An excerpt from the financial statements of Reitmans (Canada) Limited appears in the table below. Note 18, Commitments in the financial statements provides the following information on the future cash payments under lease agreements: "As at January 28, 2012, financial commitments for minimum lease payments under operating leases for retail stores, offices, automobiles and equipment, as well as amounts pertaining to agreements to purchase goods or services that are enforceable and legally binding on the Company, exclusive of additional amounts based on sales, taxes and other costs are payable as follows:"

Instructions
Explain why Reitmans is required to disclose the future cash payments under its commitments. Support your answer with reference to the objective of financial reporting and the qualitative characteristics.
Taking It Further
Refer to the Notes to Financial Statements for Reitmans (Canada) Limited in Appendix A and provide another example for which the company discloses required future cash payments.

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Office Operating Purchase Obligations $102,637 Operating 1 2 49,810 Subsequent years $470,919 $103,080 $587,377