(a) Capital commitments
At the year end, the following capital commitments authorised by the Board had not been provided for in the consolidated financial statements:
2022 | 2021 | |
€m | €m | |
Contracted | 2.8 | 5.7 |
Not contracted | 14.2 | 5.0 |
17.0 | 10.7 |
The contracted capital commitments at 28 February 2022 are with respect of contracts that support the Group in achieving its environmental targets and optimising its operational footprint.
(b) Other commitments
At the year end, the value of contracts placed for future expenditure was:
2022 | |||||||
Apples** | Glass | Marketing | Barley*** | Sugar/ glucose | Aluminium | Total* | |
€m | €m | €m | €m | €m | €m | €m | |
Payable in less than one year | 4.4 | 2.2 | 3.1 | 8.4 | - | 2.8 | 20.9 |
Payable between 1 and 5 years | 8.9 | - | 5.9 | 0.6 | - | - | 15.4 |
Payable greater than 5 years | 6.0 | - | - | - | - | - | 6.0 |
19.3 | 2.2 | 9.0 | 9.0 | - | 2.8 | 42.3 | |
* Commitment obligations range from between 1 year to 24 years.
** In the current financial year, the Group exited some commitments regarding Apples and the value of some of the continuing Apple commitments were also revised downwards in line with the latest estimate of their cost of completion.
*** In the current financial year, the commitments with respect to Barley were revised downwards due to the change in the open market price and consequently the option for the Group to resell its commitment to the market.
2021 | |||||||
Apples | Glass | Marketing | Barley | Sugar/ glucose | Aluminium | Total* | |
€m | €m | €m | €m | €m | €m | €m | |
Payable in less than one year | 6.3 | 1.7 | 3.0 | 7.1 | 6.3 | - | 24.4 |
Payable between 1 and 5 years | 12.1 | - | 7.5 | 14.3 | - | - | 33.9 |
Payable greater than 5 years | 17.9 | - | - | - | - | - | 17.9 |
36.3 | 1.7 | 10.5 | 21.4 | 6.3 | - | 76.2 | |
* Commitment obligations range from between 1 year to 24 years.
Where the Group has hedged an Input cost, but a market exists for the Group to resell that input cost in the open market, then the Group does not classify that as a commitment.