Vodafone 2004 Annual Report Download - page 103
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Annual Report 2004 Vodafone Group Plc
101
26. Commitments
Operating lease commitments
Commitments to non-cancellable operating lease payments are analysed as follows:
2004 2003
Land and Other Land and Other
buildings assets Total buildings assets Total
£m £m £m £m £m £m
In respect of leases expiring:
Within one year 79 97 176 77 36 113
Between two and five years 147 85 232 93 158 251
After five years 136 42 178 150 17 167
Payments due:
Within one year 362 224 586 320 211 531
In more than one year but less than two years 366 398
In more than two years but less than three years 295 321
In more than three years but less than four years 256 250
In more than four years but less than five years 218 217
Thereafter (more than five years) 1,016 989
2,737 2,706
Finance lease commitments
Tangible fixed assets at 31 March 2004 include the following amounts in respect of finance leases:
Network infrastructure
and equipment
£m
Cost 614
Accumulated depreciation (454)
Net book value 160
31 March 2003
Net book value 378
Liabilities under leases for network infrastructure assets, with an original cost of £163 million and net book value at 31 March 2004 of £41 million, have been
unconditionally satisfied by call deposits and other assets, trust deed and set-off arrangements. Accordingly, lease liabilities and the corresponding financial
assets in respect of these network infrastructure assets are not included in the Group’s balance sheet.
Capital and other commitments
2004 2003
£m £m
Tangible and intangible fixed asset expenditure contracted for but not provided 866 1,014
In addition to the commitments above, the Group has a number of further commitments at 31 March 2004. These are disclosed in “Operating and Financial
Review and Prospects – Liquidity and capital resources – Contractual obligations”on page 43.