Maturity analysis of borrowings 2017 2017 Carrying amount ($'000) Nominal amount ($'000) Maturity dates Less than 1 month ($'000) Maturity dates 1 to 3 months ($'000) Maturity 3 months to 1 year ($'000) Maturity 1 to 5 years ($'000) Maturity dates Greater than 5 years ($'000) Contractual Payables: N/A N/A N/A N/A N/A N/A N/A PPP Finance lease liabilities 69,840 86,892 1,496 4,633 12,064 68,699 0 finance lease liabilities payable 9,235 9,586 1,335 873 2,522 4,855 0 Total 79,075 96,478 2,831 5,507 14,586 73,554 0 2016 2016 Carrying amount ($'000) Nominal amount ($'000) Maturity dates Less than 1 month ($'000) Maturity dates 1 to 3 months ($'000) Maturity dates 3 months to 1 year ($'000) Maturity 1 to 5 years ($'000) Maturity dates Greater than 5 years ($'000) Contractual Payables: N/A N/A N/A N/A N/A N/A N/A Borrowings: N/A N/A N/A N/A N/A N/A N/A PPP Finance lease liabilities 82,144 106,217 1,594 4,926 12,806 70,893 15,999 Other finance lease liabilities payable 8,663 9,034 1,091 581 2,850 4,512 N/A Total 90,807 115,252 2,685 5,507 15,656 75,405 15,999 Interest expense Item 2017 $'000 2016 $'000 Interest on finance leases 7,174 8,201 Total interest expense 7,174 8,201 Interest on finance leases comprises interest relating to the County Court Facility Public Private Partnership (PPP) arrangement of $7.02 million (2016: $8.05 million) and motor vehicles of $0.15 million (2016: $0.15million). Interest expense is recognised in the period in which it is incurred
2016 2017 Specialised land $'000 Specialised buildings $'000 Plant and equipment $'000 Computer & equipment $’000 Opening balance 163,016 304,395 5,670 5,214 Purchases (sales) 49,120 4,330 77 28 Transfers in (out) of level 3 0 669 (2,516) (135) Disposal 0 0 (9) 0 Depreciation 0 (10,893) (500) (819) Accumulated depreciation transferred to reduce the carrying value 0 0 0 0 Revaluation 131,775 51,068 0 0 Transfer in/out of assets under construction 0 15,602 0 0 Closing balance 343,911 365,171 2,722 4,288 Specialised buildings includes heritage buildings Description of significant unobservable inputs to Level 3 valuation Details Valuation technique Significant unobservable inputs used in valuation Range (weighted average) Sensitivity of fair measurement to changes in significant unobservable inputs Specialised land Market approach CSO adjustment 25 per cent Significant increase or decrease in the CSO adjustment result in a significantly lower (higher) fair value. Specialised buildings Structure/shell/building fabric Depreciated replacement cost Useful life 6 ‐ 37 Significant increase or decrease in the estimated useful life of the asset would result in a significantly higher or lower valuation. Specialised buildings Site engineering services Depreciated replacement cost Useful life 6 ‐ 33 years Significant increase or decrease in the estimated useful life of the asset would result in a significantly higher or lower valuation. Specialised buildings Fit out Depreciated replacement cost Useful life 3 ‐ 25 years Significant increase or decrease in the estimated useful life of the asset would result in a significantly higher or lower valuation. Specialised buildings Trunk reticulated building systems Depreciated replacement cost Useful life 3 ‐ 20 years Significant increase or decrease in the estimated useful life of the asset would result in a significantly higher or lower valuation. Heritage buildings Structure/shell/building fabric Depreciated replacement cost Useful life 50 years Significant increase or decrease in the estimated useful life of the asset would result in a significantly higher or lower valuation.