5. FINANCE EXPENSE
ACCOUNTING POLICY
Finance expense comprises interest on borrowings, environmental rehabilitation obligation, occupational healthcare obligation and Deferred Payment and offset by borrowing costs capitalised on qualifying assets.
Interest payable on borrowings is recognised in profit or loss over the term of the borrowings using the effective interest method. Cash flows from interest paid are classified under operating activities in the statement of cash flows.
|
Figures in million - SA rand |
Notes |
2017 | 2016 | 2015 |
|
Interest charge on: |
||||
|
Borrowings - interest paid |
24 |
(2,091.9) |
(427.5) |
(247.9) |
|
Borrowings - accrued interest and unwinding of amortised cost |
24 |
(251.8) |
(141.4) |
(102.3) |
|
Environmental rehabilitation obligation |
25 |
(357.1) |
(291.4) |
(197.9) |
|
Occupational healthcare obligation |
26 |
(46.4) |
- |
- |
|
Deferred payment |
18.2 |
(148.2) |
(24.1) |
- |
|
Other |
(76.4) |
(18.7) |
(13.7) |
|
|
Total finance expense |
(2,971.8) |
(903.1) |
(561.8) |