Honda 2007 Annual Report Download - page 112
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110
19. Leases
Honda is the lessee under several operating leases, primarily for office and other facilities, and certain office equipment.
Future minimum lease payments under noncancelable operating leases that have initial or remaining lease terms in excess of
one year at March 31, 2007 are as follows:
Yen
Years ending March 31 (millions)
2008 ¥025,354
2009 19,349
2010 15,354
2011 12,752
2012 10,791
After five years 45,378
Total minimum lease payments ¥128,978
Rental expenses under operating leases for each of the years in the three-year period ended March 31, 2007 were ¥44,619
million, ¥46,102 million and ¥46,910 million ($397 million), respectively.
20. Allowances for Trade Receivable and Finance Subsidiaries-receivables
The allowances for trade receivable and finance subsidiaries-receivables for the years ended March 31, 2005, 2006 and 2007
are set forth in the following table:
Yen (millions)
Additions Deductions
Balance at Charged to Balance at
beginning costs and Bad debts Translation end of
of period expenses written off difference period
March 31, 2005:
Trade accounts and notes receivable
Allowance for doubtful accounts ¥10,919 ¥00,693 ¥02,121 ¥0,219 ¥09,710
Finance subsidiaries-receivables
Allowance for credit losses ¥24,411 ¥33,365 ¥27,575 ¥725 ¥30,926
Allowance for losses on lease residual values 26,124 17,273 10,156 784 34,025
¥50,535 ¥50,638 ¥37,731 ¥1,509 ¥64,951
March 31, 2006:
Trade accounts and notes receivable
Allowance for doubtful accounts ¥09,710 ¥03,825 ¥03,320 ¥0,474 ¥10,689
Finance subsidiaries-receivables
Allowance for credit losses ¥30,926 ¥28,155 ¥29,373 ¥3,242 ¥32,950
Allowance for losses on lease residual values 34,025 7,998 7,974 3,725 37,774
¥64,951 ¥36,153 ¥37,347 ¥6,967 ¥70,724
lawsuits or potential claims that it believes will not result in an
unfavorable outcome or when a reasonable estimate of the
amount of probable loss cannot be determined. After consul-
tation with legal counsel, and taking into account all known
factors pertaining to existing lawsuits and claims, Honda
believes that the ultimate outcome of such lawsuits and
pending claims should not result in liability to Honda that
would be likely to have an adverse material effect on its
consolidated financial position, results of operations or
cash flows.