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Remeasurement items affecting operating profit (Tables) | 12 Months Ended
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Jun. 30, 2018
Remeasurement items affecting operating profit |
Schedule of remeasurement items affecting operating profit |
|  |  |  | 2018 |  | 2017 |  | 2016 |
for the year ended 30 June |  | Note |  | Rm |  | Rm |  | Rm |
Effect of remeasurement items for subsidiaries and joint operations |  |  |  |  |  |  |  |  |
Impairment of |  |  |  | 9 115 |  | 2 477 |  | 12 320 |
property, plant and equipment |  | 17 |  | 7 623 |  | 415 |  | 8 424 |
assets under construction |  | 18 |  | 1 492 |  | 1 942 |  | 3 586 |
goodwill and other intangible assets |  |  |  | — |  | 120 |  | 310 |
Reversal of impairment of |  |  |  | (354 | ) | (1 136 | ) | — |
property, plant and equipment |  | 17 |  | — |  | (272 | ) | — |
assets under construction |  | 18 |  | (14 | ) | (849 | ) | — |
goodwill and other intangible assets |  |  |  | (56 | ) | — |  | — |
equity accounted investments |  |  |  | (269 | ) | (15 | ) | — |
other assets |  |  |  | (15 | ) | — |  | — |
Fair value write down - assets held for sale |  |  |  | — |  | 64 |  | — |
Loss/(profit) on |  | 10 |  | 828 |  | 211 |  | 936 |
disposal of property, plant and equipment |  |  |  | (3 | ) | (25 | ) | (412 | )
disposal of goodwill and other intangible assets |  |  |  | 11 |  | 4 |  | 24 |
disposal of other assets |  |  |  | (1 | ) | — |  | (1 | )
disposal of businesses |  |  |  | (833 | ) | (51 | ) | 226 |
scrapping of property, plant and equipment |  |  |  | 454 |  | 183 |  | 266 |
disposal and scrapping of assets under construction |  |  |  | 1 200 |  | 100 |  | 833 |
Write-off of unsuccessful exploration wells |  | 18 |  | 312 |  | — |  | (3 | )
Realisation of foreign currency translation reserve |  |  |  | — |  | — |  | (361 | )
Remeasurement items per income statement |  |  |  | 9 901 |  | 1 616 |  | 12 892 |
Tax effect |  |  |  | (1 834 | ) | (532 | ) | (829 | )
Non-controlling interest effect |  |  |  | (9 | ) | (7 | ) | (17 | )
Total remeasurement items for subsidiaries and joint operations, net of tax |  |  |  | 8 058 |  | 1 077 |  | 12 046 |
Effect of remeasurement items for equity accounted investments |  |  |  | 11 |  | 14 |  | 13 |
Total remeasurement items for the group, net of tax |  |  |  | 8 069 |  | 1 091 |  | 12 059 |
Schedule of main assumptions used for impairment calculations |
|  |  |  | 2018 |  | 2017 |  | 2016 |
Long-term average crude oil price (Brent) (nominal)* |  | US$/bbl |  | 73,91 |  | 74,29 |  | 85,37 |
Long-term average gas price (Henry Hub), excluding margins (real)* |  | US$/mmbtu |  | 3,49 |  | 3,69 |  | 3,73 |
Long-term average ethane price (nominal)* |  | US$c/gal |  | 37,42 |  | 44,27 |  | 62,49 |
Long-term average exchange rate* |  | Rand/US$ |  | 13,57 |  | 14,71 |  | 14,95 |
| * |  | Assumptions are provided on a long-term average basis. The 2018 and 2017 oil price and exchange rate assumptions are calculated based on a five year period, while the ethane price is calculated based on a ten year period. The Henry Hub gas price is linked to the plant’s useful life and calculated until 2041. Oil price and exchange rate assumptions provided for 2016 are based on a ten year period.
|  |  |  |  |  | United |  |  |  |  |
|  |  |  | South |  | States of |  |  |  |  |
|  |  |  | Africa |  | America |  | Europe |  | Canada |
|  |  |  | % |  | % |  | % |  | % |
Growth rate — long-term Producer Price Index |  | 2018 |  | 5,50 |  | 2,00 |  | 2,00 |  | 2,00 |
Weighted average cost of capital* |  | 2018 |  | 12,71 |  | 7,56 |  | 7,68 - 9,35 |  | 7,68 |
Discount rate — risk adjusted |  | 2018 |  | 12,71 |  | 7,56 |  | 7,68 - 9,35 |  | 10,00 |
Growth rate — long-term Producer Price Index |  | 2017 |  | 5,50 |  | 2,00 |  | 2,00 |  | 2,00 |
Weighted average cost of capital* |  | 2017 |  | 12,50 |  | 6,60 |  | 6,60 - 8,22 |  | 6,60 |
Discount rate — risk adjusted |  | 2017 |  | 12,50 |  | 6,60 |  | 6,60 - 8,22 |  | 9,50 - 9,80 |
Growth rate — long-term Producer Price Index |  | 2016 |  | 6,02 |  | 2,52 |  | 1,80 |  | 2,00 |
Weighted average cost of capital* |  | 2016 |  | 14,05 |  | 8,00 |  | 8,00 - 9,35 |  | 8,00 |
Discount rate — risk adjusted |  | 2016 |  | 14,05 |  | 8,00 |  | 8,00 - 9,35 |  | 9,50 - 9,80 |
| * |  | Calculated using spot market factors on 30 June.
Schedule of significant impairments and reversals |
|  |  |  |  |  |  |  | Goodwill |  |  |  |  |
|  |  |  | Property, |  | Assets |  | and other |  |  |  |  |
|  |  |  | plant and |  | under |  | intangible |  |  |  |  |
|  |  |  | equipment |  | construction |  | assets |  | Other |  | Total |
|  | Business |  | 2018 |  | 2018 |  | 2018 |  | 2018 |  | 2018 |
Cash-generating unit (CGU) |  | segmentation |  | Rm |  | Rm |  | Rm |  | Rm |  | Rm |
Chlor Vinyls value chain |  | Base Chemicals |  | 4 866 |  | 299 |  | — |  | — |  | 5 165 |
Sasol Canada — Shale gas assets |  | Exploration and Production International |  | 2 714 |  | 50 |  | — |  | — |  | 2 764 |
Sasol Petroleum Mozambique — Production |  | Exploration and Production International |  | — |  | 1 143 |  | — |  | — |  | 1 143 |
Sharing Agreement (PSA) |  |  |  |  |  |  |  |  |  |  |  |  |
Other |  | Various |  | 43 |  | (14 | ) | (56 | ) | (284 | ) | (311 | )
|  |  |  | 7 623 |  | 1 478 |  | (56 | ) | (284 | ) | 8 761 |
Schedule of carrying value of Montney assets |
|  | 2018 |
|  | CADm |
Property, plant and equipment (including mineral assets) |  | 315 |
Short-term rehabilitation provision |  | (8 | )
Final carry payable on 1 July 2018 |  | (75 | )
Carrying value |  | 232 |

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