BT 2000 Annual Report Download - page 89

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26. Financial commitments, contingent liabilities and subsequent events
Group Company
2000
£m
1999
£m
2000
£m
1999
£m
Contracts placed for capital expenditure not provided in the accounts 1,000 1,109 940 1,008
Operating lease payments payable within one year of the balance sheet date were in
respect of leases expiring:
Within one year 9311
Between one and ®ve years 37 29 26 19
After ®ve years 140 116 85 93
Total payable within one year 186 148 112 113
Future minimum operating lease payments for the group at 31 March 2000 were as follows:
2000
£m
Payable in the year ending 31 March:
2001 186
2002 173
2003 166
2004 160
2005 152
Thereafter 997
Total future minimum operating lease payments 1,834
Operating lease commitments were mainly in respect of leases of land and buildings.
At 31 March 2000, there were no contingent liabilities or guarantees other than those arising in the ordinary course of
the group's business and on these no material losses are anticipated. The group has insurance cover to certain limits for
major risks on property and major claims in connection with legal liabilities arising in the course of its operations.
Otherwise, the group generally carries its own risks.
The company has guaranteed certain borrowings of subsidiary undertakings amounting to »926 million
(1999 ^ »979 million).
Satellite consortia, in which the company has participating interests, are organisations without limited liability. At
31 March 2000, the company's share of the aggregate borrowings of these consortia amounted to »130 million
(1999 ^ »144 million).
The company does not believe there are any pending legal proceedings which would have a material adverse e¡ect on
the ¢nancial position or results of operations of the group.
On 27 April 2000, BT acquired a third generation mobile licence for the UK in HM Government's auction, for
»4.03 billion. BT paid the fee in full on 16 May 2000 by drawing on its commercial paper programmes.
Notes to the financial statements
88 Annual report and Form 20-F