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Exxaro Resources Limited
Group and company annual financial statements for the year ended 31 December 2020
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Currently viewing: | 17.7 Non-controlling interests | Next: 18.1 Basis of preparation

CHAPTER 17:Subsidiaries

17.7

NON-CONTROLLING INTERESTS
 
17.7.1 COMPOSITION AND ANALYSIS OF NON-CONTROLLING INTERESTS
Voting power of
non-controlling interests
Subsidiaries with non-controlling interests Nature of
business		 Principal place
of business		 2020
%		 2019
%
Subsidiaries with equity shareholders:
Eyesizwe BEE structured entity Gauteng 75.14 75.14
Dorstfontein Mining Mpumalanga 26.00 26.00
Tsitsikamma SPV1 Renewable energy Eastern Cape 16.00
Subsidiaries with share option holders:
Tsitsikamma SPV Renewable energy Eastern Cape 9.00
Amakhala SPV Renewable energy Eastern Cape 10.00
1 An in-substance share option held by an NCI of Tsitsikamma SPV was exercised in December 2020.
Profit/(loss) allocated to NCI  OCI allocatedto NCI   Dividends paidto NCI    AccumulatedNCI 
2020 
Rm 		 2019 
Rm 		   2020 
Rm 		 2019 
Rm 		   2020 
Rm 		 2019 
Rm 		   2020 
Rm 		 2019 
Rm 
Subsidiaries with equity shareholders:  9 197  8 111 
Eyesizwe  2 118  289    (71) (9)   (978) 9 828  8 758 
Dorstfontein  (175) (29)   (823) (647)
Tsitsikamma SPV  192 
Subsidiaries with share option holders:  143 
Tsitsikamma SPV  102 
Amakhala SPV  41 
Total NCIs  1 943  260    (71) (9)   (978) 9 340  8 111 
NCI equity shareholders NCI share option holders   Total NCI
Movement analysis of NCI:  Note  2020 
Rm 		 2019 
Rm 		     2020 
Rm 		 2019 
Rm 		     2020 
Rm 		 2019 
Rm 
At beginning of the year  8 111  (701)   8 111  (701)
Total comprehensive income  1 872  251    1 872  251 
Share of profit for the year  1 943  260    1 943  260 
Share of OCI for the year  (71) (9)   (71) (9)
Transactions with owners of subsidiary companies  (978)   (1) (979)
Dividends paid  (978) (978)
Distributions to NCI share option holders    (1) (1)
Changes in ownership interest  192  8 561      144  336  8 561 
Acquisition of subsidiaries  8.3.2    147  147 
Initial recognition of NCI1  192  8 479      (3) 189  8 479 
– Share option settlement price    115 
– Derecognise share option    (118)
Loss on loss of control of subsidiary2  82    82 
At end of the year  9 197  8 111      143  9 340  8 111 
1 2020: NCIs share of Tsitsikamma SPV's net asset value upon the exercise of the share option. 2019: NCI's share of Eyesziwe's net asset value upon the exercise of the option held by the BEE Parties.
2 Derecognition of NCI reserve upon the loss of control of Tumelo.
17.7.2 SUMMARISED FINANCIAL INFORMATION OF NON-CONTROLLING INTERESTS

The summarised financial information set out below relates to the subsidiaries in which the NCI share.

Tsitsikamma SPV   Eyesizwe Dorstfontein
At 31 December  2020 
Rm 		   2020 
Rm 		 2019 
Rm 		   2020 
Rm 		 2019 
Rm 
Statements of financial position 
Non-current assets  3 706    13 078  11 652    1 272  2 418 
Current assets  194    3  5    162  131 
Total assets  3 900    13 081  11 657    1 434  2 549 
Non-current liabilities  2 641    4 451  4 866 
Current liabilities  57    1  1    148  172 
Total liabilities  2 698    1  1    4 599  5 038 
Net assets/(liabilities) 1 202    13 080  11 656    (3 165) (2 489)
Accumulated NCIs  192    9 828  8 758    (823) (647)
Eyesizwe1 Dorstfontein 
For the year ended 31 December  2020 
Rm 		 2019 
Rm 		   2020 
Rm 		 2019 
Rm 
Statements of comprehensive income 
Revenue  1 190  1 324 
Net operating loss  (2) (755) (75)
Income from equity-accounted investments  2 821  384   
Net finance costs  (113) (36)
Income tax benefit  194  1 
Profit/(loss) for the year  2 819  384    (674) (110)
Other comprehensive loss  (96) (11)  
Total comprehensive income/(loss) for the year  2 723  373    (674) (110)
Profit/(loss) attributable to:  2 819  384    (674) (110)
Owners of the parent  701  95    (499) (81)
Non-controlling interests  2 118  289    (175) (29)
Other comprehensive loss attributable to:  (96) (11)  
Owners of the parent  (25) (2)  
Non-controlling interests  (71) (9)  
Total comprehensive income attributable to:  2 723  373    (674) (110)
Owners of the parent  676  93    (499) (81)
Non-controlling interests  2 047  280    (175) (29)
Statements of cash flows 
Cash flows from operating activities  (1 303) (305) (212)
Cash flows from investing activities  1 301  (282) (549)
Cash flows from financing activities  566  776 
Net (decrease)/increase in cash and cash equivalents  (2) (21) 15 
Dividends paid to non-controlling interests:  (978)
1 The number of months in the year for which Eyesizwe summarised information is presented: 
12  2   

Exxaro Resources Limited Group and company annual financial statements for the year ended 31 December 2020