Singapore Airlines 2015 Annual Report Download - page 155
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19 Long-Term Liabilities (in $ million) (continued)
Future minimum lease payments under these finance leases are as follows:
The Group
31 March
2015 2014
Minimum
Lease
Payments
Present
Value of
Payments
Minimum
Lease
Payments
Present
Value of
Payments
Not later than one year 57.8 54.1 57.0 52.5
Later than one year but not later than five years 48.3 45.2 96.9 90.7
Total minimum lease payments 106.1 99.3 153.9 143.2
Amounts representing interest (6.8) – (10.7) –
Present value of minimum lease payments 99.3 99.3 143.2 143.2
20 Provisions (in $ million)
Included are provisions for warranty claims, upgrade costs, return costs for leased aircra, lease end liability and onerous leases.
It is expected that the return costs will be incurred by the end of the lease terms.
An analysis of the provisions is as follows:
The Group The Company
31 March 31 March
2015 2014 2015 2014
Balance at 1 April 663.0 493.6 599.8 441.3
Provision during the year 336.2 183.7 271.9 170.7
Acquisition of a subsidiary company 251.0 – – –
Provision utilised during the year (143.1) (8.2) (50.8) (7.8)
Provision written back during the year – (6.1) – (4.4)
Balance at 31 March 1,107.1 663.0 820.9 599.8
Current 170.2 75.7 138.0 44.0
Non-current 936.9 587.3 682.9 555.8
1,107.1 663.0 820.9 599.8
Singapore Airlines | Annual Report FY2014/15 |153