Consolidated statement of changes in equity
for the year ended 31 December
Figures in millions unless otherwise stated
| UNITED STATES DOLLAR | ||||||||
| Number of ordinary shares in issue |
Share capital and share premium |
Accumulated other comprehensive income1 |
Other reserves2 |
Retained earnings |
Equity attributable to owners of the parent |
Non- controlling interest |
Total equity |
|
|---|---|---|---|---|---|---|---|---|
| Balance at 31 December 2013 | 767,160,263 | 3,470.7 | (1,445.1) | 104.3 | 1,721.5 | 3,851.4 | 193.8 | 4,045.2 |
| Profit for the year | – | – | – | – | 12.8 | 12.8 | 7.6 | 20.4 |
| Other comprehensive income | – | – | (321.7) | – | – | (321.7) | 1.6 | (320.1) |
| Total comprehensive income | – | – | (321.7) | – | 12.8 | (308.9) | 9.2 | (299.7) |
| Dividends declared | – | – | – | – | (29.8) | (29.8) | (10.7) | (40.5) |
| Share-based payments | – | – | – | 26.0 | – | 26.0 | – | 26.0 |
| Disposal of subsidiary (refer note 32) | – | – | – | – | – | – | (69.8) | (69.8) |
| Equity contributions from non-controlling interest holders | – | – | – | – | – | – | 2.0 | 2.0 |
| Exercise of employee share options | 4,256,228 | 0.1 | – | – | – | 0.1 | – | 0.1 |
| Balance at 31 December 2014 | 771,416,491 | 3,470.8 | (1,766.8) | 130.3 | 1,704.5 | 3,538.8 | 124.5 | 3,663.3 |
| Loss for the year | – | – | – | – | (242.1) | (242.1) | (0.5) | (242.6) |
| Other comprehensive income | – | – | (636.6) | – | – | (636.6) | – | (636.6) |
| Total comprehensive income | – | – | (636.6) | – | (242.1) | (878.7) | (0.5) | (879.2) |
| Dividends declared | – | – | – | – | (15.1) | (15.1) | (12.1) | (27.2) |
| Share-based payments | – | – | – | 10.9 | – | 10.9 | – | 10.9 |
| Exercise of employee share options | 5,177,671 | 0.2 | – | – | – | 0.2 | – | 0.2 |
| Balance at 31 December 2015 | 776,594,162 | 3,471.0 | (2,403.4) | 141.2 | 1,447.3 | 2,656.1 | 111.9 | 2,768.0 |
| Profit for the year | – | – | – | – | 162.8 | 162.8 | 10.9 | 173.7 |
| Other comprehensive income | – | – | 121.4 | – | – | 121.4 | – | 121.4 |
| Total comprehensive income | – | – | 121.4 | – | 162.8 | 284.2 | 10.9 | 295.1 |
| Dividends declared | – | – | – | – | (39.2) | (39.2) | (0.2) | (39.4) |
| Share-based payments | – | – | – | 14.4 | – | 14.4 | – | 14.4 |
| Shares issued3 | 38,857,913 | 151.5 | – | – | – | 151.5 | – | 151.5 |
| Exercise of employee share options | 5,154,870 | – | – | – | – | – | – | – |
| Balance at 31 December 2016 | 820,606,945 | 3,622.5 | (2,282.0) | 155.6 | 1,570.9 | 3,067.0 | 122.6 | 3,189.6 |
| The accompanying notes form an integral part of these financial statements. | |
| 1 | Accumulated other comprehensive income mainly comprises foreign currency translation. |
| 2 | Other reserves include share-based payments and share of equity 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 was 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. |