Notes to the financial statements | Note 3.7

3. Performance
3.7 Changes in liabilities arising from financing activities
 
  Group
2024  Derivative 
liabilities - 
interest rate 
swaps 
Rm 		 Interest- 
bearing 
debt 
Rm 		 Lease 
liabilities 
Rm 		 Total 
Rm 
Balance as at 31 March 2023  16  14 356  5 888  20 260 
Cash flow movements  –  (150) (1 792) (1 942)
Loans raised  –  9 363  –  9 363 
Loans repaid  –  (9 513) –  (9 513)
Repayment of lease liability1  –  –  (1 792) (1 792)
Non-cash flow movements  (16) 11  2 365  2 360 
Foreign exchange revaluation on loans  –  (9) –  (9)
Insurance premium amortised  –  16  –  16 
Finance charges capitalised to interest-bearing debt2  –  4  –  4 
Additions to lease liabilities  –  –  1 417  1 417 
Termination of leases  –  –  (88) (88)
Lease modifications  –  –  544  544 
IFRS 16 interest capitalised  –  –  602  602 
Accrued lease payments  –  –  70  70 
Valuation gain  (16) –  –  (16)
Leases transferred to non-current assets held for sale  –  –  (180) (180)
Balance as at 31 March 2024  –  14 217  6 461  20 678 
 
2023             
Balance as at 31 March 2022  69  11 932  5 374  17 375 
Cash flow movements  (53) 2 320  (1 571) 696 
Repayment of derivatives  (53) –  –  (53)
Loans raised  –  25 970  –  25 970 
Loans repaid  –  (23 650) –  (23 650)
Repayment of lease liability1  –  –  (1 571) (1 571)
Non-cash flow movements  –  104  2 085  2 189 
Foreign exchange revaluation on loans  –  21  –  21 
Finance charges capitalised to interest-bearing debt2  –  72  –  72 
Insurance premium amortised  –  11  –  11 
Additions to lease liabilities  –  –  1 203  1 203 
Termination of leases  –  –  (144) (144)
Lease modifications  –  –  538  538 
IFRS 16 interest capitalised  –  –  488  488 
Balance as at 31 March 2023  16  14 356  5 888  20 260 
1 Repayment of lease liability includes interest repayments of R602 million (31 March 2023: R488 million) for Group and R468 million (31 March 2023: R464 million) for Company which are classified as operating activities in the statement of cash flows. Repayment of capital portion in the statement of cash flows includes a prepayment of R2 million (31 March 2023: R3 million) for Group and Company. The payments were further increased by the movement of R10 million for Group and R11 million for Company in accrued lease payments.
 
 
   Company 
2024  Derivative 
liabilities -  
interest rate 
swaps 
Rm 		 Interest- 
bearing 
debt 
Rm 		 Lease 
liabilities 
Rm 		 Total 
Rm 
Balance as at 31 March 2023 as previously reported  16  14 356  5 355  19 727 
Cash flow movements  –  (150) (1 669) (1 819)
Loans raised  –  9 363  –  9 363 
Loans repaid  –  (9 513) –  (9 513)
Repayment of lease liability1  –  –  (1 669) (1 669)
Non-cash flow movements  63  11  1 467  1 541 
Foreign exchange revaluation on loans  –  (9) –  (9)
Insurance premium amortised  –  16  –  16 
Finance charges capitalised to interest-bearing debt2  –  4  –  4 
Additions to lease liabilities  –  –  495  495 
Termination of leases  –  –  (199) (199)
Lease modifications  –  –  624  624 
IFRS 16 interest capitalised  –  –  468  468 
Accrued lease payments  79  –  79  158 
Valuation gain  (16) –  –  (16)
Balance as at 31 March 2024  79  14 217  5 153  19 449 
 
2023             
Balance as at 31 March 2022  69  11 932  6 103  18 104 
Cash flow movements  (53) 2 320  (1 775) 492 
Repayment of derivatives  (53) –  –  (53)
Loans raised  –  25 970  –  25 970 
Loans repaid  –  (23 650) –  (23 650)
Repayment of lease liability1  –  –  (1 775) (1 775)
Non-cash flow movements  –  104  1 027  1 131 
Foreign exchange revaluation on loans  –  21  –  21 
Finance charges capitalised to interest-bearing debt2  –  72  –  72 
Insurance premium amortised  –  11  –  11 
Additions to lease liabilities  –  –  1 068  1 068 
Termination of leases  –  –  (166) (166)
Lease modifications  –  –  963  963 
IFRS 16 interest capitalised  –  –  464  464 
Leases transferred from Trudon  –  –  26  26 
Leases transferred to Openserve  –  –  (1 328) (1 328)
Balance as at 31 March 2023  16  14 356  5 355  19 727 
1 Repayment of lease liability includes interest repayments of R602 million (31 March 2023: R488 million) for Group and R468 million (31 March 2023: R464 million) for Company which are classified as operating activities in the statement of cash flows. Repayment of capital portion in the statement of cash flows includes a prepayment of R2 million (31 March 2023: R3 million) for Group and Company. The payments were further increased by the movement of R10 million for Group and R11 million for Company in accrued lease payments.
2 Interest accruals include the effect of interest amortised and accrued for in the closing balance of interest-bearing debt.