31 WWWNEW G O L D C O M TSXNGD NY SE Am er ic an NG D Adjusted Net Earnings and Adjusted Net Earn ings from Continuing Operations per Share Adju s ted net earnin g s fro m conti nui ng operation s a nd adj uste d net ear ni ng s from continui n g operation s per share are nonGAAP financi a l me asures with no standard m e ani ng under IFRS whi c h excl ude the followin g fro m net earni ng s Invento r y writ edo wn s Items inclu d e d in Othe r ga ins an d losse s a s pe r Not e 3 of the Co mpan ys con s olidated financi a l state m ents and Certai n non recu rri ng item s Earnin gs fro m continui ng operation s ha ve be en adj u s ted incl udin g the asso ciat ed tax imp a ct for the group of co sts in O ther gai ns a n d losse s on the co nde nse d con s oli date d inco me statem ents Ke y entrie s in this grou ping a r e the fair val u e chan ge s for the gold stre am oblig ation the gold an d cop p e r opti on co ntra cts foreign e x cha nge forward contract s foreign excha n g e gain or loss and loss on dispo s al of asset s The adju s ted entri es are also i m pacte d for tax to the exte nt that the underl y ing e n tri e s are impa cted for tax in the unadj uste d net earni ng s The Comp an y u s e s adju s t ed net ea rni n gs for it s o w n internal purp o se s Man a g e ments i n ternal bud gets and fore ca st s and p ubli c guidan ce d o not refle c t the items whi c h ha ve been e x clud ed from the determi nation of adjusted net earni ng s Con s equ entl y the pre s en tation of adjusted net ea rn ings en able s sha r eh olde rs to better understand the underl y in g operatin g perf o rma n ce of our core mi n i ng busi n e ss throug h the eye s of man ageme n t Managem ent pe riodi call y eval uates the co m pone nts of adju s ted net earni ng s ba sed on an int e rnal a s se ssment of performa n ce me asu r e s that are useful for eval uating th e operating performance of our business and a revi ew of the nonGAAP measures used by m i ning industry anal yst s and other mini ng comp anie s Adjuste d net earnin g s a r e in tended to pro v ide a ddition al information only a nd do e s not ha ve a n y sta nda rdi z ed meani ng unde r IFRS and ma y not be com para b le to similar measures prese n ted by o t her com pani es It should not be consi dere d in isolation or as a substitute for measures of perfo rman ce prep ared in a c cord an ce with IFRS The measure is n o t necessa rily indicative of operating pro f it or cash flo w s from o perations a s det ermin ed und er IFRS The following tab l e recon c iles this non GAA P measu r e to the most dire ctly compa r a b le IFRS mea s ure Three mont hs ended March 31 in millions of U S dolla rs except where not ed 202 0 201 9 ADJUST E D NET LOSS RE CONC ILIAT I ON Los s befor e t a x e s 231 97 Other l o s s e s gain s 1 39 87 Inv ent ory writed o w n 30 Adjus t e d n e t l o s s befor e t a x e s 162 10 Inc o m e tax rec o v e ry ex pens e 52 37 In co me ta x ad j u stme n t s 36 29 Adjus t e d i n c o m e t a x ex pens e r e c o v e ry 16 08 Adjus t e d n e t l os s earn i ngs 178 18 Adjus t e d l os s ea rnings per s har e bas ic an d d ilut ed 003 000 1 Please ref e r t o Not e 3 o f t he Companys unaudit ed condensed cons olid at ed f i nancial st at ement s f o r a det ailed breakdown of ot her gains and losses