Albertsons 2007 Annual Report Download - page 100

Download and view the complete annual report

Please find page 100 of the 2007 Albertsons annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 124

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124

SU
PERVAL
U
IN
C
. and
S
ubsidiaries
N
OTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
T
he Compan
y
is part
y
to a s
y
nthetic leasin
g
pro
g
ram for one of its ma
j
or warehouses. The lease qualifies fo
r
o
perating lease accounting treatment under SFAS No. 13, “Accounting for Leases.” For additional information
o
n the synthetic lease, refer to Note 1
6
—Commitments, Contingencies and Off-Balance Sheet Arrangements.
F
uture m
i
n
i
mum rece
i
va
bl
es un
d
er noncance
ll
a
bl
e operat
i
ng
l
eases on owne
d
property an
d
su
bl
eases
i
ne
ff
ect a
t
F
ebruar
y
24, 2007 were as follows:
O
wned
P
roperty
Leased
P
roperty
To
t
al
F
i
sca
lY
ea
r
s
:
2008 $23 $ 57 $ 8
0
200
9
13 45 58
2010 9 34 43
2011
7
2
7
34
2
0
12
6
21 2
7
Later
85
7
65
T
otal future minimum receivables
$
66
$
241
$
30
7
Owned property leased to third parties was as follows:
F
ebruar
y
24
,
2
00
7
Februar
y
25,
2006
pyp qp
P
ro
p
ert
y
,
p
lant and e
q
ui
p
ment $ 37 $12
Less accumulated de
p
reciation (12) (7
)
pyp qp
P
ro
p
ert
y
,
p
lant and e
q
ui
p
ment, net
$
25
$
5
Di
rect F
i
nanc
i
n
g
Leases
Un
d
er
di
rect
fi
nanc
i
ng cap
i
ta
ll
eases, t
h
e Company
l
eases
b
u
ildi
ngs to
i
n
d
epen
d
ent reta
il
ers w
i
t
h
terms rang
i
ng
f
rom five to 20
y
ears. Future minimum rentals to be received under direct financin
g
leases and related futur
e
minimum obligations under capital leases in effect at February 24, 2007, are as follows
:
Di
r
ect
Fi
nanc
i
ng
Lease
Rece
i
vab
l
es
D
i
r
ect
Fi
nanc
i
ng
C
ap
i
tal Leas
e
O
bligation
s
F
i
sca
lY
ea
r
s
:
2008 $ 10 $
9
2009 9 9
2010 9 8
2011
77
2
0
12 7
6
Later 27 2
5
T
otal minimum lease
p
a
y
ments 69 64
py
Less unearned income (20) —
Less interest — (17)
py
P
resent va
l
ue o
f
net m
i
n
i
mum
l
ease
p
a
y
ments 49 4
7
Less current portion (
6
)(
6
)
gp
Lon
g
-term
p
ortion $ 43 $ 41
F-
34