Home Depot 2007 Annual Report Download - page 74

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The approximate future minimum lease payments under capital and all other leases at February 3, 2008 were as follows (in millions):
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 $327 million and $340 million at February 3, 2008 and January 28, 2007, respectively.
9. 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 $152 million, $135 million and $122 million for fiscal 2007,
2006 and 2005, respectively. At February 3, 2008, the Benefit Plans and the restoration plan held a total of 22 million shares of the Company's
common stock in trust for plan participants.
57
Fiscal Year
Capital
Leases
Operating
Leases
2008
$
79
$
802
2009
80
716
2010
82
644
2011
82
582
2012
82
523
Thereafter through 2097
882
5,664
1,287
$
8,931
Less imputed interest
872
Net present value of capital lease obligations
415
Less current installments
15
Long-term capital lease obligations, excluding current
installments
$
400