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Exxaro Resources Limited
Group and company annual financial
statements for the year ended
31 December 2023
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CHAPTER 11:Leases

  • 11.3RIGHT-OF-USE ASSETS
    Group

At 31 December 2023 
Note  Land and 
buildings 
Rm 
Residential 
land and 
buildings 
Rm 
Buildings and 
infrastructure 
Rm 
Machinery, 
plant and 
equipment 
Rm 
   Total 
Rm 
Gross carrying amount                
At beginning of the year     58  513     575 
Additions  11.4 
    
Remeasurement adjustments1  11.4         12 
Lease expiry and terminations       (2)       (2)
Lease modification             
Transfer to property, plant and equipment  10.1.3        (1)    (1)
At end of the year     61    524     587 
Accumulated depreciation                
At beginning of the year    (5) (2) (215) (1)    (223)
Charges for the year  6.1.3  (3)    (54)      (57)
Lease expiry and terminations              
Lease modification        (1)     (1)
At end of the year     (8)   (270) (1)    (279)
Net carrying amount at end of the year     53    254     308 
1 Relates to remeasurements arising from changes in CPI, as well as lease terms.
    Group

At 31 December 2023 
Note  Land and 
buildings 
Rm 
Residential 
land and 
buildings 
Rm 
Buildings and 
infrastructure 
Rm 
Machinery, 
plant and 
equipment 
Rm 
  Total 
Rm 
Gross carrying amount              
At beginning of the year   54  511    570 
Remeasurement adjustments1 11.4        10 
Lease expiry and terminations       (4) (1)   (5)
At end of the year   58  513    575 
Accumulated depreciation              
At beginning of the year   (3) (2) (162) (2)   (169)
Charges for the year 6.1.3 (2)   (56)     (58)
Lease expiry and terminations         
At end of the year   (5) (2) (215) (1)   (223)
Net carrying amount at end of the year   53    298    352 
1 Relates to remeasurements arising from changes in CPI, as well as lease terms.
    Company

At 31 December 2023 

Note 
Buildings and 
infrastructure 
Rm 
  Total 
Rm 
Gross carrying amount   
 
At beginning of the year     497    497 
Remeasurement adjustments1  11.4   
Lease modification     (2)   (2)
At end of the year    502    502
Accumulated depreciation 

 
At beginning of the year 
(201)   (201)
Charges for the year  6.1.3  (52)   (52)
At end of the year    (253)   (253)
Net carrying amount at end of the year    249    249 
1 Relates to remeasurements arising from changes in CPI, as well as lease terms.
    Company
At 31 December 2022 Note Buildings and 
infrastructure 
Rm 
  Total 
Rm 
Gross carrying amount        
At beginning of the year   491    491 
Additions  11.4   
Remeasurement adjustments1  11.4   
At end of the year    497    497 
Accumulated depreciation         
At beginning of the year    (149)   (149)
Charges for the year  6.1.3  (52)   (52)
At end of the year    (201)   (201)
Net carrying amount at end of the year    296    296 
1 Relates to remeasurements arising from changes in CPI, as well as lease terms