Summarised financial information

Group – Selected notes

1. SEGMENTAL INFORMATION

AngloGold Ashanti Limited’s operating segments are being reported based on the financial information provided to the Chief Executive Officer and the Executive Committee, collectively identified as the Chief Operating Decision Maker (CODM). Individual members of the Executive Committee are responsible for geographic regions of the business.

Figures in million (US dollars) 2014 2013 2012
Gold income   
Geographical analysis of gold income by origin is as follows:   
South Africa1,5271,8102,013
Continental Africa (2)2,1052,1112,609
Australasia785441426
Americas1,2701,4251,656
 5,6875,7876,704
Equity-accounted investments included above(469)(290)(351)
 5,2185,4976,353
Gross profit (loss) (1)   
South Africa216510651
Continental Africa (2)469475959
Australasia125(9)78
Americas309516736
Corporate and other41
 1,1191,4922,465
Equity-accounted investments included above(76)(47)(111)
 1,0431,4452,354
Capital expenditure   
South Africa264451583
Continental Africa (2)454839925
Australasia91285369
Americas394410409
Other, including non-gold producing subsidiaries6836
 1,2091,9932,322
Equity-accounted investments included above(191)(411)(303)
 1,0181,5822,019
(000oz) 2014 2013 2012
Gold production (attributable)   
South Africa1,2231,3021,212
Continental Africa1,5971,4601,521
Australasia620342258
Americas9961,001953
 4,4364,1053,944
Figures in million (US dollars) 2014 2013 2012
Total assets   
South Africa2,1242,3253,082
Continental Africa3,2393,3914,846
Australasia9061,1081,045
Americas2,4092,2032,878
Other, including non-gold producing subsidiaries456647888
 9,1349,67412,739
  1. (1) The group’s segment profit measure is gross profit, which excludes the results of associates and joint ventures. For reconciliation of gross profit to profit before taxation, refer to the consolidated income statement.
  2. (2) Includes equity-accounted investments.

2. SPECIAL ITEMS

In 2014, the Obuasi mine was transitioned to limited operations and, as a result, the entire workforce was retrenched at a cost of $210m.

3. HEADLINE (LOSS) EARNINGS AND DIVIDENDS

    2014 2013 2012
Headline (loss) earnings$m(79)781,208
Headline (loss) earnings per shareUS cents(19)20312
Diluted headline (loss) earnings$m(79)(252)1,058
Diluted headline (loss) earnings per shareUS cents(19)(62)251
Dividends to ordinary shareholders$m40215
Dividends per ordinary shareUS cents535
Reconciliation of (loss) profit attributable to equity shareholders to headline (loss) earnings
Figures in million (US dollars) 2014 2013 2012
Headline (loss) earnings   
The (loss) profit attributable to equity shareholders was adjusted by the following to arrive at headline earnings:   
(Loss) profit attributable to equity shareholders(58)(2,230)897
Impairment and derecognition of tangible and intangible assets 10 3,029 346
Tax on item above (2) (915) (103)
Net amount82,114243
Net (profit) loss on disposal and derecognition of land, mineral rights, tangible assets and exploration properties (25)(2) 15
Tax on item above 8 (4)
Net amount(17)(2)11
Impairment of other investments23016
Profit on partial disposal of Rand Refinery (Pty) Limited(14)
Impairment of investments in associates and joint ventures119559
Reversal of impairment in associates and joint ventures(23)(31)(2)
Loss on disposal of loan to joint venture2
Loss on sale of Navachab mine2
Special items of associates and joint ventures62(4)
 (79)781,208

Headline earnings is calculated in accordance with Circular 2/2013 as issued by the South African Institute of Chartered Accountants (SAICA). Headline earnings is a requirement of the JSE Limited and is not a recognised measure under IFRS. Headline earnings as defined in Circular 2/2013 issued by SAICA, separates from earnings all separately identifiable remeasurements. It is not necessarily a measure of sustainable earnings.

4. SUBSEQUENT EVENTS

AngloGold Ashanti currently considers joint venturing or selling its interest in Cripple Creek & Victor (CC&V) mine

The company has initiated a plan to identify a joint venture partner or a purchaser in respect of its interest in the CC&V mine in Colorado in the United States for full value. The CC&V gold mine is a surface mining operation which provides oxidised ore to a crusher and valley leach facility, one of the largest in the world. It is included in the Americas reporting segment and was acquired by AngloGold Ashanti in 1999. The mine produced 211,000 ounces of gold in 2014. There can be no assurance, however, that a sale and purchase agreement for this transaction will be entered into or that any sales transaction will be completed.

AngloGold Ashanti currently considers selling its interests in Société d’Exploitation des Mines d’Or de Sadiola S.A. (Sadiola) and Société d’Exploitation des Mines d’Or de Yatela S.A. (Yatela)

The company currently intends to dispose of its 41% stake in Sadiola and its 40% stake in Yatela. The mines are both situated in western Mali and are included in the Continental Africa reporting segment. The Sadiola and Yatela mines produced 85,000 and 11,000 attributable ounces of gold, respectively, in 2014.

Management was approached by a potential buyer for both mines who meets management’s qualifying criteria and has asked for a binding bid. There can be no assurance, however, that a sale and purchase agreement for these transactions will be entered into or that any sales transactions will be completed.

 

For more detail on the notes, refer to the consolidated Annual Financial Statements 2014.

Statement of changes in equity Non-GAAP disclosure