LG 2001 Annual Report Download - page 72
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ยป72
LG Electronics Inc. The
43
rd Annual Report
Notes to Financial Statements
for the years ended December 31, 2001 and 2000
12. Leases
The Company has entered into various lease agreements for the rental of certain machinery and
equipment. The Company accounts for these leases as operating leases under which lease payment are
charged to expense as incurred.
As of December 31, 2001, future lease payments under operating lease agreements are as follows :
For the year ending December 31, Millions of Won
2002 10,336
2003 3,344
2004 824
14,504
The Company acquired certain machinery and equipment under capital lease agreements. At December
31, 2001, the acquisition cost of machinery and equipment under capital leases was 385 million and
related depreciation expense recognized in 2001 was 77 million.
As of December 31, 2001, future minimum lease payments under capital lease obligations are as
follows :
Year ending December 31, Millions of Won
2002 172
2003 116
288