Xerox 2015 Annual Report Download - page 109
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Note 7 – Inventories and Equipment on Operating Leases, Net
The following is a summary of Inventories by major category:
December 31,
2015 2014
Finished goods $792 $778
Work-in-process 51 58
Raw materials 99 98
Total Inventories $942 $934
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,
2015 2014
Equipment on operating leases $ 1,478 $1,531
Accumulated depreciation (983)(1,006)
Equipment on Operating Leases, Net $495 $525
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:
2016 2017 2018 2019 2020 Thereafter
$ 331 $ 228 $ 144 $ 78 $ 30 $ 3
Total contingent rentals on operating leases, consisting principally of usage charges in excess of minimum
contracted amounts, for the years ended December 31, 2015, 2014 and 2013 amounted to $139, $149 and $151,
respectively.
Note 8 - Land, Buildings, Equipment and Software, Net
Land, buildings and equipment, net were as follows:
December 31,
Estimated
Useful Lives
(Years) 2015 2014
Land $31$42
Building and building equipment 25 to 50 947 996
Leasehold improvements Varies 452 466
Plant machinery 5 to 12 1,274 1,375
Office furniture and equipment 3 to 15 1,389 1,384
Other 4 to 20 65 78
Construction in progress 54 73
Subtotal 4,212 4,414
Accumulated depreciation (3,216)(3,291)
Land, Buildings and Equipment, Net $ 996 $1,123
Xerox 2015 Annual Report 92