CHAPTER 9:Associates and joint arrangements

		Group
		Associates		Joint ventures		Total equity-accounted investments
At 31 December	Note	2020 Rm	(Re- presented)¹ 2019 Rm	2020 Rm	2019 Rm	2020 Rm	(Re- presented)¹ 2019 Rm
Gross carrying amount
At beginning of the year		15 986	15 477	1 574	1 569	17 560	17 046
Share of equity-accounted investments' adjustment from the adoption of IFRS 16 Leases			(11)				(11)
Balance at 1 January		15 986	15 466	1 574	1 569	17 560	17 035
Interests acquired²			72				72
Interests disposed of	8.3			(181)		(181)
Interests diluted		(20)	(42)			(20)	(42)
Loss of control of subsidiary			(92)				(92)
Net share of results		6 332	4 521	89	145	6 421	4 666
– Share of income	9.3	6 331	4 520	80	173	6 411	4 693
– Elimination of intergroup profits		1	1	9	(28)	10	(27)
Dividends received		(3 119)	(4 051)	(144)	(95)	(3 263)	(4 146)
Share of movement in reserves		(23)	112	74	(45)	51	67
At end of the year		19 156	15 986	1 412	1 574	20 568	17 560
Accumulated impairment
At beginning of the year		(58)				(58)
Impairment charge	8.5	(504)	(58)			(504)	(58)
At end of the year		(562)	(58)			(562)	(58)
Net carrying amount at end of the year		18 594	15 928	1 412	1 574	20 006	17 502

¹	Refer note 18.3.
²	Relates to an additional equity interest of 4.47% acquired in Curapipe (R14 million) and a 22% equity interest in GAM which was acquired in exchange for the settlement of the Lebonix debt (R58 million).

Exxaro report selector 2020