NOTES TO THE CONSOLIDATED ANNUAL FINANCIAL STATEMENTS l NOTE 7
Land, buildings
and leasehold
improvements
Rm
Equipment
and furniture
Rm
Motor
vehicles
Rm
Aircraft
Rm
Total
Rm
7.
Property, plant and equipment
At 30 June 2013
Cost
8 819
4 508
451
13 778
Accumulated depreciation and impairment
1 394
2 923
204
4 521
7 425
1 585
247
9 257
Net book value at beginning of year
6 260
1 442
256
122
8 080
Net (disposal) acquisition of subsidiaries and businesses
(31)
39
6
(127)
(113)
Additions
1 054
445
156
7
1 662
Proceeds on disposal
(58)
(27)
(116)
(201)
Depreciation
(130)
(433)
(69)
(2)
(634)
Impairment charge
(14)
(6)
(20)
Profit (loss) on disposal
22
(3)
6
25
Currency adjustments
338
164
6
508
Reclassifications
(16)
(34)
3
(47)
Reclassification to assets classified as held for sale
(2)
(1)
(3)
Net book value at end of year
7 425
1 585
247
9 257
At 30 June 2012
Cost
7 360
3 846
445
160
11 811
Accumulated depreciation and impairment
1 100
2 404
189
38
3 731
6 260
1 442
256
122
8 080
Net book value at beginning of year
5 174
1 002
195
179
6 550
Net acquisition of subsidiaries and businesses
731
297
15
1 043
Additions
520
539
203
50
1 312
Proceeds on disposal
(114)
(47)
(100)
(143)
(404)
Depreciation
(97)
(333)
(66)
(11)
(507)
Impairment charge
(45)
(1)
(46)
Profit on disposal
13
5
18
Currency adjustments
109
18
4
131
Fair value adjustments on discontinued operations
4
15
19
Reclassifications
(35)
(33)
32
(36)
Net book value at end of year
6 260
1 442
256
122
8 080
Depreciation is calculated on a straight-line basis to write off the cost of each component of an asset to its residual value over its estimated useful life as follows:
Buildings
20 years
Equipment and furniture
3 to 10 years
Motor vehicles
3 to 5 years
Aircraft
20 years
A schedule of land and buildings is available for inspection by members or their authorised agents at the registered office of the company.
Certain property, plant and equipment have been encumbered as security for interest-bearing borrowings amounting to R32 million (2012: R72 million), (refer to note 23).
The total value of property, plant and equipment held under capitalised finance leases included above is R35 million (2012: R84 million).