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GROUP – NOTES TO THE ANNUAL FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER
25. NET FINANCE COSTS PAID
Rand million 2011 2010
Net financing costs as per income statement 92 (29)
Adjusted for:
Notional interest on non-current provisions (refer to note 10) 59 42
Capitalisation of borrowing costs (refer to note 18) (247) (296)
(96) (283)
26. TAXATION PAID
Rand million 2011 2010
Net taxation (liability)/receivable at beginning of year (61) 109
Income taxation per the income statement (refer to note 19) (7,146) (7,203)
Translation of taxation for foreign operations (16) 2
(7,223) (7,092)
Net current taxation liability per balance sheet 188 61
Taxation paid per the cash flow statement (7,035) (7,031)
Comprising normal taxation:
South Africa (7,033) (7,029)
Foreign (2) (2)
(7,035) (7,031)
27. DIVIDENDS PAID
Rand million 2011 2010
Dividends per the statement of changes in equity (13,834) (6,756)
Recoupment of Envision dividend (refer to note 23) 92 42
(13,742) (6,714)
Dividends paid to non-controlling shareholders
Dividends per the statement of changes in equity (4,078) (1,834)
Recoupment of Envision dividend (refer to note 23) (92) (42)
(4,170) (1,876)
28. ADDITIONS TO PROPERTY, PLANT AND EQUIPMENT
Rand million 2011 2010
Replacement of property, plant and equipment (2,745) (1,560)
Reconditionable spares – (64)
Investments to maintain operations (2,745) (1,624)
Investment to expand operations (3,104) (3,099)
Additions per the cash flow statement (5,849) (4,723)
Borrowing costs capitalised (refer to note 18) (247) (296)
Movement in capital creditor 112 –
Additions per note 1 (5,984) (5,019)
58 Kumba Iron Ore Limited