Shares dilution adjustments exclusions 1139058 1

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Unformatted text preview: s ended December 31, 2 012 2011 Current tax expense Current period Adjustment for prior period $ 467.6 14.6 $ 3 88.6 3 .1 Deferred tax expense Origination and reversal of temporary differences Impact of changes in tax rate Change in unrecognized deductible temporary differences Recognition of previously unrecognized tax losses $ FS56 KINROSS GOLD 2012 ANNUAL REPORT (302.6) 119.2 (37.4) 0.1 2 61.5 $ 1 23.2 (8.6) (9.5) 4 96.8 The reconciliation of the combined Canadian federal and provincial statutory income tax rate to the effective tax rate is as follows: 2 012 Combined statutory income tax rate 2011 26.5% 28.3% Increase (decrease) resulting from: Mining taxes 0.1% (0.8%) Resource allowance and depletion 0.4% 0.4% Difference in foreign tax rates and FX (gain) loss on translation of tax basis and FX on deferred income taxes within income tax expense (4.2%) (14.0%) Benefit of losses not recognized (2.2%) (1.7%) 0.1% 1.5% (1.5%) 1.7% (24.8%) (5.2%) 0.7% 3.8% (47.8%) 0.6% Taxes on repatriation of foreign earnings (0.8%) (3.1%) Other (1.5%) (0.2%) (11.4%) (32.3%) Recognition of tax attributes not previously benefited Under (over) provided in prior periods Income not subject to tax Effect of non-deductible goodwill impairment Enacted rate change Effective tax rate i. Deferred income tax The following table summarizes the components of deferred income tax: December 31, 2012 Deferred tax assets Accrued expenses and other Reclamation and remediation obligations Inventory capitalization Non-capital loss carryforwards Deferred tax liabilities Accrued expenses and other Property, plant and equipment Inventory capitalization Deferred tax liabilities - net $ $ 1 10.8 169.8 0.4 2.7 2 83.7 1 8.2 874.9 21.1 630.5 December 31, 2011 $ $ 1 05.9 1 33.4 5 .3 0 .7 2 45.3 1 4.5 1 ,061.6 2 6.4 8 57.2 Deferred tax assets and liabilities have been offset where they relate to income taxes levied by the same taxation authority and the Company has the legal right and intent to offset. Movement in net deferred tax liabilities: December 31, 2012 Balance at the beginning of the period Recognized in profit/loss Recognized in OCI Discontinued operations Other Balance at the end of the period ii. $ $ 857.2 $ (220.7) 10.4 (14.1) (2.3) 630.5 $ December 31, 2011 7 98.9 105.1 (34.3) 3 .3 (15.8) 8 57.2 Unrecognized deferred tax assets and liabilities The aggregate amount of...
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