2 172 98 937 380 29 99 258 143 1 238 2200 122 2078

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Unformatted text preview: ued liabilities Current tax payable Other long-term liabilities Net assets Consideration received, satisfied in cash Cash and cash equivalents disposed of Net cash inflow ii. $ $ $ $ 12.2 17.2 9.8 93.7 38.0 2.9 (9.9) (25.8) (14.3) 1 23.8 220.0 (12.2) 207.8 Sale of Interest in Harry Winston On March 23, 2011, the Company completed the sale of its approximate 8.5% interest in Harry Winston, consisting of approximately 7.1 million common shares, for net proceeds of $100.6 million and a resulting gain on sale of $30.9 million. The Company had acquired these shares as part of the proceeds received on the sale of the Company’s 22.5% interest in the partnership holding Harry Winston’s 40% interest in the Diavik Diamond mine joint venture (“Diavik”) on August 25, 2010. On August 25, 2011, the Company collected a note receivable KINROSS GOLD 2012 ANNUAL REPORT FS25 from Harry Winston in the amount of $70.0 million which was also part of the proceeds on the sale of the Company’s interest in Diavik in August 2010. iii. Acquisition of 25% of CMGC On April 27, 2011, Kinross’ 75%-owned subsidiary, CMGC, completed a Share Purchase Agreement with the State Unitary Enterprise of the Chukotka Autonomous Okrug (“CUE”), to purchase the 2,292,348 shares of CMGC, representing 25.01% of CMGC’s outstanding share capital, for gross consideration of $335.4 million, including transaction costs. The excess of the consideration paid over the carrying value of the non-controlling interest, was recorded as a reduction of contributed surplus in the amount of $92.9 million. 7. CONSOLIDATED FINANCIAL STATEMENT DETAILS Consolidated Balance Sheets i. Cash and cash equivalents: December 31, 2011 $ 7 61.3 1 ,004.7 $ 1 ,766.0 December 31, 2012 Cash on hand and balances with banks Short-term deposits December 31, 2012 $ 499.5 1,133.4 $ 1 ,632.9 December 31, 2 011 Restricted cash: Restricted cash (a) (a) ii. $ 58.1 $ Restricted cash relates to restricted payments for the Kupol loan (see Note 13 (iv)), loan escrow...
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This document was uploaded on 03/30/2014.

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