8
ANGLOGOLD ASHANTI LIMITED
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED
SEPTEMBER 30, 2007 …continued
Prepared in accordance with US GAAP
Note H. Discontinued operations (continued)
Nine months ended September 30,
2007
2006
(unaudited)
(unaudited)
(in US Dollars, millions, except for share data)
Per
share
(1)(2)
(cents)
Per
share
(2)
(cents)
Revenue
1
-
3
1
Costs, expenses and recoveries
(2)
-
2
1
Pre-tax profit
(1)
-
5
2
Taxation
(3)
(1)
(3)
(1)
Net (loss)/profit attributable to discontinued operations
(4)
(1)
2
1
(1)
Per basic and diluted ordinary and E ordinary shares.
(2)
Basic and diluted (loss)/earnings per common share. The calculation of diluted (loss)/earnings per
common share for the nine months ended September 30, 2007 and 2006 did not assume the effect of
15,384,615 shares, issuable upon the exercise of Convertible Bonds as their effects are anti-dilutive
for these periods. The calculation of diluted (loss)/earnings per common share for the nine months
ended September 30, 2007 and 2006 did not assume the effect of 833,584 and 124,674 shares,
respectively, issuable upon the exercise of stock incentive options as their effects are anti-dilutive for
these periods. The calculation of diluted loss per common share for the nine months ended
September 30, 2007 did not assume the effect of conversion of E Ordinary shares as the Company
recorded a loss from continuing operations during this period.
Note I. Stock-based compensation plans
As at September 30, 2007, the Company has five stock-based employee compensation plans consisting of
time-based awards (TRO), performance related awards (PRO), Bonus Share Plan awards (BSP), Long-
Term Incentive Plan awards (LTIP) and the Employee Share Ownership Plan (ESOP). During the nine
months ended September 30, 2007 and 2006 the Company recognized a compensation expense of
$25 million (net of $1 million income tax benefit) and $5 million (net of $ nil million income tax benefit),
respectively, related to stock based compensation plans in accordance with the provisions of SFAS123(R).
The following table summarizes activity for stock options (PRO, TRO) outstanding as of September 30, 2007:
2007
2007
Options
(000)
Weighted-
average
exercise price
Rand
Outstanding at beginning of year
3,059
229
Granted
13
239
Exercised
(672)
235
Forfeited (terminations)
(60)
244
Outstanding at September 30, 2007
2,340
227
Options exercisable at September 30, 2007
1,460
226
As of September 30, 2007, there was $1 million of total unrecognized compensation cost related to
unvested stock options.
The following table summarizes activity for equity settled compensation awards (BSP, LTIP) outstanding as
of September 30, 2007:
2007
Awards
(000)
Outstanding at beginning of year
1,142
Granted
618
Exercised
(6)
Forfeited (terminations)
(57)
Outstanding at September 30, 2007
1,697
Awards exercisable at September 30, 2007
-
As of September 30, 2007, there was $23 million of total unrecognized compensation cost related to
unvested stock awards. These awards have no exercise price.
The following table summarizes activity for the ESOP as of September 30, 2007:
E Ordinary Shares outstanding as of September 30, 2007:
2007
2007
Options
(000)
Weighted-
average
exercise price
Rand
Outstanding at beginning of year
2,786
289
Granted
-
-
Exercised
(108)
296
Forfeited (terminations)
-
-
Outstanding at September 30, 2007
2,678
302
Options exercisable at September 30, 2007
-
-