Home Depot 2008 Annual Report Download - page 53

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The approximate future minimum lease payments under capital and all other leases at February 1, 2009 were as follows
(in millions):
Fiscal Year Capital
Leases Operating
Leases
2009 $ 88 $ 804
2010 89 724
2011 89 642
2012 89 572
2013 89 522
Thereafter through 2097 922 5,474
1,366 $8,738
Less imputed interest 949
Net present value of capital lease obligations 417
Less current installments 16
Long-term capital lease obligations, excluding current installments $ 401
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 $309 million and $327 million at February 1, 2009 and February 3,
2008, respectively.
10. 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 $158 million, $152 million and
$135 million for fiscal 2008, 2007 and 2006, respectively. At February 1, 2009, the Benefit Plans and the restoration plan
held a total of 20 million shares of the Company’s common stock in trust for plan participants.
11. BASIC AND DILUTED WEIGHTED AVERAGE COMMON SHARES
The reconciliation of basic to diluted weighted average common shares for fiscal 2008, 2007 and 2006 is as follows
(amounts in millions):
February 1,
2009 February 3,
2008 January 28,
2007
Fiscal Year Ended
Weighted average common shares 1,682 1,849 2,054
Effect of potentially dilutive securities:
Stock Plans 478
Diluted weighted average common shares 1,686 1,856 2,062
Stock plans include shares granted under the Company’s employee stock plans as described in Note 8 to the Consolidated
Financial Statements. Options to purchase 52.2 million, 43.4 million and 45.4 million shares of common stock at
February 1, 2009, February 3, 2008 and January 28, 2007, respectively, were excluded from the computation of Diluted
Earnings per Share because their effect would have been anti-dilutive.
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