NOTE 13
COMMITMENTS
(a) Capital commitments
At 30 June 2015, the Group has commitments in the order of $160.1m relating to 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
2015
$’000
2014
$’000
Property, plant and equipment payable:
Within one year
73,373
204,887
Later than one year but not later than five years
86,737
96,351
160,110
301,238
(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. Commitments in relation to leases contracted for at the end of each
reporting period but not recognised as liabilities, payable:
Consolidated
2015
$’000
2014
$’000
Within one year
8,987
6,893
Later than one year but not later than five years
19,267
17,546
Later than five years
2,321
3,756
30,575
28,195
(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
5,899
6,037
Later than one year but not later than five years
9,223
11,202
Later than five years
8,662
9,986
23,784
27,225
99
