| Notes to the consolidated annual financial statements l Note 8 |
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| 8 Finance charges and fair value movements |
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Group |
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Company |
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|
|
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|
|
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| |
|
|
2017
Rm |
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|
2016
Rm |
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|
2017
Rm |
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|
2016
Rm |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
888 |
|
|
622 |
|
|
801 |
|
|
618 |
|
| Finance charges on interest bearing debt* |
|
|
618 |
|
|
521 |
|
|
558 |
|
|
489 |
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| Local debt |
|
|
771 |
|
|
624 |
|
|
711 |
|
|
592 |
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| Less: Finance charges capitalised** |
|
|
(153) |
|
|
(103) |
|
|
(153) |
|
|
(103) |
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| Foreign exchange and fair value movements |
|
|
270 |
|
|
101 |
|
|
243 |
|
|
129 |
|
| Foreign exchange (gains)/losses |
|
|
(145) |
|
|
428 |
|
|
(169) |
|
|
457 |
|
| Fair value adjustments |
|
|
415 |
|
|
(327) |
|
|
412 |
|
|
(328) |
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| Capitalisation rate for borrowing costs (%) |
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|
11.5 |
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|
11.5 |
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|
11.5 |
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|
11.5 |
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Finance charges relate to interest expense on financial liabilities not measured at fair value through profit or loss.
The increase in foreign exchange and fair value movements was mainly as a result of hedges taken in a volatile economic environment
partly offset by a higher fair value gain on revaluation of the underlying assets held by the cell captive. |
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| * |
For interest bearing debt movement, refer to note 26. |
| ** |
Finance charges on qualifying assets are capitalised to property, plant and equipment and intangible assets. |
| Notes to the consolidated annual financial statements l Note 8 |
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