Olympus 2004 Annual Report Download - page 46

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4 4 O LYMPUS 2 0 0 4
Thousands of
M illions of yen U.S. dollars
2 0 0 4 2 0 0 3 2 0 0 4
(Accrued lease payments)
Lease payments ...................................................................................................... ¥ 2 ,120 ¥2,176 $ 1 9 ,2 7 3
Eq uivalent o f depreciation expense ............................................................................ 1 ,9 5 9 1 ,9 8 7 1 7 ,8 0 9
Equivalent of interest expense ................................................................................... 162 1 6 8 1,473
Equivalent o f depreciatio n expense is co mputed using the straight-line method o ver the lease terms assuming no residual value. Equivalent
o f interest expense is co mputed using interest rate metho d o ver the lease terms for the difference between acquisition cost and total lease
payments.
Future minimum lease payments under the non-cancelable finance and o perating leases having remaining terms in excess of o ne year as
o f March 3 1, 200 4 are as follows:
Thousands of
M illions of yen U.S. dollars
2004 ................................................................................................................................................ ¥1,868 $16,982
2005 and thereafter ............................................................................................................................. 2,779 25,263
Total minimum lease payments ........................................................................................................... .. .. . ¥ 4 , 6 4 7 $ 4 2 ,2 4 5
LESSO R:
Certain machinery and equipment o f the Co mpany and its co nsolidated subsidiaries are leased under the finance leases. Fo r the years ended
March 3 1 , 2 0 0 4 and 2003, the amounts o f machinery and equipment were summarized as follo ws:
Thousands of
M illions of yen U.S. dollars
2 0 0 4 2 0 0 3 2 0 0 4
Acquisition cost .......................................................................................................... ¥ 6,66 6 ¥ 7 ,49 1 $ 60 ,6 0 0
Accumulated depreciation............................................................................................. (3,578) (3 , 9 8 7 ) (3 2 ,5 2 7 )
Net book value ........................................................................................................... ¥ 3,088¥ 3 ,5 04 $ 2 8 ,07 3
Thousands of
M illions of yen U.S. dollars
2 0 0 4 2 0 0 3 2 0 0 4
Lease income.............................................................................................................. ¥1,776¥1,738 $16,145
Depreciation expense................................................................................................... 1,606 1,537 1 4 ,6 0 0
Estimated interest income.............................................................................................. 140 185 1 ,2 7 3
Estimated interest inco me is co mputed using interest rate metho d over the lease terms for the difference between acquisitio n co st and total
lease receipts.
Future minimum lease receipts under these finance lease arrangements as o f Ma rch 3 1 , 2 004 are as follo ws:
Thousands of
M illions of yen U.S. dollars
2004 ................................................................................................................................................. ¥1,243 $11,300
2005 and thereafter .............................................................................................................................. 1,962 17,836
Total minimum lease receipts ................................................................................................................... ¥3,205 $29,136
olympus ar04 fs-07/06K 04.8.4 14:30 ページ 44