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	Home          Profile & mission          Key features          Chairman‘s statement          The board & executive          CEOs‘ review          Finance review       +   Market review       +   Operations review          Ore reserves & mineral resources review          Projects review       +   Company statistics            Financial statements Approval of the Annual Financial Statements Declaration by the Company Secretary Auditor‘s Report Directors‘ Report Remuneration Report Audit Committee Report Principal accounting policies Consolidated Income Statement Segmental Information Consolidated Balance Sheet Consolidated Cash Flow Statement Group Statement of Recognised Income and Expense United States Dollar Equivalent Consolidated Income Statement United States Dollar Equivalent Consolidated Balance Sheet United States Dollar Equivalent Consolidated Cash Flow Statement Notes to the Consolidated Financial Statements Annexures Appendix 1       +   Directorate & management       +   Shareholders‘ information	Financial statements  |  Notes to the Consolidated Financial Statements   print page   email page   PDF 639KB Explore Notes ---------------------------------------------------------------------------------------------- 1. Gross sales revenue ---------------------------------------------------------------------------------------------- 2. Exchange rates to the South African rand ---------------------------------------------------------------------------------------------- 3. Cash operating costs ---------------------------------------------------------------------------------------------- 4. Depreciation of operating assets ---------------------------------------------------------------------------------------------- 5. Other costs ---------------------------------------------------------------------------------------------- 6. Other net expenditure ---------------------------------------------------------------------------------------------- 7. Interest expensed and received ---------------------------------------------------------------------------------------------- 8. Profit before taxation ---------------------------------------------------------------------------------------------- 9. Taxation ---------------------------------------------------------------------------------------------- 10. Earnings per ordinary share ---------------------------------------------------------------------------------------------- 11. Reconciliation between net profit       and headline earnings ---------------------------------------------------------------------------------------------- 12. Ordinary and preference dividends ---------------------------------------------------------------------------------------------- 13. Property, plant and equipment ---------------------------------------------------------------------------------------------- 14. Capital work-in-progress ---------------------------------------------------------------------------------------------- 15. Exploration and evaluation ---------------------------------------------------------------------------------------------- 16. Investment in associates ---------------------------------------------------------------------------------------------- 17. Joint ventures ---------------------------------------------------------------------------------------------- 18. Investments held by environmental trusts ---------------------------------------------------------------------------------------------- 19. Other financial assets ---------------------------------------------------------------------------------------------- 20. Other non-current assets ---------------------------------------------------------------------------------------------- 21. Inventories ---------------------------------------------------------------------------------------------- 22. Accounts receivable ---------------------------------------------------------------------------------------------- 23. Other assets ---------------------------------------------------------------------------------------------- 24. Derivative financial assets ---------------------------------------------------------------------------------------------- 25. Cash and cash equivalents ---------------------------------------------------------------------------------------------- 26. Assets held for sale ---------------------------------------------------------------------------------------------- 27. Combined statement of movement in       shareholders’ funds and       movement in reserves ---------------------------------------------------------------------------------------------- 28. Share capital ---------------------------------------------------------------------------------------------- 29. Deferred taxation ---------------------------------------------------------------------------------------------- 30. Environmental obligations ---------------------------------------------------------------------------------------------- 31. Employee benefits ---------------------------------------------------------------------------------------------- 32. Obligations due under finance leases ---------------------------------------------------------------------------------------------- 33. Interest-bearing borrowings ---------------------------------------------------------------------------------------------- 34. Accounts payable ---------------------------------------------------------------------------------------------- 35. Other liabilities ---------------------------------------------------------------------------------------------- 36. Related party transactions ---------------------------------------------------------------------------------------------- 37. Reconciliation of profit before       taxation to cash from operations ---------------------------------------------------------------------------------------------- 38. Taxation paid ---------------------------------------------------------------------------------------------- 39. Purchase of property, plant and equipment ---------------------------------------------------------------------------------------------- 40. Commitments ---------------------------------------------------------------------------------------------- 41. Contingent liabilities ---------------------------------------------------------------------------------------------- 42. Change in accounting estimate ---------------------------------------------------------------------------------------------- 43. Financial instruments ---------------------------------------------------------------------------------------------- 44. Analysis of shareholders ---------------------------------------------------------------------------------------------- 45. Revision of conversion price applicable       to convertible preference shares ---------------------------------------------------------------------------------------------- 46. Comparative figures ---------------------------------------------------------------------------------------------- 47. Post-balance events ----------------------------------------------------------------------------------------------
		Notes to the Consolidated Financial Statements     2007 Rm    2006 Rm  9. Taxation     Current 4,604   3,504   Deferred 2,052   1,278     6,656   4,782   Comprising:     South African normal taxation 4,688   4,182   Secondary tax on companies (STC) 1,680   416   Foreign and withholding taxation 288   184     6,656   4,782   A reconciliation of the standard rate of South African normal taxation compared with that charged in the income statement is set out in the following table: %   %   South African normal taxation 29.0   29.0   STC 8.7   2.5     37.7   31.5   Foreign income (3.3)   (2.7)   Disallowable items —   0.5   Prior year’s overprovision (0.1)   (0.7)   Other 0.1   —   Effective taxation rate 34.4   28.6     Rm   Rm   Amounts which are available for offset against future taxable income:       Unredeemed capital expenditure for which deferred tax liabilities with respect to property, plant and equipment have been reduced 2,972   1,410 10. Earnings per ordinary share     The calculation of basic and headline earnings per ordinary share is based on earnings of R12,299 million and R12,294 million respectively (2006: R11,680 million and R11,756 million) and a weighted average of 234,667,224 (2006: 218,751,831) ordinary shares in issue during the year. The calculation of diluted earnings per ordinary share, basic and headline, is based on earnings of R12,330 million and R12,325 million respectively (2006: R11,680 million and R11,756 million). Refer below for weighted average number of potential diluted ordinary shares in issue during the year.     2007   2006   Weighted average number of potential diluted ordinary shares in issue     Weighted average number of ordinary shares in issue 234,667,224   218,751,831   Dilutive potential ordinary shares relating to:     Share option schemes 1,565,814   909,505   Weighted average number of potential diluted ordinary shares in issue – basic 236,233,038   219,661,336   Dilutive potential ordinary shares relating to:     Conversion of preference shares 726,752   —     236,959,790   219,661,336
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