Boeing 2008 Annual Report Download - page 90

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Scheduled receipts on customer financing are as follows:
Year
Principal
Payments on
Notes Receivable
Sales-
Type/
Finance
Lease
Payments
Receivable
Operating
Lease
Equipment
Payments
Receivable
2009 $341 $ 293 $375
2010 104 283 327
2011 129 325 267
2012 112 317 216
2013 80 273 167
Beyond 2013 111 1,960 563
Customer financing assets leased under capital leases and subleased to others totaled $43 at
December 31, 2007. Such amounts were not significant in 2008.
Note 9 – Property, Plant and Equipment
Property, plant and equipment at December 31 consisted of the following:
2008 2007
Land $ 540 $ 544
Buildings and land improvements 9,133 8,868
Machinery and equipment 9,990 9,308
Construction in progress 1,379 1,460
21,042 20,180
Less accumulated depreciation (12,280) (11,915)
$ 8,762 $ 8,265
Depreciation expense was $1,013, $978 and $1,058 for the years ended December 31, 2008, 2007
and 2006, respectively. Interest capitalized during the years ended December 31, 2008, 2007 and
2006 totaled $99, $117 and $110, respectively. At December 31, 2008 and 2007, we had $334 and
$314 of operating lease properties, net of $242 and $202 of accumulated depreciation.
Rental expense for leased properties was $426, $411 and $388, for the years ended December 31,
2008, 2007 and 2006, respectively. For the same periods, these expenses, substantially all minimum
rentals, were net of sublease income of $14, $26, and $18. At December 31, 2008, minimum rental
payments under capital leases aggregated $10, and payments due under capital leases during the
next five years are not material. Minimum rental payments under operating leases with initial or
remaining terms of one year or more aggregated $1,154, net of sublease payments of $17, at
December 31, 2008. Payments, net of sublease amounts, due under operating leases during the next
five years are as follows:
2009 2010 2011 2012 2013
$212 $173 $134 $84 $62
Noncancellable future rentals due from customers for equipment on operating leases aggregated $144
at December 31, 2008. Payments due during the next five years are as follows:
2009 2010 2011 2012 2013
$ 16 $ 15 $ 14 $14 $14
76