2 2 9442 11391 077 8 508 1 1360 0 75 adjusted

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Unformatted text preview: s excluding certain impacts which the Company believes are not reflective of the Company’s regular operating cash flow and excluding changes in working capital. Working capital can be volatile due to numerous factors, including the timing of tax payments, and in the case of Kupol, a build-up of inventory due to transportation logistics. The Company uses adjusted operating cash flow internally as a measure of the underlying operating cash flow performance and future operating cash flow-generating capability of the Company. However, the adjusted operating cash flow measure is not necessarily indicative of net cash flow from operations as determined under IFRS. The following table provides a reconciliation of adjusted cash flow from operations for the periods presented: Years ended December 31, (in millions) Net cash flow of continuing operations provided from operating activities - as reported 2012 $ 2011 1,302.9 $ 1 ,378.8 Adjusting items: Close out and early settlement of derivative instruments (48.7) 4 8.7 Working capital changes: Accounts receivable and other assets 20.4 1 19.3 297.0 2 31.1 (44.6) Inventories (216.1) Accounts payable and other liabilities, including taxes 2 24.1 Adjusted operating cash flow from continuing operations $ 1,527.0 1 83.0 $ 1 ,561.8 Consolidated and Attributable Production Cost of Sales per Equivalent Ounce Sold Consolidated production cost of sales per gold equivalent ounce sold is a non-GAAP measure and is defined as production cost of sales as per the consolidated financial statements divided by the total number of gold equivalent ounces sold. This measure converts the Company’s non-gold production into gold equivalent ounces and credits it to total production. Attributable production cost of sales per gold equivalent ounce sold is a non-GAAP measure and is defined as attributable production cost of sales divided by the attributable number of gold equivalent ounces sold. This measure converts the Company’s non-gold production into gold equivalent ounces and credits it to total production. Management uses these measures to monitor and evaluate the performance of its operating properties. Years ended December 31, (in mill...
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This document was uploaded on 03/30/2014.

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