Vodafone 2002 Annual Report Download - page 117

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Notes to the Consolidated Financial Statements Vodafone Group Plc 115Annual Report & Accounts and Form 20-F
27. Leased assets
Operating leases
Commitments to non-cancellable operating lease payments within one year are as follows:
2002 2001
Land and Other Land and Other
buildings assets buildings assets
£m £m £m £m
In respect of leases expiring:
Within one year 15 60 59 214
Between two and five years 51 80 50 28
After five years 255 45 73 27
321 185 182 269
Future minimum amounts payable under non-cancellable operating leases at 31 March 2002 are as follows:
Years ending 31 March: £m
2003 506
2004 296
2005 256
2006 221
2007 166
Thereafter 545
1,990
Finance leases
Tangible fixed assets at 31 March 2002 include the following amounts in respect of finance leases:
Equipment,
fixtures and Network
fittings infrastructure Total
£m £m £m
Cost 9 838 847
Accumulated depreciation (4) (370) (374)
Net book value 5 468 473
31 March 2001
Net book value –225 225
Liabilities under leases for network infrastructure assets, with an original cost of £230m and net book value at 31 March 2002 of £87m, have been
unconditionally satisfied by call deposits and other assets, trust deed and set-off arrangements. Accordingly, lease liabilities and the corresponding financial
assets in respect of these network infrastructure assets are not included in the Group’s balance sheet.