D-Link 2004 Annual Report Download - page 62

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34
D-LINK CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements
(Continued)
19. Pledged Assets
Assets pledged as collateral as of December 31, 2003 and 2004, are summarized as follows:
December 31,
Pledged assets Pledged to secure 2003 2004
Time deposits
(recorded in other financial
assets–noncurrent)
Customs guarantees of the Science
Park
$ 7,300 -
Time deposits
(recorded in restricted assets)
Guarantees of credit lines
564,756 1,595,013
Time deposits
(recorded in other financial
assets–noncurrent)
Guarantees of import tax
- 4,000
Time deposits
(recorded in restricted assets)
The first issuance of domestic
guaranteed convertible bonds 330,000 -
$ 902,056 1,599,013
20. Commitments and Contingencies
(1) Major operating leases
D-Link and Alpha purchased a plant located in the Hsinchu Science Park and entered into a land
lease agreement with the Science Park Bureau. The leasing expenses for the land leased are as
below:
Lease Lessor Description
Rental expense
in 2004
Payment
method
Land Hsinchu Science Park Sept. 1989-Sept. 2009 $4,255 thousand Monthly
Land Hsinchu Science Park Aug. 2001-Dec. 2020 $6,009 thousand Monthly
Land Hsinchu Science Park Nov. 2003-Dec. 2022 $6,840 thousand Monthly