NOTES TO THE CONSOLIDATED ANNUAL FINANCIAL STATEMENTS l NOTE 8
2013
Rm
2012
Rm
8.
Transport fleet
Cost
9 808
8 659
Accumulated depreciation and impairment
5 182
4 323
4 626
4 336
Net book value at beginning of year
4 336
3 627
Net acquisition of subsidiaries and businesses
72
418
Additions
891
1 045
Proceeds on disposal
(300)
(232)
Depreciation
(704)
(601)
Impairment charge
(4)
(3)
Profit on disposal
20
8
Currency adjustments
268
48
Fair value adjustments on disposal group
(5)
Reclassifications
47
31
Net book value at end of year
4 626
4 336
Depreciation is calculated on a straight-line basis to write off the cost of each component of the transport asset to its residual value over
its estimated useful life between 3 to 12 years.
Certain transport fleet assets have been encumbered as security for interest-bearing borrowings amounting to R274 million
(2012: R200 million), (refer to note 23).
The total value of transport fleet assets held under capitalised finance leases included above is R197 million (2012: R147 million).