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58 TOSHIBA Annual Report 2014
Toshiba Corporation and Subsidiaries
March 31, 2014
Notes to Consolidated Financial Statements
21. LEASES
The Group leases manufacturing equipment, office and warehouse space, and certain other assets under operating
leases.
Rent expenses under such leases for the years ended March 31, 2014 and 2013 were ¥81,140 million ($787,767 thousand)
and ¥90,660 million, respectively.
The Group also leases certain machinery and equipment which are accounted for as capital leases. As of March 31, 2014
and 2013, the costs of machinery and equipment under capital leases were approximately ¥66,220 million ($642,913
thousand) and ¥66,990 million, and the related accumulated amortization were approximately ¥31,010 million ($301,068
thousand) and ¥31,680 million, respectively.
The costs of machinery and equipment under capital leases from affiliates of the Company and the related accumulated
amortization as of March 31, 2014 and 2013 were not significant.
Minimum lease payments for the Group's capital and non-cancelable operating leases as of March 31, 2014 are as
follows:
Millions of yen Thousands of U.S. dollars
Year ending March 31
Capital
leases
Operating
leases
Capital
leases
Operating
leases
2015 ¥ 10,968 ¥ 34,276 $ 106,485 $ 332,777
2016 8,283 29,867 80,418 289,971
2017 5,914 17,389 57,417 168,825
2018 3,627 10,074 35,214 97,806
2019 2,527 7,724 24,534 74,990
Thereafter 25,018 25,765 242,893 250,146
Total minimum lease payments 56,337 ¥ 125,095 546,961 $ 1,214,515
Executory costs (2,032) (19,728)
Amounts฀representing฀interest (20,041) (194,573)
Present value of net minimum lease payments 34,264 332,660
Less-current฀portion (9,493) (92,165)
¥ 24,771 $ 240,495
22. COMMITMENTS AND CONTINGENT LIABILITIES
Commitments for the purchase of property, plant and equipment, and unconditional purchase obligation for license fees
outstanding at March 31, 2014 totaled approximately ¥26,096 million ($253,359 thousand).
As of March 31, 2014, contingent liabilities, other than guarantees disclosed in Note 23, approximated ¥178 million
($1,728 thousand) mainly for recourse obligations related to notes receivable transferred.