NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) for the year ended 31 December 2022 • Furthermore, the operational cash flow is sufficient to cover cash flow of a normal operational nature for example, in order to settle outstanding trade creditor balances. The following are the contractual maturities of financial liabilities and insurance contract liabilities, including interest payments and excluding the impact of netting agreements: For long-term obligations with non-DPF components, the amounts in the table represent the estimated cash flows, consistent with the valuation methodology followed by the calculation of the non-DPF component of the insurance liabilities on the published reporting basis. All the cash flows are shown net of reinsurance. Nominal cash flows are shown and the effect of discounting is taken into account to reconcile to total policy liabilities under insurance contracts. Since the DPF component is a retrospective accumulation of past profit declarations, the current value is taken as the value of the underlying assets (shown in the tables below). Group Contractual cash flows 2022 Carrying Total cash Within 1 2 – 5 6 – 10 11 – 20 Over 20 R'm amount flows year years years years years Insurance contract liabilities – DPF 32 294 32 294 2 074 4 865 6 988 12 218 6 149 Insurance contract liabilities – non-DPF 5 321 (30 837) 523 1 371 (133) (6 352) (26 246) Short-term Insurance liabilities 157 157 77 80 – – – Reinsurance payables 90 90 90 – – – – Third-party financial liabilities arising on consolidation of unit trusts 15 086 15 086 15 086 – – – – Investment contract liabilities 4 495 4 495 287 1 146 1 506 1 556 – Borrowings – – – – – – – Other financial liabilities 329 329 329 – – Lease liabilities 46 46 21 25 – – – Group Contractual cash flows 2021 Restated Carrying Total cash Within 1 2 – 5 6 – 10 11 – 20 Over 20 R'm amount flows year years years years years Insurance contract liabilities – DPF 33 270 33 219 2 127 5 006 7 190 12 571 6 325 39. Management of risks (continued) 39.3 Financial risk management (continued) 184 Notes to the Consolidated Financial Statements
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