DERIVATIVES INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table provides the fair value of the Company’s derivative instruments designated as cash flow hedges:

	At September 30, 2023		At December 31, 2022
Derivative assets:
Foreign currency cash flow hedges, current (1)	$	—	$	12
Foreign currency cash flow hedges, non-current (2)	—		8
	$	—	$	20
Derivative liabilities:
Foreign currency cash flow hedges, current (3)	$	13	$	—
	$	13	$	—

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(1)Included in Other current assets in the Company’s Condensed Consolidated Balance Sheets.

(2)Included in Other non-current assets in the Company’s Condensed Consolidated Balance Sheets.

(3)Included in Other current liabilities in the Company’s Condensed Consolidated Balance Sheets.

Derivative Instruments, Gain (Loss)

The following table provides the losses (gains) recognized in earnings related to the Company's derivative instruments:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Loss (gain) on cash flow hedges:
Foreign currency cash flow hedges (1)	$	6	$	—	$	8	$	—
Interest rate contracts (2)	2		1		4		3
	$	8	$	1	$	12	$	3

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(1)Foreign currency cash flow hedges relate to contracts entered into, and subsequently settled, to mitigate the variability of CAD and AUD denominated operating expenditures. The amounts are reclassified out of Accumulated other comprehensive income (loss) into earnings in the month that the operating expenditures are incurred. The losses (gains) recognized in earnings are included in Costs applicable to sales in the Company’s Condensed Consolidated Statement of Operations.

(2)Interest rate contracts relate to swaps entered into, and subsequently settled, associated with the issuance of certain senior notes. The related gains and losses are reclassified from Accumulated Other Comprehensive Income (Loss) and amortized to Interest expense, net over the term of the respective hedged notes.

Derivatives Not Designated as Hedging Instruments

The Company had the following contingent consideration assets and liabilities:

	At September 30, 2023		At December 31, 2022
Contingent consideration assets:
Batu Hijau and Elang (1)	$	148	$	139
Red Lake (2)	37		39
Cerro Blanco (2)	5		5
Triple Flag (previously Maverix) (2)(3)	4		4
Other (2)	1		1
	$	195	$	188
Contingent consideration liabilities: (4)
Norte Abierto	$	3	$	1
Galore Creek	2		2
	$	5	$	3

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(1)At September 30, 2023, $70 is included in Other current assets and $78 is included in Other non-current assets in the Company’s Condensed Consolidated Balance Sheets. At December 31, 2022, $139 is included in Other non-current assets in the Company’s Condensed Consolidated Balance Sheets.

(2)Included in Other non-current assets in the Company’s Condensed Consolidated Balance Sheets.

(3)In January 2023, Triple Flag acquired all of the issued and outstanding common shares of Maverix. Refer to Note 11 for further information.

(4)Included in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheets.