XML 161 R116.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATING FINANCIAL STATEMENTS - Statement of operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Revenue    
Metal sales $ 3,497.3 $ 3,212.6
Cost of sales    
Production cost of sales 1,778.9 1,860.5
Depreciation, depletion and amortization 731.3 772.4
Reversals of impairment charges (361.8)  
Total cost of sales 2,148.4 2,632.9
Gross profit 1,348.9 579.7
Other operating expense 108.5 137.0
Exploration and business development 113.5 109.2
General and administrative 135.8 133.0
Operating earnings 991.1 200.5
Other income (expense) - net 72.6 3.2
Equity in earnings (losses) of associate, joint ventures and intercompany investments 0.1 (0.3)
Finance income 7.9 11.0
Finance expense (107.9) (101.2)
Earnings before tax 963.8 113.2
Income tax expense - net (246.7) (138.8)
Net earnings (loss) 717.1 (25.6)
Net earnings (loss) attributable to:    
Non-controlling interest (1.5) (2.0)
Common shareholders 718.6 (23.6)
Total Guarantors    
Revenue    
Metal sales 1,945.3 1,989.2
Cost of sales    
Production cost of sales 1,072.8 1,205.3
Depreciation, depletion and amortization 376.8 413.0
Reversals of impairment charges (200.7)  
Total cost of sales 1,248.9 1,618.3
Gross profit 696.4 370.9
Other operating expense 39.6 67.5
Exploration and business development 50.4 43.5
General and administrative 90.8 80.5
Operating earnings 515.6 179.4
Other income (expense) - net 35.1 (45.0)
Equity in earnings (losses) of associate, joint ventures and intercompany investments 333.2 (35.7)
Finance income 133.4 116.4
Finance expense (131.5) (161.0)
Earnings before tax 885.8 54.1
Income tax expense - net (167.2) (77.7)
Net earnings (loss) 718.6 (23.6)
Net earnings (loss) attributable to:    
Common shareholders 718.6 (23.6)
Kinross Gold Corp.    
Revenue    
Metal sales 1,892.0 1,936.0
Cost of sales    
Production cost of sales 1,857.5 1,897.7
Depreciation, depletion and amortization 3.3 3.7
Total cost of sales 1,860.8 1,901.4
Gross profit 31.2 34.6
Other operating expense 18.0 7.6
Exploration and business development 29.6 26.1
General and administrative 86.1 76.0
Operating earnings (102.5) (75.1)
Other income (expense) - net 33.0 12.9
Equity in earnings (losses) of associate, joint ventures and intercompany investments 767.1 41.4
Finance income 83.5 64.7
Finance expense (63.7) (64.6)
Earnings before tax 717.4 (20.7)
Income tax expense - net 1.2 (2.9)
Net earnings (loss) 718.6 (23.6)
Net earnings (loss) attributable to:    
Common shareholders 718.6 (23.6)
Guarantor Subsidiaries    
Revenue    
Metal sales 1,848.0 1,837.2
Cost of sales    
Production cost of sales 1,009.8 1,091.6
Depreciation, depletion and amortization 373.7 409.3
Reversals of impairment charges (200.7)  
Total cost of sales 1,182.8 1,500.9
Gross profit 665.2 336.3
Other operating expense 21.6 59.9
Exploration and business development 20.8 17.4
General and administrative 4.7 4.5
Operating earnings 618.1 254.5
Other income (expense) - net 2.1 (57.9)
Equity in earnings (losses) of associate, joint ventures and intercompany investments 390.5 1.0
Finance income 57.1 59.8
Finance expense (75.0) (104.5)
Earnings before tax 992.8 152.9
Income tax expense - net (168.4) (74.8)
Net earnings (loss) 824.4 78.1
Net earnings (loss) attributable to:    
Common shareholders 824.4 78.1
Guarantor Adjustments    
Revenue    
Metal sales (1,794.7) (1,784.0)
Cost of sales    
Production cost of sales (1,794.5) (1,784.0)
Depreciation, depletion and amortization (0.2)  
Total cost of sales (1,794.7) (1,784.0)
Equity in earnings (losses) of associate, joint ventures and intercompany investments (824.4) (78.1)
Finance income (7.2) (8.1)
Finance expense 7.2 8.1
Earnings before tax (824.4) (78.1)
Net earnings (loss) (824.4) (78.1)
Net earnings (loss) attributable to:    
Common shareholders (824.4) (78.1)
Non-guarantors    
Revenue    
Metal sales 1,552.0 1,223.4
Cost of sales    
Production cost of sales 706.1 655.2
Depreciation, depletion and amortization 354.5 359.4
Reversals of impairment charges (161.1)  
Total cost of sales 899.5 1,014.6
Gross profit 652.5 208.8
Other operating expense 68.9 69.5
Exploration and business development 63.1 65.7
General and administrative 45.0 52.5
Operating earnings 475.5 21.1
Other income (expense) - net 249.2 460.1
Equity in earnings (losses) of associate, joint ventures and intercompany investments 0.1 0.1
Finance income 89.7 123.0
Finance expense (191.6) (168.6)
Earnings before tax 622.9 435.7
Income tax expense - net (79.5) (61.1)
Net earnings (loss) 543.4 374.6
Net earnings (loss) attributable to:    
Non-controlling interest (1.5) (2.0)
Common shareholders 544.9 376.6
Eliminations    
Cost of sales    
Other income (expense) - net (211.7) (411.9)
Equity in earnings (losses) of associate, joint ventures and intercompany investments (333.2) 35.3
Finance income (215.2) (228.4)
Finance expense 215.2 228.4
Earnings before tax (544.9) (376.6)
Net earnings (loss) (544.9) (376.6)
Net earnings (loss) attributable to:    
Common shareholders $ (544.9) $ (376.6)