Telstra 2012 Annual Report Download - page 183
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Telstra Corporation Limited and controlled entities
153
Notes to the Financial Statements (continued)
Description of our operating leases
We have operating leases for the following types of assets:
• rental of land and buildings;
• rental of motor vehicles, caravan huts and trailers, mechanical
aids and heavy excavation equipment; and
• rental of personal computers, laptops, printers and other related
equipment that are used in non communications plant activities.
The weighted average lease term is:
• 6 years for land and buildings;
• 2 years for motor vehicles, 4 to 5 years for light commercial
vehicles, and 7 to 12 years for trucks and mechanical aids and
heavy excavation equipment; and
• 3 years for personal computers and related equipment.
The majority of our operating leases relate to land and buildings.
We have several subleases with total minimum lease payments of
$16 million (2011: $9 million) for the Telstra Group. Our property
operating leases generally contain escalation clauses, which are
fixed increases generally between 3% and 5%, or increases subject
to the consumer price index or market rate. We do not have any
significant purchase options.
* This includes the Telstra Entity capital expenditure commitments
of $572 million (2011: $415 million). Refer to note 30 for further
details.
22. Expenditure commitments
Telstra Group
As at 30 June
2012 2011
$m $m
Capital expenditure commitments
Total capital expenditure commitments contracted for at balance date but not
recorded in the financial statements:
Property, plant and equipment commitments * . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 611 426
Intangible assets commitments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130 146
Operating lease commitments
Future lease payments for non-cancellable operating leases not recorded in the
financial statements:
Within 1 year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 447 415
Within 1 to 5 years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,253 1,162
After 5 years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,120 960
2,820 2,537