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Leases | 12 Months Ended
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Dec. 31, 2018
Disclosure of finance lease and operating lease by lessee [abstract] |
Leases | 17. Leases Obligations under finance leases Obligations under finance leases comprise the following at December 31:
|  | 2018 |  | 2017
|  | Non- |  |  |  |  |  | Non- |  |  |  |
|  | Current |  | Current |  | Total |  | Current |  | Current |  | Total
|  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000
Hydroelectrical installations (including power lines and concessions) |  | 52,428 |  | 12,577 |  | 65,005 |  | 68,088 |  | 12,551 |  | 80,639
Other finance leases |  | 1,044 |  | 422 |  | 1,466 |  | 1,625 |  | 369 |  | 1,994
Total |  | 53,472 |  | 12,999 |  | 66,471 |  | 69,713 |  | 12,920 |  | 82,633
On May 25, 2012, FerroAtlàntica, S.A., as financial lessee, entered into a sale and leaseback agreement (the ‘‘Hydro-electric Finance Lease’’) with respect to certain hydro-electric assets in Spain. The financial lessee’s obligations under the Hydroelectric Finance Lease are secured by such hydro-electric assets. Payments in respect of the Hydro-electric Finance Lease are to be made in 120 installments, which commenced on May 25, 2012 and continue until maturity on May 25, 2022. The outstanding amounts under this loan accrue interest at a rate equal to six-month EURIBOR plus 3.5%. The detail, by maturity, of the non-current payment obligations under finance leases as of December 31, 2018 is as follows:
|  | 2020 |  | 2021 |  | 2022 |  | Total
|  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000
Hydroelectrical installations (including power lines and concessions) |  | 13,199 |  | 13,849 |  | 25,380 |  | 52,428
Other finance leases |  | 618 |  | 426 |  | — |  | 1,044
Total |  | 13,817 |  | 14,275 |  | 25,380 |  | 53,472
Future net minimum lease payments under finance leases together with the future finance charges are as follows:
|  | Undiscounted minimum lease payments |  | Present value of minimum lease payments
|  | 2018 |  | 2017 |  | 2018 |  | 2017
|  | US$'000 |  | US$'000 |  | US$'000 |  | US$'000
Within 1 year |  | 13,362 |  | 13,281 |  | 12,999 |  | 12,920
Between 1 and 5 years |  | 61,556 |  | 82,683 |  | 53,472 |  | 69,713
After 5 years |  | — |  | — |  | — |  | —
Total minimum lease payments |  | 74,918 |  | 95,964 |  | 66,471 |  | 82,633
Less: amounts representing finance lease charges |  | 8,447 |  | 13,331 |  | — |  | —
Present value of minimum lease payments |  | 66,471 |  | 82,633 |  | 66,471 |  | 82,633
Operating leases The Company also enters into operating leases, the most significant of which relates to the Company’s office leases. Expenses associated with operating leases are recorded in Other Operating Expenses in the consolidated income statement, and the minimum lease payments on operating leases at December 31, are as follows:
|  | 2018 |  | 2017
|  | US$'000 |  | US$'000
Within one year |  | 9,684 |  | 12,105
Between one and five years |  | 20,847 |  | 27,277
After five years |  | 732 |  | 3,347
Total |  | 31,263 |  | 42,729

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Note Expiry date 2019-01-01 -Name IAS -Number 17 -IssueDate 2018-01-01 -Section Leases in the financial statements of lessees -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=17&date=2018-03-02&anchor=sect_Leasesinthefinancialstatementsoflessees&doctype=Standard&book=b -URIDate 2018-03-16 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Note Expiry date 2019-01-01 -Name IAS -Number 17 -IssueDate 2018-01-01 -Section Leases in the financial statements of lessors -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=17&date=2018-03-02&anchor=sect_Leasesinthefinancialstatementsoflessors&doctype=Standard&book=b -URIDate 2018-03-16 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Note Effective 2019-01-01 -Name IFRS -Number 16 -IssueDate 2018-01-01 -Section Presentation -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=16&date=2018-03-01&anchor=sect_Presentation&doctype=Standard -URIDate 2018-03-16 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Note Effective 2019-01-01 -Name IFRS -Number 16 -IssueDate 2018-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&num=16&date=2018-03-01&anchor=sect_Disclosure&doctype=Standard -URIDate 2018-03-16 + Details
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