ANNUAL REPORT 2011 CONTENTS OF THE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 45 1  Summary of significant accounting policies  46 2  Critical accounting estimates and judgements  58 3  Segment information 59 4  Other income  61 5 Expenses 61 6  Income tax expense  61 7  Cash and cash equivalents  62 8 Receivables 62 9 Inventories 63 10  Other assets  63 11  Investments accounted for using the equity method  64 12  Property, plant and equipment  66 13  Exploration and evaluation expenditure  67 14  Payables and provisions  67 15  Derivative financial instruments  68 16 Borrowings 68 17  Financial risk management  69 18  Issued capital and reserves  75 19  Accumulated losses  76 20  Key management personnel disclosures  77 21  Remuneration of auditors  79 22 Contingencies 79 23 Commitments 80 24  Related party transactions  80 25 Subsidiaries 81 26  Events occurring after the end of the reporting period  81 27  Reconciliation of profit after income tax to net cash flow from operating activities  82 28  Earnings per share  82 29  Share based payments  83 30  Parent entity disclosures  85