Gold Fields

Annual
Financial Report

2018

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Annual Financial Report including Governance Report 2018

Consolidated statement of changes in equity

for the year ended 31 December

United States Dollar 
Figures in millions unless otherwise stated  Stated 
capital 
Accumulated 
other 
comprehensive 
income1 
Other  
reserves2 
Retained 
earnings 
Equity
attributable
to owners
of the
parent 
Non- 
controlling 
interests 
Total 
equity 
Balance at 31 December 2015  3,471.0  (2,401.4) 141.2  1,433.6  2,644.4  111.9  2,756.3 
Profit for the year  –  –  –  158.2  158.2  10.9  169.1 
Other comprehensive income  –  121.4  –  –  121.4  –  121.4 
Total comprehensive income  –  121.4  –  158.2  279.6  10.9  290.5 
Transactions with owners of the Company 
Dividends declared  –  –  –  (39.2) (39.2) (0.2) (39.4)
Share-based payments from continuing operations  –  –  14.0  –  14.0  –  14.0 
Share-based payments from discontinued operations  –  –  0.4  –  0.4  –  0.4 
Shares issued3  151.5  –  –  –  151.5  –  151.5 
Balance at 31 December 2016  3,622.5  (2,280.0) 155.6  1,552.6  3,050.7  122.6  3,173.3 
(Loss)/profit for the year  –  –  –  (18.7) (18.7) 11.0  (7.7)
Other comprehensive income  –  279.2  –  –  279.2  –  279.2 
Total comprehensive income  –  279.2  –  (18.7) 260.5  11.0  271.5 
Transactions with owners of the Company 
Dividends declared  –  –  –  (62.8) (62.8) (0.6) (63.4)
Dividends advanced  –  –  –  –  –  (5.8) (5.8)
Share-based payments from continuing operations  –  –  26.8  –  26.8  –  26.8 
Share-based payments from discontinued operations  –  –  0.6  –  0.6  –  0.6 
Balance at 31 December 2017  3,622.5  (2,000.8) 183.0  1,471.1  3,275.8  127.2  3,403.0 
Adjustment on initial application of IFRS 15 (net of tax) –  –  –  (3.5) (3.5) –  (3.5)
Adjusted balance at 1 January 20184  3,622.5  (2,000.8) 183.0  1,467.6  3,272.3  127.2  3,399.5 
(Loss)/profit for the year  –  –  –  (348.2) (348.2) 3.4  (344.8)
Other comprehensive income  –  (330.0) –  –  (330.0) –  (330.0)
Total comprehensive income  –  (330.0) –  (348.2) (678.2) 3.4  (674.8)
Transactions with owners of the Company 
Dividends declared  –  –  –  (45.5) (45.5) (9.8) (55.3)
Share-based payments from continuing operations  –  –  37.5  –  37.5  –  37.5 
Balance at 31 December 2018  3,622.5  (2,330.8) 220.5  1,073.9  2,586.1  120.8  2,706.9 
The accompanying notes form an integral part of these consolidated financial statements.
1 Accumulated other comprehensive income mainly comprises foreign currency translation.
2 Other reserves include share-based payments and share of equity accounted investee’s other comprehensive income. The aggregate of accumulated other comprehensive income and other reserves in the consolidated statement of changes in equity is disclosed in the consolidated statement of financial position as other reserves.
3 During 2016, Gold Fields completed a US$151.5 million (R2.3 billion) accelerated equity raising by way of a private placement to institutional investors.
A total number of 38,857,913 new Gold Fields shares were placed at a price of R59.50 per share which represented a 6% discount to the 30-day volume weighted average traded price, for the period 17 March 2016 and a 0.7% discount to the 50-day moving average.
The net proceeds from the placement were used to refinance the US$1,510 million term loan and revolving credit facilities. The new facilities amount to US$1,290 million. Refer note 24 for further details.
4 No adjustment required to equity on initial application of IFRS 9. Refer note 41 for further details.