KGHM INTERNATIONAL LTD. (Formerly “Quadra FNX Mining Ltd.”) Condensed Interim Consolidated Financial Statements March 31, 2012 (Expressed in Millions of U.S
KGHM INTERNATIONAL LTD. (Formerly “Quadra FNX Mining Ltd.”) Condensed Interim Consolidated Financial Statements March 31, 2012 (Expressed in millions of U.S. dollars, except where indicated) (Unaudited) KGHM International Ltd. (Formerly “Quadra FNX Mining Ltd.”) CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (US Dollars in Millions) (Unaudited) March 31, December 31, Notes 2012 2011 ASSETS Current Cash and cash equivalents 898.2 1,005.5 Receivables 7 207.1 199.5 Inventory 6 218.3 198.7 Derivative assets 15 - 0.1 Notes receivable 21 111.2 - Other current assets 8 71.8 69.3 Total Current Assets 1,506.6 1,473.1 Mineral properties, plant and equipment 9 1,134.0 1,141.7 Investment in Sierra Gorda JV 5 521.1 521.1 Subordinated loan receivable from Sierra Gorda JV 5 75.1 - Goodwill 180.6 180.6 Environmental trust and bond 82.6 82.4 Other non-current assets 8 40.9 31.7 Deferred income tax assets 99.4 93.6 Total Non-Current Assets 2,133.7 2,051.1 Total Assets 3,640.3 3,524.2 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Accounts payable and accrued liabilities 10 142.3 125.0 Provisions 11 12.8 7.0 Derivative liabilities 15 9.2 13.6 Current portion of deferred revenue 12 17.3 17.9 Other current liabilities - 0.2 Current corporate tax liabilities 8.1 20.7 Total Current Liabilities 189.7 184.4 Senior Notes 13 488.5 488.2 Deferred revenue 12 167.9 169.9 Site closure and reclamation provision 14 87.7 88.6 Derivative liabilities 15 50.3 64.9 Deferred income tax liabilities 225.6 236.9 Total Non-Current Liabilities 1,020.0 1,048.5 Total Liabilities 1,209.7 1,232.9 Shareholders’ Equity Share capital 16(a) 1,847.6 1,706.3 Contributed surplus - 35.9 Accumulated other comprehensive loss (14.0) (15.2) Retained earnings 597.0 564.3 Total Shareholders’ Equity 2,430.6 2,291.3 Total Liabilities and Shareholders’ Equity 3,640.3 3,524.2 Commitments (Note 23), Contingencies (Note 24) The accompanying notes are an integral part of these condensed interim consolidated financial statements.
[Show full text]