119 / 166
2017
R’000
2016
R’000
27.
PUTTABLE NON-CONTROLLING INTEREST LIABILITIES
(continued)
DAC
Discount rate
1,99%
1,99%
Expected settlement date
September 30 2017
September 30 2017
Guzmán
Discount rate
2,0%
Expected settlement dates
June 30 2021
Caterfood
Discount rate
5,0%
5,0%
Expected settlement date
September 30 2017
September 30 2017
The effect of discounting the put option for Quartiglia Food Service Spa was determined
as insignificant.
28.
OPERATING LEASES
Leases which have fixed determinable escalations are charged to the income statement
on a straight-line basis and liabilities are raised for the difference between the actual
lease expense and the charge recognised in the statement of profit or loss. The liabilities
are classified based on the timing of the reversal which will occur when the actual cash
flow exceeds the statement of profit or loss amounts.
Operating lease liabilities
21 757
13 991
Less:
Short-term portion included in trade and other payables
(16 762)
(7 661)
Long-term portion
4 995
6 330
Operating lease commitments
Land and buildings
4 981 830
5 382 787
Due in one year
723 533
707 333
Due after one year but within five years
2 314 085
2 254 886
Due after five years
1 944 212
2 420 568
Equipment and vehicles
1 521 026
2 056 573
Due in one year
406 486
486 323
Due after one year but within five years
893 909
1 179 554
Due after five years
220 631
390 696
6 502 856
7 439 360
Less:
Amounts raised as liabilities
(21 757)
(13 991)
6 481 099
7 425 369
29.
TRADE AND OTHER PAYABLES
Trade payables
16 649 605
17 369 810
Forward exchange contracts liability
6 882
11 416
Other payables and accrued expenses
2 471 276
4 124 040
19 127 763
21 505 266
The majority of trade and other payables are fixed in the subsidiaries’ local currency. Since trade and other payables have limited exposure
to exchange rate fluctuations, a currency analysis has not been included.
Refer to note 33 for further disclosure.
115
Annual integrated report 2017
Bid Corporation Limited