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Accounting policy Leases are classified as finance leases when the terms of the lease transfer substantially all the risks and rewards of ownership to the Group. All other leases are classified as operating leases. Payments under operating leases are expensed in the income statement on a straight-line basis over the term of the lease. Lease incentives received are recognised as an integral part of the total lease expense, over the term of the lease. |
Future minimum lease payments under non-cancellable operating leases fall due as follows:
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2017 |
|
2016 |
|
|
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$ million |
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$ million |
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|
Land and buildings: |
|
|
|
|
|
|
Within one year |
|
40 |
|
33 |
|
|
After one and within two years |
|
35 |
|
27 |
|
|
After two and within three years |
|
27 |
|
23 |
|
|
After three and within four years |
|
23 |
|
16 |
|
|
After four and within five years |
|
19 |
|
13 |
|
|
After five years |
|
56 |
|
41 |
|
|
|
|
200 |
|
153 |
|
|
Other assets: |
|
|
|
|
|
|
Within one year |
|
17 |
|
15 |
|
|
After one and within two years |
|
11 |
|
11 |
|
|
After two and within three years |
|
5 |
|
6 |
|
|
After three and within four years |
|
1 |
|
2 |
|
|
|
|
34 |
|
34 |
|