2015 $’000 |
2014 $’000 |
|
---|---|---|
By Type |
||
Commitments receivable | ||
Sublease rental income | (182) | (347) |
Net GST recoverable on commitments | (1,675) | (555) |
Total commitments receivable | (1,857) | (902) |
Commitments payable | ||
Operating leases | 15,025 | 6,392 |
Other commitments | 3,582 | 64 |
Total commitments payable | 18,607 | 6,456 |
Net Commitments by Type | 16,750 | 5,554 |
By Maturity | ||
Commitments receivable | ||
Sublease rental income | ||
One year or less | (182) | (244) |
From one to five years | – | (103) |
Over five years | – | – |
Total sublease rental income | (182) | (347) |
Net GST recoverable on commitments | ||
One year or less | (527) | (316) |
From one to five years | (526) | (231) |
Over five years | (622) | (8) |
Total net GST recoverable on commitments | (1,675) | (555) |
Commitments payable | ||
Operating leases | ||
One year or less | 2,396 | 3,661 |
From one to five years | 5,791 | 2,648 |
Over five years | 6,838 | 83 |
Total operating leases | 15,025 | 6,392 |
Other commitments | ||
One year or less | 3,582 | 64 |
From one to five years | – | – |
Over five years | – | – |
Total other commitments | 3,582 | 64 |
Net Commitments by Maturity | 16,750 | 5,554 |
Note: Commitments are GST inclusive where relevant.
Major categories of commitments as at the reporting date are described below:
Leases for Office Accommodation
Lease payments are subject to increases in accordance with fixed amounts in the lease agreement or market rental reviews. The FWBII may exercise option clauses in accordance with the terms of the lease.
Motor Vehicles
A fleet of motor vehicles is leased which includes vehicles used by staff in performing their day to day activities. Motor vehicle leases are part of an operating lease and there are no purchase options available to the FWBII.
The above schedule should be read in conjunction with the accompanying notes.