XML 148 R118.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATING FINANCIAL STATEMENTS - Statement of operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Revenue    
Metal sales $ 4,213.4 $ 3,497.3
Cost of sales    
Production cost of sales 1,725.7 1,778.9
Depreciation, depletion and amortization 842.3 731.3
Reversals of impairment charges - net (650.9) (361.8)
Total cost of sales 1,917.1 2,148.4
Gross profit 2,296.3 1,348.9
Other operating expense 186.5 108.5
Exploration and business development 92.5 113.5
General and administrative 117.9 135.8
Operating earnings 1,899.4 991.1
Other income (expense) - net 7.4 72.7
Finance income 4.3 7.9
Finance expense (112.6) (107.9)
Earnings before tax 1,798.5 963.8
Income tax expense - net (439.8) (246.7)
Net earnings 1,358.7 717.1
Net earnings (loss) attributable to:    
Non-controlling interests 16.3 (1.5)
Common shareholders 1,342.4 718.6
Total Guarantors    
Revenue    
Metal sales 2,288.6 1,945.3
Cost of sales    
Production cost of sales 996.9 1,072.8
Depreciation, depletion and amortization 463.9 376.8
Reversals of impairment charges - net   (200.7)
Total cost of sales 1,460.8 1,248.9
Gross profit 827.8 696.4
Other operating expense 31.4 39.6
Exploration and business development 43.0 50.4
General and administrative 83.1 90.1
Operating earnings 670.3 516.3
Other income (expense) - net 30.5 34.9
Equity in earnings (losses) of intercompany investments 882.7 341.9
Finance income 82.9 95.4
Finance expense (107.5) (108.0)
Earnings before tax 1,558.9 880.5
Income tax expense - net (216.5) (161.9)
Net earnings 1,342.4 718.6
Net earnings (loss) attributable to:    
Common shareholders 1,342.4 718.6
Kinross Gold Corp.    
Revenue    
Metal sales 2,225.4 1,892.0
Cost of sales    
Production cost of sales 2,181.9 1,857.5
Depreciation, depletion and amortization 5.0 3.3
Total cost of sales 2,186.9 1,860.8
Gross profit 38.5 31.2
Other operating expense 8.3 18.0
Exploration and business development 25.6 29.6
General and administrative 80.4 86.1
Operating earnings (75.8) (102.5)
Other income (expense) - net 22.8 33.0
Equity in earnings (losses) of intercompany investments 1,389.2 767.1
Finance income 80.6 83.5
Finance expense (75.6) (63.7)
Earnings before tax 1,341.2 717.4
Income tax expense - net 1.2 1.2
Net earnings 1,342.4 718.6
Net earnings (loss) attributable to:    
Common shareholders 1,342.4 718.6
Guarantor Subsidiaries    
Revenue    
Metal sales 2,229.0 1,848.0
Cost of sales    
Production cost of sales 980.8 1,009.8
Depreciation, depletion and amortization 458.9 373.7
Reversals of impairment charges - net   (200.7)
Total cost of sales 1,439.7 1,182.8
Gross profit 789.3 665.2
Other operating expense 23.1 21.6
Exploration and business development 17.4 20.8
General and administrative 2.7 4.0
Operating earnings 746.1 618.8
Other income (expense) - net 7.7 1.9
Equity in earnings (losses) of intercompany investments 1,016.2 399.2
Finance income 2.7 12.3
Finance expense (32.3) (44.7)
Earnings before tax 1,740.4 987.5
Income tax expense - net (217.7) (163.1)
Net earnings 1,522.7 824.4
Net earnings (loss) attributable to:    
Common shareholders 1,522.7 824.4
Guarantor Adjustments    
Revenue    
Metal sales (2,165.8) (1,794.7)
Cost of sales    
Production cost of sales (2,165.8) (1,794.5)
Depreciation, depletion and amortization   (0.2)
Total cost of sales (2,165.8) (1,794.7)
Equity in earnings (losses) of intercompany investments (1,522.7) (824.4)
Finance income (0.4) (0.4)
Finance expense 0.4 0.4
Earnings before tax (1,522.7) (824.4)
Net earnings (1,522.7) (824.4)
Net earnings (loss) attributable to:    
Common shareholders (1,522.7) (824.4)
Non-guarantors    
Revenue    
Metal sales 1,924.8 1,552.0
Cost of sales    
Production cost of sales 728.8 706.1
Depreciation, depletion and amortization 378.4 354.5
Reversals of impairment charges - net (650.9) (161.1)
Total cost of sales 456.3 899.5
Gross profit 1,468.5 652.5
Other operating expense 155.1 68.9
Exploration and business development 49.5 63.1
General and administrative 34.8 45.7
Operating earnings 1,229.1 474.8
Other income (expense) - net 188.2 249.5
Finance income 143.5 134.5
Finance expense (227.2) (221.9)
Earnings before tax 1,333.6 636.9
Income tax expense - net (223.3) (84.8)
Net earnings 1,110.3 552.1
Net earnings (loss) attributable to:    
Non-controlling interests 16.3 (1.5)
Common shareholders 1,094.0 553.6
Eliminations    
Cost of sales    
Other income (expense) - net (211.3) (211.7)
Equity in earnings (losses) of intercompany investments (882.7) (341.9)
Finance income (222.1) (222.0)
Finance expense 222.1 222.0
Earnings before tax (1,094.0) (553.6)
Net earnings (1,094.0) (553.6)
Net earnings (loss) attributable to:    
Common shareholders $ (1,094.0) $ (553.6)