Abstract
Analytical and numerical investigations are carried out to reveal the frequency and magnetization orientation dependences of the conductivity tensor components. Analysis of the perturbatively obtained expressions shows that the peculiarities of the tensor components that are even in magnetization are immediately related with the spin-flip transitions. The corresponding identification of the peculiarities of the orientation magneto-optical Kerr effect can allow one to extract the magnitude of an exchange splitting from experimental data. The results of application to Ni are presented.