AGNICO EAGLE MINES LTD
For the period ended Dec 31, 2025. Filed Mar 19, 2026.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2025 · Filed Mar 19, 2026
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EX-99.2 · 23.SEGMENTED INFORMATION
**23.**SEGMENTED INFORMATION
The Company identifies its operating segments as those operations whose operating results are reviewed by the Chief Operating Decision Maker (“CODM”), the Chief Executive Officer, for the purpose of allocating resources and assessing performance. Each of the Company’s operating mines and significant projects are considered to be separate operating segments. Reportable operating segments represent more than 10.0% of the combined revenue from mining operations, income or loss or total assets of all operating segments. Certain operating segments that do not meet the quantitative thresholds are still disclosed where the Company believes that the information is useful. The CODM also reviews segment income (defined as revenues from mining operations less production costs, exploration and corporate development expenses and impairment losses and reversals) on a mine-by-mine basis. Revenues from mining operations and production costs for the reportable segments are reported net of intercompany transactions. Corporate and other assets and specific income and expense items are not allocated to reportable segments.
Effective December 31, 2025, the Company redefined its operating segments to reflect changes in how management evaluates the LaRonde mine and LZ5. These operations have been combined into the LaRonde Complex segment, and comparative information has been restated to conform with the revised presentation.
| | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · Year Ended December 31, 2025 | |||||||||||||||
| · · Revenues from · · · · · Exploration and · · · · · Segment | |||||||||||||||
| · · Mining · · Production · · Corporate · · Impairment · · Income | |||||||||||||||
| · · Operations · · Costs · · Development · · Reversal · · (Loss) | |||||||||||||||
| LaRonde | | $1,303,218 | | $(360,025) | | $— | | $— | | $943,193 | |||||
| Canadian Malartic | | | 2,078,291 | | | (488,160) | | | — | | — | | | 1,590,131 | |
| Goldex | | | 460,907 | | | (148,952) | | | — | | — | | | 311,955 | |
| Meliadine | | | 1,328,761 | | | (402,385) | | | — | | — | | | 926,376 | |
| Meadowbank | | | 1,700,214 | | | (552,470) | | | — | | — | | | 1,147,744 | |
| Kittila | | | 748,635 | | | (236,238) | | | — | | | — | | | 512,397 |
| Detour Lake | | | 2,360,769 | | | (565,439) | | | — | | | — | | | 1,795,330 |
| Macassa | | | 1,021,752 | | | (221,718) | | | — | | 229,000 | | | 1,029,034 | |
| Fosterville | | | 537,795 | | | (146,382) | | | — | | — | | | 391,413 | |
| Pinos Altos | | | 323,322 | | | (205,808) | | | — | | — | | | 117,514 | |
| Corporate and other(i) | | | 44,187 | | | (13,107) | | | — | | | — | | | 31,080 |
| Exploration | | | — | | | — | | | (206,684) | | — | | | (206,684) | |
| Segment totals | | $11,907,851 | | $(3,340,684) | | $(206,684) | | $229,000 | | $8,589,483 | |||||
| Total segments income | | | | | | | | | | $8,589,483 | |||||
| Corporate and other: | | | | | | | | | | | | ||||
| Amortization of property, plant and mine development | | | | | | | | | | | (1,645,297) | ||||
| General and administrative | | | | | | | | | | | (235,947) | ||||
| Finance costs | | | | | | | | | | | (91,145) | ||||
| Gain on derivative financial instruments | | | | | | | | | | | 223,960 | ||||
| Foreign currency translation gain | | | | | | | | | | | | 25,654 | |||
| Care and maintenance | | | | | | | | | | | | | | | (69,802) |
| Other income and expenses | | | | | | | | | | | (92,995) | ||||
| Income before income and mining taxes | | | | | | | | | | | $6,703,911 | ||||
Note:
(i) Relates to revenues and production costs from non-operating minesites.
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · Year Ended December 31, 2024 | ||||||||||||
| · · Revenues from · · · · · Exploration and · · · Segment | ||||||||||||
| · · Mining · · Production · · Corporate · · · Income | ||||||||||||
| · · Operations · · Costs · · Development · · · (Loss) | ||||||||||||
| LaRonde | | $770,314 | | $(319,495) | | $— | | $450,819 | ||||
| Canadian Malartic | | 1,492,313 | | | (532,037) | | | — | | | 960,276 | |
| Goldex | | 321,346 | | | (129,977) | | | — | | | 191,369 | |
| Meliadine | | 890,243 | | | (350,280) | | | — | | | 539,963 | |
| Meadowbank | | 1,178,132 | | | (463,464) | | | — | | | 714,668 | |
| Kittila | | | 523,550 | | | (227,334) | | | — | | | 296,216 |
| Detour Lake | | 1,582,974 | | | (497,079) | | | — | | | 1,085,895 | |
| Macassa | | 670,568 | | | (201,371) | | | — | | | 469,197 | |
| Fosterville | | 545,152 | | | (147,045) | | | — | | | 398,107 | |
| Pinos Altos | | | 245,997 | | | (168,231) | | | — | | | 77,766 |
| La India | | 65,164 | | | (49,767) | | | — | | | 15,397 | |
| Exploration | | — | | | — | | | (219,610) | | | (219,610) | |
| Segment totals | | $8,285,753 | | $(3,086,080) | | $(219,610) | | $4,980,063 | ||||
| Total segments income | | | | | | | | | | $4,980,063 | ||
| Corporate and other: | | | | | | | | | | | ||
| Amortization of property, plant and mine development | | | | | | | | | | | | (1,514,076) |
| General and administrative | | | | | | | | | | | (207,450) | |
| Finance costs | | | | | | | | (126,738) | ||||
| Loss on derivative financial instruments | | | | | | | | (155,819) | ||||
| Foreign currency translation loss | | | | | | | | (9,383) | ||||
| Care and maintenance | | | | | | | | (60,574) | ||||
| Other income and expenses | | | | | | | | (84,468) | ||||
| Income before income and mining taxes | | | | | | | | $2,821,555 | ||||
The following table sets out revenues from mining operations by geographic area(i):
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year Ended December 31, | ||||||
| · · 2025 · · 2024 | ||||||
| Canada | | $10,287,227 | | $6,905,890 | ||
| Australia | | | 537,795 | | | 545,152 |
| Finland | | | 748,635 | | | 523,550 |
| Mexico | | | 334,194 | | | 311,161 |
| Total revenues from mining operations | | $11,907,851 | | $8,285,753 | ||
Note:
(i) Based on the location of the mine from which the product originated.
The following table sets out total assets by segment:
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Total Assets as at | ||||||
| · · December 31, · · December 31, | ||||||
| · · 2025 · · 2024 | ||||||
| LaRonde | | $1,265,895 | | $1,231,210 | ||
| Canadian Malartic | | | 7,025,277 | | | 6,833,320 |
| Goldex | | | 468,050 | | | 457,204 |
| Meliadine | | | 2,276,714 | | | 2,344,399 |
| Meadowbank | | | 1,567,865 | | | 1,343,936 |
| Kittila | | | 1,545,658 | | | 1,559,735 |
| Detour Lake | | | 10,201,708 | | | 9,730,258 |
| Macassa | | | 1,896,086 | | | 1,774,106 |
| Fosterville | | | 1,236,700 | | | 1,044,241 |
| Pinos Altos | | 436,744 | | 392,480 | ||
| La India | | 85,100 | | 94,806 | ||
| Exploration | | 1,968,494 | | 1,418,441 | ||
| Corporate and other | | 4,497,000 | | 1,762,882 | ||
| Total assets | | $34,471,291 | | $29,987,018 | ||
The following table sets out non-current assets by geographic area:
| | | | | | | |
|---|---|---|---|---|---|---|
| · · As at December 31, · · As at December 31, | ||||||
| · · 2025 · · 2024 | ||||||
| Canada | | $26,090,979 | | $23,803,520 | ||
| Australia | | | 1,208,835 | | | 1,176,213 |
| Finland | | | 1,386,369 | | | 1,431,114 |
| Mexico | | | 768,822 | | | 747,392 |
| Sweden | | | 13,812 | | | 13,812 |
| United States | | | 8,532 | | | 9,686 |
| Total non-current assets | | $29,477,349 | | $27,181,737 | ||
The following table sets out the carrying amount of goodwill by segment for the years ended December 31, 2025 and December 31, 2024:
| · · · · · · · · · · · · | ||||||||
|---|---|---|---|---|---|---|---|---|
| · · · · · Canadian · · · · · · | ||||||||
| | | Detour | | Malartic | | Exploration | | Total |
| Total goodwill | | $1,215,444 | | $2,882,228 | | $60,000 | | $4,157,672 |
The following table sets out capital expenditures by segment:
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year Ended December 31, | ||||||
| · · 2025 · · 2024 | ||||||
| LaRonde | | $182,465 | | $176,206 | ||
| Canadian Malartic | | | 470,137 | | | 320,103 |
| Goldex | | | 70,284 | | | 69,884 |
| Meliadine | | | 166,346 | | | 173,770 |
| Meadowbank | | | 152,134 | | | 96,137 |
| Kittila | | | 79,530 | | | 79,259 |
| Detour Lake | | | 578,057 | | | 502,756 |
| Macassa | | | 195,104 | | | 170,783 |
| Fosterville | | | 128,776 | | | 90,041 |
| Pinos Altos | | | 44,961 | | | 31,836 |
| Exploration | | | 316,218 | | | 103,180 |
| Corporate and other | | | 34,188 | | | 3,994 |
| Total capital expenditures | | $2,418,200 | | $1,817,949 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.