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NOTE 15
COMMITMENTS
(a) Capital commitments
At 30 June 2016, the Group has commitments in the order of $85.5m relating to the investment
program that the Group will be undertaking in the Interstate and Hunter Valley business units 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.
Significant capital expenditure contracted for at the end of the reporting period but not recognised
as liabilities is as follows:
Consolidated
2016
$’000
2015
$’000
Property, plant and equipment payable:
Within one year
83,399
73,373
Later than one year but not later than five years
2,082
86,737
85,481
160,110
(b) Lease commitments: Group as lessee
Non-cancellable operating leases
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.
Consolidated
2016
$’000
2015
$’000
Commitments in relation to leases contracted for at the end of
each reporting period but not recognised as liabilities, payable:
Within one year
9,455
8,987
Later than one year but not later than five years
18,006
19,267
Later than five years
3,037
2,321
30,498
30,575
(c) Lease commitments: Group as the lessor
The Group has entered into various property leases with terms of the lease ranging from one year
to indefinite. The future minimum lease payments receivable under operating leases are as follows:
Consolidated
2015
$000
2014
$000
Within one year
6,058
5,899
Later than one year but not later than five years
8,650
9,223
Later than five years
9,302
8,662
24,010
23,784
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