CSL Ltd Annual Report 2020

CSL Limited Annual Report 2020 125 Note 13: Commitments and Contingencies 6 (a) Commitments Commitments in relation to capital expenditure contracted but not provided for in the financial statements are payable as follows: Capital Commitments US$m 2020 2019 Not later than one year 505.9 802.0 Later than one year but not later than five years 79.1 148.4 Total 585.0 950.4 The Company has entered into a lease for a building, currently under construction in Melbourne, as our new global headquarters. The lease is expected to commence in early 2023 with an annual lease cost of approximately $15m. (b) Contingent assets and liabilities Litigation The Group is involved in litigation in the ordinary course of business, including litigation for breach of contract and other claims. The Group remains subject to certain patent infringement actions brought by competitors. CSL is highly confident in our intellectual property positions which are the product of many years of innovative research by the Group. The Company is vigorously defending against the claims. Other Contingent assets and liabilities On 24 June 2020 the Group entered into an exclusive licence with Uniqure for Haemophilia-B gene therapy. The transaction is subject to regulatory approvals and will not close until FY2021. The upfront payment is expected to be $450m upon approval followed by regulatory and commercial milestones. 6 Commitments and contingencies are disclosed net of the amount of GST (or equivalent) recoverable from, or payable to, a taxation authority