Home Depot 2011 Annual Report Download - page 54

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48
The approximate future minimum lease payments under capital and all other leases at January 29, 2012 were as follows
(amounts in millions):
Fiscal Year
2012
2013
2014
2015
2016
Thereafter through 2097
Less imputed interest
Net present value of capital lease obligations
Less current installments
Long-term capital lease obligations, excluding current installments
Capital
Leases
$ 106
104
100
93
90
766
1,259
810
449
29
$ 420
Operating
Leases
$ 800
746
682
637
557
4,577
$ 7,999
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 $328 million and $336 million at January 29, 2012 and January 30,
2011, 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 $171 million, $171 million and $161 million
for fiscal 2011, 2010 and 2009, respectively. At January 29, 2012, the Benefit Plans and the restoration plan held a total of 14
million shares of the Company’s common stock in trust for plan participants.
10. BASIC AND DILUTED WEIGHTED AVERAGE COMMON SHARES
The reconciliation of basic to diluted weighted average common shares for fiscal 2011, 2010 and 2009 was as follows
(amounts in millions):
Weighted average common shares
Effect of potentially dilutive securities:
Stock Plans
Diluted weighted average common shares
Fiscal Year Ended
January 29,
2012
1,562
8
1,570
January 30,
2011
1,648
10
1,658
January 31,
2010
1,683
9
1,692
Stock plans consist of shares granted under the Company’s employee stock plans as described in Note 7 to the Consolidated
Financial Statements. Options to purchase 23 million, 39 million and 48 million shares of common stock at January 29,
2012, January 30, 2011 and January 31, 2010, respectively, were excluded from the computation of Diluted Earnings per
Share because their effect would have been anti-dilutive.