Our performance in 2009 - Sappi

150
Notes to the group annual financial statements continued
US$ million 2009 2008
25. Commitments
Capital commitments
Contracted but not provided 62 76
Approved but not contracted 126 130
Future forecasted cash flows of capital commitments:
188 206
2009 – 154
2010 102 35
2011 (September 2008: thereafter) 48 17
Thereafter 38 –
The capital expenditure is expected to be financed by funds generated by the business,
existing cash resources and borrowing facilities available to the group.
Lease commitments
Future minimum obligations under operating leases:
Payable in the year ended September:
188 206
2009 – 28
2010 31 14
2011 14 9
2012 7 4
2013 4 2
2014 (September 2008: thereafter) 2 35
Thereafter 2 –
60 92
Environmental matters: Further information on capital commitments relating to environmental matters can be found in
note 33.
US$ million 2009 2008
26. Contingent liabilities
Guarantees and suretyships 44 38
Other contingent liabilities 8 7
Included under guarantees and suretyships are bills of exchange where Sappi has guaranteed third-party funding of payments
to Sappi for certain German accounts receivables.
Other contingent liabilities mainly relate to taxation queries to which certain group companies are subject.
The group is involved in various lawsuits and administrative proceedings. The relief sought in such lawsuits and proceedings
includes injunctions, damages and penalties. Although the final results in these suits and proceedings cannot be predicted
with certainty, it is the present opinion of management, after consulting with legal counsel, that they are not expected to
have a material effect on the group’s consolidated financial position, results of operations or cash flows.