Note 35
Commitments
(a) Capital commitments
At 30 June 2012, the Group has commitments
in the order of $0.6b relating to the
substantial investment program that the
Group will be undertaking in the North‑South
and Hunter Valley interstate corridor in the
coming years.
The scope of the work is over a range of projects
along the corridor, with the focus on repairing,
renovating and rebuilding the rail infrastructure
assets to address rail’s performance on the corridor.
Capital expenditure contracted for at the
reporting date but not recognised as liabilities is
as follows:
Consolidated
2012
2011
$’000
$’000
Property, plant and equipment
Payable:
Within one year
555,149
973,237
Later than one year but not later than five years
75,149
262,378
Later than five years
-
-
630,298
1,235,615
(b) Lease commitments : Group
company as lessee
The Group leases various offices and
warehouses under operating leases expiring
within one to eight years. The leases have
varying terms, escalation clauses and renewal
rights. On renewal, the terms of the leases
are renegotiated.
The Group also leases motor vehicles under
operating leases.
Commitments include $0.2b (2011: $0.8b) of capital improvement projects for which an equity
contribution was received. These projects are not contractually committed to be completed.
Consolidated
2012
2011
$’000
$’000
Commitments in relation to leases contracted for at the end of each
reporting period but not recognised as liabilities, payable:
Within one year
5,283
4,859
Later than one year but not later than five years
7,747
8,339
Later than five years
1,553
2,244
14,583
15,442
106
