19 segmented information the company operates

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Unformatted text preview: evenue, earnings or losses or assets are reportable segments. In order to determine reportable operating segments, management reviewed various factors, including geographical location and managerial structure. It was determined by management that a reportable operating segment consists of an individual mining property managed by a single general manager and management team. Certain properties that are in development or have not reached commercial production levels are considered reportable segments because they have reached quantitative thresholds. These have been identified as non-operating segments. There are no material intersegment transactions. Finance income, finance expense, other income (expense), and equity in losses of associates are managed on a consolidated basis and are not allocated to operating segments. Non-mining and other operations are reported in Corporate and other. On June 28, 2012, the Company completed the sale of its 50% interest in the Crixás gold mine to a subsidiary of AngloGold for gross cash proceeds of $220.0 million, resulting in an after-tax gain on disposal of $33.8 million. As a result, Crixás is no longer a reportable segment, and is considered a discontinued operation. See Note 6(i). FS58 KINROSS GOLD 2012 ANNUAL REPORT i. Operating segments The following tables set forth operating results by reportable segment for the following periods: Non-operating segments (a) Operating segments Year ended December 31, 2012: Revenue Metal sales Cost of sales Production cost of sales Depreciation, depletion and amortization Impairment charges Total cost of sales Gross profit (loss) Other operating expense Round Fort Knox Mountain Paracatu La Coipa Maricunga Kettle RiverBuckhorn Tasiast Chirano Fruta del Corporate and Norte other (b) $ 556.3 317.2 785.1 292.7 395.0 910.3 260.1 297.0 497.7 - 221.2 66.8 288.0 $ 268.3 - 136.7 28.2 164.9 152.3 - 415.4 85.3 500.7 284.4 - 169.2 49.7 218.9 73.8 0.4 184.8 22.1 206.9 188.1 8.4 272.9 107.7 380.6 529.7 1.2 75.6 73.9 149.5 110.6 2.4 159.7 75.4 3,416.3 3,651.4 (3,354.4) 37.6 215.3 163.3 111.3 489.9 7.8 6.6 0.1 0.1 (0.1) 1.8 7.4 1.1 0.2 5.6 0.8 27.5 18.0 74.6 9.5 5.0 $ 260.9 151.2 284.2 67.8 178.9 5.5 495.5 90.2 0.2 (3,466.8) (8.3) (6.9) Exploration and business development General and administrative Operating earnings (loss) Other expense – net Equity in losses of associate Finance income Finance expense Kupol - Total $ 4,311.4 8.7 8.7 (8.7) $ 26.0 1,850.8 681.2 3,527.6 6,059.6 (1,748...
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This document was uploaded on 03/30/2014.

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