CHAPTER 10:Assets

10.3.1 ACCOUNTING POLICIES RELATING TO FINANCIAL ASSETS

The accounting policy for financial assets is disclosed in note 16.1 of financial instruments.

10.3.2 FINANCIAL ASSETS COMPOSITION

		Group		Company
At 31 December	Note	2020 Rm	2019 Rm	2020 Rm	2019 Rm
Non-current
Financial assets at FVOCI		222	235
Equity: unlisted - Chifeng		222	235
Financial assets at FVPL		1 247	2 039	30	29
Debt: unlisted - environmental rehabilitation funds		1 247	2 039	30	29
Financial assets at amortised cost		672	400	1 376	7 124
ESD loans¹		79	124	79	124
Interest-bearing loans to subsidiaries²	17.5			1 297	7 000
Other financial assets at amortised cost		593	276
– Environmental rehabilitation funds		386
– Deferred pricing receivable³		212	279
– Impairment allowances		(5)	(3)


Total non-current financial assets	16.3	2 141	2 674	1 406	7 153
Current
Financial assets at amortised cost		169	272	11 386	4 539
Loans to associates and JVs			133
– Associates: Tumelo⁴			133
ESD loans¹		105	82	105	82
Interest-bearing loans to subsidiaries²	17.5			6 041	60
Non-interest-bearing loans to subsidiaries⁵	17.5			353	359
Treasury facilities with subsidiaries at amortised cost⁶	17.5			4 887	4 038
Other financial assets at amortised cost		64	57
– Deferred pricing receivable³		64	57
– Deferred consideration receivable⁷		1	1
– Employee receivables		4	5	4	5
– Impairment allowances		(5)	(6)	(4)	(5)


Total current financial assets	16.3	169	272	11 386	4 539
Total financial assets		2 310	2 946	12 792	11 692

¹	Interest-free loans advanced to successful applicants in terms of the Exxaro ESD programme.
²	Includes back-to-back loans as well as other interest-bearing loans. Refer note 17.5 for details of the terms and conditions.
³	Relates to a deferred pricing adjustment which arose during 2017. The amount receivable will be settled over seven years (ending 2024) and bears interest at Prime Rate less 2%.
⁴	Loan granted to Tumelo. The loan is interest-free, unsecured and repayable on demand, unless otherwise agreed by the parties. On 31 December 2020 the loan was classified as a non-current asset held-for-sale.
⁵	These loans are interest-free, unsecured and repayable on demand.
⁶	Treasury facilities with subsidiaries have no repayments terms and are repayable on demand. Interest is charged at money market rates.
⁷	Relates to deferred consideration receivable which arose on the disposal of mineral properties.

Exxaro report selector 2020