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The following table provides a reconciliation of attributable production cost of sales per ounce sold on a by-product basis for the periods presented:
---------------------------------------------------------------------------- Attributable Cost of Sales from Continuing Operations Per Ounce Sold on a By-Product Basis ------------------------(in millions, except ounces and production cost of Three months ended sales per ounce) March 31, ------------------------ 2013 2012 ------------------------Production cost of sales from continuing operations - as reported(1) $ 475.7 $ 451.7Less: portion attributable to Chirano non- controlling interest (5.1) (5.4)Less: attributable silver sales from continuing operations (61.9) (83.7) ------------------------Attributable production cost of sales from continuing operations net of silver by-product revenue $ 408.7 $ 362.6 ------------------------ ------------------------Gold ounces sold from continuing operations 613,683 561,152Less: portion attributable to Chirano non- controlling interest (6,916) (7,800) ------------------------Attributable gold ounces sold from continuing operations 606,767 553,352 ------------------------ ------------------------Attributable production cost of sales from continuing operations per ounce sold on a by- product basis $ 674 $ 655 ----------------------------------------------------------------------------------------------------(1) "Production cost of sales" is equivalent to "Total cost of sales" per the interim financial statements less depreciation, depletion and amortization and impairment charges.
All-in sustaining cost - attributable is a non-GAAP measure that the Company has defined to include attributable production cost of sales from continuing operations net of silver by-product credits; general and administrative expenses; sustaining business development and exploration costs; sustaining capital (including related capitalized interest); and a portion of other operating costs. Management uses this measure internally and believes that it provides investors with the ability to better evaluate the cost of sustaining gold production.
---------------------------------------------------------------------------- Attributable All-in Sustaining Cost from Continuing Operations Per Ounce Sold on a By- Product Basis ------------------------ Three months ended March 31, ------------------------(in millions, except ounces and production cost of sales per ounce) 2013 2012 ------------------------Production cost of sales from continuing operations - as reported(1) $ 475.7 $ 451.7Less: portion attributable to Chirano non- controlling interest (5.1) (5.4)Less: attributable silver sales from continuing operations (61.9) (83.7) ------------------------Attributable production cost of sales from continuing operations net of silver by-product revenue $ 408.7 $ 362.6 ------------------------ ------------------------Adjusting items on an attributable basis: General and administrative 39.5 39.7 Exploration and business development - sustaining 30.2 55.4 Other operating expense - sustaining 15.3 7.9 Additions to property, plant and equipment - sustaining 133.5 181.3 Capitalized interest and exploration 2.8 6.3 ------------------------All-in Sustaining Cost - attributable $ 630.0 $ 653.2 ------------------------ ------------------------Gold ounces sold from continuing operations 613,683 561,152Less: portion attributable to Chirano non- controlling interest (6,916) (7,800) ------------------------Attributable gold ounces sold from continuing operations 606,767 553,352 ------------------------ ------------------------Attributable all-in sustaining cost from continuing operations per ounce sold on a by-product basis $ 1,038 $ 1,180----------------------------------------------------------------------------(1) "Production cost of sales" is equivalent to "Total cost of sales" per the interim financial statements less depreciation, depletion and amortization and impairment charges.
