| |
|
Group |
| |
|
2013 |
2012 |
| |
|
Rm |
Rm |
| 11. |
Operating leases |
|
|
| |
The Group has entered into various operating lease agreements in respect of premises. Leases on premises are contracted for periods of between 10 and 20 years (2012: 10 and 20 years) with renewal options for a further 10 to 20 years (2012: 10 and 20 years). Rentals comprise minimum monthly payments and additional payments based on turnover levels. Turnover rentals, where applicable, average 1.5% (2012: 1.5%) of turnover. Rental escalations vary but average 6.5% (2012: 6.5%) per annum. |
|
|
| |
Operating lease charges |
1 240.2 |
1 058.9 |
| |
| Property |
– minimum lease payments |
|
1 201.3 |
1 024.9 |
| |
|
38.9 |
34.0 |
| |
Leases contained within service agreements |
205.2 |
170.6 |
| 11.1 |
Operating lease asset |
|
|
| |
At beginning of period |
84.8 |
37.7 |
| |
Accrual for future lease income |
20.7 |
47.1 |
| |
At end of period |
105.5 |
84.8 |
| |
At the end of the period future minimum rentals receivable from non-cancellable sublease contracts amount to: |
|
|
| |
Cash flow due in 2014 |
256.4 |
241.8 |
| |
Cash flow due in 2015 to 2018 |
738.4 |
655.6 |
| |
Cash flow due after 2018 |
1 002.8 |
789.1 |
| |
Total future cash flows |
1 997.6 |
1 686.5 |
| |
Less: Operating lease asset |
(105.5) |
(84.8) |
| |
Total operating lease income receivable |
1 892.1 |
1 601.7 |
| 11.2 |
Operating lease liability |
|
|
| |
At beginning of period |
829.1 |
729.3 |
| |
Accrual for future lease expenditure |
95.5 |
99.8 |
| |
At end of period |
924.6 |
829.1 |
| |
At the end of the period future non-cancellable minimum lease rentals are payable during the following financial years: |
|
|
| |
Cash flow due in 2014 |
1 234.6 |
1 089.6 |
| |
Cash flow due in 2015 to 2018 |
4 424.8 |
3 909.4 |
| |
Cash flow due after 2018 |
6 143.3 |
5 058.3 |
| |
Total future cash flows |
11 802.7 |
10 057.3 |
| |
Less: Operating lease liability |
(924.6) |
(829.1) |
| |
Total operating lease commitments |
10 878.1 |
9 228.2 |
