NVIDIA 2010 Annual Report Download - page 117

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NVIDIA CORPORATION AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
Lease Obligations
Our headquarters complex is located in Santa Clara, California and includes eight buildings that are leased properties. The lease
agreements for five of the eight leased properties expire in fiscal year 2013 and include two seven-year renewals at our option; one
leased property expires in fiscal year 2012 with an option to extend for one year; one leased properties expire in fiscal year 2011 with
an option to extend for three years; and the remaining leased building expires in fiscal year 2015 with an option to extend for seven
years. Future minimum lease payments related to headquarter operating leases total $64.1 million over the remaining terms of the
leases, including predetermined rent escalations, and are included in the future minimum lease payment schedule below.
In addition to the commitment of our headquarters, we have other domestic and international office facilities under operating
leases expiring through fiscal year 2018. Future minimum lease payments under our non-cancelable operating leases as of January 31,
2010, are as follows:
Future Minimum
Lease Obligations
(In thousands)
Year ending January:
2011 $ 46,905
2012 47,944
2013 15,930
2014 9,628
2015 6,158
2016 and thereafter 18,395
Total $ 144,960
Rent expense for the years ended January 31, 2010, January 25, 2009 and January 27, 2008 was $46.2 million, $43.0 million
and $38.2 million, respectively.
In addition to these operating leases, we have a capital lease for a data center in Santa Clara, California. Future minimum lease
payments under this capital lease total $43.8 million over the remaining lease term, including predetermined rent escalations, and are
included in the future minimum lease payment schedule below:
Future Capital
Lease Obligations
(In thousands)
Year ending January:
2011 $ 4,311
2012 4,440
2013 4,573
2014 4,710
2015 4,852
2016 and thereafter 20,905
Total $ 43,791
Present Value of minimum lease payments $ 25,634
Current portion $ 1,184
Long term portion $ 24,450
93
Source: NVIDIA CORP, 10-K, March 18, 2010 Powered by Morningstar® Document Research℠