Pearson

Annual Report and Accounts 2010

Notes to the consolidated financial statements

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33. Commitments

There were no commitments for capital expenditure contracted for at the balance sheet date but not yet incurred.

The Group leases various offices and warehouses under non-cancellable operating lease agreements. The leases have varying terms and renewal rights. The Group also leases various plant and equipment under operating lease agreements, also with varying terms. The lease expenditure charged to the income statement during the year is disclosed in note 4.

The future aggregate minimum lease payments in respect of operating leases are as follows:

All figures in £ millions 2010 2009
Not later than one year 164 153
Later than one year and not later than two years 151 144
Later than two years and not later than three years 130 129
Later than three years and not later than four years 112 114
Later than four years and not later than five years 95 99
Later than five years 785 848
1,437 1,487