US Postal Service 2014 Annual Report Download - page 60

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2014 Report on Form 10-K United States Postal Service 56
At September 30, 2014 scheduled repayments of debt principal by fiscal year, exclusive of capital leases, was as follows:
(in millions)
2015
$
9,800
2016
300
2017
—
2018
—
2019
2,700
Thereafter
2,200
Total debt maturities
$
15,000
Note 7- Commitments and Contingencies
The Postal Service leases premises and equipment under operating and capital leases having terms from 3 to 20 years with
options to renew. Certain non-cancellable real estate leases have purchase options at prices specified in the leases. Future
minimum lease payments for all non-cancellable leases with original lease terms greater than one year are set forth in the
following table:
(in millions)
Operating
Capital
2015
$
731
$
91
2016
677
88
2017
610
79
2018
558
64
2019
503
49
Thereafter
3,682
101
Total lease obligations
$
6,761
$
472
Less: Interest
117
Total capital lease obligations
$
355
Less: Current portion of capital lease obligations
61
Noncurrent portion of capital lease obligations
$
294
Capital leases are included in “Property and equipment, net”, at historical cost, at September 30, 2014 and 2013 were $812
million and $855 million, respectively. Total accumulated amortization related to capital leases was $577 million and $576
million at September 30, 2014 and 2013, respectively. Amortization expense for assets recorded as capital leases is included in
“Other operating expense” in the Statements of Operations.