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Exxaro Resources Limited
Annual Financial Statements 2022
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Currently viewing: 7.7 Tax effect of other comprehensive income | Next: 8.1 Accounting policies relating to business environment and portfolio changes

CHAPTER 7:Taxation

  • 7.7 TAX EFFECT OF OTHER COMPREHENSIVE INCOME
      Group    
   2022 
For the year ended 31 December  Gross 
Rm 		 Tax 
Rm 		 NCI 
Rm 		 Net 
Rm 
Unrealised exchange differences on translation of foreign operations  34      (8) 26 
Changes in fair value of equity investments at FVOCI  28  (18) (2) 8 
Remeasurement of retirement employee obligations  3      (1) 2 
Changes in fair value on cash flow hedges  156  (43) (32) 81 
Recycling of FCTR on deregistration of subsidiaries             
Recycling of FCTR on disposal of foreign associate             
Recycling of financial instruments revaluations reserve on disposal of associate             
Recycling of changes in fair value adjustments on cash flow hedges  97  (27) (19) 51 
Share of OCI of equity-accounted investments relating to:  156  (2) (35) 119 
– Unrealised exchange differences on translation of foreign operations  147      (34) 113 
– Revaluation of financial instruments  7  (2) (1) 4 
– Equity-settled reserve movement  1          1 
– Changes in fair value of equity investments at FVOCI                 
– Remeasurement of retirement employee obligations  1          1 
Total  474  (90) (97) 287 

 

 

      Group    
   2021 
For the year ended 31 December  Gross 
Rm 		 Tax 
Rm 		 NCI 
Rm 		 Net 
Rm 
Unrealised exchange differences on translation of foreign operations  39      (9) 30 
Changes in fair value of equity investments at FVOCI  49      (10) 39 
Remeasurement of retirement employee obligations                 
Changes in fair value on cash flow hedges  117  (33) (21) 63 
Recycling of FCTR on deregistration of subsidiaries  (482) 111  (371)
Recycling of FCTR on disposal of foreign associate  (876) 197  (679)
Recycling of financial instruments revaluations reserve on disposal of associate  (2)     (2)
Recycling of changes in fair value adjustments on cash flow hedges  146  (41) (28) 77 
Share of OCI of equity-accounted investments relating to:  167  3  (40) 130 
– Unrealised exchange differences on translation of foreign operations  179      (41) 138 
– Revaluation of financial instruments                 
– Equity-settled reserve movement                 
– Changes in fair value of equity investments at FVOCI  (14) 3  2  (9)
– Remeasurement of retirement employee obligations  2      (1) 1 
Total  (842) (71) 200  (713)
Exxaro Resources Limited Annual Financial Statements 2022
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CHAPTER 1: THE YEAR IN BRIEF
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The year in brief

CHAPTER 2: REPORTS
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2.1 Responsibility statement on internal financial controls
2.2 Directors' approval
2.3 Certificate by the group company secretary
2.4 Report of the directors
2.5 Audit committee report
2.6 Independent auditor's report

CHAPTER 3: SEGMENTAL REPORTING
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3.1 Accounting policy relating to segmental reporting
3.2 Significant judgements and assumptions made by management in applying the related accounting policy
3.3 Reportable segments
3.4 Geographic location of segment assets

CHAPTER 4: FINANCIAL STATEMENTS
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4.1.1 Group financial statements of comprehensive income
4.1.2 Group financial statements of financial position
4.1.3 Group financial statements of changes in equity
4.1.4 Group financial statements of cash flows
4.2.1 Company financial statement of comprehensive income
4.2.2 Company financial statement of financial position
4.2.3 Company financial statement of changes in equity
4.2.4 Company financial statement of cash flows

CHAPTER 5: EARNINGS
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5.1 Accounting policy relating to earnings
5.2 Attributable earnings per share
5.3 Reconciliation of headline earnings
5.4 Headline earnings per share
5.5 Dividend distributions
5.6 Notes to the statements of cash flows relating to earnings
CHAPTER 6: OPERATIONAL PERFORMANCE AND WORKING CAPITAL
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6.1 Operational performance
6.2 Working capital
6.3 Notes to the statements of cash flows relating to operational performance and working capital

CHAPTER 7: TAXATION
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7.1 Accounting policies relating to taxation
7.2 Significant judgements and assumptions made by management in applying the related accounting policies
7.3 Income tax (expense)/benefit
7.4 Reconciliation of tax rates
7.5 Deferred tax
7.6 Notes to the statements of cash flows relating to taxation
7.7 Tax effect of other comprehensive income

CHAPTER 8: BUSINESS ENVIRONMENT AND PORTFOLIO CHANGES
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8.1 Accounting policies relating to business environment and portfolio changes
8.2 Significant judgements and assumptions made by management in applying the related accounting policies
8.3 Disposals of subsidiaries
8.4 Impairment charges of non-current assets

CHAPTER 9: ASSOCIATES AND JOINT ARRANGEMENTS
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9.1 Accounting policies relating to investments in associates and joint arrangements
9.2 Significant judgements and assumptions made by management in applying the related accounting policies
9.3 Income from investments in associates and joint ventures
9.4 Investments in associates and joint arrangements
9.5 Movement analysis of investments in associates and joint ventures
9.6 Summarised financial information of associates and joint ventures
9.7 Reconciliation of carrying amounts of investments in associates and joint ventures

CHAPTER 10: ASSETS
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10.1 Property, plant and equipment
10.2 Intangible assets
10.3 Financial assets
10.4 Other assets

CHAPTER 11: LEASES
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11.1 Accounting policies relating to leases
11.2 Judgements and assumptions made by management in applying the related accounting policies
11.3 Right-of-use assets
11.4 Lease liabilities

CHAPTER 12: FUNDING
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12.1 Debt
12.2 Equity

CHAPTER 13: PROVISIONS AND CONTINGENCIES
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13.1 Accounting policies relating to provisions and contingencies
13.2 Significant judgements and assumptions made by management in applying the related accounting policies
13.3 Provisions
13.4 Contingent liabilities and contingent assets

CHAPTER 14: PEOPLE
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14.1 Accounting policies relating to employee benefits
14.2 Significant judgements and assumptions made by management in applying the related accounting policies
14.3 Employee benefits
14.4 Retirement employee obligations
14.5 Directors' and prescribed officers' remuneration

CHAPTER 15: RELATED PARTIES
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15.1 Related-party transactions

CHAPTER 16: FINANCIAL INSTRUMENTS
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16.1 Accounting policies relating to financial instruments
16.2 Judgements and assumptions made by management in applying the related accounting policies
16.3 Financial instruments

CHAPTER 17: SUBSIDIARIES
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17.1 Accounting policies relating to subsidiaries
17.2 Significant judgements and assumptions made by management in applying the related accounting policies
17.3 Transactions with subsidiaries
17.4 Summary of investments in subsidiaries
17.5 Summary of indebtedness by/(to) subsidiaries
17.6 Detailed analysis of investments in subsidiaries
17.7 Non-controlling interests

CHAPTER 18: COMPLIANCE
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18.1 Basis of preparation
18.2 Adoption of new, amended and revised standards and interpretations
18.3 Events after the reporting period

CHAPTER 19: ANNEXURES
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Annexure 1 Shareholder analysis
Annexure 2 Definitions
Annexure 3 Administration
Annexure 4 Shareholders' diary

ACRONYMS
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Acronyms