NEWMONT Corp /DE/NEM
NEWMONT Corp /DE/ Segments Disclosure
SEGMENT INFORMATION
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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, 2025 | Sales | Costs Applicable to Sales | Depreciation 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 Items | Total Assets | Capital Expenditures (2) | ||||||||||||||||||||||||||||||||||||||||||||
Managed | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lihir | $ | 1,983 | $ | 755 | $ | 188 | $ | 13 | $ | 10 | $ | 18 | $ | 999 | $ | 5,805 | $ | 148 | |||||||||||||||||||||||||||||||||||
| Cadia: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 1,409 | 324 | 125 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Copper | 885 | 301 | 120 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Cadia | 2,294 | 625 | 245 | 5 | 13 | 47 | 1,359 | 6,646 | 597 | ||||||||||||||||||||||||||||||||||||||||||||
| Tanami | 1,353 | 429 | 124 | 3 | 10 | 26 | 761 | 2,734 | 571 | ||||||||||||||||||||||||||||||||||||||||||||
| Boddington: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 1,988 | 685 | 128 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Copper | 258 | 127 | 24 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Boddington | 2,246 | 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 | ||||||||||||||||||||||||||||||||||||||||||||
| Merian | 846 | 373 | 76 | 5 | 39 | — | 353 | 927 | 58 | ||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro | 691 | 312 | 124 | 6 | 25 | 24 | 200 | 1,868 | 150 | ||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha | 1,804 | 411 | 113 | (13) | 12 | 784 | 497 | 2,322 | 21 | ||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 1,492 | 389 | 161 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver | 1,080 | 334 | 131 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Lead | 183 | 116 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Zinc | 664 | 423 | 152 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Peñasquito | 3,419 | 1,262 | 490 | 22 | 17 | 61 | 1,567 | 4,744 | 123 | ||||||||||||||||||||||||||||||||||||||||||||
| Red Chris | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 218 | 82 | 24 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Copper | 295 | 169 | 50 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Red Chris | 513 | 251 | 74 | 9 | 11 | 1 | 167 | 2,668 | 157 | ||||||||||||||||||||||||||||||||||||||||||||
| Brucejack | 824 | 344 | 182 | 5 | 19 | 7 | 267 | 2,630 | 104 | ||||||||||||||||||||||||||||||||||||||||||||
Non-managed | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM | 3,560 | 1,343 | 478 | 12 | 21 | 9 | 1,697 | 7,486 | 387 | ||||||||||||||||||||||||||||||||||||||||||||
| Total Reportable Segments | 22,041 | 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&V | 88 | 39 | 2 | 2 | — | (3) | 48 | — | 5 | ||||||||||||||||||||||||||||||||||||||||||||
| Musselwhite | 94 | 33 | — | 1 | — | (18) | 78 | — | 14 | ||||||||||||||||||||||||||||||||||||||||||||
| Porcupine | 177 | 79 | 1 | 6 | 1 | 20 | 70 | — | 54 | ||||||||||||||||||||||||||||||||||||||||||||
| Éléonore | 138 | 54 | — | 1 | 2 | (171) | 252 | — | 12 | ||||||||||||||||||||||||||||||||||||||||||||
| Akyem | 131 | 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, 2024 | Sales | Costs Applicable to Sales | Depreciation 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 Items | Total Assets | Capital Expenditures (2) | ||||||||||||||||||||||||||||||||||||||||||||
Managed | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lihir | $ | 1,473 | $ | 787 | $ | 168 | $ | 12 | $ | 16 | $ | 21 | $ | 469 | $ | 5,625 | $ | 193 | |||||||||||||||||||||||||||||||||||
| Cadia | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 1,118 | 297 | 119 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Copper | 743 | 280 | 123 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Cadia | 1,861 | 577 | 242 | 5 | 19 | (23) | 1,041 | 6,208 | 537 | ||||||||||||||||||||||||||||||||||||||||||||
| Tanami | 988 | 390 | 123 | 2 | 28 | (19) | 464 | 2,236 | 437 | ||||||||||||||||||||||||||||||||||||||||||||
| Boddington: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 1,417 | 613 | 112 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Copper | 329 | 204 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Boddington | 1,746 | 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 | ||||||||||||||||||||||||||||||||||||||||||||
| Merian | 660 | 401 | 84 | 4 | 21 | (1) | 151 | 943 | 81 | ||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro | 566 | 312 | 123 | 5 | 19 | 13 | 94 | 1,787 | 186 | ||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha | 841 | 353 | 98 | 55 | 9 | 2 | 324 | 1,932 | 61 | ||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 713 | 225 | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver | 792 | 360 | 159 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Lead | 195 | 116 | 52 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Zinc | 622 | 427 | 162 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Peñasquito | 2,322 | 1,128 | 476 | 20 | 13 | 43 | 642 | 4,879 | 129 | ||||||||||||||||||||||||||||||||||||||||||||
| Red Chris | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 96 | 47 | 14 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Copper | 229 | 172 | 52 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Red Chris | 325 | 219 | 66 | 7 | 13 | (2) | 22 | 2,580 | 150 | ||||||||||||||||||||||||||||||||||||||||||||
| Brucejack | 610 | 312 | 172 | 5 | 13 | — | 108 | 2,660 | 70 | ||||||||||||||||||||||||||||||||||||||||||||
Non-managed | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM | 2,485 | 1,263 | 428 | 11 | 23 | 32 | 728 | 7,430 | 448 | ||||||||||||||||||||||||||||||||||||||||||||
Held for sale (4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| CC&V | 347 | 200 | 13 | 11 | 7 | 19 | 97 | 561 | 26 | ||||||||||||||||||||||||||||||||||||||||||||
| Musselwhite | 516 | 224 | 18 | 3 | 6 | — | 265 | 1,102 | 97 | ||||||||||||||||||||||||||||||||||||||||||||
| Porcupine | 673 | 310 | 36 | 27 | 6 | 633 | (339) | 1,172 | 201 | ||||||||||||||||||||||||||||||||||||||||||||
| Éléonore | 583 | 325 | 21 | 4 | 11 | (2) | 224 | 855 | 100 | ||||||||||||||||||||||||||||||||||||||||||||
| Akyem | 495 | 338 | 57 | 14 | 5 | (5) | 86 | 817 | 24 | ||||||||||||||||||||||||||||||||||||||||||||
| Total Reportable Segments | 18,414 | 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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 242 | 245 | 14 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Copper | 26 | 40 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Telfer | 268 | 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, 2023 | Sales | Costs Applicable to Sales | Depreciation 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 Items | Total Assets | Capital Expenditures (2) | ||||||||||||||||||||||||||||||||||||||||||||
Managed | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Lihir (3) | $ | 266 | $ | 146 | $ | 20 | $ | — | $ | 2 | $ | 5 | $ | 93 | $ | 3,909 | $ | 53 | |||||||||||||||||||||||||||||||||||
Cadia: (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 250 | 129 | 16 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Copper | 172 | 116 | 14 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Cadia | 422 | 245 | 30 | — | 2 | (13) | 158 | 6,351 | 75 | ||||||||||||||||||||||||||||||||||||||||||||
| Tanami | 867 | 337 | 110 | 2 | 30 | (19) | 407 | 1,896 | 413 | ||||||||||||||||||||||||||||||||||||||||||||
| Boddington: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 1,451 | 634 | 108 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Copper | 363 | 204 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Boddington | 1,814 | 838 | 143 | 12 | 6 | 4 | 811 | 2,376 | 164 | ||||||||||||||||||||||||||||||||||||||||||||
Telfer: (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 135 | 126 | 6 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Copper | 17 | 22 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Telfer | 152 | 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 | ||||||||||||||||||||||||||||||||||||||||||||
| Akyem | 574 | 275 | 122 | 12 | 19 | (5) | 151 | 1,069 | 40 | ||||||||||||||||||||||||||||||||||||||||||||
| Merian | 625 | 385 | 82 | 3 | 23 | 10 | 122 | 927 | 84 | ||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro | 510 | 328 | 137 | 4 | 10 | 16 | 15 | 1,646 | 162 | ||||||||||||||||||||||||||||||||||||||||||||
| Porcupine | 503 | 301 | 117 | 18 | 17 | 5 | 45 | 1,473 | 166 | ||||||||||||||||||||||||||||||||||||||||||||
| Éléonore | 453 | 295 | 101 | 3 | 10 | 247 | (203) | 777 | 106 | ||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha | 537 | 294 | 85 | 1,232 | 11 | (15) | (1,070) | 2,117 | 312 | ||||||||||||||||||||||||||||||||||||||||||||
| Musselwhite | 351 | 214 | 80 | 3 | 10 | 298 | (254) | 1,018 | 104 | ||||||||||||||||||||||||||||||||||||||||||||
Peñasquito: (5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 257 | 158 | 67 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver | 335 | 300 | 134 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Lead | 96 | 98 | 45 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Zinc | 213 | 253 | 105 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Peñasquito | 901 | 809 | 351 | 18 | 11 | 1,523 | (1,811) | 4,738 | 113 | ||||||||||||||||||||||||||||||||||||||||||||
| CC&V | 332 | 198 | 23 | 12 | 13 | 4 | 82 | 383 | 64 | ||||||||||||||||||||||||||||||||||||||||||||
Red Chris: (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 9 | 4 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Copper | 23 | 17 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Red Chris | 32 | 21 | 4 | — | — | (1) | 8 | 2,178 | 25 | ||||||||||||||||||||||||||||||||||||||||||||
Brucejack (3) | 72 | 69 | 22 | — | 7 | — | (26) | 4,006 | 22 | ||||||||||||||||||||||||||||||||||||||||||||
Non-managed | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM | 2,271 | 1,249 | 452 | 11 | 29 | 98 | 432 | 7,401 | 472 | ||||||||||||||||||||||||||||||||||||||||||||
| Total Reportable Segments | 11,812 | 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, | |||||||||||
| 2025 | 2024 | ||||||||||
| Australia | $ | 10,393 | $ | 9,490 | |||||||
United States (1) | 6,566 | 7,125 | |||||||||
Canada (1) | 4,625 | 8,358 | |||||||||
| Papua New Guinea | 4,614 | 4,514 | |||||||||
| Mexico | 3,606 | 3,822 | |||||||||
Ghana (1) | 2,406 | 2,755 | |||||||||
| Argentina | 1,604 | 1,582 | |||||||||
| Peru | 1,269 | 2,203 | |||||||||
| Suriname | 702 | 726 | |||||||||
| Other | 18 | 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.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 18, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 21, 2019 | |
| 2017 | Feb 22, 2018 | |
| 2016 | Feb 21, 2017 | |
| 2015 | Feb 17, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.