Olympus 2010 Annual Report Download - page 57

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OLYMPUS 2010 55
24. INFORMATION FOR CERTAIN LEASE TRANSACTIONS
FINANCE LEASE TRANSACTIONS( LESSEE):
The Company and its consolidated subsidiaries lease certain machinery and equipment under the non-cancelable finance and
operating 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, 2010 and
2009 were as follows:
Millions of yen
Thousands of
U.S. dollars
(Equivalent amount) 2010 2009 2010
Acquisition cost ........................................................................................................... ¥6,174 ¥ 9,739 $68,600
Accumulated depreciation ........................................................................................... (4,464) (5,671) (49,600)
Accumulated loss on impairment ................................................................................. (27) (35) (300)
Estimated net book value ............................................................................................. ¥1,683 ¥ 4,033 $18,700
Millions of yen
Thousands of
U.S. dollars
(Lease payments and pro forma information) 2010 2009 2010
Lease payments ........................................................................................................... ¥1,967 ¥ 2,881 $21,856
Equivalent of depreciation expense .............................................................................. 1,819 2,707 20,211
Equivalent of interest expense ..................................................................................... 102 191 1,133
Loss on impairment ...................................................................................................... 35 35 389
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 the interest rate method over the lease terms for the difference between acquisition cost
and total lease payments.
Future minimum lease payments under the non-cancelable operating leases having remaining terms in excess of one year as of March
31, 2010 were as follows:
(As of March 31, 2010) Millions of yen Thousands of U.S. dollars
Due in One Year
or Less
Due after One
Year
Total minimum
lease payments
Due in One Year
or Less
Due after One
Year
Total minimum
lease payments
¥23 ¥16 ¥39 $256 $177 $433
(As of March 31, 2009) Millions of yen
Due in One Year
or Less
Due after One
Year
Total minimum
lease payments
¥46 ¥23 ¥69
FINANCE LEASE TRANSACTIONS (LESSOR):
Leased Investment Assets
Millions of yen
Thousands of
U.S. dollars
Current Assets 2010 2009 2010
Lease receivables ......................................................................................................... ¥13,838 ¥ 13,684 $153,755
Estimated residual value .............................................................................................. 1,310 1,282 14,556
Interest income ............................................................................................................ (2,749) (3,086) (30,544)
Leased investment assets ............................................................................................ ¥12,399 ¥ 11,880 $137,767
Millions of yen
Thousands of
U.S. dollars
Investment and Other Assets 2010 2009 2010
Lease receivables ......................................................................................................... ¥16,797 ¥ 16,698 $186,634
Estimated residual value .............................................................................................. 3,243 3,602 36,033
Interest income ............................................................................................................ (3,267) (4,248) (36,300)
Leased investment assets ............................................................................................ ¥16,773 ¥ 16,052 $186,367