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Unformatted text preview: is any indication that any
of its CGUs’ carrying amounts exceed their recoverable amounts, and if there is such an indication, the
Company would test for potential impairment at that time. The recoverable amounts, or fair values, of its
CGUs are based, in part, on certain factors that may be partially or totally outside of Kinross’ control.
Kinross’ fair value estimates are based on numerous assumptions, some of which may be subjective, and it is
possible that actual fair value could be significantly different than those estimates. In connection with
Kinross’ 2012 evaluation, Kinross recorded impairment cha rges of $3,206.1 million, net of a tax recovery of
$321.5 million, relating to Tasiast and Chirano. In the absence of any mitigating valuation factors, Kinross’
failure to achieve its valuation assumptions or declines in the fair values of its CGUs may, over time, result in
further impairment charges. KINROSS GOLD 2012 ANNUAL REPORT MDA55 11. SUPPLEMENTAL INFORMATION
Reconciliation of non-GAAP financial measures
The Company has included certain non-GAAP financial measures in this document. These measures are not
defined under IFRS and should not be considered in isolation. The Company believes that these measures,
together with measures determined in accordance with IFRS, provide investors with an improved ability to
evaluate the underlying performance of the Company. The inclusion of these measures is meant to provide
additional information and should not be used as a substitute for performance measures prepared in
accordance with IFRS. These measures are not necessarily standard and therefore may not be comparable
to other issuers.
Adjusted Net Earnings Attributable to Common Shareholders and Adjusted Net Earnings per Share
Adjusted net earnings attributable to common shareholders and adjusted net earnings per share are nonGAAP measures which determine the performance of the Company, excluding certain impacts which the
Company believes are not reflective of the Company’s underlying performance for the reporting period, such
as the impact of foreign exchange gains and losses, reassessment of prior year taxes and/or taxes otherwise
not related to the current period, impairment charges, gains and losses and other one-time costs related to
acquisitions, dispositions and other transactions, and non-hedge derivative gains and losses. Although some
of the items are recurring, the Company believes that they are not reflective of the underlyin...
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- Spring '14