Statement of cash flows

International Financial Reporting Standards Basis

Figures are in millions unless otherwise stated

  South African Rand   Quarter   Nine months to
      September
2012
  June
2012
  September
2011
  September
2012
  September
2011
 
  Cash flows from operating activities   1,449.0   4,194.5   5,056.5   8,385.7   10,793.2  
  Profit before royalties, tax and non-recurring items   2,618.1   3,107.6   3,853.5   9,029.3   9,022.1  
  Non-recurring items   93.9   (135.1)   (167.2)   (120.1)   (350.4)  
  Amortisation and depreciation   1,591.3   1,577.0   1,377.4   4,690.3   3,894.6  
  South Deep BEE dividend paid   -   (20.0)   -   (20.0)   (21.4)  
  Change in working capital   (1,336.0)   711.0   372.7   (1,144.0)   129.9  
  Royalties and taxation paid   (1,459.4)   (1,296.3)   (689.0)   (4,391.3)   (2,335.9)  
  Other non-cash items   (58.9)   250.3   309.1   341.5   454.3  
  Dividends paid   (1,195.9)   (1.9)   (870.5)   (2,899.3)   (1,442.2)  
  Owners of the parent   (1,169.0)   -   (723.6)   (2,846.3)   (1,229.4)  
  Non-controlling interest holders   (26.9)   (1.9)   (146.9)   (53.0)   (212.8)  
  Cash flows from investing activities   (3,196.1)   (3,362.4)   (3,161.1)   (10,047.3)   (14,613.2)  
  Capital expenditure – additions   (3,632.3)   (3,330.0)   (2,607.4)   (9,612.0)   (6,961.0)  
  Capital expenditure – proceeds on disposal   8.7   0.9   0.6   11.3   17.5  
  Payment for FSE   -   -   (534.6)   (833.8)   (534.6)  
  La Cima non-controlling interest buy-out   -   -   -   (0.1)   (2,611.0)  
  Ghana non-controlling interest buy-out   -   -   -   -   (4,519.7)  
  Talas non-controlling interest buy-out   (83.1)   -   -   (83.1)   -  
  Purchase of investments   -   (5.5)   -   (6.5)   (0.7)  
  Proceeds on disposal of investments   513.9   4.3   13.3   522.6   36.8  
  Environmental and post-retirement health care payments   (3.3)   (32.1)   (33.0)   (45.7)   (40.5)  
  Cash flows from financing activities   284.2   371.2   (1,431.3)   2,399.8   3,641.7  
  Loans received   1,780.0   6,232.3   400.0   9,846.1   7,499.1  
  Loans repaid   (1,592.8)   (5,904.9)   (1,905.2)   (7,634.6)   (4,039.5)  
  Non-controlling interest holders’ loans received   94.8   33.6   64.0   174.2   152.5  
  Shares issued   2.2   10.2   9.9   14.1   29.6  
                         
  Net cash (outflow)/inflow   (2,658.8)   1,201.4   (406.4)   (2,161.1)   (1,620.5)  
  Translation adjustment   75.2   315.3   496.1   197.1   591.4  
  Cash at beginning of period   6,668.6   5,151.9   4,345.0   6,049.0   5,463.8  
  Cash at end of period   4,085.0   6,668.6   4,434.7   4,085.0   4,434.7  
  Cash flow from operating activities less capital expenditure – additions   (2,183.3)   864.5   2,449.1   (1,226.3)   3,832.2  

  United States Dollars   Quarter   Nine months to
      September
2012
  June
2012
  September
2011
  September
2012
  September
2011
 
  Cash flows from operating activities   172.3   514.0   716.5   1,046.1   1,549.6  
  Profit before royalties, tax and non-recurring items   314.9   384.4   548.7   1,124.4   1,299.9  
  Non-recurring items   12.0   (16.8)   (23.9)   (15.0)   (50.5)  
  Amortisation and depreciation   192.8   195.4   195.3   584.1   561.2  
  South Deep BEE dividend paid   -   (2.5)   -   (2.5)   (3.1)  
  Change in working capital   (166.7)   91.0   54.0   (142.5)   18.7  
  Royalties and taxation paid   (172.6)   (168.8)   (102.0)   (544.9)   (342.1)  
  Other non-cash items   (8.1)   31.3   44.4   42.5   65.5  
  Dividends paid   (146.0)   (0.2)   (122.8)   (370.7)   (205.8)  
  Owners of the parent   (142.7)   -   (101.7)   (364.2)   (174.9)  
  Non-controlling interest holders   (3.3)   (0.2)   (21.1)   (6.5)   (30.9)  
  Cash flows from investing activities   (387.2)   (418.2)   (439.0)   (1,257.0)   (2,116.2)  
  Capital expenditure – additions   (442.0)   (414.0)   (370.2)   (1,197.0)   (1,003.0)  
  Capital expenditure – proceeds on disposal   1.1   0.1   -   1.4   2.5  
  Payment for FSE   -   -   (66.0)   (110.0)   (66.0)  
  La Cima non-controlling interest buy-out   -   -   -   -   (382.1)  
  Ghana non-controlling interest buy-out   -   -   -   -   (667.0)  
  Talas non-controlling interest buy-out   (10.0)   -   -   (10.0)   -  
  Purchase of investments   -   (0.7)   -   (0.8)   (0.1)  
  Proceeds on disposal of investments   64.0   0.5   1.9   65.1   5.3  
  Environmental and post-retirement health care payments   (0.3)   (4.1)   (4.7)   (5.7)   (5.8)  
  Cash flows from financing activities   33.9   46.4   (184.5)   310.3   549.6  
  Loans received   215.2   793.0   56.7   1,250.1   1,084.9  
  Loans repaid   (193.0)   (752.0)   (251.7)   (963.0)   (561.6)  
  Non-controlling interest holders’ loans received   11.4   4.1   9.1   21.4   22.0  
  Shares issued   0.3   1.3   1.4   1.8   4.3  
                         
  Net cash (outflow)/inflow   (327.0)   142.0   (29.8)   (271.3)   (222.8)  
  Translation adjustment   26.2   (26.9)   (53.3)   21.3   (39.2)  
  Cash at beginning of period   794.8   679.7   630.6   744.0   809.5  
  Cash at end of period   494.0   794.8   547.5   494.0   547.5  
  Cash flow from operating activities less capital expenditure – additions   (269.7)   100.0   346.3   (150.9)   546.6  

#Cash at the end of December 2012 of R5,618.5 million comprised cash attributable to continuing operations of R5,195.6 million and cash attributable to discontinued operations of R422.9 million.