Note 28

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All monetary amounts are expressed                
in millions of Rands Notes     2010     2009  
28.   EARNINGS FOR THE YEAR                
    Earnings for the year is arrived at after taking into account:                
    Items by nature                
    Investment income other than interest:                
      Dividends received       3,6     1,3  
      Fair value gain on investments designated as fair value through profit and loss 7     182,3     135,0  
      Rentals received       18,1     25,7  
    Other items:                
      Amortisation of other intangible assets       25,1     34,7  
    Auditors’ remuneration:                
      Fees for audits       36,9     34,2  
      Other services       3,0     4,2  
      Expenses       0,9     0,7  
    Total auditors’ remuneration from continuing operations       40,8     39,1  
    Total auditors’ remuneration from discontinued operations 32     0,7     1,5  
            41,5     40,6  
    Compensation income from insurance claims       18,4     29,4  
    Depreciation:                
      Immovable property       29,0     17,6  
      Plant and machinery       560,0     642,4  
      Other equipment       60,2     51,0  
    Total depreciation from continuing operations       649,2     711,0  
    Total depreciation from discontinued operations 32     31,3     95,0  
            680,5     806,0  
    Employee benefit expense:                
      Salaries and wages from continuing operations       8 508,4     9 298,9  
      Salaries and wages from discontinued operations 32     96,6     395,6  
            8 605,0     9 694,5  
    Share option expense       46,7     26,0  
    Share option expense (Clough Limited)       10,0     11,3  
    Pension costs – defined contribution plans 45     92,5     80,6  
    Other post-employment benefits 45     15,4     11,0  
    Fees paid for:                
      Managerial services       73,6     52,2  
      Technical services       35,8     12,9  
      Administrative services       83,7     28,5  
      Secretarial services       0,5     0,7  
    Impairment loss recognised on plant and equipment       16,1     31,4  
    Impairment loss recognised on inventory       57,7     40,2  
    Impairment charges:                
      Trade receivables       76,8     25,6  
      Contract receivables       3,0     18,6  
      Other receivables       7,2     25,2  
    Reversal of impairment loss recognised on plant and equipment       8,9     6,0  
    Profit on disposal of property, plant and equipment: continuing operations       45,5     24,6  
    Profit on disposal of property, plant and equipment: discontinued operations 32     1,2     3,8  
            46,7     28,4  
    Loss on disposal of property, plant and equipment       40,3     12,2  
    Net fair value profit on financial instruments       11,7     74,8  
    Operating lease costs:                
      Immovable property       165,7     93,0  
      Plant and machinery       235,9     246,5  
      Other equipment       23,1     16,0  
    Operating lease costs: continuing operations       424,7     355,5  
    Operating lease costs: discontinued operations 32     1,6     3,6  
            426,3     359,1  
    Research and development       2,6     0,8  
    Items by function*                
    Cost of sales**       27 923,1     27 585,1  
    Distribution and marketing costs       367,9     383,4  
    Administration costs       2 698,9     2 491,7  
    Other operating income       802,4     542,5  
   
* Excluding discontinued operations.
** Cost of sales includes R5 829,7 million (2009: R4 962,2 million) relating to the cost of inventories sold during the year.

 

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