8 755 a b fs32 represents non controlling interest in

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Unformatted text preview: ased its ownership to 100%. See Note 6(iii). Represents non-controlling interest in Chirano Gold Mines Limited. KINROSS GOLD 2012 ANNUAL REPORT Consolidated Statements of Operations xii. Other income (expense) – net: Years ended December 31, 2 012 2011 Gains (losses) on acquisition/disposition of investments - net: Harry Winston (a) $ - Other investments $ 30.9 6.3 Gains (losses) on sale of other assets - net Gains on acquisition/disposition of assets and investments - net (0.8) 0.8 7.1 $ (24.3) (2.1) 1 8.0 $ Impairment of investments (b) Foreign exchange gains (losses) Net non-hedge derivative gains Other income (expense) (5.3) 2 4.8 1 1.3 5 9.1 (0.9) (2.2) $ $ 5 .9 1 01.1 (a) On March 23, 2011, the Company sold its remaining interest in Harry Winston. See Note 6(ii). (b) During the year ended December 31, 2012, the Company recognized impairment losses on certain of its available-for-sale investments. xiii. Equity in losses of associate: Years ended December 31, 2 012 Cerro Casale (a) (a) $ 2011 (6.5) $ (2.3) The Company holds a 25% interest in Cerro Casale and the investment is accounted for under the equity method. xiv. Finance expense: Accretion on reclamation and remediation obligation Interest expense, including accretion on debt $ (a) $ (a) Years ended December 31, 2 012 2011 17.3 $ 2 1.0 24.8 4 2.1 $ 4 4.5 6 5.5 During the years ended December 31, 2012 and 2011, $99.7 million and $26.5 million of interest was capitalized to property, plant and equipment, respectively. See Note 7(v). Interest paid during the year ended December 31, 2012 was $68.6 million (year ended December 31, 2011 $9.7 million). KINROSS GOLD 2012 ANNUAL REPORT FS33 xv. Employee benefits expenses: The following employee benefits expenses are included in production cost of sales, general and administrative, and exploration and business development expenses: Years ended December 31, 2 012 Salaries, short term incentives, and other benefits Share-based payments Other $ $ 2011 606.9 38.0 61.0 7 05.9 $ $ 4 36.5 3 6.5 6 1.0 5 34.0 8. IMPAIRMENT During the year ended December 31, 2012, the Company recorded impairment charges aggregating $3,527.6 million, comprised of $3,4...
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This document was uploaded on 03/30/2014.

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