Olympus 2002 Annual Report Download - page 39

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37
14. INFORMATION FOR CERTAIN LEASE TRANSACTIONS
Lessee:
The Company and its consolidated subsidiaries lease certain machinery and equipment under non-cancellable finance and operat-
ing leases. Finance leases that do not transfer ownership to lessees are not capitalized and are accounted for in the same manner as
operating leases. Certain information for such non-capitalized finance leases for the years ended March 31, 2002 and 2001 was as
follows:
Thousands of
Millions of yen U.S. dollars
2002 2001 2002
(Equivalent amount)
Acquisition cost.................................................................................................................... ¥ 9,505 ¥10,464 $ 76,040
Accumulated depreciation ................................................................................................... (4,937) (5,589) (39,496)
Estimated net book value..................................................................................................... ¥ 4,568 ¥ 4,875 $ 36,544
Thousands of
Millions of yen U.S. dollars
2002 2001 2002
Lease payments..................................................................................................................... ¥2,413 ¥2,548 $19,304
Equivalent of depreciation expense ..................................................................................... ¥2,188 ¥2,307 $17,504
Equivalent of interest expense.............................................................................................. ¥ 201 ¥ 219 $ 1,608
Equivalent of depreciation expense is computed using the straight-line method over the lease terms assuming no residual value.
Equivalent of interest expense is computed using interest rate method over the lease terms for the difference between acquisition
cost and total lease payments.
Future minimum lease payments under the non-cancellable finance and operating leases having remaining terms in excess of
one year as of March 31, 2002 are as follows:
Thousands of
Millions of yen U.S. dollars
2003 .......................................................................................................................................... ¥2,093 $16,744
2004 and thereafter.................................................................................................................... 3,256 26,048
Total minimum lease payments ................................................................................................. ¥5,349 $42,792
Lessor:
Certain machinery and equipment of the Company and its consolidated subsidiaries are leased under finance leases. For the years
ended March 31, 2002 and 2001, the amounts of leased machinery and equipment were summarized as follows:
Thousands of
Millions of yen U.S. dollars
2002 2001 2002
Acquisition cost.................................................................................................................... ¥ 7,408 ¥ 6,636 $ 59,264
Accumulated depreciation ................................................................................................... (3,705) (2,959) (29,640)
Net book value ..................................................................................................................... ¥ 3,703 ¥ 3,677 $ 29,624
Thousands of
Millions of yen U.S. dollars
2002 2001 2002
Lease income ........................................................................................................................ ¥1,663 ¥1,546 $13,304
Depreciation expense ........................................................................................................... ¥1,440 ¥1,282 $11,520
Estimated interest income.................................................................................................... ¥ 217 ¥ 252 $ 1,736