20
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Annual financial statements
Property, plant and equipment
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GROUP (R'million) |
Freehold land and buildings |
Leasehold land and buildings |
Plant, vehicles and equipment |
Right- of- use- assets* |
Total | |
| 12 | Property, plant and equipment | |||||
| 12.1 | Movement of the group property, plant and equipment | |||||
| 2022 | ||||||
| Carrying value at the beginning of the year | ||||||
| Cost | 2 104,2 | 10,8 | 8 554,2 | 714,3 | 11 383,5 | |
| Accumulated depreciation and impairment | (788,3) | (10,4) | (4 914,4) | (189,1) | (5 902,2) | |
| Net balance at the beginning of the year | 1 315,9 | 0,4 | 3 639,8 | 525,2 | 5 481,3 | |
| Current year movements – cost | ||||||
| Additions | 97,8 | – | 863,2 | 110,5 | 1 071,5 | |
| Disposals/write-offs | (3,3) | – | (201,2) | – | (204,5) | |
| Lease terminations | – | – | – | (116,9) | (116,9) | |
| Lease modifications** | – | – | – | 24,1 | 24,1 | |
| Exchange rate adjustments | (0,1) | – | (5,2) | (0,1) | (5,4) | |
| Cost movements for current year | 94,4 | – | 656,8 | 17,6 | 768,8 | |
| Current year movements – accumulated depreciation and impairment | ||||||
| Depreciation | (73,3) | – | (595,8) | (183,6) | (852,7) | |
| Impairment (refer note 14) | (0,5) | – | (12,4) | – | (12,9) | |
| Disposals/write-offs | 2,2 | – | 195,5 | – | 197,7 | |
| Lease terminations | – | – | – | 109,7 | 109,7 | |
| Exchange rate adjustments | – | – | 3,4 | 0,1 | 3,5 | |
| Accumulated depreciation and impairment movement for current year | (71,6) | – | (409,3) | (73,8) | (554,7) | |
| Carrying value at the end of the year | ||||||
| Cost | 2 198,6 | 10,8 | 9 211,0 | 731,9 | 12 152,3 | |
| Accumulated depreciation and impairment | (859,9) | (10,4) | (5 323,7) | (262,9) | (6 456,9) | |
| Net balance at the end of the year | 1 338,7 | 0,4 | 3 887,3 | 469,0 | 5 695,4 | |
| 2021 | ||||||
| Carrying value at the beginning of the year | ||||||
| Cost | 2 045,7 | 10,8 | 8 417,6 | 367,6 | 10 841,7 | |
| Accumulated depreciation and impairment | (636,7) | (10,4) | (5 059,5) | (75,7) | (5 782,3) | |
| Net balance at the beginning of the year | 1 409,0 | 0,4 | 3 358,1 | 291,9 | 5 059,4 | |
| Current year movements – cost | ||||||
| Additions | 95,3 | – | 918,4 | 425,5 | 1 439,2 | |
| Disposals/write-offs | (37,1) | – | (778,9) | (103,0) | (919,0) | |
| Lease modifications** | – | – | – | 24,2 | 24,2 | |
| Exchange rate adjustments | 0,3 | – | (2,9) | – | (2,6) | |
| Cost movements for current year | 58,5 | – | 136,6 | 346,7 | 541,8 | |
| Current year movements – accumulated depreciation and impairment | ||||||
| Depreciation | (64,6) | – | (537,6) | (196,8) | (799,0) | |
| Impairment (refer note 14) | (115,2) | – | (29,5) | (9,5) | (154,2) | |
| Disposals/write-offs | 28,2 | – | 744,1 | 93,6 | 865,9 | |
| Lease modifications** | – | – | – | 0,1 | 0,1 | |
| Exchange rate adjustments | – | – | (31,9) | (0,8) | (32,7) | |
| Accumulated depreciation and impairment movement for current year | (151,6) | – | 145,1 | (113,4) | (119,9) | |
| Carrying value at the end of the year | ||||||
| Cost | 2 104,2 | 10,8 | 8 554,2 | 714,3 | 11 383,5 | |
| Accumulated depreciation and impairment | (788,3) | (10,4) | (4 914,4) | (189,1) | (5 902,2) | |
| Net balance at the end of the year | 1 315,9 | 0,4 | 3 639,8 | 525,2 | 5 481,3 |
| * | Refer 12.3 for detailed breakdown of right-of-use assets. | |
| ** | Relates to modifications to leases due to changing in terms, rates and exchange rates. |
| 12.2 | No borrowing costs were capitalised during the current year. Borrowing costs of: R11,1 million was capitalised during the prior year at an average effective rate of 5%. A full list of title deeds are available at the registered office for inspection. |
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| 12.3 | Right-of-use assets The group has lease contracts for various items of property, vehicles and information technology equipment used in its operations. The property leases have lease terms between two to ten years, vehicles between one to eight years, and all other leases are between one to five years. The group’s obligations under its leases are secured by the lessor’s title to the leased assets. Set out below are the carrying amounts of right-of-use assets recognised and the movements during the year:
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