Net finance costs

12 Months Ended

Jun. 30, 2023

6	Net finance costs


		2023		2022	2021
for the year ended 30 June	Note	Rm		Rm	Rm
Finance income
Notional interest received			—	29	4
Interest received on			2 253	991	852
other long-term investments			58	49	40
loans and receivables			89	141	199
cash and cash equivalents			2 106	801	613
Per income statement			2 253	1 020	856
Less: notional interest			—	(29)	(4)
Less: interest received on tax			(11)	(5)	(15)
Per the statement of cash flows			2 242	986	837
Finance costs
Debt			7 408	5 419	5 238
debt			7 408	5 066	4 855
interest rate swap – net settlements			—	353	383
Interest on lease liabilities			1 451	1 357	1 488
Other			146	95	84
			9 005	6 871	6 810
Amortisation of loan costs	14		212	132	160
Notional interest			1 116	633	668
Total finance costs			10 333	7 636	7 638
Amounts capitalised to assets under construction, a class of property, plant and equipment	17		(1 074)	(740)	(880)
Per income statement			9 259	6 896	6 758
Total finance costs before amortisation of loan costs and notional interest			9 005	6 871	6 810
Add: modification gain			—	74	—
Add: amortisation of modification gain			194	—	—
Less: unwinding of loan costs¹			(144)	—	—
Less: interest accrued on long-term debt, lease liabilities and short-term debt			(1 966)	(1 463)	(637)
Less: interest raised on tax payable			(6)	(4)	—
Per the statement of cash flows			7 083	5 478	6 173

RCF loan costs expensed upon refinancing of banking facilities.