Cash Generated by Operations (Tables)

12 Months Ended

Dec. 31, 2022


	United States Dollar
Figures in millions unless otherwise stated	2022	2021	2020

Profit for the year1	721.7	829.5	745.4
Adjusted for non-cash items:
– Mining and income taxation	442.1	424.9	432.5
– Royalties	110.4	112.4	105.0
– Amortisation and depreciation	844.3	713.2	661.3
– Interest expense – environmental rehabilitation	11.8	8.6	10.7
– Non-cash rehabilitation (income)/expense	(8.9)	10.8	1.5
– Interest received – environmental trust funds	(1.1)	(0.8)	(0.7)
– Impairment, net of reversal of impairment of investments and assets	505.0	42.4	(50.6)
– Write-off of exploration and evaluation assets	—	21.3	16.9
– (Profit)/loss on disposal of assets	(10.4)	(8.5)	0.2
– Unrealised (gain)/loss and prior year mark-to-market reversals on derivative contracts	(1.8)	53.0	(176.4)
– Fair value gain on Maverix warrants	—	4.0	(1.3)
– Silicosis settlement costs	(2.2)	(0.7)	0.3
– Share-based payments	6.9	12.7	14.5
– Long-term incentive plan expense	29.0	28.5	51.3
– Borrowing costs capitalised	(37.9)	(12.5)	(13.2)
– Share of results of equity-accounted investees, net of taxation	(11.1)	30.4	1.0
– Ghana expected credit loss	17.5	41.1	29.0
– Other non-cash items	1.2	1.7	(0.7)
Adjusted for cash items:
– Interest expense	97.6	103.7	127.7
– Interest received	(12.1)	(7.4)	(7.6)
– Payment of long-term incentive plan	(32.4)	(37.3)	—
– Environmental rehabilitation payments	(10.8)	(23.7)	(12.9)
Total cash generated by operations	2,658.8	2,347.3	1,933.9

1 Profit for the year of US$721.7 million in 2022 includes the Yamana break fee of US$300.0 million and Yamana related costs of US$33.0 million.