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Annual Report 2005
66
MITSUBISHI MOTORS CORPORATION
In thousand of U.S. dollars
2005
Notional Notional
Notional equivalent equivalent
equivalent accumulated net book
acquisition cost depreciation value
Tools and equipment $291,235 $214,483 $ 76,751
Others 50,030 22,652 27,378
Total $341,266 $237,136 $104,129
(b) Future minimum lease payments of such finance leases:
In thousands of
In millions of yen U.S. dollars
2005 2004 2005
Due within 1 year ¥7,350 ¥9,542 $68,447
Due after 1 year 9,933 14,121 92,498
Total ¥17,283 ¥23,663 $160,945
(c) Lease payment expense, notional depreciation expense and notional interest expense of such finance leases:
In thousands of
In millions of yen U.S. dollars
2005 2004 2005
Lease payment expense ¥10,156 ¥12,861 $94,578
Notional depreciation expense 8,483 13,075 78,994
Notional interest expense 522 608 4,868
(d) Notional finance lease depreciation method
Notional depreciation of such finance leases is principally calculated and depreciated with no residual value by the
declining-balance method over the lease term.
(e) Calculation of notional interest expense of finance leases
The notional interest expense of such finance leases is principally regarded as the difference between total mini-
mum lease payments and acquisition cost, and is allocated to each period using the interest method.
Future minimum lease payments required under operating lease transactions entered into by MMC and its
consolidated subsidiaries at March 31, 2005 and 2004 were as follows:
In thousands of
In millions of yen U.S. dollars
2005 2004 2005
Due within 1 year ¥15,456 ¥11,260 $143,924
Due after 1 year 46,697 36,964 434,839
Total ¥62,153 ¥48,224 $578,763