Condensed group statement of changes in equity
| Download (EXCEL) |
| Other components of equity | ||||||
| Share capital Rm |
Foreign currency translation Rm |
Financial instruments revaluation Rm |
Equity- settled Rm |
Retirement benefit obligation Rm |
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| At 31 December 2015 (Audited) | 2 445 | 4 922 | 241 | 2 008 | (205) | |
| Profit for the year | ||||||
| Other comprehensive loss | (45) | |||||
| Share of associates' reclassification of equity | (557) | |||||
| Share of comprehensive (loss)/income of equity-accounted investments | (466) | (218) | 242 | (57) | ||
| Issue of share capital1 | 64 | |||||
| Share-based payments movement | 205 | |||||
| Dividends paid | ||||||
| Share repurchase2 | ||||||
| Disposal of foreign subsidiaries3 | (401) | |||||
| At 31 December 2016 (Audited) | 2 509 | 4 010 | 23 | 1 898 | (262) | |
| Profit for the year | ||||||
| Other comprehensive loss | (62) | (29) | ||||
| Share of comprehensive (loss)/income of equity-accounted investments | (154) | (65) | 203 | 42 | ||
| Issue of share capital1 | 10 705 | |||||
| Share-based payments movement4 | 4 057 | |||||
| Dividends paid | ||||||
| Share repurchase2 | (1 951) | |||||
| Treasury shares5 | (10 242) | |||||
| Disposal of an associate6 | (1 332) | 1 | (286) | 91 | ||
| Liquidation of subsidiaries7 | 58 | |||||
| Reclassification within equity8 | ||||||
| At 31 December 2017 (Reviewed) | 1 021 | 2 520 | (41) | 5 872 | (158) | |
| Other components of equity | |||||||
| Available- for-sale revaluation Rm |
Other Rm |
Retained earnings Rm |
Attributable to owners of the parent Rm |
Non- controlling interests Rm |
Total equity Rm |
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| At 31 December 2015 (Audited) | (55) | 25 670 | 35 026 | (800) | 34 226 | ||
| Profit for the year | 5 679 | 5 679 | 12 | 5 691 | |||
| Other comprehensive loss | (5) | (50) | (50) | ||||
| Share of associates' reclassification of equity | 557 | ||||||
| Share of comprehensive (loss)/income of equity-accounted investments | (499) | (499) | |||||
| Issue of share capital1 | 64 | 64 | |||||
| Share-based payments movement | 205 | 205 | |||||
| Dividends paid | (625) | (625) | (625) | ||||
| Share repurchase2 | (3 524) | (3 524) | (3 524) | ||||
| Disposal of foreign subsidiaries3 | (401) | (401) | |||||
| At 31 December 2016 (Audited) | (60) | (3 524) | 31 281 | 35 875 | (788) | 35 087 | |
| Profit for the year | 5 982 | 5 982 | 50 | 6 032 | |||
|---|---|---|---|---|---|---|---|
| Other comprehensive loss | (14) | (105) | (105) | ||||
| Share of comprehensive (loss)/income of equity-accounted investments | 26 | 26 | |||||
| Issue of share capital1 | 10 705 | 10 705 | |||||
| Share-based payments movement4 | 4 057 | 4 057 | |||||
| Dividends paid | (2 227) | (2 227) | (2 227) | ||||
| Share repurchase2 | 3 524 | (4 268) | (2 695) | (2 695) | |||
| Treasury shares5 | (10 242) | (10 242) | |||||
| Disposal of an associate6 | 195 | (1 331) | (1 331) | ||||
| Liquidation of subsidiaries7 | 58 | 58 | |||||
| Reclassification within equity8 | 1 | (1) | |||||
| At 31 December 2017 (Reviewed) | (74) | 1 | 30 962 | 40 103 | (738) | 39 365 | |
| 1 | For 2017, the issue of share capital comprises the vesting of Mpower 2012 treasury shares to good leavers and beneficiaries upon final vesting of the share-based payment scheme on 31 May 2017 amounting to R464 million. In addition, there was an issue of 67 221 565 ordinary shares to NewBEECo at a discounted share price of R73,92 per share which had a market share price of R152,35 on 11 December 2017. For 2016, the issue of share capital comprises the vesting of Mpower 2012 treasury shares to good leavers. |
| 2 | Exxaro executed two repurchases during the year. Exxaro repurchased 43 943 744 ordinary shares from Main Street 333 for a purchase consideration of R3 524 million during January and Exxaro repurchased 22 686 572 ordinary shares from Main Street 333 for a purchase consideration of R2 695 million during December. |
| 3 | Gain on translation difference recycled to profit or loss on the disposal of the Mayoko iron ore project and related subsidiaries. |
| 4 | Comprises the final vesting of Mpower 2012 shares as well as the potential benefit to be obtained by the BEE Parties amounting to R4 245 million. |
| 5 | 107 612 026 ordinary shares held by NewBEECo in Exxaro which are accounted for as treasury shares on consolidation of NewBEECo. |
| 6 | During October 2017, Exxaro disposed of 22 425 000 Class A Tronox Limited ordinary shares which resulted in a gain on translation differences being recycled to profit or loss, the release of a loss from the financial instruments revaluation reserve to profit or loss, a net reclassification within equity from retirement benefit obligation reserve and equity-settled reserve to retained earnings. |
| 7 | Gain on translation difference recycled to profit or loss on the liquidation of a foreign subsidiary (Exxaro Mineral Sands BV). |
| 8 | Relates to a foreign entity (EITAG) which is required to reallocate distributable reserves to a non-distributable reserve. |
| Dividend distribution | |
| Final dividend paid per share (cents) in respect of the 2016 financial year | 400 |
| Dividend paid per share (cents) in respect of the 2017 interim period | 300 |
| Final dividend payable per share (cents) in respect of the 2017 financial year | 400 |
Foreign currency translation
Arises from the translation of the financial statements of foreign operations within the group. Financial instruments revaluation
Comprises the effective portion of the cumulative net change in the fair value of cash flow hedging instruments where the hedged transaction has not yet occurred.
Equity-settled
Represents the fair value, net of tax, of services received from employees and settled by equity instruments granted as well as the fair value of the potential benefit to be obtained by the BEE Parties in relation to the Replacement BEE Transaction.
Retirement benefit obligation
Comprises remeasurements, net of tax, on the post-retirement obligation.
Available-for-sale revaluation
Comprises the fair value adjustments, net of tax, on the available-for-sale financial assets.