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GROUP – NOTES TO THE ANNUAL FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER
12. TRADE AND OTHER PAYABLES
Rand million 2011 2010
Trade payables 1,672 1,595
Other payables 2,704 1,510
Leave pay accrual 166 139
Derivative financial instruments (refer to note 29) 14 30
4,556 3,274
Currency analysis of trade and other payables
Rand 4,197 3,094
US dollar 340 143
Euro 19 37
4,556 3,274
Other payables consist mainly of accruals for goods and services received, as well as a R968 million accrual for PAYE on the Envision distribution
paid in January 2012.
13. OTHER COMPREHENSIVE INCOME/(LOSSES)
Rand million Before tax Tax Net of tax
2011
Foreign currency translation differences
Net gains arising during the year 363 – 363
Net effect of cash flow hedges
Net gains arising during the year 41 – 41
Other comprehensive income for the year 404 – 404
2010
Foreign currency translation differences
Net losses arising during the year (215) – (215)
Net effect of cash flow hedges
Net losses arising during the year (2) – (2)
Other comprehensive losses for the year (217) – (217)
14. REVENUE
Rand million 2011 2010
Sale of iron ore 45,842 35,825
Services rendered – shipping 2,711 2,879
48,553 38,704
Sale of iron ore
Domestic – South Africa 3,388 2,874
Export 42,454 32,951
China 27,193 20,233
Rest of Asia 9,274 7,465
Europe 5,450 4,896
Middle East 227 300
Americas/other 310 57
Services rendered – shipping (China) 2,711 2,879
48,553 38,704
50 Kumba Iron Ore Limited