Vodafone 2007 Annual Report Download - page 135
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Vodafone Group Plc Annual Report 2007 133
Financials
30. Commitments
Operating lease commitments
The Group has entered into commercial leases on certain properties, network infrastructure, motor vehicles and items of machinery. The leases have various
terms, escalation clauses, purchase options and renewal rights.
Future minimum lease payments under non-cancellable operating leases comprise:
2007 2006
£m £m
Within one year 718 654
In more than one year but less than two years 577 509
In more than two years but less than three years 432 447
In more than three years but less than four years 367 397
In more than four years but less than five years 321 345
In more than five years 1,360 1,292
3,775 3,644
In addition to the amounts disclosed above as at 31 March 2006, there were additional operating lease commitments of £120 million relating to the Group’s
discontinued operations in Japan, which were sold on 27 April 2006.
The total of future minimum sublease payments expected to be received under non-cancellable subleases is £107 million (2006: £60 million).
Capital and other financial commitments
Group Share of joint ventures
2007 2006 2007 2006
£m £m £m £m
Contracts placed for future capital expenditure not provided in the financial statements(1)(2) 1,060 651 89 162
Purchase commitments(2) 1,137 996 144 163
Purchase of Telsim –2,600 ––
2,197 4,247 233 325
Notes:
(1) Commitment includes contracts placed for property, plant and equipment and intangible assets.
(2) In addition to the amounts disclosed above as at 31 March 2006, there were additional commitments of £90 million for future capital expenditure and £368 million other purchase commitments
relating to the Group’s discontinued operations in Japan, which were sold on 27 April 2006.
During the year ended 31 March 2007, the Group entered into various agreements in relation to its acquisition of Hutchison Essar from Hutchison
Telecommunications International Ltd. See note 35 for further details.