23. DEFERRED TAXATION CAPITAL
 

The detailed components of the net deferred taxation liability which results from the differences between the carrying amounts of assets and liabilities recognised for financial reporting and taxation purposes in different accounting periods are:

  United States Dollar  
Figures in millions unless otherwise stated 2018      2017   
Liabilities                
– Mining assets  835.7        1,014.1    
– Investment in environmental trust funds  3.2        3.4    
– Inventories  11.3        12.1    
– Unremitted earnings  9.3        9.1    
– Other  5.2        12.6    
Liabilities  864.7        1,051.3    
Assets                
– Provisions  (95.8)       (108.4)   
– Tax losses1  (98.4)       (69.1)   
– Unredeemed capital expenditure1  (475.9)       (491.9)   
– Finance lease liability  (2.0)       –    
– Other  (7.2)       –    
Assets  (679.3)       (669.4)   
Net deferred taxation liabilities  185.4        381.9    
Included in the statement of financial position as follows:                
Deferred taxation assets  (269.5)       (72.0)   
Deferred taxation liabilities  454.9        453.9    
Net deferred taxation liabilities  185.4        381.9    
Balance at beginning of the year  381.9        409.9    
Recognised in profit or loss – continuing operations  (211.6)       (31.5)   
Recognised in profit or loss – discontinued operations  –        3.4    
Recognised in OCI  (4.0)       –    
Translation adjustment  19.1        0.1    
Balance at end of the year  185.4        381.9    
1 Tax losses and unredeemed capital expenditure have been recognised, as disclosed in note 9, to the extent that the tax paying entities will have taxable profits in the foreseeable future (per the life-of-mine models of the respective operations) in order to utilise the unused tax losses and unredeemed capital expenditure before they expire. This was particularly assessed with reference to the South Deep and Damang lifeof- mine models.