Honda 2008 Annual Report Download - page 101

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A n n u a l R e p o r t 2 0 0 8 9 9
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, 2008 are as follows:
Years ending March 31:
Yen
(millions)
2009 ¥ 26,144
2010 20,273
2011 16,733
2012 12,989
2013 10,844
After five years 52,349
Total minimum lease payments ¥139,332
Rental expenses under operating leases for each of the years in the three-year period ended March 31, 2008 were ¥46,102
million, ¥46,910 million and ¥49,442 million ($493 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, 2006, 2007 and 2008
are set forth in the following table:
Yen (millions)
Additions Deductions
Balance at
beginning
of period
Charged to
costs and
expenses
Bad debts
written off
Foreign
currency
translation
Balance
at end of
period
March 31, 2006:
Trade accounts and notes receivable
Allowance for doubtful accounts ¥ 9,710 ¥ 3,825 ¥ 3,320 ¥ 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
March 31, 2007:
Trade accounts and notes receivable
Allowance for doubtful accounts ¥10,689 ¥ 2,918 ¥ 5,850 ¥ 442 ¥ 8,199
Finance subsidiaries—receivables
Allowance for credit losses ¥32,950 ¥27,286 ¥27,273 ¥ 549 ¥33,512
Allowance for losses on lease residual values 37,774 16,842 20,807 119 33,928
¥70,724 ¥44,128 ¥48,080 ¥ 668 ¥67,440