33 WWWNEW G O L D C O M TSXNGD NY SE Am er ic an NG D Operating Margin Operating m a rgin i s a nonGAAP financi a l meas ure with no st andard m ean ing under IFRS whi c h manag eme n t use s to eval uate the Com pan ys a g g r e gated an d mi neb y mine contributio n to net earni ngs before n oncash d epreci a tion and depl etion cha r g e s Oper ating margi n is cal c ulate d as re ven ue less operating e x pen se s an d therefo r e d o e s n o t in clud e dep re ciatio n and depl etion Ope r atin g margin i s intende d to p r ovi de additio nal info rmatio n onl y an d d o e s n o t ha ve a n y stand ardized me aning u nder IFRS it should not be consid ered in isolatio n or as a s ubstitute for measures of performa n ce prepa red in accordan ce with IFRS Oth e r com panie s may calculat e th is measu r e differently a nd this measu r e is unlikely to be comp arable to simila r mea s u r e s p r esented b y other com p a n ies T he foll owin g table s recon c ile thi s nonGAAP measure to the most directly comparabl e IFRS measure on an agg regated and minebymine basi s Operating Margin Reconciliation T ables Three months end e d March 31 in millions of U S dolla rs 202 0 201 9 TOTAL OPERATING MARGIN Rev enue 142 3 167 9 Les s Operat ing e x pens es 897 869 Total op erat in g m a rgin 526 810 Three months end e d March 31 in millions of U S dolla rs 202 0 201 9 RAINY RIVER OP ERATING MAR G IN Rev enue 778 925 Les s Operat ing e x pens es 568 573 Rainy Riv e r o pera t ing m a r g in 210 352 Three months end e d March 31 in millions of U S dolla rs 202 0 201 9 NEW AFTON OPERATING MAR G IN Rev enue 645 754 Les s Operat ing e x pens es 329 296 New Afton op erat i ng m a rg in 316 458