3. Profit for the financial year
The table below analyses the contribution of each business segment to the Group’s operating profit including operating profit from associates for the financial year and its underlying earnings, which the directors consider to be a useful additional measure of the Group’s performance. A reconciliation from ‘Profit for the financial year’ to ‘Underlying earnings for the financial year’ is given in note 12.
In 2007 Copebrás and Yang Quarry have been reclassified from Industrial Minerals to Base Metals and from Industrial Minerals to Coal, respectively. This is to align with internal management reporting. The comparative data has been reclassified.
Group operating profit including operating profit from associates is reconciled to ‘Underlying earnings’ and ‘Profit for the financial year attributable to equity shareholders of the Company’ in the table below:
| 2007 | |||||||
|---|---|---|---|---|---|---|---|
| US$ million | Operating profit/(loss) before special items and remeasure- ments(1) |
Operating profit/(loss) after special items and remeasure- ments | Operating special items and remeasure- ments(2) | Net profit on disposals(2) | Financing special items and remeasure- ments(2) | Net interest, tax and minority interests | Total |
| By business segment | |||||||
| Platinum | 2,697 | 2,697 | – | – | – | (1,398) | 1,299 |
| Diamonds | 484 | 19 | 465 | – | – | (245) | 239 |
| Coal | 614 | 473 | 141 | – | – | (124) | 490 |
| Base Metals | 4,338 | 4,338 | – | – | – | (1,238) | 3,100 |
| Ferrous Metals and Industries | 1,432 | 1,435 | (3) | – | – | (827) | 605 |
| Industrial Minerals | 474 | 407 | 67 | – | – | (90) | 384 |
| Exploration | (157) | (157) | – | – | – | 12 | (145) |
| Corporate Activities | (292) | (333) | 41 | – | – | (203) | (495) |
| Total/Underlying earnings – continuing operations | 9,590 | 8,879 | 711 | – | – | (4,113) | 5,477 |
| Underlying earnings adjustments – continuing operations | (711) | 484 | 25 | 19 | (183) | ||
| Profit for the financial year attributable to equity shareholders of the Company – continuing operations | 5,294 | ||||||
| Total/Underlying earnings – discontinued operations | 526 | 291 | 235 | – | – | (242) | 284 |
| Underlying earnings adjustments – discontinued operations | (235) | 2,086 | 13 | (138) | 1,726 | ||
| Profit for the financial year attributable to equity shareholders of the Company – discontinued operations | 2,010 | ||||||
| Total/Underlying earnings – total Group | 10,116 | 9,170 | 946 | – | – | (4,355) | 5,761 |
| Underlying earnings adjustments – total Group | (946) | 2,570 | 38 | (119) | 1,543 | ||
| Profit for the financial year attributable to equity shareholders of the Company – total Group | 7,304 | ||||||
(1) Operating profit includes associates' operating profit which is reconciled to 'Share of net income from associates' in note 2.
(2) Special items and remeasurements are set out in note 7.
| 2006 | |||||||
|---|---|---|---|---|---|---|---|
| US$ million | Operating profit/(loss) before special items and remeasure- ments(1) | Operating profit/(loss) after special items and remeasure- ments | Operating special items and remeasure- ments(2) | Net profit on disposals(2) | Financing special items and remeasure- ments(2) | Net interest, tax and minority interests | Total |
| By business segment | |||||||
| Platinum | 2,398 | 2,398 | – | – | – | (1,133) | 1,265 |
| Diamonds | 463 | 446 | 17 | – | – | (236) | 227 |
| Coal | 862 | 709 | 153 | – | – | (225) | 637 |
| Base Metals | 3,897 | 3,905 | (8) | – | – | (1,242) | 2,655 |
| Ferrous Metals and Industries | 1,360 | 1,381 | (21) | – | – | (777) | 583 |
| Industrial Minerals | 317 | 48 | 269 | – | – | (56) | 261 |
| Exploration | (132) | (132) | – | – | – | 19 | (113) |
| Corporate Activities | (277) | (290) | 13 | – | – | (219) | (496) |
| Total/Underlying earnings – continuing operations | 8,888 | 8,465 | 423 | – | – | (3,869) | 5,019 |
| Underlying earnings adjustments – continuing operations | (423) | 447 | 40 | 66 | 130 | ||
| Profit for the financial year attributable to equity shareholders of the Company – continuing operations | 5,149 | ||||||
| Total/Underlying earnings – discontinued operations | 944 | 376 | 568 | – | – | (492) | 452 |
| Underlying earnings adjustments – discontinued operations | (568) | 920 | (14) | 247 | 585 | ||
| Profit for the financial year attributable to equity shareholders of the Company – discontinued operations |
1,037 | ||||||
| Total/Underlying earnings – total Group | 9,832 | 8,841 | 991 | – | – | (4,361) | 5,471 |
| Underlying earnings adjustments – total Group | (991) | 1,367 | 26 | 313 | 715 | ||
| Profit for the financial year attributable to equity shareholders of the Company – total Group | 6,186 | ||||||
(1) Operating profit includes associates' operating profit which is reconciled to 'Share of net income from associates' in note 2.
(2) Special items and remeasurements are set out in note 7.