Xerox 2013 Annual Report Download - page 103
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Note 6 – Inventories and Equipment on Operating Leases, Net
The following is a summary of Inventories by major category:
December 31,
2013 2012
Finished goods $837 $844
Work-in-process 60 61
Raw materials 101 106
Total Inventories $998 $1,011
The transfer of equipment from our inventories to equipment subject to an operating lease is presented in our
Consolidated Statements of Cash Flows in the operating activities section. Equipment on operating leases and
similar arrangements consists of our equipment rented to customers and depreciated to estimated salvage value at
the end of the lease term.
Equipment on operating leases and the related accumulated depreciation were as follows:
December 31,
2013 2012
Equipment on operating leases $ 1,575 $1,533
Accumulated depreciation (1,016) (998)
Equipment on Operating Leases, Net $559 $535
Depreciable lives generally vary from three to four years consistent with our planned and historical usage of the
equipment subject to operating leases. Our equipment operating lease terms vary, generally from one to three
years. Scheduled minimum future rental revenues on operating leases with original terms of one year or longer are:
2014 2015 2016 2017 2018 Thereafter
$ 331 $ 275 $ 181 $ 95 $ 41 $ 14
Total contingent rentals on operating leases, consisting principally of usage charges in excess of minimum
contracted amounts, for the years ended December 31, 2013, 2012 and 2011 amounted to $151, $158 and $154,
respectively.
Note 7 - Land, Buildings, Equipment and Software, Net
Land, buildings and equipment, net were as follows:
December 31,
Estimated
Useful Lives
(Years) 2013 2012
Land $ 50 $ 61
Buildings and building equipment 25 to 50 1,086 1,135
Leasehold improvements Varies 483 506
Plant machinery 5 to 12 1,493 1,571
Office furniture and equipment 3 to 15 1,826 1,681
Other 4 to 20 83 83
Construction in progress 66 74
Subtotal 5,087 5,111
Accumulated depreciation (3,621)(3,555)
Land, Buildings and Equipment, Net $ 1,466 $1,556
Xerox 2013 Annual Report 86