Boeing 2009 Annual Report Download - page 88
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Scheduled receipts on customer financing are as follows:
Year
Principal
Payments on
Notes Receivable
Sales-
Type/
Finance
Lease
Payments
Receivable
Operating
Lease
Equipment
Payments
Receivable
2010 $284 $ 277 $349
2011 153 321 298
2012 129 316 239
2013 170 273 189
2014 55 273 140
Beyond 2014 220 1,687 343
Customer financing assets leased under capital leases and subleased to others were not significant in
2009 and 2008.
Note 9 – Property, Plant and Equipment
Property, plant and equipment at December 31 consisted of the following:
2009 2008
Land $ 539 $ 540
Buildings and land improvements 9,548 9,133
Machinery and equipment 10,383 9,990
Construction in progress 1,109 1,379
21,579 21,042
Less accumulated depreciation (12,795) (12,280)
$ 8,784 $ 8,762
Depreciation expense was $1,066, $1,013, and $978 for the years ended December 31, 2009, 2008
and 2007, respectively. Interest capitalized during the years ended December 31, 2009, 2008 and
2007 totaled $90, $99, and $117, respectively. At December 31, 2009 and 2008, we had $316 and
$334 of operating lease properties, net of $262 and $242 of accumulated depreciation.
Rental expense for leased properties was $273, $426, and $411, for the years ended December 31,
2009, 2008 and 2007, respectively. For the same periods, these expenses, substantially all minimum
rentals, were net of sublease income of $9, $14, and $26. At December 31, 2009, minimum rental
payments under capital leases aggregated $83, and payments due under capital leases during the
next five years are not material. Minimum rental payments under operating leases with initial or
remaining terms of one year or more aggregated $1,159, net of sublease payments of $11, at
December 31, 2009. Non-cancellable future rentals due from customers for equipment on operating
leases aggregated $136 at December 31, 2009. Payments due under operating leases net of sublease
amounts and non-cancellable future rentals during the next five years are as follows:
2010 2011 2012 2013 2014
Minimum operating lease payments, net of sublease amounts $213 $171 $129 $100 $88
Future rentals due from customers for equipment on operating
leases 17 16 16 15 14
76