Department of Defence
Notes To And Forming Part Of The Financial Statements
for the year ended 30 June 2003
|
2002-03 |
2001-02 |
|
$'000 |
$'000 |
| Note 8: |
Interest Bearing Liabilities |
| Note 8A: |
Leases |
|
| Finance lease commitments |
| Payable: |
| Within one year |
35,487 |
35,868 |
| In one to five years |
141,690 |
143,286 |
| In more than five years |
425,202 |
475,639 |
| Minimum lease payments |
602,379 |
654,793 |
| Deduct: future finance charges |
(258,641) |
(294,522) |
| Net lease liability |
343,738 |
360,271 |
|
| Lease liability is represented by: |
| Current |
9,774 |
8,914 |
| Non current |
333,964 |
351,357 |
| Net lease liability |
343,738 |
360,271 |
|
| Finance leases exist in relation to property and equipment.
The leases are non-cancellable and for fixed terms. Defence guarantees
the residual value of all assets leased. |
