TMTA » Topics » Operating Leases

This excerpt taken from the TMTA 10-K filed Mar 30, 2007.
Operating Leases
 
Transmeta leases its facilities and certain equipment under noncancelable operating leases expiring through 2008. Gross operating lease and rental expenses were $7.4 million, $6.2 million and $3.0 million in fiscals 2006, 2005 and 2004, respectively. The facility leases provide for a 4% annual base rent increase. Of the total operating lease commitments of $9.7 million included in the table below, the Company has accrued $3.0 million of the liabilities as a component of accrued restructuring costs (See Note 8). During fiscals 2003 and 2004, Transmeta entered into agreements that expire in 2007 and 2008 to sublease portions of its facilities that were vacated as part of the 2002 restructuring plan. Accordingly, sublease income of $465,000, $325,000 and $188,000 in fiscals 2006, 2005 and 2004, respectively, derived from this agreement was charged to the accrued restructuring charge balance.
 
At December 31, 2006, future minimum payments for purchase obligations and operating lease obligations, net of sublease income are as follows:
 
         
    Operating
 
    Leases  
    (In thousands)  
 
Years ending December 31,
       
2007
    5,808  
2008
    3,028  
2009 and thereafter
    820  
         
Total minimum net purchase and operating lease obligation payments
  $ 9,656  
         
 
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