris
Gold96 47 14 
Copper229 172 52 
Total Red Chris325 219 66 7 13 (2)22 2,580 150 
Brucejack610 312 172 5 13 — 108 2,660 70 
Non-managed
NGM2,485 1,263 428 11 23 32 728 7,430 448 
Held for sale (4)
CC&V347 200 13 11 7 19 97 561 26 
Musselwhite516 224 18 3 6 — 265 1,102 97 
Porcupine673 310 36 27 6 633 (339)1,172 201 
Éléonore583 325 21 4 11 (2)224 855 100 
Akyem495 338 57 14 5 (5)86 817 24 
Total Reportable Segments18,414 8,678 2,491 206 254 650 6,135 46,632 3,251 
Corporate and Other— — 68 109 195 967 (1,339)9,717 22 
Divested (4)
Telfer
Gold242 245 14 
Copper26 40 3 
Total Telfer268 285 17 13 14 158 (219)— 51 
Consolidated$18,682 $8,963 $2,576 $328 $463 $1,775 $4,577 $56,349 $3,324 
____________________________
(1)Other Segment Expenses (Income) for all reportable segments includes (Gain) loss on sale of assets held for sale, Impairment charges, Other expense, net, and Other income (loss), net. Refer to Notes 3, 7, 8, and 9, respectively, for further information. Additionally, Other Segment Expenses (Income) includes General and administrative, Change in fair value of investments and options, and Interest expense, net of capitalized interest which are primarily incurred at the non-operating segment Corporate and Other.
(2)Includes a decrease in non-cash adjustments of $78, primarily comprised of the change in accrued capital expenditures. Consolidated capital expenditures on a cash basis were $3,402.
(3)In the fourth quarter of 2025, the Ahafo North development project achieved commercial production resulting in designation as a reportable segment. Prior to declaration of commercial production, Ahafo North was classified as a development project and all activity was included in the Ahafo South reportable segment. Although not a reportable segment until the fourth quarter of 2025, the amounts related to Ahafo North have been reported separately for comparability purposes.
(4)Refer to Note 3 for information on the Company's divestitures.
Year Ended December 31, 2023SalesCosts Applicable to SalesDepreciation and Amortization
Reclamation and Remediation
Advanced Projects, Research and Development and Exploration
Other Segment Expenses (Income) (1)
Income (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures (2)
Managed
Lihir (3)
$266 $146 $20 $— $2 $5 $93 $3,909 $53 
Cadia: (3)
Gold250 129 16 
Copper172 116 14 
Total Cadia422 245 30 — 2 (13)158 6,351 75 
Tanami867 337 110 2 30 (19)407 1,896 413 
Boddington:
Gold1,451 634 108 
Copper363 204 35 
Total Boddington1,814 838 143 12 6 4 811 2,376 164 
Telfer: (3)
Gold135 126 6 
Copper17 22 1 
Total Telfer152 148 7 1 4 2 (10)574 9 
Ahafo South (4)
1,130 547 181 7 31 (14)378 2,307 139 
Ahafo North (4)
— — — — 9 — (9)516 171 
Akyem574 275 122 12 19 (5)151 1,069 40 
Merian625 385 82 3 23 10 122 927 84 
Cerro Negro510 328 137 4 10 16 15 1,646 162 
Porcupine503 301 117 18 17 5 45 1,473 166 
Éléonore453 295 101 3 10 247 (203)777 106 
Yanacocha537 294 85 1,232 11 (15)(1,070)2,117 312 
Musselwhite351 214 80 3 10 298 (254)1,018 104 
Peñasquito: (5)
Gold257 158 67 
Silver335 300 134 
Lead96 98 45 
Zinc213 253 105 
Total Peñasquito901 809 351 18 11 1,523 (1,811)4,738 113 
CC&V332 198 23 12 13 4 82 383 64 
Red Chris: (3)
Gold9 4 1 
Copper23 17 3 
Total Red Chris32 21 4 — — (1)8 2,178 25 
Brucejack (3)
72 69 22 — 7 — (26)4,006 22 
Non-managed
NGM2,271 1,249 452 11 29 98 432 7,401 472 
Total Reportable Segments11,812 6,699 2,067 1,338 244 2,145 (681)45,662 2,694 
Corporate and Other— — 41 195 221 893 (1,350)9,844 51 
Consolidated$11,812 $6,699 $2,108 $1,533 $465 $3,038 $(2,031)$55,506 $2,745 
____________________________
(1)Other Segment Expenses (Income) for all reportable segments includes Impairment charges, Other expense, net, and Other income (loss), net. Refer to Notes 7, 8, and 9, respectively, for more information. Additionally, Other Segment Expenses (Income) includes General and administrative, Change in fair value of investments and options, and Interest expense, net of capitalized interest which are primarily incurred at the non-operating segment Corporate and Other.
(2)Includes an increase in non-cash adjustments of $79, primarily comprised of the change in accrued capital expenditures. Consolidated capital expenditures on a cash basis were $2,666.
(3)Sites acquired through the Newcrest transaction. Refer to Note 3 for further information.
(4)In the fourth quarter of 2025, the Ahafo North development project achieved commercial production resulting in designation as a reportable segment. Prior to declaration of commercial production, Ahafo North was classified as a development project and all activity was included in the
Ahafo South reportable segment. Although not a reportable segment until the fourth quarter of 2025, the amounts related to Ahafo North have been reported separately for comparability purposes.
(5)In June 2023, the National Union of Mine and Metal Workers of the Mexican Republic (the "Union") notified the Company of a strike action. In response to the strike notice, the Company suspended operations at Peñasquito. The Company reached an agreement with the Union and operations at Peñasquito resumed in the fourth quarter of 2023.
Long-lived assets, which consist of Property, plant and mine development, net, non-current Stockpiles and ore on leach pads, and non-current right-of-use assets, included in Other non-current assets, were as follows:
At December 31,
20252024
Australia$10,393 $9,490 
United States (1)
6,566 7,125 
Canada (1)
4,625 8,358 
Papua New Guinea4,614 4,514 
Mexico3,606 3,822 
Ghana (1)
2,406 2,755 
Argentina1,604 1,582 
Peru1,269 2,203 
Suriname702 726 
Other18 27 
$35,803 $40,602 
____________________________
(1)Canada, United States, and Ghana include $3,723, $434, and $565, respectively, of long-lived assets included in Assets held for sale at December 31, 2024. Refer to Note 3 for additional information.
v3.25.4
SALES
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
SALES SALES
The following tables present the Company’s Sales by mining operation, product and inventory type:
Year Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Gold Doré
Concentrate and Other
Total Sales
Gold Doré
Concentrate and Other
Total Sales
Gold Doré
Concentrate and Other
Total Sales
Managed
Lihir (1)
$1,983 $— $1,983 $1,473 $— $1,473 $266 $— $266 
Cadia: (1)
Gold150 1,259 1,409 126 992 1,118 28 222 250 
Copper— 885 885 — 743 743 — 172 172 
Total Cadia150 2,144 2,294 126 1,735 1,861 28 394 422 
Tanami1,353 — 1,353 988 — 988 867 — 867 
Boddington:
Gold488 1,500 1,988 353 1,064 1,417 359 1,092 1,451 
Copper— 258 258 — 329 329 — 363 363 
Total Boddington488 1,758 2,246 353 1,393 1,746 359 1,455 1,814 
Ahafo South
2,266 — 2,266 1,923 — 1,923 1,130 — 1,130 
Ahafo North (2)
242 — 242 — — — — — — 
Merian821 25 846 638 22 660 600 25 625 
Cerro Negro 691 — 691 566 — 566 510 — 510 
Yanacocha1,781 23 1,804 833 8 841 526 11 537 
Peñasquito:
Gold— 1,492 1,492 — 713 713 36 221 257 
Silver (3)
— 1,080 1,080 — 792 792 — 335 335 
Lead— 183 183 — 195 195 — 96 96 
Zinc— 664 664 — 622 622 — 213 213 
Total Peñasquito— 3,419 3,419 — 2,322 2,322 36 865 901 
Red Chris: (1)
Gold— 218 218 — 96 96 — 9 9 
Copper— 295 295 — 229 229 — 23 23 
Total Red Chris— 513 513 — 325 325 — 32 32 
Brucejack (1)
540 284 824 415 195 610 48 24 72 
Non-managed
NGM (4)
3,387 173 3,560 2,336 149 2,485 2,178 93 2,271 
Divested (5)
CC&V88 — 88 347 — 347 332 — 332 
Musselwhite 94 — 94 516 — 516 351 — 351 
Porcupine 177 — 177 673 — 673 503 — 503 
Éléonore 138 — 138 583 — 583 453 — 453 
Akyem131 — 131 495 — 495 574 — 574 
Telfer: (1)
Gold— — — 47 195 242 20 115 135 
Copper— — — — 26 26 — 17 17 
Total Telfer— — — 47 221 268 20 132 152 
Consolidated$14,330 $8,339 $22,669 $12,312 $6,370 $18,682 $8,781 $3,031 $11,812 
____________________________
(1)Sites acquired through the Newcrest transaction. Refer to Note 3 for further information.
(2)In October 2025, the Company declared commercial production at its Ahafo North project in Ghana resulting in classification as a reportable segment.
(3)Silver sales from concentrate includes $84, $91, and $42 related to non-cash amortization of the silver streaming agreement liability for the years ended December 31, 2025, 2024, and 2023, respectively.
(4)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $3,410, $2,338, and $2,174 for the years ended December 31, 2025, 2024, and 2023, respectively.
(5)The Company completed the sale of Telfer in the fourth quarter of 2024, CC&V, Musselwhite, and Éléonore in the first quarter of 2025, and Porcupine and Akyem in the second quarter of 2025. Refer to Note 3 for information on the Company's divestitures.
Trade Receivables and Provisional Sales
At December 31, 2025 and December 31, 2024, Trade receivables primarily consisted of sales from provisionally priced concentrate and other production. Changes in pricing on provisional sales resulted in an increase to Sales of $572, $125, and $37 for the years ended December 31, 2025, 2024, and 2023, respectively.
At December 31, 2025, Newmont had the following provisionally priced concentrate sales subject to final pricing over the next several months:
Provisionally Priced Sales
Subject to Final Pricing (1)
Average Provisional
Price (per ounce/pound)
Gold (ounces, in thousands)141 $4,332 
Copper (pounds, in millions)66 $5.65 
Silver (ounces, in millions)7 $70.31 
Lead (pounds, in millions)48 $0.90 
Zinc (pounds, in millions)84 $1.41 
____________________________
(1)Includes provisionally priced by-product sales subject to final pricing, which are recognized in Costs applicable to sales.
Silver Streaming 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 current and non-current portion are recorded to Other current liabilities and Silver streaming agreement, respectively. 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, 2025, 2024, and 2023, the Company amortized $84, $91, and $42, respectively, of the liability into revenue. At December 31, 2025 and 2024, the value of the liability included in the Consolidated Balance Sheet was $691 and $775, 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 location of the customer were as follows:
Year Ended December 31,
202520242023
United Kingdom (1)
$13,068 $10,966 $7,637 
South Korea3,196 1,956 975 
Japan2,002 1,920 512 
China1,411 318 102 
Australia803 409 376 
Mexico
639 600 240 
Switzerland89 638 600 
Philippines82 709 451 
United States— 2 48 
Other1,379 1,164 871 
$22,669 $18,682 $11,812 
____________________________
(1)Includes $84, $91, and $42 related to non-cash amortization of the silver streaming agreement liability for the years ended December 31, 2025, 2024, and 2023, 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. The Company sells copper, silver, lead, and zinc predominantly in the form of concentrates. The concentrates are sold under a combination of short-term and long-term supply contracts with processing fees based on the demand for these concentrates in the global marketplace.
Customers with revenue in excess of 10% of total Sales consisted of the following:
Year Ended December 31,
202520242023
Standard Chartered
$6,009 27 %$4,833 26 %$1,659 14 %
JPMorgan Chase
$2,499 11 %$2,317 12 %$2,583 22 %
Royal Bank of Canada
*
*$1,897 10 %$1,765 15 %
Toronto Dominion Bank
****$1,630 14 %
____________________________
*Sales during the year did not meet the 10% disaggregation threshold.
v3.25.4
RECLAMATION AND REMEDIATION
 12 Months Ended
Dec. 31, 2025
Environmental Remediation Obligations [Abstract]  
RECLAMATION AND REMEDIATION RECLAMATION AND REMEDIATION
The Company’s mining and exploration activities are subject to various domestic and international laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company conducts its operations to protect public health and the environment and believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. Estimated future reclamation and remediation costs are based principally on current legal and regulatory requirements.
The Company’s Reclamation and remediation expense consisted of:
Year Ended December 31,
202520242023
Reclamation adjustments and other$(172)$(108)$1,207 
Reclamation accretion307 365 238 
Reclamation expense135 257 1,445 
Remediation adjustments and other107 64 81 
Remediation accretion7 7 7 
Remediation expense114 71 88 
Reclamation and remediation$249 $328 $1,533 
In 2025 and 2024, reclamation adjustments were primarily due to a $192 and a $136 decrease, respectively, at portions of the Yanacocha site that are no longer in production and with no expected substantive economic value (i.e., non-operating) as a result of updated cost estimates. In 2023, reclamation adjustments were primarily due to increased water management costs at non-operating portions of the Yanacocha site, which resulted in an increase of $1,101.
In 2025, remediation adjustments were primarily related to higher water management costs and project execution delays at the Midnite Mine, updated regulatory compliance requirements at Mt. Leyshon, and various other environmental projects at non-operating sites, all of which are included in the non-operating segment Corporate and Other. In 2024, remediation adjustments were primarily due to the completion of haul road safety enhancements, continued clean up of contaminated materials, and closure of the three mine portals at the Ross Adams mine, included in the non-operating segment Corporate and Other. In 2023, remediation adjustments are primarily due to higher water management costs and project execution delays at the Midnite mine and Dawn mill sites, included in the non-operating segment Corporate and Other.
The following are reconciliations of Reclamation and remediation liabilities:
ReclamationRemediationTotal
Balance at January 1, 2024
$8,385 $401 $8,786 
Additions, changes in estimates and other41 44 85 
Acquisitions and divestitures (1)
71 — 71 
Payments, net(351)(82)(433)
Accretion expense365 7 372 
Reclassification to Liabilities held for sale
(1,496)— (1,496)
Balance at December 31, 2024
7,015 370 7,385 
Additions, changes in estimates and other (2)
223 84 307 
Acquisitions and divestitures(13)— (13)
Payments, net(732)(71)(803)
Accretion expense307 7 314 
Balance at December 31, 2025
$6,800 $390 $7,190 
At December 31,
20252024
ReclamationRemediationTotalReclamationRemediationTotal
Current (3)
$829 $64 $893 $928 $63 $991 
Non-current (4)
5,971 326 6,297 6,087 307 6,394 
Total (5)
$6,800 $390 $7,190 $7,015 $370 $7,385 
____________________________
(1)During 2024, measurement period adjustments of $349 increased Reclamation and remediation liabilities from refinements to the preliminary valuation of the Newcrest sites. These adjustments were partially offset by $278 as a result of the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024.
(2)Reclamation adjustments during 2025 primarily relate to increased cost estimates at Peñasquito resulting from updated risk assessments and the identification of additional uncertainties regarding long-term tailings storage facility embankment stability, partially offset by a reduction in cost estimates at Yanacocha following the completion of several closure related studies.
(3)The current portion of reclamation and remediation liabilities are included in Other current liabilities; refer to Note 22 for further information.
(4)The non-current portion of reclamation and remediation liabilities are included in Reclamation and remediation liabilities.
(5)Total reclamation liabilities includes $3,906 and $4,546 related to Yanacocha at December 31, 2025 and 2024, respectively.
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 50% greater or 10% lower than the amount accrued at December 31, 2025. The amounts accrued are reviewed periodically based upon facts and circumstances available at the time. Changes in estimates are included in Other current liabilities and Reclamation and remediation liabilities in the period estimates are revised.
Included in Assets held for sale at December 31, 2024 is $93 of restricted cash held for purposes of settling reclamation and remediation obligations at Akyem.
Included in Other non-current assets at December 31, 2025 and 2024 are $33 and $29 respectively, of non-current restricted cash held for purposes of settling reclamation and remediation obligations. The amounts at December 31, 2025 and 2024 primarily relate to Ahafo South and San Jose Reservoir at Yanacocha.
Included in Other non-current assets at December 31, 2025 and 2024 was $13 and $15, respectively, of non-current restricted investments, which are legally pledged for purposes of settling reclamation and remediation obligations. The amounts at December 31, 2025 and 2024 primarily relate to the San Jose Reservoir at Yanacocha.
Refer to Note 24 for further discussion of reclamation and remediation matters.
v3.25.4
IMPAIRMENT CHARGES
 12 Months Ended
Dec. 31, 2025
Asset Impairment Charges [Abstract]  
IMPAIRMENT CHARGES IMPAIRMENT CHARGES
Year Ended December 31,
202520242023
Long-lived and other assets (1)
Long-lived and other assets (1)
Long-lived and other assets (1)
Goodwill
Total
Yanacocha$770 $2 $— $— $— 
NGM (2)
4 25 75 11 86 
Peñasquito1 19 21 1,210 1,231 
Other (3)
67 32 35 539 574 
Impairment charges
$842 $78 $131 $1,760 $1,891 
____________________________
(1)Primarily relates to non-cash write-downs of materials and supplies inventory and various assets that are no longer in use, except for certain impairment charges described below.
(2)At December 31, 2024 and 2023, the Company recognized its proportionate share of the non-cash impairment charge on long-lived assets at NGM. The impairment charge resulted in a remaining balance of $2 and $22 within Property, plant and mine development, net at December 31, 2024 and 2023, respectively. The remaining balances were estimated based on observable market values for comparable assets for the individual assets that were determined to have residual market value.
(3)Consists of impairment on goodwill at Musselwhite and Éléonore for the year ended December 31, 2023; refer below for further information.
The estimated cash flows utilized in both the long-lived asset and goodwill impairment evaluations are derived from the Company's current business plans. The Company completed its annual business plan update which reflected updated mine plans, certain adverse changes in market conditions, including inflationary pressures to costs and capital, strategic evaluation regarding the use of capital, and updates to asset retirement costs.
Impairment of Long-lived and Other Assets
The Company reviews and evaluates its long-lived assets, including development projects, for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. During the fourth quarter of 2025, the Company (i) removed the Yanacocha Sulfides development project from its updated life of mine business plan based on the ongoing evaluation of its global portfolio of development projects and prioritization of project sequencing, (ii) downgraded the Yanacocha Sulfides project reserves to resources as a result of dated technical and capital estimates for the tailings storage solution and other design considerations for the project, (iii) executed sales transactions as part of an ongoing plan to market and sell the project equipment to third-party buyers, (iv) initiated a Company severance program with its employees at the Yanacocha operations that contemplates a wind-down of mining operations as oxide ore mining is depleted, and (v) is progressing mine closure activities for the non-operating areas of the Yanacocha operation, as well as prioritizing other future development opportunities at Yanacocha ahead of any future re-evaluation of the Yanacocha Sulfides development project, among other considerations. These actions, taken as a result of a change in strategic direction for the Company's operations in Peru and at Yanacocha, have resulted in an indefinite deferral of the future development of this project, and accordingly, the Company considers the project, as previously contemplated, no longer temporarily idled and that an impairment indicator existed for the project. As a result, a recoverability test was performed and the Company concluded the assets related to the project were impaired resulting in a non-cash impairment charge of $770, inclusive of working capital assets related to the project. The remaining balance of $78 within Property, plant and mine development, net at December 31, 2025 represents the expected salvage value of the equipment to be sold.
The Company measured the impairment by estimating the fair value of the Yanacocha Sulfides project equipment available for sale compared to the carrying value of the project assets, which included assets under construction and deferred mine development related to an underground deposit that was part of the project expenditures. The estimated fair value was determined using a market-based approach and is considered a non-recurring level 3 fair value measurement. The significant input to the fair value measurement included an estimated recoverability percentage of the original purchase order value of the equipment expected to be realized upon sale, which was based on completed sales to date.
Impairment of Goodwill
The Company evaluates its goodwill for impairment annually at December 31 or when events or changes in circumstances indicate that the fair value of a reporting unit is less than its carrying value. Each operating mine is considered a distinct reporting unit for purposes of goodwill impairment testing. Based on the December 31, 2025 and December 31, 2024 reviews, the Company concluded that Goodwill was not impaired at any of the reporting units.
Based on the December 31, 2023 review, the Company concluded that Goodwill was impaired at the Musselwhite, Éléonore and Peñasquito reporting units. The goodwill impairments at Musselwhite and Éléonore were driven by a deterioration in underlying cash flows from higher costs due to inflationary pressures, and resulted in non-cash impairment charges of $293 and $246, respectively, which represented the full goodwill balance of the reporting units prior to impairment. The goodwill impairment at Peñasquito was also driven by lower expected cash flows, primarily due to an update to the geological model that impacted expected metal grade and recoveries, as well as higher costs due to inflationary pressures, and resulted in a non-cash impairment charge of
$1,210, which represented the full goodwill balance of the reporting unit prior to impairment. The long-lived assets of Musselwhite, Éléonore and Peñasquito were evaluated for impairment prior to the quantitative goodwill assessment and no impairment was identified.
In addition, the Company recorded a non-cash impairment charge of $11 at NGM as a result of the decision to not pursue permitting for Phase 2 mining at Long Canyon. As a result, NGM placed Long Canyon on long-term care and maintenance and revised their business plan. The impairment represented the full goodwill balance at Long Canyon based on the Company's proportionate interest in NGM.
The Company measured the impairments by comparing the total fair value of the operations to the corresponding reporting unit carrying value. The estimated fair value was determined using the income approach and is considered a non-recurring level 3 fair value measurement. Significant inputs to the fair value measured included (i) updated cash flow information from the Company's current business and closure plans, (ii) a short-term gold price of $1,950, (iii) a long-term gold price of $1,700, (iv) current estimates of reserves, resources, and exploration potential, and (v) a reporting unit specific discount rate of 10.00% at Musselwhite, 17.50% at Éléonore, and 6.75% at Peñasquito. The selected discount rates for Musselwhite and Éléonore incorporate additional premium related to operational risk at these sites.
v3.25.4
OTHER EXPENSE, NET
 12 Months Ended
Dec. 31, 2025
Operating Costs and Expenses [Abstract]  
OTHER EXPENSE, NET OTHER EXPENSE, NET
Year Ended December 31,
202520242023
Restructuring and severance$186 $38 $24 
Settlement costs2 44 7 
Newcrest transaction and integration costs— 72 464 
Other98 37 22 
Other expense, net$286 $191 $517 
Restructuring and severance
Beginning in the third quarter of 2025, management committed to a strategic plan designed to reduce operating costs and advance the Company’s ongoing commitment to profitability, which included streamlining its organizational structure and a reduction of the Company’s workforce and office space in certain markets.
During the year ended December 31, 2025, restructuring and severance primarily consists of expenditures for severance related to workforce reductions, costs related to closing certain office locations, and related consulting charges. The majority of the cash expenditures related to the plan were made in the fourth quarter or are expected to be paid in early 2026, with the remainder to be paid by the first quarter of 2027. Estimates are based on a number of assumptions, including compliance with local legal requirements across jurisdictions. Actual costs and timing may vary from current estimates as the Company continues to assess the full scope of the impact arising from, or related to, the workforce reduction and operating model changes.
v3.25.4
OTHER INCOME (LOSS), NET
 12 Months Ended
Dec. 31, 2025
Other Income, Nonoperating [Abstract]  
OTHER INCOME (LOSS), NET OTHER INCOME (LOSS), NET
Year Ended December 31,
202520242023
Interest income$214 $152 $148 
Foreign currency exchange(137)101 (56)
(Loss) gain on debt extinguishment (Note 20)
(101)32 — 
(Loss) gain on asset and investment sales (1)
(20)35 (197)
Pension settlements and curtailments (Note 11)
— (1)(9)
Other50 44 73 
Other income (loss), net$6 $363 $(41)
____________________________
(1)Primarily consists of the loss of $235 related to the abandonment of the pyrite leach plant at Peñasquito for the year ended December 31, 2023.
v3.25.4
INCOME AND MINING TAXES
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
INCOME AND MINING TAXES INCOME AND MINING TAXES
The Company’s Income and mining tax benefit (expense) consisted of:
Year Ended December 31,
202520242023
Current:
United States$(157)$(93)$(20)
Foreign(3,048)(1,224)(610)
(3,205)(1,317)(630)
Deferred:
United States(96)(157)62 
Foreign(1,295)77 42 
(1,391)(80)104 
Income and mining tax benefit (expense)$(4,596)$(1,397)$(526)
The Company’s Income (loss) before income and mining tax and other items is attributable to the following jurisdictions:
Year Ended December 31,
202520242023
United States$1,527 $536 $111 
Foreign9,815 4,041 (2,142)
Income (loss) before income and mining tax and other items$11,342 $4,577 $(2,031)
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:
Year Ended December 31, (1)
202520242023
Income (loss) before income and mining tax and other items$11,342 $4,577 $(2,031)
U.S. Federal statutory tax rate21 %$(2,382)21 %$(961)21 %$427 
Reconciling items:
Domestic state and local income taxes, net of federal income tax effect (2)
1 %(78)1 %(35)(1)%(25)
Domestic federal:
Tax Credits— %— (1)%37 1 %19 
Nontaxable and nondeductible items:
Percentage depletion(1)%83 (1)%63 4 %72 
Other nontaxable and nondeductible items1 %(76)— %(3)(1)%(14)
Cross-border tax laws— %(17)— %(21)— %(10)
Changes in valuation allowance— %18 (1)%34 9 %192 
Impact of Transactions
(2)%278 3 %(157)— %— 
Impact of Foreign Tax Credit and U.S. Capital Losses Expiration— %— — %— (10)%(195)
Other— %9 1 %(53)— %— 
Worldwide changes in unrecognized tax benefits— %(1)(1)%63 1 %28 
Foreign tax effects:
Argentina:
Tax impact of foreign exchange(1)%65 2 %(93)2 %34 
Changes in valuation allowance— %(28)(2)%94 (3)%(56)
Other— %(15)1 %(36)— %7 
Australia:
Northern Territory Mineral Royalty1 %(127)2 %(79)(3)%(62)
Changes in valuation allowance(1)%60 1 %(24)1 %30 
Other— %(19)(1)%30 — %(4)
Rate differential for foreign earnings indefinitely reinvested4 %(304)3 %(157)(10)%(195)
Canada:
Mining and other taxes (net of associated federal benefit)— %(46)2 %(92)— %(2)
Tax impact of foreign exchange— %(25)(2)%73 (2)%(36)
Rate differential for foreign earnings indefinitely reinvested— %(51)— %9 1 %27 
Changes in valuation allowance1 %(69)(4)%182 (1)%(26)
Goodwill impairment— %— — %— (7)%(135)
Other1 %(91)(1)%39 — %— 
Ghana: (3)
Rate differential for foreign earnings indefinitely reinvested1 %(158)3 %(115)(3)%(55)
Transactions1 %(168)— %— — %— 
Permanent Assertion Removal1 %(165)— %— — %— 
Other1 %(74)1 %(27)(1)%(11)
Mexico:
Tax impact of foreign exchange— %52 (1)%57 — %(1)
Mining Tax1 %(126)— %(12)— %8 
Rate differential for foreign earnings indefinitely reinvested1 %(135)1 %(54)8 %162 
Changes in valuation allowance1 %(57)— %18 (2)%(34)
Goodwill impairment— %— — %— (18)%(363)
Prior period adjustment— %— — %— (1)%(27)
Other— %(10)1 %(37)1 %(11)
PNG:
Permanent Assertion Removal4 %(384)— %— — %— 
Other1 %(134)1 %(48)— %(8)
Peru:
Rate differential for foreign earnings indefinitely reinvested— %(40)1 %(30)4 %91 
Changes in valuation allowance2 %(282)— %13 (16)%(329)
Other1 %(64)1 %(37)— %(4)
Other foreign jurisdictions:
Rate differential for foreign earnings indefinitely reinvested— %— — %1 — %2 
Other— %(35)— %(39)— %(22)
Income and mining tax benefit (expense)40 %$(4,596)31 %$(1,397)(26)%$(526)
____________________________
(1)Percentages presented may not recalculate due to rounding.
(2)State taxes are comprised entirely of Nevada Net Proceeds Tax, net of federal benefit.
(3)Pursuant to the expiration of the Financial and Tax Stability Periods established by the Revised Investment Agreement in Ghana on December 31, 2025, the statutory tax rate for the Ahafo operations increased to 35% from 32.5%. The deferred balances were adjusted for the change to the tax rate and a $20 tax expense was recorded.
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 metals 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 $—, $222, and $—, expired in 2025, 2024 and 2023, respectively. The Company carries a full valuation allowance on U.S. capital losses.
In 2025, 2024, and 2023, the U.S. had foreign tax credits of $—, $—, and $193, respectively, expire.
Components of the Company's deferred income tax assets (liabilities) are as follows:
At December 31,
20252024
Deferred income tax assets:
Property, plant and mine development$1,257 $887 
Inventory100 132 
Reclamation and remediation2,246 2,077 
Net operating losses, capital losses and tax credits 2,217 2,297 
Employee-related benefits50 24 
Derivative instruments and unrealized loss on investments10 79 
Foreign exchange and financing obligations90 58 
Silver streaming agreement203 253 
Other546 555 
6,719 6,362 
Valuation allowances(4,782)(4,363)
1,937 1,999 
Deferred income tax liabilities:
Property, plant and mine development(4,320)(3,749)
Inventory(228)(132)
Investment in partnerships and subsidiaries (1,192)(582)
Other(197)(232)
(5,937)(4,695)
Net deferred income tax assets (liabilities)$(4,000)$(2,696)
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 the Company's projections for future growth. 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 the Company's projections for growth.
During 2025, the Company recorded an increase to the valuation allowance of $295 and a corresponding tax expense, primarily driven by increases in the net deferred tax assets in Argentina and Peru, the valuation allowance on Canada's capital loss, offset by the release associated with the utilization of capital loss carryforwards in the U.S. and Australia.
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, 2025 and 2024, the Company had (i) $1,524 and $2,005 of net operating loss carry forwards, respectively; and (ii) $563 and $414 of tax credit carry forwards, respectively. At December 31, 2025 and 2024, $429 and $760, 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 $577 will expire by 2044. The net operating loss carryforward in Mexico of $187 will expire by 2034. The net operating loss carry forward in other countries is $331.
The U.S. tax credit carry forwards for 2025 and 2024, were $369 and $337, respectively. The foreign tax credits will substantially all expire at the end of 2035, and the solar tax credit for 2024 of $28 will expire by 2046. Canadian tax credits for 2025 and 2024 of $194 and $77, respectively, consist of investment tax credits and minimum mining tax credits. Canadian investment tax credits for 2025 consisted of $93 which will substantially expire by 2044.
Income and Mining Taxes Paid, Net of Refunds
The amounts of income and mining taxes paid, net of refunds, by the Company are as follows:
Year Ended December 31,
202520242023
U.S. Federal$17 $1 $(1)
U.S. State and local:
Nevada50 40 19 
Foreign:
Australia737 341 414 
Canada*64 *
Ghana675 418 223 
Mexico315 *93 
PNG
158 **
Peru
341 **
Other165 102 46 
Total income and mining taxes paid, net of refunds$2,458 $966 $794 
____________________________
*The amount of income and mining taxes paid, net of refunds during the year does not meet the 5% disaggregation threshold.
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:
202520242023
Total amount of gross unrecognized tax benefits at beginning of year$111 $144 $190 
Additions (reductions) for tax positions of prior years 10 (8)13 
Additions for tax positions of current year — — 2 
Reductions due to settlements with taxing authorities (12)(2)(18)
Reductions due to lapse of statute of limitations (5)(23)(43)
Total amount of gross unrecognized tax benefits at end of year$104 $111 $144 
At December 31, 2025, 2024, and 2023, $128, $125, and $190, 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 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 2016.
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, 2025 and 2024, the total amount of accrued income-tax-related interest and penalties included in the Consolidated Balance Sheets was $55 and $47, respectively. During 2025, 2024, and 2023 the Company increased $8 and $31, and released $1 of interest and penalties, respectively, through the Consolidated Statements of Operations.
Refer to Note 24 for further discussion of tax matters.
Other
In the fourth quarter of 2025, the Company has provided additional income taxes for the remaining undistributed foreign earnings in Ghana and Papua New Guinea, $165 and $384, respectively, as it was determined excess cash flow could not be remitted on a tax free basis for the foreseeable future. No additional income taxes have been provided in other jurisdictions for any additional outside basis difference inherent at these entities, as these amounts continue to be indefinitely reinvested in foreign operations.
v3.25.4
EMPLOYEE-RELATED BENEFITS
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
EMPLOYEE-RELATED BENEFITS EMPLOYEE-RELATED BENEFITS
At December 31,
20252024
Current:
Accrued payroll and withholding taxes $534 $461 
Workers’ participation and other bonuses288 108 
Accrued severance (1)
38 19 
Other post-retirement benefit plans12 11 
Employee pension benefits 2 5 
Other employee-related payables 24 26 
$898 $630 
Non-current:
Accrued severance (1)
$466 $386 
Other post-retirement benefit plans 58 55 
Employee pension benefits 33 29 
Other employee-related payables 77 85 
$634 $555 
____________________________
(1)In the third quarter of 2025, management commenced a strategic plan to reduce operating costs and enhance profitability through organizational streamlining and reductions in workforce and office space in certain markets, resulting in accruals for severance and related restructuring charges recognized for the year ended December 31, 2025. Refer to Note 8 for further information.
Pension and Other Benefit Plans
The Company provides a defined benefit pension plan to eligible employees, with benefits generally based on years of service and annual compensation. Various international pension plans operate in accordance with local laws and requirements. Pension costs are determined annually by independent actuaries. The Company funds its qualified pension plan through cash contributions in compliance with employee Retirement Income Security Act of 1974, as amended. Non-qualified and other benefit plans are unfunded and represent general corporate obligations. The tables below present the combined funded status of both qualified and non-qualified plans. The Company reviews its retirement benefit programs on a regular basis and will evaluate market conditions and the funded status of its qualified plans in 2026 in order to determine if additional contributions are necessary.
The following table provides a reconciliation of changes in the plans’ benefit obligations and assets’ fair values:
Pension BenefitsOther Benefits
2025202420252024
Change in benefit obligation:
Benefit obligation at beginning of year$313 $325 $60 $71 
Service cost12 14 1 1 
Interest cost16 17 4 4 
Actuarial loss (gain)
6 (14)12 (10)
Foreign currency exchange loss (gain)
1 (6)1 (2)
Benefits paid(26)(20)(15)(4)
Curtailment gain(6)— — — 
Settlement payments(5)(3)— — 
Divestitures (1)
(39)— — — 
Projected benefit obligation at end of year$272 $313 $63 $60 
Accumulated benefit obligation$253 $294 $63 $60 
Change in fair value of assets:
Fair value of assets at beginning of year$313 $322 $— $— 
Actual return on plan assets
33 11 — — 
Foreign currency exchange loss
— (4)— — 
Employer contributions6 7 15 4 
Benefits paid(26)(20)(15)(4)
Settlement payments(5)(3)— — 
Divestitures (1)
(39)— — — 
Fair value of assets at end of year$282 $313 $— $— 
(Unfunded) funded status, net:$10 $— $(63)$(60)
Amounts recognized in the Consolidated Balance Sheets:
Other non-current assets (2)
$45 $37 $— $— 
Employee-related benefits, current(2)(5)(5)(5)
Employee-related benefits, non-current (2)
(33)(32)(58)(55)
Net amounts recognized$10 $— $(63)$(60)
____________________________
(1)The Company divested the projected benefit obligation and plan assets related to the defined benefit pension plan at Porcupine as a result of the divestment on February 28, 2025. Refer to Note 3 for additional information.
(2)Includes $4 of non-current assets and $3 of non-current liabilities related to the pension plan at Porcupine that were reclassified to Assets held for sale and Liabilities held for sale as of December 31, 2024; no amounts remained in Assets held for sale or Liabilities held for sale as of December 31, 2025. Refer to Note 3 for additional information.
The following table provides information for the Company's defined benefit pension plans that had aggregate accumulated benefit obligations and projected benefit obligations in excess of plan assets at December 31:
Pension Benefits (1)
20252024
Projected benefit obligation$37 $39 
Accumulated benefit obligation$28 $32 
Fair value of plan assets$1 $2 
____________________________
(1)Information for other benefit plans with accumulated benefit obligations in excess of plan assets has not been included as all of the other benefit plans are unfunded.
The following table provides the net pension and other benefits amounts recognized in Accumulated other comprehensive income (loss):
Pension BenefitsOther Benefits
At December 31,At December 31,
2025202420252024
Accumulated other comprehensive income (loss):
Net actuarial (loss) gain$(57)$(71)$29 $33 
Prior service credit2 2 — — 
(55)(69)29 33 
Less: Income taxes13 15 (6)(7)
Total$(42)$(54)$23 $26 
The following table provides components of the total benefit cost (income), inclusive of the net periodic pension and other benefits costs (credits):
Pension Benefit Costs (Credits)Other Benefit Costs (Credits)
Year Ended December 31,Year Ended December 31,
202520242023202520242023
Pension benefit cost (income), net: (1)
Service cost $12 $14 $12 $1 $1 $1 
Interest cost 16 17 17 4 4 4 
Expected return on plan assets (20)(24)(23)— — — 
Amortization, net3 1 (7)8 (2)(2)
Net periodic benefit cost (income)11 8 (1)13 3 3 
Settlement cost
1 1 9 — — — 
Gain on curtailment
(1)— — — — — 
Total benefit cost$11 $9 $8 $13 $3 $3 
____________________________
(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 summarizes the significant assumptions used to determine the benefit obligations at December 31, and net periodic benefit costs for the year then ended:
Pension BenefitsOther Benefits
202520242023202520242023
Benefit obligation:
Discount rate5.98 %5.77 %5.33 %6.48 %6.54 %6.09 %
Net periodic benefit cost:
Discount rate5.77 %5.33 %5.63 %6.54 %6.09 %6.10 %
Expected return on plan assets7.20 %7.09 %6.38 %N/AN/AN/A
The expected long-term return on plan assets used for each period in the three years ended December 31, 2025 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. 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 assumed health care trend rate used to measure the expected cost of benefits is 6.75% in 2026 and decreases gradually each year to 5.00% in 2033, which is used thereafter.
The qualified pension plan employs 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 is 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 related to asset classes.
The following table sets forth the Company’s target asset allocation and pension plan assets measured at fair value:
At December 31,
Target Allocation20252024
Commingled Funds: (1)
Fixed income investments45 %$123 $143 
World equity fund (U.S. and International equity investments)20 %55 54 
International equity investments12 %34 45 
U.S. equity investments11 %33 34 
Real estate8 %25 25 
High yield fixed income investments4 %11 11 
281 312 
Cash equivalents (2)
— %1 1 
Total$282 $313 
____________________________
(1)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.
(2)Cash equivalent instruments are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets and are primarily invested in money market securities and U.S. Treasury securities.
Cash Flows
Expected benefit payments to plan participants are as follows:
Pension PlanOther Benefits Plan
2026$15 $6 
2027$16 $6 
2028$19 $6 
2029$20 $5 
2030$19 $5 
Thereafter$114 $27 
Savings Plans
The Company has one qualified defined contribution savings plan in the U.S. that covers salaried and hourly employees. When an employee meets eligibility requirements, the Company matches 100% of employee contributions of up to 6% of eligible earnings. Hourly 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.
v3.25.4
STOCK-BASED COMPENSATION
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
The Company grants stock-based incentive awards to directors, executives and eligible employees. Stock incentive awards include RSUs and PSUs and are determined as a target percentage of base salary. All RSU awards generally vest on a straight-line basis over three years. All PSU awards generally cliff vest after three years and the number of awards that vest is based on the achievement of the market and performance metrics. For employees who are retirement eligible or who become retirement eligible during the term of the award, the vesting period may be reduced based on the retirement eligibility date.
Prior to vesting, holders of stock incentive awards do not have the right to vote the underlying shares; however, directors, executives and eligible employees accrue dividend equivalents on their stock incentive awards, which are paid at the time the awards vest. The accrued dividend equivalents are not paid if awards are forfeited. Upon vesting, the employee is entitled to receive one share of the Company’s common stock for each RSU or PSU. The Company issues new shares of common stock to satisfy vesting under all of its stock incentive awards. At December 31, 2025, 18,214,007 shares were authorized for issuance for future vesting of stock incentive awards.
Total stock-based compensation was $99, $89, and $80 (including $20, $6, and $4 related to the Company's proportionate share of NGM stock-based compensation) for the years ended December 31, 2025, 2024, and 2023, respectively. At December 31, 2025, there was $92 of unrecognized compensation costs related to the unvested stock incentive awards. This cost is expected to be recognized over a weighted average period of approximately two years.
A summary of the status and activity of non-vested RSUs and PSUs for the year ended December 31, 2025 is as follows:
RSUPSU
Number of UnitsWeighted Average Grant-Date Fair ValueNumber of UnitsWeighted Average Grant-Date Fair Value
Non-vested at beginning of year3,278,470 $36.13 1,641,713 $44.58 
Granted1,782,952 $46.11 419,290 $31.24 
Vested(1,453,507)$39.88 — $— 
Forfeited(674,378)$38.04 (332,854)$41.35 
Non-vested at end of year2,933,537 $39.90 1,728,149 $41.96 
The total intrinsic value and fair value of RSUs that vested in 2025, 2024, and 2023 was $68, $37, and $36, respectively. The total intrinsic value and fair value of PSUs that vested in 2025, 2024, and 2023 was $—, $6, and $35, respectively.
v3.25.4
FAIR VALUE ACCOUNTING
 12 Months Ended
Dec. 31, 2025
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, 2025
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents (1)
$7,647 $7,647 $— $— 
Restricted cash37 37 — — 
Trade receivables from provisional concentrate sales1,064 — 1,064 — 
Long-lived assets (Note 7)
78 — — 78 
Marketable equity and other securities (Note 15)
740 740 — — 
Restricted marketable debt and other securities (Note 6)
13 13 — — 
Derivative assets (Note 14)
262 — 60 202 
$9,841 $8,437 $1,124 $280 
Liabilities:
Debt (Note 20) (2)
$5,283 $— $5,283 $— 
Derivative liabilities (Note 14)
1 — 1 — 
Other liabilities339 — 339 — 
$5,623 $— $5,623 $— 
Fair Value at December 31, 2024
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents (1)
$3,619 $3,619 $— $— 
Restricted cash31 31 — — 
Trade receivables from provisional concentrate sales993 — 993 — 
Assets held for sale (Note 3) (3)
1,840 — 1,168 672 
Equity method investment
212 212 — — 
Marketable equity and other securities (Note 15)
305 305 — — 
Restricted marketable debt and other securities (Note 6)
15 15 — — 
Derivative assets (Note 14)
142 — — 142 
$7,157 $4,182 $2,161 $814 
Liabilities:
Debt (Note 20) (2)
$8,400 $— $8,400 $— 
Derivative liabilities (Note 14)
143 — 137 6 
Other liabilities51 — 51 — 
$8,594 $— $8,588 $6 
____________________________
(1)Cash and cash equivalents include short-term deposits that have an original maturity of three months or less.
(2)Debt is carried at amortized cost. The outstanding carrying value was $5,115 and $8,476 at December 31, 2025 and December 31, 2024, respectively. The fair value measurement of debt was based on an independent third-party pricing source.
(3)Includes assets held for sale that were written down to their fair value, excluding costs to sell, of $1,840 and the aggregate fair value, excluding costs to sell, of net assets held for sale subject to fair value remeasurement was $679.
The Company’s cash and cash equivalents and restricted cash 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 trade receivables from provisional 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 long-lived assets consist of long-lived assets at Yanacocha that were subject to a non-recurring fair value measurement as a result of impairment tests performed for the year ended December 31, 2025. The Company performed a non-recurring fair value measurement, classified as Level 3 of the fair value hierarchy, in connection with recoverability and impairment tests performed over long-lived assets. Refer to Note 7 for further information regarding management’s assessment of these long-lived assets, including the assumptions utilized in determining the fair value.
The Company's assets held for sale consisted of the six non-core assets and a development project that met the accounting requirements to be presented as held for sale as of December 31, 2024, which were all divested as of December 31, 2025. The estimated fair values of assets held for sale are considered a non-recurring level 2 or 3 fair value measurements and were determined using (i) the market-based approach for disposal groups in which a binding sales agreement was in place but close had not yet occurred, or (ii) the income approach in the absence of a binding sales agreement. Refer to Note 3 for further information.
The Company's equity method investment consisted of the Greatland equity method investment which was accounted for under the fair value option at December 31, 2024 and classified as Level 1 within the fair value hierarchy as it was valued using published market prices of actively traded securities. At December 31, 2025, the remaining shares in Greatland were accounted for as a marketable equity security. Refer to Note 3 for further information.
The Company’s marketable equity and other 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 restricted marketable debt and other securities are primarily U.S. government issued bonds and international bonds. The Company’s debt securities held at Yanacocha are classified within Level 1 of the fair value hierarchy, using published market prices of actively traded securities. The Company’s debt securities held at Corporate and Other 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 derivative instruments consist of the Cadia PPA, foreign currency fixed forward contracts, and contingent consideration assets that are accounted for as derivatives.
The Cadia PPA is accounted for at fair value using probability-weighted discounted cash flow models and is classified within Level 3 of the fair value hierarchy. The valuation model requires a variety of inputs including life of mine production profiles, forward power prices, forecasted power generation volume, discount rates, and inflation assumptions. Refer to Note 14 for further information.
The foreign currency fixed forward contracts are valued using pricing models based on forward curves. The Company’s foreign currency fixed forward derivatives trade in liquid markets, and as such, model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy. Refer to Note 14 for further information.
The contingent consideration asset, accounted for as a derivative, is classified within Level 3 of the fair value hierarchy. The contingent consideration is dependent on the average gold price over a defined period. As a result, changes in the future gold prices could result in an impact to the estimated fair value of the contingent consideration asset.
The Company's other liabilities recognized at fair value consist of the Greatland Option, which was acquired through the sale of Telfer in the fourth quarter of 2024. The Greatland Option is accounted for under the fair value option and is classified as Level 2 within the fair value hierarchy and is valued using pricing models which are based on published market inputs for similar, actively traded securities. Refer to Note 3 for further 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, 2025 and December 31, 2024:
DescriptionAt December 31, 2025Valuation techniqueSignificant inputRange, point estimate or averageWeighted Average Discount Rate
Long-lived assets$78 
Market-based approach
Various (1)
Various (1)
Derivative assets:
Hedging instruments
$162 Income approachForward power prices
A$37 - A$703
7.00%
Contingent consideration assets$40 Income approach
Forward gold prices
$4,254—%

DescriptionAt December 31, 2024Valuation techniqueSignificant inputRange, point estimate or average
Weighted Average Discount Rate
Assets held for sale (2)
$672 Income approach
Various (2)
Various (2)
9.75%
Derivative assets
Hedging instruments (3)
$94 Income approachForward power prices
A$43 - A$321
6.75%
Contingent consideration assets$47 Income approachDiscount rate
6.37% - 16.38%
10.67%
Derivative liabilities (3)
$5 Income approachDiscount rate
5.22% - 5.95%
5.66%
____________________________
(1)Refer to Note 7 for information on the assumptions and inputs specific to the non-recurring fair value measurement performed in connection with recoverability and impairment tests incurred for certain long-lived assets.
(2)Significant inputs at December 31, 2024 included: (i) cash flow estimates, (ii) a long-term gold price of $1,900, (iii) current estimates of resources and exploration potential, and (iv) a reporting unit specific discount rate of 9.75%.
(3)Hedging instruments consists of the net position of the Cadia PPA which is comprised of $1 is in a liability position and the non-current portion of $95 is in an asset position. The current liability portion is included in Derivative liabilities within the fair value hierarchy table and the non-current asset portion is included in Derivative assets within the fair value hierarchy table.
The following tables set forth a summary of changes in the fair value of the Company’s recurring Level 3 financial assets and liabilities:
Derivative Assets
Total Assets
Derivative Liabilities
Total Liabilities
Fair value at December 31, 2023$635 $635 $5 $5 
Sales and settlements (1)
(377)(377)— — 
Transfers out of Level 3 (2)
(76)(76)— — 
Fair value changes in Other comprehensive income (loss):
(53)(53)1 1 
Fair value changes in Change in fair value of investments and options
2 2 — — 
Fair value changes in Net income (loss) from discontinued operations
11 11 — — 
Fair value at December 31, 2024142 142 6 6 
Acquired through divestments (3)
14 14 — — 
Transfers out of Level 3 (4)
(47)(47)(5)(5)
Fair value changes in Other comprehensive income (loss):
67 67 (1)(1)
Fair value changes in Change in fair value of investments and options
26 26 — — 
Fair value at December 31, 2025$202 $202 $— $— 
____________________________
(1)In the second quarter of 2024, the Company sold the Stream Credit Facility Agreement which was a non-revolving credit facility for the Fruta del Norte mine operated by Lundin Gold Inc. (“Lundin Gold”), in which the Company holds a 32% interest; refer to Note 14 for further information. In the third quarter of 2024, the company sold the Batu and Elang Contingent consideration assets; refer to Note 1 for further information.
(2)In the first quarter of 2024, certain amounts relating to the Batu Hijau contingent consideration asset were reclassified from a derivative to a receivable as a result of achieving certain contractual milestones.
(3)The Company acquired contingent consideration assets as part of the divestitures that occurred in 2025. Refer to Note 3 for further information.
(4)The Company early adopted ASU 2025-07 on December 31, 2025 resulting in the reclassification of certain derivatives assets and liabilities. Refer to Note 14 for further information.
v3.25.4
DERIVATIVE INSTRUMENTS
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS DERIVATIVE INSTRUMENTS
At December 31,
20252024
Current derivative assets: (1)
Hedging instruments:
Foreign currency cash flow hedges
$60 $— 
Cadia PPA cash flow hedge
7 — 
67 — 
Contingent consideration assets (2)
20 — 
$87 $— 
Non-current derivative assets: (3)
Hedging instruments:
Cadia PPA cash flow hedge
$155 $95 
Contingent consideration assets (2)
20 47 
$175 $142 
Current derivative liabilities: (4)
Hedging instruments:
Foreign currency cash flow hedges
$1 $135 
Cadia PPA cash flow hedge
— 1 
1 136 
Contingent consideration liabilities (2)
— 2 
$1 $138 
Non-current derivative liabilities: (5)
Contingent consideration liabilities (2)
$— $5 
$— $5 
____________________________
(1)Included in Other current assets.
(2)The Company early adopted ASU 2025-07 on December 31, 2025 resulting in the reclassification of certain contingent consideration assets and liabilities. Refer below for further information.
(3)Included in Other non-current assets.
(4)Included in Other current liabilities.
(5)Included in Other non-current liabilities.
ASU 2025-07 Adoption
The Company early adopted ASU 2025-07 on December 31, 2025. The ASU refines the scope of Topic 815 (Derivatives and Hedging) by adding a scope exception from derivative accounting for non-exchange-traded contracts with underlyings that are based on operations or activities specific to one of the parties to the contract. As a result, contingent consideration assets and liabilities from prior transactions that met this criterion no longer qualified as derivatives and were reclassified to other assets and liabilities.
Hedging Instruments
Hedging instruments consisted of the foreign currency cash flow hedges and the Cadia PPA at December 31, 2025.
To minimize credit risk, the Company only enters into transactions with counterparties that meet certain credit requirements and periodically reviews the creditworthiness of these counterparties. The Company believes that the risk of counterparty default is low and its exposure to credit risk is minimal.
Foreign Currency Cash Flow Hedges
The Company has implemented various hedge programs in which fixed forward contracts have been entered into to mitigate variability in the USD-functional cash flows associated with specific expenditures. These fixed forward contracts have been designated as foreign currency cash flow hedges for the related forecasted expenditures and were transacted for risk management purposes. Refer to the table below for a summary of these programs at December 31, 2025:
AUD-denominated capital expendituresAUD-denominated operating expendituresCAD-denominated operating expenditures
AUD-denominated capital expenditures
Status:ActiveActiveActive
Matured (1)
Amount entered into:A$1,734A$4,002C$1,088A$574
Cash flow type:Capital expenditures for construction and developmentOperating expendituresOperating expendituresCapital expenditures for construction and development
Incurred in the periods of:October 2024 through December 2026October 2024 through December 2026October 2024 through December 20262023 through 2024
Related to:Tanami Expansion 2 project; Cadia PC1-2 and PC2-3 ("Cadia Panel Caves"); and Cadia Tailings Project ("Cadia Tails")Boddington, Tanami, and Cadia operating mines located in AustraliaBrucejack and Red Chris operating mines located in CanadaTanami Expansion 2 project
____________________________
(1)The hedge program matured in 2024 and a gain of $7 remains in Accumulated other comprehensive income (loss) as of December 31, 2025.
The unrealized changes in fair value have been recorded in Accumulated other comprehensive income (loss) and are reclassified to earnings during the period in which the hedged transaction impacts earnings and is presented in the same statement of operations line item as the earnings effect of the hedged item. If the underlying hedge transaction becomes probable of not occurring, the related amounts will be reclassified to earnings immediately. Amounts related to capital expenditures recorded in Accumulated other comprehensive income (loss) are reclassified to earnings through Depreciation and amortization after the respective project reaches commercial production. Amounts related to operating expenditures recorded in Accumulated other comprehensive income (loss) are reclassified to earnings through Costs applicable to sales in the period that the operating expenditures are incurred.
Cadia PPA
The Cadia PPA is a 15-year renewable power purchase agreement acquired by the Company through the Newcrest transaction. The Company has designated the Cadia PPA as a cash flow hedge to mitigate the variability in cash flows related to approximately 40 percent of forecasted purchases of power at the Cadia mine for a 15 year period beginning in July 2024. Additionally, the Cadia PPA will provide the Company with access to large scale generation certificates which the Company intends to surrender to achieve a reduction in its greenhouse gas emissions.
The unrealized changes in fair value have been recorded in Accumulated other comprehensive income (loss) and will be reclassified to earnings during the period in which the hedged transaction impacts earnings and is presented in the same statement of operations line item as the earnings effect of the hedged item. If the underlying hedge transaction becomes probable of not occurring, the related amounts in Accumulated other comprehensive income (loss) will be reclassified to earnings immediately. Amounts recorded in Accumulated other comprehensive income (loss) will be reclassified to earnings through Costs applicable to sales in the period in which the related hedged electricity is purchased, which began in July 2024.
The following table provides the losses (gains) recognized in earnings related to the Company's derivative instruments designated for hedging:
Year Ended December 31,
202520242023
Loss on cash flow hedges:
Interest rate contracts (1)
$57 $10 $5 
Foreign currency cash flow hedges (2)
30 7 19 
Cadia PPA cash flow hedge (3)
7 5 — 
$94 $22 $24 
____________________________
(1)As of December 31, 2025, amounts remaining in Accumulated other comprehensive income (loss) fully relate to the interest rate contracts on the 2042 Senior Notes with the related losses to be reclassified from Accumulated other comprehensive income (loss) and amortized to Interest expense, net of capitalized interest over the term of the notes. A loss of $3 is expected to be reclassified into earnings over the next 12 months. The actual amounts that will be reclassified to earnings could vary upon repurchase or exchange of the related long-term debt prior to maturity.
(2)As of December 31, 2025, a gain of $45 is expected to be reclassified out of Accumulated other comprehensive income (loss) into earnings over the next 12 months. The actual amounts that will be reclassified to earnings will vary due to future foreign currency exchange rates.
(3)As of December 31, 2025, a loss of $10 is expected to be reclassified out of Accumulated other comprehensive income (loss) into earnings over the next 12 months, which includes the amounts related to the initial fair value that are reclassified from Accumulated other comprehensive income (loss) to earnings on a systematic basis over the 15-year term. The actual amounts that will be reclassified to earnings will vary due to future power prices and power generation volumes.
Derivative Assets, Not Designated for Hedging
Stream Credit Facility Agreement ("SCFA")
The SCFA was a non-revolving credit facility in relation to the Fruta del Norte mine, which is wholly owned and operated by Lundin Gold in which the Company holds a 32% equity interest. The SCFA was a financial instrument that met the definition of a derivative and was accounted for at fair value using a probability weighted discounted cash flow model, but was not designated for hedge accounting under ASC 815. In the second quarter of 2024, the Company completed the sale of the SCFA and Offtake agreement in which Lundin Gold repurchased the SCFA and settled the rights under the Offtake agreement for cash consideration of $330, of which $180 and $150 was received in the second quarter and third quarter of 2024, respectively. The sale resulted in a gain of $49 recognized in Other income (loss), net
v3.25.4
INVESTMENTS
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS
At December 31,
20252024
Current investments:
Marketable equity securities$594 $21 
Non-current investments:
Marketable equity and other securities (1)
$171 $309 
Equity method investments (% ownership): 
Pueblo Viejo Mine (40%)
1,584 1,516 
NuevaUnión Project (50%)
973 961 
Lundin Gold (32%)
905 941 
Norte Abierto Project (50%)
553 532 
Greatland (20% at December 31, 2024) (2)
— 212 
4,015 4,162 
$4,186 $4,471 
____________________________
(1)Includes $25 accounted for under the measurement alternative.
(2)The Company's investment in Greatland, acquired through the sale of Telfer in the fourth quarter of 2024, is included in equity method investments under the fair value option at December 31, 2024 and in current marketable equity and other securities at December 31, 2025 as it no longer qualifies as an equity method investment with an ownership of 10% and loss of significance influence. Refer to Note 3 for further information.
Equity Method Investments
The following table provides the income (loss) from the Company's equity method investments, recognized in Equity income (loss) of affiliates:
Year Ended December 31,
202520242023
Pueblo Viejo (40%)
$245 $91 $63 
Lundin Gold (32%)
169 45 — 
Other7 (3)— 
$421 $133 $63 
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 fair 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, 2025 the net basis difference was $290.
In November 2020, the Company and Barrick entered into an agreement with Pueblo Viejo to provide funding for the expansion of Pueblo Viejo's operations of up to $1,300 ($520 attributable to Newmont's 40% ownership interest) through a loan facility bearing interest at 95% of the 6-month SOFR plus 4.25% which is compounded semi-annually in arrears on February 28 and August 31 of each year (“Loan Facility”). The Loan Facility was provided in two tranches of $800 and $500, respectively. Unused proceeds under the first tranche are available for use under the second tranche. The tranches mature February 28, 2032 and February 28, 2035, respectively. In October 2024, the Company and Barrick agreed to provide additional funding of up to $800 ($320 attributable to Newmont's 40% ownership interest) through an additional loan facility bearing interest at the 6-month SOFR plus 3.81% which is compounded semi-annually in arrears on February 15 and August 15 of each year and matures on February 15, 2039 (“Loan Facility II”). Under the terms of the respective agreements, the Company and Barrick distribute funds based on their respective proportionate ownership interest in Pueblo Viejo.
As of December 31, 2025 and December 31, 2024, the Company had outstanding stockholder loans to Pueblo Viejo of $518 and $486, which includes accrued interest of $60 and $19, respectively. All loans receivable and accrued interest are included in the Pueblo Viejo equity method investment balance.
The Company purchases its portion (40%) 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 $934 and $580 for the years ended December 31, 2025 and December 31, 2024, 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, 2025 or December 31, 2024.
NuevaUnión
The NuevaUnión project is located in Chile and is currently in the Company’s development project pipeline. The project is jointly managed by Newmont and Teck Resources Limited, who holds the remaining 50% 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.
At December 31, 2025 the carrying value of Newmont’s equity investment in NuevaUnión was lower than the underlying net assets of its investment by $67. 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, which had not yet occurred as of December 31, 2025.
Lundin Gold Inc.
Lundin Gold is a Canadian based mine development and operating company which wholly owns and operates the Fruta del Norte gold mine in Ecuador. On November 6, 2023, as a part of the Newcrest transaction, the Company acquired 32% interest in Lundin Gold. The Company accounts for Lundin Gold as an equity method investment on a quarter lag. At acquisition, the fair value of Newmont’s equity investment in Lundin Gold was higher than the underlying net assets of its investment resulting in a basis difference. This basis difference is being amortized into Equity income (loss) of affiliates over the remaining estimated useful life of the mine. As of December 31, 2025 the net basis difference was $536. At December 31, 2025, the calculated fair value, based on quoted closing prices of publicly traded shares, of the Company's investment in Lundin Gold was $6,404.
The Company had the right to purchase 50% of gold produced from Lundin Gold at a price determined based on delivery dates and a defined quotational period and resold the ounces purchased to third parties under an offtake agreement acquired through the Newcrest transaction (the "Offtake agreement"). In the second quarter of 2024, the Company completed the sale of the SCFA and Offtake agreement in which Lundin Gold repurchased the SCFA and settled the rights under the Offtake agreement.
Total payments made to Lundin Gold under the Offtake agreement for gold purchased were $189 for the year ended December 31, 2024. These purchases, net of subsequent sales, were included in Other income (loss), net and the net amount was immaterial. There were no payables due to Lundin Gold for gold purchases as of December 31, 2024.
Norte Abierto
The Norte Abierto project is located in Chile and is currently in the Company’s development project pipeline. The project is jointly managed by Newmont and Barrick, who holds the remaining 50% interest.
At December 31, 2025 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, which had not yet occurred as of December 31, 2025.
v3.25.4
INVENTORIES
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
At December 31,
20252024
Materials and supplies$1,060 $1,081 
In-process199 118 
Concentrate162 148 
Precious metals91 76 
Inventories (1)
$1,512 $1,423 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, the related assets, including Inventories of $185, were reclassified to Assets held for sale at December 31, 2024; no amounts related to Inventories were reclassified to Assets held for sale at December 31, 2025. Refer to Note 3 for additional information.
The Company recorded write-downs classified as components of Costs applicable to sales and Depreciation and amortization to reduce the carrying value of inventories to net realizable value as follows:
Year Ended December 31,
2025 (1)
2024 (2)
2023 (3)
Costs applicable to sales$2 $44 $37 
Depreciation and amortization1 5 15 
$3 $49 $52 
____________________________
(1)For the year ended December 31, 2025, write-downs were not material.
(2)For the year ended December 31, 2024, write-downs primarily related to Telfer and Cerro Negro.
(3)For the year ended December 31, 2023, write-downs primarily related to Peñasquito.
STOCKPILES AND ORE ON LEACH PADS
At December 31, 2025
At December 31, 2024 (1)
StockpilesOre on Leach PadsTotalStockpilesOre on Leach PadsTotal
Current$893 $284 $1,177 $624 $137 $761 
Non-current2,284 126 2,410 2,072 194 2,266 
Total$3,177 $410 $3,587 $2,696 $331 $3,027 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, the related assets, including Stockpiles and ore on leach pads of $374, were reclassified to Assets held for sale at December 31, 2024; no amounts related to Stockpiles and ore on leach pads were reclassified to Assets held for sale at December 31, 2025. Refer to Note 3 for additional information.
The Company recorded write-downs classified as components of Costs applicable to sales and Depreciation and amortization to reduce the carrying value of stockpiles and ore on leach pads to net realizable value as follows:
Year Ended December 31,
2025 (1)
2024 (2)
2023 (3)
Costs applicable to sales$25 $48 $60 
Depreciation and amortization10 16 15 
$35 $64 $75 
____________________________
(1)For the year ended December 31, 2025, write-downs primarily related to NGM.
(2)For the year ended December 31, 2024, write-downs primarily related to Red Chris and NGM.
(3)For the year ended December 31, 2023, write-downs primarily related to NGM.
v3.25.4
STOCKPILES AND ORE ON LEACH PADS
 12 Months Ended
Dec. 31, 2025
STOCKPILES AND ORE ON LEACH PADS  
STOCKPILES AND ORE ON LEACH PADS INVENTORIES
At December 31,
20252024
Materials and supplies$1,060 $1,081 
In-process199 118 
Concentrate162 148 
Precious metals91 76 
Inventories (1)
$1,512 $1,423 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, the related assets, including Inventories of $185, were reclassified to Assets held for sale at December 31, 2024; no amounts related to Inventories were reclassified to Assets held for sale at December 31, 2025. Refer to Note 3 for additional information.
The Company recorded write-downs classified as components of Costs applicable to sales and Depreciation and amortization to reduce the carrying value of inventories to net realizable value as follows:
Year Ended December 31,
2025 (1)
2024 (2)
2023 (3)
Costs applicable to sales$2 $44 $37 
Depreciation and amortization1 5 15 
$3 $49 $52 
____________________________
(1)For the year ended December 31, 2025, write-downs were not material.
(2)For the year ended December 31, 2024, write-downs primarily related to Telfer and Cerro Negro.
(3)For the year ended December 31, 2023, write-downs primarily related to Peñasquito.
STOCKPILES AND ORE ON LEACH PADS
At December 31, 2025
At December 31, 2024 (1)
StockpilesOre on Leach PadsTotalStockpilesOre on Leach PadsTotal
Current$893 $284 $1,177 $624 $137 $761 
Non-current2,284 126 2,410 2,072 194 2,266 
Total$3,177 $410 $3,587 $2,696 $331 $3,027 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, the related assets, including Stockpiles and ore on leach pads of $374, were reclassified to Assets held for sale at December 31, 2024; no amounts related to Stockpiles and ore on leach pads were reclassified to Assets held for sale at December 31, 2025. Refer to Note 3 for additional information.
The Company recorded write-downs classified as components of Costs applicable to sales and Depreciation and amortization to reduce the carrying value of stockpiles and ore on leach pads to net realizable value as follows:
Year Ended December 31,
2025 (1)
2024 (2)
2023 (3)
Costs applicable to sales$25 $48 $60 
Depreciation and amortization10 16 15 
$35 $64 $75 
____________________________
(1)For the year ended December 31, 2025, write-downs primarily related to NGM.
(2)For the year ended December 31, 2024, write-downs primarily related to Red Chris and NGM.
(3)For the year ended December 31, 2023, write-downs primarily related to NGM.
v3.25.4
PROPERTY, PLANT AND MINE DEVELOPMENT
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND MINE DEVELOPMENT PROPERTY, PLANT AND MINE DEVELOPMENT
Depreciable Life
(in years)		At December 31, 2025
At December 31, 2024
CostAccumulated
Depreciation
Net Book
Value
CostAccumulated
Depreciation
Net Book
Value (1)
Land $297 $— $297 $253 $— $253 
Facilities and equipment (2)
1-32
24,337 (12,424)11,913 23,362 (11,761)11,601 
Mine development 
1-32
7,329 (3,440)3,889 6,562 (3,533)3,029 
Mineral interests 
1-32
16,997 (4,363)12,634 17,050 (3,569)13,481 
Construction-in-progress 4,577 — 4,577 5,183 — 5,183 
$53,537 $(20,227)$33,310 $52,410 $(18,863)$33,547 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, the related assets, including Property, plant and mine development, net of $4,439, were reclassified to Assets held for sale at December 31, 2024; no amounts related to Property, plant and mine development, net were reclassified to Assets held for sale at December 31, 2025. Refer to Note 3 for additional information.
(2)At December 31, 2025 and 2024, Facilities and equipment includes finance lease right of use assets of $432 and $482, respectively.
Depreciable Life
(in years)		At December 31, 2025At December 31, 2024
Mineral InterestsCostAccumulated
Depreciation		Net Book
Value		CostAccumulated
Depreciation
Net Book
Value (1)
Production stage 
1-32
$12,343 $(4,363)$7,980 $12,191 $(3,569)$8,622 
Development stage 
(2)
1,329 — 1,329 1,386 — 1,386 
Exploration stage 
(2)
3,325 — 3,325 3,473 — 3,473 
$16,997 $(4,363)$12,634 $17,050 $(3,569)$13,481 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, the related assets, including $1,885 of mineral interests included in Property, plant and mine development, net, were reclassified to Assets held for sale. No amounts related to Property, plant and mine development, net were reclassified to Assets held for sale at December 31, 2025. Refer to Note 3 for additional information.
(2)These amounts are currently non-depreciable as these mineral interests have not reached production stage.
v3.25.4
GOODWILL
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL GOODWILL
Changes in the carrying amount of goodwill by reportable segment were as follows:
Balance at December 31, 2023
Acquisitions (1)
Balance at December 31, 2024
Balance at December 31, 2025
Lihir$695 $249 $944 $944 
Cadia565 (316)249 249 
Red Chris397 142 539 539 
Brucejack1,087 (418)669 669 
NGM257 — 257 257 
$3,001 $(343)$2,658 $2,658 
____________________________
(1)Amounts relate to goodwill recognized through the Newcrest transaction on November 6, 2023. During 2024, goodwill was subject to measurement period adjustments to the purchase price allocation. Refer to Note 3 for further information.
v3.25.4
DEBT
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
DEBT DEBT
At December 31, 2025 (1)
At December 31, 2024 (1)
Non-Current
Fair Value (2)
CurrentNon-Current
Fair Value (2)
5.30% Senior Notes due March 2026
$— $— $924 $— $948 
2.80% Senior Notes due October 2029
265 257 — 633 587 
3.25% Senior Notes due May 2030
379 411 — 554 583 
2.25% Senior Notes due October 2030
246 230 — 872 765 
2.60% Senior Notes due July 2032
785 728 — 821 713 
5.35% Senior Notes due March 2034
987 1,061 — 987 1,012 
5.875% Senior Notes due April 2035
502 567 — 581 625 
6.25% Senior Notes due October 2039
275 308 — 861 934 
5.75% Senior Notes due November 2041
292 326 — 457 500 
4.875% Senior Notes due March 2042
562 553 — 949 891 
5.45% Senior Notes due June 2044
460 433 — 479 435 
4.20% Senior Notes due May 2050
365 409 — 363 407 
Debt issuance costs on Corporate Revolving Credit Facilities(3)— — (5)— 
$5,115 $5,283 $924 $7,552 $8,400 
____________________________
(1)All outstanding senior notes are unsecured and rank equally with one another.
(2)The estimated fair value of the senior notes was determined by an independent third-party pricing source and may or may not reflect the actual trading value of this debt.
Maturities for the next five years, and thereafter, are as follows:
Year Ending December 31,
2026$— 
2027— 
2028— 
2029267 
2030671 
Thereafter4,405 
Total face value of debt5,343 
Unamortized premiums, discounts, and issuance costs(228)
Debt$5,115 
Corporate Revolving Credit Facilities and Letters of Credit Facilities
In connection with the Newcrest transaction on November 6, 2023, the Company assumed bilateral bank debt facilities totaling $2,000, of which $1,923 was outstanding at December 31, 2023. In February 2024, the Company repaid the full amount outstanding and terminated the facilities.
On February 15, 2024, the Company amended and restated its $3,000 revolving credit agreement dated as of April 4, 2019 (the “Existing Credit Agreement”) to $4,000 and extended the maturity date from March 30, 2026 to February 15, 2029. The amended facility was entered into with a syndicate of financial institutions and provides for borrowings in U.S. dollars and contains a letter of credit sub-facility.
Interest is based on Term SOFR plus a credit spread adjustment and margin. 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 and the letter of credit sub-facility on the Existing Credit Agreement was retained.
On February 20, 2024, the Company drew $1,461 on the amended facility and used the proceeds, along with existing cash balances, to repay the bilateral bank debt facilities. In March 2024, the Company repaid the full amount drawn on the amended facility as described below under 2026 and 2034 Senior Notes. As a result, the Company had no borrowings outstanding under the amended facility at December 31, 2025 and 2024. There were also no amounts outstanding on the letters of credit sub-facility at December 31, 2025 and 2024.
At December 31, 2025 and 2024 the Company had letters of credit outstanding in the amounts of $1,139 and $1,034, respectively, of which $1,005 and $900 represented guarantees for reclamation obligations, respectively. None of these letters of credit have been drawn on for reclamation obligations as of December 31, 2025 and 2024.
2026 and 2034 Senior Notes
On March 7, 2024, the Company issued $2,000 unsecured Senior Notes comprised of $1,000 due March 15, 2026 (“2026 Senior Notes”) and $1,000 due March 15, 2034 ("2034 Senior Notes"). Net proceeds from the 2026 and 2034 Senior Notes were $1,980. Interest will be paid semi-annually at a rate of 5.30% and 5.35% per annum for the 2026 and the 2034 Senior Notes, respectively. The proceeds from this issuance were used to repay the drawdown on the revolving credit facility. The 2026 Senior Notes were fully redeemed in the first quarter of 2025; see below for further information.
Debt Extinguishments
For the year ended December 31, 2025, the Company redeemed senior notes through full and partial redemptions, totaling $3,448 and $51 in principal and accrued interest, respectively. These transactions resulted in a total loss on extinguishment for the year ended December 31, 2025 of $101, recognized in Other income (loss), net, including the acceleration of $54 loss from Accumulated other comprehensive income (loss) related to previously terminated interest rate cash flow hedges.
For the year ended December 31, 2024, the Company redeemed senior notes through partial redemptions, totaling $483 and $4 in principal and accrued interest, respectively. These transactions resulted in a total gain on extinguishment for the year ended December 31, 2024 of $32, recognized in Other income (loss), net, including the acceleration of $6 loss from Accumulated other comprehensive income (loss) related to previously terminated interest rate cash flow hedges.
The following table summarizes the redemptions by senior note:
Year Ended December 31,
2025
2024 (1)
Settled Principal AmountTotal Repurchase AmountSettled Principal AmountTotal Repurchase Amount
5.30% Senior Notes due March 2026 (2)
$928 $957 $72 $74 
2.80% Senior Notes due October 2029
371 357 62 58 
3.25% Senior Notes due May 2030
210 202 17 16 
2.25% Senior Notes due October 2030
631 583 120 107 
2.60% Senior Notes due July 2032
38 32 174 150 
5.35% Senior Noted due March 2034
1 1 — — 
5.875% Senior Notes due April 2035
83 87 — — 
6.25% Senior Notes due October 2039
595 666 — — 
5.75% Senior Notes due November 2041
182 192 — — 
4.875% Senior Notes due March 2042
392 384 38 36 
5.45% Senior Notes due June 2044
17 17 — — 
$3,448 $3,478 $483 $441 
____________________________
(1)Excludes activity related to the bilateral bank debt facilities and the revolving credit facility.
(2)The repurchase amount of the 2026 Senior Notes during 2025 included a make-whole provision of $10.
Debt Covenants
The Company’s senior notes and revolving credit facility contain various covenants and default provisions including payment defaults, limitations on liens, leases, sales and leaseback agreements, merger restrictions, 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. Additionally, 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%. At December 31, 2025, the Company was in compliance with all existing debt covenants.
v3.25.4
LEASE AND OTHER FINANCING OBLIGATIONS
 12 Months Ended
Dec. 31, 2025
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, mining equipment, power generation, and transportation. These leases have a remaining lease term of less than 1 year to 32 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. Some of the Company's 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,
20252024
Operating lease cost$26 $27 
Finance lease cost:
Amortization of ROU assets93 91 
Interest on lease liabilities30 35 
123 126 
Variable lease cost302 509 
Short-term lease cost84 76 
$535 $738 
Supplemental cash flow information related to leases includes the following:
Year Ended December 31,
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows relating to operating leases$24 $20 
Operating cash flows relating to finance leases$30 $34 
Financing cash flows relating to finance leases$95 $87 
Non-cash lease obligations arising from obtaining ROU assets:
Operating leases$45 $10 
Finance leases$54 $59 
Information related to lease terms and discount rates is as follows:
Operating LeasesFinance Leases
Weighted average remaining lease term (years)68
Weighted average discount rate4.39 %6.16 %
Future minimum lease payments under non-cancellable leases as of December 31, 2025, were as follows:
Operating
Leases (1)
Finance Leases
2026$33 $119 
202721 88 
202815 78 
202915 53 
203013 45 
Thereafter26 225 
Total future minimum lease payments123 608 
Less: Imputed interest(14)(134)
Total$109 $474 
____________________________
(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.
As of December 31, 2025, the Company has no additional leases that have not yet commenced.
v3.25.4
OTHER LIABILITIES
 12 Months Ended
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]  
OTHER LIABILITIES OTHER LIABILITIES
At December 31,
20252024
Other current liabilities:
Reclamation and remediation liabilities$893 $991 
Accrued operating costs (1)
421 468 
Greatland Option (2)
339 — 
Accrued capital expenditures254 208 
Payables to NGM (3)
227 115 
Accrued royalties181 165 
Silver streaming agreement93 76 
Accrued interest57 97 
Hedging instruments (Note 14)
1 136 
Other (4)
226 225 
$2,692 $2,481 
Other non-current liabilities:
Income and mining taxes (5)
$133 $125 
Indemnification liabilities63 17 
Other (6)
126 146 
$322 $288 
____________________________
(1)In the first quarter of 2025, the Company paid $116 to the Worsley JV related to the waiver of certain rights within the cross-operation agreement that confers priority to the bauxite operations at the Boddington mine. This payment is included in other investing activities in the Consolidated Statement of Cash Flows.
(2)The Greatland Option was acquired through the sale of Telfer in the fourth quarter of 2024 and accounted for under the fair value option with changes in the fair value recognized through earnings each reporting period in Change in fair value of investments and options. The option was included in Other non-current liabilities at December 31, 2024 for $51. In January 2026, the option was exercised resulting in extinguishment. Refer to Note 3 for further information.
(3)Payables to NGM at December 31, 2025 and December 31, 2024 consist of amounts due to NGM representing Barrick's 61.5% proportionate share of the amount owed to NGM for gold and silver purchased by Newmont. Newmont’s 38.5% share of such amounts is eliminated upon proportionate consolidation of its interest in NGM. Receivables for Newmont's 38.5% proportionate share related to NGM's activities with Barrick are presented within Other current assets.
(4)Primarily consists of the taxes other than income and mining taxes and current portion of operating lease liabilities.
(5)Primarily consists of unrecognized tax benefits, including penalties and interest.
(6)Primarily consists of the non-current portion of operating lease liabilities.
v3.25.4
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​
 12 Months Ended
Dec. 31, 2025
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​ ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized Gain (Loss) on Hedge InstrumentsOther AdjustmentsTotal
Balance at December 31, 2023$(70)$84 $14 
Net current-period other comprehensive income (loss):
(Loss) gain in other comprehensive income (loss) before reclassifications(140)13 (127)
Loss (gain) reclassified from accumulated other comprehensive income (loss)17 1 18 
Other comprehensive income (loss)(123)14 (109)
Balance at December 31, 2024(193)98 (95)
Net current-period other comprehensive income (loss):
Gain (loss) in other comprehensive income (loss) before reclassifications140 (9)131 
Loss (gain) reclassified from accumulated other comprehensive income (loss)94 7 101 
Other comprehensive income (loss)234 (2)232 
Balance at December 31, 2025$41 $96 $137 
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,
202520242023
Hedge instruments adjustments:
Interest rate contracts (1)
$72 $10 $5 
Interest expense, net of capitalized interest
Foreign currency cash flow hedges44 7 19 Costs applicable to sales
Amortization10 5 — Costs applicable to sales
Total before tax126 22 24 
Tax(32)(5)(6)
Net of tax94 17 18 
Other adjustments:
Amortization, Settlements, and Curtailments (2)
11 — — 
Other income (loss), net
Divestitures (3)
(3)— — 
(Gain) loss on sale of assets held for sale
Other— 1 — 
Other income (loss), net
Total before tax8 1 — 
Tax(1)— — 
Net of tax7 1 — 
Total reclassifications for the period, net of tax$101 $18 $18 
____________________________
(1)For the year ended December 31, 2025, includes acceleration of losses related to previously terminated interest rate cash flow hedges resulting from the extinguishment of certain senior notes. The acceleration of loss was recognized in Other income (loss), net. Refer to Note 20 for further information.
(2)Relates to pension and other post-retirement benefits. Refer to Note 11 for more information.
(3)The Company divested the defined benefit pension plan at Porcupine as a result of the divestment on February 28, 2025. As a result, the related amounts held in Accumulated other comprehensive income (loss) were reclassified to (Gain) loss on sale of assets held for sale.
v3.25.4
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2025
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 the non-operating segment Corporate and Other. The Yanacocha matters relate to the Yanacocha reportable segment. The Cadia matter relates to the Cadia reportable segment. The CC&V matter relates to CC&V, which was divested in the first quarter of 2025. The Newmont Ghana Gold and Newmont Golden Ridge matters relate to the Ahafo South reportable segment and Akyem, which was divested in the second quarter of 2025, respectively.
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. - 100% Newmont Owned
In early 2015 and again in June 2017, the Peruvian government agency responsible for certain environmental regulations, 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 MINEM. In May 2022, Yanacocha submitted a proposed modification to this plan requesting an extension of time for coming into full compliance with the new regulations to 2027. In June 2023, Yanacocha received approval of its updated compliance plan from MINEM and was granted an extension to June 2026 to achieve compliance. The Company appealed this approval to the Mining Council requesting the regulatory extension until 2027, and in April 2024, MINEM approved the compliance schedule.
The Company currently operates five water treatment plants at Yanacocha that have been and currently meet all applicable water discharge requirements. The Company’s current asset retirement obligation includes the cost of the construction of two new water treatment plants expected to be in operation during 2027 and cost associated with post-closure management.
The Company is conducting detailed studies to better estimate water management and other closure activities that will ensure water quality and quantity discharge meet 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, continue to evaluate and revise assumptions and estimated costs of changes to the reclamation plan. The ultimate water treatment costs remain uncertain as studies and opportunity assessments continue. These and other additional risks and contingencies that are the subject of ongoing studies, including, but not limited to, a comprehensive review of the Company's tailings storage facility management, review of Yanacocha’s water balance and water management system, and review of post-closure management costs, could result in future material increases to the reclamation obligation at Yanacocha.
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 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 2016, Newmont completed the remedial design process, with the exception of the new WTP design which was awaiting the approval of the new NPDES permit. Subsequently, the new NPDES permit was received in 2017 and the WTP design commenced in 2018. The EPA approved the WTP design in 2021. Construction of the effluent pipeline began in 2021, and construction of the new WTP began in 2022. The WTP and effluent pipeline are expected to be operating in 2026.
The Dawn mill site is regulated by the Washington Department of Health (the "WDOH") and is in the process of being closed in accordance with the federal Uranium Mill Tailings Radiation Control Act, and associated Washington state regulations. 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 activities consist primarily of finalizing an Alternative Concentration Limit application (the "ACL application") submitted in 2020 to the WDOH to address groundwater issues, and also evaporating the remaining balance of process water at the site. In the fourth quarter of 2022, the WDOH provided comments on the ACL application, which Newmont is evaluating and conducting studies to better understand and respond to the comments provided by the WDOH. These studies and the related comment process will extend beyond the current year and could result in future material increases to the remediation obligation.
The remediation liability for the Midnite mine site and Dawn mill site is approximately $164, assumed 100% by Newmont, at December 31, 2025.
Cadia Holdings Pty Ltd. - 100% Newmont Owned
Cadia Holdings Pty Ltd. (“Cadia Holdings”) is a wholly owned subsidiary of Newcrest, which was acquired by Newmont in November 2023. The mine site is subject to regulations by the New South Wales Environment Protection Authority (the “NSW EPA”). In October 2023, the NSW EPA commenced proceedings in the NSW Land and Environment Court against Cadia Holdings, alleging two contraventions related to alleged air pollution from tailings storage facilities on October 13 and 31, 2022. In 2024, Cadia Holdings entered a plea of not guilty to the charges related to the allegations. On December 19, 2025, the NSW EPA withdrew and discontinued these proceedings. Cadia Holdings and the NSW EPA entered into an enforceable undertaking where Cadia Holdings agreed to pay an amount less than $1 to the NSW Department of Climate Change, Energy, the Environment and Water ("NSW DCCEEW") to support the Rural Dust Monitoring Network managed by Climate and Atmospheric Science and the NSW DCCEEW. Cadia Holdings will also pay an amount less than $1 to the NSW EPA for the costs incurred by the NSW EPA in connection with the incidents and with respect to negotiating and entering into the enforceable undertaking.
Additionally, on February 2, 2026, a class action proceeding was commenced in the Supreme Court of New South Wales against Cadia Holdings. The proceeding has been brought on behalf of the named plaintiffs and other persons who fall within a defined class of persons who owned, leased, or occupied land located within a specified area surrounding the Cadia mine during the period from February 2, 2020 to February 3, 2026, and who allege that they have suffered loss or damage as a result of alleged injury to, or interference with, that land. The plaintiffs allege that such loss or damage arose from alleged contamination associated with Cadia Holdings, including alleged contamination of land, public waterways, groundwater, and/or air. The claims assert that the alleged impacts are attributable to dust and fluid emissions from Cadia Holdings’ operations. Plaintiffs seek unspecified monetary damages and other relief. Newmont intends to vigorously defend this matter but cannot reasonably predict the outcome.
Cripple Creek & Victor Gold Mining Company LLC - 100% Newmont Owned through February 28, 2025
On February 28, 2025, the Company completed the sale of the Cripple Creek & Victor Gold Mining Company LLC (“CC&V”) reportable segment to SSR. Under the terms of the agreement with SSR, Newmont expects to receive deferred cash contingent consideration upon certain regulatory approvals, including the resolution of regulatory applications relating to the Carlton Tunnel. In addition, upon completion of an updated regulator-approved closure plan and in the event aggregate closure costs at CC&V exceed $500, Newmont will be responsible for funding 90% of the incremental closure costs exceeding $500 in such updated closure plan, either on an as-incurred basis or pursuant to a net present value lump sum payment option.
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, primarily to focus on monitoring. The monitoring data accumulated since the mid-1970s have indicated consistency in the water quality discharged from the Carlton Tunnel over time. In 2006, legal proceedings and work with the regulator confirmed that the water flowing out of the Carlton Tunnel portal is akin to natural spring water and did not constitute mine drainage. However, when the Water Quality Control Division of the Colorado Department of Public Health and Environment (the “Division”) issued new discharge permits in January 2021, the Division imposed new water quality limits. A Settlement Agreement entered into by CC&V and the Division in December 2021 extended the timeframe for full permit compliance to November 2027, and CC&V expressly reserved the right to challenge the need for a discharge permit in the first place. In 2022, the Company studied various interim passive water treatment options, reported the study results to the Division, and based on an evaluation of additional semi-passive options that involve the usage of power at the portal, updated the remediation liability to $20 in 2022. CC&V continues to study alternative long-term remediation plans for water discharged from the Carlton Tunnel, while also continuing to work with regulators to identify and implement the highest feasible alternative treatments. In June 2025, the Water Quality Control Commission agreed to site specific standards for CC&V and a Discharger Specific Variance ("DSV") for certain water quality standards. In January 2026, the Division issued a modification to CC&V's discharge permit to implement site specific standards for certain water quality standards, and a DSV and compliance extension for certain other standards. Depending on the plans that may ultimately be agreed with regulators, a material adjustment to the remediation liability may be required.
Other Legal Matters
Newmont Corporation, as well as Newmont Canada Corporation, and Newmont Canada FN Holdings ULC – 100% Newmont Owned
Kirkland Lake Gold Inc., which was acquired by Agnico Eagle Mines Limited in 2022 (still referred to herein as “Kirkland” for ease of reference), 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 (collectively "Newmont"), and certain Kirkland defendants (collectively "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. Kirkland filed a motion seeking dismissal of the case against it, which the court granted in October 2022. Newmont submitted its statement of defense on February 27, 2023, and a motion for summary judgment on January 12, 2024. The motion for summary judgment was denied on May 27, 2024, and the parties are now engaged in the discovery phase of the case. Newmont intends to vigorously defend this matter but cannot reasonably predict the outcome.
Newmont Ghana Gold Limited - 100% Newmont Owned (and Newmont Golden Ridge Limited owned by Newmont through April 15, 2025)
On December 24, 2018, two individual plaintiffs, who were 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”), now Zijin Golden Ridge Limited ("ZGRL"), 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, 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 mining leases were both ratified by Parliament; the NGGL June 13, 2001 mining lease, ratified by Parliament on October 21, 2008, and the renewed NGRL September 4, 2024 mining lease, ratified by Parliament on July 24, 2025. The writ alleges that any mineral exploitation prior to Parliamentary 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 Parliamentary 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 unratified mining leases, undertakings or contracts to Parliament for ratification. Newmont intends to vigorously defend this matter but cannot reasonably predict the outcome. On April 15, 2025, the Company completed the sale of the Akyem reportable segment, including NGRL. In the case of an adverse final judgment against NGRL pursuant to a non-appealable governmental order, if any, the Company would be required to indemnify the buyer for certain fines, penalties and disgorgements attributable to the period from the date of the Company’s commencement of commercial production under the mining leases in October 2013 to the date on which the mining leases were ratified by Parliament on December 3, 2015.
Newmont Capital Limited and Newmont Canada FN Holdings ULC – 100% Newmont Owned
The ATO is conducting a limited review of the Company’s prior 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 is vigorously defending 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. The court proceedings were held during the third quarter of 2024 and on November 10, 2025, the Company received the judgment. A number of matters were decided, however, no final orders were made and an independent referee was appointed to complete the remaining valuation tasks assigned by the Court. The final orders are expected to be received in the second quarter of 2026. The Company cannot reasonably predict the outcome.
Newmont Corporation
Karas v. Newmont Corp., et al. On January 31, 2025, a putative class action lawsuit was filed against Newmont and Newmont’s, at the time, Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer in the United States District Court for the District of Colorado. The action was brought on behalf of an alleged class of Newmont stockholders who owned stock between February 22, 2024 and October 23, 2024 (the alleged class period). The Court appointed Lead Plaintiffs on May 6, 2025 who filed an amended complaint on July 14, 2025 adding Newmont's Chief Development Officer as a defendant and shortening the alleged class period to July 24, 2024 through October 23, 2024. Plaintiffs allege that the defendants made a series of materially false and misleading statements and/or omissions during the alleged class period regarding the Company’s operations, production, and costs in violation of federal securities laws. Plaintiffs further allege that the purported class members suffered losses and damages resulting from declines in the market value of Newmont’s common stock after the Company announced its third quarter 2024 results and updated guidance on October 23, 2024. Plaintiffs seek unspecified monetary damages and other relief. Defendants filed a motion to dismiss the amended complaint on September 12, 2025. Plaintiffs filed an opposition to that motion on November 4, 2025 and defendants filed a reply brief on December 4, 2025. On November 4, 2025, plaintiffs also filed a motion to strike or to convert defendants' motion to dismiss to a motion for summary judgment and for full discovery. Defendants filed an opposition to that motion on November 12, 2025 and plaintiffs filed a reply brief on November 26, 2025.
Gunderson v. Palmer et al.; Levin v. Palmer et al.; Chin v. Palmer et al.; and Harris v. Palmer et al. On February 21, February 28, March 20, and April 4, 2025, respectively, purported Newmont stockholders filed putative derivative complaints nominally on behalf of Newmont against Newmont’s, at the time, Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, and members of Newmont’s Board of Directors, naming Newmont as a nominal defendant, in the United States District Court for the District of Colorado. While the allegations and asserted claims vary among the actions, the complaints, taken collectively, generally raise similar allegations as the complaint in Karas. The complaints allege, among other things, that: the defendants made a series of materially false and misleading statements and/or omissions beginning on February 22, 2024 regarding the Company's operations, production, and costs; the Company lacked adequate internal controls and oversight over risk management; the defendants made materially false and misleading statements in the Company’s 2024 proxy statement, and there were improper share repurchases by the Company and stock
sales by the Company’s Chief Executive Officer during the period February 22, 2024 to October 23, 2024; and assert claims under federal securities law (other than in the Chin case) and Delaware state law. Plaintiffs seek unspecified monetary damages, restitution, disgorgement and other relief, including reforms to the Company’s corporate governance. On March 19, 2025, on motion from plaintiffs in Gunderson and Levin, the court consolidated Levin into Gunderson, and appointed lead plaintiffs in the consolidated case. On May 1, 2025, on motion from plaintiffs in Gunderson, Levin, Chin, and Harris, the court consolidated Chin and Harris into Gunderson. On May 7, 2025, upon joint motion from the parties in Gunderson, the court stayed the consolidated action pending the resolutions of all motions to dismiss the operative complaint in Karas.
Willis v. Palmer et al. On May 9, 2025, a purported Newmont stockholder filed a putative derivative complaint nominally on behalf of Newmont against Newmont’s, at the time, Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, and members of Newmont’s Board of Directors, naming Newmont as a nominal defendant, in the United States District Court for the District of Delaware. The complaint generally raises similar allegations and requests similar relief as the complaints in the District of Colorado consolidated derivative actions, described above. On May 28, 2025, upon stipulation and agreement by the parties, the court stayed the action pending the resolution of all motions to dismiss the operative complaint in Karas.
Newmont intends to vigorously defend these matters, but cannot reasonably predict the outcome of any matter.
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, 2025 and 2024, there were $1,943 and $2,086, 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 the Company's 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 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 study which is currently under way and feasibility study which has not yet occurred.
v3.25.4
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
 12 Months Ended
Dec. 31, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS
(dollars in millions except per share)
Year Ended December 31,
202520242023
Deferred Income Tax Valuation Allowance
Balance at beginning of year$4,363 $4,652 $3,994 
Additions due to acquisition of Newcrest— 168 300 
Additions to deferred income tax expense498 80 565 
Reduction of deferred income tax expense(203)(382)(207)
Additions and reductions reflected in other components of the financial statements124 (155)— 
Balance at end of year$4,782 $4,363 $4,652 
Refer to Note 10 to the Consolidated Financial Statements for additional information.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Tom Palmer [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement On October 30, 2025, Tom Palmer, Chief Executive Officer and Director, adopted a 10b5-1 Trading Plan with a term of 12 months, and provided for the sale of up to 240,000 shares of common stock pursuant to the terms of the plan. The adoption of such 10b5-1 Trading Plan occurred during an open insider trading window and complied with the Company’s standards on insider trading. Mr. Palmer retired on December 31, 2025 and is no longer a Section 16 officer.
Name Tom Palmer
Title Chief Executive Officer and Director
Rule 10b5-1 Arrangement Adopted true
Adoption Date October 30, 2025
Arrangement Duration 12 months
Aggregate Available 240,000,000,000
Peter Wexler [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On December 1, 2025, Peter Wexler, Executive Vice President, Chief Legal Officer and Interim Chief Financial Officer, adopted a 10b5-1 Trading Plan with a term of 9 months, and provided for the sale of up to 13,378 shares of common stock pursuant to the terms of the plan. The adoption of such 10b5-1 Trading Plan occurred during an open insider trading window and complied with the Company’s standards on insider trading.
Name Peter Wexler
Title Executive Vice President, Chief Legal Officer and Interim Chief Financial Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date December 1, 2025
Arrangement Duration 9 months
Aggregate Available 13,378
Peter Toth [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On December 17, 2025, Peter Toth, Executive Vice President, Chief Sustainability and Development Officer, adopted a 10b5-1 Trading Plan with a term of 12 months, and provided for the sale of up to 36,000 shares of common stock pursuant to the terms of the plan. The adoption of such 10b5-1 Trading Plan occurred during an open insider trading window and complied with the Company’s standards on insider trading.
Name Peter Toth
Title Executive Vice President, Chief Sustainability and Development Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date December 17, 2025
Arrangement Duration 12 months
Aggregate Available 36,000
Mark Rodgers [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement On November 24, 2025, Mark Rodgers, Managing Director, Africa-Asia Pacific, adopted a 10b5-1 Trading Plan with a term of approximately 4 months, and provided for the sale of up to 38,845 shares of common stock pursuant to the terms of the plan. The adoption of such 10b5-1 Trading Plan occurred during an open insider trading window and complied with the Company’s standards on insider trading. Mr. Rogers was not a Section 16 officer at the time of execution of the listed 10b5-1 plan and was subsequently designated a Section 16 officer effective as of January 1, 2026.
Name Mark Rodgers
Title Managing Director, Africa-Asia Pacific
Rule 10b5-1 Arrangement Adopted true
Adoption Date November 24, 2025
Arrangement Duration 4 months
Aggregate Available 38,845
David Thornton [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On December 1, 2025, David Thornton, Managing Director, Americas, adopted a 10b5-1 Trading Plan with a term of 9 months, and provided for the sale of up to 43,964 shares of common stock pursuant to the terms of the plan. The adoption of such 10b5-1 Trading Plan occurred during an open insider trading window and complied with the Company’s standards on insider trading. Mr. Thornton was not a Section 16 officer at the time of execution of the listed 10b5-1 plan and was subsequently designated a Section 16 officer effective as of January 1, 2026.
Name David Thornton
Title Managing Director, Americas
Rule 10b5-1 Arrangement Adopted true
Adoption Date December 1, 2025
Arrangement Duration 9 months
Aggregate Available 43,964
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We rely upon technology and information systems to support our mining and business operations globally. These systems may be susceptible to cybersecurity risks including, but not limited to, external attackers, malware, viruses, and unauthorized access to our IT systems. Cybersecurity and the secure adoption of emerging technologies, including artificial intelligence ("AI"), remain strategic priorities for Newmont. In November 2025, we implemented an enterprise-wide Artificial Intelligence Standard that governs AI adoption and use, model lifecycle management, and associated cybersecurity and privacy controls. We continuously invest in developing our cybersecurity controls and processes to address these threats and reduce the risk of future breaches and cyber attacks. Our processes to assess, identify, and manage cybersecurity risk are integrated with our global Risk Management System ("RMS") and include periodic
enterprise-wide cyber risk assessments, continuous control monitoring, scenario-based exercises, and site-level reviews of our operational technology environments. Our Board of Directors and management team oversee these risks ensuring alignment with our business objectives and regulatory obligations.
Foundationally, we seek to manage cyber risk through a structure of controls that includes cybersecurity standards, policies and cyber solutions that protect the availability, integrity, and confidentiality of our critical IT and mining systems. We monitor for emergent cyber threats and assess any actions required to reduce those risks. Our cybersecurity program is aligned to globally recognized security frameworks including the Mitre Att&ck Framework, NIST and ISO27001. We previously maintained ISO27001 certification; while we are no longer certified, we continue to align our cybersecurity program to ISO27001 principles and conduct periodic independent assessments of our controls. We further test our cybersecurity controls by engaging leading third-party cybersecurity service providers to perform external and internal penetration tests of critical business applications and mining system. Additionally, we review and tabletop test our incident response plan. We leverage continuous monitoring of our internet facing presence, as well as, known internet based criminal communities for indicators referencing Newmont, our executives, and employees. Our Security Operations Center ("SOC") continuously monitors for security events and threats, responding and escalating when appropriate. We also hold employee trainings on privacy and current cybersecurity topics, conduct phishing tests and generally seek to promote awareness of cybersecurity risk through communication and education of our employee population.
Newmont requires third parties that supply IT services, have access to Newmont systems, or manage Newmont data to adhere to established Newmont security policies. Additionally, Newmont requires such third parties to provide detailed information on their established security controls via our third party risk assessment process. The third party risk assessment informs our contracting process. Specific certification may be required of critical third party IT service providers and partners. All third party workers are bound by our Acceptable Technology Use standard which governs appropriate IT systems access and usage.
Our operations rely on the secure processing, storage and transmission of confidential and other information in our computer systems and networks. Computer viruses, hackers, employee or vendor misconduct, and other external hazards could expose our information systems, and those of our vendors, to security breaches, cybersecurity incidents or other disruptions, any of which could materially and adversely affect our business. Cybersecurity incidents may also cause disruption to mining operations; critical financial or reporting systems impairment; breach or integrity loss of Newmont proprietary or confidential data; or external reputational damage.
The sophistication of cybersecurity threats, including through the use of AI, continues to increase, and the controls and preventative actions we take to reduce the risk of cybersecurity incidents and protect our systems, including the regular testing of our cybersecurity incident response plan, may become insufficient. We evaluate the effectiveness of our controls through continuous monitoring, testing, and lessons-leaned reviews following incidents and exercises, and adapt our program accordingly. In addition, new technology that could result in greater operational efficiency such as our use of AI, fleet electrification, and autonomous vehicles may further expose our operations and computer systems to the risk of cybersecurity incidents. Newmont did not identify any cybersecurity incidents during the year ended December 31, 2025 that have materially affected or are reasonably likely to materially affect Newmont's business strategy, results of operations, or financial condition.
Additional information about cybersecurity risks we face is discussed in Item 1A, Risk Factors of this report under the heading "We are dependent upon information technology and operational technology systems, which are subject to disruption, damage, failure or cybersecurity attacks and risks associated with implementation, upgrade, operation and integration" which should be read in conjunction with the information above.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
We rely upon technology and information systems to support our mining and business operations globally. These systems may be susceptible to cybersecurity risks including, but not limited to, external attackers, malware, viruses, and unauthorized access to our IT systems. Cybersecurity and the secure adoption of emerging technologies, including artificial intelligence ("AI"), remain strategic priorities for Newmont. In November 2025, we implemented an enterprise-wide Artificial Intelligence Standard that governs AI adoption and use, model lifecycle management, and associated cybersecurity and privacy controls. We continuously invest in developing our cybersecurity controls and processes to address these threats and reduce the risk of future breaches and cyber attacks. Our processes to assess, identify, and manage cybersecurity risk are integrated with our global Risk Management System ("RMS") and include periodic
enterprise-wide cyber risk assessments, continuous control monitoring, scenario-based exercises, and site-level reviews of our operational technology environments. Our Board of Directors and management team oversee these risks ensuring alignment with our business objectives and regulatory obligations.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
As part of our overall risk management approach, we prioritize the identification and management of cybersecurity risk at several levels, including Board oversight, executive commitment and employee training. Our Audit Committee, comprised of independent directors from our Board, oversees the responsibilities relating to the operational (including information technology ("IT") risks and data security) risk affairs of the Company. Our Audit Committee is informed of such risks through quarterly reports from our cybersecurity leadership and it reports any material findings and recommendations to the full Board for consideration.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
As part of our overall risk management approach, we prioritize the identification and management of cybersecurity risk at several levels, including Board oversight, executive commitment and employee training. Our Audit Committee, comprised of independent directors from our Board, oversees the responsibilities relating to the operational (including information technology ("IT") risks and data security) risk affairs of the Company. Our Audit Committee is informed of such risks through quarterly reports from our cybersecurity leadership and it reports any material findings and recommendations to the full Board for consideration.
Our Cybersecurity team, comprised of seasoned IT and cybersecurity members, has decades of experience across multiple technical and compliance disciplines including cyber incident response, forensics, IT compliance, incident recovery, threat investigation and information technology. Our cybersecurity team includes several individuals who hold industry recognized certifications and advanced degrees in cybersecurity. Cybersecurity oversees the implementation and compliance of our information security standards, information technology compliance, and mitigation of information security related risks. The Chief Technology Officer and Chief Information Officer have direct oversight of the cybersecurity function. We also have management level committees, leaders, and a cybersecurity incident team who support our processes to assess and manage cybersecurity risk
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Our Audit Committee is informed of such risks through quarterly reports from our cybersecurity leadership and it reports any material findings and recommendations to the full Board for consideration.
Cybersecurity Risk Role of Management [Text Block]
Our Cybersecurity team, comprised of seasoned IT and cybersecurity members, has decades of experience across multiple technical and compliance disciplines including cyber incident response, forensics, IT compliance, incident recovery, threat investigation and information technology. Our cybersecurity team includes several individuals who hold industry recognized certifications and advanced degrees in cybersecurity. Cybersecurity oversees the implementation and compliance of our information security standards, information technology compliance, and mitigation of information security related risks. The Chief Technology Officer and Chief Information Officer have direct oversight of the cybersecurity function. We also have management level committees, leaders, and a cybersecurity incident team who support our processes to assess and manage cybersecurity risk as follows:
•Working closely with the legal team, cybersecurity leadership drives the identification and mitigation of privacy-related risks across the enterprise. This collaborative approach engages legal, compliance, and other functional leaders as needed.
•The Cybersecurity Disclosure Steering Committee, comprised of leadership from IT, cybersecurity, operations, risk, finance, legal and compliance across business segments, contributes to the assessment of cybersecurity breach, planned response, and required disclosures and filings.
•The Rapid Response Team, which includes senior executives across the Company and its global operations, is alerted as appropriate to cybersecurity incidents, natural disasters and business outages. The Rapid Response Team performs tabletop exercises on a yearly basis with inclusion across functions.
Each of these committees provides summary reports on their activities, which are then communicated as appropriate to the Audit Committee.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our Cybersecurity team, comprised of seasoned IT and cybersecurity members, has decades of experience across multiple technical and compliance disciplines including cyber incident response, forensics, IT compliance, incident recovery, threat investigation and information technology. Our cybersecurity team includes several individuals who hold industry recognized certifications and advanced degrees in cybersecurity. Cybersecurity oversees the implementation and compliance of our information security standards, information technology compliance, and mitigation of information security related risks. The Chief Technology Officer and Chief Information Officer have direct oversight of the cybersecurity function. We also have management level committees, leaders, and a cybersecurity incident team who support our processes to assess and manage cybersecurity risk
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our Cybersecurity team, comprised of seasoned IT and cybersecurity members, has decades of experience across multiple technical and compliance disciplines including cyber incident response, forensics, IT compliance, incident recovery, threat investigation and information technology. Our cybersecurity team includes several individuals who hold industry recognized certifications and advanced degrees in cybersecurity.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Each of these committees provides summary reports on their activities, which are then communicated as appropriate to the Audit Committee.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2025
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.
The Company's global operations expose it to risks associated with public health crises, geopolitical and macroeconomic pressures, including but not limited to inflationary conditions, as well as the effects of certain countermeasures taken by central banks, supply chain disruptions resulting from global conflicts and other global events, and an uncertain and evolving labor market.
Factors that could have further potential short- and, possibly, long-term material adverse impacts on the Company include, but are not limited to, volatility in commodity prices and the prices for gold and other metals, changes in the equity and debt markets or country-specific factors adversely impacting discount rates, significant cost inflation impacts on production, capital and asset retirement costs, logistical challenges, workforce interruptions and financial market disruptions, energy market disruptions, as well as potential impacts to estimated costs and timing of projects.
The Company had previously extended the timeline of a full-funds decision for its Yanacocha Sulfides development project. The delay of the project was intended to focus funds on current operations and other capital commitments while management assessed execution and project options, up to and including transitioning the Yanacocha operations into full closure. During the year, the Company reassessed its strategy in Peru and is progressing mine closure activities while prioritizing other future development opportunities at Yanacocha ahead of any future re-evaluation of the Yanacocha Sulfides project, resulting in an indefinite deferral of the future development of this project and the impairment of the balances included in assets under construction and deferred mine development for the project. As of December 31, 2025, the Yanacocha operations have total long-lived assets of approximately $374, inclusive of $78 of assets under construction related to the estimated sales value of project equipment. Refer to Note 7 for additional information on this impairment charge.
The Company continues to hold the Conga project in Peru. While the Company continues to evaluate its strategy and global project pipeline potential, particularly in Peru, the Company does not currently anticipate developing Conga in the next ten years, while it remains a part of its long-term development project pipeline; consistent with prior years, the Conga project remained temporarily idled in care and maintenance during 2025. Should the Company be unable to develop the Conga project or conclude that future development is not in the best interest of the business, the Company may consider other alternatives for the project, which may result in a future impairment charge for the remaining assets. The total assets at Conga were $883 and $892 at December 31, 2025 and 2024.
The Company's global operations also expose it to foreign currency exchange rates which can increase or decrease profits to the extent costs are paid in foreign currencies, including the Papua New Guinean kina, Australian dollar, the Ghanaian cedi, the Surinamese dollar, the Argentine peso, the Peruvian sol, the Mexican peso, and the Canadian dollar.
The Cerro Negro mine is located in Argentina which is a hyperinflationary economy as of December 31, 2025. The Cerro Negro mine is a USD functional currency entity with the majority of the activity historically having been denominated in USD. As a result, the devaluation of the Argentine peso has resulted in an immaterial impact on the Company's financial statements. Therefore, future devaluation is not expected to have a material impact on the Company's financial statements. 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 USD 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. The Company continues 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.
Use of Estimates
Use of Estimates
The Company’s Consolidated Financial Statements have been prepared in accordance with 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; valuation of assets held for sale; 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 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.
Business Combination and Asset Acquisition Accounting
Business Combination and Asset Acquisition Accounting
The Company applies a screen test to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction should be accounted for as an asset acquisition or business combination.
When an acquisition does not meet the definition of a business combination because either: (i) substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset, or group of similar identified assets, or (ii) the acquired entity does not have an input and a substantive process that together significantly contribute to the ability to create outputs, the Company accounts for the acquisition as an asset acquisition. In an asset acquisition, goodwill is not recognized, but rather, any excess purchase consideration over the fair value of the net assets acquired is allocated on a relative fair value basis to the identifiable net assets as of the acquisition date and any direct acquisition-related transaction costs are capitalized as part of the purchase consideration.
When an acquisition is accounted for as a business combination, the Company recognizes and measures the assets acquired and liabilities assumed 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 in excess of the aggregate 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 discrete financial forecasts, long-term growth rates, appropriate discount rates, and expected future capital requirements. The market valuation method uses prices paid for a similar asset by other purchasers in the market, normalized for any differences between the assets. 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. During the measurement period, not to exceed one year from the date of acquisition, the Company may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill if new information is obtained related to facts and circumstances that existed as of the acquisition date. After the measurement period, any subsequent adjustments are reflected in the period the adjustment arises.
Assets Held for Sale
Assets Held for Sale
The Company classifies long-lived assets, or disposal groups comprising of assets and liabilities, as held for sale in the period in which the following six criteria are met, (i) management, having the authority to approve the action, commits to a plan to sell the property; (ii) the property is available for immediate sale in its present condition, subject only to terms that are usual and customary; (iii) an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; (iv) the sale of the property is probable and is expected to be completed within one year; (v) the property is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions necessary to complete the plan of sale indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.
The Company ceases depreciation and amortization on long-lived assets (or disposal groups) classified as held for sale, and measures them at the lower of carrying value or estimated fair value less cost to sell.
In determining the fair value of the assets less costs to sell, the Company considers factors including current sales prices for comparable assets, discounted cash flow projections, third party valuations and indicative offer information, if applicable. The Company’s assumptions about fair value require significant judgment because the current market is sensitive to changes in economic conditions, as well as asset-specific considerations. The fair value of assets held for sale is estimated based on the current market conditions and assumptions made by management, which may differ from actual results and could result in future impairments if market conditions deteriorate.
An impairment loss on the initial classification and subsequent measurement of an asset held for sale is recognized as an expense. Any subsequent increase in fair value less costs to sell (not exceeding the accumulated impairment loss that has been previously recognized) is recognized as a reversal of expense. Additional impairments may result as the Company continues to evaluate the fair value of assets held for sale and monitors market conditions and other economic factors.
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. Carrying values are evaluated at least quarterly, in accordance with the above.
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.
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 investments; proven and probable mineral reserves estimates, including the timing and cost to develop and produce the reserves; value beyond proven and probable mineral reserve estimates; estimated future closure costs; the use of appropriate discount rates; and applicable U.S. dollar long-term exchange 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 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
Time Deposits
Time deposits with an original maturity of more than three months but less than one year are included within Investments. These time deposits are carried at amortized cost. Accrued interest is recorded in Other income (loss), net.
Equity Method 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. The Company from time to time will elect the fair value option to account for its equity method investments if the fair value option better reflects the economics of its investment. Equity method investments accounted for under the fair value option are remeasured periodically with any changes in fair value recorded in Change in fair value of investments and options. Equity method investments are included in Investments and income (loss) from the Company's equity method investments is recognized in Equity income (loss) of affiliates.
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. 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.
Distributions received are assessed under the cumulative earnings approach to determine if the receipt 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. 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 Change in fair value of investments and options.
Marketable Equity, Debt, and Other Equity Securities
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 Change in fair value of investments and options. 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 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 Change in fair value of investments and options.
Derivative Instruments
Derivative Instruments
The Company holds derivatives for risk management purposes rather than for trading. The Company uses derivatives to mitigate uncertainty and volatility caused by underlying exposures to foreign exchange rates and energy prices. The fair values of all derivative instruments are recognized as assets or liabilities at the balance sheet date and are reported gross.
Financial instruments that meet the definition of a derivative, but are not designated for hedge accounting under ASC 815, are accounted for at fair value using derivative pricing models. Valuation models require a variety of inputs, including long term metal prices, life of mine production profiles, discount rates, and inflation assumptions. These instruments are subsequently remeasured to their fair value at each reporting date with the resulting gain or loss recognized in the Consolidated Statement of Operations.
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 and is presented in the same income statement line
item as the earnings effect of the hedged item, 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.
Debt
Debt
The Company carries its senior notes at amortized cost. Debt issuance costs and debt premiums and discounts, which are included in Debt, are amortized using the effective interest method over the terms of the respective Senior Notes as a component of Interest expense, net of capitalized interest within the Consolidated Statements of Operations.
Gain or loss on extinguishment of debt is recorded as a component of Other income (loss), net upon the extinguishment of a debt instrument and is calculated as the difference between the reacquisition price and net carrying amount of the debt, which includes unamortized debt issuance costs. The Company evaluates all changes to its debt arrangements to determine whether the changes represent a modification or extinguishment to the old debt arrangement. If a debt instrument is deemed to be modified, the Company capitalizes all new lender fees and expenses all third-party fees. If it is determined that an extinguishment of one of the Company's debt instruments has occurred, the unamortized financing fees associated with the extinguished instrument are expensed. For the revolving loans, all lender and third-party fees are capitalized, and in the event an amendment reduces the committed capacity under the revolving loans, the Company will expense a portion of any unamortized fees on a pro-rata basis in proportion to the decrease in the committed capacity.
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.
Common Stock, Treasury Stock
Common Stock
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.
Revenue Recognition
Revenue Recognition
Newmont generates revenue by selling gold, copper, silver, lead, and zinc 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 copper, silver, lead, and zinc. 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 Cadia, Boddington, and Red Chris. Aside from these co-product sales, copper and silver produced at other Newmont sites are by-product metals.
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 and 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, copper, silver, lead, and zinc 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 estimated costs can be reasonably measured. Fair value is measured as the present value of expected cash flow estimates, after considering inflation, the Company's credit-adjusted risk-free rates and a market risk premium appropriate for the Company's 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 operating and 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 the Company's 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.
Stock-Based Compensation
Stock-Based Compensation
The Company grants stock-based compensation awards to directors, executives and other eligible employees. Stock-based compensation awards currently issued and outstanding include RSUs, PSUs with a market-related condition, and PSUs with performance-related conditions. The market-related condition is based on the Company's total stockholder return relative to its peer group. The performance-related conditions include (i) representation of women on executive team, (ii) Scope 1 and 2 emission reductions related to key milestone projects, and (iii) return on capital employed.
The Company measures stock-based compensation awards at fair value on the date of the grant. The fair value of RSUs and PSUs with performance related conditions are based on the Newmont stock price on the date of grant. The fair value of PSUs with a market-related condition is determined using a Monte Carlo simulation model. Compensation expense related to all stock-based awards, including awards that cliff vest, is generally recognized on a straight-line basis over the requisite service period. For PSUs with performance-related conditions, the expense recognized may increase or decrease based on the probability that the performance conditions will be satisfied. 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 (loss) per share are presented for Net income (loss) attributable to Newmont stockholders. Basic income (loss) per common share is computed by dividing income (loss) available to Newmont common stockholders by the weighted average number of common shares outstanding during the period. Diluted income (loss) per common share is computed similarly except that weighted average common shares is increased to reflect all dilutive instruments, including employee stock awards. 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 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 Other expense, net 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 2025 presentation.
Recently Adopted and Recently Issued Accounting Pronouncements and Securities and Exchange Commission Rules
Recently Adopted Accounting Pronouncements and Securities and Exchange Commission Rules
Improvement to Income Tax Disclosures
In December 2023, ASU 2023-09 was issued, requiring disaggregated information about the effective tax rate reconciliation and additional information on taxes paid that meet a qualitative threshold. The Company adopted ASU 2023-09 for the year ended December 31, 2025 on a retrospective basis and included the required disclosures in Note 10. As this standard impacts presentation only, the adoption had no impact on the Company's financial position.
Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract
In September 2025, ASU 2025-07 was issued expanding the scope of contracts that are excluded from derivative accounting and clarifying the accounting for share-based noncash consideration in revenue contracts. The new guidance is effective for annual reporting periods beginning after December 15, 2026, with early adoption permitted. The Company early adopted ASU 2025-07 on a modified retrospective basis on December 31, 2025 and applied the derivative accounting amendment in this ASU to certain contingent consideration assets and liabilities; the share-based noncash consideration in revenue contracts amendment had no impact on the Company. The early adoption had no impact on the Company's financial position; refer to Note 14 for further information.
Recently Issued Accounting Pronouncements and Securities and Exchange Commission Rules
Disaggregation of Income Statement Expenses
In November 2024, ASU 2024-03 was issued, requiring additional disclosures in the notes to the financial statements on the nature of certain expense captions presented on the face of the Consolidated Statement of Operations. The new guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impacts of the guidance on its Consolidated Financial Statements.
v3.25.4
ACQUISITIONS AND DIVESTITURES (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination [Abstract]  
Summary of Acquisition Date Fair Value of Consideration Transferred
The acquisition date fair value of the consideration transferred consisted of the following:
(in millions, except share and per share data)SharesPer SharePurchase Consideration
Stock Consideration
Shares of Newmont exchanged for Newcrest outstanding ordinary shares357,691,627 $37.88 $13,549 
Total Purchase Price$13,549 
Summary of Final Purchase Price Allocation The following table summarizes the final purchase price allocation for the Newcrest transaction:
ASSETS
Cash and cash equivalents$668 
Trade receivables212 
Inventories723 
Stockpiles and ore on leach pads113 
Derivative assets42 
Other current assets193 
Current assets1,951 
Property, plant and mine development, net (1)
13,504 
Investments (2)
990 
Stockpiles and ore on leach pads (3)
219 
Deferred income tax assets (4)
75 
Goodwill (5)
2,401 
Derivative assets362 
Other non-current assets (6)
398 
Total assets19,900 
LIABILITIES
Accounts payable344 
Employee-related benefits143 
Lease and other financing obligations16 
Debt1,923 
Other current liabilities333 
Current liabilities2,759 
Debt (7)
1,373 
Lease and other financing obligations35 
Reclamation and remediation liabilities (8)
745 
Deferred income tax liabilities (4)
1,236 
Employee-related benefits192 
Other non-current liabilities11 
Total liabilities6,351 
Net assets acquired$13,549 
____________________________
(1)The fair value of property, plant and mine development is based on applying income, market, and cost valuation methods. Measurement period adjustments of $321 increased Property, plant and mine development, net, from the preliminary valuation primarily related to the Canadian, Lihir, and Telfer assets.
(2)The fair value of the investments was determined by applying the market approach, based on quoted prices for the acquired investments.
(3)The fair value of stockpiles and ore on leach pads is based on applying the income valuation method. Measurement period adjustments of $85 increased Stockpiles and ore on leach pads from the preliminary valuation primarily relating to the valuation of stockpiles at Lihir.
(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 the majority of the goodwill balance) and liabilities and a tax basis increase to the fair value of the assets acquired in Australia and the historical carryover tax basis of assets and liabilities in all other jurisdictions. No deferred tax liability is recognized for the basis difference inherent in the fair value allocated to goodwill. Measurement period adjustments resulted in Deferred income tax assets decreasing by $114 and Deferred income tax liabilities decreasing by $95 from the preliminary valuation.
(5)Goodwill is attributable to the following reportable segments: $669 to Brucejack; $539 to Red Chris; $249 to Cadia; and $944 to Lihir. Measurement period adjustments resulted in an overall reduction to Goodwill of $343 from the preliminary valuation.
(6)Measurement period adjustments of $305 increased Other non-current assets from the preliminary valuation primarily due to the recognition of an intangible asset.
(7)The fair value of the Newcrest senior notes was measured using a market approach, based on quoted prices for the acquired debt.
(8)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. Measurement period adjustments of $352 increased Reclamation and remediation liabilities.
Schedule of Pro Forma Financial Information
The following unaudited pro forma financial information presents consolidated results assuming the Newcrest transaction occurred on January 1, 2022.
December 31, 2023
Sales$15,432 
Net income (loss) attributable to Newmont stockholders (1)
$(1,991)
____________________________
(1)Includes $464 of Newcrest transaction and integration costs for the year ended December 31, 2023.
Summary of Consideration Received on Divestitures Gains and losses recognized on the completed sales during the years ended December 31, 2025 and 2024 are summarized in the table below; value of consideration received and indemnifications provided represent the value at the time of close.
Telfer (1)
CC&VMusselwhiteÉléonorePorcupineAkyemCoffee ProjectTotal
Cash received, net of working capital adjustments (2)
$217 $109 $799 $784 $201 $888 $10 $3,008 
Deferred consideration received61 154 14 — 107 84 65 485 
Equity consideration242 — — — 233 — 80 555 
Option on equity consideration(67)— — — — — — (67)
Value of consideration received453 263 813 784 541 972 155 3,981 
Less: Carrying value of net assets divested(613)(196)(794)(612)(513)(270)(161)(3,159)
Less: Indemnification provided— (65)— — — (19)— (84)
Gain (loss) on completed sales (3)(4)
$(160)$2 $19 $172 $28 $683 $(6)$738 
____________________________
(1)Closed during the year ended December 31, 2024; all other divestments closed during the year ended December 31, 2025.
(2)Certain working capital adjustments are to be finalized over a defined period from the close of sale. Any resulting revisions will be settled in cash, with an offsetting impact recognized in (Gain) loss on sale of assets held for sale. Adjustments are not expected to be material.
(3)Recognized in (Gain) loss on sale of assets held for sale.
(4)Since designation as held for sale in the first quarter of 2024: CC&V incurred a total net loss of $15, including a gain of $2 for the year ended December 31, 2025; Porcupine incurred a total net loss of $358, including a $76 loss reversal and $28 gain recognized in the first and second quarter of 2025, respectively, resulting in a total gain of $104 recognized for the year ended December 31, 2025; Coffee incurred a total net loss of $161, including a $65 loss reversal and $6 loss recognized in the first and second quarter of 2025, respectively, resulting in a total gain of $59 recognized for the year ended December 31, 2025. Total net losses for CC&V, Porcupine, and Coffee include prior period write-downs; no prior period write-downs were incurred for Musselwhite, Éléonore, or Akyem.
The following table presents the carrying value of the major classes of assets and liabilities held for sale by disposal group as of December 31, 2024, prior to recognition of the write-down of $699 for the year ended December 31, 2024. All disposal groups were divested as of December 31, 2025.
CC&V
Musselwhite
Éléonore
Porcupine
Akyem
Coffee Project (1)
Total
Assets held for sale:
Property, plant and mine development, net$170 $1,063 $785 $1,541 $559 $321 $4,439 
Other assets408 39 70 93 258 1 869 
Carrying value of assets held for sale$578 $1,102 $855 $1,634 $817 $322 $5,308 
Liabilities held for sale:
Reclamation and remediation liabilities$334 $82 $87 $563 $427 $3 $1,496 
Other liabilities37 257 71 223 91 2 681 
Carrying value of liabilities held for sale$371 $339 $158 $786 $518 $5 $2,177 
____________________________
(1)The Coffee Project is included in the non-operating segment Corporate and Other in Note 4.
Schedule of Carrying Values of Assets and Liabilities Held for Sale
For the year ended December 31, 2025 and 2024, (Gain) loss on sale of assets held for sale consistent of the following:
Year Ended December 31,
20252024
(Gain) loss on completed sales$(898)$160 
(Reversal of write-downs) write-downs on assets classified as held for sale(141)699 
Tax impact (1)
(46)255 
Other (2)
19 — 
$(1,066)$1,114 
____________________________
(1)In 2024, a tax impact on write-downs of assets held for sale resulted in the establishment of a deferred tax asset, which increased the respective carrying values of the related disposal groups and resulted in an additional loss. In 2025, a tax impact on the reversal of prior write-downs of assets held for sale resulted in the reduction to the deferred tax asset, which decreased the respective carrying values of the related disposal group and resulted in an additional gain.
(2)Primarily consists of the impact of finalization of certain working capital adjustments on completed sales, and certain costs incurred under the transitional services support agreements.
v3.25.4
SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Financial Information of Company's Segments The financial information relating to the Company’s segments is as follows:
Year Ended December 31, 2025SalesCosts Applicable to SalesDepreciation and AmortizationReclamation and RemediationAdvanced Projects, Research and Development and Exploration
Other Segment Expenses (Income) (1)
Income (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures (2)
Managed
Lihir$1,983 $755 $188 $13 $10 $18 $999 $5,805 $148 
Cadia:
Gold1,409 324 125 
Copper885 301 120 
Total Cadia2,294 625 245 5 13 47 1,359 6,646 597 
Tanami1,353 429 124 3 10 26 761 2,734 571 
Boddington:
Gold1,988 685 128 
Copper258 127 24 
Total Boddington2,246 812 152 16 5 27 1,234 2,499 145 
Ahafo South (3)
2,266 825 185 7 48 (9)1,210 1,602 168 
Ahafo North (3)
242 31 10 — 7 (29)223 1,191 321 
Merian846 373 76 5 39 — 353 927 58 
Cerro Negro691 312 124 6 25 24 200 1,868 150 
Yanacocha1,804 411 113 (13)12 784 497 2,322 21 
Peñasquito:
Gold1,492 389 161 
Silver1,080 334 131 
Lead183 116 46 
Zinc664 423 152 
Total Peñasquito3,419 1,262 490 22 17 61 1,567 4,744 123 
Red Chris
Gold218 82 24 
Copper295 169 50 
Total Red Chris513 251 74 9 11 1 167 2,668 157 
Brucejack824 344 182 5 19 7 267 2,630 104 
Non-managed
NGM3,560 1,343 478 12 21 9 1,697 7,486 387 
Total Reportable Segments22,041 7,773 2,441 90 237 966 10,534 43,122 2,950 
Corporate and Other (4)
— — 74 144 169 (48)(339)13,999 23 
Divested (5)
CC&V88 39 2 2 — (3)48 — 5 
Musselwhite94 33 — 1 — (18)78 — 14 
Porcupine177 79 1 6 1 20 70 — 54 
Éléonore138 54 — 1 2 (171)252 — 12 
Akyem131 107 3 5 — (683)699 — 9 
Consolidated$22,669 $8,085 $2,521 $249 $409 $63 $11,342 $57,121 $3,067 
____________________________
(1)Other Segment Expenses (Income) for all reportable segments includes (Gain) loss on sale of assets held for sale, Impairment charges, Other expense, net, and Other income (loss), net. Refer to Notes 3, 7, 8, and 9, respectively, for further information. Additionally, Other Segment Expenses (Income) includes General and administrative, Change in fair value of investments and options, and Interest expense, net of capitalized interest, which are primarily incurred at the non-operating segment Corporate and Other.
(2)Includes an increase in non-cash adjustments of $32, primarily comprised of the change in accrued capital expenditures. Consolidated capital expenditures on a cash basis were $3,035.
(3)In the fourth quarter of 2025, the Ahafo North development project achieved commercial production resulting in designation as a reportable segment. Prior to declaration of commercial production, Ahafo North was classified as a development project and all activity was included in the Ahafo South reportable segment. Although not a reportable segment until the fourth quarter of 2025, the amounts related to Ahafo North have been reported separately for comparability purposes.
(4)Included the Coffee development project, which was divested in the fourth quarter of 2025. Refer to Note 3 for information on the Company's divestitures.
(5)Refer to Note 3 for information on the Company's divestitures.
Year Ended December 31, 2024SalesCosts Applicable to SalesDepreciation and Amortization
Reclamation and Remediation
Advanced Projects, Research and Development and Exploration
Other Segment Expenses (Income) (1)
Income (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures (2)
Managed
Lihir$1,473 $787 $168 $12 $16 $21 $469 $5,625 $193 
Cadia
Gold1,118 297 119 
Copper743 280 123 
Total Cadia1,861 577 242 5 19 (23)1,041 6,208 537 
Tanami988 390 123 2 28 (19)464 2,236 437 
Boddington:
Gold1,417 613 112 
Copper329 204 39 
Total Boddington1,746 817 151 13 4 (23)784 2,420 129 
Ahafo South (3)
1,923 722 215 8 32 (38)984 2,674 127 
Ahafo North (3)
— — — — 9 — (9)751 255 
Merian660 401 84 4 21 (1)151 943 81 
Cerro Negro566 312 123 5 19 13 94 1,787 186 
Yanacocha841 353 98 55 9 2 324 1,932 61 
Peñasquito:
Gold713 225 103 
Silver792 360 159 
Lead195 116 52 
Zinc622 427 162 
Total Peñasquito2,322 1,128 476 20 13 43 642 4,879 129 
Red Chris
Gold96 47 14 
Copper229 172 52 
Total Red Chris325 219 66 7 13 (2)22 2,580 150 
Brucejack610 312 172 5 13 — 108 2,660 70 
Non-managed
NGM2,485 1,263 428 11 23 32 728 7,430 448 
Held for sale (4)
CC&V347 200 13 11 7 19 97 561 26 
Musselwhite516 224 18 3 6 — 265 1,102 97 
Porcupine673 310 36 27 6 633 (339)1,172 201 
Éléonore583 325 21 4 11 (2)224 855 100 
Akyem495 338 57 14 5 (5)86 817 24 
Total Reportable Segments18,414 8,678 2,491 206 254 650 6,135 46,632 3,251 
Corporate and Other— — 68 109 195 967 (1,339)9,717 22 
Divested (4)
Telfer
Gold242 245 14 
Copper26 40 3 
Total Telfer268 285 17 13 14 158 (219)— 51 
Consolidated$18,682 $8,963 $2,576 $328 $463 $1,775 $4,577 $56,349 $3,324 
____________________________
(1)Other Segment Expenses (Income) for all reportable segments includes (Gain) loss on sale of assets held for sale, Impairment charges, Other expense, net, and Other income (loss), net. Refer to Notes 3, 7, 8, and 9, respectively, for further information. Additionally, Other Segment Expenses (Income) includes General and administrative, Change in fair value of investments and options, and Interest expense, net of capitalized interest which are primarily incurred at the non-operating segment Corporate and Other.
(2)Includes a decrease in non-cash adjustments of $78, primarily comprised of the change in accrued capital expenditures. Consolidated capital expenditures on a cash basis were $3,402.
(3)In the fourth quarter of 2025, the Ahafo North development project achieved commercial production resulting in designation as a reportable segment. Prior to declaration of commercial production, Ahafo North was classified as a development project and all activity was included in the Ahafo South reportable segment. Although not a reportable segment until the fourth quarter of 2025, the amounts related to Ahafo North have been reported separately for comparability purposes.
(4)Refer to Note 3 for information on the Company's divestitures.
Year Ended December 31, 2023SalesCosts Applicable to SalesDepreciation and Amortization
Reclamation and Remediation
Advanced Projects, Research and Development and Exploration
Other Segment Expenses (Income) (1)
Income (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures (2)
Managed
Lihir (3)
$266 $146 $20 $— $2 $5 $93 $3,909 $53 
Cadia: (3)
Gold250 129 16 
Copper172 116 14 
Total Cadia422 245 30 — 2 (13)158 6,351 75 
Tanami867 337 110 2 30 (19)407 1,896 413 
Boddington:
Gold1,451 634 108 
Copper363 204 35 
Total Boddington1,814 838 143 12 6 4 811 2,376 164 
Telfer: (3)
Gold135 126 6 
Copper17 22 1 
Total Telfer152 148 7 1 4 2 (10)574 9 
Ahafo South (4)
1,130 547 181 7 31 (14)378 2,307 139 
Ahafo North (4)
— — — — 9 — (9)516 171 
Akyem574 275 122 12 19 (5)151 1,069 40 
Merian625 385 82 3 23 10 122 927 84 
Cerro Negro510 328 137 4 10 16 15 1,646 162 
Porcupine503 301 117 18 17 5 45 1,473 166 
Éléonore453 295 101 3 10 247 (203)777 106 
Yanacocha537 294 85 1,232 11 (15)(1,070)2,117 312 
Musselwhite351 214 80 3 10 298 (254)1,018 104 
Peñasquito: (5)
Gold257 158 67 
Silver335 300 134 
Lead96 98 45 
Zinc213 253 105 
Total Peñasquito901 809 351 18 11 1,523 (1,811)4,738 113 
CC&V332 198 23 12 13 4 82 383 64 
Red Chris: (3)
Gold9 4 1 
Copper23 17 3 
Total Red Chris32 21 4 — — (1)8 2,178 25 
Brucejack (3)
72 69 22 — 7 — (26)4,006 22 
Non-managed
NGM2,271 1,249 452 11 29 98 432 7,401 472 
Total Reportable Segments11,812 6,699 2,067 1,338 244 2,145 (681)45,662 2,694 
Corporate and Other— — 41 195 221 893 (1,350)9,844 51 
Consolidated$11,812 $6,699 $2,108 $1,533 $465 $3,038 $(2,031)$55,506 $2,745 
____________________________
(1)Other Segment Expenses (Income) for all reportable segments includes Impairment charges, Other expense, net, and Other income (loss), net. Refer to Notes 7, 8, and 9, respectively, for more information. Additionally, Other Segment Expenses (Income) includes General and administrative, Change in fair value of investments and options, and Interest expense, net of capitalized interest which are primarily incurred at the non-operating segment Corporate and Other.
(2)Includes an increase in non-cash adjustments of $79, primarily comprised of the change in accrued capital expenditures. Consolidated capital expenditures on a cash basis were $2,666.
(3)Sites acquired through the Newcrest transaction. Refer to Note 3 for further information.
(4)In the fourth quarter of 2025, the Ahafo North development project achieved commercial production resulting in designation as a reportable segment. Prior to declaration of commercial production, Ahafo North was classified as a development project and all activity was included in the
Ahafo South reportable segment. Although not a reportable segment until the fourth quarter of 2025, the amounts related to Ahafo North have been reported separately for comparability purposes.
(5)In June 2023, the National Union of Mine and Metal Workers of the Mexican Republic (the "Union") notified the Company of a strike action. In response to the strike notice, the Company suspended operations at Peñasquito. The Company reached an agreement with the Union and operations at Peñasquito resumed in the fourth quarter of 2023.
Long-lived Assets, Excluding Deferred Tax Assets, Investments and Restricted Cash, by Country
Long-lived assets, which consist of Property, plant and mine development, net, non-current Stockpiles and ore on leach pads, and non-current right-of-use assets, included in Other non-current assets, were as follows:
At December 31,
20252024
Australia$10,393 $9,490 
United States (1)
6,566 7,125 
Canada (1)
4,625 8,358 
Papua New Guinea4,614 4,514 
Mexico3,606 3,822 
Ghana (1)
2,406 2,755 
Argentina1,604 1,582 
Peru1,269 2,203 
Suriname702 726 
Other18 27 
$35,803 $40,602 
____________________________
(1)Canada, United States, and Ghana include $3,723, $434, and $565, respectively, of long-lived assets included in Assets held for sale at December 31, 2024. Refer to Note 3 for additional information.
v3.25.4
SALES (Tables)
 12 Months Ended
Dec. 31, 2025
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:
Year Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Gold Doré
Concentrate and Other
Total Sales
Gold Doré
Concentrate and Other
Total Sales
Gold Doré
Concentrate and Other
Total Sales
Managed
Lihir (1)
$1,983 $— $1,983 $1,473 $— $1,473 $266 $— $266 
Cadia: (1)
Gold150 1,259 1,409 126 992 1,118 28 222 250 
Copper— 885 885 — 743 743 — 172 172 
Total Cadia150 2,144 2,294 126 1,735 1,861 28 394 422 
Tanami1,353 — 1,353 988 — 988 867 — 867 
Boddington:
Gold488 1,500 1,988 353 1,064 1,417 359 1,092 1,451 
Copper— 258 258 — 329 329 — 363 363 
Total Boddington488 1,758 2,246 353 1,393 1,746 359 1,455 1,814 
Ahafo South
2,266 — 2,266 1,923 — 1,923 1,130 — 1,130 
Ahafo North (2)
242 — 242 — — — — — — 
Merian821 25 846 638 22 660 600 25 625 
Cerro Negro 691 — 691 566 — 566 510 — 510 
Yanacocha1,781 23 1,804 833 8 841 526 11 537 
Peñasquito:
Gold— 1,492 1,492 — 713 713 36 221 257 
Silver (3)
— 1,080 1,080 — 792 792 — 335 335 
Lead— 183 183 — 195 195 — 96 96 
Zinc— 664 664 — 622 622 — 213 213 
Total Peñasquito— 3,419 3,419 — 2,322 2,322 36 865 901 
Red Chris: (1)
Gold— 218 218 — 96 96 — 9 9 
Copper— 295 295 — 229 229 — 23 23 
Total Red Chris— 513 513 — 325 325 — 32 32 
Brucejack (1)
540 284 824 415 195 610 48 24 72 
Non-managed
NGM (4)
3,387 173 3,560 2,336 149 2,485 2,178 93 2,271 
Divested (5)
CC&V88 — 88 347 — 347 332 — 332 
Musselwhite 94 — 94 516 — 516 351 — 351 
Porcupine 177 — 177 673 — 673 503 — 503 
Éléonore 138 — 138 583 — 583 453 — 453 
Akyem131 — 131 495 — 495 574 — 574 
Telfer: (1)
Gold— — — 47 195 242 20 115 135 
Copper— — — — 26 26 — 17 17 
Total Telfer— — — 47 221 268 20 132 152 
Consolidated$14,330 $8,339 $22,669 $12,312 $6,370 $18,682 $8,781 $3,031 $11,812 
____________________________
(1)Sites acquired through the Newcrest transaction. Refer to Note 3 for further information.
(2)In October 2025, the Company declared commercial production at its Ahafo North project in Ghana resulting in classification as a reportable segment.
(3)Silver sales from concentrate includes $84, $91, and $42 related to non-cash amortization of the silver streaming agreement liability for the years ended December 31, 2025, 2024, and 2023, respectively.
(4)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $3,410, $2,338, and $2,174 for the years ended December 31, 2025, 2024, and 2023, respectively.
(5)The Company completed the sale of Telfer in the fourth quarter of 2024, CC&V, Musselwhite, and Éléonore in the first quarter of 2025, and Porcupine and Akyem in the second quarter of 2025. Refer to Note 3 for information on the Company's divestitures.
At December 31, 2025, Newmont had the following provisionally priced concentrate sales subject to final pricing over the next several months:
Provisionally Priced Sales
Subject to Final Pricing (1)
Average Provisional
Price (per ounce/pound)
Gold (ounces, in thousands)141 $4,332 
Copper (pounds, in millions)66 $5.65 
Silver (ounces, in millions)7 $70.31 
Lead (pounds, in millions)48 $0.90 
Zinc (pounds, in millions)84 $1.41 
____________________________
(1)Includes provisionally priced by-product sales subject to final pricing, which are recognized in Costs applicable to sales.
Schedule of Revenues from Sales Based on the Customer's Location Revenues from sales attributed to countries based on the location of the customer were as follows:
Year Ended December 31,
202520242023
United Kingdom (1)
$13,068 $10,966 $7,637 
South Korea3,196 1,956 975 
Japan2,002 1,920 512 
China1,411 318 102 
Australia803 409 376 
Mexico
639 600 240 
Switzerland89 638 600 
Philippines82 709 451 
United States— 2 48 
Other1,379 1,164 871 
$22,669 $18,682 $11,812 
____________________________
(1)Includes $84, $91, and $42 related to non-cash amortization of the silver streaming agreement liability for the years ended December 31, 2025, 2024, and 2023, respectively.
Customers with revenue in excess of 10% of total Sales consisted of the following:
Year Ended December 31,
202520242023
Standard Chartered
$6,009 27 %$4,833 26 %$1,659 14 %
JPMorgan Chase
$2,499 11 %$2,317 12 %$2,583 22 %
Royal Bank of Canada
*
*$1,897 10 %$1,765 15 %
Toronto Dominion Bank
****$1,630 14 %
____________________________
*Sales during the year did not meet the 10% disaggregation threshold.
v3.25.4
RECLAMATION AND REMEDIATION (Tables)
 12 Months Ended
Dec. 31, 2025
Environmental Remediation Obligations [Abstract]  
Reclamation and Remediation Expense
The Company’s Reclamation and remediation expense consisted of:
Year Ended December 31,
202520242023
Reclamation adjustments and other$(172)$(108)$1,207 
Reclamation accretion307 365 238 
Reclamation expense135 257 1,445 
Remediation adjustments and other107 64 81 
Remediation accretion7 7 7 
Remediation expense114 71 88 
Reclamation and remediation$249 $328 $1,533 
Reconciliation of Reclamation Liabilities
The following are reconciliations of Reclamation and remediation liabilities:
ReclamationRemediationTotal
Balance at January 1, 2024
$8,385 $401 $8,786 
Additions, changes in estimates and other41 44 85 
Acquisitions and divestitures (1)
71 — 71 
Payments, net(351)(82)(433)
Accretion expense365 7 372 
Reclassification to Liabilities held for sale
(1,496)— (1,496)
Balance at December 31, 2024
7,015 370 7,385 
Additions, changes in estimates and other (2)
223 84 307 
Acquisitions and divestitures(13)— (13)
Payments, net(732)(71)(803)
Accretion expense307 7 314 
Balance at December 31, 2025
$6,800 $390 $7,190 
At December 31,
20252024
ReclamationRemediationTotalReclamationRemediationTotal
Current (3)
$829 $64 $893 $928 $63 $991 
Non-current (4)
5,971 326 6,297 6,087 307 6,394 
Total (5)
$6,800 $390 $7,190 $7,015 $370 $7,385 
____________________________
(1)During 2024, measurement period adjustments of $349 increased Reclamation and remediation liabilities from refinements to the preliminary valuation of the Newcrest sites. These adjustments were partially offset by $278 as a result of the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024.
(2)Reclamation adjustments during 2025 primarily relate to increased cost estimates at Peñasquito resulting from updated risk assessments and the identification of additional uncertainties regarding long-term tailings storage facility embankment stability, partially offset by a reduction in cost estimates at Yanacocha following the completion of several closure related studies.
(3)The current portion of reclamation and remediation liabilities are included in Other current liabilities; refer to Note 22 for further information.
(4)The non-current portion of reclamation and remediation liabilities are included in Reclamation and remediation liabilities.
(5)Total reclamation liabilities includes $3,906 and $4,546 related to Yanacocha at December 31, 2025 and 2024, respectively.
Reconciliation of Remediation Liabilities
The following are reconciliations of Reclamation and remediation liabilities:
ReclamationRemediationTotal
Balance at January 1, 2024
$8,385 $401 $8,786 
Additions, changes in estimates and other41 44 85 
Acquisitions and divestitures (1)
71 — 71 
Payments, net(351)(82)(433)
Accretion expense365 7 372 
Reclassification to Liabilities held for sale
(1,496)— (1,496)
Balance at December 31, 2024
7,015 370 7,385 
Additions, changes in estimates and other (2)
223 84 307 
Acquisitions and divestitures(13)— (13)
Payments, net(732)(71)(803)
Accretion expense307 7 314 
Balance at December 31, 2025
$6,800 $390 $7,190 
At December 31,
20252024
ReclamationRemediationTotalReclamationRemediationTotal
Current (3)
$829 $64 $893 $928 $63 $991 
Non-current (4)
5,971 326 6,297 6,087 307 6,394 
Total (5)
$6,800 $390 $7,190 $7,015 $370 $7,385 
____________________________
(1)During 2024, measurement period adjustments of $349 increased Reclamation and remediation liabilities from refinements to the preliminary valuation of the Newcrest sites. These adjustments were partially offset by $278 as a result of the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024.
(2)Reclamation adjustments during 2025 primarily relate to increased cost estimates at Peñasquito resulting from updated risk assessments and the identification of additional uncertainties regarding long-term tailings storage facility embankment stability, partially offset by a reduction in cost estimates at Yanacocha following the completion of several closure related studies.
(3)The current portion of reclamation and remediation liabilities are included in Other current liabilities; refer to Note 22 for further information.
(4)The non-current portion of reclamation and remediation liabilities are included in Reclamation and remediation liabilities.
(5)Total reclamation liabilities includes $3,906 and $4,546 related to Yanacocha at December 31, 2025 and 2024, respectively.
v3.25.4
IMPAIRMENT CHARGES (Tables)
 12 Months Ended
Dec. 31, 2025
Asset Impairment Charges [Abstract]  
Schedule of Impairment of Long-Lived Assets and Goodwill
Year Ended December 31,
202520242023
Long-lived and other assets (1)
Long-lived and other assets (1)
Long-lived and other assets (1)
Goodwill
Total
Yanacocha$770 $2 $— $— $— 
NGM (2)
4 25 75 11 86 
Peñasquito1 19 21 1,210 1,231 
Other (3)
67 32 35 539 574 
Impairment charges
$842 $78 $131 $1,760 $1,891 
____________________________
(1)Primarily relates to non-cash write-downs of materials and supplies inventory and various assets that are no longer in use, except for certain impairment charges described below.
(2)At December 31, 2024 and 2023, the Company recognized its proportionate share of the non-cash impairment charge on long-lived assets at NGM. The impairment charge resulted in a remaining balance of $2 and $22 within Property, plant and mine development, net at December 31, 2024 and 2023, respectively. The remaining balances were estimated based on observable market values for comparable assets for the individual assets that were determined to have residual market value.
(3)Consists of impairment on goodwill at Musselwhite and Éléonore for the year ended December 31, 2023; refer below for further information.
v3.25.4
OTHER EXPENSE, NET (Tables)
 12 Months Ended
Dec. 31, 2025
Operating Costs and Expenses [Abstract]  
Schedule of Other Expense, Net
Year Ended December 31,
202520242023
Restructuring and severance$186 $38 $24 
Settlement costs2 44 7 
Newcrest transaction and integration costs— 72 464 
Other98 37 22 
Other expense, net$286 $191 $517 
v3.25.4
OTHER INCOME (LOSS), NET (Tables)
 12 Months Ended
Dec. 31, 2025
Other Income, Nonoperating [Abstract]  
Schedule of Other Income (Loss), Net
Year Ended December 31,
202520242023
Interest income$214 $152 $148 
Foreign currency exchange(137)101 (56)
(Loss) gain on debt extinguishment (Note 20)
(101)32 — 
(Loss) gain on asset and investment sales (1)
(20)35 (197)
Pension settlements and curtailments (Note 11)
— (1)(9)
Other50 44 73 
Other income (loss), net$6 $363 $(41)
____________________________
(1)Primarily consists of the loss of $235 related to the abandonment of the pyrite leach plant at Peñasquito for the year ended December 31, 2023.
v3.25.4
INCOME AND MINING TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income and Mining Tax (Expense) Benefit - Current vs Deferred
The Company’s Income and mining tax benefit (expense) consisted of:
Year Ended December 31,
202520242023
Current:
United States$(157)$(93)$(20)
Foreign(3,048)(1,224)(610)
(3,205)(1,317)(630)
Deferred:
United States(96)(157)62 
Foreign(1,295)77 42 
(1,391)(80)104 
Income and mining tax benefit (expense)$(4,596)$(1,397)$(526)
Income and Mining Tax (Expense) Benefit - Domestic vs Foreign
The Company’s Income (loss) before income and mining tax and other items is attributable to the following jurisdictions:
Year Ended December 31,
202520242023
United States$1,527 $536 $111 
Foreign9,815 4,041 (2,142)
Income (loss) before income and mining tax and other items$11,342 $4,577 $(2,031)
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:
Year Ended December 31, (1)
202520242023
Income (loss) before income and mining tax and other items$11,342 $4,577 $(2,031)
U.S. Federal statutory tax rate21 %$(2,382)21 %$(961)21 %$427 
Reconciling items:
Domestic state and local income taxes, net of federal income tax effect (2)
1 %(78)1 %(35)(1)%(25)
Domestic federal:
Tax Credits— %— (1)%37 1 %19 
Nontaxable and nondeductible items:
Percentage depletion(1)%83 (1)%63 4 %72 
Other nontaxable and nondeductible items1 %(76)— %(3)(1)%(14)
Cross-border tax laws— %(17)— %(21)— %(10)
Changes in valuation allowance— %18 (1)%34 9 %192 
Impact of Transactions
(2)%278 3 %(157)— %— 
Impact of Foreign Tax Credit and U.S. Capital Losses Expiration— %— — %— (10)%(195)
Other— %9 1 %(53)— %— 
Worldwide changes in unrecognized tax benefits— %(1)(1)%63 1 %28 
Foreign tax effects:
Argentina:
Tax impact of foreign exchange(1)%65 2 %(93)2 %34 
Changes in valuation allowance— %(28)(2)%94 (3)%(56)
Other— %(15)1 %(36)— %7 
Australia:
Northern Territory Mineral Royalty1 %(127)2 %(79)(3)%(62)
Changes in valuation allowance(1)%60 1 %(24)1 %30 
Other— %(19)(1)%30 — %(4)
Rate differential for foreign earnings indefinitely reinvested4 %(304)3 %(157)(10)%(195)
Canada:
Mining and other taxes (net of associated federal benefit)— %(46)2 %(92)— %(2)
Tax impact of foreign exchange— %(25)(2)%73 (2)%(36)
Rate differential for foreign earnings indefinitely reinvested— %(51)— %9 1 %27 
Changes in valuation allowance1 %(69)(4)%182 (1)%(26)
Goodwill impairment— %— — %— (7)%(135)
Other1 %(91)(1)%39 — %— 
Ghana: (3)
Rate differential for foreign earnings indefinitely reinvested1 %(158)3 %(115)(3)%(55)
Transactions1 %(168)— %— — %— 
Permanent Assertion Removal1 %(165)— %— — %— 
Other1 %(74)1 %(27)(1)%(11)
Mexico:
Tax impact of foreign exchange— %52 (1)%57 — %(1)
Mining Tax1 %(126)— %(12)— %8 
Rate differential for foreign earnings indefinitely reinvested1 %(135)1 %(54)8 %162 
Changes in valuation allowance1 %(57)— %18 (2)%(34)
Goodwill impairment— %— — %— (18)%(363)
Prior period adjustment— %— — %— (1)%(27)
Other— %(10)1 %(37)1 %(11)
PNG:
Permanent Assertion Removal4 %(384)— %— — %— 
Other1 %(134)1 %(48)— %(8)
Peru:
Rate differential for foreign earnings indefinitely reinvested— %(40)1 %(30)4 %91 
Changes in valuation allowance2 %(282)— %13 (16)%(329)
Other1 %(64)1 %(37)— %(4)
Other foreign jurisdictions:
Rate differential for foreign earnings indefinitely reinvested— %— — %1 — %2 
Other— %(35)— %(39)— %(22)
Income and mining tax benefit (expense)40 %$(4,596)31 %$(1,397)(26)%$(526)
____________________________
(1)Percentages presented may not recalculate due to rounding.
(2)State taxes are comprised entirely of Nevada Net Proceeds Tax, net of federal benefit.
(3)Pursuant to the expiration of the Financial and Tax Stability Periods established by the Revised Investment Agreement in Ghana on December 31, 2025, the statutory tax rate for the Ahafo operations increased to 35% from 32.5%. The deferred balances were adjusted for the change to the tax rate and a $20 tax expense was recorded.
Components of Deferred Tax Assets (Liabilities)
Components of the Company's deferred income tax assets (liabilities) are as follows:
At December 31,
20252024
Deferred income tax assets:
Property, plant and mine development$1,257 $887 
Inventory100 132 
Reclamation and remediation2,246 2,077 
Net operating losses, capital losses and tax credits 2,217 2,297 
Employee-related benefits50 24 
Derivative instruments and unrealized loss on investments10 79 
Foreign exchange and financing obligations90 58 
Silver streaming agreement203 253 
Other546 555 
6,719 6,362 
Valuation allowances(4,782)(4,363)
1,937 1,999 
Deferred income tax liabilities:
Property, plant and mine development(4,320)(3,749)
Inventory(228)(132)
Investment in partnerships and subsidiaries (1,192)(582)
Other(197)(232)
(5,937)(4,695)
Net deferred income tax assets (liabilities)$(4,000)$(2,696)
Schedule of Income and Mining Taxes Paid, Net of Refunds
The amounts of income and mining taxes paid, net of refunds, by the Company are as follows:
Year Ended December 31,
202520242023
U.S. Federal$17 $1 $(1)
U.S. State and local:
Nevada50 40 19 
Foreign:
Australia737 341 414 
Canada*64 *
Ghana675 418 223 
Mexico315 *93 
PNG
158 **
Peru
341 **
Other165 102 46 
Total income and mining taxes paid, net of refunds$2,458 $966 $794 
____________________________
*The amount of income and mining taxes paid, net of refunds during the year does not meet the 5% disaggregation threshold.
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, exclusive of interest and penalties, is as follows:
202520242023
Total amount of gross unrecognized tax benefits at beginning of year$111 $144 $190 
Additions (reductions) for tax positions of prior years 10 (8)13 
Additions for tax positions of current year — — 2 
Reductions due to settlements with taxing authorities (12)(2)(18)
Reductions due to lapse of statute of limitations (5)(23)(43)
Total amount of gross unrecognized tax benefits at end of year$104 $111 $144 
v3.25.4
EMPLOYEE-RELATED BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Current and Long-Term Employee-Related Benefits
At December 31,
20252024
Current:
Accrued payroll and withholding taxes $534 $461 
Workers’ participation and other bonuses288 108 
Accrued severance (1)
38 19 
Other post-retirement benefit plans12 11 
Employee pension benefits 2 5 
Other employee-related payables 24 26 
$898 $630 
Non-current:
Accrued severance (1)
$466 $386 
Other post-retirement benefit plans 58 55 
Employee pension benefits 33 29 
Other employee-related payables 77 85 
$634 $555 
____________________________
(1)In the third quarter of 2025, management commenced a strategic plan to reduce operating costs and enhance profitability through organizational streamlining and reductions in workforce and office space in certain markets, resulting in accruals for severance and related restructuring charges recognized for the year ended December 31, 2025. Refer to Note 8 for further information.
Schedule of Reconciliation of Changes in the Obligations and Fair Value of Pension and Other Benefits
The following table provides a reconciliation of changes in the plans’ benefit obligations and assets’ fair values:
Pension BenefitsOther Benefits
2025202420252024
Change in benefit obligation:
Benefit obligation at beginning of year$313 $325 $60 $71 
Service cost12 14 1 1 
Interest cost16 17 4 4 
Actuarial loss (gain)
6 (14)12 (10)
Foreign currency exchange loss (gain)
1 (6)1 (2)
Benefits paid(26)(20)(15)(4)
Curtailment gain(6)— — — 
Settlement payments(5)(3)— — 
Divestitures (1)
(39)— — — 
Projected benefit obligation at end of year$272 $313 $63 $60 
Accumulated benefit obligation$253 $294 $63 $60 
Change in fair value of assets:
Fair value of assets at beginning of year$313 $322 $— $— 
Actual return on plan assets
33 11 — — 
Foreign currency exchange loss
— (4)— — 
Employer contributions6 7 15 4 
Benefits paid(26)(20)(15)(4)
Settlement payments(5)(3)— — 
Divestitures (1)
(39)— — — 
Fair value of assets at end of year$282 $313 $— $— 
(Unfunded) funded status, net:$10 $— $(63)$(60)
Amounts recognized in the Consolidated Balance Sheets:
Other non-current assets (2)
$45 $37 $— $— 
Employee-related benefits, current(2)(5)(5)(5)
Employee-related benefits, non-current (2)
(33)(32)(58)(55)
Net amounts recognized$10 $— $(63)$(60)
____________________________
(1)The Company divested the projected benefit obligation and plan assets related to the defined benefit pension plan at Porcupine as a result of the divestment on February 28, 2025. Refer to Note 3 for additional information.
(2)Includes $4 of non-current assets and $3 of non-current liabilities related to the pension plan at Porcupine that were reclassified to Assets held for sale and Liabilities held for sale as of December 31, 2024; no amounts remained in Assets held for sale or Liabilities held for sale as of December 31, 2025. Refer to Note 3 for additional information.
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets
The following table provides information for the Company's defined benefit pension plans that had aggregate accumulated benefit obligations and projected benefit obligations in excess of plan assets at December 31:
Pension Benefits (1)
20252024
Projected benefit obligation$37 $39 
Accumulated benefit obligation$28 $32 
Fair value of plan assets$1 $2 
____________________________
(1)Information for other benefit plans with accumulated benefit obligations in excess of plan assets has not been included as all of the other benefit plans are unfunded.
Schedule of Net Pension and Other Employee Benefit Amounts Recognized in the Consolidated Balance Sheets
The following table provides the net pension and other benefits amounts recognized in Accumulated other comprehensive income (loss):
Pension BenefitsOther Benefits
At December 31,At December 31,
2025202420252024
Accumulated other comprehensive income (loss):
Net actuarial (loss) gain$(57)$(71)$29 $33 
Prior service credit2 2 — — 
(55)(69)29 33 
Less: Income taxes13 15 (6)(7)
Total$(42)$(54)$23 $26 
Schedule of Components of the Net Periodic Pension and Other Benefits Costs
The following table provides components of the total benefit cost (income), inclusive of the net periodic pension and other benefits costs (credits):
Pension Benefit Costs (Credits)Other Benefit Costs (Credits)
Year Ended December 31,Year Ended December 31,
202520242023202520242023
Pension benefit cost (income), net: (1)
Service cost $12 $14 $12 $1 $1 $1 
Interest cost 16 17 17 4 4 4 
Expected return on plan assets (20)(24)(23)— — — 
Amortization, net3 1 (7)8 (2)(2)
Net periodic benefit cost (income)11 8 (1)13 3 3 
Settlement cost
1 1 9 — — — 
Gain on curtailment
(1)— — — — — 
Total benefit cost$11 $9 $8 $13 $3 $3 
____________________________
(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 Significant Assumptions Used in Measuring the Benefit obligation and Net Periodic Pension Benefit Cost
The following table summarizes the significant assumptions used to determine the benefit obligations at December 31, and net periodic benefit costs for the year then ended:
Pension BenefitsOther Benefits
202520242023202520242023
Benefit obligation:
Discount rate5.98 %5.77 %5.33 %6.48 %6.54 %6.09 %
Net periodic benefit cost:
Discount rate5.77 %5.33 %5.63 %6.54 %6.09 %6.10 %
Expected return on plan assets7.20 %7.09 %6.38 %N/AN/AN/A
Schedule of Plan Assets at Fair Value
The following table sets forth the Company’s target asset allocation and pension plan assets measured at fair value:
At December 31,
Target Allocation20252024
Commingled Funds: (1)
Fixed income investments45 %$123 $143 
World equity fund (U.S. and International equity investments)20 %55 54 
International equity investments12 %34 45 
U.S. equity investments11 %33 34 
Real estate8 %25 25 
High yield fixed income investments4 %11 11 
281 312 
Cash equivalents (2)
— %1 1 
Total$282 $313 
____________________________
(1)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.
(2)Cash equivalent instruments are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets and are primarily invested in money market securities and U.S. Treasury securities.
Schedule of Expected Benefit Payments
Expected benefit payments to plan participants are as follows:
Pension PlanOther Benefits Plan
2026$15 $6 
2027$16 $6 
2028$19 $6 
2029$20 $5 
2030$19 $5 
Thereafter$114 $27 
v3.25.4
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2025
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, 2025 is as follows:
RSUPSU
Number of UnitsWeighted Average Grant-Date Fair ValueNumber of UnitsWeighted Average Grant-Date Fair Value
Non-vested at beginning of year3,278,470 $36.13 1,641,713 $44.58 
Granted1,782,952 $46.11 419,290 $31.24 
Vested(1,453,507)$39.88 — $— 
Forfeited(674,378)$38.04 (332,854)$41.35 
Non-vested at end of year2,933,537 $39.90 1,728,149 $41.96 
v3.25.4
FAIR VALUE ACCOUNTING (Tables)
 12 Months Ended
Dec. 31, 2025
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, 2025
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents (1)
$7,647 $7,647 $— $— 
Restricted cash37 37 — — 
Trade receivables from provisional concentrate sales1,064 — 1,064 — 
Long-lived assets (Note 7)
78 — — 78 
Marketable equity and other securities (Note 15)
740 740 — — 
Restricted marketable debt and other securities (Note 6)
13 13 — — 
Derivative assets (Note 14)
262 — 60 202 
$9,841 $8,437 $1,124 $280 
Liabilities:
Debt (Note 20) (2)
$5,283 $— $5,283 $— 
Derivative liabilities (Note 14)
1 — 1 — 
Other liabilities339 — 339 — 
$5,623 $— $5,623 $— 
Fair Value at December 31, 2024
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents (1)
$3,619 $3,619 $— $— 
Restricted cash31 31 — — 
Trade receivables from provisional concentrate sales993 — 993 — 
Assets held for sale (Note 3) (3)
1,840 — 1,168 672 
Equity method investment
212 212 — — 
Marketable equity and other securities (Note 15)
305 305 — — 
Restricted marketable debt and other securities (Note 6)
15 15 — — 
Derivative assets (Note 14)
142 — — 142 
$7,157 $4,182 $2,161 $814 
Liabilities:
Debt (Note 20) (2)
$8,400 $— $8,400 $— 
Derivative liabilities (Note 14)
143 — 137 6 
Other liabilities51 — 51 — 
$8,594 $— $8,588 $6 
____________________________
(1)Cash and cash equivalents include short-term deposits that have an original maturity of three months or less.
(2)Debt is carried at amortized cost. The outstanding carrying value was $5,115 and $8,476 at December 31, 2025 and December 31, 2024, respectively. The fair value measurement of debt was based on an independent third-party pricing source.
(3)Includes assets held for sale that were written down to their fair value, excluding costs to sell, of $1,840 and the aggregate fair value, excluding costs to sell, of net assets held for sale subject to fair value remeasurement was $679.
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, 2025 and December 31, 2024:
DescriptionAt December 31, 2025Valuation techniqueSignificant inputRange, point estimate or averageWeighted Average Discount Rate
Long-lived assets$78 
Market-based approach
Various (1)
Various (1)
Derivative assets:
Hedging instruments
$162 Income approachForward power prices
A$37 - A$703
7.00%
Contingent consideration assets$40 Income approach
Forward gold prices
$4,254—%

DescriptionAt December 31, 2024Valuation techniqueSignificant inputRange, point estimate or average
Weighted Average Discount Rate
Assets held for sale (2)
$672 Income approach
Various (2)
Various (2)
9.75%
Derivative assets
Hedging instruments (3)
$94 Income approachForward power prices
A$43 - A$321
6.75%
Contingent consideration assets$47 Income approachDiscount rate
6.37% - 16.38%
10.67%
Derivative liabilities (3)
$5 Income approachDiscount rate
5.22% - 5.95%
5.66%
____________________________
(1)Refer to Note 7 for information on the assumptions and inputs specific to the non-recurring fair value measurement performed in connection with recoverability and impairment tests incurred for certain long-lived assets.
(2)Significant inputs at December 31, 2024 included: (i) cash flow estimates, (ii) a long-term gold price of $1,900, (iii) current estimates of resources and exploration potential, and (iv) a reporting unit specific discount rate of 9.75%.
(3)Hedging instruments consists of the net position of the Cadia PPA which is comprised of $1 is in a liability position and the non-current portion of $95 is in an asset position. The current liability portion is included in Derivative liabilities within the fair value hierarchy table and the non-current asset portion is included in Derivative assets within the fair value hierarchy table.
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:
Derivative Assets
Total Assets
Derivative Liabilities
Total Liabilities
Fair value at December 31, 2023$635 $635 $5 $5 
Sales and settlements (1)
(377)(377)— — 
Transfers out of Level 3 (2)
(76)(76)— — 
Fair value changes in Other comprehensive income (loss):
(53)(53)1 1 
Fair value changes in Change in fair value of investments and options
2 2 — — 
Fair value changes in Net income (loss) from discontinued operations
11 11 — — 
Fair value at December 31, 2024142 142 6 6 
Acquired through divestments (3)
14 14 — — 
Transfers out of Level 3 (4)
(47)(47)(5)(5)
Fair value changes in Other comprehensive income (loss):
67 67 (1)(1)
Fair value changes in Change in fair value of investments and options
26 26 — — 
Fair value at December 31, 2025$202 $202 $— $— 
____________________________
(1)In the second quarter of 2024, the Company sold the Stream Credit Facility Agreement which was a non-revolving credit facility for the Fruta del Norte mine operated by Lundin Gold Inc. (“Lundin Gold”), in which the Company holds a 32% interest; refer to Note 14 for further information. In the third quarter of 2024, the company sold the Batu and Elang Contingent consideration assets; refer to Note 1 for further information.
(2)In the first quarter of 2024, certain amounts relating to the Batu Hijau contingent consideration asset were reclassified from a derivative to a receivable as a result of achieving certain contractual milestones.
(3)The Company acquired contingent consideration assets as part of the divestitures that occurred in 2025. Refer to Note 3 for further information.
(4)The Company early adopted ASU 2025-07 on December 31, 2025 resulting in the reclassification of certain derivatives assets and liabilities. Refer to Note 14 for further information.
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:
Derivative Assets
Total Assets
Derivative Liabilities
Total Liabilities
Fair value at December 31, 2023$635 $635 $5 $5 
Sales and settlements (1)
(377)(377)— — 
Transfers out of Level 3 (2)
(76)(76)— — 
Fair value changes in Other comprehensive income (loss):
(53)(53)1 1 
Fair value changes in Change in fair value of investments and options
2 2 — — 
Fair value changes in Net income (loss) from discontinued operations
11 11 — — 
Fair value at December 31, 2024142 142 6 6 
Acquired through divestments (3)
14 14 — — 
Transfers out of Level 3 (4)
(47)(47)(5)(5)
Fair value changes in Other comprehensive income (loss):
67 67 (1)(1)
Fair value changes in Change in fair value of investments and options
26 26 — — 
Fair value at December 31, 2025$202 $202 $— $— 
____________________________
(1)In the second quarter of 2024, the Company sold the Stream Credit Facility Agreement which was a non-revolving credit facility for the Fruta del Norte mine operated by Lundin Gold Inc. (“Lundin Gold”), in which the Company holds a 32% interest; refer to Note 14 for further information. In the third quarter of 2024, the company sold the Batu and Elang Contingent consideration assets; refer to Note 1 for further information.
(2)In the first quarter of 2024, certain amounts relating to the Batu Hijau contingent consideration asset were reclassified from a derivative to a receivable as a result of achieving certain contractual milestones.
(3)The Company acquired contingent consideration assets as part of the divestitures that occurred in 2025. Refer to Note 3 for further information.
(4)The Company early adopted ASU 2025-07 on December 31, 2025 resulting in the reclassification of certain derivatives assets and liabilities. Refer to Note 14 for further information.
v3.25.4
DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
At December 31,
20252024
Current derivative assets: (1)
Hedging instruments:
Foreign currency cash flow hedges
$60 $— 
Cadia PPA cash flow hedge
7 — 
67 — 
Contingent consideration assets (2)
20 — 
$87 $— 
Non-current derivative assets: (3)
Hedging instruments:
Cadia PPA cash flow hedge
$155 $95 
Contingent consideration assets (2)
20 47 
$175 $142 
Current derivative liabilities: (4)
Hedging instruments:
Foreign currency cash flow hedges
$1 $135 
Cadia PPA cash flow hedge
— 1 
1 136 
Contingent consideration liabilities (2)
— 2 
$1 $138 
Non-current derivative liabilities: (5)
Contingent consideration liabilities (2)
$— $5 
$— $5 
____________________________
(1)Included in Other current assets.
(2)The Company early adopted ASU 2025-07 on December 31, 2025 resulting in the reclassification of certain contingent consideration assets and liabilities. Refer below for further information.
(3)Included in Other non-current assets.
(4)Included in Other current liabilities.
(5)Included in Other non-current liabilities.
The Company has implemented various hedge programs in which fixed forward contracts have been entered into to mitigate variability in the USD-functional cash flows associated with specific expenditures. These fixed forward contracts have been designated as foreign currency cash flow hedges for the related forecasted expenditures and were transacted for risk management purposes. Refer to the table below for a summary of these programs at December 31, 2025:
AUD-denominated capital expendituresAUD-denominated operating expendituresCAD-denominated operating expenditures
AUD-denominated capital expenditures
Status:ActiveActiveActive
Matured (1)
Amount entered into:A$1,734A$4,002C$1,088A$574
Cash flow type:Capital expenditures for construction and developmentOperating expendituresOperating expendituresCapital expenditures for construction and development
Incurred in the periods of:October 2024 through December 2026October 2024 through December 2026October 2024 through December 20262023 through 2024
Related to:Tanami Expansion 2 project; Cadia PC1-2 and PC2-3 ("Cadia Panel Caves"); and Cadia Tailings Project ("Cadia Tails")Boddington, Tanami, and Cadia operating mines located in AustraliaBrucejack and Red Chris operating mines located in CanadaTanami Expansion 2 project
____________________________
(1)The hedge program matured in 2024 and a gain of $7 remains in Accumulated other comprehensive income (loss) as of December 31, 2025.
Derivative Instruments, Gain (Loss)
The following table provides the losses (gains) recognized in earnings related to the Company's derivative instruments designated for hedging:
Year Ended December 31,
202520242023
Loss on cash flow hedges:
Interest rate contracts (1)
$57 $10 $5 
Foreign currency cash flow hedges (2)
30 7 19 
Cadia PPA cash flow hedge (3)
7 5 — 
$94 $22 $24 
____________________________
(1)As of December 31, 2025, amounts remaining in Accumulated other comprehensive income (loss) fully relate to the interest rate contracts on the 2042 Senior Notes with the related losses to be reclassified from Accumulated other comprehensive income (loss) and amortized to Interest expense, net of capitalized interest over the term of the notes. A loss of $3 is expected to be reclassified into earnings over the next 12 months. The actual amounts that will be reclassified to earnings could vary upon repurchase or exchange of the related long-term debt prior to maturity.
(2)As of December 31, 2025, a gain of $45 is expected to be reclassified out of Accumulated other comprehensive income (loss) into earnings over the next 12 months. The actual amounts that will be reclassified to earnings will vary due to future foreign currency exchange rates.
(3)As of December 31, 2025, a loss of $10 is expected to be reclassified out of Accumulated other comprehensive income (loss) into earnings over the next 12 months, which includes the amounts related to the initial fair value that are reclassified from Accumulated other comprehensive income (loss) to earnings on a systematic basis over the 15-year term. The actual amounts that will be reclassified to earnings will vary due to future power prices and power generation volumes.
v3.25.4
INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investments
At December 31,
20252024
Current investments:
Marketable equity securities$594 $21 
Non-current investments:
Marketable equity and other securities (1)
$171 $309 
Equity method investments (% ownership): 
Pueblo Viejo Mine (40%)
1,584 1,516 
NuevaUnión Project (50%)
973 961 
Lundin Gold (32%)
905 941 
Norte Abierto Project (50%)
553 532 
Greatland (20% at December 31, 2024) (2)
— 212 
4,015 4,162 
$4,186 $4,471 
____________________________
(1)Includes $25 accounted for under the measurement alternative.
(2)The Company's investment in Greatland, acquired through the sale of Telfer in the fourth quarter of 2024, is included in equity method investments under the fair value option at December 31, 2024 and in current marketable equity and other securities at December 31, 2025 as it no longer qualifies as an equity method investment with an ownership of 10% and loss of significance influence. Refer to Note 3 for further information.
Schedule of Equity Method Investments
The following table provides the income (loss) from the Company's equity method investments, recognized in Equity income (loss) of affiliates:
Year Ended December 31,
202520242023
Pueblo Viejo (40%)
$245 $91 $63 
Lundin Gold (32%)
169 45 — 
Other7 (3)— 
$421 $133 $63 
v3.25.4
INVENTORIES (Tables)
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Summary of Inventories
At December 31,
20252024
Materials and supplies$1,060 $1,081 
In-process199 118 
Concentrate162 148 
Precious metals91 76 
Inventories (1)
$1,512 $1,423 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, the related assets, including Inventories of $185, were reclassified to Assets held for sale at December 31, 2024; no amounts related to Inventories were reclassified to Assets held for sale at December 31, 2025. Refer to Note 3 for additional information.
The Company recorded write-downs classified as components of Costs applicable to sales and Depreciation and amortization to reduce the carrying value of inventories to net realizable value as follows:
Year Ended December 31,
2025 (1)
2024 (2)
2023 (3)
Costs applicable to sales$2 $44 $37 
Depreciation and amortization1 5 15 
$3 $49 $52 
____________________________
(1)For the year ended December 31, 2025, write-downs were not material.
(2)For the year ended December 31, 2024, write-downs primarily related to Telfer and Cerro Negro.
(3)For the year ended December 31, 2023, write-downs primarily related to Peñasquito.
v3.25.4
STOCKPILES AND ORE ON LEACH PADS (Tables)
 12 Months Ended
Dec. 31, 2025
STOCKPILES AND ORE ON LEACH PADS  
Stockpiles and Ore on Leach Pads
At December 31, 2025
At December 31, 2024 (1)
StockpilesOre on Leach PadsTotalStockpilesOre on Leach PadsTotal
Current$893 $284 $1,177 $624 $137 $761 
Non-current2,284 126 2,410 2,072 194 2,266 
Total$3,177 $410 $3,587 $2,696 $331 $3,027 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, the related assets, including Stockpiles and ore on leach pads of $374, were reclassified to Assets held for sale at December 31, 2024; no amounts related to Stockpiles and ore on leach pads were reclassified to Assets held for sale at December 31, 2025. Refer to Note 3 for additional information.
The Company recorded write-downs classified as components of Costs applicable to sales and Depreciation and amortization to reduce the carrying value of stockpiles and ore on leach pads to net realizable value as follows:
Year Ended December 31,
2025 (1)
2024 (2)
2023 (3)
Costs applicable to sales$25 $48 $60 
Depreciation and amortization10 16 15 
$35 $64 $75 
____________________________
(1)For the year ended December 31, 2025, write-downs primarily related to NGM.
(2)For the year ended December 31, 2024, write-downs primarily related to Red Chris and NGM.
(3)For the year ended December 31, 2023, write-downs primarily related to NGM.
v3.25.4
PROPERTY, PLANT AND MINE DEVELOPMENT (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Mine Development
Depreciable Life
(in years)		At December 31, 2025
At December 31, 2024
CostAccumulated
Depreciation
Net Book
Value
CostAccumulated
Depreciation
Net Book
Value (1)
Land $297 $— $297 $253 $— $253 
Facilities and equipment (2)
1-32
24,337 (12,424)11,913 23,362 (11,761)11,601 
Mine development 
1-32
7,329 (3,440)3,889 6,562 (3,533)3,029 
Mineral interests 
1-32
16,997 (4,363)12,634 17,050 (3,569)13,481 
Construction-in-progress 4,577 — 4,577 5,183 — 5,183 
$53,537 $(20,227)$33,310 $52,410 $(18,863)$33,547 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, the related assets, including Property, plant and mine development, net of $4,439, were reclassified to Assets held for sale at December 31, 2024; no amounts related to Property, plant and mine development, net were reclassified to Assets held for sale at December 31, 2025. Refer to Note 3 for additional information.
(2)At December 31, 2025 and 2024, Facilities and equipment includes finance lease right of use assets of $432 and $482, respectively.
Depreciable Life
(in years)		At December 31, 2025At December 31, 2024
Mineral InterestsCostAccumulated
Depreciation		Net Book
Value		CostAccumulated
Depreciation
Net Book
Value (1)
Production stage 
1-32
$12,343 $(4,363)$7,980 $12,191 $(3,569)$8,622 
Development stage 
(2)
1,329 — 1,329 1,386 — 1,386 
Exploration stage 
(2)
3,325 — 3,325 3,473 — 3,473 
$16,997 $(4,363)$12,634 $17,050 $(3,569)$13,481 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, the related assets, including $1,885 of mineral interests included in Property, plant and mine development, net, were reclassified to Assets held for sale. No amounts related to Property, plant and mine development, net were reclassified to Assets held for sale at December 31, 2025. Refer to Note 3 for additional information.
(2)These amounts are currently non-depreciable as these mineral interests have not reached production stage.
v3.25.4
GOODWILL (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill by Segment
Changes in the carrying amount of goodwill by reportable segment were as follows:
Balance at December 31, 2023
Acquisitions (1)
Balance at December 31, 2024
Balance at December 31, 2025
Lihir$695 $249 $944 $944 
Cadia565 (316)249 249 
Red Chris397 142 539 539 
Brucejack1,087 (418)669 669 
NGM257 — 257 257 
$3,001 $(343)$2,658 $2,658 
____________________________
(1)Amounts relate to goodwill recognized through the Newcrest transaction on November 6, 2023. During 2024, goodwill was subject to measurement period adjustments to the purchase price allocation. Refer to Note 3 for further information.
v3.25.4
DEBT (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt Components, Current and Non-Current
At December 31, 2025 (1)
At December 31, 2024 (1)
Non-Current
Fair Value (2)
CurrentNon-Current
Fair Value (2)
5.30% Senior Notes due March 2026
$— $— $924 $— $948 
2.80% Senior Notes due October 2029
265 257 — 633 587 
3.25% Senior Notes due May 2030
379 411 — 554 583 
2.25% Senior Notes due October 2030
246 230 — 872 765 
2.60% Senior Notes due July 2032
785 728 — 821 713 
5.35% Senior Notes due March 2034
987 1,061 — 987 1,012 
5.875% Senior Notes due April 2035
502 567 — 581 625 
6.25% Senior Notes due October 2039
275 308 — 861 934 
5.75% Senior Notes due November 2041
292 326 — 457 500 
4.875% Senior Notes due March 2042
562 553 — 949 891 
5.45% Senior Notes due June 2044
460 433 — 479 435 
4.20% Senior Notes due May 2050
365 409 — 363 407 
Debt issuance costs on Corporate Revolving Credit Facilities(3)— — (5)— 
$5,115 $5,283 $924 $7,552 $8,400 
____________________________
(1)All outstanding senior notes are unsecured and rank equally with one another.
(2)The estimated fair value of the senior notes was determined by an independent third-party pricing source and may or may not reflect the actual trading value of this debt.
Schedule of Minimum Debt Repayments
Maturities for the next five years, and thereafter, are as follows:
Year Ending December 31,
2026$— 
2027— 
2028— 
2029267 
2030671 
Thereafter4,405 
Total face value of debt5,343 
Unamortized premiums, discounts, and issuance costs(228)
Debt$5,115 
Schedule of Debt Instrument Redemption
The following table summarizes the redemptions by senior note:
Year Ended December 31,
2025
2024 (1)
Settled Principal AmountTotal Repurchase AmountSettled Principal AmountTotal Repurchase Amount
5.30% Senior Notes due March 2026 (2)
$928 $957 $72 $74 
2.80% Senior Notes due October 2029
371 357 62 58 
3.25% Senior Notes due May 2030
210 202 17 16 
2.25% Senior Notes due October 2030
631 583 120 107 
2.60% Senior Notes due July 2032
38 32 174 150 
5.35% Senior Noted due March 2034
1 1 — — 
5.875% Senior Notes due April 2035
83 87 — — 
6.25% Senior Notes due October 2039
595 666 — — 
5.75% Senior Notes due November 2041
182 192 — — 
4.875% Senior Notes due March 2042
392 384 38 36 
5.45% Senior Notes due June 2044
17 17 — — 
$3,448 $3,478 $483 $441 
____________________________
(1)Excludes activity related to the bilateral bank debt facilities and the revolving credit facility.
(2)The repurchase amount of the 2026 Senior Notes during 2025 included a make-whole provision of $10.
v3.25.4
LEASE AND OTHER FINANCING OBLIGATIONS (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Lease Cost
Total lease cost includes the following components:
Year Ended December 31,
20252024
Operating lease cost$26 $27 
Finance lease cost:
Amortization of ROU assets93 91 
Interest on lease liabilities30 35 
123 126 
Variable lease cost302 509 
Short-term lease cost84 76 
$535 $738 
Supplemental cash flow information related to leases includes the following:
Year Ended December 31,
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows relating to operating leases$24 $20 
Operating cash flows relating to finance leases$30 $34 
Financing cash flows relating to finance leases$95 $87 
Non-cash lease obligations arising from obtaining ROU assets:
Operating leases$45 $10 
Finance leases$54 $59 
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)68
Weighted average discount rate4.39 %6.16 %
Schedule of Future Minimum Lease Payments, Operating Leases
Future minimum lease payments under non-cancellable leases as of December 31, 2025, were as follows:
Operating
Leases (1)
Finance Leases
2026$33 $119 
202721 88 
202815 78 
202915 53 
203013 45 
Thereafter26 225 
Total future minimum lease payments123 608 
Less: Imputed interest(14)(134)
Total$109 $474 
____________________________
(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.
Schedule of Future Minimum Lease Payments, Finance Leases
Future minimum lease payments under non-cancellable leases as of December 31, 2025, were as follows:
Operating
Leases (1)
Finance Leases
2026$33 $119 
202721 88 
202815 78 
202915 53 
203013 45 
Thereafter26 225 
Total future minimum lease payments123 608 
Less: Imputed interest(14)(134)
Total$109 $474 
____________________________
(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.
v3.25.4
OTHER LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]  
Other Liabilities
At December 31,
20252024
Other current liabilities:
Reclamation and remediation liabilities$893 $991 
Accrued operating costs (1)
421 468 
Greatland Option (2)
339 — 
Accrued capital expenditures254 208 
Payables to NGM (3)
227 115 
Accrued royalties181 165 
Silver streaming agreement93 76 
Accrued interest57 97 
Hedging instruments (Note 14)
1 136 
Other (4)
226 225 
$2,692 $2,481 
Other non-current liabilities:
Income and mining taxes (5)
$133 $125 
Indemnification liabilities63 17 
Other (6)
126 146 
$322 $288 
____________________________
(1)In the first quarter of 2025, the Company paid $116 to the Worsley JV related to the waiver of certain rights within the cross-operation agreement that confers priority to the bauxite operations at the Boddington mine. This payment is included in other investing activities in the Consolidated Statement of Cash Flows.
(2)The Greatland Option was acquired through the sale of Telfer in the fourth quarter of 2024 and accounted for under the fair value option with changes in the fair value recognized through earnings each reporting period in Change in fair value of investments and options. The option was included in Other non-current liabilities at December 31, 2024 for $51. In January 2026, the option was exercised resulting in extinguishment. Refer to Note 3 for further information.
(3)Payables to NGM at December 31, 2025 and December 31, 2024 consist of amounts due to NGM representing Barrick's 61.5% proportionate share of the amount owed to NGM for gold and silver purchased by Newmont. Newmont’s 38.5% share of such amounts is eliminated upon proportionate consolidation of its interest in NGM. Receivables for Newmont's 38.5% proportionate share related to NGM's activities with Barrick are presented within Other current assets.
(4)Primarily consists of the taxes other than income and mining taxes and current portion of operating lease liabilities.
(5)Primarily consists of unrecognized tax benefits, including penalties and interest.
(6)Primarily consists of the non-current portion of operating lease liabilities.
v3.25.4
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​ (Tables)
 12 Months Ended
Dec. 31, 2025
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Schedule of Change in Accumulated Other Comprehensive Income (Loss)
Unrealized Gain (Loss) on Hedge InstrumentsOther AdjustmentsTotal
Balance at December 31, 2023$(70)$84 $14 
Net current-period other comprehensive income (loss):
(Loss) gain in other comprehensive income (loss) before reclassifications(140)13 (127)
Loss (gain) reclassified from accumulated other comprehensive income (loss)17 1 18 
Other comprehensive income (loss)(123)14 (109)
Balance at December 31, 2024(193)98 (95)
Net current-period other comprehensive income (loss):
Gain (loss) in other comprehensive income (loss) before reclassifications140 (9)131 
Loss (gain) reclassified from accumulated other comprehensive income (loss)94 7 101 
Other comprehensive income (loss)234 (2)232 
Balance at December 31, 2025$41 $96 $137 
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,
202520242023
Hedge instruments adjustments:
Interest rate contracts (1)
$72 $10 $5 
Interest expense, net of capitalized interest
Foreign currency cash flow hedges44 7 19 Costs applicable to sales
Amortization10 5 — Costs applicable to sales
Total before tax126 22 24 
Tax(32)(5)(6)
Net of tax94 17 18 
Other adjustments:
Amortization, Settlements, and Curtailments (2)
11 — — 
Other income (loss), net
Divestitures (3)
(3)— — 
(Gain) loss on sale of assets held for sale
Other— 1 — 
Other income (loss), net
Total before tax8 1 — 
Tax(1)— — 
Net of tax7 1 — 
Total reclassifications for the period, net of tax$101 $18 $18 
____________________________
(1)For the year ended December 31, 2025, includes acceleration of losses related to previously terminated interest rate cash flow hedges resulting from the extinguishment of certain senior notes. The acceleration of loss was recognized in Other income (loss), net. Refer to Note 20 for further information.
(2)Relates to pension and other post-retirement benefits. Refer to Note 11 for more information.
(3)The Company divested the defined benefit pension plan at Porcupine as a result of the divestment on February 28, 2025. As a result, the related amounts held in Accumulated other comprehensive income (loss) were reclassified to (Gain) loss on sale of assets held for sale.
v3.25.4
THE COMPANY (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Nov. 06, 2023
Sep. 30, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]          
Net loss (income) attributable to noncontrolling interest     $ (82) $ (33) $ (27)
Net income (loss) from discontinued operations (Note 1)     $ 0 68 27
Income tax benefit (expense)       31 (5)
Royalties received       45 9
Discontinued Operations, Disposed of by Sale          
Business Combination [Line Items]          
Net income (loss) from discontinued operations (Note 1)       $ 68 $ 27
Discontinued Operations, Disposed of by Sale | Batu Hijau and Elang          
Business Combination [Line Items]          
Proceeds from sale of contingent consideration assets   $ 153      
Gain on disposal of contingent consideration assets   $ 15      
Primary Beneficiary | Merian Gold Project          
Business Combination [Line Items]          
Ownership interest held by parent (as a percent)     75.00%    
Newcrest Mining Limited          
Business Combination [Line Items]          
Total consideration transferred $ 13,549        
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Risks and Uncertainties (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Risks and Uncertainties      
Total Assets $ 57,121 $ 56,349 $ 55,506
Conga      
Risks and Uncertainties      
Asset care and maintenance period (in years) 10 years    
Total Assets $ 883 $ 892  
Yanacocha      
Risks and Uncertainties      
Property, plant and mine development, net 374    
Yanacocha | Asset under Construction      
Risks and Uncertainties      
Property, plant and mine development, net $ 78    
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stockpiles and Ore on Leach Pads (Details)
 12 Months Ended
Dec. 31, 2025
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%
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details)
 12 Months Ended
Dec. 31, 2025
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%
v3.25.4
ACQUISITIONS AND DIVESTITURES - Summary of Acquisition Date Fair Value of Consideration Transferred (Details) - Newcrest Mining Limited
$ / shares in Units, $ in Millions
Nov. 06, 2023
USD ($)
$ / shares
shares
Business Combination, Consideration Transferred [Abstract]  
Shares issued for Newcrest acquisition (in shares) | shares 357,691,627
Stock issued, price per share (in dollars per share) | $ / shares $ 37.88
Total consideration transferred | $ $ 13,549
v3.25.4
ACQUISITIONS AND DIVESTITURES - Summary of Final Purchase Price Allocation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
ASSETS      
Goodwill $ 2,658 $ 2,658 $ 3,001
Lihir      
ASSETS      
Goodwill 944 944 695
Brucejack      
ASSETS      
Goodwill 669 669 1,087
Red Chris      
ASSETS      
Goodwill 539 539 397
Cadia      
ASSETS      
Goodwill 249 $ 249 $ 565
Newcrest Mining Limited      
ASSETS      
Cash and cash equivalents 668    
Trade receivables 212    
Inventories 723    
Stockpiles and ore on leach pads 113    
Derivative assets 42    
Other current assets 193    
Current assets 1,951    
Property, plant and mine development, net 13,504    
Investments 990    
Stockpiles and ore on leach pads 219    
Deferred income tax assets 75    
Goodwill 2,401    
Derivative assets 362    
Other non-current assets 398    
Total assets 19,900    
LIABILITIES      
Accounts payable 344    
Employee-related benefits 143    
Lease and other financing obligations 16    
Debt 1,923    
Other current liabilities 333    
Current liabilities 2,759    
Debt 1,373    
Lease and other financing obligations 35    
Reclamation and remediation liabilities 745    
Deferred income tax liabilities 1,236    
Employee-related benefits 192    
Other non-current liabilities 11    
Total liabilities 6,351    
Net assets acquired 13,549    
Business combination, provisional information, initial accounting incomplete, adjustment, property, plant, and equipment 321    
Business combination, accounting adjustment, increase (decrease) in deferred income tax assets (114)    
Business combination, accounting adjustment, increase (decrease) in deferred income tax liabilities (95)    
Accounting adjustment, increase (decrease) in goodwill (343)    
Measurement period adjustment, goodwill 305    
Accounting adjustment, reclamation and remediation liabilities 352    
Newcrest Mining Limited | Lihir      
ASSETS      
Goodwill 944    
LIABILITIES      
Business combination, provisional information, initial accounting incomplete, adjustment, stockpiles and ore on leach pads 85    
Newcrest Mining Limited | Brucejack      
ASSETS      
Goodwill 669    
Newcrest Mining Limited | Red Chris      
ASSETS      
Goodwill 539    
Newcrest Mining Limited | Cadia      
ASSETS      
Goodwill $ 249    
v3.25.4
ACQUISITIONS AND DIVESTITURES - Additional Information (Details)
shares in Millions, $ in Millions
 1 Months Ended 2 Months Ended 3 Months Ended 12 Months Ended
Apr. 15, 2025
USD ($)
installment
Jan. 31, 2026
USD ($)
Feb. 29, 2024
asset
Dec. 31, 2023
USD ($)
Sep. 30, 2025
USD ($)
Jun. 30, 2025
USD ($)
shares
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
asset
Oct. 17, 2025
shares
Feb. 28, 2025
USD ($)
payment
installment
Dec. 04, 2024
USD ($)
shares
Business Combination [Line Items]                      
Gain on sale             $ 1,066.0 $ (1,114.0)      
Greatland Resources Limited                      
Business Combination [Line Items]                      
Option to purchase equity, shares (in shares) | shares                     67
Option to purchase equity, term (in years)                     4 years
Shares held (in shares) | shares           67          
Equity method investments           $ 274.0          
Ownership interest (as a percent)           10.00% 10.00%        
Cash proceeds on sale             $ 68.0        
Fuerte                      
Business Combination [Line Items]                      
Ownership interest (as a percent)             19.00%        
Greatland Option | Subsequent event                      
Business Combination [Line Items]                      
Equity method investments   $ 134.0                  
Greatland Resources Limited                      
Business Combination [Line Items]                      
Shares acquired, cost (in shares) | shares                     134
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program                      
Business Combination [Line Items]                      
Number of non-core assets to be divested | asset     6         6      
Discontinued Operations, Disposed of by Sale | Telfer                      
Business Combination [Line Items]                      
Ownership percentage in disposed asset                     0.70
Contingent consideration                     $ 100.0
Contingent consideration, term (in years)                     5 years
Discontinued Operations, Disposed of by Sale | CC&V                      
Business Combination [Line Items]                      
Deferred compensation receivable                   $ 175.0  
Deferred compensation, number of installments | installment                   2  
Deferred compensation receivable, installment amount                   87.5  
Indemnification coverage, percent                   90.00%  
Indemnification cost threshold                   $ 500.0  
Indemnification lump sum settlement option | payment                   1  
Discontinued Operations, Disposed of by Sale | Musselwhite                      
Business Combination [Line Items]                      
Deferred compensation receivable                   $ 40.0  
Deferred compensation, number of installments | installment                   2  
Deferred compensation receivable, installment amount                   20.0  
Discontinued Operations, Disposed of by Sale | Porcupine                      
Business Combination [Line Items]                      
Deferred compensation receivable $ 150.0                    
Deferred compensation, number of installments | installment 4                    
Discontinued Operations, Disposed of by Sale | Akyem                      
Business Combination [Line Items]                      
Deferred compensation receivable $ 100.0                    
Indemnification obligation cap $ 200.0                    
Indemnification claim period (in years) 5 years                    
Gain on sale         $ 35.0            
Discontinued Operations, Disposed of by Sale | Coffee Project                      
Business Combination [Line Items]                      
Deferred consideration, NSR royalty percentage                 0.03    
Equity consideration (in shares) | shares                 34    
Newcrest Mining Limited                      
Business Combination [Line Items]                      
Revenue since acquisition       $ 944.0              
Income (loss) since acquisition       $ 136.0              
v3.25.4
ACQUISITIONS AND DIVESTITURES - Schedule of Pro Forma Financial Information (Details) - Newcrest Mining Limited - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination, Pro Forma Information [Abstract]      
Sales     $ 15,432
Net income (loss) attributable to Newmont stockholders     (1,991)
Newcrest transaction and integration costs $ 0 $ 72 $ 464
v3.25.4
ACQUISITIONS AND DIVESTITURES - Summary of Consideration Received on Divestitures (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended 24 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Business Combination [Line Items]          
Gain (loss) on completed sales     $ 898 $ (160)  
Discontinued Operations, Disposed of by Sale          
Business Combination [Line Items]          
Cash received, net of working capital adjustments     3,008   $ 3,008
Deferred consideration received     485   485
Equity consideration     555   555
Option on equity consideration     (67)   (67)
Value of consideration received     3,981   3,981
Less: Carrying value of net assets divested     (3,159)   (3,159)
Less: Indemnification provided     (84)   (84)
Gain (loss) on completed sales     738    
Discontinued Operations, Disposed of by Sale | Telfer          
Business Combination [Line Items]          
Cash received, net of working capital adjustments     217   217
Deferred consideration received     61   61
Equity consideration     242   242
Option on equity consideration     (67)   (67)
Value of consideration received     453   453
Less: Carrying value of net assets divested     (613)   (613)
Less: Indemnification provided     0   0
Gain (loss) on completed sales     (160)    
Discontinued Operations, Disposed of by Sale | CC&V          
Business Combination [Line Items]          
Cash received, net of working capital adjustments     109   109
Deferred consideration received     154   154
Equity consideration     0   0
Option on equity consideration     0   0
Value of consideration received     263   263
Less: Carrying value of net assets divested     (196)   (196)
Less: Indemnification provided     (65)   (65)
Gain (loss) on completed sales     2   (15)
Discontinued Operations, Disposed of by Sale | Musselwhite          
Business Combination [Line Items]          
Cash received, net of working capital adjustments     799   799
Deferred consideration received     14   14
Equity consideration     0   0
Option on equity consideration     0   0
Value of consideration received     813   813
Less: Carrying value of net assets divested     (794)   (794)
Less: Indemnification provided     0   0
Gain (loss) on completed sales     19    
Discontinued Operations, Disposed of by Sale | Éléonore          
Business Combination [Line Items]          
Cash received, net of working capital adjustments     784   784
Deferred consideration received     0   0
Equity consideration     0   0
Option on equity consideration     0   0
Value of consideration received     784   784
Less: Carrying value of net assets divested     (612)   (612)
Less: Indemnification provided     0   0
Gain (loss) on completed sales     172    
Discontinued Operations, Disposed of by Sale | Porcupine          
Business Combination [Line Items]          
Cash received, net of working capital adjustments     201   201
Deferred consideration received     107   107
Equity consideration     233   233
Option on equity consideration     0   0
Value of consideration received     541   541
Less: Carrying value of net assets divested     (513)   (513)
Less: Indemnification provided     0   0
Gain (loss) on completed sales     28   (358)
Gain (loss) on disposition of assets, including write-downs and reversals of write-downs, before tax     104    
Loss reversal on disposition of assets   $ 76      
Discontinued Operations, Disposed of by Sale | Akyem          
Business Combination [Line Items]          
Cash received, net of working capital adjustments     888   888
Deferred consideration received     84   84
Equity consideration     0   0
Option on equity consideration     0   0
Value of consideration received     972   972
Less: Carrying value of net assets divested     (270)   (270)
Less: Indemnification provided     (19)   (19)
Gain (loss) on completed sales     683    
Discontinued Operations, Disposed of by Sale | Coffee Project          
Business Combination [Line Items]          
Cash received, net of working capital adjustments     10   10
Deferred consideration received     65   65
Equity consideration     80   80
Option on equity consideration     0   0
Value of consideration received     155   155
Less: Carrying value of net assets divested     (161)   (161)
Less: Indemnification provided     0   0
Gain (loss) on completed sales     (6)   $ 161
Gain (loss) on disposition of assets, including write-downs and reversals of write-downs, before tax     $ 59    
Loss reversal on disposition of assets $ (6) $ 65      
v3.25.4
ACQUISITIONS AND DIVESTITURES - Schedule of (Gain) Loss on Sale of Assets Held for Sale (Details - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Business Combination [Abstract]    
(Gain) loss on completed sales $ (898) $ 160
(Reversal of write-downs) write-downs on assets classified as held for sale (141) 699
Tax impact (46) 255
Other 19 0
(Gain) loss on asset and investment sales $ (1,066) $ 1,114
v3.25.4
ACQUISITIONS AND DIVESTITURES - Schedule of Carrying Values of Assets and Liabilities Held for Sale (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Liabilities held for sale:      
(Gain) loss on sale of assets held for sale $ 1,066 $ (1,114) $ 0
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program      
Assets held for sale:      
Property, plant and mine development, net $ 0 4,439  
Other assets   869  
Carrying value of assets held for sale   5,308  
Liabilities held for sale:      
Reclamation and remediation liabilities   1,496  
Other liabilities   681  
Carrying value of liabilities held for sale   2,177  
(Gain) loss on sale of assets held for sale   (699)  
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program | Corporate and Other      
Assets held for sale:      
Property, plant and mine development, net   321  
Other assets   1  
Carrying value of assets held for sale   322  
Liabilities held for sale:      
Reclamation and remediation liabilities   3  
Other liabilities   2  
Carrying value of liabilities held for sale   5  
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program | CC&V | Operating Segments      
Assets held for sale:      
Property, plant and mine development, net   170  
Other assets   408  
Carrying value of assets held for sale   578  
Liabilities held for sale:      
Reclamation and remediation liabilities   334  
Other liabilities   37  
Carrying value of liabilities held for sale   371  
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program | Musselwhite | Operating Segments      
Assets held for sale:      
Property, plant and mine development, net   1,063  
Other assets   39  
Carrying value of assets held for sale   1,102  
Liabilities held for sale:      
Reclamation and remediation liabilities   82  
Other liabilities   257  
Carrying value of liabilities held for sale   339  
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program | Éléonore | Operating Segments      
Assets held for sale:      
Property, plant and mine development, net   785  
Other assets   70  
Carrying value of assets held for sale   855  
Liabilities held for sale:      
Reclamation and remediation liabilities   87  
Other liabilities   71  
Carrying value of liabilities held for sale   158  
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program | Porcupine | Operating Segments      
Assets held for sale:      
Property, plant and mine development, net   1,541  
Other assets   93  
Carrying value of assets held for sale   1,634  
Liabilities held for sale:      
Reclamation and remediation liabilities   563  
Other liabilities   223  
Carrying value of liabilities held for sale   786  
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program | Akyem | Operating Segments      
Assets held for sale:      
Property, plant and mine development, net   559  
Other assets   258  
Carrying value of assets held for sale   817  
Liabilities held for sale:      
Reclamation and remediation liabilities   427  
Other liabilities   91  
Carrying value of liabilities held for sale   $ 518  
v3.25.4
SEGMENT INFORMATION - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
segment
plant
Segment Information  
Number of reportable segments 13
Number of mining operations | plant 12
Number of operating segments 13
NGM  
Segment Information  
Ownership interest (as a percent) 38.50%
v3.25.4
SEGMENT INFORMATION - Financial Information Table (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Information      
Sales $ 22,669 $ 18,682 $ 11,812
Costs applicable to sales [1] 8,085 8,963 6,699
Depreciation and amortization 2,521 2,576 2,108
Reclamation and Remediation 249 328 1,533
Advanced Projects, Research and Development and Exploration 409 463 465
Other segment expenses (income) 63 1,775 3,038
Income (Loss) before Income and Mining Tax and Other Items 11,342 4,577 (2,031)
Total Assets 57,121 56,349 55,506
Capital Expenditures 3,067 3,324 2,745
Increase (decrease) in accrued capital expenditures 32 (78) 79
Consolidated capital expenditures on a cash basis 3,035 3,402 2,666
Operating Segments      
Segment Information      
Sales 22,041 18,414 11,812
Costs applicable to sales 7,773 8,678 6,699
Depreciation and amortization 2,441 2,491 2,067
Reclamation and Remediation 90 206 1,338
Advanced Projects, Research and Development and Exploration 237 254 244
Other segment expenses (income) 966 650 2,145
Income (Loss) before Income and Mining Tax and Other Items 10,534 6,135 (681)
Total Assets 43,122 46,632 45,662
Capital Expenditures 2,950 3,251 2,694
Operating Segments | Lihir      
Segment Information      
Sales   1,473 266
Costs applicable to sales   787 146
Depreciation and amortization   168 20
Reclamation and Remediation   12 0
Advanced Projects, Research and Development and Exploration   16 2
Other segment expenses (income)   21 5
Income (Loss) before Income and Mining Tax and Other Items   469 93
Total Assets   5,625 3,909
Capital Expenditures   193 53
Operating Segments | Lihir | Continuing Operations      
Segment Information      
Sales 1,983 1,473 266
Costs applicable to sales 755    
Depreciation and amortization 188    
Reclamation and Remediation 13    
Advanced Projects, Research and Development and Exploration 10    
Other segment expenses (income) 18    
Income (Loss) before Income and Mining Tax and Other Items 999    
Total Assets 5,805    
Capital Expenditures 148    
Operating Segments | Cadia      
Segment Information      
Sales   1,861 422
Costs applicable to sales   577 245
Depreciation and amortization   242 30
Reclamation and Remediation   5 0
Advanced Projects, Research and Development and Exploration   19 2
Other segment expenses (income)   (23) (13)
Income (Loss) before Income and Mining Tax and Other Items   1,041 158
Total Assets   6,208 6,351
Capital Expenditures   537 75
Operating Segments | Cadia | Gold      
Segment Information      
Sales   1,118 250
Costs applicable to sales   297 129
Depreciation and amortization   119 16
Operating Segments | Cadia | Copper      
Segment Information      
Sales   743 172
Costs applicable to sales   280 116
Depreciation and amortization   123 14
Operating Segments | Cadia | Continuing Operations      
Segment Information      
Sales 2,294 1,861 422
Costs applicable to sales 625    
Depreciation and amortization 245    
Reclamation and Remediation 5    
Advanced Projects, Research and Development and Exploration 13    
Other segment expenses (income) 47    
Income (Loss) before Income and Mining Tax and Other Items 1,359    
Total Assets 6,646    
Capital Expenditures 597    
Operating Segments | Cadia | Continuing Operations | Gold      
Segment Information      
Sales 1,409    
Costs applicable to sales 324    
Depreciation and amortization 125    
Operating Segments | Cadia | Continuing Operations | Copper      
Segment Information      
Sales 885    
Costs applicable to sales 301    
Depreciation and amortization 120    
Operating Segments | Tanami      
Segment Information      
Sales   988 867
Costs applicable to sales   390 337
Depreciation and amortization   123 110
Reclamation and Remediation   2 2
Advanced Projects, Research and Development and Exploration   28 30
Other segment expenses (income)   (19) (19)
Income (Loss) before Income and Mining Tax and Other Items   464 407
Total Assets   2,236 1,896
Capital Expenditures   437 413
Operating Segments | Tanami | Continuing Operations      
Segment Information      
Sales 1,353 988 867
Costs applicable to sales 429    
Depreciation and amortization 124    
Reclamation and Remediation 3    
Advanced Projects, Research and Development and Exploration 10    
Other segment expenses (income) 26    
Income (Loss) before Income and Mining Tax and Other Items 761    
Total Assets 2,734    
Capital Expenditures 571    
Operating Segments | Boddington      
Segment Information      
Sales   1,746 1,814
Costs applicable to sales   817 838
Depreciation and amortization   151 143
Reclamation and Remediation   13 12
Advanced Projects, Research and Development and Exploration   4 6
Other segment expenses (income)   (23) 4
Income (Loss) before Income and Mining Tax and Other Items   784 811
Total Assets   2,420 2,376
Capital Expenditures   129 164
Operating Segments | Boddington | Gold      
Segment Information      
Sales   1,417 1,451
Costs applicable to sales   613 634
Depreciation and amortization   112 108
Operating Segments | Boddington | Copper      
Segment Information      
Sales   329 363
Costs applicable to sales   204 204
Depreciation and amortization   39 35
Operating Segments | Boddington | Continuing Operations      
Segment Information      
Sales 2,246 1,746 1,814
Costs applicable to sales 812    
Depreciation and amortization 152    
Reclamation and Remediation 16    
Advanced Projects, Research and Development and Exploration 5    
Other segment expenses (income) 27    
Income (Loss) before Income and Mining Tax and Other Items 1,234    
Total Assets 2,499    
Capital Expenditures 145    
Operating Segments | Boddington | Continuing Operations | Gold      
Segment Information      
Sales 1,988    
Costs applicable to sales 685    
Depreciation and amortization 128    
Operating Segments | Boddington | Continuing Operations | Copper      
Segment Information      
Sales 258    
Costs applicable to sales 127    
Depreciation and amortization 24    
Operating Segments | Ahafo South      
Segment Information      
Sales   1,923 1,130
Costs applicable to sales   722 547
Depreciation and amortization   215 181
Reclamation and Remediation   8 7
Advanced Projects, Research and Development and Exploration   32 31
Other segment expenses (income)   (38) (14)
Income (Loss) before Income and Mining Tax and Other Items   984 378
Total Assets   2,674 2,307
Capital Expenditures   127 139
Operating Segments | Ahafo South | Continuing Operations      
Segment Information      
Sales 2,266    
Costs applicable to sales 825    
Depreciation and amortization 185    
Reclamation and Remediation 7    
Advanced Projects, Research and Development and Exploration 48    
Other segment expenses (income) (9)    
Income (Loss) before Income and Mining Tax and Other Items 1,210    
Total Assets 1,602    
Capital Expenditures 168    
Operating Segments | Ahafo North      
Segment Information      
Sales   0 0
Costs applicable to sales   0 0
Depreciation and amortization   0 0
Reclamation and Remediation   0 0
Advanced Projects, Research and Development and Exploration   9 9
Other segment expenses (income)   0 0
Income (Loss) before Income and Mining Tax and Other Items   (9) (9)
Total Assets   751 516
Capital Expenditures   255 171
Operating Segments | Ahafo North | Continuing Operations      
Segment Information      
Sales 242 0 0
Costs applicable to sales 31    
Depreciation and amortization 10    
Reclamation and Remediation 0    
Advanced Projects, Research and Development and Exploration 7    
Other segment expenses (income) (29)    
Income (Loss) before Income and Mining Tax and Other Items 223    
Total Assets 1,191    
Capital Expenditures 321    
Operating Segments | Merian Gold Project      
Segment Information      
Sales   660 625
Costs applicable to sales   401 385
Depreciation and amortization   84 82
Reclamation and Remediation   4 3
Advanced Projects, Research and Development and Exploration   21 23
Other segment expenses (income)   (1) 10
Income (Loss) before Income and Mining Tax and Other Items   151 122
Total Assets   943 927
Capital Expenditures   81 84
Operating Segments | Merian Gold Project | Continuing Operations      
Segment Information      
Sales 846 660 625
Costs applicable to sales 373    
Depreciation and amortization 76    
Reclamation and Remediation 5    
Advanced Projects, Research and Development and Exploration 39    
Other segment expenses (income) 0    
Income (Loss) before Income and Mining Tax and Other Items 353    
Total Assets 927    
Capital Expenditures 58    
Operating Segments | Cerro Negro      
Segment Information      
Sales   566 510
Costs applicable to sales   312 328
Depreciation and amortization   123 137
Reclamation and Remediation   5 4
Advanced Projects, Research and Development and Exploration   19 10
Other segment expenses (income)   13 16
Income (Loss) before Income and Mining Tax and Other Items   94 15
Total Assets   1,787 1,646
Capital Expenditures   186 162
Operating Segments | Cerro Negro | Continuing Operations      
Segment Information      
Sales 691 566 510
Costs applicable to sales 312    
Depreciation and amortization 124    
Reclamation and Remediation 6    
Advanced Projects, Research and Development and Exploration 25    
Other segment expenses (income) 24    
Income (Loss) before Income and Mining Tax and Other Items 200    
Total Assets 1,868    
Capital Expenditures 150    
Operating Segments | Yanacocha      
Segment Information      
Sales   841 537
Costs applicable to sales   353 294
Depreciation and amortization   98 85
Reclamation and Remediation   55 1,232
Advanced Projects, Research and Development and Exploration   9 11
Other segment expenses (income)   2 (15)
Income (Loss) before Income and Mining Tax and Other Items   324 (1,070)
Total Assets   1,932 2,117
Capital Expenditures   61 312
Operating Segments | Yanacocha | Continuing Operations      
Segment Information      
Sales 1,804 841 537
Costs applicable to sales 411    
Depreciation and amortization 113    
Reclamation and Remediation (13)    
Advanced Projects, Research and Development and Exploration 12    
Other segment expenses (income) 784    
Income (Loss) before Income and Mining Tax and Other Items 497    
Total Assets 2,322    
Capital Expenditures 21    
Operating Segments | Peñasquito      
Segment Information      
Sales   2,322 901
Costs applicable to sales   1,128 809
Depreciation and amortization   476 351
Reclamation and Remediation   20 18
Advanced Projects, Research and Development and Exploration   13 11
Other segment expenses (income)   43 1,523
Income (Loss) before Income and Mining Tax and Other Items   642 (1,811)
Total Assets   4,879 4,738
Capital Expenditures   129 113
Operating Segments | Peñasquito | Gold      
Segment Information      
Sales   713 257
Costs applicable to sales   225 158
Depreciation and amortization   103 67
Operating Segments | Peñasquito | Silver      
Segment Information      
Sales   792 335
Costs applicable to sales   360 300
Depreciation and amortization   159 134
Operating Segments | Peñasquito | Lead      
Segment Information      
Sales   195 96
Costs applicable to sales   116 98
Depreciation and amortization   52 45
Operating Segments | Peñasquito | Zinc      
Segment Information      
Sales   622 213
Costs applicable to sales   427 253
Depreciation and amortization   162 105
Operating Segments | Peñasquito | Continuing Operations      
Segment Information      
Sales 3,419 2,322 901
Costs applicable to sales 1,262    
Depreciation and amortization 490    
Reclamation and Remediation 22    
Advanced Projects, Research and Development and Exploration 17    
Other segment expenses (income) 61    
Income (Loss) before Income and Mining Tax and Other Items 1,567    
Total Assets 4,744    
Capital Expenditures 123    
Operating Segments | Peñasquito | Continuing Operations | Gold      
Segment Information      
Sales 1,492    
Costs applicable to sales 389    
Depreciation and amortization 161    
Operating Segments | Peñasquito | Continuing Operations | Silver      
Segment Information      
Sales 1,080    
Costs applicable to sales 334    
Depreciation and amortization 131    
Operating Segments | Peñasquito | Continuing Operations | Lead      
Segment Information      
Sales 183    
Costs applicable to sales 116    
Depreciation and amortization 46    
Operating Segments | Peñasquito | Continuing Operations | Zinc      
Segment Information      
Sales 664    
Costs applicable to sales 423    
Depreciation and amortization 152    
Operating Segments | Red Chris      
Segment Information      
Sales   325 32
Costs applicable to sales   219 21
Depreciation and amortization   66 4
Reclamation and Remediation   7 0
Advanced Projects, Research and Development and Exploration   13 0
Other segment expenses (income)   (2) (1)
Income (Loss) before Income and Mining Tax and Other Items   22 8
Total Assets   2,580 2,178
Capital Expenditures   150 25
Operating Segments | Red Chris | Gold      
Segment Information      
Sales   96 9
Costs applicable to sales   47 4
Depreciation and amortization   14 1
Operating Segments | Red Chris | Copper      
Segment Information      
Sales   229 23
Costs applicable to sales   172 17
Depreciation and amortization   52 3
Operating Segments | Red Chris | Continuing Operations      
Segment Information      
Sales 513 325 32
Costs applicable to sales 251    
Depreciation and amortization 74    
Reclamation and Remediation 9    
Advanced Projects, Research and Development and Exploration 11    
Other segment expenses (income) 1    
Income (Loss) before Income and Mining Tax and Other Items 167    
Total Assets 2,668    
Capital Expenditures 157    
Operating Segments | Red Chris | Continuing Operations | Gold      
Segment Information      
Sales 218    
Costs applicable to sales 82    
Depreciation and amortization 24    
Operating Segments | Red Chris | Continuing Operations | Copper      
Segment Information      
Sales 295    
Costs applicable to sales 169    
Depreciation and amortization 50    
Operating Segments | Brucejack      
Segment Information      
Sales   610 72
Costs applicable to sales   312 69
Depreciation and amortization   172 22
Reclamation and Remediation   5 0
Advanced Projects, Research and Development and Exploration   13 7
Other segment expenses (income)   0 0
Income (Loss) before Income and Mining Tax and Other Items   108 (26)
Total Assets   2,660 4,006
Capital Expenditures   70 22
Operating Segments | Brucejack | Continuing Operations      
Segment Information      
Sales 824 610 72
Costs applicable to sales 344    
Depreciation and amortization 182    
Reclamation and Remediation 5    
Advanced Projects, Research and Development and Exploration 19    
Other segment expenses (income) 7    
Income (Loss) before Income and Mining Tax and Other Items 267    
Total Assets 2,630    
Capital Expenditures 104    
Operating Segments | NGM      
Segment Information      
Sales   2,485 2,271
Costs applicable to sales   1,263 1,249
Depreciation and amortization   428 452
Reclamation and Remediation   11 11
Advanced Projects, Research and Development and Exploration   23 29
Other segment expenses (income)   32 98
Income (Loss) before Income and Mining Tax and Other Items   728 432
Total Assets   7,430 7,401
Capital Expenditures   448 472
Operating Segments | NGM | Continuing Operations      
Segment Information      
Sales 3,560 2,485 2,271
Costs applicable to sales 1,343    
Depreciation and amortization 478    
Reclamation and Remediation 12    
Advanced Projects, Research and Development and Exploration 21    
Other segment expenses (income) 9    
Income (Loss) before Income and Mining Tax and Other Items 1,697    
Total Assets 7,486    
Capital Expenditures 387    
Operating Segments | CC&V      
Segment Information      
Sales   347 332
Costs applicable to sales   200 198
Depreciation and amortization   13 23
Reclamation and Remediation   11 12
Advanced Projects, Research and Development and Exploration   7 13
Other segment expenses (income)   19 4
Income (Loss) before Income and Mining Tax and Other Items   97 82
Total Assets   561 383
Capital Expenditures   26 64
Operating Segments | CC&V | Discontinued Operations      
Segment Information      
Sales 88 347 332
Costs applicable to sales 39    
Depreciation and amortization 2    
Reclamation and Remediation 2    
Advanced Projects, Research and Development and Exploration 0    
Other segment expenses (income) (3)    
Income (Loss) before Income and Mining Tax and Other Items 48    
Total Assets 0    
Capital Expenditures 5    
Operating Segments | Musselwhite      
Segment Information      
Sales   516 351
Costs applicable to sales   224 214
Depreciation and amortization   18 80
Reclamation and Remediation   3 3
Advanced Projects, Research and Development and Exploration   6 10
Other segment expenses (income)   0 298
Income (Loss) before Income and Mining Tax and Other Items   265 (254)
Total Assets   1,102 1,018
Capital Expenditures   97 104
Operating Segments | Musselwhite | Discontinued Operations      
Segment Information      
Sales 94 516 351
Costs applicable to sales 33    
Depreciation and amortization 0    
Reclamation and Remediation 1    
Advanced Projects, Research and Development and Exploration 0    
Other segment expenses (income) (18)    
Income (Loss) before Income and Mining Tax and Other Items 78    
Total Assets 0    
Capital Expenditures 14    
Operating Segments | Porcupine      
Segment Information      
Sales   673 503
Costs applicable to sales   310 301
Depreciation and amortization   36 117
Reclamation and Remediation   27 18
Advanced Projects, Research and Development and Exploration   6 17
Other segment expenses (income)   633 5
Income (Loss) before Income and Mining Tax and Other Items   (339) 45
Total Assets   1,172 1,473
Capital Expenditures   201 166
Operating Segments | Porcupine | Discontinued Operations      
Segment Information      
Sales 177 673 503
Costs applicable to sales 79    
Depreciation and amortization 1    
Reclamation and Remediation 6    
Advanced Projects, Research and Development and Exploration 1    
Other segment expenses (income) 20    
Income (Loss) before Income and Mining Tax and Other Items 70    
Total Assets 0    
Capital Expenditures 54    
Operating Segments | Éléonore      
Segment Information      
Sales   583 453
Costs applicable to sales   325 295
Depreciation and amortization   21 101
Reclamation and Remediation   4 3
Advanced Projects, Research and Development and Exploration   11 10
Other segment expenses (income)   (2) 247
Income (Loss) before Income and Mining Tax and Other Items   224 (203)
Total Assets   855 777
Capital Expenditures   100 106
Operating Segments | Éléonore | Discontinued Operations      
Segment Information      
Sales 138 583 453
Costs applicable to sales 54    
Depreciation and amortization 0    
Reclamation and Remediation 1    
Advanced Projects, Research and Development and Exploration 2    
Other segment expenses (income) (171)    
Income (Loss) before Income and Mining Tax and Other Items 252    
Total Assets 0    
Capital Expenditures 12    
Operating Segments | Akyem      
Segment Information      
Sales   495 574
Costs applicable to sales   338 275
Depreciation and amortization   57 122
Reclamation and Remediation   14 12
Advanced Projects, Research and Development and Exploration   5 19
Other segment expenses (income)   (5) (5)
Income (Loss) before Income and Mining Tax and Other Items   86 151
Total Assets   817 1,069
Capital Expenditures   24 40
Operating Segments | Akyem | Discontinued Operations      
Segment Information      
Sales 131 495 574
Costs applicable to sales 107    
Depreciation and amortization 3    
Reclamation and Remediation 5    
Advanced Projects, Research and Development and Exploration 0    
Other segment expenses (income) (683)    
Income (Loss) before Income and Mining Tax and Other Items 699    
Total Assets 0    
Capital Expenditures 9    
Operating Segments | Telfer      
Segment Information      
Sales   268 152
Costs applicable to sales   285 148
Depreciation and amortization   17 7
Reclamation and Remediation   13 1
Advanced Projects, Research and Development and Exploration   14 4
Other segment expenses (income)   158 2
Income (Loss) before Income and Mining Tax and Other Items   (219) (10)
Total Assets   0 574
Capital Expenditures   51 9
Operating Segments | Telfer | Gold      
Segment Information      
Sales   242 135
Costs applicable to sales   245 126
Depreciation and amortization   14 6
Operating Segments | Telfer | Copper      
Segment Information      
Sales   26 17
Costs applicable to sales   40 22
Depreciation and amortization   3 1
Operating Segments | Telfer | Discontinued Operations      
Segment Information      
Sales 0 268 152
Corporate and Other      
Segment Information      
Sales 0 0 0
Costs applicable to sales 0 0 0
Depreciation and amortization 74 68 41
Reclamation and Remediation 144 109 195
Advanced Projects, Research and Development and Exploration 169 195 221
Other segment expenses (income) (48) 967 893
Income (Loss) before Income and Mining Tax and Other Items (339) (1,339) (1,350)
Total Assets 13,999 9,717 9,844
Capital Expenditures $ 23 $ 22 $ 51
[1] Excludes Depreciation and amortization and Reclamation and remediation.
v3.25.4
SEGMENT INFORMATION - Long-lived Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 35,803 $ 40,602
Assets held for sale 0 4,609
Australia    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 10,393 9,490
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 6,566 7,125
Assets held for sale   434
Canada    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 4,625 8,358
Assets held for sale   3,723
Papua New Guinea    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 4,614 4,514
Mexico    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 3,606 3,822
Ghana    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 2,406 2,755
Assets held for sale   565
Argentina    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 1,604 1,582
Peru    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 1,269 2,203
Suriname    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 702 726
Other    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 18 $ 27
v3.25.4
SALES - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Sales $ 22,669 $ 18,682 $ 11,812
Gold Dore      
Disaggregation of Revenue [Line Items]      
Sales 14,330 12,312 8,781
Sales from Concentrate and Other Production      
Disaggregation of Revenue [Line Items]      
Sales 8,339 6,370 3,031
Operating Segments      
Disaggregation of Revenue [Line Items]      
Sales 22,041 18,414 11,812
Operating Segments | Lihir      
Disaggregation of Revenue [Line Items]      
Sales   1,473 266
Operating Segments | Lihir | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 1,983 1,473 266
Operating Segments | Cadia      
Disaggregation of Revenue [Line Items]      
Sales   1,861 422
Operating Segments | Cadia | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 2,294 1,861 422
Operating Segments | Cadia | Continuing Operations | Cadia - Gold      
Disaggregation of Revenue [Line Items]      
Sales 1,409 1,118 250
Operating Segments | Cadia | Continuing Operations | Cadia - Copper      
Disaggregation of Revenue [Line Items]      
Sales 885 743 172
Operating Segments | Tanami      
Disaggregation of Revenue [Line Items]      
Sales   988 867
Operating Segments | Tanami | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 1,353 988 867
Operating Segments | Boddington      
Disaggregation of Revenue [Line Items]      
Sales   1,746 1,814
Operating Segments | Boddington | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 2,246 1,746 1,814
Operating Segments | Boddington | Continuing Operations | Boddington - Gold      
Disaggregation of Revenue [Line Items]      
Sales 1,988 1,417 1,451
Operating Segments | Boddington | Continuing Operations | Boddington - Copper      
Disaggregation of Revenue [Line Items]      
Sales 258 329 363
Operating Segments | Ahafo | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 2,266 1,923 1,130
Operating Segments | Ahafo North      
Disaggregation of Revenue [Line Items]      
Sales   0 0
Operating Segments | Ahafo North | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 242 0 0
Operating Segments | Merian Gold Project      
Disaggregation of Revenue [Line Items]      
Sales   660 625
Operating Segments | Merian Gold Project | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 846 660 625
Operating Segments | Cerro Negro      
Disaggregation of Revenue [Line Items]      
Sales   566 510
Operating Segments | Cerro Negro | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 691 566 510
Operating Segments | Yanacocha      
Disaggregation of Revenue [Line Items]      
Sales   841 537
Operating Segments | Yanacocha | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 1,804 841 537
Operating Segments | Peñasquito      
Disaggregation of Revenue [Line Items]      
Sales   2,322 901
Operating Segments | Peñasquito | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 3,419 2,322 901
Operating Segments | Peñasquito | Continuing Operations | Penasquito - Gold      
Disaggregation of Revenue [Line Items]      
Sales 1,492 713 257
Operating Segments | Peñasquito | Continuing Operations | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales 1,080 792 335
Operating Segments | Peñasquito | Continuing Operations | Penasquito - Lead      
Disaggregation of Revenue [Line Items]      
Sales 183 195 96
Operating Segments | Peñasquito | Continuing Operations | Penasquito - Zinc      
Disaggregation of Revenue [Line Items]      
Sales 664 622 213
Operating Segments | Red Chris      
Disaggregation of Revenue [Line Items]      
Sales   325 32
Operating Segments | Red Chris | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 513 325 32
Operating Segments | Red Chris | Continuing Operations | Red Chris - Gold      
Disaggregation of Revenue [Line Items]      
Sales 218 96 9
Operating Segments | Red Chris | Continuing Operations | Red Chris - Copper      
Disaggregation of Revenue [Line Items]      
Sales 295 229 23
Operating Segments | Brucejack      
Disaggregation of Revenue [Line Items]      
Sales   610 72
Operating Segments | Brucejack | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 824 610 72
Operating Segments | NGM      
Disaggregation of Revenue [Line Items]      
Sales   2,485 2,271
Operating Segments | NGM | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 3,560 2,485 2,271
Operating Segments | CC&V      
Disaggregation of Revenue [Line Items]      
Sales   347 332
Operating Segments | CC&V | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 88 347 332
Operating Segments | Musselwhite      
Disaggregation of Revenue [Line Items]      
Sales   516 351
Operating Segments | Musselwhite | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 94 516 351
Operating Segments | Porcupine      
Disaggregation of Revenue [Line Items]      
Sales   673 503
Operating Segments | Porcupine | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 177 673 503
Operating Segments | Éléonore      
Disaggregation of Revenue [Line Items]      
Sales   583 453
Operating Segments | Éléonore | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 138 583 453
Operating Segments | Akyem      
Disaggregation of Revenue [Line Items]      
Sales   495 574
Operating Segments | Akyem | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 131 495 574
Operating Segments | Telfer      
Disaggregation of Revenue [Line Items]      
Sales   268 152
Operating Segments | Telfer | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 268 152
Operating Segments | Telfer | Discontinued Operations | Telfer - Gold      
Disaggregation of Revenue [Line Items]      
Sales 0 242 135
Operating Segments | Telfer | Discontinued Operations | Telfer - Copper      
Disaggregation of Revenue [Line Items]      
Sales 0 26 17
Operating Segments | Gold Dore | Lihir | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 1,983 1,473 266
Operating Segments | Gold Dore | Cadia | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 150 126 28
Operating Segments | Gold Dore | Cadia | Continuing Operations | Cadia - Gold      
Disaggregation of Revenue [Line Items]      
Sales 150 126 28
Operating Segments | Gold Dore | Cadia | Continuing Operations | Cadia - Copper      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Gold Dore | Tanami | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 1,353 988 867
Operating Segments | Gold Dore | Boddington | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 488 353 359
Operating Segments | Gold Dore | Boddington | Continuing Operations | Boddington - Gold      
Disaggregation of Revenue [Line Items]      
Sales 488 353 359
Operating Segments | Gold Dore | Boddington | Continuing Operations | Boddington - Copper      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Gold Dore | Ahafo | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 2,266 1,923 1,130
Operating Segments | Gold Dore | Ahafo North | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 242 0 0
Operating Segments | Gold Dore | Merian Gold Project | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 821 638 600
Operating Segments | Gold Dore | Cerro Negro | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 691 566 510
Operating Segments | Gold Dore | Yanacocha | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 1,781 833 526
Operating Segments | Gold Dore | Peñasquito | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 0 36
Operating Segments | Gold Dore | Peñasquito | Continuing Operations | Penasquito - Gold      
Disaggregation of Revenue [Line Items]      
Sales 0 0 36
Operating Segments | Gold Dore | Peñasquito | Continuing Operations | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Gold Dore | Peñasquito | Continuing Operations | Penasquito - Lead      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Gold Dore | Peñasquito | Continuing Operations | Penasquito - Zinc      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Gold Dore | Red Chris | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Gold Dore | Red Chris | Continuing Operations | Red Chris - Gold      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Gold Dore | Red Chris | Continuing Operations | Red Chris - Copper      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Gold Dore | Brucejack | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 540 415 48
Operating Segments | Gold Dore | NGM | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 3,387 2,336 2,178
Operating Segments | Gold Dore | CC&V | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 88 347 332
Operating Segments | Gold Dore | Musselwhite | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 94 516 351
Operating Segments | Gold Dore | Porcupine | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 177 673 503
Operating Segments | Gold Dore | Éléonore | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 138 583 453
Operating Segments | Gold Dore | Akyem | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 131 495 574
Operating Segments | Gold Dore | Telfer | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 47 20
Operating Segments | Gold Dore | Telfer | Discontinued Operations | Telfer - Gold      
Disaggregation of Revenue [Line Items]      
Sales 0 47 20
Operating Segments | Gold Dore | Telfer | Discontinued Operations | Telfer - Copper      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Sales from Concentrate and Other Production | Lihir | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Sales from Concentrate and Other Production | Cadia | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 2,144 1,735 394
Operating Segments | Sales from Concentrate and Other Production | Cadia | Continuing Operations | Cadia - Gold      
Disaggregation of Revenue [Line Items]      
Sales 1,259 992 222
Operating Segments | Sales from Concentrate and Other Production | Cadia | Continuing Operations | Cadia - Copper      
Disaggregation of Revenue [Line Items]      
Sales 885 743 172
Operating Segments | Sales from Concentrate and Other Production | Tanami | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Sales from Concentrate and Other Production | Boddington | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 1,758 1,393 1,455
Operating Segments | Sales from Concentrate and Other Production | Boddington | Continuing Operations | Boddington - Gold      
Disaggregation of Revenue [Line Items]      
Sales 1,500 1,064 1,092
Operating Segments | Sales from Concentrate and Other Production | Boddington | Continuing Operations | Boddington - Copper      
Disaggregation of Revenue [Line Items]      
Sales 258 329 363
Operating Segments | Sales from Concentrate and Other Production | Ahafo | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Sales from Concentrate and Other Production | Ahafo North | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Sales from Concentrate and Other Production | Merian Gold Project | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 25 22 25
Operating Segments | Sales from Concentrate and Other Production | Cerro Negro | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Sales from Concentrate and Other Production | Yanacocha | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 23 8 11
Operating Segments | Sales from Concentrate and Other Production | Peñasquito | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 3,419 2,322 865
Operating Segments | Sales from Concentrate and Other Production | Peñasquito | Continuing Operations | Penasquito - Gold      
Disaggregation of Revenue [Line Items]      
Sales 1,492 713 221
Operating Segments | Sales from Concentrate and Other Production | Peñasquito | Continuing Operations | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales 1,080 792 335
Operating Segments | Sales from Concentrate and Other Production | Peñasquito | Continuing Operations | Penasquito - Lead      
Disaggregation of Revenue [Line Items]      
Sales 183 195 96
Operating Segments | Sales from Concentrate and Other Production | Peñasquito | Continuing Operations | Penasquito - Zinc      
Disaggregation of Revenue [Line Items]      
Sales 664 622 213
Operating Segments | Sales from Concentrate and Other Production | Red Chris | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 513 325 32
Operating Segments | Sales from Concentrate and Other Production | Red Chris | Continuing Operations | Red Chris - Gold      
Disaggregation of Revenue [Line Items]      
Sales 218 96 9
Operating Segments | Sales from Concentrate and Other Production | Red Chris | Continuing Operations | Red Chris - Copper      
Disaggregation of Revenue [Line Items]      
Sales 295 229 23
Operating Segments | Sales from Concentrate and Other Production | Brucejack | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 284 195 24
Operating Segments | Sales from Concentrate and Other Production | NGM | Continuing Operations      
Disaggregation of Revenue [Line Items]      
Sales 173 149 93
Operating Segments | Sales from Concentrate and Other Production | CC&V | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Sales from Concentrate and Other Production | Musselwhite | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Sales from Concentrate and Other Production | Porcupine | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Sales from Concentrate and Other Production | Éléonore | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Sales from Concentrate and Other Production | Akyem | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 0 0
Operating Segments | Sales from Concentrate and Other Production | Telfer | Discontinued Operations      
Disaggregation of Revenue [Line Items]      
Sales 0 221 132
Operating Segments | Sales from Concentrate and Other Production | Telfer | Discontinued Operations | Telfer - Gold      
Disaggregation of Revenue [Line Items]      
Sales 0 195 115
Operating Segments | Sales from Concentrate and Other Production | Telfer | Discontinued Operations | Telfer - Copper      
Disaggregation of Revenue [Line Items]      
Sales 0 26 17
Operating Segments | Silver Streaming Agreement | Peñasquito | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales 84 91 42
Eliminations | NGM      
Disaggregation of Revenue [Line Items]      
Sales $ 3,410 $ 2,338 $ 2,174
v3.25.4
SALES - Trade Receivables and Provisional Sales (Details)
oz in Thousands, lb in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
lb
oz
$ / oz
$ / lb
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Revenue from Contract with Customer [Abstract]      
Increase (decrease) to sales from revenue recognized due to changes in final pricing | $ $ 572 $ 125 $ 37
Gold      
Disaggregation of Revenue [Line Items]      
Provisionally Priced Sales Subject to Final Pricing (in ounces or pounds) | oz 141    
Average Provisional Price (in dollars per ounce or pound) | $ / oz 4,332    
Copper      
Disaggregation of Revenue [Line Items]      
Provisionally Priced Sales Subject to Final Pricing (in ounces or pounds) | lb 66    
Average Provisional Price (in dollars per ounce or pound) | $ / lb 5.65    
Silver      
Disaggregation of Revenue [Line Items]      
Provisionally Priced Sales Subject to Final Pricing (in ounces or pounds) | oz 7,000    
Average Provisional Price (in dollars per ounce or pound) | $ / oz 70.31    
Lead      
Disaggregation of Revenue [Line Items]      
Provisionally Priced Sales Subject to Final Pricing (in ounces or pounds) | lb 48    
Average Provisional Price (in dollars per ounce or pound) | $ / lb 0.90    
Zinc      
Disaggregation of Revenue [Line Items]      
Provisionally Priced Sales Subject to Final Pricing (in ounces or pounds) | lb 84    
Average Provisional Price (in dollars per ounce or pound) | $ / lb 1.41    
v3.25.4
SALES - Silver Streaming Agreement (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Streaming agreement, percentage of sales 25.00%    
Inflation adjustment (as a percent) 1.65%    
Sales $ 22,669 $ 18,682 $ 11,812
Liability related to streaming agreement 691 775  
Operating Segments      
Disaggregation of Revenue [Line Items]      
Sales 22,041 18,414 11,812
Operating Segments | Peñasquito      
Disaggregation of Revenue [Line Items]      
Sales   2,322 901
Operating Segments | Silver Streaming Agreement | Peñasquito | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales $ 84 $ 91 $ 42
v3.25.4
SALES - Revenues by Geographic Area (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Sales $ 22,669 $ 18,682 $ 11,812
Operating Segments      
Disaggregation of Revenue [Line Items]      
Sales 22,041 18,414 11,812
Operating Segments | Peñasquito      
Disaggregation of Revenue [Line Items]      
Sales   2,322 901
Operating Segments | Silver Streaming Agreement | Peñasquito | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales 84 91 42
United Kingdom      
Disaggregation of Revenue [Line Items]      
Sales 13,068 10,966 7,637
South Korea      
Disaggregation of Revenue [Line Items]      
Sales 3,196 1,956 975
Japan      
Disaggregation of Revenue [Line Items]      
Sales 2,002 1,920 512
China      
Disaggregation of Revenue [Line Items]      
Sales 1,411 318 102
Australia      
Disaggregation of Revenue [Line Items]      
Sales 803 409 376
Mexico      
Disaggregation of Revenue [Line Items]      
Sales 639 600 240
Switzerland      
Disaggregation of Revenue [Line Items]      
Sales 89 638 600
Philippines      
Disaggregation of Revenue [Line Items]      
Sales 82 709 451
United States      
Disaggregation of Revenue [Line Items]      
Sales 0 2 48
Other      
Disaggregation of Revenue [Line Items]      
Sales $ 1,379 $ 1,164 $ 871
v3.25.4
SALES - Revenue by Major Customer (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Concentration Risk [Line Items]      
Sales $ 22,669 $ 18,682 $ 11,812
Revenue from Contract with Customer, Product and Service Benchmark | Standard Chartered | Customers | Gold      
Concentration Risk [Line Items]      
Sales $ 6,009 $ 4,833 $ 1,659
Concentration risk percentage (as a percent) 27.00% 26.00% 14.00%
Revenue from Contract with Customer, Product and Service Benchmark | JP Morgan Chase | Customers | Gold      
Concentration Risk [Line Items]      
Sales $ 2,499 $ 2,317 $ 2,583
Concentration risk percentage (as a percent) 11.00% 12.00% 22.00%
Revenue from Contract with Customer, Product and Service Benchmark | Royal Bank of Canada | Customers | Gold      
Concentration Risk [Line Items]      
Sales   $ 1,897 $ 1,765
Concentration risk percentage (as a percent)   10.00% 15.00%
Revenue from Contract with Customer, Product and Service Benchmark | Toronto Dominion Bank | Customers | Gold      
Concentration Risk [Line Items]      
Sales     $ 1,630
Concentration risk percentage (as a percent)     14.00%
v3.25.4
RECLAMATION AND REMEDIATION - Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reclamation and remediation      
Reclamation accretion $ 307 $ 365  
Remediation accretion 7 7  
Reclamation and remediation [1] 8,085 8,963 $ 6,699
Reclamation and remediation      
Reclamation and remediation      
Reclamation adjustments and other (172) (108) 1,207
Reclamation accretion 307 365 238
Reclamation expense 135 257 1,445
Remediation adjustments and other 107 64 81
Remediation accretion 7 7 7
Remediation expense 114 71 88
Reclamation and remediation $ 249 $ 328 $ 1,533
[1] Excludes Depreciation and amortization and Reclamation and remediation.
v3.25.4
RECLAMATION AND REMEDIATION - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
mine_portal
Dec. 31, 2023
USD ($)
Reclamation and remediation      
Number of mine portals closed | mine_portal   3  
Other non-current assets      
Reclamation and remediation      
Asset retirement obligation restricted assets $ 33,000,000 $ 29,000,000  
Other non-current assets | Equity Securities      
Reclamation and remediation      
Asset retirement obligation restricted assets 13,000,000 15,000,000  
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program      
Reclamation and remediation      
Restricted cash and restricted cash equivalents $ 0 93,000,000  
Maximum      
Reclamation and remediation      
Loss accrual possible shortfall (as a percent) 50.00%    
Minimum      
Reclamation and remediation      
Loss accrual possible shortfall (as a percent) (10.00%)    
Yanacocha      
Reclamation and remediation      
Reclamation adjustments and other $ (192,000,000) $ (136,000,000) $ 1,101,000,000
v3.25.4
RECLAMATION AND REMEDIATION - Reconciliation of Obligation (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Reclamation      
Balance at beginning of period   $ 7,015 $ 8,385
Additions, changes in estimates and other   223 41
Acquisitions and divestitures   (13) 71
Payments, net   (732) (351)
Accretion expense   307 365
Reclassification to Liabilities held for sale     (1,496)
Balance at end of period $ 7,015 6,800 7,015
Remediation      
Balance at beginning of period   370 401
Additions, changes in estimates and other   84 44
Acquisitions and divestitures   0 0
Payments, net   (71) (82)
Accretion expense   7 7
Reclassification to Liabilities held for sale     0
Balance at end of period 370 390 370
Total      
Balance at beginning of period   7,385 8,786
Additions, changes in estimates and other   307 85
Acquisitions and divestitures   (13) 71
Payments, net   (803) (433)
Accretion expense   314 372
Reclassification to Liabilities held for sale     (1,496)
Balance at end of period $ 7,385 $ 7,190 $ 7,385
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Current Other Liabilities, Current Other Liabilities, Current
Telfer      
Reclamation      
Acquisitions and divestitures $ 278    
Newcrest Mining Limited      
Reclamation      
Acquisitions and divestitures     $ 349
Minera Yanacocha      
Reclamation      
Balance at beginning of period   $ 4,546  
Balance at end of period $ 4,546 $ 3,906 $ 4,546
v3.25.4
RECLAMATION AND REMEDIATION - Liability Classifications (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Environmental Exit Cost [Line Items]      
Reclamation liabilities, current $ 829 $ 928  
Reclamation liabilities, non-current 5,971 6,087  
Total reclamation liabilities 6,800 7,015 $ 8,385
Remediation liabilities, current 64 63  
Remediation liabilities, non-current 326 307  
Total remediation liabilities 390 370 401
Reclamation and remediation liabilities, current 893 991  
Reclamation and remediation liabilities, non-current 6,297 6,394  
Reclamation and remediation liabilities 7,190 7,385 $ 8,786
Minera Yanacocha      
Environmental Exit Cost [Line Items]      
Total reclamation liabilities $ 3,906 $ 4,546  
v3.25.4
IMPAIRMENT CHARGES - Schedule of Impairment of Long-Lived Assets and Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Impairment of long-lived and other assets      
Long-lived and other assets $ 842 $ 78 $ 131
Goodwill     1,760
Total 842 78 1,891
Operating Segments | Yanacocha      
Impairment of long-lived and other assets      
Long-lived and other assets 770 2 0
Goodwill     0
Total     0
Operating Segments | NGM      
Impairment of long-lived and other assets      
Long-lived and other assets 4 25 75
Goodwill     11
Total     86
Operating Segments | Peñasquito      
Impairment of long-lived and other assets      
Long-lived and other assets 1 19 21
Goodwill     1,210
Total     1,231
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment      
Impairment of long-lived and other assets      
Long-lived and other assets $ 67 $ 32 35
Goodwill     539
Total     $ 574
v3.25.4
IMPAIRMENT CHARGES - Additional Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
$ / oz
Impairment of long-lived and other assets      
Impairment charges $ 842 $ 78 $ 131
Property, plant and mine development, net 33,310 33,547  
Goodwill     $ 1,760
Measurement Input, Short-Term Gold Price | Valuation, Income Approach      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input | $ / oz     1,950
Measurement Input, Long-Term Gold Price | Valuation, Income Approach      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input | $ / oz     1,700
Musselwhite | Discount rate | Valuation, Income Approach      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input     0.1000
Éléonore | Discount rate | Valuation, Income Approach      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input     0.1750
Peñasquito | Discount rate | Valuation, Income Approach      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input     0.0675
Operating Segments | Musselwhite      
Impairment of long-lived and other assets      
Goodwill     $ 293
Operating Segments | Éléonore      
Impairment of long-lived and other assets      
Goodwill     246
Operating Segments | Peñasquito      
Impairment of long-lived and other assets      
Impairment charges 1 19 21
Goodwill     1,210
Operating Segments | NGM      
Impairment of long-lived and other assets      
Impairment charges 4 25 75
Property, plant and mine development, net   2 22
Goodwill     11
Operating Segments | Yanacocha      
Impairment of long-lived and other assets      
Impairment charges 770 $ 2 0
Property, plant and mine development, net $ 78    
Goodwill     $ 0
v3.25.4
OTHER EXPENSE, NET (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Income And Expense [Line Items]      
Restructuring and severance $ 186 $ 38 $ 24
Settlement costs 2 44 7
Other 98 37 22
Other expense, net 286 191 517
Newcrest Mining Limited      
Other Income And Expense [Line Items]      
Newcrest transaction and integration costs $ 0 $ 72 $ 464
v3.25.4
OTHER INCOME (LOSS), NET - Components of Other (Loss), Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]      
Interest income $ 214 $ 152 $ 148
Foreign currency exchange (137) 101 (56)
(Loss) gain on debt extinguishment (101) $ 32 0
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]   Other income (loss), net  
(Loss) gain on asset and investment sales (20) $ 35 (197)
Pension settlements and curtailments 0 (1) (9)
Other 50 44 73
Other income (loss), net $ 6 $ 363 (41)
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Pyrite Leach Plant      
Schedule of Equity Method Investments [Line Items]      
(Loss) gain on asset and investment sales     $ (235)
v3.25.4
INCOME AND MINING TAXES - Tax benefit (expense) - Current vs Deferred (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current:      
Current: United States $ (157) $ (93) $ (20)
Current: Foreign (3,048) (1,224) (610)
Current income taxes (3,205) (1,317) (630)
Deferred:      
Deferred: United States (96) (157) 62
Deferred: Foreign (1,295) 77 42
Deferred income taxes (1,391) (80) 104
Income and mining tax benefit (expense) $ (4,596) $ (1,397) $ (526)
v3.25.4
INCOME AND MINING TAXES - Domestic Vs Foreign (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income (loss) before income and mining tax and other items      
United States $ 1,527 $ 536 $ 111
Foreign 9,815 4,041 (2,142)
​Income (loss) before income and mining tax and other items $ 11,342 $ 4,577 $ (2,031)
v3.25.4
INCOME AND MINING TAXES - Rate Reconciliation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]        
Income (loss) before income and mining tax and other items   $ 11,342 $ 4,577 $ (2,031)
Reconciling item, percentage        
U.S. Federal statutory tax rate   21.00% 21.00% 21.00%
Tax Credits   0.00% (1.00%) 1.00%
Percentage depletion   (1.00%) (1.00%) 4.00%
Other nontaxable and nondeductible items   1.00% 0.00% (1.00%)
Cross-border tax laws   0.00% 0.00% 0.00%
Impact of Transactions   (2.00%) 3.00% 0.00%
Impact of Foreign Tax Credit and U.S. Capital Losses Expiration   0.00% 0.00% (10.00%)
Worldwide changes in unrecognized tax benefits   0.00% (1.00%) 1.00%
Income and mining tax benefit (expense)   40.00% 31.00% (26.00%)
Reconciling item, amount        
U.S. Federal statutory tax rate   $ (2,382) $ (961) $ 427
Tax Credits   0 37 19
Percentage depletion   83 63 72
Other nontaxable and nondeductible items   (76) (3) (14)
Cross-border tax laws   (17) (21) (10)
Impact of Transactions   (278) 157 0
Impact of Foreign Tax Credit and U.S. Capital Losses Expiration   0 0 (195)
Worldwide changes in unrecognized tax benefits   (1) 63 28
Income and mining tax benefit (expense)   $ (4,596) $ (1,397) $ (526)
United States        
Reconciling item, percentage        
Domestic state and local income taxes, net of federal income tax effect   1.00% 1.00% (1.00%)
Changes in valuation allowance   0.00% (1.00%) 9.00%
Other   0.00% 1.00% 0.00%
Reconciling item, amount        
Domestic state and local income taxes, net of federal income tax effect   $ (78) $ (35) $ (25)
Changes in valuation allowance   18 34 192
Other   $ 9 $ (53) $ 0
Argentina        
Reconciling item, percentage        
Changes in valuation allowance   0.00% (2.00%) (3.00%)
Other   0.00% 1.00% 0.00%
Tax impact of foreign exchange   (1.00%) 2.00% 2.00%
Reconciling item, amount        
Changes in valuation allowance   $ (28) $ 94 $ (56)
Other   (15) (36) 7
Tax impact of foreign exchange   $ 65 $ (93) $ 34
Australia        
Reconciling item, percentage        
Changes in valuation allowance   (1.00%) 1.00% 1.00%
Other   0.00% (1.00%) 0.00%
Northern Territory Mineral Royalty   1.00% 2.00% (3.00%)
Rate differential for foreign earnings indefinitely reinvested   4.00% 3.00% (10.00%)
Reconciling item, amount        
Changes in valuation allowance   $ 60 $ (24) $ 30
Other   (19) 30 (4)
Northern Territory Mineral Royalty   (127) (79) (62)
Rate differential for foreign earnings indefinitely reinvested   $ (304) $ (157) $ (195)
Canada        
Reconciling item, percentage        
Domestic state and local income taxes, net of federal income tax effect   0.00% 2.00% 0.00%
Changes in valuation allowance   1.00% (4.00%) (1.00%)
Other   1.00% (1.00%) 0.00%
Tax impact of foreign exchange   0.00% (2.00%) (2.00%)
Rate differential for foreign earnings indefinitely reinvested   0.00% 0.00% 1.00%
Goodwill impairment   0.00% 0.00% (7.00%)
Reconciling item, amount        
Domestic state and local income taxes, net of federal income tax effect   $ (46) $ (92) $ (2)
Changes in valuation allowance   (69) 182 (26)
Other   (91) 39 0
Tax impact of foreign exchange   (25) 73 (36)
Rate differential for foreign earnings indefinitely reinvested   (51) 9 27
Goodwill impairment   $ 0 $ 0 $ (135)
Ghana        
Reconciling item, percentage        
Other   1.00% 1.00% (1.00%)
Rate differential for foreign earnings indefinitely reinvested   1.00% 3.00% (3.00%)
Transactions   1.00% 0.00% 0.00%
Permanent Assertion Removal   1.00% 0.00% 0.00%
Reconciling item, amount        
Other   $ (74) $ (27) $ (11)
Rate differential for foreign earnings indefinitely reinvested   (158) (115) (55)
Transactions   (168) 0 0
Permanent Assertion Removal   $ (165) $ 0 $ 0
Ghana | Ahafo        
Reconciling item, amount        
Tax expense, change in enacted tax rate $ 20      
Mexico        
Reconciling item, percentage        
Changes in valuation allowance   1.00% 0.00% (2.00%)
Other   0.00% 1.00% 1.00%
Tax impact of foreign exchange   0.00% (1.00%) 0.00%
Rate differential for foreign earnings indefinitely reinvested   1.00% 1.00% 8.00%
Goodwill impairment   0.00% 0.00% (18.00%)
Mining Tax   1.00% 0.00% 0.00%
Prior period adjustment   0.00% 0.00% (1.00%)
Reconciling item, amount        
Changes in valuation allowance   $ (57) $ 18 $ (34)
Other   (10) (37) (11)
Tax impact of foreign exchange   52 57 (1)
Rate differential for foreign earnings indefinitely reinvested   (135) (54) 162
Mining Tax   (126) (12) 8
Goodwill impairment   0 0 (363)
Prior period adjustment   $ 0 $ 0 $ (27)
PNG        
Reconciling item, percentage        
Other   1.00% 1.00% 0.00%
Permanent Assertion Removal   4.00% 0.00% 0.00%
Reconciling item, amount        
Other   $ (134) $ (48) $ (8)
Permanent Assertion Removal   $ (384) $ 0 $ 0
Peru        
Reconciling item, percentage        
Changes in valuation allowance   2.00% 0.00% (16.00%)
Other   1.00% 1.00% 0.00%
Rate differential for foreign earnings indefinitely reinvested   0.00% 1.00% 4.00%
Reconciling item, amount        
Changes in valuation allowance   $ (282) $ 13 $ (329)
Other   (64) (37) (4)
Rate differential for foreign earnings indefinitely reinvested   $ (40) $ (30) $ 91
Other        
Reconciling item, percentage        
Other   0.00% 0.00% 0.00%
Rate differential for foreign earnings indefinitely reinvested   0.00% 0.00% 0.00%
Reconciling item, amount        
Other   $ (35) $ (39) $ (22)
Rate differential for foreign earnings indefinitely reinvested   $ 0 $ 1 $ 2
v3.25.4
INCOME AND MINING TAXES - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]      
Expiration of capital loss carryforwards $ 0 $ 222 $ 0
Expiration of foreign tax credits   0 193
Valuation allowance 295    
Operating loss carryforwards 1,524 2,005  
Tax credit carryforwards 563 414  
Operating loss carryforwards not subject to expiration 429 760  
Unrecognized tax benefits affecting effective tax rate 128 125 190
Unrecognized tax benefits, interest and penalties 55 47  
Interest and penalties for unrecognized tax benefits accrued (released) during the period 8 31 $ (1)
Canada      
Effective Income Tax Rate Reconciliation [Line Items]      
Operating loss carryforwards subject to expiration 577    
Other      
Effective Income Tax Rate Reconciliation [Line Items]      
Operating loss carryforwards subject to expiration 331    
Mexico      
Effective Income Tax Rate Reconciliation [Line Items]      
Operating loss carryforwards subject to expiration 187    
Ghana      
Effective Income Tax Rate Reconciliation [Line Items]      
Undistributed earnings 165    
PNG      
Effective Income Tax Rate Reconciliation [Line Items]      
Undistributed earnings 384    
United States      
Effective Income Tax Rate Reconciliation [Line Items]      
Tax credit carryforwards 369 337  
Investment Tax Credit Carryforward | Canada      
Effective Income Tax Rate Reconciliation [Line Items]      
Tax credit carryforwards 194 $ 77  
Tax credit carryforward, subject to expiration 93    
Solar Tax Credits | United States      
Effective Income Tax Rate Reconciliation [Line Items]      
Tax credit carryforward, subject to expiration $ 28    
v3.25.4
INCOME AND MINING TAXES - Components of Deferred Tax Assets (Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred income tax assets:    
Property, plant and mine development $ 1,257 $ 887
Inventory 100 132
Reclamation and remediation 2,246 2,077
Net operating losses, capital losses and tax credits  2,217 2,297
Employee-related benefits 50 24
Derivative instruments and unrealized loss on investments 10 79
Foreign exchange and financing obligations 90 58
Silver streaming agreement 203 253
Other 546 555
Deferred tax assets gross 6,719 6,362
Valuation allowances (4,782) (4,363)
Deferred tax assets net 1,937 1,999
Deferred income tax liabilities:    
Property, plant and mine development (4,320) (3,749)
Inventory (228) (132)
Investment in partnerships and subsidiaries  (1,192) (582)
Other (197) (232)
Deferred tax liabilities (5,937) (4,695)
Net deferred income tax assets (liabilities) $ (4,000) $ (2,696)
v3.25.4
INCOME AND MINING TAXES - Taxes Paid, Net of Refunds (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]      
Federal $ 17 $ 1 $ (1)
State 50 40 19
Foreign:      
Total 2,458 966 794
Australia      
Foreign:      
Total Foreign 737 341 414
Canada      
Foreign:      
Total Foreign   64  
Ghana      
Foreign:      
Total Foreign 675 418 223
Mexico      
Foreign:      
Total Foreign 315   93
PNG      
Foreign:      
Total Foreign 158    
Peru      
Foreign:      
Total Foreign 341    
Other      
Foreign:      
Total Foreign $ 165 $ 102 $ 46
v3.25.4
INCOME AND MINING TAXES - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation Of Unrecognized Tax Benefits      
Total amount of gross unrecognized tax benefits at beginning of year $ 111 $ 144 $ 190
Additions for tax positions of prior years 10   13
Reductions for tax positions of prior years   (8)  
Additions for tax positions of current year  0 0 2
Reductions due to settlements with taxing authorities  (12) (2) (18)
Reductions due to lapse of statute of limitations  (5) (23) (43)
Total amount of gross unrecognized tax benefits at end of year $ 104 $ 111 $ 144
v3.25.4
EMPLOYEE-RELATED BENEFITS - Current and Long-Term Employee-Related Benefits (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current:    
Accrued payroll and withholding taxes  $ 534 $ 461
Workers’ participation and other bonuses 288 108
Accrued severance 38 19
Other post-retirement benefit plans 12 11
Employee pension benefits  2 5
Other employee-related payables  24 26
Employee-related benefits, current 898 630
Non-current:    
Accrued severance 466 386
Other post-retirement benefit plans  58 55
Employee pension benefits  33 29
Other employee-related payables  77 85
Employee-related benefits, non-current $ 634 $ 555
v3.25.4
EMPLOYEE-RELATED BENEFITS - Benefit Obligations and Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension and other post-retirement costs, net      
Other non-current assets $ 1,446 $ 1,008  
Employee-related benefits, current (898) (630)  
Employee-related benefits, non-current (634) (555)  
Pension Benefits      
Pension and other post-retirement costs, net      
Projected benefit obligation 272 313 $ 325
Service cost  12 14 12
Interest cost  16 17 17
Actuarial loss (gain) 6 (14)  
Foreign currency exchange loss (gain) 1 (6)  
Benefits paid (26) (20)  
Curtailment gain (6) 0  
Settlement payments (5) (3)  
Divestitures (39) 0  
Accumulated benefit obligation 253 294  
Fair value of plan assets 282 313 322
Actual return on plan assets 33 11  
Foreign currency exchange loss 0 (4)  
Employer contributions 6 7  
Benefits paid (26) (20)  
Settlement payments (5) (3)  
Divestitures (39) 0  
(Unfunded) funded status, net: 10 0  
Other non-current assets 45 37  
Employee-related benefits, current (2) (5)  
Employee-related benefits, non-current (33) (32)  
Pension Benefits | Discontinued Operations, Held-for-Sale | Portfolio Optimization Program | Porcupine      
Pension and other post-retirement costs, net      
Non-current assets transferred to held for sale 0 4  
Non-current liabilities transferred to held for sale 0 (3)  
Other Benefits      
Pension and other post-retirement costs, net      
Projected benefit obligation 63 60 71
Service cost  1 1 1
Interest cost  4 4 4
Actuarial loss (gain) 12 (10)  
Foreign currency exchange loss (gain) 1 (2)  
Benefits paid (15) (4)  
Curtailment gain 0 0  
Settlement payments 0 0  
Divestitures 0 0  
Accumulated benefit obligation 63 60  
Fair value of plan assets 0 0 $ 0
Actual return on plan assets 0 0  
Foreign currency exchange loss 0 0  
Employer contributions 15 4  
Benefits paid (15) (4)  
Settlement payments 0 0  
Divestitures 0 0  
(Unfunded) funded status, net: (63) (60)  
Other non-current assets 0 0  
Employee-related benefits, current (5) (5)  
Employee-related benefits, non-current $ (58) $ (55)  
v3.25.4
EMPLOYEE-RELATED BENEFITS - Benefit Obligations and Assets in Excess of Plan Amounts (Details) - Pension Benefits - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension and other post-retirement costs, net      
Projected benefit obligation $ 272 $ 313 $ 325
Accumulated benefit obligation 253 294  
Fair value of plan assets 282 313 $ 322
Unfunded Plan      
Pension and other post-retirement costs, net      
Projected benefit obligation 37 39  
Accumulated benefit obligation 28 32  
Fair value of plan assets $ 1 $ 2  
v3.25.4
EMPLOYEE-RELATED BENEFITS - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
plan
United States | Qualified Plan  
Pension and other post-retirement costs, net  
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%
United States | Non-qualified plan  
Pension and other post-retirement costs, net  
Number of plans 1
Other Benefits  
Pension and other post-retirement costs, net  
Defined benefit plan, health care cost trend rate assumed, next fiscal year 6.75%
Defined benefit plan, ultimate health care cost trend rate 5.00%
v3.25.4
EMPLOYEE-RELATED BENEFITS - Net Pension and Other Benefit Amounts Recognized in OCI (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Pension Benefits    
Accumulated other comprehensive income (loss):    
Net actuarial (loss) gain $ (57) $ (71)
Prior service credit 2 2
Accumulated other comprehensive income (loss) before tax (55) (69)
Less: Income taxes 13 15
Total (42) (54)
Other Benefits    
Accumulated other comprehensive income (loss):    
Net actuarial (loss) gain 29 33
Prior service credit 0 0
Accumulated other comprehensive income (loss) before tax 29 33
Less: Income taxes (6) (7)
Total $ 23 $ 26
v3.25.4
EMPLOYEE-RELATED BENEFITS - Net Periodic Pension Costs and Components Recognized in OCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension benefit cost (income), net      
Settlement cost $ 0 $ 1 $ 9
Pension Benefits      
Pension benefit cost (income), net      
Service cost  12 14 12
Interest cost  16 17 17
Expected return on plan assets  (20) (24) (23)
Amortization, net 3 1 (7)
Net periodic benefit cost (income) 11 8 (1)
Settlement cost 1 1 9
Gain on curtailment (1) 0 0
Total benefit cost 11 9 8
Other Benefits      
Pension benefit cost (income), net      
Service cost  1 1 1
Interest cost  4 4 4
Expected return on plan assets  0 0 0
Amortization, net 8 (2) (2)
Net periodic benefit cost (income) 13 3 3
Settlement cost 0 0 0
Gain on curtailment 0 0 0
Total benefit cost $ 13 $ 3 $ 3
v3.25.4
EMPLOYEE-RELATED BENEFITS - Significant Assumptions (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension Benefits      
Pension and other post-retirement costs, net      
Benefit obligation, discount rate (as a percent) 5.98% 5.77% 5.33%
Net periodic benefit cost, discount rate (as a percent) 5.77% 5.33% 5.63%
Expected return on plan assets 7.20% 7.09% 6.38%
Other Benefits      
Pension and other post-retirement costs, net      
Benefit obligation, discount rate (as a percent) 6.48% 6.54% 6.09%
Net periodic benefit cost, discount rate (as a percent) 6.54% 6.09% 6.10%
v3.25.4
EMPLOYEE-RELATED BENEFITS - Fair Value of Plan Assets (Details) - Pension Benefits - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension and other post-retirement costs, net      
Fair value of assets $ 282 $ 313 $ 322
Comingled Funds      
Pension and other post-retirement costs, net      
Fair value of assets $ 281 312  
Fixed income investments      
Pension and other post-retirement costs, net      
Target​ Allocation 45.00%    
Fair value of assets $ 123 143  
World equity fund (U.S. and International equity investments)      
Pension and other post-retirement costs, net      
Target​ Allocation 20.00%    
Fair value of assets $ 55 54  
International equity investments      
Pension and other post-retirement costs, net      
Target​ Allocation 12.00%    
Fair value of assets $ 34 45  
U.S. equity investments      
Pension and other post-retirement costs, net      
Target​ Allocation 11.00%    
Fair value of assets $ 33 34  
Real estate      
Pension and other post-retirement costs, net      
Target​ Allocation 8.00%    
Fair value of assets $ 25 25  
High yield fixed income investments      
Pension and other post-retirement costs, net      
Target​ Allocation 4.00%    
Fair value of assets $ 11 11  
Cash equivalents      
Pension and other post-retirement costs, net      
Target​ Allocation 0.00%    
Fair value of assets $ 1 $ 1  
v3.25.4
EMPLOYEE-RELATED BENEFITS - Expected Future Benefit Payments (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Pension Benefits  
Pension and other post-retirement costs, net  
2026 $ 15
2027 16
2028 19
2029 20
2030 19
Thereafter 114
Other Benefits  
Pension and other post-retirement costs, net  
2026 6
2027 6
2028 6
2029 5
2030 5
Thereafter $ 27
v3.25.4
STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Feb. 28, 2018
Jan. 31, 2018
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stock-based compensation          
Shares authorized for future stock incentive plan awards (in shares)     18,214,007    
Stock-based compensation expense     $ 99 $ 89 $ 80
Unrecognized compensation costs     $ 92    
Unrecognized compensation cost expected to be recognized on a weighted-average basis, period (in years)     2 years    
Restricted Stock Units (RSUs)          
Stock-based compensation          
Stock award vesting period (in years)   3 years      
Number of shares issuable per vested unit (in shares) 1        
Total intrinsic value     $ 68 37 36
Other Awards          
Stock-based compensation          
Stock-based compensation expense     20 6 4
Performance Shares          
Stock-based compensation          
Stock award vesting period (in years)   3 years      
Total intrinsic value     $ 0 $ 6 $ 35
v3.25.4
STOCK-BASED COMPENSATION - Activity (Details)
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
RSU  
Number of Shares  
Non-vested at beginning of year (in shares) | shares 3,278,470
Granted (in shares) | shares 1,782,952
Vested (in shares) | shares (1,453,507)
Forfeited (in shares) | shares (674,378)
Non-vested at end of year (in shares) | shares 2,933,537
Weighted Average Grant-Date Fair Value  
Nonvested at beginning of year (in dollars per share) | $ / shares $ 36.13
Granted (in dollars per share) | $ / shares 46.11
Vested (in dollars per share) | $ / shares 39.88
Forfeited (in dollars per share) | $ / shares 38.04
Nonvested at end of year (in dollars per share) | $ / shares $ 39.90
PSU  
Number of Shares  
Non-vested at beginning of year (in shares) | shares 1,641,713
Granted (in shares) | shares 419,290
Vested (in shares) | shares 0
Forfeited (in shares) | shares (332,854)
Non-vested at end of year (in shares) | shares 1,728,149
Weighted Average Grant-Date Fair Value  
Nonvested at beginning of year (in dollars per share) | $ / shares $ 44.58
Granted (in dollars per share) | $ / shares 31.24
Vested (in dollars per share) | $ / shares 0
Forfeited (in dollars per share) | $ / shares 41.35
Nonvested at end of year (in dollars per share) | $ / shares $ 41.96
v3.25.4
STOCK-BASED COMPENSATION - Compensation Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation expense $ 99 $ 89 $ 80
Other Awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation expense $ 20 $ 6 $ 4
v3.25.4
FAIR VALUE ACCOUNTING - Recurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Carrying value    
Liabilities:    
Debt $ 5,115 $ 8,476
Level 3    
Assets:    
Assets held for sale   672
Recurring    
Assets:    
Cash and cash equivalents 7,647 3,619
Restricted cash 37 31
Trade receivables from provisional concentrate sales 1,064 993
Assets held for sale 78 1,840
Equity method investments   212
Marketable equity and other securities 740 305
Restricted marketable debt and other securities 13 15
Derivative assets 262 142
Total assets 9,841 7,157
Liabilities:    
Debt 5,283 8,400
Derivative liabilities 1 143
Other liabilities 339 51
Total liabilities 5,623 8,594
Recurring | Discontinued Operations, Held-for-Sale | Portfolio Optimization Program    
Assets:    
Assets held for sale   679
Recurring | Level 1    
Assets:    
Cash and cash equivalents 7,647 3,619
Restricted cash 37 31
Trade receivables from provisional concentrate sales 0 0
Assets held for sale 0 0
Equity method investments   212
Marketable equity and other securities 740 305
Restricted marketable debt and other securities 13 15
Derivative assets 0 0
Total assets 8,437 4,182
Liabilities:    
Debt 0 0
Derivative liabilities 0 0
Other liabilities 0 0
Total liabilities 0 0
Recurring | Level 2    
Assets:    
Cash and cash equivalents 0 0
Restricted cash 0 0
Trade receivables from provisional concentrate sales 1,064 993
Assets held for sale 0 1,168
Equity method investments   0
Marketable equity and other securities 0 0
Restricted marketable debt and other securities 0 0
Derivative assets 60 0
Total assets 1,124 2,161
Liabilities:    
Debt 5,283 8,400
Derivative liabilities 1 137
Other liabilities 339 51
Total liabilities 5,623 8,588
Recurring | Level 3    
Assets:    
Cash and cash equivalents 0 0
Restricted cash 0 0
Trade receivables from provisional concentrate sales 0 0
Assets held for sale 78 672
Equity method investments   0
Marketable equity and other securities 0 0
Restricted marketable debt and other securities 0 0
Derivative assets 202 142
Total assets 280 814
Liabilities:    
Debt 0 0
Derivative liabilities 0 6
Other liabilities 0 0
Total liabilities $ 0 $ 6
v3.25.4
FAIR VALUE ACCOUNTING - Additional Information (Details) - asset
 1 Months Ended 12 Months Ended
Feb. 29, 2024
Dec. 31, 2024
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program    
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Number of non-core assets to be divested 6 6
v3.25.4
FAIR VALUE ACCOUNTING - Quantitative Information (Details)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Long-lived assets $ 35,803,000,000 $ 40,602,000,000
Non-current derivative assets 175,000,000 $ 142,000,000
Discount rate | Valuation, Income Approach | Discontinued Operations, Held-for-Sale | Portfolio Optimization Program    
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Assets held for sale, measurement input (as a percent)   0.0975
Measurement Input, Long-Term Gold Price | Valuation, Income Approach | Discontinued Operations, Held-for-Sale | Portfolio Optimization Program    
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Assets held for sale, measurement input, amount   $ 1,900
Designated Hedge | Operating cash flow hedges | Cadia PPA cash flow hedge    
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Derivative liabilities   1,000,000
Non-current derivative assets 155,000,000 95,000,000
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Long-lived assets 78,000,000  
Assets held for sale   672,000,000
Contingent consideration assets $ 40,000,000 47,000,000
Derivative liabilities   $ 5,000,000
Level 3 | Minimum | Discount rate | Valuation, Income Approach    
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Contingent consideration asset, measurement input (as a percent)   0.0637
Derivative liabilities, measurement input (as a percent)   0.0522
Level 3 | Maximum | Discount rate | Valuation, Income Approach    
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Contingent consideration asset, measurement input (as a percent) 4,254 0.1638
Derivative liabilities, measurement input (as a percent)   0.0595
Level 3 | Weighted Average | Discount rate | Valuation, Income Approach    
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Assets held for sale, measurement input (as a percent)   0.0975
Contingent consideration asset, measurement input (as a percent) 0 0.1067
Derivative liabilities, measurement input (as a percent)   0.0566
Level 3 | Designated Hedge    
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Derivative asset $ 162,000,000 $ 94,000,000
Level 3 | Designated Hedge | Minimum | Measurement Input, Commodity Forward Price | Valuation, Income Approach    
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Derivative asset, measurement input (as a percent) 37 43
Level 3 | Designated Hedge | Maximum | Measurement Input, Commodity Forward Price | Valuation, Income Approach    
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Derivative asset, measurement input (as a percent) 703 321
Level 3 | Designated Hedge | Weighted Average | Measurement Input, Commodity Forward Price | Valuation, Income Approach    
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Derivative asset, measurement input (as a percent) 0.0700 0.0675
v3.25.4
FAIR VALUE ACCOUNTING - Changes in the Fair Value of Level 3 Financial Assets and Liabilities (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Nov. 06, 2023
Summary of changes in Level 3 financial assets      
Fair value, beginning of period $ 142 $ 635  
Sales and settlements   (377)  
Acquired through divestments 14    
Transfers out of Level 3 $ (47) (76)  
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] Other comprehensive income (loss)    
Fair value changes in Other comprehensive income (loss) $ 67 $ (53)  
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Change in fair value of investments and options Change in fair value of investments and options  
Fair value changes in Change in fair value of investments and options $ 26 $ 2  
Fair value changes in Net income (loss) from discontinued operations   11  
Fair value, end of period 202 142  
Summary of changes in Level 3 financial liabilities      
Fair value, beginning of period 6 5  
Sales   0  
Transfers out of Level 3 (5) 0  
Fair value changes in Other comprehensive income (loss) (1) 1  
Fair value changes in Change in fair value of investments and options 0 0  
Fair value changes in Net income (loss) from discontinued operations   0  
Acquired through divestments 0    
Fair value, end of period $ 0 6  
Lundin Gold, Inc.      
Summary of changes in Level 3 financial liabilities      
Ownership interest (as a percent) 32.00%   32.00%
Contingent Consideration Liability      
Summary of changes in Level 3 financial liabilities      
Fair value, beginning of period $ 6 5  
Sales   0  
Transfers out of Level 3 (5) 0  
Fair value, end of period 0 6  
Contingent Consideration Assets      
Summary of changes in Level 3 financial assets      
Fair value, beginning of period 142 635  
Sales and settlements   (377)  
Transfers out of Level 3 (47) (76)  
Fair value, end of period $ 202 $ 142  
v3.25.4
DERIVATIVE INSTRUMENTS - Schedule of Derivatives (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Derivative contracts    
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Other current assets Other current assets
Current derivative assets $ 87 $ 0
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other non-current assets Other non-current assets
Non-current derivative assets $ 175 $ 142
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Current Other Liabilities, Current
Current derivative liabilities $ 1 $ 138
Non-current derivative liabilities 0 5
Designated Hedge | Operating cash flow hedges    
Derivative contracts    
Current derivative assets 67 0
Current derivative liabilities 1 136
Foreign currency cash flow hedges | Designated Hedge | Operating cash flow hedges    
Derivative contracts    
Current derivative assets 60 0
Current derivative liabilities 1 135
Cadia PPA cash flow hedge | Designated Hedge | Operating cash flow hedges    
Derivative contracts    
Current derivative assets 7 0
Non-current derivative assets 155 95
Current derivative liabilities 0 1
Contingent Consideration Derivative | Not Designated as Hedging Instrument    
Derivative contracts    
Current derivative assets 20 0
Non-current derivative assets 20 47
Current derivative liabilities 0 2
Non-current derivative liabilities $ 0 $ 5
v3.25.4
DERIVATIVE INSTRUMENTS - Schedule of Foreign Currency Cash Flow Hedges (Details)
$ in Millions, $ in Millions, $ in Millions
Dec. 31, 2025
AUD ($)
Dec. 31, 2025
CAD ($)
Dec. 31, 2025
USD ($)
Oct. 31, 2022
AUD ($)
Derivative contracts        
Derivative notional amount       $ 574
Cash flow hedge gain (loss) in AOCI     $ 7  
AUD-Denominated Capital Expenditure Program | Operating cash flow hedges | Designated Hedge        
Derivative contracts        
Derivative notional amount $ 1,734      
AUD-Denominated Operating Expenditure Program | Operating cash flow hedges | Designated Hedge        
Derivative contracts        
Derivative notional amount $ 4,002      
CAD-Denominated Operating Expenditure Program | Operating cash flow hedges | Designated Hedge        
Derivative contracts        
Derivative notional amount   $ 1,088    
v3.25.4
DERIVATIVE INSTRUMENTS - Additional Information (Details)
$ in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Jan. 01, 2024
Sep. 30, 2024
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Nov. 06, 2023
Oct. 31, 2022
AUD ($)
Derivative contracts                
Derivative notional amount               $ 574
Gain (loss) on derivatives       $ (94) $ (22) $ (24)    
Cadia PPA cash flow hedge                
Derivative contracts                
Derivative, term (in years)       15 years        
Gain (loss) on derivatives       $ (7) $ (5) $ 0    
Cadia PPA cash flow hedge | Not Designated as Hedging Instrument                
Derivative contracts                
Derivative, term (in years) 15 years              
Derivative, forecasted purchases, percent 0.40              
Stream Credit Facility Agreement | Not Designated as Hedging Instrument                
Derivative contracts                
Derivative notional amount     $ 330          
Proceeds from settlement of SCFA   $ 150 180          
Gain (loss) on derivatives     $ 49          
Lundin Gold, Inc.                
Derivative contracts                
Ownership interest (as a percent)       32.00%     32.00%  
v3.25.4
DERIVATIVE INSTRUMENTS - Fair Values of Instruments Designated as Hedges (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Derivative contracts    
Current derivative assets $ 87 $ 0
Derivative assets (Note 14) 175 142
Current derivative liabilities 1 138
Non-current derivative liabilities 0 5
Operating cash flow hedges | Designated Hedge    
Derivative contracts    
Current derivative assets 67 0
Current derivative liabilities 1 136
Foreign currency cash flow hedges | Operating cash flow hedges | Designated Hedge    
Derivative contracts    
Current derivative assets 60 0
Current derivative liabilities 1 135
Cadia PPA cash flow hedge | Operating cash flow hedges | Designated Hedge    
Derivative contracts    
Current derivative assets 7 0
Derivative assets (Note 14) 155 95
Current derivative liabilities $ 0 1
Derivative liabilities   $ 1
v3.25.4
DERIVATIVE INSTRUMENTS - Gain (Loss) on Derivatives (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative contracts      
Loss (gain) on derivatives $ 94 $ 22 $ 24
Interest rate contracts      
Derivative contracts      
Loss (gain) on derivatives $ 57 10 5
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense)    
Gain (loss) to be reclassified within 12 months $ (3)    
Foreign currency cash flow hedges      
Derivative contracts      
Loss (gain) on derivatives $ 30 7 19
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Costs applicable to sales    
Gain (loss) to be reclassified within 12 months $ 45    
Cadia PPA cash flow hedge      
Derivative contracts      
Loss (gain) on derivatives 7 $ 5 $ 0
Gain (loss) to be reclassified within 12 months $ (10)    
Derivative, term (in years) 15 years    
v3.25.4
INVESTMENTS - Schedule of Investments (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Jun. 30, 2025
Dec. 31, 2024
Nov. 06, 2023
Investments        
Total equity method investments $ 4,186   $ 4,471  
Pueblo Viejo Mine        
Investments        
Ownership interest (as a percent) 40.00%      
Nueva Union Project        
Investments        
Ownership interest (as a percent) 50.00%      
Lundin Gold, Inc.        
Investments        
Ownership interest (as a percent) 32.00%     32.00%
Norte Abierto Project        
Investments        
Ownership interest (as a percent) 50.00%      
Greatland        
Investments        
Ownership interest (as a percent)     20.00%  
Greatland Resources Limited        
Investments        
Ownership interest (as a percent) 10.00% 10.00%    
Investments - current        
Investments        
Marketable equity securities $ 594   $ 21  
Investments - noncurrent        
Investments        
Marketable equity and other securities 171   309  
Equity method investments 4,015   4,162  
Total equity method investments 4,186   4,471  
Equity securities without readily determinable fair value, amount 25   25  
Investments - noncurrent | Pueblo Viejo Mine        
Investments        
Equity method investments 1,584   1,516  
Investments - noncurrent | Nueva Union Project        
Investments        
Equity method investments 973   961  
Investments - noncurrent | Lundin Gold, Inc.        
Investments        
Equity method investments 905   941  
Investments - noncurrent | Norte Abierto Project        
Investments        
Equity method investments 553   532  
Investments - noncurrent | Greatland        
Investments        
Equity method investments $ 0   $ 212  
v3.25.4
INVESTMENTS - Schedule of Equity Method Investments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Nov. 06, 2023
Investments        
Equity income (loss) of affiliates $ 421 $ 133 $ 63  
Pueblo Viejo Mine        
Investments        
Ownership interest (as a percent) 40.00%      
Equity income (loss) of affiliates $ 245 91 63  
Lundin Gold, Inc.        
Investments        
Ownership interest (as a percent) 32.00%     32.00%
Equity income (loss) of affiliates $ 169 45 0  
Other        
Investments        
Equity income (loss) of affiliates $ 7 $ (3) $ 0  
v3.25.4
INVESTMENTS - Additional Information (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Nov. 30, 2020
Dec. 31, 2025
Dec. 31, 2024
Oct. 31, 2024
Nov. 06, 2023
Investments          
Percentage of gold purchased from investment         50.00%
Pueblo Viejo Mine | Related Party          
Investments          
Other liabilities   $ 0 $ 0    
Other receivables   0 0    
Lundin Gold, Inc. | Related Party          
Investments          
Other liabilities   0 0    
Pueblo Viejo Mine          
Investments          
Amount by which investment carrying value is lower than underlying net assets   $ 290      
Agreed funding to equity method investment, including other owner's amount $ 1,300     $ 800  
Agreed funding to equity method investment $ 520     $ 320  
Ownership interest (as a percent)   40.00%      
Base rate, as a percentage of SOFR (as a percent) 95.00%        
Margin added to base rate (as a percent) 4.25%     3.81%  
Share of loans included in investment   $ 518 486    
Interest receivable   60 19    
Purchases   934 580    
Pueblo Viejo Mine | Investment Tranche One          
Investments          
Agreed funding to equity method investment, including other owner's amount $ 800        
Pueblo Viejo Mine | Investment Tranche Two          
Investments          
Agreed funding to equity method investment, including other owner's amount $ 500        
Nueva Union Project          
Investments          
Amount by which investment carrying value is lower than underlying net assets   $ 67      
Ownership interest (as a percent)   50.00%      
Lundin Gold, Inc.          
Investments          
Amount by which investment carrying value is lower than underlying net assets   $ 536      
Ownership interest (as a percent)   32.00%     32.00%
Purchases     $ 189    
Equity method investments   $ 6,404      
Norte Abierto Project          
Investments          
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          
Investments          
Ownership interest (as a percent)   50.00%      
v3.25.4
INVENTORIES - Summary of Inventories (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Inventory, net    
Materials and supplies $ 1,060 $ 1,081
In-process 199 118
Concentrate 162 148
Precious metals 91 76
Inventories 1,512 1,423
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program    
Inventory, net    
Disposal group, including discontinued operation, inventory, other than stockpiles and ore on leach pads $ 0 $ 185
v3.25.4
INVENTORIES - Components of Costs Applicable to Sales (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
INVENTORIES      
Inventory write-down $ 3 $ 49 $ 52
Costs applicable to sales      
INVENTORIES      
Inventory write-down 2 44 37
Depreciation and amortization      
INVENTORIES      
Inventory write-down $ 1 $ 5 $ 15
v3.25.4
STOCKPILES AND ORE ON LEACH PADS - Summary (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Stockpiles And Ore On Leach Pads    
Current $ 1,177 $ 761
Non-current 2,410 2,266
Total 3,587 3,027
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program    
Stockpiles And Ore On Leach Pads    
Disposal group, including discontinued operation, stockpiles and ore on leach pads 0 374
Stockpiles    
Stockpiles And Ore On Leach Pads    
Current 893 624
Non-current 2,284 2,072
Total 3,177 2,696
Ore on Leach Pads    
Stockpiles And Ore On Leach Pads    
Current 284 137
Non-current 126 194
Total $ 410 $ 331
v3.25.4
STOCKPILES AND ORE ON LEACH PADS - Write-downs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads $ 3 $ 49 $ 52
Costs applicable to sales      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 2 44 37
Depreciation and amortization      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 1 5 15
Stockpiles and ore on leach pads      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 35 64 75
Stockpiles and ore on leach pads | Costs applicable to sales      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 25 48 60
Stockpiles and ore on leach pads | Depreciation and amortization      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads $ 10 $ 16 $ 15
v3.25.4
PROPERTY, PLANT AND MINE DEVELOPMENT (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment    
Cost, including finance lease right of use assets $ 53,537 $ 52,410
Accumulated depreciation, including finance lease right of use assets (20,227) (18,863)
Net Book Value, including finance lease right of use assets 33,310 33,547
Finance lease right of use assets 432 482
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program    
Property, Plant and Equipment    
Property, plant and mine development, net 0 4,439
Land     
Property, Plant and Equipment    
Cost 297 253
Net Book Value 297 253
Facilities and equipment    
Property, Plant and Equipment    
Cost, including finance lease right of use assets 24,337 23,362
Accumulated depreciation, including finance lease right of use assets (12,424) (11,761)
Net Book Value, including finance lease right of use assets $ 11,913 11,601
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) 32 years  
Mine development     
Property, Plant and Equipment    
Cost $ 7,329 6,562
Accumulated depreciation (3,440) (3,533)
Net Book Value $ 3,889 3,029
Mine development  | Minimum    
Property, Plant and Equipment    
Depreciable Life (in years) 1 year  
Mine development  | Maximum    
Property, Plant and Equipment    
Depreciable Life (in years) 32 years  
Mineral interests     
Property, Plant and Equipment    
Cost $ 16,997 17,050
Accumulated depreciation (4,363) (3,569)
Net Book Value 12,634 13,481
Mineral interests, Cost 16,997 17,050
Mineral interests Accumulated Depreciation (4,363) (3,569)
Mineral interests Net Book Value $ 12,634 13,481
Mineral interests  | Discontinued Operations, Held-for-Sale | Portfolio Optimization Program    
Property, Plant and Equipment    
Property, plant and mine development, net   1,885
Mineral interests  | Minimum    
Property, Plant and Equipment    
Depreciable Life (in years) 1 year  
Mineral interests  | Maximum    
Property, Plant and Equipment    
Depreciable Life (in years) 32 years  
Construction-in-progress     
Property, Plant and Equipment    
Cost $ 4,577 5,183
Net Book Value 4,577 5,183
Production stage     
Property, Plant and Equipment    
Mineral interests, Cost 12,343 12,191
Mineral interests Accumulated Depreciation (4,363) (3,569)
Mineral interests Net Book Value $ 7,980 8,622
Production stage  | Minimum    
Property, Plant and Equipment    
Depreciable Life (in years) 1 year  
Production stage  | Maximum    
Property, Plant and Equipment    
Depreciable Life (in years) 32 years  
Development stage     
Property, Plant and Equipment    
Mineral interests, Cost $ 1,329 1,386
Mineral interests Net Book Value 1,329 1,386
Exploration stage     
Property, Plant and Equipment    
Mineral interests, Cost 3,325 3,473
Mineral interests Net Book Value $ 3,325 $ 3,473
v3.25.4
GOODWILL (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2025
Goodwill [Roll Forward]    
Goodwill, beginning balance $ 3,001  
Acquisitions (343)  
Goodwill, ending balance 2,658  
Goodwill 2,658 $ 2,658
Lihir    
Goodwill [Roll Forward]    
Goodwill, beginning balance 695  
Acquisitions 249  
Goodwill, ending balance 944  
Goodwill 944 944
Cadia    
Goodwill [Roll Forward]    
Goodwill, beginning balance 565  
Acquisitions (316)  
Goodwill, ending balance 249  
Goodwill 249 249
Red Chris    
Goodwill [Roll Forward]    
Goodwill, beginning balance 397  
Acquisitions 142  
Goodwill, ending balance 539  
Goodwill 539 539
Brucejack    
Goodwill [Roll Forward]    
Goodwill, beginning balance 1,087  
Acquisitions (418)  
Goodwill, ending balance 669  
Goodwill 669 669
NGM    
Goodwill [Roll Forward]    
Goodwill, beginning balance 257  
Acquisitions 0  
Goodwill, ending balance 257  
Goodwill $ 257 $ 257
v3.25.4
DEBT - Long-term Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Mar. 07, 2024
Debt      
Current $ 0 $ 924  
Non-Current 5,115 7,552  
Fair Value 5,283 8,400  
Debt issuance costs on Corporate Revolving Credit Facilities $ (3) (5)  
2026 Senior Notes | Senior Notes      
Debt      
Debt instrument, interest rate (as a percent) 5.30%   5.30%
Current   924  
Non-Current $ 0 0  
Fair Value $ 0 948  
October 2029 Senior Notes | Senior Notes      
Debt      
Debt instrument, interest rate (as a percent) 2.80%    
Current   0  
Non-Current $ 265 633  
Fair Value $ 257 587  
May 2030 Senior Notes | Senior Notes      
Debt      
Debt instrument, interest rate (as a percent) 3.25%    
Current   0  
Non-Current $ 379 554  
Fair Value $ 411 583  
October 2030 Senior Notes | Senior Notes      
Debt      
Debt instrument, interest rate (as a percent) 2.25%    
Current   0  
Non-Current $ 246 872  
Fair Value $ 230 765  
July 2032 Senior Notes | Senior Notes      
Debt      
Debt instrument, interest rate (as a percent) 2.60%    
Current   0  
Non-Current $ 785 821  
Fair Value $ 728 713  
March 2034 Senior Notes | Senior Notes      
Debt      
Debt instrument, interest rate (as a percent) 5.35%    
Current   0  
Non-Current $ 987 987  
Fair Value $ 1,061 1,012  
April 2035 Senior Notes | Senior Notes      
Debt      
Debt instrument, interest rate (as a percent) 5.875%    
Current   0  
Non-Current $ 502 581  
Fair Value $ 567 625  
October 2039 Senior Notes | Senior Notes      
Debt      
Debt instrument, interest rate (as a percent) 6.25%    
Current   0  
Non-Current $ 275 861  
Fair Value $ 308 934  
November 2041 Senior Notes | Senior Notes      
Debt      
Debt instrument, interest rate (as a percent) 5.75%    
Current   0  
Non-Current $ 292 457  
Fair Value $ 326 500  
March 2042 Senior Notes | Senior Notes      
Debt      
Debt instrument, interest rate (as a percent) 4.875%    
Current   0  
Non-Current $ 562 949  
Fair Value $ 553 891  
June 2044 Senior Notes | Senior Notes      
Debt      
Debt instrument, interest rate (as a percent) 5.45%    
Current   0  
Non-Current $ 460 479  
Fair Value $ 433 435  
May 2050 Senior Notes | Senior Notes      
Debt      
Debt instrument, interest rate (as a percent) 4.20%    
Current   0  
Non-Current $ 365 363  
Fair Value $ 409 $ 407  
v3.25.4
DEBT - Maturities of long term debt (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Scheduled minimum debt repayments  
2026 $ 0
2027 0
2028 0
2029 267
2030 671
Thereafter 4,405
Total face value of debt 5,343
Unamortized premiums, discounts, and issuance costs (228)
Net carrying amount $ 5,115
v3.25.4
DEBT - Corporate Revolving Credit Facilities and Letters of Credit Facilities (Details) - USD ($)
$ in Millions
Feb. 20, 2024
Dec. 31, 2025
Dec. 31, 2024
Feb. 15, 2024
Dec. 31, 2023
Nov. 06, 2023
Apr. 04, 2019
Debt Instrument [Line Items]              
Current   $ 0 $ 924        
Letters of credit outstanding   1,139 1,034        
Letters of credit, guarantees for reclamation obligations   1,005 900        
Bilateral Bank Debt Facilities              
Debt Instrument [Line Items]              
Line of credit facility maximum borrowing capacity           $ 2,000  
Current         $ 1,923    
Repayment of debt $ 1,461            
Corporate Revolving Credit Facility              
Debt Instrument [Line Items]              
Line of credit facility maximum borrowing capacity       $ 4,000     $ 3,000
Credit facility, amount outstanding   0          
Corporate Revolving Credit Facility | Letter of Credit              
Debt Instrument [Line Items]              
Letters of credit outstanding   $ 0 $ 0        
v3.25.4
DEBT - Senior Notes (Details) - Senior Notes - USD ($)
$ in Millions
Mar. 07, 2024
Dec. 31, 2025
March 2024 Senior Notes    
Debt Instrument [Line Items]    
Debt instrument principal amount $ 2,000  
Proceeds from issuance of senior notes 1,980  
2026 Senior Notes    
Debt Instrument [Line Items]    
Debt instrument principal amount $ 1,000  
Debt instrument, interest rate (as a percent) 5.30% 5.30%
March 2034 Senior Notes    
Debt Instrument [Line Items]    
Debt instrument principal amount   $ 1,000
Debt instrument, interest rate (as a percent)   5.35%
v3.25.4
DEBT - Debt Extinguishment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]      
Loss (gain) on debt extinguishment $ (101) $ 32 $ 0
Senior Notes      
Debt Instrument [Line Items]      
Settled Principal Amount 3,448 483  
Debt instrument, extinguished amount, interest 51 4  
Loss (gain) on debt extinguishment (101) 32  
Other comprehensive income (loss), gain (loss) reclassified, before tax $ (54) $ (6)  
v3.25.4
DEBT - Schedule of Debt, Redemptions (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Mar. 07, 2024
Senior Notes Net Of Discount 2026        
Debt Instrument [Line Items]        
Make-whole provision $ 10      
Senior Notes        
Debt Instrument [Line Items]        
Settled Principal Amount   $ 3,448 $ 483  
Total Repurchase Amount   3,478 441  
Debt instrument, extinguished amount, interest   $ 51 4  
Senior Notes | 2026 Senior Notes        
Debt Instrument [Line Items]        
Debt instrument principal amount       $ 1,000
Debt instrument, interest rate (as a percent)   5.30%   5.30%
Settled Principal Amount   $ 928 72  
Total Repurchase Amount   $ 957 74  
Senior Notes | October 2029 Senior Notes        
Debt Instrument [Line Items]        
Debt instrument, interest rate (as a percent)   2.80%    
Settled Principal Amount   $ 371 62  
Total Repurchase Amount   $ 357 58  
Senior Notes | May 2030 Senior Notes        
Debt Instrument [Line Items]        
Debt instrument, interest rate (as a percent)   3.25%    
Settled Principal Amount   $ 210 17  
Total Repurchase Amount   $ 202 16  
Senior Notes | October 2030 Senior Notes        
Debt Instrument [Line Items]        
Debt instrument, interest rate (as a percent)   2.25%    
Settled Principal Amount   $ 631 120  
Total Repurchase Amount   $ 583 107  
Senior Notes | July 2032 Senior Notes        
Debt Instrument [Line Items]        
Debt instrument, interest rate (as a percent)   2.60%    
Settled Principal Amount   $ 38 174  
Total Repurchase Amount   32 150  
Senior Notes | March 2034 Senior Notes        
Debt Instrument [Line Items]        
Debt instrument principal amount   $ 1,000    
Debt instrument, interest rate (as a percent)   5.35%    
Settled Principal Amount   $ 1 0  
Total Repurchase Amount   $ 1 0  
Senior Notes | Senior Notes due April 2035        
Debt Instrument [Line Items]        
Debt instrument, interest rate (as a percent)   5.875%    
Settled Principal Amount   $ 83 0  
Total Repurchase Amount   $ 87 0  
Senior Notes | October 2039 Senior Notes        
Debt Instrument [Line Items]        
Debt instrument, interest rate (as a percent)   6.25%    
Settled Principal Amount   $ 595 0  
Total Repurchase Amount   $ 666 0  
Senior Notes | November 2041 Senior Notes        
Debt Instrument [Line Items]        
Debt instrument, interest rate (as a percent)   5.75%    
Settled Principal Amount   $ 182 0  
Total Repurchase Amount   $ 192 0  
Senior Notes | March 2042 Senior Notes        
Debt Instrument [Line Items]        
Debt instrument, interest rate (as a percent)   4.875%    
Settled Principal Amount   $ 392 38  
Total Repurchase Amount   $ 384 36  
Senior Notes | June 2044 Senior Notes        
Debt Instrument [Line Items]        
Debt instrument, interest rate (as a percent)   5.45%    
Settled Principal Amount   $ 17 0  
Total Repurchase Amount   $ 17 $ 0  
v3.25.4
DEBT - Debt Covenants (Details)
Dec. 31, 2025
Corporate Revolving Credit Facility  
Debt Instrument [Line Items]  
Debt to capitalization ratio, maximum allowed under covenant (as a percent) 0.6250
v3.25.4
LEASE AND OTHER FINANCING OBLIGATIONS - Additional information (Details)
 12 Months Ended
Dec. 31, 2025
Lessee, Lease, Description [Line Items]  
Renewal term (in years) 15 years
Termination period (in years) 1 year
Minimum  
Lessee, Lease, Description [Line Items]  
Remaining lease term (in years) 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Remaining lease term (in years) 32 years
v3.25.4
LEASE AND OTHER FINANCING OBLIGATIONS - Components of Lease Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating lease cost $ 26 $ 27
Amortization of ROU assets 93 91
Interest on lease liabilities 30 35
Finance lease cost, total 123 126
Variable lease cost 302 509
Short-term lease cost 84 76
Lease cost, Total $ 535 $ 738
v3.25.4
LEASE AND OTHER FINANCING OBLIGATIONS - Supplemental Cash Flows (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows relating to operating leases $ 24 $ 20  
Operating cash flows relating to finance leases 30 34  
Financing cash flows relating to finance leases 95 87 $ 67
Non-cash lease obligations arising from obtaining ROU assets      
Operating leases 45 10  
Finance leases $ 54 $ 59  
v3.25.4
LEASE AND OTHER FINANCING OBLIGATIONS - Schedule of lease terms and discount rates (Details)
Dec. 31, 2025
Weighted average remaining lease term (years)  
Operating leases, weighted average remaining lease term (in years) 6 years
Finance leases, weighted average remaining lease term (in years) 8 years
Weighted average discount rate  
Operating leases, weighted average discount rate (as a percent) 4.39%
Finance leases, weighted average discount rate (as a percent) 6.16%
v3.25.4
LEASE AND OTHER FINANCING OBLIGATIONS - Maturities (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Operating Leases  
2026 $ 33
2027 21
2028 15
2029 15
2030 13
Thereafter 26
Total future minimum lease payments 123
Less: Imputed interest (14)
Operating lease liability $ 109
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Current, Other non-current liabilities ($51 valued under fair value option at December 31, 2024) (Note 22)
Finance Leases  
2026 $ 119
2027 88
2028 78
2029 53
2030 45
Thereafter 225
Total future minimum lease payments 608
Less: Imputed interest (134)
Finance lease liability $ 474
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] Lease and other financing obligations (Note 21), Lease and other financing obligations (Note 21)
v3.25.4
OTHER LIABILITIES (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other current liabilities:        
Reclamation and remediation liabilities   $ 893 $ 991  
Accrued operating costs   421 468  
Greatland option, current portion   339 0  
Accrued capital expenditures   254 208  
Accrued royalties   181 165  
Silver streaming agreement   93 76  
Accrued interest   57 97  
Hedging instruments   1 136  
Other   226 225  
Other current liabilities   2,692 2,481  
Other non-current liabilities:        
Income and mining taxes   133 125  
Indemnification liabilities   63 17  
Other   126 146  
Other long-term liabilities, total   322 288  
Payments for other investing activities   145 (44) $ (22)
Indemnification liabilities   63 17  
Worsley JV        
Other non-current liabilities:        
Payments for other investing activities $ 116      
NGM        
Other current liabilities:        
Payables to NGM   $ 227 $ 115  
NGM        
Other non-current liabilities:        
Ownership interest (as a percent)   38.50%    
NGM | Barrick Gold Corporation        
Other non-current liabilities:        
Ownership interest (as a percent)   61.50% 61.50%  
Norte Abierto Project        
Other non-current liabilities:        
Ownership interest (as a percent)   50.00%    
Norte Abierto Project | Barrick Gold Corporation        
Other non-current liabilities:        
Ownership interest (as a percent)   50.00%    
v3.25.4
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​​ - Components of AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Balance at beginning of period $ 30,109 $ 29,205 $ 19,533
Gain (loss) in other comprehensive income (loss) before reclassifications 131 (127)  
Loss (gain) reclassified from accumulated other comprehensive income (loss) 101 18  
Other comprehensive income (loss) 232 (109) (15)
Balance at end of period 34,042 30,109 29,205
Total      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Balance at beginning of period (95) 14  
Balance at end of period 137 (95) 14
Unrealized Gain (Loss) on Hedge Instruments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Balance at beginning of period (193) (70)  
Gain (loss) in other comprehensive income (loss) before reclassifications 140 (140)  
Loss (gain) reclassified from accumulated other comprehensive income (loss) 94 17  
Other comprehensive income (loss) 234 (123)  
Balance at end of period 41 (193) (70)
Other Adjustments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Balance at beginning of period 98 84  
Gain (loss) in other comprehensive income (loss) before reclassifications (9) 13  
Loss (gain) reclassified from accumulated other comprehensive income (loss) 7 1  
Other comprehensive income (loss) (2) 14  
Balance at end of period $ 96 $ 98 $ 84
v3.25.4
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​ - Reclassifications (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Interest expense, net of capitalized interest $ 229 $ 375 $ 243
Costs applicable to sales [1] 8,085 8,963 6,699
Other income (loss), net (6) (363) 41
Divestitures 1,066 (1,114) 0
Total before tax (11,342) (4,577) 2,031
Tax (4,596) (1,397) (526)
Net of tax (7,167) (3,381) 2,467
Reclassification Out of Accumulated Other Comprehensive Income      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Net of tax 101 18 18
Reclassification Out of Accumulated Other Comprehensive Income | Unrealized Gain (Loss) on Hedge Instruments      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Total before tax 126 22 24
Tax (32) (5) (6)
Net of tax 94 17 18
Reclassification Out of Accumulated Other Comprehensive Income | Other adjustments:      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Other income (loss), net 11 0 0
Divestitures (3) 0 0
Total before tax 8 1 0
Tax (1) 0 0
Net of tax 7 1 0
Reclassification Out of Accumulated Other Comprehensive Income | Other      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Other income (loss), net 0 1 0
Interest rate contracts | Reclassification Out of Accumulated Other Comprehensive Income | Unrealized Gain (Loss) on Hedge Instruments      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Interest expense, net of capitalized interest 72 10 5
Foreign currency cash flow hedges | Reclassification Out of Accumulated Other Comprehensive Income | Unrealized Gain (Loss) on Hedge Instruments      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Costs applicable to sales 44 7 19
Amortization | Reclassification Out of Accumulated Other Comprehensive Income | Unrealized Gain (Loss) on Hedge Instruments      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Costs applicable to sales $ 10 $ 5 $ 0
[1] Excludes Depreciation and amortization and Reclamation and remediation.
v3.25.4
COMMITMENTS AND CONTINGENCIES - Environmental Matters (Details)
$ in Millions
 1 Months Ended 12 Months Ended
Dec. 19, 2025
USD ($)
Oct. 31, 2022
claim
Dec. 31, 2025
USD ($)
plant
Feb. 28, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Site Contingency [Line Items]              
Number of operating water treatment plants | plant     5        
Number of water treatment plants to be constructed | plant     2        
Total remediation liabilities     $ 390   $ 370 $ 401  
Discontinued Operations, Disposed of by Sale | CC&V              
Site Contingency [Line Items]              
Indemnification cost threshold       $ 500      
Indemnification coverage, percent       90.00%      
CC&V              
Site Contingency [Line Items]              
Total remediation liabilities             $ 20
Midnite mine and Dawn mill sites              
Site Contingency [Line Items]              
Total remediation liabilities     $ 164        
Percent of remediation obligation assumed     100.00%        
Cadia              
Site Contingency [Line Items]              
Number of alleged regulatory violations | claim   2          
Cadia | NSW Department Of Climate Change, Energy, The Environment And Water              
Site Contingency [Line Items]              
Litigation settlement $ 1            
Cadia | NSW EPA              
Site Contingency [Line Items]              
Litigation settlement $ 1            
Minera Yanacocha              
Site Contingency [Line Items]              
Economic interest (as a percent)     100.00%        
CC&V              
Site Contingency [Line Items]              
Economic interest (as a percent)     100.00%        
Dawn Mining Company              
Site Contingency [Line Items]              
Economic interest (as a percent)     58.19%        
Cadia              
Site Contingency [Line Items]              
Economic interest (as a percent)     100.00%        
v3.25.4
COMMITMENTS AND CONTINGENCIES - Other Legal Matters (Details)
$ in Millions
 1 Months Ended 3 Months Ended 12 Months Ended
Aug. 16, 2021
USD ($)
Dec. 24, 2018
plaintiff
Aug. 31, 2020
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2025
co-defendant
Australian Taxation Office ("ATO")          
Loss Contingencies [Line Items]          
Potential interest disputed       $ 85  
Income tax examination payment       $ 24  
Kirkland Royalty Matter | Pending Litigation          
Loss Contingencies [Line Items]          
Damages sought $ 350        
Ghana Parliament Cases          
Loss Contingencies [Line Items]          
Loss contingency number of plaintiffs | plaintiff   2      
Number of codefendants | co-defendant         33
Use rights | Holt option          
Loss Contingencies [Line Items]          
Purchase of option for mining and mineral rights     $ 75    
Newmont Ghana Gold Limited and Newmont Golden Ridge Limited          
Loss Contingencies [Line Items]          
Economic interest (as a percent)         100.00%
Newmont Capital Limited And Newmont Canada F N Holdings U L C          
Loss Contingencies [Line Items]          
Economic interest (as a percent)         100.00%
v3.25.4
COMMITMENTS AND CONTINGENCIES - Other Commitments and Contingencies (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Loss Contingencies [Line Items]    
Letters of credit surety bonds and bank guarantees, outstanding $ 1,943 $ 2,086
Galore Creek    
Loss Contingencies [Line Items]    
Continent consideration, liability $ 75  
v3.25.4
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS (Details) - Valuation Allowance of Deferred Tax Assets - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at beginning of year $ 4,363 $ 4,652 $ 3,994
Additions due to acquisition of Newcrest 0 168 300
Additions to deferred income tax expense 498 80 565
Reduction of deferred income tax expense (203) (382) (207)
Additions and reductions reflected in other components of the financial statements 124 (155) 0
Balance at end of year $ 4,782 $ 4,363 $ 4,652