|
| |
|
|
Group |
|
|
|
|
Company |
|
|
| |
|
|
2013
Rm |
|
2012
Rm |
|
|
|
|
2013
Rm |
|
2012
Rm |
|
|
| 37. |
COMMITMENTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Capital commitments authorised |
|
7,542 |
|
7,480 |
|
|
|
|
7,501 |
|
7,400 |
|
|
| |
Telkom |
|
7,293 |
|
6,768 |
|
|
|
|
7,294 |
|
6,768 |
|
|
| |
Other |
|
249 |
|
712 |
|
|
|
|
207 |
|
632 |
|
|
| |
International |
|
– |
|
2 |
|
|
|
|
– |
|
– |
|
|
| |
South Africa |
|
249 |
|
710 |
|
|
|
|
2,854 |
|
632 |
|
|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Commitments against authorised capital
expenditure |
|
2,855 |
|
827 |
|
|
|
|
2,854 |
|
821 |
|
|
| |
Telkom |
|
2,829 |
|
789 |
|
|
|
|
2,829 |
|
789 |
|
|
| |
Other |
|
26 |
|
38 |
|
|
|
|
25 |
|
32 |
|
|
| |
International |
|
– |
|
– |
|
|
|
|
– |
|
– |
|
|
| |
South Africa |
|
26 |
|
38 |
|
|
|
|
25 |
|
32 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Authorised capital expenditure not yet
contracted |
|
4,687 |
|
6,653 |
|
|
|
|
4,646 |
|
6,579 |
|
|
| |
Telkom |
|
4,464 |
|
5,979 |
|
|
|
|
4,464 |
|
5,979 |
|
|
| |
Other |
|
223 |
|
674 |
|
|
|
|
182 |
|
600 |
|
|
| |
International |
|
– |
|
2 |
|
|
|
|
– |
|
– |
|
|
| |
South Africa |
|
223 |
|
672 |
|
|
|
|
182 |
|
600 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Capital commitments are largely attributable to purchases of property, plant and equipment and software (included in intangible assets).
Management expects these commitments to be financed from internally generated cash and borrowings. |
| |
|
Total
Rm |
|
<1 year
Rm |
|
1 to 5 years
Rm |
|
>5 years
Rm |
|
| |
Group
Operating lease commitments and receivables |
|
|
|
|
|
|
|
|
| |
2013 |
|
|
|
|
|
|
|
|
| |
Land and buildings |
1,321 |
|
340 |
|
772 |
|
209 |
|
| |
Rental receivable on buildings |
(522) |
|
(226) |
|
(288) |
|
(8) |
|
| |
Customer premises equipment receivables |
(40) |
|
(22) |
|
(18) |
|
– |
|
| |
Total |
759 |
|
92 |
|
466 |
|
201 |
|
| |
2012 |
|
|
|
|
|
|
|
|
| |
Land and buildings |
675 |
|
197 |
|
378 |
|
100 |
|
| |
Vehicles |
311 |
|
311 |
|
– |
|
– |
|
| |
Equipment |
6 |
|
6 |
|
– |
|
– |
|
| |
Rental receivable on buildings |
(403) |
|
(154) |
|
(249) |
|
– |
|
| |
Customer premises equipment receivables |
(42) |
|
(30) |
|
(12) |
|
– |
|
| |
Total |
547 |
|
330 |
|
117 |
|
100 |
|
| |
|
Total
Rm |
|
<1 year
Rm |
|
1 to 5 years
Rm |
|
>5 years
Rm |
|
| |
Company
Operating lease commitments and receivables |
|
|
|
|
|
|
|
|
| |
2013 |
|
|
|
|
|
|
|
|
| |
Land and buildings |
1,164 |
|
309 |
|
670 |
|
185 |
|
| |
Rental receivable on buildings |
(522) |
|
(226) |
|
(288) |
|
(8) |
|
| |
Customer premises equipment receivables |
(40) |
|
(22) |
|
(18) |
|
– |
|
| |
Total |
602 |
|
61 |
|
364 |
|
177 |
|
| |
2012 |
|
|
|
|
|
|
|
|
| |
Land and buildings |
504 |
|
167 |
|
284 |
|
53 |
|
| |
Vehicles |
311 |
|
311 |
|
– |
|
– |
|
| |
Equipment |
6 |
|
6 |
|
– |
|
– |
|
| |
Rental receivable on buildings |
(403) |
|
(154) |
|
(249) |
|
– |
|
| |
Customer premises equipment receivables |
(42) |
|
(30) |
|
(12) |
|
– |
|
| |
Total |
376 |
|
300 |
|
23 |
|
53 |
|
| |
Operating leases
The Group leases certain buildings, vehicles and equipment. The majority of the lease terms negotiated for equipment related premises are
ten years with other leases signed for five and three years. The majority of the leases contain an option clause entitling Telkom to renew the
lease agreements for a period usually equal to the main lease term.
The minimum lease payments under these agreements are subject to annual escalations, which range from 6% to 15%.
Penalties in terms of the lease agreements are only payable should Telkom vacate a premises and negotiate to terminate the lease agreement
prior to the expiry date, in which case the settlement payment will be negotiated in accordance with the market conditions of the premises.
Future minimum lease payments under operating leases are included in the above note. Onerous leases for buildings, of which the Company
has no further use, no possibility of sub-lease and no option to cancel are provided for in full and included in other provisions.
Telkom is in negotiations with various suppliers to renew the commitments. |
| |
|
Total
Rm |
|
<1 year
Rm |
|
1 to 5 years
Rm |
|
>5 years
Rm |
|
| |
Group finance lease commitments |
|
|
|
|
|
|
|
|
| |
2013 |
|
|
|
|
|
|
|
|
| |
Building |
|
|
|
|
|
|
|
|
| |
Minimum lease payments |
1,153 |
|
157 |
|
792 |
|
204 |
|
| |
Finance charges |
(383) |
|
(100) |
|
(271) |
|
(12) |
|
| |
Finance lease obligation |
770 |
|
57 |
|
521 |
|
192 |
|
| |
2012 |
|
|
|
|
|
|
|
|
| |
Building |
|
|
|
|
|
|
|
|
| |
Minimum lease payments |
1,297 |
|
143 |
|
722 |
|
432 |
|
| |
Finance charges |
(490) |
|
(106) |
|
(332) |
|
(52) |
|
| |
Finance lease obligation |
807 |
|
37 |
|
390 |
|
380 |
|
| |
Vehicles |
|
|
|
|
|
|
|
|
| |
Minimum lease payments |
47 |
|
47 |
|
– |
|
– |
|
| |
Finance charges |
(3) |
|
(3) |
|
– |
|
– |
|
| |
Finance lease obligation |
44 |
|
44 |
|
– |
|
– |
|
| |
|
Total
Rm |
|
<1 year
Rm |
|
1 to 5 years
Rm |
|
>5 years
Rm |
|
| |
Company finance lease commitments |
|
|
|
|
|
|
|
|
| |
2013 |
|
|
|
|
|
|
|
|
| |
Building |
|
|
|
|
|
|
|
|
| |
Minimum lease payments |
1,149 |
|
155 |
|
790 |
|
204 |
|
| |
Finance charges |
(383) |
|
(100) |
|
(271) |
|
(12) |
|
| |
Finance lease obligation |
766 |
|
55 |
|
519 |
|
192 |
|
| |
2012 |
|
|
|
|
|
|
|
|
| |
Building |
|
|
|
|
|
|
|
|
| |
Minimum lease payments |
1,290 |
|
141 |
|
718 |
|
431 |
|
| |
Finance charges |
(489) |
|
(106) |
|
(331) |
|
(52) |
|
| |
Finance lease obligation |
801 |
|
35 |
|
387 |
|
379 |
|
| |
Vehicles |
|
|
|
|
|
|
|
|
| |
Minimum lease payments |
47 |
|
47 |
|
– |
|
– |
|
| |
Finance charges |
(3) |
|
(3) |
|
– |
|
– |
|
| |
Finance lease obligation |
44 |
|
44 |
|
– |
|
– |
|
| |
Finance leases
Finance leases on vehicles relates to the lease of Swap bodies. The lease term for the Swap bodies is April 2008 to March 2013 and Telkom is
in negotiations with various suppliers to renew the commitments in this regard.
A major portion of the finance leases relates to the sale and lease-back of the Group’s office buildings. The lease term negotiated for the
buildings is for a period of 25 years ending 2019. The minimum lease payments are subject to an annual escalation of 10% p.a. Telkom has
the right to sub-let part of the buildings. In case of breach of contract, the lessor is entitled to cancel the lease agreement and claim damages.
Telkom has the option to renew the lease and the first option to purchase the buildings. Telkom expects to pay R1,15 billion on these buildings
over the next six years. Refer to note 18 for lease payments.
Telkom has a commitment to migrate customers to new cable systems with regard to long-term capacity leases on cables when the existing
cables are decommissioned before the lease period expires. Refer to note 18 for lease payments.
There are no major restrictions imposed by lease arrangements. |
|
|
|
