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CHAPTER 5:Earnings

5.3

Reconciliation of headline earnings

 
Group 
For the year ended 31 December 2020  Gross 
Rm
 
Tax 
Rm
 
NCI 
Rm
 
Net 
Rm
 
Profit attributable to owners of the parent  7 283 
Adjusted for:  560  (258) (168) 134 
IFRS 11 Gain on disposal of joint operation  (17)    (13)
IAS 16 Gain on transfer of operation  (4)    (3)
IAS 16 Net losses on disposal of property, plant and equipment  92  (29) (14) 49 
IAS 16 Compensation from third parties for items of property, plant and equipment impaired, abandoned or lost  (18) (10)
IAS 21 Net gains on translation differences recycled to profit or loss on deregistration and liquidation of foreign entities  (103)    23  (80)
IAS 21 Net gains on translation differences recycled to profit or loss on disposal of associate  (13)    (10)
IAS 28 Losses on dilution of investments in associate  20     (5) 15 
IAS 28 Net gain on deemed disposal of JV  (1 321)    298  (1 023)
IAS 28 Share of equity-accounted investments' separately identifiable remeasurements  42  (10) 34 
IAS 36 Net impairment charges of non-current assets  1 882  (236) (471) 1 175 
Headline earnings  7 417 
Continuing operations  7 348 
Discontinued operations  69 

 

                 
For the year ended 31 December 2019 (Re-presented)1  Gross 
Rm
 
Tax 
Rm
 
NCI 
Rm
 
Net 
Rm
 
  
Profit attributable to owners of the parent  9 809    
Adjusted for:  (2 286) 62  14  (2 210)   
IFRS 10 Loss on loss of control of subsidiary  35        35    
IAS 16 Gain on disposal of operation  (76)    17  (59)   
IAS 16 Net gains on disposal of property, plant and equipment     (3) (3) (6)   
IAS 16 Compensation from third parties for items of property, plant and equipment impaired, abandoned or lost  (49) 14  (27)   
IAS 21 Net gains on translation differences recycled to profit or loss on partial disposal of associate  (832)       (832)   
IAS 21 Net gains on translation differences recycled to profit or loss on dilution of associates  (1)       (1)   
IAS 21 Net gains on translation differences recycled to profit or loss on liquidation of foreign subsidiary  (10)       (10)   
IAS 21 Net loss on translation differences recycled to profit or loss on deregistration of foreign entity     (1)   
IAS 28 Losses on dilution of investments in associates  42        42    
IAS 28 Net gains on disposal of associates2  (1 504) 65     (1 439)   
IAS 28 Share of equity-accounted investments' separately identifiable remeasurements  71  (14) (12) 45    
IAS 36 Net impairment charges of non-current assets  35     40    
Headline earnings  7 599    
Continuing operations  7 488    
Discontinued operations  111    
1 Refer note 18.3.
2 Includes a gain of R1 234 million on the partial disposal of Tronox Holdings plc and a gain of R270 million on the redemption of the membership interest in Tronox UK.