Notes to the consolidated financial statements

• 1. Revenue
• 2. Operating profit
• 3. Net finance charges
• 4. Taxation
• 5. Earnings per share
• 6. Dividend per share
• 7. Cash generated by operations
• 8. Finance charges
• 9. Taxation paid
• 10. Distribution to shareholders
• 11. Acquisition of business, subsidiaries and associates
• 12. Proceeds on disposal of interest in subsidiaries and associates, and disposal and closure of businesses
• 13. Property, plant and equipment
• 14. Intangible assets
• 15. Goodwill
• 16. Deferred taxation
• 17. Interest in joint ventures
• 18. Interest in associates
• 19. Investments
• 20. Banking and other advances
• 21. Vehicle rental fleet
• 22. Inventories
• 23. Trade and other receivables
• 24. Cash and cash equivalents
• 25. Capital and reserves attributable to shareholders of the Company
• 26. Share-based payments
• 27. Life assurance fund
• 28. Borrowings
• 29. Post-retirement obligations
• 30. Banking liabilities
• 31. Operating leases
• 32. Trade and other payables
• 33.Provisions
• 34. Commitments
• 35. Contingent liabilities
• 36. Financial instruments
• 37. Capital management
• 38. Related parties
• 39. Accounting estimates and judgements
• 40. Determination of fair values
• 41. Accounting standards and interpretations not effective at June 30 2012
• 42. Foreign currency exchange rates
• 43. Restatement of segmental information
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Notes to the consolidated financial statements

for the year ended June 30

		2012   R’000			2011   R’000
3.	Net finance charges
	Finance income	147 034			162 425
	Interest income on banking and other advances	70 402			62 417
	Interest income on bank balances	71 312			96 584
	Interest income on unimpaired available for sale financial investments	5 320			3 424
	Finance charges	(890 029)			(777 650)
	Interest expense on banking liabilities	(60 689)			(53 245)
	Interest expense on bank overdrafts	(203 221)			(165 935)
	Interest expense on listed bonds and commercial paper	(314 897)			(287 245)
	Interest expense on financed assets	(6 407)			(5 951)
	Interest expense on vehicle lease creditors and floorplan creditors	(38 379)			(26 199)
	Interest expense on other borrowings	(211 518)			(199 663)
	Interest imputed on post-retirement obligations	(60 487)			(41 926)
	Less borrowing costs capitalised to property, plant and equipment	5 569			2 514
		(742 995)			(615 225)
	Less net finance income from banking operations included in operating profit	(41 671)			(28 785)
	Income	(100 778)			(92 520)
	Charges	59 107			63 735
		(784 666)			(644 010)

	The applicable weighted average interest rate is used to determine the amount of borrowing costs eligible for capitalisation.