140
CIMIC Group Limited Annual Report 2016 |
Financial Report
Notes continued
for the 12 months to 31 December 2016
32. COMMITMENTS
December 2016
$m
December 2015
$m
Expenditure commitments in relation to operating leases contracted at the reporting date but not
recognised as liabilities, are payable as follows:
-
within one year
257.5
255.9
-
later than one year but not later than five years
497.9
480.2
-
later than five years
242.6
164.8
Total
998.0
900.9
Representing:
Cancellable operating leases
Plant and equipment
6.1
3.2
Property
22.4
36.6
Other
0.1
0.2
Non-cancellable operating leases
Plant and equipment
-
within one year
121.7
162.6
-
later than one year but not later than five years
151.0
240.6
-
later than five years
-
2.3
Property
1
-
within one year
116.2
77.0
-
later than one year but not later than five years
340.9
222.0
-
later than five years
238.2
156.1
Other
-
within one year
0.9
0.2
-
later than one year but not later than five years
0.5
0.1
-
later than five years
-
-
Total operating lease commitments
998.0
900.9
1
The increase is mainly due to the Group’s new property leases at 177 Pacific Highway, North Sydney and leases assumed as part of the
acquisitions of UGL and Sedgman.
Operating leases
The Group leases plant and equipment used in mining and mineral processing, construction and services activities. Operating leases
generally provide the Group with a right of renewal. Under certain property operating leases, contingent rentals may be payable for
periodic rent reviews. The Group’s leasing arrangements impose no restrictions on any of its financial arrangements.
140
