NOTE 15
COMMITMENTS
(a) Capital commitments
At 30 June 2014, the Group has commitments in the order of $350.6m relating to investment program that the Group
will be undertaking in the North South, Hunter Valley and East West rail corridors 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
2014
$’000
2013
$’000
Property, plant and equipment payable:
Within one year
204,887
299,355
Later than one year but not later than five years
96,351
125,702
301,238
425,057
(b) Lease commitments: Group company as lessee
Non-cancellable operating leases
The Group leases various offices andwarehouses 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. Commitments in
relation to leases contracted for at the end of each reporting period but not recognised as liabilities, payable:
Consolidated
2014
$’000
2013
$’000
Within one year
6,893
6,440
Later than one year but not later than five years
17,546
12,538
Later than five years
3,756
2,598
28,195
21,576
(c) Lease commitments: Group company is 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
2014
$’000
2013
$’000
Within one year
6,037
6,273
Later than one year but not later than five years
11,202
11,345
Later than five years
9,986
10,329
27,225
27,947
87
