EMC 2007 Annual Report Download - page 91
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EMC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
The benefit payments are expected to be paid in the following years (table in thousands):
2008 $ 713
2009 613
2010 498
2011 426
2012 303
2013-2017 989
N. Commitments and Contingencies
Operating Lease Commitments
We lease office and warehouse facilities and equipment under various operating leases. Facility leases generally include renewal options. Rent expense
was as follows (table in thousands):
2007 2006 2005
Rent expense $277,602 $234,341 $214,303
Sublease proceeds (12,811) (9,430) (7,940)
Net rent expense $264,791 $224,911 $206,363
Our future lease commitments are as follows (table in thousands):
2008 $ 214,516
2009 188,220
2010 135,662
2011 92,306
2012 64,954
Thereafter 408,086
Total minimum lease payments $ 1,103,744
We sublet certain of our office facilities. Non-cancelable sublease proceeds are as follows (table in thousands):
2008 $ 10,740
2009 8,859
2010 5,644
2011 3,621
2012 1,098
Thereafter —
Total sublease proceeds $ 29,962
Outstanding Purchase Orders
At December 31, 2007 we had outstanding purchase orders aggregating approximately $1.5 billion. The purchase orders are for manufacturing and non-
manufacturing related goods and services. While the purchase orders are generally cancelable without penalty, certain vendor agreements provide for
percentage-based cancellation fees or minimum restocking charges based on the nature of the product or service.
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