|
 |
Financial Information:
Annual Report 2003
| Notes
to Consolidated Financial Statements |
NSK Ltd. and Subsidiaries
For the year ended March 31, 2003
| 14. Leases |
 |
(a) Finance Leases
The following pro forma amounts represent the acquisition
costs, accumulated depreciation and net book value of the leased
property as of March 31, 2003 and 2002, which would have been
reflected in the consolidated balance sheets if finance lease
accounting had been applied to the finance leases currently accounted
for as operating leases:
| Millions
of yen |
Thousands
of
U.S. dollars |
| As of March
31 |
2003 |
2002 |
2003 |
| Acquisition costs: |
|
|
|
| Machinery and equipment |
¥4,510 |
¥5,232 |
$37,583 |
| Other assets |
1,936 |
2,361 |
16,133 |
|
| |
¥6,446 |
¥7,594 |
$53,717 |
|
| |
|
|
|
| Accumulated depreciation: |
|
|
|
| Machinery and equipment |
¥2,198 |
¥2,449 |
$18,317 |
| Other assets |
857 |
1,231 |
7,142 |
|
| |
¥3,055 |
¥3,681 |
$25,458 |
|
| |
|
|
|
| Net book value: |
|
|
|
| Machinery and equipment |
¥2,311 |
¥2,782 |
$19,258 |
| Other assets |
1,078 |
1,130 |
8,983 |
|
| |
¥3,390 |
¥3,913 |
$28,250 |
|
Lease payments relating to finance leases accounted for as
operating leases amounted to ¥1,371 million ($11,425 thousand)
and ¥1,466 million, which were equal to the depreciation expense
of the leased assets computed by the straight-line method over
the lease terms, for the years ended March 31, 2003 and 2002,
respectively.
Future minimum lease payments (including the interest portion
thereon) subsequent to March 31, 2003 for finance leases accounted
for as operating leases are summarized as follows:
| For the years ending March 31 |
Millions
of yen |
Thousands
of
U.S. dollars |
| 2004 |
¥1,189 |
$9,908 |
| 2005 and thereafter |
2,201 |
18,342 |
|
| Total |
¥3,390 |
$28,250 |
|
(b) Operating Leases
Future minimum lease payments subsequent to March 31, 2003 for
noncancelable operating leases are summarized as follows:
| For the years ending March 31 |
Millions
of yen |
Thousands
of
U.S. dollars |
| 2004 |
¥767 |
$6,392 |
| 2005 and thereafter |
2,714 |
22,617 |
|
| Total |
¥3,482 |
$29,017 |
|
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