Provide a statement of financial position of Barrick Gold without the merger before the consolidation with NEM.
Question:
Provide a statement of financial position of Barrick Gold without the merger before the consolidation with NEM.
The following is an article that appeared in the newspaper on March 11, 2019: Barrick Gold withdraws its hostile takeover bid for Newmont. This article mentions that Barrick Gold (ABX:CA) will hold 61.5% of the shares of Newmont Mining Corp. Holding Co (NEM), a transaction that closed on July 1, 2019. Below is a summary of the market value of the mines acquired by Barrick Gold along with the consolidated statement of financial position as of December 31, 2019.
Ignoring any transactions and investments other than this one in 2019, you should prepare the statement of financial position of Barrick Gold without the merger with before the consolidation with NEM. You do not need to consider any other additional information to complete the second part of Assignment 2. Remember to include your steps as presented in class.
Consolidated statement of financial position as of December 31
Current assets: 6887$
Long term stocks: 2300$
Net tangible fixed assets: 24141$
Intangible assets: 226$
Goodwill: 4769$
Other non-current assets: 6069$
Non-current assets: 37505$
Total assets: 44392$
Current liabilities : 2376$
Non-current deferred tax liabilities : 3091$
Provisions : 3114$
Other non-current liabilities: 5984$
Non-current liabilities: 12189$
Total liabilities: 14565$
Capital stock : 29231$
Undistributed result : (9722$)
Gains or losses not affecting retained earnings : (122$)
Other equity securities: 2045$
Non-controlling interests in a subsidiary: 8395$
Total equity: 29827$
Liabilities and Equity: 44392$
Fair value of the non-controlling interest in mines sold by Barrick: 3897 million of dollars $
Final distribution of the fair value of the mines acquired from Newmont:
current assets: 149 million of dollars $
long-term stocks: 970 million of dollars $
net property, plant and equipment: 3534 millions of dollars $
goodwill: 2520 million of dollars $
total assets: 7173 million of dollars $
current liabilities: 119 millions of dollars $
non-current deferred tax liability: 268 million of dollars $
provisions: 449 million of dollars $
total liabilities: 836 million of dollars $
non-controlling interest: 2440 million of dollars $
net-assets acquired: 3897 million of dollars $
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield