Fs38 kinross gold 2012 annual report ii derivative

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Unformatted text preview: .6 (48.6) 1.3 Other contracts Total return swap (v) (0.2) - (0.7) - Canadian dollar denominated common share purchase warrants liability (vi) (0.2) - (18.6) - Currency contracts Foreign currency forward contracts $ AOCI (b) (ii) Commodity contracts Gold and silver forward contracts (iii) Energy forward contracts (c) (iv) Convertible senior notes - conversion option (vii) Total all contracts $ (7.9) $ $ 1 5.0 9 .6 2 4.6 Unrealized fair value of derivative assets Current Non-current - (0.1) - (2.6) (2.3) $ (95.5) $ $ $ (22.0) (10.5) (32.5) $ (66.7) (32.7) (99.4) $ (7.9) $ (101.7) 2 .8 1 .1 3 .9 (95.5) Unrealized fair value of derivative liabilities Current Non-current Total net fair value $ (a) Of the total amount recorded in AOCI, $nil million will be reclassified to net earnings within the next 12 months. (b) Of the total amount recorded in AOCI, $2.9 million will be reclassified to net earnings within the next 12 months as a result of settling the contracts. (c) Of the total amount recorded in AOCI, $(0.7) million will be reclassified to net earnings within the next 12 months as a result of settling the contracts. (i) Interest rate contracts During 2008, the Company entered into an interest rate swap in order to fix the interest rates on 50% of the Paracatu term loan, maturing in February 2012. Under the contract, Kinross Brasil Mineração S.A. (“KBM”), a wholly-owned subsidiary of the Company, was to pay a rate of 3.83% and receive LIBOR plus 1%. The Paracatu term loan was repaid in February 2012, and accordingly, the interest rate swap was settled. Concurrent with completing the three-year, floating rate term loan in August 2012 (see Note 13(i)), the Company entered into an interest rate swap to swap the underlying LIBOR into a fixed rate of 0.49% for the entire three year period. KINROSS GOLD 2012 ANNUAL REPORT FS39 (ii) Foreign currency forward contracts The following table provides a summary of foreign currency forward contracts outstanding at December 31, 2012, maturing in: Foreign currency Brazilian real forward buy contracts (in millions of U.S. dollars) Average...
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This document was uploaded on 03/30/2014.

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