Anglo American wishes to draw attention to Kumba Iron Ore Limited's announcement of its results for the year ended 31 December 2010.
10 February 2011
Anglo American wishes to draw attention to Kumba Iron Ore Limited's announcement of its results for the year ended 31 December 2010.
Anglo American will report underlying earnings in respect of Kumba Iron Ore Limited of US$1,210 million for the year ended 31 December 2010, which takes into account certain adjustments.
|
$m |
|
|
| IFRS headline earnings (US
dollar equivalent of published) |
1,964 |
| Exploration |
9 |
| Other adjustments |
1 |
|
1,974 |
|
|
| Non-controlling
interests |
(710) |
| Elimination of intercompany
interest |
2 |
| Depreciation of assets fair
valued on acquisition (net of tax) |
(9) |
| Corporate allocation |
(47) |
| Contribution to Anglo American
plc underlying earnings |
1,210 |
Anglo American will report results for the year ended 31
December 2010 on 18 February 2011. The above figures are
unaudited.
Underlying Earnings
Underlying Earnings is net profit attributable to equity
shareholders, adjusted to remove the effect of special items and
remeasurements, and any related tax and non-controlling interests.
Special items are those items of financial performance that the
Group believes should be excluded from underlying financial
performance. Operating special items include impairment charges and
reversals and other exceptional items, including restructuring
costs. Non-operating special items include profits and losses on
disposals of investments and businesses as well as transactions
relating to business combinations. Remeasurements include
adjustments to ensure that the unrealised gains or losses on
non-hedge derivative instruments are recorded in underlying
earnings in the same period as the underlying transaction against
which these instruments provide an economic, but not formally
designated, hedge as well as foreign exchange impact arising in US
dollar functional currency entities on deferred tax balances.