Integrated report 2019
Exxaro Resources Limited
Group and company annual financial statements
for the year ended 31 December 2019
| Group | Company | |||||||
| At 31 December | 2019 Rm |
2018 Rm |
2019 Rm |
2018 Rm |
||||
|---|---|---|---|---|---|---|---|---|
| Non-current | 461 | 448 | ||||||
| Current | 27 | 2 | 17 | |||||
| Total lease liabilities | 488 | 2 | 465 | |||||
| Summary of lease liabilities by period of redemption: | ||||||||
| – Less than six months | 15 | 2 | 8 | |||||
| – Six to 12 months | 12 | 9 | ||||||
| – Between one and two years | 28 | 23 | ||||||
| – Between two and three years | 34 | 30 | ||||||
| – Between three and four years | 34 | 32 | ||||||
| – Between four and five years | 43 | 42 | ||||||
| – Over five years | 322 | 321 | ||||||
| Total lease liabilities | 488 | 2 | 465 | |||||
| Analysis of movement in lease liabilities | ||||||||
| At beginning of the year – IAS 17 | 2 | |||||||
| Recognised on initial application of IFRS 16 | 66 | 19 | ||||||
| Balance at 1 January 2019 | 68 | 19 | ||||||
| New leases | 458 | 456 | ||||||
| Lease terminations | (12) | |||||||
| Lease remeasurement adjustments | 7 | 5 | ||||||
| Capital repayments | (33) | (15) | ||||||
| – Lease payments | (69) | (48) | ||||||
| – Interest charges | 36 | 33 | ||||||
| At end of the year | 488 | 465 | ||||||
The lease liabilities relate to the right-of-use assets disclosed under note 11.4. Interest is based on incremental borrowing rates ranging between 7.85% and 10.44%.
