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This excerpt taken from the ELN 20-F filed Feb 26, 2009. (i) Leasing
Property, plant and equipment acquired under a lease that
transfers substantially all of the risks and rewards of
ownership to us (a capital lease) are capitalized. Amounts
payable under such leases, net of finance charges, are shown as
current or long-term liabilities as appropriate. An asset
acquired through capital lease is stated at an amount equal to
the lower of its fair value or the present value of the minimum
lease payments at the inception of the lease, less accumulated
depreciation and impairment losses, and is included in property,
plant and equipment. Finance charges on capital leases are
expensed over the term of the lease to give a constant periodic
rate of interest charge in proportion to the capital balances
outstanding. All other that are not capital leases are
considered operating leases. Rentals on operating leases are
charged to expense on a straight-line basis.
Table of Contents
Elan
Corporation, plc
NOTES TO
THE CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
This excerpt taken from the ELN 20-F filed Feb 28, 2008. (h) Leasing
Property, plant and equipment acquired under a lease that
transfers substantially all of the risks and rewards of
ownership to us (a capital lease) are capitalized. Amounts
payable under such leases, net of finance charges, are shown as
current or long-term liabilities as appropriate. An asset
acquired through capital lease is stated at an amount equal to
the lower of its fair value or the present value of the minimum
lease payments at the inception of the lease, less accumulated
depreciation and impairment losses, and is included in property,
plant and equipment. Finance charges on capital leases are
expensed over the term of the lease to give a constant periodic
rate of interest charge in proportion to the capital balances
outstanding. All other leases which are not capital leases are
considered operating leases. Rentals on operating leases are
charged to expense on a straight-line basis.
This excerpt taken from the ELN 20-F filed Mar 30, 2006. (h) Leasing
Property, plant and equipment acquired under a lease that
transfers substantially all of the risks and rewards of
ownership to us (a capital lease), are capitalized. Amounts
payable under such leases, net of finance charges, are shown as
current or long-term liabilities as appropriate. An asset
acquired by capital lease is stated at an amount equal to the
lower of its fair value or the present value of the minimum
lease payments at the inception of the lease, less accumulated
depreciation and impairment losses, and is included in property,
plant and equipment. Finance charges on capital leases are
expensed over the term of the lease to give a constant periodic
rate of interest charge in proportion to the capital balances
outstanding. All other leases which are not capital leases are
considered operating leases. Rentals on operating leases are
charged to expense on a straight-line basis.
This excerpt taken from the ELN 6-K filed Apr 11, 2005. p Leasing Tangible fixed assets, acquired under a lease that transfers substantially all of the risks and rewards of ownership to us, are capitalised as a fixed asset. Amounts payable under such leases (finance leases), net of finance charges, are shown as current
Notes Relating to Financial Statements or long-term liabilities as appropriate. Finance charges on finance leases are charged to the profit and loss account over the term of the lease to give a constant rate of charge in proportion to the capital balances outstanding. Rentals on operating leases are charged to the profit and loss account on a straight-line bais. | EXCERPTS ON THIS PAGE:
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