Marks and Spencer 2006 Annual Report Download - page 89

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87Marks and Spencer Group plc
28 CONTINGENCIES AND COMMITMENTS
A Capital commitments
2006 2005
£m £m
Commitments in respect of properties in the course of construction 60.5 34.5
B Other material contracts:
In the event of a material change in the trading arrangements with certain warehouse operators, the Group has a commitment to
purchase fixed assets, at values ranging from historical net book value to market value, which are currently owned and operated
by them on the Group’s behalf.
C Commitments under operating leases:
The Group leases various stores, offices, warehouses and equipment under non-cancellable operating lease agreements.
The leases have varying terms, escalation clauses and renewal rights.
2006 2005
£m £m
Total commitments under non-cancellable operating leases expiring:
Not later than one year 10.2 13.3
Later than one year and not later than five years 49.9 62.1
Later than five years and not later than 25 years 1,724.4 1,658.1
Later than 25 years 1,515.4 1,554.7
3,299.9 3,288.2
The total future sublease payments to be received are £58.9m (last year £47.1m).