AngloGold Annual Financial Statements 2003

Statement of changes in shareholders' equity

Company statement of changes in shareholders’ equity for the year ended 31 December 2003

	Ordinary	Ordinary
	and	and	Non-	Other
	preference	preference	distri-	compre-		Share-
	share	share	butable-	hensive	Retained	holders?
	capital	premium	reserves⁽¹⁾	income⁽²⁾	earnings	equity
Figures in million

SA Rands

Balance at 31 December 2001	55	8,398	51	(1,282)	1,603	8,825
Net profit					1,957	1,957
Dividends (Group note 16)					(2,728)	(2,728)
Ordinary shares issued	2	1,581				1,583
Share issue expenses written off		(116)				(116)
Net loss on cash flow hedges removed
from equity and reported in income				539		539
Net gain on cash flow hedges				592		592
Deferred taxation on cash flow hedges				(430)		(430)
Translation			(386)			(386)

Balance at 31 December 2002	57	9,863	(335)	(581)	832	9,836
Net profit					1,041	1,041
Dividends (Group note 16)					(2,336)	(2,336)
Ordinary shares issued		61				61
Net loss on cash flow hedges removed
from equity and reported in income				85		85
Net gain on cash flow hedges				71		71
Deferred taxation on cash flow hedges				(92)		(92)
Net gain on repayment of net investment			3		?	3
Translation			(260)			(260)
Balance at 31 December 2003	57	9,924	(592)	(517)	(463)	8,409
Note	Group note 27	Group note 27

⁽¹⁾	Non-distributable reserves is a surplus on disposal of company shares within the group R141m (2002: R141m), and a downward revaluation of foreign denominated loans and intra-group balances R733m (2002: R476m).
⁽²⁾	Other comprehensive income represents the effective portion of fair value gains or losses in respect of cash flow hedges until the underlying transaction occurs upon which the gains or loses are recognised in earnings.