Xerox 2013 Annual Report Download - page 104
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Depreciation expense and operating lease rent expense were as follows:
Year Ended December 31,
2013 2012 2011
Depreciation expense $ 431 $452 $405
Operating lease rent expense(1) 754 646 681
_____________________________
(1) We lease certain land, buildings and equipment, substantially all of which are accounted for as operating leases. Capital leased assets were
approximately $150 and $80 at December 31, 2013 and 2012, respectively.
Future minimum operating lease commitments that have initial or remaining non-cancelable lease terms in excess
of one year at December 31, 2013 were as follows:
2014 2015 2016 2017 2018 Thereafter
$ 579 $ 467 $ 304 $ 122 $ 72 $ 92
Internal Use and Product Software
Year Ended December 31,
Additions to: 2013 2012 2011
Internal use software $ 81 $ 125 $163
Product software 37 107 108
December 31,
Capitalized costs, net: 2013 2012
Internal use software $ 506 $577
Product software 343 344
Useful lives of our internal use and product software generally vary from three to ten years.
Included within product software at December 31, 2013 is approximately $250 of capitalized costs associated with
significant software systems developed for use in certain of our government services businesses. We regularly
review these software systems for impairment. Our impairment review for 2013 and 2012 indicated that the costs
will be recoverable from estimated future operating profits; however, those future operating profits are heavily
dependent on our ability to successfully obtain future contracts.
Note 8 – Investment in Affiliates, at Equity
Investments in corporate joint ventures and other companies in which we generally have a 20% to 50% ownership
interest were as follows:
December 31,
2013 2012
Fuji Xerox $ 1,224 $1,317
All other equity investments 61 64
Investments in Affiliates, at Equity $1,285 $1,381
Our equity in net income of our unconsolidated affiliates was as follows:
Year Ended December 31,
2013 2012 2011
Fuji Xerox $156 $139 $137
Other investments 13 13 12
Total Equity in Net Income of Unconsolidated Affiliates $169 $152 $149
87