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Net finance costs (Tables)

12 Months Ended

Jun. 30, 2021

Net finance costs

Schedule of net finance costs, finance income

​

​	​	​	​	​	​	​	​	​	​	​
​	​		​	​	2021	​	2020	​	2019
for the year ended 30 June		Note			Rm		Rm		Rm
Finance income	​			​						​
Dividends received from investments	​			​	–		44		42	​
Notional interest received	​			​	4		102		—	​
Interest received on	​			​	852		776		745	​
other long-term investments	​			​	40		28		27	​
loans and receivables	​			​	199		293		334	​
cash and cash equivalents	​			​	613		455		384	​
Per income statement	​			​	856		922		787	​
Less: notional interest	​			​	(4)		(102)		—	​
Less: interest received on tax	​			​	(15)		(28)		(105)	​
Per the statement of cash flows	​			​	837		792		682	​
Finance costs	​			​	​					​
Debt	​			​	5 238		8 226		6 088	​
debt	​			​	4 855		8 090		6 044	​
interest rate swap – net settlements	​			​	383		136		44	​
Preference share dividends	​			​	–		—		116	​
Interest on lease liabilities	​			​	1 488		1 465		871	​
Other¹	​			​	84		52		(462)	​
​	​	​		​	6 810		9 743		6 613	​
Amortisation of loan costs	​	17		​	160		135		725	​
Notional interest	​	33		​	668		945		857	​
Total finance costs	​			​	7 638		10 823		8 195	​
Amounts capitalised to assets under construction a class of Property, plant and equipment²	​	20		​	(880)		(3 520)		(6 942)	​
Per income statement	​			​	6 758		7 303		1 253	​
Total finance costs before amortisation of loan costs and notional interest	​			​	6 810		9 743		6 613	​
Add: modification (loss)/gain	​	17		​	–		(1 193)		109	​
Less: interest accrued on long-term debt, lease liabilities and short-term debt	​	​		​	(637)		(1 412)		(1 025)	​
Less: interest reversed on tax payable	​			​	–		16		525	​
Per the statement of cash flows	​			​	6 173		7 154		6 222	​

1 Interest accrued on tax payable in 2019 relates mainly to our tax litigation claim.

2 Finance costs capitalised decreased due to the LCCP units reaching beneficial operation.

Schedule of net finance costs, finance costs

​

​	​	​	​	​	​	​	​	​	​	​
​	​		​	​	2021	​	2020	​	2019
for the year ended 30 June		Note			Rm		Rm		Rm
Finance income	​			​						​
Dividends received from investments	​			​	–		44		42	​
Notional interest received	​			​	4		102		—	​
Interest received on	​			​	852		776		745	​
other long-term investments	​			​	40		28		27	​
loans and receivables	​			​	199		293		334	​
cash and cash equivalents	​			​	613		455		384	​
Per income statement	​			​	856		922		787	​
Less: notional interest	​			​	(4)		(102)		—	​
Less: interest received on tax	​			​	(15)		(28)		(105)	​
Per the statement of cash flows	​			​	837		792		682	​
Finance costs	​			​	​					​
Debt	​			​	5 238		8 226		6 088	​
debt	​			​	4 855		8 090		6 044	​
interest rate swap – net settlements	​			​	383		136		44	​
Preference share dividends	​			​	–		—		116	​
Interest on lease liabilities	​			​	1 488		1 465		871	​
Other¹	​			​	84		52		(462)	​
​	​	​		​	6 810		9 743		6 613	​
Amortisation of loan costs	​	17		​	160		135		725	​
Notional interest	​	33		​	668		945		857	​
Total finance costs	​			​	7 638		10 823		8 195	​
Amounts capitalised to assets under construction a class of Property, plant and equipment²	​	20		​	(880)		(3 520)		(6 942)	​
Per income statement	​			​	6 758		7 303		1 253	​
Total finance costs before amortisation of loan costs and notional interest	​			​	6 810		9 743		6 613	​
Add: modification (loss)/gain	​	17		​	–		(1 193)		109	​
Less: interest accrued on long-term debt, lease liabilities and short-term debt	​	​		​	(637)		(1 412)		(1 025)	​
Less: interest reversed on tax payable	​			​	–		16		525	​
Per the statement of cash flows	​			​	6 173		7 154		6 222	​

1 Interest accrued on tax payable in 2019 relates mainly to our tax litigation claim.

2 Finance costs capitalised decreased due to the LCCP units reaching beneficial operation.

X

- Definition

The disclosure of finance cost. [Refer: Finance costs]

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The disclosure of finance income. [Refer: Finance income]

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