Explanatory notes

Znacznik	Nazwa	Pobierz
Part 1	General information
Note 1.1	Corporate information
Note 1.2	Basis of preparation and presentation
Note 1.3	Impact of new and amended standards and interpretations
Note 1.4	Published standards and interpretations, which are not yet in force and were not applied earlier by the Group
Part 2	Information on segments and revenues
Note 2.1	Operating segments
Note 2.2	Financial results of reporting segments	XLS
Note 2.3	Revenues from contracts with customers of the Group – breakdown by products	XLS
Note 2.4	Revenues from contracts with customers of the Group – geographical breakdown reflecting the location of end clients	XLS
Note 2.5	Main customers
Note 2.6	Non-current assets – geographical breakdown	XLS
Part 3	Impairment of assets
Note 3.1	Impairment testing of the KGHM INTERNATIONAL LTD. Group’s assets
Note 3.2	Water rights – intangible assets not yet available for use
Part 4	Explanatory notes to the statement of profit or loss
Note 4.1	Expenses by nature	XLS
Note 4.2	Other operating income and (costs)	XLS
Note 4.3	Finance income and (costs)	XLS
Note 4.4	Recognition/ reversal of impairment losses on assets recognised in the statement of profit or loss	XLS
Part 5	Taxation
Note 5.1	Income tax in the consolidated statement of profit or loss	XLS
Note 5.1.1	Deferred income tax	XLS
Note 5.2	Other taxes	XLS
Note 5.3	Tax assets and liabilities	XLS
Part 6	Involvement in joint ventures
Note 6.1	Joint ventures accounted for using the equity method	XLS
Note 6.2	Loans granted to joint ventures (Sierra Gorda S.C.M.)	XLS
Part 7	Financial instruments and financial risk management
Note 7.1	Financial Instruments	XLS
Note 7.2	Derivatives	XLS
Note 7.3	Other financial instruments measured at fair value	XLS
Note 7.4	Other financial instruments measured at amortised cost	XLS
Note 7.5	Financial risk management
Note 7.5.1	Market risk
Note 7.5.1.1	Principles and techniques of market risk management
Note 7.5.1.2	Commodity risk
Note 7.5.1.3	Risk of changes in foreign exchange rates
Note 7.5.1.4	Interest rate risk
Note 7.5.1.5	Impact of hedge accounting on the financial statements
Note 7.5.2	Credit risk
Note 7.5.2.1	Credit risk related to cash, cash equivalents and bank deposits
Note 7.5.2.2	Credit risk related to derivative transactions
Note 7.5.2.3	Credit risk related to trade receivables
Note 7.5.2.4	Credit risk related to loans granted to the joint venture Sierra Gorda S.C.M.
Note 7.5.2.5	Credit risk related to other financial assets
Part 8	Borrowings and the management of liquidity and capital
Note 8.1	Capital management policy	XLS
Note 8.2	Equity
Note 8.2.1	Share capital
Note 8.2.2	Changes of other equity items	XLS
Note 8.3	Liquidity management policy
Note 8.3.1	Contractual maturities for financial liabilities	XLS
Note 8.4	Borrowings
Note 8.4.1	Net debt	XLS
Note 8.4.2	Net debt changes	XLS
Note 8.4.3	Detailed information concerning the main sources of borrowings
Note 8.5	Cash and cash equivalents	XLS
Note 8.6	Contingent liabilities due to guarantees granted
Part 9	Non-current assets and related liabilities
Note 9.1	Mining and metallurgical property, plant and equipment and intangible assets	XLS
Note 9.1.1	Mining and metallurgical property, plant and equipment– major fixed assets under construction	XLS
Note 9.1.2	Exploration and evaluation assets
Note 9.1.3	Expenses related to mining and metallurgical assets	XLS
Note 9.2	Other property, plant and equipment and intangible assets	XLS
Note 9.3	Depreciation/amortisation	XLS
Note 9.4	Provision for decommissioning costs of mines and other facilities	XLS
Note 9.5	Capitalised borrowing costs
Part 10	Working capital
Note 10.1	Inventories	XLS
Note 10.2	Trade receivables	XLS
Note 10.3	Trade payables	XLS
Note 10.4	Changes in working capital	XLS
Part 11	Employee benefits
Note 11.1	Employee benefits liabilities	XLS
Note 11.2	Changes in liabilities related to future employee benefits programs	XLS
Part 12	Other notes
Note 12.1	Related party transactions	XLS
Note 12.2	Dividends paid
Note 12.3	Other assets	XLS
Note 12.4	Other liabilities	XLS
Note 12.5	Assets and liabilities not recognised in the statement of financial position	XLS
Note 12.6	Capital commitments related to property, plant and equipment and intangible assets	XLS
Note 12.7	The right of perpetual usufruct of land
Note 12.8	Employment structure	XLS
Note 12.9	Other adjustments in the statement of cash flows	XLS
Note 12.10	Remuneration of key managers
Note 12.11	Remuneration of the entity entitled to audit the financial statements and of entities related to it in PLN thousands
Note 12.12	Composition of the Group
Note 12.13	Subsequent events after the reporting period
Part 13	Quarterly financial information of the Group
Note 13.1	Expenses by nature
Note 13.2	Other operating income and (costs)
Note 13.3	Finance income/(costs)

Znacznik

Nazwa

Pobierz

Part 1

General information

Note 1.1

Corporate information

Note 1.2

Basis of preparation and presentation

Note 1.3

Impact of new and amended standards and interpretations

Note 1.4

Published standards and interpretations, which are not yet in force and were not applied earlier by the Group

Part 2

Information on segments and revenues

Note 2.1

Operating segments

Note 2.2

Financial results of reporting segments

XLS

Note 2.3

Revenues from contracts with customers of the Group – breakdown by products

XLS

Note 2.4

Revenues from contracts with customers of the Group – geographical breakdown reflecting the location of end clients

XLS

Note 2.5

Main customers

Note 2.6

Non-current assets – geographical breakdown

XLS

Part 3

Impairment of assets

Note 3.1

Impairment testing of the KGHM INTERNATIONAL LTD. Group’s assets

Note 3.2

Water rights – intangible assets not yet available for use

Part 4

Explanatory notes to the statement of profit or loss

Note 4.1

Expenses by nature

XLS

Note 4.2

Other operating income and (costs)

XLS

Note 4.3

Finance income and (costs)

XLS

Note 4.4

Recognition/ reversal of impairment losses on assets recognised in the statement of profit or loss

XLS

Part 5

Taxation

Note 5.1

Income tax in the consolidated statement of profit or loss

XLS

Note 5.1.1

Deferred income tax

XLS

Note 5.2

Other taxes

XLS

Note 5.3

Tax assets and liabilities

XLS

Part 6

Involvement in joint ventures

Note 6.1

Joint ventures accounted for using the equity method

XLS

Note 6.2

Loans granted to joint ventures (Sierra Gorda S.C.M.)

XLS

Part 7

Financial instruments and financial risk management

Note 7.1

Financial Instruments

XLS

Note 7.2

Derivatives

XLS

Note 7.3

Other financial instruments measured at fair value

XLS

Note 7.4

Other financial instruments measured at amortised cost

XLS

Note 7.5

Financial risk management

Note 7.5.1

Market risk

Note 7.5.1.1

Principles and techniques of market risk management

Note 7.5.1.2

Commodity risk

Note 7.5.1.3

Risk of changes in foreign exchange rates

Note 7.5.1.4

Interest rate risk

Note 7.5.1.5

Impact of hedge accounting on the financial statements

Note 7.5.2

Credit risk

Note 7.5.2.1

Credit risk related to cash, cash equivalents and bank deposits

Note 7.5.2.2

Credit risk related to derivative transactions

Note 7.5.2.3

Credit risk related to trade receivables

Note 7.5.2.4

Credit risk related to loans granted to the joint venture Sierra Gorda S.C.M.

Note 7.5.2.5

Credit risk related to other financial assets

Part 8

Borrowings and the management of liquidity and capital

Note 8.1

Capital management policy

XLS

Note 8.2

Equity

Note 8.2.1

Share capital

Note 8.2.2

Changes of other equity items

XLS

Note 8.3

Liquidity management policy

Note 8.3.1

Contractual maturities for financial liabilities

XLS

Note 8.4

Borrowings

Note 8.4.1

Net debt

XLS

Note 8.4.2

Net debt changes

XLS

Note 8.4.3

Detailed information concerning the main sources of borrowings

Note 8.5

Cash and cash equivalents

XLS

Note 8.6

Contingent liabilities due to guarantees granted

Part 9

Non-current assets and related liabilities

Note 9.1

Mining and metallurgical property, plant and equipment and intangible assets

XLS

Note 9.1.1

Mining and metallurgical property, plant and equipment– major fixed assets under construction

XLS

Note 9.1.2

Exploration and evaluation assets

Note 9.1.3

Expenses related to mining and metallurgical assets

XLS

Note 9.2

Other property, plant and equipment and intangible assets

XLS

Note 9.3

Depreciation/amortisation

XLS

Note 9.4

Provision for decommissioning costs of mines and other facilities

XLS

Note 9.5

Capitalised borrowing costs

Part 10

Working capital

Note 10.1

Inventories

XLS

Note 10.2

Trade receivables

XLS

Note 10.3

Trade payables

XLS

Note 10.4

Changes in working capital

XLS

Part 11

Employee benefits

Note 11.1

Employee benefits liabilities

XLS

Note 11.2

Changes in liabilities related to future employee benefits programs

XLS

Part 12

Other notes

Note 12.1

Related party transactions

XLS

Note 12.2

Dividends paid

Note 12.3

Other assets

XLS

Note 12.4

Other liabilities

XLS

Note 12.5

Assets and liabilities not recognised in the statement of financial position

XLS

Note 12.6

Capital commitments related to property, plant and equipment and intangible assets

XLS

Note 12.7

The right of perpetual usufruct of land

Note 12.8

Employment structure

XLS

Note 12.9

Other adjustments in the statement of cash flows

XLS

Note 12.10

Remuneration of key managers

Note 12.11

Remuneration of the entity entitled to audit the financial statements and of entities related to it in PLN thousands

Note 12.12

Composition of the Group

Note 12.13

Subsequent events after the reporting period

Part 13

Quarterly financial information of the Group

Note 13.1

Expenses by nature

Note 13.2

Other operating income and (costs)

Note 13.3

Finance income/(costs)

Financial Statements

PDF Version

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Chapters

KGHM Group and Our World

How we create value

Management principles

Our Strategy

Risk Management

Human Resources management

Activities on behalf of society

Activities on behalf of the natural environment

Operations and results in 2018

Outlook

Separate financial statements

Consolidated financial statements

Explanatory notes