Table:
|  | Total | Less than 1 year | 1-5 years | More than 5 years |
| --- | --- | --- | --- | --- |
| Accounts payable | 119,712 | 119,712 | — | — |
| Income tax payable | 34,599 | 34,599 | — | — |
| Accrued expenses and other payables | 149,843 | 149,843 | — | — |
| Lease liabilities | 24,261 | 6,977 | 14,726 | 2,558 |
| Pension liabilities | 7,734 | 333 | 2,544 | 4,857 |
| Purchase obligations: |  |  |  |  |
| Purchase commitments to suppliers | 100,694 | 99,546 | 1,148 | — |
| Capital expenditure and other commitments | 43,692 | 40,745 | 2,947 | — |
| Total contractual obligations | 480,535 | 451,755 | 21,365 | 7,415 |
Paragraphs:
Liquidity risk
Our policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business.
Our liquidity needs are affected by many factors, some of which are based on the normal on-going operations of the business, and others that relate to the uncertainties of the global economy and the semiconductor industry. Although our cash requirements fluctuate based on the timing and extent of these factors, we believe that cash generated from operations, together with our principal sources of liquidity are sufficient to satisfy our current requirements, including our expected capital expenditures in 2020.
We intend to return cash to our shareholders on a regular basis in the form of dividend payments and, subject to our actual and anticipated liquidity requirements and other relevant factors, share buybacks.
The following table summarizes the Company’s contractual and other obligations as at December 31, 2019.
Total short-term lines of credit amounted to €150 million at December 31, 2019. The amount outstanding at December 31, 2019 was nil and the undrawn portion totaled €150 million. The standby revolving credit facility of €150 million with a consortium of banks will be available through December 16, 2023.
For the majority of purchase commitments, the Company has flexible delivery schedules depending on the market conditions, which allows the Company, to a certain extent, to delay delivery beyond originally planned delivery schedules.
Question:
What is the component that has the highest obligation for the company in 1-5 years?