Notes to the financial statements | Note 35

35. Changes in liabilities arising from financing activities
 
   Group 
2022 Derivative 
liabilities – 
interest rate 
swaps 
Rm 		 Interest 
bearing 
debt 
Rm 		 Lease 
liabilities 
Rm 		 Total 
Rm 
Balance as at 31 March 2021  202  10 866  4 972  16 040 
Cash flow movements  (105) 957  (1 443) (591)
Repayment of derivatives  (105) –  –  (105)
Loans raised  –  1 150  –  1 150 
Loans repaid  –  (193) –  (193)
Finance leases repaid/reclassified to lease liabilities  –  –  (3) (3)
Repayment of lease liability  –  –  (1 440) (1 440)
Non-cash flow movements  (28) 109  1 845  1 926 
Foreign exchange revaluation on loans  –  (9) –  (9)
Insurance premium amortised  –  11  –  11 
Finance charges capitalised to interest-bearing debt  –  107  –  107 
Additions to lease liabilities  –  –  997  997 
Termination of leases  –  –  (58) (58)
Lease modifications  –  –  456  456 
IFRS 16 interest capitalised  –  –  450  450 
Valuation gain/loss  (28) –  –  (28)
Balance as at 31 March 2022  69  11 932  5 374  17 375 
Re-presented 20211 Derivative  
liabilities –  
interest rate  
swaps1
Rm  		 Interest– 
bearing 
debt 
Rm 		 Lease 
liabilities 
Rm 		 Total 
Rm 
Balance as at 31 March 2020 143   12 005  4 775  16 923 
Cash flow movements (98)  (1 132) (1 299) (2 529)
Repayment of derivatives (98)  –  –  (98)
Loans raised –   268  –  268 
Loans repaid –   (1 400) –  (1 400)
Finance leases repaid/reclassified to lease liabilities –   –  (104) (104)
Repayment of lease liability –   –  (1 195) (1 195)
Non-cash flow movements 157   (7) 1 496  1 646 
Foreign exchange revaluation on loans1 –   (17) –  (17)
Insurance premium amortised1 –   10  –  10 
Additions to lease liabilities2  –   –  980  980 
Termination of leases2 –   –  (120) (120)
Lease modifications2 –   –  191  191 
IFRS 16 interest capitalised –   –  445  445 
Valuation gain/loss 157   –  –  157 
Balance as at 31 March 2021 202   10 866  4 972  16 040 
   Company 
 2022  Derivative  liabilities –  interest rate 
swaps 
Rm 		  Interest- 
bearing 
debt 
Rm 		  Lease 
liabilities 
Rm 		  Total 
Rm 
Balance as at 31 March 2021  202  10 866  6 161  17 229 
Cash flow movements  (105) 957  (2 043) (1 191)
Repayment of derivatives  (105) –  –  (105)
Loans raised  –  1 150  –  1 150 
Loans repaid  –  (193) –  (193)
Repayment of lease liability  –  –  (2 043) (2 043)
Non-cash flow movements  (28) 109  1 985  2 066 
Foreign exchange revaluation on loans  –  (9) –  (9)
Insurance premium amortised  –  11  –  11 
Finance charges capitalised to interest-bearing debt  –  107  –  107 
Additions to lease liabilities  –  –  1 000  1 000 
Termination of leases  –  –  (150) (150)
Lease modifications  –  –  618  618 
IFRS 16 interest capitalised  –  –  517  517 
Valuation gain/loss  (28) –  –  (28)
Balance as at 31 March 2022  69  11 932  6 103  18 104 
Re-presented 20211 Derivative  
liabilities –  
interest rate  
swaps1
Rm  		 Interest- 
bearing 
debt 
Rm 		 Lease 
liabilities 
Rm 		 Total 
Rm 
Balance as at 31 March 2020 143   12 005  6 674  18 822 
Cash flow movements (98)  (1 132) (1 724) (2 954)
Repayment of derivatives (98)  –  –  (98)
Loans raised –   268  –  268 
Loans repaid –   (1 400) –  (1 400)
Repayment of lease liability –   –  (1 724) (1 724)
Non-cash flow movements 157   (7) 1 211  1 361 
Foreign exchange revaluation on loans1 –   (17) –  (17)
Insurance premium amortised1 –   10  –  10 
Additions to lease liabilities2 –   –  1 131  1 131 
Termination of leases2 –   –  (187) (187)
Lease modifications2 –   –  (293) (293)
IFRS 16 interest capitalised –   –  560  560 
Valuation gain/loss 157   –  –  157 
Balance as at 31 March 2021 202    10 866  6 161  17 229 
1 In the prior financial year, interest-bearing debt and lease liabilities were disclosed together in the net debt reconciliation. In the current year, the reconciliation has been updated to include interest rate swaps and to separately disclose interest-bearing debt and lease liabilities. When updating the reconciliation based on the new format, it was identified that the foreign exchange revaluation on loans was incorrectly disclosed as a debit and that the amortisation of the insurance premium was accidentally omitted in the prior year. The comparative disclosures have been re-presented for comparability purposes.
2 In the prior financial year, these line items were disclosed together in one line item, "lease liabilities net movement". In the current year, this line has been split into three separate line items in order to provide more information to the user. The comparatives have been re-presented for comparability purposes.

Interest accruals include the effect of interest amortised and accrued for in the closing balance of interest-bearing debt.

The Group classifies interest paid as cash flow from operating activities.