NOTE 34
COMMITMENTS
(a) Capital commitments
At 30 June 2013, the Group has commitments in the order of $0.4b 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
2013
$’000
2012
$’000
Property, plant and equipment, payable:
Within one year
299,355
555,149
Later than one year but not later than five years
125,702
75,149
Property, plant and equipment
425,057
630,298
Commitments include $0.03b (2012: $0.2b) of capital improvement projects for which an equity contribution was
received. These projects are not contractually committed to be completed.
(b) Lease commitments: Group company as lessee
(i) 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.
The Group also leases motor vehicles under operating leases.
Consolidated
2013
$’000
2012
$’000
Commitments in relation to leases contracted for at the end of each
reporting period but not recognised as liabilities, payable:
Within one year
6,440
5,283
Later than one year but not later than five years
12,538
7,747
Later than five years
2,598
1,553
21,576
14,583
100
