NOTES TO THE CONSOLIDATED ANNUAL FINANCIAL STATEMENTS l NOTE 7 |
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2014
Rm |
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|
2013
Rm |
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7. |
Transport fleet |
|
|
|
|
|
|
Cost |
10 990 |
|
|
9 808 |
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|
Accumulated depreciation and impairment |
5 668 |
|
|
5 182 |
|
|
|
5 322 |
|
|
4 626 |
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|
Net carrying value at beginning of year |
4 626 |
|
|
4 336 |
|
|
Net acquisition of subsidiaries and businesses |
|
|
|
72 |
|
|
Additions |
1 550 |
|
|
891 |
|
|
Proceeds on disposal |
(291) |
|
|
(300) |
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|
Depreciation |
(796) |
|
|
(704) |
|
|
Impairment charge |
(1) |
|
|
(4) |
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|
Profit on disposal |
39 |
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|
20 |
|
|
Currency adjustments |
180 |
|
|
268 |
|
|
Reclassifications |
15 |
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|
47 |
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|
Net carrying value at end of year |
5 322 |
|
|
4 626 |
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|
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 R399 million (2013: R274 million), refer to .
The total value of transport fleet assets held under capitalised finance leases included above is R207 million (2013: R197 million). |
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