Home Depot 2005 Annual Report Download - page 67

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The approximate future minimum lease payments under capital and all other leases at January 29, 2006
were as follows (in millions):
Capital Operating
Fiscal Year Leases Leases
2006 $ 72 $ 706
2007 72 669
2008 73 618
2009 73 558
2010 74 535
Thereafter through 2097 884 5,363
1,248 $8,449
Less imputed interest 867
Net present value of capital lease obligations 381
Less current installments 11
Long-term capital lease obligations, excluding current
installments $ 370
Short-term and long-term obligations for capital leases are included in the accompanying Consolidated
Balance Sheets in Current Installments of Long-Term Debt and Long-Term Debt, respectively. The
assets under capital leases recorded in Property and Equipment, net of amortization, totaled
$304 million and $283 million at January 29, 2006 and January 30, 2005, respectively.
7. EMPLOYEE BENEFIT PLANS
The Company maintains active defined contribution retirement plans for its employees (‘‘the Benefit
Plans’’). All associates satisfying certain service requirements are eligible to participate in the Benefit
Plans. The Company makes cash contributions each payroll period up to specified percentages of
associates’ contributions as approved by the Board of Directors.
The Company also maintains a restoration plan to provide certain associates deferred compensation
that they would have received under the Benefit Plans as a matching contribution if not for the
maximum compensation limits under the Internal Revenue Code. The Company funds the restoration
plan through contributions made to a grantor trust, which are then used to purchase shares of the
Company’s common stock in the open market.
The Company’s contributions to the Benefit Plans and the restoration plan were $132 million,
$114 million and $106 million for fiscal 2005, 2004 and 2003, respectively. At January 29, 2006, the
Benefit Plans and the restoration plan held a total of 31 million shares of the Company’s common
stock in trust for plan participants.
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