1 million of proceeds from debt of which 9961 million

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: million of which was net proceeds from the issuance of senior notes in August 2011. These debt proceeds were offset partially by a repayment of debt of $479.4 million and dividends paid of $124.8 million. Additionally, during 2011 the Company paid cash to acquire the outstanding share capital of Chukotka Mining and Geological Company (“CMGC”) for total consideration of $335.4 million, increasing its interest in CMGC to 100%. MDA34 KINROSS GOLD 2012 ANNUAL REPORT Balance Sheet As at December 31, 2011 December 31, 2012 (in millions) December 31, 2010 Cash and cash equivalents and short-term investments $ 1,982.7 $ 1 ,767.3 $ 1,466.6 Current assets $ 3,600.8 $ 3 ,117.8 $ 2,663.1 Total assets $ 14,882.4 $ 1 6,508.8 $ 17,795.2 Current liabilities, including current portion of long-term debt $ 1,306.2 $ Total long-term financial liabilities (a) $ 2,848.3 $ 7 95.7 $ 2 ,230.2 $ 976.1 1,100.8 Total debt, including current portion $ 2,632.6 $ 1 ,633.1 $ 474.4 Total liabilities $ 4 ,956.7 $ 4 ,038.1 $ 3,001.9 Common shareholders' equity $ 9,850.2 $ 1 2,390.4 $ 14,531.1 Non-controlling interest $ 8 0.3 $ 262.2 75.5 $ Statistics Working capital (b) $ Working capital ratio (c) 2,294.6 2.76:1 $ 2 ,322.1 $ 3.92:1 1,687.0 2.73:1 (a) Includes long-term debt, provisions, and unrealized fair value of derivative liabilities. (b) Current assets less current liabilities. (c) Current assets divided by current liabilities. At December 31, 2012, Kinross had cash and cash equivalents and short-term investments of $1,982.7 million, an increase of $215.4 million from the balance as at December 31, 2011, primarily due to the proceeds from the issuance of the new term loan and the sale of its interest in Crixás. Current assets increased to $3,600.8 million, largely due to an increase in short-term investments. Total assets decreased by $1,626.4 million to $14,882.4 million, primarily due to the impairment charges of $3,527.6 million, partially offset by an increase in short-term investments and additions to property, plant and equipment. Current liabilities increased to $1,306.2 million, mainly due to an increase in the curre...
View Full Document

This document was uploaded on 03/30/2014.

Ask a homework question - tutors are online