COMPANY       GROUP
2015   2014     (R’million) 2015   2014  
        33 Group borrowings        
        33.1 Approved capital expenditure, which will be financed from the group’s own resources, is as follows:        
          Contracted 148,5   244,5  
          Not contracted 970,9   733,5  
            1 119,4   978,0  
33.2 Additional commitments of R580,6 million will be approved in 2016 bringing the total commitments to R1,7 billion for 2016.

The capital commitments noted above include various capital efficiency and expansion projects.
33.3 Commitments in respect of operating leases
 
GROUP
(R’million)
Land and
buildings		 Motor
vehicles		 Property,
plant and
equipment		 Other Total
commitments		  
  2015            
  During 2016 60,5 51,5 4,0 – 116,0  
  During 2017 44,4 35,7 4,4 – 84,5  
  During 2018 21,6 26,5 2,9 – 51,0  
  During 2019 12,5 15,5 1,2 – 29,2  
  During 2020 and thereafter 4,3 10,8 0,7 – 15,8  
    143,3 140,0 13,2 – 296,5  
  2014            
  During 2015 61,7 37,8 31,0 – 130,5  
  During 2016 46,3 28,4 1,8 – 76,5  
  During 2017 18,6 16,3 1,6 – 36,5  
  During 2018 5,8 10,2 1,6 – 17,6  
  During 2019 and thereafter 5,1 7,0 0,8 – 12,9  
    137,5 99,7 36,8 – 274,0  
 

With the exception of the leases described below, operating leases are generally three to six years in duration, without purchase options and in certain instances have escalation clauses of between 7,0% and 10% or are linked to the prime rate of interest or consumer price index (CPI). Other contingent rentals are generally not applicable. One lease, relating to fruit processing equipment, has a remaining contract period of two years, contingent rental linked to tons of fruit processes and escalates based on the American CPI, amounts to R5,6 million (2014: R3,9 million).
33.4 Commitments in respect of finance leases
 

The group has finance leases for various items of plant and machinery. These leases have terms of renewal with a purchase option and are linked to the prime interest rate. Renewals are at the option of the specific entity that holds the lease. Future minimum leases payments under finance leases, together with the present value of the net minimum lease payments, are as follows:

GROUP 2015   2014  
(R’million) Minimum
payments		   Present value
of payments		   Minimum
payments		   Present value
of payments		  
Within one year 2,6   2,1   2,7   2,2  
After one year but not more than five years 3,4   3,1   5,3   4,8  
Total minimum lease payments 6,0   5,2   8,0   7,0  
Less amounts representing finance charges (0,8)   –   (1,0)   –  
Total 5,2   5,2   7,0   7,0  

Please refer to note 31.3 for further details.
33.5 Commitments in respect of inventories
  In terms of its normal business practice, certain group operations have entered into commitments to purchase certain agricultural inputs over their respective seasons.
33.6 Commitments in respect of transport
  The group maintains long-term contracts, including certain minimum payments, with various transport companies for the distribution of its products.