Holiday Inn 2005 Annual Report Download - page 73

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29 OPERATING LEASES
During the year ended 31 December 2005, £62m (2004 £67m) was recognised as an expense in the income statement in respect of
operating leases.
Total commitments under non-cancellable operating leases are as follows:
2005 2004
£m £m
Due within one year 36 55
One to two years 31 51
Two to three years 25 47
Three to four years 19 38
Four to five years 14 31
More than five years 149 884
274 1,106
The average remaining term of these leases, which generally contain renewal options, is approximately 12 years. No material restrictions
or guarantees exist in the Group’s lease obligations.
2005 2004
30 CAPITAL COMMITMENTS £m £m
Contracts placed for expenditure on property, plant and equipment not provided for in the financial statements 76 53
2005 2004
31 CONTINGENCIES £m £m
Contingent liabilities not provided for in the financial statements relate to guarantees 20 9
In limited cases, the Group may provide performance guarantees to third-party owners to secure management contracts. The maximum
exposure under such guarantees is £134m. It is the view of the Directors that, other than to the extent that liabilities have been provided for
in these financial statements, such guarantees are not expected to result in financial loss to the Group.
The Group has given warranties in respect of the disposal of certain of its former subsidiaries. It is the view of the Directors that, other than
to the extent that liabilities have been provided for in these financial statements, such warranties are not expected to result in financial loss
to the Group.
32 RELATED PARTY DISCLOSURES
Key management personnel comprises the Board and Executive Committee.
2005 2004
Total compensation of key management personnel £m £m
Short-term employment benefits 6.5 5.5
Post-employment benefits 0.2 0.2
Termination benefits 0.8 0.8
Equity compensation benefits 6.9 4.1
14.4 10.6
There were no transactions with key management personnel during either the year ended 31 December 2005 or the previous year.
InterContinental Hotels Group 2005 71