Alpine 2007 Annual Report Download - page 30

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28
13. Lease Information
Finance leases, except for those leases for which the ownership of the leased assets are considered to be transferred to the lessees, are accounted
for in the same manner as operating leases. At March 31, 2007 and 2006, the equivalent amounts of purchase price, accumulated depreciation and
book value of leased properties were as follows:
2007 2006 2007
Purchase price equivalent of machinery and equipment ¥1,376 ¥1,949 $11,656
Accumulated depreciation equivalent of machinery and equipment 966 1,281 8,183
Net book value equivalent ¥410 ¥668 $3,473
Purchase price equivalent of other assets ¥1 ¥24 $8
Accumulated depreciation equivalent of other assets 1 19 8
Net book value equivalent ¥0 ¥5 $0
Thousands of U.S. Dollars
Millions of Yen
The future minimum lease payments excluding interest expense under finance leases at March 31, 2007 and 2006 were as follows:
2007 2006 2007
Current ¥223 ¥281 $1,889
Non-current 209 416 1,770
Total ¥432 ¥697 $3,659
Thousands of U.S. Dollars
Millions of Yen
Such finance lease payments of the Companies amounted to ¥302 million (US$2,558 thousand), ¥440 million and ¥494 million for the years ended
March 31, 2007, 2006 and 2005, respectively.
The equivalent of depreciation expense amounting to ¥284 million (US$2,406 thousand) in 2007, ¥411 million in 2006, and ¥461 million in 2005,
was computed using the straight-line method over the lease terms assuming no residual value. The equivalent of interest expense amounting to ¥12
million (US$102 thousand) in 2007, ¥20 million in 2006, and ¥29 million in 2005, was computed using the interest rate method over the lease terms
for the difference between acquisition cost and total lease payments.
The future minimum lease payments under noncancelable operating leases at March 31, 2007 and 2006 were as follows:
2007 2006 2007
Current ¥396 ¥246 $3,354
Non-current 598 275 5,066
Total ¥994 ¥521 $8,420
Thousands of U.S. Dollars
Millions of Yen