Cathay Pacific 2001 Annual Report Download - page 44

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42 Cathay Pacific Airways Limited Annual Report 2001
11. FIXED ASSETS
(CONTINUED)
The future minimum lease payments payable under operating leases committed as at 31st December 2001 for
each of the following periods are as follows:
2001 2000
HK$M HK$M HK$M HK$M
Aircraft and related equipment
-
within 1 year 440 551
-
after 1 year but within 5 years 1,937 2,080
-
after 5 years 206 2,583 473 3,104
Properties and other equipment
-
within 1 year 359 280
-
after 1 year but within 5 years 537 393
-
after 5 years 242 1,138 266 939
3,721 4,043
(d) Advance payments are made to manufacturers for aircraft and related equipment to be delivered in future
years. Advance payments included in owned aircraft and related equipment amount to HK$2 million
(2000: HK$2,295 million) for the Group and HK$2 million (2000: HK$15 million) for the Company. No depreciation
is provided on these advance payments.
(e) Due to an impairment in value a charge of HK$160 million against B747-200 freighters has been recognised in
the year.
(f) Security, including charges over the assets concerned and relevant insurance policies, is provided to the
leasing companies or other parties that provide the underlying finance.
(g) Properties held at 31st December 2001 include land held under medium-term leases in Hong Kong with a net
book value of HK$1,658 million (2000: HK$1,695 million).
12. INTANGIBLE ASSETS
Group Company
Goodwill Computer systems Total Computer systems
HK$M HK$M HK$M HK$M
Cost
At 1st January 2001 312 406 718 381
Additions
-
157 157 156
Disposals
-
(4) (4)
-
At 31st December 2001 312 559 871 537
Accumulated amortisation
At 1st January 2001 139 168 307 152
Charge for the year 14 97 111 92
Disposals
-
(1) (1)
-
At 31st December 2001 153 264 417 244
Net book value
At 31st December 2001 159 295 454 293
At 1st January 2001 173 238 411 229
NOTES TO THE ACCOUNTS
-
BALANCE SHEETS