Financial Report 2008 - Leighton Holdings

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Notes to the Financial Statements continuedfor the year ended 30 June 200830. COMMITMENTS CONTINUEDCapital commitmentsCapital expenditure contracted for at reporting date but not recognised as liabilities is as follows:ConsolidatedCompany2008$’0002007$’0002008$’0002007$’000Property, plant and equipmentPayable:- within one year 1,110,114 389,497- later than one year but not later than five years 123,173 -- later than five years - -1,233,287 389,497 - -InvestmentsPayable:- within one year - 314,100- later than one year but not later than five years 80,000 84,950- later than five years - -80,000 399,050 - -Joint venture commitments- property, plant and equipmentPayable:- within one year 651 34,304- later than one year but not later than five years - -- later than five years - -651 34,304 - -Share of associates’ commitments - investmentsPayable:- within one year - -- later than one year but not later than five years 37,500 -- later than five years - -37,500 - - -Leighton Holdings Limited Financial Report 2008 NOTES TO THE FINANCIAL STATEMENTS 40
Notes to the Financial Statements continuedfor the year ended 30 June 200831. CONTINGENT LIABILITIESBank guarantees, insurance bonds and letters of creditContingent liabilities under indemnities given on behalf of controlled entities in respect of:Consolidated2008$’000Company2008$’0002007$’0002007$’000Bank guarantees 2,241,780 1,580,420 2,241,780 1,580,420Insurance, performance and payment bonds 64,870 81,236 64,870 81,236Letters of credit 304,838 483,174 304,838 483,174Letters of credit include those provided for the Group’s capital commitments totalling $80,000 (2007: $363,624).Other contingencies(i) The Company is called upon to give, in the ordinary course of business, guarantees and indemnities in respect of theperformance by controlled entities, associates and related parties of their contractual and financial obligations. The value ofthese guarantees and indemnities is indeterminable in amount.(ii) There exists in some members of the Group the normal design liability in relation to completed design and constructionprojects.(iii) Certain members of the Group have the normal contractor’s liability in relation to construction contracts. This liability mayinclude litigation by or against the Group and/or joint venture arrangements in which the Group has an interest. It is notpossible to estimate the financial effect of these claims should they be successful. The Directors are of the opinion thatadequate allowance has been made and that disclosure of any further information about the claims would be prejudicial tothe interests of the Group.(iv) Controlled entities have entered into joint venture arrangements under which the controlled entity may be jointly andseverally liable for the liabilities of the joint venture arrangement.(v) Under the terms of the Class Order described in the note on Leighton Holdings Limited and controlled entities, theCompany has entered into approved deeds of indemnity for the cross-guarantee of liabilities with participating Australiansubsidiary companies.Leighton Holdings Limited Financial Report 2008 NOTES TO THE FINANCIAL STATEMENTS 41
Page 4: Statements of Recognised Income and
Page 8 and 9: Notes to the Financial Statements c
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Financial Report 2008 - Leighton Holdings

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