ArcelorMittal South Africa
49
Annual Report 2008
Supplementary information
Definitions
➧
Headline earnings basis
Earnings attributable to ordinary shareholders
adjusted for profits and losses on items of a
capital nature recognising the taxation and
minority impacts on these adjustments divided
by the weighted average number of ordinary
shares in issue during the year.
Cash and cash equivalents
Cash and cash equivalents include cash on
hand, deposits held at call with banks, and other
short-term highly liquid investments with original
maturities of three months or less, which are
subject to an insignificant risk of changes in value.
➧
Diluted earnings basis
Earnings attributable to ordinary shareholders
divided by the weighted average number
of ordinary shares in issue during the year
increased by the number of additional ordinary
shares that would have been outstanding
assuming the conversion of all dilutive potential
ordinary shares.
Current ratio
Current assets divided by current liabilities. Current
liabilities include short‑term borrowings and
interest‑free liabilities other than deferred taxation.
Dividend cover
Headline earnings per ordinary share divided by
dividends per ordinary share.
Financial cost cover
Net operating profit divided by net financing costs.
Dividend yield
Dividends per ordinary share divided by the
year‑end share price at the JSE Limited.
Financial gearing (debt:equity ratio)
Interest-bearing debt less cash and cash
equivalents as a percentage of total shareholders’
equity.
Earnings per ordinary share
➧
Attributable earnings basis
Basic earnings attributable to ordinary
shareholders divided by the weighted average
number of ordinary shares in issue during the
year.
Headline earnings yield
Headline earnings per ordinary share divided by the
year‑end share price at the JSE Limited.
