No, the $700 Million is finance leases, that don't show up in the debt graph, because it is an normally accounted for as an expense, when it is technically a debt.
For example.
When you sign up to a 12 month lease to rent a house at $200 per week, the moment you sign the lease you are in debt for $10,200 ($200 x 52 weeks)
Most people wouldn't include their lease as a debt when they list their debts, but it is.
One of FMG's finance leases is on a gas pipeline that delivers gas to their projects.
The company that paid for and build the pipeline leases it to FMG under a finance lease where FMG make regular payments, and at the end of the lease FMG will own the pipeline, but until that last payment is made the current owner maintains ownership, So its a "Rent to Buy" type deal.
Iron ore price, page-1559
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Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
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| FMG (ASX) Chart |