Toyota 2015 Annual Report Download - page 199
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TOYOTA MOTOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
23. Lease commitments:
Toyota leases certain assets under capital lease and operating lease arrangements.
An analysis of leased assets under capital leases is as follows:
Yen in millions
March 31,
2015 2016
Class of property
Building ............................................................... 15,872 18,411
Machinery and equipment ................................................. 30,764 29,087
Less - Accumulated depreciation ............................................ (27,647) (27,738)
18,989 19,760
Amortization expenses under capital leases for the years ended March 31, 2014, 2015 and 2016 were
¥5,151 million, ¥4,348 million and ¥4,801 million, respectively.
Future minimum lease payments under capital leases together with the present value of the net minimum
lease payments as of March 31, 2016 are as follows:
Years ending March 31, Yen in millions
2017 ...................................................................... 5,142
2018 ...................................................................... 3,456
2019 ...................................................................... 3,076
2020 ...................................................................... 2,443
2021 ...................................................................... 1,775
Thereafter .................................................................. 11,650
Total minimum lease payments ............................................. 27,542
Less - Amount representing interest .................................................. (6,040)
Present value of net minimum lease payments .................................. 21,502
Less - Current obligations .......................................................... (4,250)
Long-term capital lease obligations .......................................... 17,252
Rental expenses under operating leases for the years ended March 31, 2014, 2015 and 2016 were
¥94,613 million, ¥98,479 million and ¥101,932 million, respectively.
F-58