EX-4.4



 Exhibit 4.4 

 
 



 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS AT MARCH 31, 2013 
  

					
	 Consolidated balance sheets
	  	 	34	  
		
	 Consolidated statements of earnings
	  	 	35	  
		
	 Consolidated statements of comprehensive income
	  	 	36	  
		
	 Consolidated statements of changes in equity
	  	 	37	  
		
	 Consolidated statements of cash flows
	  	 	38	  
		
	 Notes to consolidated interim financial statements
	  	 	39 to 60	  


  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 33 








 CONSOLIDATED BALANCE SHEETS 

 

															
	 (Unaudited)
 (In millions of U.S. dollars)
	  	Notes	 	March 31,
2013	 	  	December 
31,
20121	 	  	January 
1,
20121	 
	 Assets
	  		 				  				  			
	 Current assets
	  		 				  				  			
	 Cash and cash equivalents
	  		 	$	648.0	  	  	$	797.3	  	  	$	1,046.7	  
	 Gold bullion (market value $215.3; December 31, 2012 - $223.3)
	  	4	 	 	96.9	  	  	 	96.9	  	  	 	96.8	  
	 Income tax receivable
	  		 	 	25.2	  	  	 	25.0	  	  	 	26.3	  
	 Receivables and other current assets
	  	5	 	 	168.9	  	  	 	185.1	  	  	 	111.6	  
	 Inventories
	  	6	 	 	289.3	  	  	 	259.5	  	  	 	192.3	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		 	 	1,228.3	  	  	 	1,363.8	  	  	 	1,473.7	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Non-current assets
	  		 				  				  			
	 Deferred income tax assets
	  	7	 	 	59.2	  	  	 	55.4	  	  	 	41.4	  
	 Investments in associates and joint ventures
	  	8	 	 	152.3	  	  	 	164.1	  	  	 	106.1	  
	 Mining assets
	  	9	 	 	2,788.3	  	  	 	2,618.0	  	  	 	1,819.5	  
	 Exploration and evaluation assets
	  		 	 	533.3	  	  	 	533.3	  	  	 	356.5	  
	 Goodwill
	  		 	 	256.7	  	  	 	256.7	  	  	 	256.7	  
	 Other assets
	  	10	 	 	264.4	  	  	 	304.3	  	  	 	247.7	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		 	 	4,054.2	  	  	 	3,931.8	  	  	 	2,827.9	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		 	$	5,282.5	  	  	$	5,295.6	  	  	$	4,301.6	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Liabilities and Equity
	  		 				  				  			
	 Current liabilities
	  		 				  				  			
	 Accounts payable and accrued liabilities
	  		 	$	227.6	  	  	$	219.4	  	  	$	173.4	  
	 Income tax payable
	  		 	 	82.9	  	  	 	60.2	  	  	 	100.3	  
	 Dividends payable
	  		 	 	—  	  	  	 	48.6	  	  	 	47.0	  
	 Current portion of provisions
	  	15	 	 	6.0	  	  	 	5.9	  	  	 	3.7	  
	 Other liabilities
	  		 	 	1.4	  	  	 	1.1	  	  	 	6.6	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		 	 	317.9	  	  	 	335.2	  	  	 	331.0	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Non-current liabilities
	  		 				  				  			
	 Deferred income tax liabilities
	  	7	 	 	281.5	  	  	 	281.5	  	  	 	245.1	  
	 Long-term debt
	  	11(a)	 	 	639.2	  	  	 	638.8	  	  	 	—  	  
	 Provisions
	  	15	 	 	230.2	  	  	 	235.0	  	  	 	196.3	  
	 Other liabilities
	  		 	 	2.1	  	  	 	0.3	  	  	 	0.3	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		 	 	1,153.0	  	  	 	1,155.6	  	  	 	441.7	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		 	 	1,470.9	  	  	 	1,490.8	  	  	 	772.7	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Equity
	  		 				  				  			
	 Equity attributable to IAMGOLD Corporation shareholders
	  		 				  				  			
	 Common shares
	  	16	 	 	2,316.1	  	  	 	2,315.8	  	  	 	2,308.6	  
	 Contributed surplus
	  		 	 	29.2	  	  	 	26.7	  	  	 	19.9	  
	 Retained earnings
	  		 	 	1,354.1	  	  	 	1,343.2	  	  	 	1,104.9	  
	 Accumulated other comprehensive income
	  		 	 	29.1	  	  	 	42.4	  	  	 	41.1	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		 	 	3,728.5	  	  	 	3,728.1	  	  	 	3,474.5	  
	 Non-controlling interests
	  		 	 	83.1	  	  	 	76.7	  	  	 	54.4	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		 	 	3,811.6	  	  	 	3,804.8	  	  	 	3,528.9	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Contingencies and commitments
	  	15(b), 24	 				  				  			
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  		 	$	5,282.5	  	  	$	5,295.6	  	  	$	4,301.6	  
		  		 	  
	  
	 	  	  
	  
	 	  	  
	  
	 

  

	1 	 Balances have been reclassified as per note 2(c)(ii). 


 The accompanying notes are an integral part of these unaudited consolidated interim financial statements. 

  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 34 








 CONSOLIDATED STATEMENTS OF EARNINGS

  

											
	(Unaudited)	  	 	  	Three months ended March 31,	 
	 (In millions of U.S. dollars, except per share amounts)
	  	Notes	  	2013	 	 	20121	 
	 Revenues
	  		  	$	305.3	  	 	$	354.1	  
		  		  	  
	  
	 	 	  
	  
	 
	 Cost of sales
	  	19	  	 	184.4	  	 	 	178.8	  
	 General and administrative expenses
	  	20	  	 	12.7	  	 	 	12.7	  
	 Exploration expenses
	  		  	 	22.1	  	 	 	19.5	  
		  		  	  
	  
	 	 	  
	  
	 
	 Other
	  		  	 	(2.1	) 	 	 	(2.4	) 
		  		  	  
	  
	 	 	  
	  
	 
	 Operating costs
	  		  	 	217.1	  	 	 	208.6	  
	 Earnings from operations
	  		  	 	88.2	  	 	 	145.5	  
	 Share of net earnings from investments in associates and joint ventures (net of income tax)
	  	8	  	 	6.8	  	 	 	10.2	  
	 Finance costs
	  	21	  	 	(9.1	) 	 	 	(2.6	) 
	 Foreign exchange gains (losses)
	  		  	 	(1.6	) 	 	 	11.1	  
	 Interest income and derivatives and other investment gains (losses)
	  	22	  	 	(31.0	) 	 	 	14.6	  
		  		  	  
	  
	 	 	  
	  
	 
	 Earnings before income tax expense
	  		  	 	53.3	  	 	 	178.8	  
	 Income taxes
	  	7	  	 	(36.0	) 	 	 	(49.8	) 
		  		  	  
	  
	 	 	  
	  
	 
	 Net earnings
	  		  	$	17.3	  	 	$	129.0	  
		  		  	  
	  
	 	 	  
	  
	 
	 Net earnings attributable to
	  		  				 			
	 Equity holders of IAMGOLD Corporation
	  		  	$	10.9	  	 	$	119.2	  
	 Non-controlling interests
	  		  	 	6.4	  	 	 	9.8	  
		  		  	  
	  
	 	 	  
	  
	 
		  		  	$	17.3	  	 	$	129.0	  
		  		  	  
	  
	 	 	  
	  
	 
	 Attributable to equity holders of IAMGOLD Corporation
	  		  				 			
	 Weighted average number of common shares outstanding (in millions)
	  	17	  				 			
	 Basic
	  		  	 	376.6	  	 	 	376.0	  
	 Diluted
	  		  	 	376.9	  	 	 	376.8	  
	 Earnings per share ($ per share)
	  		  				 			
	 Basic
	  		  	$	0.03	  	 	$	0.32	  
	 Diluted
	  		  	$	0.03	  	 	$	0.32	  
		  		  	  
	  
	 	 	  
	  
	 

  

	1 	 Balances have been reclassified as per note 2(c)(ii). 


 The accompanying notes are an integral part of these unaudited consolidated interim financial statements. 

  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 35 








 CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME 
  

											
	(Unaudited)	  	 	  	Three months ended March 31,	 
	 (In millions of U.S. dollars)
	  	Notes	  	2013	 	 	2012	 
	 Net earnings
	  		  	$	17.3	  	 	$	129.0	  
		  		  	  
	  
	 	 	  
	  
	 
	 Other comprehensive income (loss), net of tax
	  		  				 			
	 Net unrealized change in fair value of available-for-sale financial assets, net of tax
	  	12(a)(i)	  	 	(18.0	) 	 	 	9.2	  
	 Net realized change in fair value and impairment of available-for-sale financial assets, net of tax
	  	12(a)(i)	  	 	4.7	  	 	 	(0.9	) 
		  		  	  
	  
	 	 	  
	  
	 
	 Total other comprehensive income (loss)
	  		  	 	(13.3	) 	 	 	8.3	  
		  		  	  
	  
	 	 	  
	  
	 
	 Comprehensive income
	  		  	$	4.0	  	 	$	137.3	  
		  		  	  
	  
	 	 	  
	  
	 
				
	 Comprehensive income attributable to
	  		  				 			
	 Equity holders of IAMGOLD Corporation
	  		  	$	(2.4	) 	 	$	127.5	  
	 Non-controlling interests
	  		  	 	6.4	  	 	 	9.8	  
		  		  	  
	  
	 	 	  
	  
	 
		  		  	$	4.0	  	 	$	137.3	  
		  		  	  
	  
	 	 	  
	  
	 

 The accompanying notes are an integral part of these unaudited consolidated interim financial statements.


  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 36 








 CONSOLIDATED STATEMENTS OF CHANGES
IN EQUITY 
  

											
	(Unaudited)	  	 	  	Three months ended March 31,	 
	 (In millions of U.S. dollars)
	  	Notes	  	2013	 	 	2012	 
	 Common shares
	  		  				 			
	 Balance, beginning of the period
	  		  	$	2,315.8	  	 	$	2,308.6	  
	 Issued shares on exercise of share-based payments
	  		  	 	0.3	  	 	 	1.9	  
		  		  	  
	  
	 	 	  
	  
	 
	 Balance, end of the period
	  		  	 	2,316.1	  	 	 	2,310.5	  
		  		  	  
	  
	 	 	  
	  
	 
				
	 Contributed surplus
	  		  				 			
	 Balance, beginning of the period
	  		  	 	26.7	  	 	 	19.9	  
	 Issued shares on exercise of share-based payments
	  		  	 	(0.2	) 	 	 	(0.4	) 
	 Share-based payments
	  	18	  	 	2.7	  	 	 	1.8	  
		  		  	  
	  
	 	 	  
	  
	 
	 Balance, end of the period
	  		  	 	29.2	  	 	 	21.3	  
		  		  	  
	  
	 	 	  
	  
	 
				
	 Retained earnings
	  		  				 			
	 Balance, beginning of the period
	  		  	 	1,343.2	  	 	 	1,104.9	  
	 Net earnings attributable to equity holders of IAMGOLD Corporation
	  		  	 	10.9	  	 	 	119.2	  
		  		  	  
	  
	 	 	  
	  
	 
	 Balance, end of the period
	  		  	 	1,354.1	  	 	 	1,224.1	  
		  		  	  
	  
	 	 	  
	  
	 
	 Accumulated other comprehensive income
	  		  				 			
	 Available-for-sale fair value reserve
	  		  				 			
	 Balance, beginning of the period
	  		  	 	42.4	  	 	 	41.1	  
	 Net change in fair value of available-for-sale financial assets, net of tax
	  		  	 	(13.3	) 	 	 	8.3	  
		  		  	  
	  
	 	 	  
	  
	 
	 Balance, end of the period
	  		  	 	29.1	  	 	 	49.4	  
		  		  	  
	  
	 	 	  
	  
	 
	 Equity attributable to IAMGOLD Corporation shareholders
	  		  	 	3,728.5	  	 	 	3,605.3	  
		  		  	  
	  
	 	 	  
	  
	 
				
	 Non-controlling interests
	  		  				 			
	 Balance, beginning of the period
	  		  	 	76.7	  	 	 	54.4	  
	 Net earnings attributable to non-controlling interests
	  		  	 	6.4	  	 	 	9.8	  
	 Dividends
	  		  	 	—  	  	 	 	(8.6	) 
		  		  	  
	  
	 	 	  
	  
	 
	 Balance, end of the period
	  		  	 	83.1	  	 	 	55.6	  
		  		  	  
	  
	 	 	  
	  
	 
		  		  	$	3,811.6	  	 	$	3,660.9	  
		  		  	  
	  
	 	 	  
	  
	 

 The accompanying notes are an integral part of these unaudited consolidated interim financial statements.


  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 37 








 CONSOLIDATED STATEMENTS OF CASH
FLOWS 
  

											
	(Unaudited)	  	 	  	Three months ended March 31,	 
	 (In millions of U.S. dollars)
	  	Notes	  	2013	 	 	20121	 
	 Operating activities
	  		  				 			
	 Net earnings
	  		  	$	17.3	  	 	$	129.0	  
	 Adjustments for
	  		  				 			
	 Finance costs
	  	21	  	 	9.1	  	 	 	2.6	  
	 Depreciation expense
	  		  	 	39.0	  	 	 	38.0	  
	 Changes in estimates of asset retirement obligations at closed sites
	  		  	 	(2.3	) 	 	 	(3.1	) 
	 Income tax
	  		  	 	36.0	  	 	 	49.8	  
	 Impact of unrealized foreign exchange gains on cash and cash equivalents
	  		  	 	(1.7	) 	 	 	(5.8	) 
	 Other non-cash items
	  	23(a)	  	 	29.0	  	 	 	(19.9	) 
	 Adjustments for cash items
	  	23(b)	  	 	3.1	  	 	 	0.2	  
	 Movements in non-cash working capital items and non-current ore stockpiles
	  	23(c)	  	 	(15.7	) 	 	 	(31.6	) 
		  		  	  
	  
	 	 	  
	  
	 
	 Cash generated from operating activities
	  		  	 	113.8	  	 	 	159.2	  
	 Income tax paid
	  		  	 	(14.3	) 	 	 	(10.0	) 
		  		  	  
	  
	 	 	  
	  
	 
	 Net cash from operating activities
	  		  	 	99.5	  	 	 	149.2	  
		  		  	  
	  
	 	 	  
	  
	 
	 Investing activities
	  		  				 			
	 Mining assets
	  		  				 			
	 Capital expenditures
	  		  	 	(194.7	) 	 	 	(118.2	) 
	 Sales proceeds
	  		  	 	0.4	  	 	 	0.4	  
	 Additions to exploration and evaluation assets
	  		  	 	—  	  	 	 	(0.7	) 
	 Other investing activities
	  	23(d)	  	 	(4.9	) 	 	 	(10.1	) 
		  		  	  
	  
	 	 	  
	  
	 
	 Net cash used in investing activities
	  		  	 	(199.2	) 	 	 	(128.6	) 
		  		  	  
	  
	 	 	  
	  
	 
	 Financing activities
	  		  				 			
	 Proceeds from issue of share capital
	  		  	 	0.1	  	 	 	1.5	  
	 Dividends paid
	  		  	 	(48.6	) 	 	 	(48.8	) 
	 Loans to related parties
	  		  	 	(2.0	) 	 	 	—  	  
	 Interest paid
	  		  	 	(0.8	) 	 	 	(0.8	) 
	 Other
	  		  	 	—  	  	 	 	(4.3	) 
		  		  	  
	  
	 	 	  
	  
	 
	 Net cash used in financing activities
	  		  	 	(51.3	) 	 	 	(52.4	) 
		  		  	  
	  
	 	 	  
	  
	 
	 Unrealized impact of foreign exchange on cash and cash equivalents
	  		  	 	1.7	  	 	 	5.8	  
		  		  	  
	  
	 	 	  
	  
	 
	 Decrease in cash and cash equivalents
	  		  	 	(149.3	) 	 	 	(26.0	) 
	 Cash and cash equivalents, beginning of the period
	  		  	 	797.3	  	 	 	1,046.7	  
		  		  	  
	  
	 	 	  
	  
	 
	 Cash and cash equivalents, end of the period
	  		  	$	648.0	  	 	$	1,020.7	  
		  		  	  
	  
	 	 	  
	  
	 

  

	1 	 Balances have been reclassified as per note 2(c)(ii). 


 The accompanying notes are an integral part of these unaudited consolidated interim financial statements. 

  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 38 








 NOTES TO CONSOLIDATED INTERIM
FINANCIAL STATEMENTS 
 FOR THE THREE MONTHS
ENDED MARCH 31, 2013 AND 2012 
 (Amounts in notes and in tables are in millions of
U.S. dollars, except where otherwise indicated) (Unaudited) 
  

	1.	CORPORATE INFORMATION 

 IAMGOLD Corporation (“IAMGOLD” or “the Company”) is a corporation incorporated under the Canada Business Corporations Act and domiciled in Canada whose shares are publicly
traded. The address of the Company’s registered office is 401 Bay Street, Suite 3200, Toronto, Ontario, Canada. 
 The
principal activities of the Company are the exploration, development and operation of gold mining properties, and the operation of a niobium mine. 
  

	2.	BASIS OF PREPARATION 

  

	 	(a)	Statement of compliance 


The unaudited condensed consolidated interim financial statements (“consolidated interim financial statements”) of IAMGOLD and
all its subsidiaries, joint ventures and associates, as at and for the three months ended March 31, 2013, have been prepared in accordance with IAS 34, Interim Financial Reporting, and do not include all of the information required for
full annual consolidated financial statements. Accordingly certain information and disclosures normally included in annual financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”) have been
omitted or condensed. 
 The consolidated interim financial statements of IAMGOLD were authorized for issue in accordance with a
resolution of the Board of Directors on May 7, 2013. 
 Certain 2012 comparative figures have been reclassified to conform
to the consolidated financial statement presentation adopted in 2013. Refer to note 2(c)(ii). 
  

	 	(b)	Significant accounting judgments, estimates and assumptions 

 The preparation of consolidated interim financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities and contingent
liabilities at the date of the consolidated interim financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continuously evaluated and are based on management’s experience
and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. 
  

	 	(c)	Significant accounting policies 

 These consolidated interim financial statements have been prepared following the same accounting policies and methods of computation as the annual audited consolidated financial statements for the year
ended December 31, 2012, except for the following new accounting standards and amendment to standards and interpretations, which were effective January 1, 2013, and applied in preparing these consolidated interim financial statements. The
Company evaluated the impact to its consolidated interim financial statements as a result of the new standards. These are summarized as follows: 
  

	 	(i)	IFRS 10 – Consolidated Financial Statements 

 As a result of the adoption of IFRS 10, the Company has changed its accounting policy with respect to determining whether it has control over and consequently whether it consolidates its investees.
IFRS 10 superseded IAS 27, Consolidated and Separate Financial Statements, and SIC 12, Consolidation – Special Purpose Entities. IFRS 10 retains the concept that a company should consolidate all entities that it controls,
and provides for a new definition of control. Accordingly, an investor controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power
over the investee. IFRS 10 did not have a material impact on the Company’s consolidated financial statements upon its adoption on January 1, 2013. 
 IAS 27, Separate Financial Statements, now only contains accounting and disclosure requirements for the preparation of separate financial statements, as consolidation guidance is now contained within
IFRS 10. There was no material impact on the Company’s consolidated financial statements upon adoption of the amended IAS 27 on January 1, 2013. 

  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 39 









	 	(ii)	IFRS 11 – Joint Arrangements 

 As a result of the adoption of IFRS 11, the Company has changed its accounting with respect to its interests in joint arrangements. Under IFRS 11, joint arrangements are now classified as either
joint operations or joint ventures, depending upon the rights and obligations of the parties to the arrangement. When making this assessment, the Company considers the structure of the arrangements, the legal form of any separate vehicles, the
contractual terms of the arrangements and other facts and circumstances. 
 Under IFRS 11, joint ventures are accounted for
using the equity method and joint operations are accounted for in a manner similar to proportionate consolidation. 
 The
Company reviewed its joint arrangements under IFRS 11, and concluded that Sadiola and Yatela are considered joint ventures for accounting purposes. Consequently, effective January 1, 2013, IAMGOLD began accounting for its interests in Sadiola
and Yatela using the equity method instead of proportionate consolidation. Retrospective adjustments were applied as at the beginning of the earliest period presented, January 1, 2012. On transition, the initial investment was measured as the
aggregate of the carrying amounts of the assets and liabilities that had previously been consolidated. On transition, the Company assessed the investments for indications of impairment and concluded no impairment existed. 

The following tables summarize the adjustments made to the Company’s consolidated balance sheets at January 1, 2012 and
December 31, 2012, and its consolidated statements of earnings and cash flows for the three months ended March 31, 2012 as a result of accounting for its investments in Sadiola and Yatela using the equity method instead of proportionate
consolidation. 
 Consolidated Balance Sheet 
  

													
	 	  	January 1, 2012	 
	 	  	As previously
reported	 	  	Adjustments	 	 	As restated	 
	 Assets
	  				  				 			
	 Cash and cash equivalents
	  	$	1,051.6	  	  	$	(4.9	) 	 	$	1,046.7	  
	 Receivables and other current assets
	  	 	132.3	  	  	 	(20.7	) 	 	 	111.6	  
	 Inventories
	  	 	239.1	  	  	 	(46.8	) 	 	 	192.3	  
	 Investments in associates and joint ventures
	  	 	16.3	  	  	 	89.8	  	 	 	106.1	  
	 Mining assets
	  	 	1,881.6	  	  	 	(62.1	) 	 	 	1,819.5	  
	 Other non-current assets
	  	 	295.2	  	  	 	(47.5	) 	 	 	247.7	  
		  				  	  
	  
	 	 			
	 Impact on total assets
	  				  	$	(92.2	) 	 			
		  				  	  
	  
	 	 			
	 Liabilities
	  				  				 			
	 Accounts payable and accrued liabilities
	  	$	205.6	  	  	$	(32.2	) 	 	$	173.4	  
	 Income tax payable
	  	 	109.2	  	  	 	(8.9	) 	 	 	100.3	  
	 Current portion of provisions
	  	 	6.7	  	  	 	(3.0	) 	 	 	3.7	  
	 Deferred income tax liabilities
	  	 	256.4	  	  	 	(11.3	) 	 	 	245.1	  
	 Provisions
	  	 	233.1	  	  	 	(36.8	) 	 	 	196.3	  
		  				  	  
	  
	 	 			
	 Impact on total liabilities
	  				  	$	(92.2	) 	 			
		  				  	  
	  
	 	 			


  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 40 








 Consolidated Balance Sheet 

 

													
	 	  	December 31, 2012	 
	 	  	As previously
reported	 	  	Adjustments	 	 	As restated	 
	 Assets
	  				  				 			
	 Cash and cash equivalents
	  	$	813.5	  	  	$	(16.2	) 	 	$	797.3	  
	 Receivables and other current assets
	  	 	160.6	  	  	 	24.5	  	 	 	185.1	  
	 Inventories
	  	 	305.1	  	  	 	(45.6	) 	 	 	259.5	  
	 Investments in associates and joint ventures
	  	 	56.1	  	  	 	108.0	  	 	 	164.1	  
	 Mining assets
	  	 	2,713.3	  	  	 	(95.3	) 	 	 	2,618.0	  
	 Other non-current assets
	  	 	360.3	  	  	 	(56.0	) 	 	 	304.3	  
		  				  	  
	  
	 	 			
	 Impact on total assets
	  				  	$	(80.6	) 	 			
		  				  	  
	  
	 	 			
	 Liabilities
	  				  				 			
	 Accounts payable and accrued liabilities
	  	$	252.3	  	  	$	(32.9	) 	 	$	219.4	  
	 Income tax payable
	  	 	62.2	  	  	 	(2.0	) 	 	 	60.2	  
	 Current portion of provisions
	  	 	8.9	  	  	 	(3.0	) 	 	 	5.9	  
	 Deferred income tax liabilities
	  	 	285.6	  	  	 	(4.1	) 	 	 	281.5	  
	 Provisions
	  	 	273.6	  	  	 	(38.6	) 	 	 	235.0	  
		  				  	  
	  
	 	 			
	 Impact on total liabilities
	  				  	$	(80.6	) 	 			
		  				  	  
	  
	 	 			

 Consolidated Statement of Earnings 

 

													
	 	  	Three months ended March 31, 2012	 
	 	  	As previously
reported	 	 	Adjustments	 	 	As restated	 
	 Share of net earnings from investments in associates and joint ventures (net of income tax)
	  	$	2.8	  	 	$	7.4	  	 	$	10.2	  
	 Revenues
	  	 	404.2	  	 	 	(50.1	) 	 	 	354.1	  
	 Cost of sales
	  	 	(218.7	) 	 	 	39.9	  	 	 	(178.8	) 
	 Exploration expenses
	  	 	(20.2	) 	 	 	0.7	  	 	 	(19.5	) 
	 Other operating costs
	  	 	2.5	  	 	 	(0.1	) 	 	 	2.4	  
	 Foreign exchange gains
	  	 	10.3	  	 	 	0.8	  	 	 	11.1	  
	 Income taxes
	  	 	(51.2	) 	 	 	1.4	  	 	 	(49.8	) 
		  				 	  
	  
	 	 			
	 Impact on net earnings and total comprehensive income
	  				 	$	—  	  	 			
		  				 	  
	  
	 	 			

 Consolidated Statement of Cash Flows 

 

													
	 	  	Three months ended March 31, 2012	 
	 	  	As previously
reported	 	 	Adjustments	 	 	As restated	 
	 Net cash from operating activities
	  	$	171.1	  	 	$	(21.9	) 	 	$	149.2	  
	 Net cash used in investing activities
	  	 	(142.8	) 	 	 	14.2	  	 	 	(128.6	) 
		  				 	  
	  
	 	 			
	 Impact on change in cash and cash equivalents
	  				 	$	(7.7	) 	 			
		  				 	  
	  
	 	 			


  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 41 









	 	(iii)	IFRS 12 – Disclosure of Interests in Other Entities 

 IFRS 12 replaces the existing disclosure requirements for entities that have interests in subsidiaries, joint arrangements and associates, and also contains disclosure requirements for entities that
have interests in unconsolidated structured entities. The Company will expand disclosure regarding its interest in other entities, such as information to enable users to evaluate the nature of, and risks associated with, the Company’s interests
in other entities, and the effects of those interests on its consolidated balance sheet, financial performance and cash flows in the annual consolidated financial statements. There was no material impact on the Company’s financial position or
net earnings upon adoption of IFRS 12 on January 1, 2013. 
  

	 	(iv)	IFRS 13 – Fair Value Measurement 

 IFRS 13 replaces the fair value measurement guidance contained in individual IFRS with a single source of fair value measurement guidance, and defines fair value as the price that would be received
to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There was no material impact on the Company’s consolidated financial statements upon adoption of IFRS 13 on
January 1, 2013. The Company provides IFRS 13 disclosure requirements in note 13, which helps users of its consolidated financial statements assess both of the following: 

 

	 	•	 	 For assets and liabilities that are measured at fair value on a recurring or non-recurring basis in the balance sheet after initial recognition, the
valuation techniques and inputs used to develop those measurements. 


  

	 	•	 	 For recurring fair value measurements using significant unobservable inputs (Level 3), the effect of the measurements on profit or loss or other
comprehensive income for the period. 


  

	 	(v)	IFRIC 20 – Stripping Costs in the Production Phase of a Surface Mine 


IFRIC 20 provides guidance on the accounting for the costs of stripping activity in the production phase of surface mining in
situations where the following benefits accrue to the entity from the stripping activity: usable ore that can be used to produce inventory and improved access to further quantities of material that will be mined in future periods. Based on its
review, there was no material impact on the Company’s consolidated financial statements upon the adoption of IFRIC 20 on January 1, 2013. 
  

	 	(d)	Basis of consolidation 


Subsidiaries, joint ventures and investments in associates and joint ventures related to significant properties of the Company are
accounted for as outlined below. 
  

																			
	 Name
	  	Property
– Location	  	March 31,
2013	 	 	December 31,
2012	 	 	Type of
Arrangement	 	  	Accounting Method	 
	 Rosebel Gold Mines N.V.
	  	Rosebel mine – Suriname	  	 	95	% 	 	 	95	% 	 	 	Subsidiary	  	  	 	Consolidation	  
	 Essakane S.A.
	  	Essakane mine – Burkina Faso	  	 	90	% 	 	 	90	% 	 	 	Subsidiary	  	  	 	Consolidation	  
	 Doyon division including the Westwood project1
	  	Doyon division – Canada	  	 	100	% 	 	 	100	% 	 	 	Division	  	  	 	Consolidation	  
	 Niobec Inc.
	  	Niobec mine – Canada	  	 	100	% 	 	 	100	% 	 	 	Subsidiary	  	  	 	Consolidation	  
	 Trelawney Mining and Exploration Inc.2
	  	Côté Gold project – Canada	  	 	100	% 	 	 	100	% 	 	 	Subsidiary	  	  	 	Consolidation	  
	 Société d’Exploitation des Mines d’Or de Sadiola S.A.
	  	Sadiola mine – Mali	  	 	41	% 	 	 	41	% 	 	 	Joint venture	  	  	 	Equity accounting3	  
	 Société d’Exploitation des Mines d’Or de Yatela S.A.
	  	Yatela mine – Mali	  	 	40	% 	 	 	40	% 	 	 	Joint venture	  	  	 	Equity accounting	3 
	 Galane Gold Ltd.
	  	Mupane mine – Botswana	  	 	45.2	% 	 	 	45.3	% 	 	 	Associate	  	  	 	Equity accounting	  
	 INV Metals Inc.
	  	Loma Larga project – Ecuador	  	 	47	% 	 	 	47	% 	 	 	Associate	  	  	 	Equity accounting	  

 
  

	1 	 Division of IAMGOLD Corporation. 



	2 	 Trelawney Mining and Exploration Inc., which owns a 92.5% interest in the Côté Gold project located adjacent to the Swayze Greenstone Belt
in northern Ontario, Canada. 



	3 	 Effective with the adoption of IFRS 11 on January 1, 2013, IAMGOLD accounts for its interests in Sadiola and Yatela using the equity method
instead of proportionate consolidation. 



  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 42 









	3.	FUTURE ACCOUNTING POLICIES 


The following new standard was not yet effective for the three months ended March 31, 2013, and has not been applied in preparing
these consolidated interim financial statements. The Company will evaluate the impact of the change to its consolidated financial statements as a result of the new standard. The new standard is summarized as follows: 

IFRS 9 – Financial Instruments 
 The IASB has issued IFRS 9, Financial Instruments, which will replace IAS 39, Financial Instruments: Recognition and Measurement, and some of the requirements of IFRS 7, Financial
Instruments: Disclosures. IFRS 9 is planned to be effective on January 1, 2015. The objective of IFRS 9 is to establish principles for the financial reporting of financial assets and financial liabilities that will present relevant
and useful information to users of financial statements for their assessment of the amounts, timing and uncertainty of an entity’s future cash flows. 
  

	4.	GOLD BULLION 

  

													
	 	  	 	 	 	March 31,
2013	 	  	December 31,
2012	 
	 Ounces held
	  	 	(oz	) 	 	 	134,737	  	  	 	134,737	  
	 Weighted average acquisition cost
	  	($	 /oz	) 	 	$	720	  	  	$	720	  
	 Acquisition cost
	  	($	millions	) 	 	$	96.9	  	  	$	96 .9	  
	 End of period spot price for gold
	  	($	 /oz	) 	 	$	1,598	  	  	$	1,658	  
	 End of period market value
	  	($	millions	) 	 	$	215.3	  	  	$	223.3	  
		  				 	  
	  
	 	  	  
	  
	 

  

	5.	RECEIVABLES AND OTHER CURRENT ASSETS 


 

									
	 	  	March 31,
2013	 	  	December 31,
2012	 
	 Gold receivables
	  	$	1.8	  	  	$	2.4	  
	 Settlement receivables from sales of niobium
	  	 	20.3	  	  	 	16.8	  
	 Receivables from governments 1
	  	 	28.3	  	  	 	40.4	  
	 Receivables from related parties
	  	 	58.9	  	  	 	53.8	  
	 Other receivables
	  	 	13.7	  	  	 	17.0	  
		  	  
	  
	 	  	  
	  
	 
	 Total receivables
	  	 	123.0	  	  	 	130.4	  
	 Marketable securities and warrants held as investments
	  	 	17.7	  	  	 	19.0	  
	 Prepaid expenses
	  	 	20.2	  	  	 	18.9	  
	 Derivatives
	  	 	7.8	  	  	 	16.8	  
	 Other current assets
	  	 	0.2	  	  	 	—  	  
		  	  
	  
	 	  	  
	  
	 
		  	$	168.9	  	  	$	185.1	  
		  	  
	  
	 	  	  
	  
	 

  

	1 	 Receivables from governments relate primarily to value added tax. 



  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 43 









	6.	INVENTORIES 

  

									
	 	  	March 31,
2013	 	  	December 31,
2012	 
	 Finished goods
	  				  			
	 Gold production inventories
	  	$	53.7	  	  	$	38.9	  
	 Niobium production inventories
	  	 	14.1	  	  	 	14.5	  
	 Ore stockpiles
	  	 	49.8	  	  	 	42.8	  
	 Mine supplies
	  	 	171.7	  	  	 	163.3	  
		  	  
	  
	 	  	  
	  
	 
		  	 	289.3	  	  	 	259.5	  
	 Ore stockpiles included in other non-current assets
	  	 	82.4	  	  	 	82.6	  
		  	  
	  
	 	  	  
	  
	 
		  	$	371.7	  	  	$	342.1	  
		  	  
	  
	 	  	  
	  
	 

  

	7.	INCOME TAXES 

 The Company estimates the effective income tax rate, including the impact of changes in exchange rates for foreign currency, expected to be applicable for the full fiscal year and uses that rate to
calculate the income tax expense for interim reporting periods. The Company recognizes the tax impact of changes in the non-recognition of losses, enacted tax rates and other items as discrete items in the interim period in which they occur.

 The effective income tax rate varies from the combined Canadian federal and provincial statutory income tax rate and mining
duty rate. The differences between the effective income tax rate and combined statutory rate are due to fluctuations in exchange rates for foreign currency, the non-recognition of losses and other discrete items. 

 

	8.	INVESTMENTS IN ASSOCIATES AND JOINT VENTURES


 A joint venture is an arrangement whereby the parties (joint venturers) that have joint control of the
arrangement have rights to the net assets of the arrangement. This is an arrangement that involves the use of a separate vehicle, where the individual assets and liabilities of the arrangement reside with the vehicle, in both form and substance.

 Investments in associates are those entities in which the Company has significant influence, but no control or joint control.

 Joint ventures 
 Upon the adoption of IFRS 11, Joint Arrangements, the Company’s interests in gold mines Sadiola (41%) and Yatela (40%) in Mali were considered joint ventures for accounting purposes.
Both entities are structured as a separate vehicle and provide the Company rights to the net assets of the entity. Consequently, effective January 1, 2013, with retrospective adjustments applied at the beginning of the earliest period
presented, January 1, 2012, IAMGOLD accounts for its interests in Sadiola and Yatela using the equity method instead of proportionate consolidation. 
 Associates 
 IAMGOLD owns 45.2% of outstanding shares in Galane Gold Ltd.
(“Galane”) as at March 31, 2013. The ownership percentage in Galane as of December 31, 2012 was 45.3%. The share purchase agreement does not have any reference to other rights that would give power to IAMGOLD. 

IAMGOLD owns 47% of outstanding shares in INV Metals Inc. (“INV Metals”). The share purchase agreement restricts IAMGOLD from
changing the board of directors of INV Metals for the first 24-months commencing June 20, 2012, except to nominate one board member. 
 Equity accounting 
 Joint ventures and associates are included in the
consolidated balance sheets as investments in associates and joint ventures. The Company’s share of net earnings (losses) is included in the consolidated statements of earnings as share of net earnings (losses) from investments in associates
and joint ventures (net of income tax). 

  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 44 









																					
	 	  	Joint Ventures	 	 	Associates	 	 	 	 
	 	  	Sadiola	 	 	Yatela	 	 	Galane	 	 	INV Metals	 	 	Total	 
	 Balance, January 1, 2012
	  	$	84.2	  	 	$	5.6	  	 	$	16.3	  	 	$	—  	  	 	$	106.1	  
	 Acquisition
	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	27.8	  	 	 	27.8	  
	 Dividends
	  	 	(16.5	) 	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	(16.5	) 
	 Share of net earnings (losses)
	  				 				 				 				 			
	 (net of income tax)
	  	 	38.7	  	 	 	(4.0	) 	 	 	12.0	  	 	 	—  	  	 	 	46.7	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Balance, December 31, 2012
	  	 	106.4	  	 	 	1.6	  	 	 	28.3	  	 	 	27.8	  	 	 	164.1	  
	 Impairment1
	  	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	(18.6	) 	 	 	(18.6	) 
	 Share of net earnings (losses)
	  				 				 				 				 			
	 (net of income tax)
	  	 	7.6	  	 	 	0.3	  	 	 	(1.0	) 	 	 	(0.1	) 	 	 	6.8	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Balance, March 31, 2013
	  	$	114.0	  	 	$	1.9	  	 	$	27.3	  	 	$	9.1	  	 	$	152.3	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 

  

	1 	 Refer to note 13(b). 


 The
breakdown of the assets and liabilities that have been aggregated into the single line investment balance as at the January 1, 2012 is as follows: 
  

													
	 	  	Sadiola	 	 	Yatela	 	 	Total	 
	 Cash and cash equivalents
	  	$	1.5	  	 	$	3.4	  	 	$	4.9	  
	 Other current assets
	  	 	44.4	  	 	 	23.1	  	 	 	67.5	  
	 Non-current assets
	  	 	103.6	  	 	 	6.0	  	 	 	109.6	  
	 Current liabilities
	  	 	(32.7	) 	 	 	(11.4	) 	 	 	(44.1	) 
	 Non-current liabilities
	  	 	(32.6	) 	 	 	(15.5	) 	 	 	(48.1	) 
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Net assets
	  	$	84.2	  	 	$	5.6	  	 	 	89.8	  
	 Investments in associates prior to the adoption of IFRS 11
	  				 				 	 	16.3	  
		  				 				 	  
	  
	 
	 Balance, January 1, 2012 upon adoption of IFRS 11
	  				 				 	$	106.1	  
		  				 				 	  
	  
	 


  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 45 









	9.	MINING ASSETS  

  

																	
	 	  	Construction
in progress	 	 	Mining
properties
and deferred
costs	 	 	Plant and
equipment	 	 	Total	 
	 Cost
	  				 				 				 			
	 Balance, January 1, 2012
	  	$	95.9	  	 	$	1,634.6	  	 	$	1,059.1	  	 	$	2,789.6	  
	 Additions
	  	 	379.2	  	 	 	105.8	  	 	 	115.6	  	 	 	600.6	  
	 Changes in asset retirement obligations
	  	 	—  	  	 	 	29.4	  	 	 	—  	  	 	 	29.4	  
	 Disposals
	  	 	—  	  	 	 	—  	  	 	 	(11.4	) 	 	 	(11.4	) 
	 Transfer1
	  	 	329.6	  	 	 	—  	  	 	 	—  	  	 	 	329.6	  
	 Transfers within mining assets
	  	 	(103.0	) 	 	 	25.1	  	 	 	77.9	  	 	 	—  	  
	 Other
	  	 	—  	  	 	 	—  	  	 	 	9.0	  	 	 	9.0	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Balance, December 31, 2012
	  	 	701.7	  	 	 	1,794.9	  	 	 	1,250.2	  	 	 	3,746.8	  
	 Additions
	  	 	136.7	  	 	 	37.8	  	 	 	41.7	  	 	 	216.2	  
	 Changes in asset retirement obligations
	  	 	—  	  	 	 	(1.7	) 	 	 	—  	  	 	 	(1.7	) 
	 Disposals
	  	 	—  	  	 	 	—  	  	 	 	(3.3	) 	 	 	(3.3	) 
	 Transfers within mining assets
	  	 	(19.8	) 	 	 	—  	  	 	 	19.8	  	 	 	—  	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Balance, March 31, 2013
	  	$	818.6	  	 	$	1,831.0	  	 	$	1,308.4	  	 	$	3,958.0	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Accumulated Depreciation
	  				 				 				 			
	 Balance, January 1, 2012
	  	$	—  	  	 	$	629.4	  	 	$	340.7	  	 	$	970.1	  
	 Depreciation expense2
	  	 	—  	  	 	 	73.5	  	 	 	92.0	  	 	 	165.5	  
	 Disposals
	  	 	—  	  	 	 	—  	  	 	 	(7.3	) 	 	 	(7.3	) 
	 Other
	  	 	—  	  	 	 	—  	  	 	 	0.5	  	 	 	0.5	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Balance, December 31, 2012
	  	 	—  	  	 	 	702.9	  	 	 	425.9	  	 	 	1,128.8	  
	 Depreciation expense2
	  	 	—  	  	 	 	21.1	  	 	 	22.5	  	 	 	43.6	  
	 Disposals
	  	 	—  	  	 	 	—  	  	 	 	(2.7	) 	 	 	(2.7	) 
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Balance, March 31, 2013
	  	$	—  	  	 	$	724.0	  	 	$	445.7	  	 	$	1,169.7	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
					
	 Net book value, December 31, 2012
	  	$	701.7	  	 	$	1,092.0	  	 	$	824.3	  	 	$	2,618.0	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Net book value, March 31, 2013
	  	$	818.6	  	 	$	1,107.0	  	 	$	862.7	  	 	$	2,788.3	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 

  

	1 	 Upon determination of technical feasibility and commercial viability of a project, the related exploration and evaluation assets are transferred to
construction in progress. During the year ended December 31, 2012, capitalized costs related to the Westwood project were transferred from exploration and evaluation assets to mining assets. 



	2 	 Excludes depreciation expense relating to corporate assets. 



  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 46 









	10.	OTHER NON-CURRENT ASSETS 


 

									
	 	  	March 31,
2013	 	  	December 31,
2012	 
	 Ore stockpiles
	  	$	82.4	  	  	$	82.6	  
	 Marketable securities and warrants held as investments
	  	 	56.3	  	  	 	76.3	  
	 Deposits on non-current assets
	  	 	53.5	  	  	 	77.3	  
	 Receivables from governments 1
	  	 	26.6	  	  	 	25.3	  
	 Royalty interests
	  	 	18.2	  	  	 	18.8	  
	 Other
	  	 	27.4	  	  	 	24.0	  
		  	  
	  
	 	  	  
	  
	 
		  	$	264.4	  	  	$	304.3	  
		  	  
	  
	 	  	  
	  
	 

  

	1 	 Receivables from governments relate primarily to federal exploration credits. 



 

	11.	LONG-TERM DEBT AND CREDIT FACILITIES


  

	 	(a)	Senior unsecured notes 


On September 21, 2012, the Company issued at face value $650.0 million of senior unsecured notes (“Notes”) with an
interest rate of 6.75% per annum. The Notes are denominated in U.S. dollars and mature on October 1, 2020. Interest is payable in arrears in equal semi-annual installments on April 1 and October 1 of each year commencing in
2013. 
 The following are the contractual maturities related to the Notes, including interest payments. 

 

																									
	 	  	Payments due by period	 
	 Balance, March 31, 2013
	  	Carrying
amount1	 	  	Contractual
cash flows	 	  	Remainder
of 2013	 	  	2014 - 2015	 	  	2016 - 2017	 	  	Thereafter	 
	 Notes
	  	$	650.0	  	  	$	1,007.3	  	  	$	45.7	  	  	$	89.0	  	  	$	89.0	  	  	$	783.6	  

  

	1 	 The carrying amount of the long-term debt excludes transaction costs of $10.8 million. 



 

	 	(b)	Credit facilities 

 The
Company has a four-year $500.0 million unsecured revolving credit facility and a four-year $250.0 million unsecured revolving credit facility at Niobec Inc., a wholly-owned subsidiary of the Company. The maturity date of both credit
facilities is February 22, 2016 with a provision to extend the maturity date for a period of one year. No funds were drawn against the credit facilities at March 31, 2013 and December 31, 2012. The Company has complied with its credit
facility covenants as at March 31, 2013. 
 The Company has a $75.0 million revolving facility for the issuance of
letters of credit. The maturity date of this credit facility was April 22, 2013 with a provision to extend the maturity date for a period of one year. The Company has executed its option to extend the term of the facility for one year so
the facility now matures on April 22, 2014. At March 31, 2013, the Company had letters of credit in the amount of $68.0 million to guarantee certain asset retirement obligations compared to $69.5 million at December 31, 2012.

 Credit facility issue costs are capitalized in other non-current assets. Amortization is calculated on a straight-line basis
over the term of the credit facility. The carrying amount of credit facilities issue costs (net of amortization) at March 31, 2013 was $ 3.4 million (December 31, 2012 - $3.7 million). 

  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 47 









	12.	FINANCIAL INSTRUMENTS 


 

																	
	 	  	March 31, 2013	 	 	December 31, 2012	 
	 	  	Carrying	 	 	Fair	 	 	Carrying	 	 	Fair	 
	 Financial assets (liabilities)
	  	Amount	 	 	Value	 	 	Amount	 	 	Value	 
	 Cash and cash equivalents
	  	$	648.0	  	 	$	648.0	  	 	$	797.3	  	 	$	797.3	  
	 Total receivables
	  	 	123.0	  	 	 	123.0	  	 	 	130.4	  	 	 	130.4	  
	 Marketable securities and warrants held as investments
	  	 	74.0	  	 	 	74.0	  	 	 	95.3	  	 	 	95.3	  
	 Fixed rate investments
	  	 	4.8	  	 	 	4.8	  	 	 	—  	  	 	 	—  	  
	 Derivatives
	  	 	5.0	  	 	 	5.0	  	 	 	16.6	  	 	 	16.6	  
	 Accounts payable and accrued liabilities
	  	 	(227.6	) 	 	 	(227.6	) 	 	 	(219.4	) 	 	 	(219.4	) 
	 Long-term debt1
	  	 	(650.0	) 	 	 	(646.8	) 	 	 	(650.0	) 	 	 	(651.6	) 
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 

  

	1 	 The carrying amount and the fair values of the long-term debt exclude transaction costs of $10.8 million at March 31, 2013.



  

	 	(a)	Available-for-sale financial assets and derivatives 

  

	 	(i)	Marketable securities and warrants held as investments, and market price risk 


Share market price exposure risk is related to the fluctuation in the market price of marketable securities and warrants held as
investments. During the quarter, the Company reviewed the value of its marketable securities for objective evidence of impairment based on both quantitative and qualitative criteria and determined that an impairment charge of $8.8 million was
required, of which $5.3 million was transferred from other comprehensive income to interest income, derivatives and other investment gains (losses). 
  

									
	 	  	Three months ended March 31,	 
	 Movement in available-for-sale fair value reserve
	  	2013	 	 	2012	 
	 Net unrealized change in fair value of available-for-sale financial assets:
	  				 			
	 Unrealized gains (losses)
	  	$	(20.7	) 	 	$	10.5	  
	 Income tax impact
	  	 	2.7	  	 	 	(1.3	) 
		  	  
	  
	 	 	  
	  
	 
		  	 	(18.0	) 	 	 	9.2	  
		  	  
	  
	 	 	  
	  
	 
	 Net realized change in fair value and impairment of available-for-sale financial assets:
	  				 			
	 Gain on sale of marketable securities
	  	 	—  	  	 	 	(5.6	) 
	 Impairment losses
	  	 	5.3	  	 	 	4.6	  
	 Income tax impact
	  	 	(0.6	) 	 	 	0.1	  
		  	  
	  
	 	 	  
	  
	 
		  	 	4.7	  	 	 	(0.9	) 
		  	  
	  
	 	 	  
	  
	 
		  	$	(13.3	) 	 	$	8.3	  
		  	  
	  
	 	 	  
	  
	 

 The Company has share purchase warrants held as investments. Unrealized losses of $0.4 million related to
the change in the fair value of these warrants held as investments were recorded in the consolidated statements of earnings for the three months ended March 31, 2013 compared to unrealized gains of $1.3 million for the three months ended
March 31, 2012. 

  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 48 









	 	(ii)	Currency exchange rate risk 

 At March 31, 2013, the Company had outstanding contracts which did not qualify for hedge accounting for: 
  

	 	•	 	 Canadian dollar forward and option contracts for the remainder of 2013 of C$300 million ($294 million) hedging approximately 61% of its planned
exposure. Contract rates range from C$1.00/$ to C$1.07/$. 


  

	 	•	 	 Canadian dollar forward and option contracts for 2014 of C$305 million ($288 million) hedging approximately 45% of its planned exposure. Contract rates
range from C$1.02/$ to C$1.10/$. 


  

	 	•	 	 Euro forward and option contracts for the remainder of 2013 of €114 million ($140 million) hedging approximately 51% of its planned exposure.
Contract rates range from $1.18/€ to $1.28/€. 


  

	 	•	 	 Euro forward and option contracts for 2014 of €96 million ($120 million) hedging approximately 37% of its planned exposure. Contract rates
were $1.25/€. 


 The fair value at March 31, 2013 was included in other current and non-current
assets (liabilities). 
  

									
	 	  	March 31,
2013	 	  	December 31,
2012	 
	 Canadian dollar (C$)
	  	$	2.6	  	  	$	9.2	  
	 Euro (€ )
	  	 	0.4	  	  	 	4.8	  
		  	  
	  
	 	  	  
	  
	 
		  	$	3.0	  	  	$	14.0	  
		  	  
	  
	 	  	  
	  
	 

  

	 	(iii)	Oil contracts and fuel market price risk 

 At March 31, 2013, the Company had outstanding option contracts for the remainder of 2013 of 441,000 barrels, which did not qualify for hedge accounting, covering approximately 50% of its estimated
fuel exposure. Contract prices range from $75 to $95 per barrel. Planned fuel requirements are for the Rosebel, Essakane, Westwood and Niobec operations. 
 The fair value at March 31, 2013 was included in other current assets. 
  

									
	 	  	March 31,
2013	 	  	December 31,
2012	 
	 Crude oil option contracts
	  	$	2.4	  	  	$	2.7	  
		  	  
	  
	 	  	  
	  
	 

  

	 	(iv)	Aluminum contracts and market price risk 

 At March 31, 2013, the Company had outstanding contracts at the Niobec mine, which did not qualify for hedge accounting for: 

 

	 	•	 	 Swap contracts for the remainder of 2013 of 2,325 metric tonnes, hedging approximately 66% of its planned exposure. Contract rates range from $1,955
per metric tonne to $2,146 per metric tonne. 


  

	 	•	 	 Swap and option contracts for 2014 of 2,400 metric tonnes, hedging approximately 49% of its planned exposure. Contract rates range from $1,900 per
metric tonne to $2,150 per metric tonne. 


 The fair value at March 31, 2013 was included in other
current and non-current liabilities. 
  

									
	 	  	March 31,
2013	 	 	December 31,
2012	 
	 Aluminum contracts
	  	$	(0.4	) 	 	$	(0.1	) 
		  	  
	  
	 	 	  
	  
	 


  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 49 









	 	(b)	Derivative gains (losses) 


Derivative gains (losses) are included in interest income, derivatives and other investment gains (losses) in the consolidated statements
of earnings. 
  

									
	 	  	Three months ended March 31,	 
	 	  	2013	 	 	2012	 
	 Unrealized gains (losses) on:
	  				 			
	 Derivatives - currency contracts
	  	$	(11.0	) 	 	$	6.6	  
	 Derivatives - oil contracts
	  	 	(0.3	) 	 	 	0.9	  
	 Derivatives - aluminum contracts
	  	 	(0.3	) 	 	 	0.7	  
	 Other
	  	 	(0.4	) 	 	 	1.4	  
		  	  
	  
	 	 	  
	  
	 
		  	 	(12.0	) 	 	 	9.6	  
		  	  
	  
	 	 	  
	  
	 
	 Realized gains (losses) on:
	  				 			
	 Derivatives - currency contracts
	  	 	4.0	  	 	 	(0.2	) 
	 Derivatives - oil contracts
	  	 	0.1	  	 	 	0.5	  
	 Derivatives - aluminum contracts
	  	 	—  	  	 	 	(0.2	) 
		  	  
	  
	 	 	  
	  
	 
		  	 	4.1	  	 	 	0.1	  
		  	  
	  
	 	 	  
	  
	 
		  	$	(7.9	) 	 	$	9.7	  
		  	  
	  
	 	 	  
	  
	 

  

	13.	FAIR VALUE MEASUREMENTS 


Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. 
 The fair value hierarchy categorizes into three levels the inputs to valuation
techniques used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3
inputs). 
  

	 	•	 	 Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement
date. 


  

	 	•	 	 Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or
indirectly such as derived from prices. 


  

	 	•	 	 Level 3 inputs are unobservable inputs for the asset or liability. 



 

	 	(a)	Assets and liabilities measured at fair value on a recurring basis 

 At March 31, 2013, the Company’s assets and liabilities recorded at fair value were as follows: 
  

																	
	 Balance, March 31, 2013
	  	Level 1	 	 	Level 2	 	 	Level 3	 	  	Total	 
	 Financial assets
	  				 				 				  			
	 Cash and cash equivalents
	  	$	648.0	  	 	$	—  	  	 	$	—  	  	  	$	648.0	  
	 Marketable securities
	  	 	59.7	  	 	 	—  	  	 	 	14.0	  	  	 	73.7	  
	 Warrants held as investments
	  	 	—  	  	 	 	0.3	  	 	 	—  	  	  	 	0.3	  
	 Fixed rate investments
	  	 	4.8	  	 	 	—  	  	 	 	—  	  	  	 	4.8	  
	 Derivatives
	  				 				 				  			
	 Currency contracts
	  	 	—  	  	 	 	5.7	  	 	 	—  	  	  	 	5.7	  
	 Oil contracts
	  	 	—  	  	 	 	2.4	  	 	 	—  	  	  	 	2.4	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	  	  
	  
	 
		  	$	712.5	  	 	$	8.4	  	 	$	14.0	  	  	$	734.9	  
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 Financial liabilities
	  				 				 				  			
	 Long-term debt
	  	$	(646.8	) 	 	$	—  	  	 	$	—  	  	  	$	(646.8	) 
	 Derivatives
	  				 				 				  			
	 Currency contracts
	  	 	—  	  	 	 	(2.7	) 	 	 	—  	  	  	 	(2.7	) 
	 Aluminum contracts
	  	 	—  	  	 	 	(0.4	) 	 	 	—  	  	  	 	(0.4	) 
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	  	  
	  
	 
		  	$	(646.8	) 	 	$	(3.1	) 	 	$	—  	  	  	$	(649.9	) 
		  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	  	  
	  
	 


  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 50 









	 	(b)	Assets and liabilities measured at fair value on a non-recurring basis 


 

																	
	 Balance, March 31, 2013
	  	Level 1	 	  	Level 2	 	  	Level 3	 	  	Total	 
	 Investments in associates - INV Metals 1
	  	$	9.1	  	  	$	—  	  	  	$	—  	  	  	$	9.1	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

  

	1 	 The investment in INV Metals included in investments in associates accounted for using the equity method was impaired $18.6 million to its fair value
as at March 31, 2013. 


  

	 	(c)	Valuation techniques 


Marketable securities 
 The fair value of available-for-sale marketable securities included in Level 1 is determined based on a market approach. The closing price is a quoted market price from the exchange market that is the
principal active market for that particular security. Investments in equity instruments that are available-for-sale financial assets and are not actively traded use valuation techniques that require inputs that are both unobservable and significant,
and therefore were categorized as Level 3 in the fair value hierarchy. The Company used the latest transaction price for these securities, obtained from the entity, to value these marketable securities. 

 

					
	 Available-for-sale financial assets included in Level 3
	  			
	 Balance, January 1, 2013
	  	$	21.7	  
	 Change in fair value reported in other comprehensive income
	  	 	(7.7	) 
		  	  
	  
	 
	 Balance, March 31, 2013
	  	$	14.0	  
		  	  
	  
	 

 Warrants held as investments 

The fair value of warrants held as investments, classified as financial assets at fair value through profit and loss, is obtained through
the use of the Black-Scholes pricing model, which uses share price inputs and volatility measurements, and is therefore classified within Level 2 of the fair value hierarchy. 
 Derivatives 
 For derivative contracts, the Company obtains a valuation of
the contracts from counterparties of those contracts. The Company assess the reasonableness of these valuations through internal methods and third party valuations. Valuations are based on forward rates considering the market price, rate of interest
and volatility, and take into account the credit risk of the financial instrument, and are therefore classified within Level 2 of the fair value hierarchy. 
 Long-term debt 
 Long-term debt is accounted for at amortized cost, using
the effective interest rate method. The fair value required to be disclosed is measured using quoted prices (unadjusted) in active markets, and is therefore classified within Level 1 of the fair value hierarchy. 

Investments in associates 
 After application of the equity method, if the fair value of an investment in associate declines below its carrying amount, the Company performs qualitative and quantitative assessments of whether the
decline is either significant or prolonged. For publicly traded companies, IAMGOLD measures fair value of its investment in associate based on a market approach reflecting the closing price of the investment in associate’s shares at the balance
sheet date. Since there is a quoted-market price, this is classified within Level 1 of the fair value hierarchy. 

  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 51 









	14.	CAPITAL MANAGEMENT 

  

									
	 	  	March 31,
2013	 	  	December 31,
2012	 
	 Cash and cash equivalents
	  	$	648.0	  	  	$	797.3	  
	 Gold bullion at market value
	  	 	215.3	  	  	 	223.3	  
	 Credit facilities available for use
	  	 	750.0	  	  	 	750.0	  
	 Long-term debt1
	  	 	650.0	  	  	 	650.0	  
	 Common shares
	  	 	2,316.1	  	  	 	2,315.8	  

  

	1 	 Long-term debt excludes transaction costs of $10.8 million at March 31, 2013. 



The Company’s cash and cash equivalents, and gold bullion position valued at the March 31, 2013 gold market price, was $863.3
million (December 31, 2012 – $1,020.6 million). 
 The Company continues to have available a short-form base shelf
prospectus until July 2013 qualifying the distribution of securities of up to $1.0 billion, that was filed in July 2011. 
 On
January 7, 2013, the Company paid the semi-annual dividend declared on December 10, 2012 of $0.125 per share totaling $47.1 million and paid dividends to the non-controlling interests for the three months ended March 31, 2013 of
$1.5 million. 
  

	15.	PROVISIONS 

  

									
	 	  	March 31,
2013	 	  	December 31,
2012	 
	 Asset retirement obligations
	  	$	213.8	  	  	$	218.5	  
	 Other
	  	 	22.4	  	  	 	22 .4	  
		  	  
	  
	 	  	  
	  
	 
		  	$	236.2	  	  	$	240.9	  
		  	  
	  
	 	  	  
	  
	 
	 Provisions
	  	$	230.2	  	  	$	235.0	  
	 Current portion of provisions
	  	 	6.0	  	  	 	5.9	  
		  	  
	  
	 	  	  
	  
	 
		  	$	236.2	  	  	$	240.9	  
		  	  
	  
	 	  	  
	  
	 

  

	 	(a)	Asset retirement obligations  

 As at March 31, 2013, the Company had letters of credit in the amount of $68.0 million to guarantee asset retirement obligations compared to $69.5 million at December 31, 2012. The Company also
had legally restricted cash of $2.5 million at March 31, 2013 (December 31, 2012 – $3.1 million) included in other non-current assets for the purposes of settling asset retirement obligations. 

 

	 	(b)	Provisions for litigation claims and regulatory assessments 

 By their nature, contingencies will only be determined when one or more future events occur or fail to occur. The assessment of contingencies inherently involves the exercise of significant judgment and
estimates of the outcome of future events. 
 The Company operates in various countries around the world and may be subject to
assessments by the regulatory authorities in each of those countries, which can be complex and subject to interpretation. Assessments may relate to matters such as income and other taxes, duties and environmental matters. The Company is diligent and
exercises informed judgment to interpret the provisions of applicable laws and regulations as well as their application and administration by regulatory authorities to reasonably determine and pay the amounts due. From time to time, the Company may
undergo a review by the regulatory authorities and in connection with such reviews, disputes may arise with respect to the Company’s interpretations about the amounts due and paid. 

The Company is also subject to various litigation actions. In-house counsel, outside legal advisors, and other subject matter experts
assess the potential outcome of litigation and regulatory assessments. Accordingly, the Company establishes provisions for future disbursements considered probable. 
 At March 31, 2013, the Company did not have any material provisions for litigation claims or regulatory assessments. Further, the Company does not believe claims or regulatory assessments for which
no provision has been recorded will have a material impact on the financial position of the Company. 

  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 52 









	16.	SHARE CAPITAL 

  

	 	(a)	Authorized 

  

	 	•	 	 Unlimited first preference shares, issuable in series 



 

	 	•	 	 Unlimited second preference shares, issuable in series 



 

	 	•	 	 Unlimited common shares 


  

	 	(b)	Issued and outstanding common shares 

  

									
	 	  	Three months ended March 31,	 
	 Number of shares (in millions)
	  	2013	 	  	2012	 
	 Outstanding, beginning of the year
	  	 	376.5	  	  	 	375.9	  
	 Issuance of share capital
	  	 	0.1	  	  	 	0.2	  
		  	  
	  
	 	  	  
	  
	 
	 Outstanding, end of the period
	  	 	376.6	  	  	 	376.1	  
		  	  
	  
	 	  	  
	  
	 

  

	17.	EARNINGS PER SHARE 


Basic earnings per share computation 
  

									
	 	  	Three months ended March 31,	 
	 	  	2013	 	  	2012	 
	 Numerator:
	  				  			
	 Net earnings attributable to equity holders of IAMGOLD
	  	$	10.9	  	  	$	119.2	  
		  	  
	  
	 	  	  
	  
	 
	 Denominator:
	  				  			
	 Weighted average number of common shares (basic) (in millions)
	  	 	376.6	  	  	 	376.0	  
		  	  
	  
	 	  	  
	  
	 
	 Basic earnings attributable to equity holders of IAMGOLD per share ($/share)
	  	$	0.03	  	  	$	0.32	  
		  	  
	  
	 	  	  
	  
	 

 Diluted earnings per share computation 

 

									
	 	  	Three months ended March 31,	 
	 	  	2013	 	  	2012	 
	 Denominator (in millions):
	  				  			
	 Weighted average number of common shares (basic)
	  	 	376.6	  	  	 	376.0	  
	 Dilutive effect of employee share options
	  	 	0.1	  	  	 	0.7	  
	 Dilutive effect of employee restricted share units
	  	 	0.2	  	  	 	0.1	  
		  	  
	  
	 	  	  
	  
	 
	 Weighted average number of common shares (diluted)
	  	 	376.9	  	  	 	376.8	  
		  	  
	  
	 	  	  
	  
	 
	 Diluted earnings attributable to equity holders of IAMGOLD per share ($/share)
	  	$	0.03	  	  	$	0.32	  
		  	  
	  
	 	  	  
	  
	 


  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 53 








 Equity instruments excluded from the computation of diluted earnings per share which could
be dilutive in the future were as follows: 
  

									
	 	  	Three months ended March 31,	 
	 (in millions)
	  	2013	 	  	2012	 
	 Share options
	  	 	5.7	  	  	 	2.4	  
	 Performance share units
	  	 	0.4	  	  	 	0.2	  
		  	  
	  
	 	  	  
	  
	 
		  	 	6.1	  	  	 	2.6	  
		  	  
	  
	 	  	  
	  
	 

  

	18.	SHARE-BASED PAYMENTS 

  


									
	 	  	Three months ended March 31,	 
	 	  	2013	 	  	2012	 
	 Share option plan
	  	$	1.3	  	  	$	1.1	  
	 Share bonus plan
	  	 	0.4	  	  	 	0.2	  
	 Deferred share plan
	  	 	1.0	  	  	 	0.5	  
		  	  
	  
	 	  	  
	  
	 
		  	$	2.7	  	  	$	1.8	  
		  	  
	  
	 	  	  
	  
	 

  

	 	(a)	Share option plan 

 The
Company has a comprehensive share option plan for its full-time employees, directors and officers. The options vest over three to five years and expire no later than 7 years from the grant date. 

At March 31, 2013, the total number of shares reserved for the grants of share options was 20,257,401. At March 31, 2013, the
shares that remained in reserve were 6,508,601 of which 6,127,228 were outstanding and 381,373 were unallocated. 
  

									
	 	  	Share
options
(in millions)	 	 	Weighted
average
exercise
price (C$)1	 
	 Outstanding, beginning of the year
	  	 	4.2	  	 	$	13.92	  
	 Granted
	  	 	2.0	  	 	 	7.71	  
	 Exercised
	  	 	—  	  	 	 	6.40	  
	 Forfeited
	  	 	(0.1	) 	 	 	12.97	  
		  	  
	  
	 	 	  
	  
	 
	 Outstanding, end of the period
	  	 	6.1	  	 	$	11.89	  
		  	  
	  
	 	 	  
	  
	 
	 Exercisable, end of the period
	  	 	2.2	  	 	$	12.96	  
		  	  
	  
	 	 	  
	  
	 

  

	1. 	 Exercise prices are denominated in Canadian dollars. The exchange rate at March 31, 2013, between the U.S. dollar and Canadian dollar was C$1.0160
/U.S.$. 


 The following are the weighted average inputs to the Black-Scholes model used in determining fair
value of options granted for the three months ended March 31, 2013. The estimated fair value of the options is expensed over its expected life. 
  

					
	 Three months ended March 31, 2013
	  	Share options	 
	 Weighted average risk-free interest rate
	  	 	1.00	% 
	 Weighted average expected volatility1
	  	 	46.00	% 
	 Weighted expected dividend yield
	  	 	3.35	% 
	 Weighted average expected life of options issued (years)
	  	 	5.0	  
	 Weighted average grant-date fair value (C$ per share)
	  	$	2.35	  
	 Weighted average share price at grant date (C$ per share)
	  	$	7.68	  
	 Weighted average exercise price (C$ per share)
	  	$	7.71	  

  

	1	 Expected
volatility is estimated by considering historic average share price volatility based on the average expected life of the options. 



  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 54 









	 	(b)	Other share-based payment plans 

  

	 	(i)	Share bonus plan 

 The
Company has a share bonus plan for employees and directors with a maximum allotment of 740,511 common shares. As at March 31, 2013, the shares that remained in reserve were 431,210 of which 160,438 were outstanding and 270,772 were unallocated.

 A summary of the status of the Company’s restricted share units issued to employees and directors under the share bonus
plan reserve and changes during the three months ended March 31, 2013 is presented below. 
  

					
	 (in millions)
	  	Restricted share units	 
	 Outstanding, beginning of the year
	  	 	0.2	  
	 Issued
	  	 	—  	  
		  	  
	  
	 
	 Outstanding, end of the period
	  	 	0.2	  
		  	  
	  
	 

  

	 	(ii)	Deferred share plan 

 The
Company has a deferred share plan for employees and directors whereby a maximum of 2,359,489 common shares may be awarded. At March 31, 2013, the shares that remained in reserve were 2,241,291 of which 1,668,939 were outstanding and 572,352
were unallocated. 
  

					
	 (in millions)
	  	Share units	 
	 Outstanding, beginning of the year
	  	 	0.8	  
	 Granted
	  	 	0.9	  
	 Forfeited
	  	 	—  	  
		  	  
	  
	 
	 Outstanding, end of the period
	  	 	1.7	  
		  	  
	  
	 

 Restricted share units (“RSU”) 

The following are the weighted average inputs to the model used in determining fair value for restricted share units granted in the three
months ended March 31, 2013. The estimated fair value of the awards is expensed over their vesting period. 
  

					
	 Three months ended March 31, 2013
	  	Restricted share
units	 
	 Risk-free interest rate
	  	 	1.00	% 
	 Expected volatility1
	  	 	44.00	% 
	 Dividend yield
	  	 	3.26	% 
	 Weighted average expected life of RSUs issued (years)
	  	 	2.8	  
	 Weighted average grant-date fair value (C$ per share)
	  	$	7.22	  
	 Weighted average share price at grant date (C$ per share)
	  	$	7.88	  
	 Model used
	  	 	Black-Scholes	  
		  	  
	  
	 

  

	1 	 Expected volatility is estimated by considering historic average share price volatility adjusted for market fluctuations. 




  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 55 








 Performance share units (“PSU”) 

The following are the weighted average inputs to the model used in determining fair value for performance share units granted in the three
months ended March 31, 2013. The estimated fair value of the awards is expensed over their vesting period. 
  

					
	 Three months ended March 31, 2013
	  	Performance
share units	 
	 Risk-free interest rate
	  	 	1.00	% 
	 Expected volatility1
	  	 	44.00	% 
	 Weighted average expected life of PSUs issued (years)
	  	 	2.9	  
	 Weighted average grant-date fair value (C$ per share)
	  	$	3.47	  
	 Weighted average share price at grant date (C$ per share)
	  	$	7.57	  
	 Model used
	  	 	Monte Carlo	  
		  	  
	  
	 

  

	1 	 Expected volatility is estimated by considering historic average share price volatility adjusted for market fluctuations. 



 

	19.	COST OF SALES 

 Cost of sales includes mine production, transport and smelter processing costs, applicable site administrative costs, applicable stripping costs, other related costs, royalty expenses, and depreciation
expense. 
  

									
	 	  	Three months ended March 31,	 
	 	  	2013	 	  	2012	 
	 Operating costs - mines
	  	$	131.1	  	  	$	124.4	  
	 Royalties
	  	 	14.9	  	  	 	17.0	  
	 Depreciation expense1
	  	 	38.4	  	  	 	37.4	  
		  	  
	  
	 	  	  
	  
	 
		  	$	184.4	  	  	$	178.8	  
		  	  
	  
	 	  	  
	  
	 

  

	1 	 Depreciation expense excludes depreciation relating to corporate assets, which is included in general and administrative expenses.



  

	20.	GENERAL AND ADMINISTRATIVE EXPENSES 


 

									
	 	  	Three months ended March 31,	 
	 	  	2013	 	  	2012	 
	 Salaries
	  	$	5.6	  	  	$	4.7	  
	 Director fees and expenses
	  	 	0.4	  	  	 	0.7	  
	 Professional and consulting fees
	  	 	2.4	  	  	 	2.2	  
	 Other administration costs
	  	 	1.0	  	  	 	2.7	  
	 Share-based payments
	  	 	2.7	  	  	 	1.8	  
	 Depreciation expense
	  	 	0.6	  	  	 	0.6	  
		  	  
	  
	 	  	  
	  
	 
		  	$	12.7	  	  	$	12.7	  
		  	  
	  
	 	  	  
	  
	 

  

	21.	FINANCE COSTS 

  

									
	 	  	Three months ended March 31,	 
	 	  	2013	 	  	2012	 
	 Interest expense
	  	$	7.7	  	  	$	—  	  
	 Credit facility fees
	  	 	1.1	  	  	 	1.0	  
	 Accretion expense
	  	 	0.2	  	  	 	0.3	  
	 Other
	  	 	0.1	  	  	 	1.3	  
		  	  
	  
	 	  	  
	  
	 
		  	$	9.1	  	  	$	2.6	  
		  	  
	  
	 	  	  
	  
	 


  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 56 









	22.	INTEREST INCOME AND DERIVATIVES AND OTHER INVESTMENT
GAINS (LOSSES) 

  

									
	 	  	Three months ended March 31,	 
	 	  	2013	 	 	2012	 
	 Interest income
	  	$	0.9	  	 	$	1.1	  
	 Impairment of investments
	  	 	(27.4	) 	 	 	(4.6	) 
	 Derivative gains (losses)
	  	 	(7.9	) 	 	 	9.7	  
	 Gains (losses) on sale of assets
	  	 	(0.3	) 	 	 	2.3	  
	 Gains on sale of marketable securities
	  	 	—  	  	 	 	5.6	  
	 Other
	  	 	3.7	  	 	 	0.5	  
		  	  
	  
	 	 	  
	  
	 
		  	$	(31.0	) 	 	$	14.6	  
		  	  
	  
	 	 	  
	  
	 

  

	23.	CASH FLOW ITEMS 

 (a) Adjustments for other non-cash items within operating activities 
  

									
	 	  	Three months ended March 31,	 
	 	  	2013	 	 	2012	 
	 Share-based payments
	  	$	2.7	  	 	$	1.8	  
	 Gains on sale of marketable securities
	  	 	—  	  	 	 	(5.6	) 
	 Impairment of investments
	  	 	27.4	  	 	 	4.6	  
	 Losses (gains) on sale of assets
	  	 	0.3	  	 	 	(2.3	) 
	 Derivative losses (gains)
	  	 	7.9	  	 	 	(9.7	) 
	 Share of net earnings from investments in associates and joint ventures (net of income tax)
	  	 	(6.8	) 	 	 	(10.2	) 
	 Other
	  	 	(2.5	) 	 	 	1.5	  
		  	  
	  
	 	 	  
	  
	 
		  	$	29.0	  	 	$	(19.9	) 
		  	  
	  
	 	 	  
	  
	 

  

	 	(b)	Adjustments for cash items within operating activities 

  

									
	 	  	Three months ended March 31,	 
	 	  	2013	 	 	2012	 
	 Disbursements related to asset retirement obligations
	  	$	(0.8	) 	 	$	(0.4	) 
	 Settlement of derivatives
	  	 	4.1	  	 	 	0.8	  
	 Other
	  	 	(0.2	) 	 	 	(0.2	) 
		  	  
	  
	 	 	  
	  
	 
		  	$	3.1	  	 	$	0.2	  
		  	  
	  
	 	 	  
	  
	 

  

	 	(c)	Movements in non-cash working capital items and non-current ore stockpiles 


 

									
	 	  	Three months ended March 31,	 
	 	  	2013	 	 	2012	 
	 Receivables and other current assets
	  	$	7.5	  	 	$	16.1	  
	 Inventories and non-current ore stockpiles
	  	 	(27.1	) 	 	 	(26.4	) 
	 Accounts payable and accrued liabilities
	  	 	3.9	  	 	 	(21.3	) 
		  	  
	  
	 	 	  
	  
	 
		  	$	(15.7	) 	 	$	(31.6	) 
		  	  
	  
	 	 	  
	  
	 


  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 57 









	 	(d)	Other investing activities 

  

									
	 	  	Three months ended March 31,	 
	 	  	2013	 	 	2012	 
	 Acquisition of investments
	  	$	(5.2	) 	 	$	(15.5	) 
	 Proceeds from sale of investments
	  	 	—  	  	 	 	7.4	  
	 Restricted cash
	  	 	0.5	  	 	 	(1.2	) 
	 Net acquisitions of other assets
	  	 	(1.4	) 	 	 	(0.8	) 
	 Other
	  	 	1.2	  	 	 	—  	  
		  	  
	  
	 	 	  
	  
	 
		  	$	(4.9	) 	 	$	(10.1	) 
		  	  
	  
	 	 	  
	  
	 

  

	24.	COMMITMENTS 

  

	 	(a)	Capital commitments 

  

									
	 	  	March 31,
2013	 	  	December 31,
2012	 
	 Purchase obligations
	  	$	125.2	  	  	$	98.8	  
	 Capital expenditures obligations
	  	 	76.4	  	  	 	100.7	  
	 Leases
	  	 	7.8	  	  	 	8.6	  
		  	  
	  
	 	  	  
	  
	 
		  	$	209.4	  	  	$	208.1	  
		  	  
	  
	 	  	  
	  
	 

  

	 	(b)	Capital commitments – Payments due by period 

  

																					
	 	  	Payments due by period	 
	 At March 31, 2013
	  	Total	 	  	Remainder of
2013	 	  	2014 - 2015	 	  	2016 - 2017	 	  	Thereafter	 
	 Purchase obligations
	  	$	125.2	  	  	$	112.2	  	  	$	8.0	  	  	$	4.7	  	  	$	0.3	  
	 Capital expenditures obligations
	  	 	76.4	  	  	 	76.4	  	  	 	—  	  	  	 	—  	  	  	 	—  	  
	 Leases
	  	 	7.8	  	  	 	3.2	  	  	 	3.9	  	  	 	0.7	  	  	 	—  	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  	$	209.4	  	  	$	191.8	  	  	$	11.9	  	  	$	5.4	  	  	$	0.3	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

  

	25.	RELATED PARTY TRANSACTIONS 

 The Company had the following significant related party transactions included in receivables and other current assets in the consolidated balance sheets. 

In 2012, the Company loaned its joint ventures a total of $32.0 million ($20.0 million to Sadiola and $12.0 million to Yatela) for
operating expenses. The loans bear interest at LIBOR plus 2% and are to be repaid on the earlier of December 1, 2013 for Sadiola, and September 30, 2013 for Yatela, and, at such time as the borrower has sufficient free cash flow to do so.
These loans had a balance of $32.6 million as at March 31, 2013 (December 31, 2012 – $32.3 million), including accrued interest income. 
 During 2012, Sadiola declared dividends of which $16.0 million was the Company’s share. 
 The Company has a non-interest bearing loan from Sadiola for certain services rendered which had a balance of $7.8 million as at March 31, 2013 (December 31, 2012 – $2.5 million). 

On August 31, 2011, as consideration for the sale of its shares in Gallery Gold Pty Ltd., the Company received a promissory note from
Galane in the amount of $3.8 million at an annual interest rate of 6% payable quarterly commencing November 30, 2011, and with principal payable over three years in equal installments on February 28, 2013, August 30, 2013 and
February 28, 2014. The promissory note had an outstanding balance of $2.5 million as at March 31, 2013, including accrued interest income. As at December 31, 2012, of the $3.8 million outstanding, $1.3 million was included in other
non-current assets with the remaining $2.5 million included in receivables and other current assets. 

  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 58 









	26.	SEGMENTED INFORMATION 

 Three months ended March 31, 2013 
  

																																	
	 	  	Consolidated statement of earnings information	 	 	 	 
	 	  	Revenues	 	  	Cost
of
sales 1	 	  	Depreciation
expense	 	  	General and
administrative	 	 	Exploration	 	  	Other	 	 	Earnings
(losses) from
operations	 	 	Capital
expenditures 
2	 
	 Gold mines
	  				  				  				  				 				  				 				 			
	 Suriname
	  	$	135.7	  	  	$	59.6	  	  	$	13.0	  	  	$	 —  	  	 	$	1.3	  	  	$	—  	  	 	$	61.8	  	 	$	48.3	  
	 Burkina Faso
	  	 	117.6	  	  	 	54.7	  	  	 	17.3	  	  	 	—  	  	 	 	0.3	  	  	 	—  	  	 	 	45.3	  	 	 	76.1	  
	 Canada
	  	 	—  	  	  	 	0.3	  	  	 	0.4	  	  	 	(0.1	) 	 	 	0.1	  	  	 	(2.1	) 	 	 	1.4	  	 	 	51.9	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total gold mines excluding joint ventures
	  	 	253.3	  	  	 	114.6	  	  	 	30.7	  	  	 	(0.1	) 	 	 	1.7	  	  	 	(2.1	) 	 	 	108.5	  	 	 	176.3	  
	 Niobium
	  	 	49.7	  	  	 	30.1	  	  	 	5.9	  	  	 	—  	  	 	 	—  	  	  	 	—  	  	 	 	13.7	  	 	 	18.2	  
	 Exploration and Evaluation
	  	 	—  	  	  	 	0.1	  	  	 	0.3	  	  	 	0.4	  	 	 	19.2	  	  	 	—  	  	 	 	(20.0	) 	 	 	0.2	  
	 Corporate3
	  	 	2.3	  	  	 	1.2	  	  	 	1.5	  	  	 	12.4	  	 	 	1.2	  	  	 	—  	  	 	 	(14.0	) 	 	 	—  	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total per consolidated financial statements
	  	 	305.3	  	  	 	146.0	  	  	 	38.4	  	  	 	12.7	  	 	 	22.1	  	  	 	(2.1	) 	 	 	88.2	  	 	 	194.7	  
	 Joint ventures (Mali)4
	  	 	45.0	  	  	 	31.7	  	  	 	3.0	  	  	 	—  	  	 	 	0.8	  	  	 	—  	  	 	 	9.5	  	 	 	14.4	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 
		  	$	350.3	  	  	$	177.7	  	  	$	41.4	  	  	$	12.7	  	 	$	22.9	  	  	$	(2.1	) 	 	$	97.7	  	 	$	209.1	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 

 Three months ended March 31, 2012 

 

																																	
	 	  	Consolidated statement of earnings information	 	 	 	 
	 	  	Revenues	 	  	Cost of
sales 1	 	  	Depreciation
expense	 	  	General and
administrative	 	 	Exploration	 	  	Other	 	 	Earnings
(losses) from
operations	 	 	Capital
expnditures 
2	 
	 Gold mines
	  				  				  				  				 				  				 				 			
	 Suriname
	  	$	148.5	  	  	$	56.3	  	  	$	12.5	  	  	$	 —  	  	 	$	2.6	  	  	$	—  	  	 	$	77.1	  	 	$	22.1	  
	 Burkina Faso
	  	 	149.6	  	  	 	51.0	  	  	 	18.2	  	  	 	—  	  	 	 	0.7	  	  	 	—  	  	 	 	79.7	  	 	 	41.1	  
	 Canada
	  	 	6.2	  	  	 	3.1	  	  	 	0.1	  	  	 	(0.4	) 	 	 	1.2	  	  	 	(2.8	) 	 	 	5.0	  	 	 	39.3	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total gold mines excluding joint ventures
	  	 	304.3	  	  	 	110.4	  	  	 	30.8	  	  	 	(0.4	) 	 	 	4.5	  	  	 	(2.8	) 	 	 	161.8	  	 	 	102.5	  
	 Niobium
	  	 	48.4	  	  	 	29.8	  	  	 	4.7	  	  	 	0.1	  	 	 	—  	  	  	 	0.1	  	 	 	13.7	  	 	 	15.0	  
	 Exploration and Evaluation
	  	 	—  	  	  	 	0.2	  	  	 	—  	  	  	 	0.2	  	 	 	15.0	  	  	 	—  	  	 	 	(15.4	) 	 	 	0.7	  
	 Corporate3
	  	 	1.4	  	  	 	1.0	  	  	 	1.9	  	  	 	12.8	  	 	 	—  	  	  	 	0.3	  	 	 	(14.6	) 	 	 	0.7	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total per consolidated financial statements
	  	 	354.1	  	  	 	141.4	  	  	 	37.4	  	  	 	12.7	  	 	 	19.5	  	  	 	(2.4	) 	 	 	145.5	  	 	 	118.9	  
	 Joint ventures (Mali)4
	  	 	50.1	  	  	 	37.4	  	  	 	2.5	  	  	 	—  	  	 	 	0.7	  	  	 	(0.1	) 	 	 	9.6	  	 	 	14.2	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 
		  	$	404.2	  	  	$	178.8	  	  	$	39.9	  	  	$	12.7	  	 	$	20.2	  	  	$	(2.5	) 	 	$	155.1	  	 	$	133.1	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 

  

	1 	 Excludes depreciation expense. 



	2 	 Expenditures for mining assets and exploration and evaluation assets. 



	3 	 Includes earnings from royalty interests. 



	4 	 Net earnings from joint ventures are included in a separate line in the consolidated statements of earnings. The breakdown of the financial information
has been disclosed above as it is reviewed regularly by the Company’s chief operating decision maker to assess its performance and to make resource allocation decisions. 



  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 59 









																									
	 	  	March 31, 2013	 	  	December 31, 2012	 
	 	  	Total non-
current
assets	 	  	Total
assets	 	  	Total
liabilities	 	  	Total non-
current
assets	 	  	Total
assets	 	  	Total
liabilities	 
	 Gold mines
	  				  				  				  				  				  			
	 Suriname
	  	$	767.4	  	  	$	955.8	  	  	$	282.5	  	  	$	731.3	  	  	$	876.3	  	  	$	249.4	  
	 Burkina Faso
	  	 	1,036.2	  	  	 	1,229.9	  	  	 	165.2	  	  	 	976.0	  	  	 	1,187.9	  	  	 	158.5	  
	 Canada
	  	 	801.1	  	  	 	862.2	  	  	 	146.5	  	  	 	768.1	  	  	 	823.8	  	  	 	158.0	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total gold mines
	  	 	2,604.7	  	  	 	3,047.9	  	  	 	594.2	  	  	 	2,475.4	  	  	 	2,888.0	  	  	 	565.9	  
	 Niobium
	  	 	493.0	  	  	 	555.5	  	  	 	164.1	  	  	 	481.1	  	  	 	538.4	  	  	 	162.6	  
	 Exploration and Evaluation
	  	 	546.9	  	  	 	583.4	  	  	 	10.2	  	  	 	549.9	  	  	 	593.9	  	  	 	12.7	  
	 Corporate1
	  	 	409.6	  	  	 	1,095.7	  	  	 	702.4	  	  	 	425.4	  	  	 	1,275.3	  	  	 	749.6	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total per consolidated financial statements
	  	$	4,054.2	  	  	$	5,282.5	  	  	$	1,470.9	  	  	$	3,931.8	  	  	$	5,295.6	  	  	$	1,490.8	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Joint ventures (Mali)2
	  	$	166.0	  	  	$	220.5	  	  	$	104.6	  	  	$	151.3	  	  	$	207.6	  	  	$	99.6	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

  

	1 	 The carrying amount of the joint ventures is included in the Corporate segment as non-current assets. 



	2 	 The breakdown of the financial information has been disclosed above as it is reviewed regularly by the Company’s chief operating decision maker to
assess performance of the joint ventures and to make resource allocation decisions. 



  

IAMGOLD CORPORATION 
 UNAUDITED CONSOLIDATED INTERIM FINANCIAL STATEMENTS – MARCH 31, 2013 

PAGE 60