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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
Annual Report 2016 77
Notes to the consolidated financial statements
30 June 2016
(continued)
Working Capital Provisions
This section of the notes provides further information about the Group's working capital and provisions, including
accounting policies and key judgements and estimates relevant to understanding these items.
7 Cash and cash equivalents
2016
$'000
2015
$'000
Cash at bank and in hand
46,235
121,247
Deposits at call
29
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46,264
121,296
The Group has cash balances of $2,360,000 (2015: $2,226,000) not generally available for use as the balances are
held by the Tropicana Joint Venture and may only be used in relation to joint venture expenditure.
The Group's exposure to interest rate risk and a sensitivity analysis for financial assets and liabilities are disclosed in
note 21.
(a) Reconciliation of (loss) profit after income tax to net cash inflow from operating activities
2016
$'000
2015
$'000
(Loss) profit for the period
(58,770)
76,779
Depreciation and amortisation
99,695
98,551
Impairment of exploration and evaluation expenditure
35,518
3,461
Net (gain) loss on sale of non-current assets
(2,736)
(376)
Fair value of movement of financial investments
(2,374)
(1,467)
Non-cash employee benefits expense - share-based payments
819
2,949
Amortisation of borrowing expenses
27
709
Amortisation of lease incentive
(72)
(55)
Foreign exchange gains (losses) on cash balances
(907)
(2,904)
Change in operating assets and liabilities:
(Increase) decrease in trade receivables
(6,488)
11,348
(Increase) in inventories
(12,914)
(16,091)
(Increase) decrease in deferred tax assets
(25,264)
21,878
(Increase) decrease in other operating receivables and prepayments
2,254
(686)
(Increase) decrease in derivative financial instruments
3,359
(1,971)
(Decrease) increase in trade and other payables
37,985
(2,539)
(Decrease) increase in deferred tax liabilities
24,822
11,304
(Decrease) increase in other provisions
240
823
Net cash inflow from operating activities
95,194
201,713
(b) Recognition and measurement
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term deposits with an
original maturity of three months or less that are readily convertible to known amounts of cash and which are subject to
an insignificant risk of changes in value.
For the purpose of the cash flow statement, cash and cash equivalents consist of cash and cash equivalents as defined
above, net of outstanding bank overdrafts. Bank overdrafts are included within borrowings in current liabilities on the
balance sheet.
Independence Group NL
49