Anglo American Annual Report 2008
Reconciliation of subsidiaries' and associate's reported earnings to the underlying earnings included in the consolidated financial statements for the year ended 31 December 2008. Note only key reported lines are reconciled.
| US$ million | 2008 | 2007 |
|---|---|---|
| Anglo Platinum Limited | ||
| IFRS headline earnings (US$ equivalent of published) | 1,607 | 1,748 |
| Exploration | 36 | 36 |
| Exchange rate difference | 64 | 4 |
| Operating remeasurements (net of tax) | 17 | – |
| Other adjustments | 6 | (10) |
| 1,730 | 1,778 | |
| Minority interests | (376) | (443) |
| Depreciation on assets fair valued on acquisition (net of tax) | (41) | (36) |
| Contribution to Anglo American plc underlying earnings | 1,313 | 1,299 |
DB Investments (DBI) |
||
| De Beers underlying earnings (100%) | 515 | 483 |
| Difference in IAS 19 accounting policy | 18 | 13 |
| De Beers underlying earnings – Anglo American plc basis (100%) | 533 | 496 |
| Anglo American plc’s 45% ordinary share interest | 240 | 223 |
| Income from preference shares | 13 | 16 |
| Other | 3 | – |
| Contribution to Anglo American plc underlying earnings | 256 | 239 |
Kumba Iron Ore Limited (KIO) |
||
| IFRS headline earnings (US$ equivalent of published)(1) | 872 | 434 |
| Exploration | 8 | – |
| Other adjustments | 12 | 7 |
| 892 | 441 | |
| Minority interests | (328) | (155) |
| Depreciation on assets fair valued on acquisition (net of tax) | (6) | (12) |
| Contribution to Anglo American plc underlying earnings | 558 | 274 |
- (1)
- KIO IFRS headline earnings for the year ended 31 December 2008 assume a minority interest of 20% in KIO’s underlying mining assets.