VRSN » Topics » Leases

This excerpt taken from the VRSN 10-K filed Mar 3, 2009.

Leases

 

VeriSign leases a portion of its facilities under operating leases that extend through 2017, and subleases a portion of its office space to third parties. The minimum lease payments under non-cancelable operating leases and the future minimum contractual sublease income as of December 31, 2008, are as follows:

 

     Operating
Lease Payments
   Sublease
Income
    Net Lease
Payments
     (In thousands)

2009

   $ 31,019    $ (1,679 )   $ 29,340

2010

     27,167      (113 )     27,054

2011

     16,416      (15 )     16,401

2012

     10,147      —         10,147

2013

     9,619      —         9,619

Thereafter

     16,362      —         16,362
                     

Total

   $ 110,730    $ (1,807 )   $ 108,923
                     

 

Future operating lease payments include payments related to leases on excess facilities included in VeriSign’s restructuring plans.

 

Net rental expense, inclusive of discontinued operations, under operating leases was $26.0 million in 2008, $25.7 million in 2007, and $29.2 million in 2006. VeriSign has subleased offices to various companies under non-cancelable operating leases. VeriSign received payments of $1.2 million in 2008, $0.1 million in 2007, and $0.6 million in 2006.

 

This excerpt taken from the VRSN 10-K filed Feb 29, 2008.

Leases

 

VeriSign leases a portion of its facilities under operating leases that extend through 2017, and subleases a portion of its office space to third parties. The minimum lease payments under non-cancelable operating leases and the future minimum contractual sublease income as of December 31, 2007, are as follows:

 

     Operating
Lease Payments
   Sublease
Income
    Net Lease
Payments
     (In thousands)

2008

   $ 26,135    $ (537 )   $ 25,598

2009

     22,113      (654 )   $ 21,459

2010

     18,859      (11 )   $ 18,848

2011

     14,917      (3 )   $ 14,914

2012

     9,426      —       $ 9,426

Thereafter

     24,284      —       $ 24,284
                     

Total

   $ 115,734    $ (1,205 )   $ 114,529
                     

 

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Table of Contents

VERISIGN, INC. AND SUBSIDIARIES

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

DECEMBER 31, 2007, 2006 AND 2005

 

Future operating lease payments include payments related to leases on excess facilities included in VeriSign’s restructuring plans.

 

Net rental expense under operating leases was $25.7 million in 2007, $29.2 million in 2006, and $20.7 million in 2005. VeriSign has subleased offices to various companies under non-cancelable operating leases. VeriSign received payments of $0.1 million in 2007, $0.6 million in 2006, and $3.6 million in 2005.

 

This excerpt taken from the VRSN 8-K filed Nov 5, 2007.

Leases

VeriSign leases a portion of its facilities under operating leases that extend through 2014 and subleases a portion of its office space to third parties. The minimum lease payments under non-cancelable operating leases and the future minimum contractual sublease income as of December 31, 2006 are as follows:

 

     Operating
Lease Payments
   Sublease
Income
    Net Lease
Payments
     (In thousands)

2007

   $ 30,727    $ (314 )   $ 30,413

2008

     25,065      (140 )     24,925

2009

     19,561      (11 )     19,550

2010

     16,901      (11 )     16,890

2011

     10,171      (4 )     10,167

Thereafter

     5,463      —         5,463
                     

Total

   $ 107,888    $ (480 )   $ 107,408
                     

 

49


Future operating lease payments include payments related to leases on excess facilities included in VeriSign’s restructuring plans.

Net rental expense under operating leases was $29.2 million in 2006, $20.7 million in 2005 and $16.3 million in 2004. VeriSign has subleased offices to various companies under non-cancelable operating leases. VeriSign received payments of $616,000 in 2006, $3.6 million in 2005 and $4.3 million in 2004.

This excerpt taken from the VRSN 10-K filed Jul 12, 2007.

Leases

 

VeriSign leases a portion of its facilities under operating leases that extend through 2014 and subleases a portion of its office space to third parties. The minimum lease payments under non-cancelable operating leases and the future minimum contractual sublease income as of December 31, 2006 are as follows:

 

     Operating
Lease Payments
   Sublease
Income
    Net Lease
Payments
     (In thousands)

2007

   $ 30,727    $ (314 )   $ 30,413

2008

     25,065      (140 )     24,925

2009

     19,561      (11 )     19,550

2010

     16,901      (11 )     16,890

2011

     10,171      (4 )     10,167

Thereafter

     5,463      —         5,463
                     

Total

   $ 107,888    $ (480 )   $ 107,408
                     

 

Future operating lease payments include payments related to leases on excess facilities included in VeriSign’s restructuring plans.

 

Net rental expense under operating leases was $29.2 million in 2006, $20.7 million in 2005 and $16.3 million in 2004. VeriSign has subleased offices to various companies under non-cancelable operating leases. VeriSign received payments of $616,000 in 2006, $3.6 million in 2005 and $4.3 million in 2004.

 

 

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Table of Contents

VERISIGN, INC. AND SUBSIDIARIES

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

DECEMBER 31, 2006, 2005 AND 2004

 

This excerpt taken from the VRSN 10-K filed Mar 13, 2006.

Leases

 

VeriSign leases a portion of its facilities under operating leases that extend through 2014 and subleases a portion of its office space to third parties. The minimum lease payments under non-cancelable operating leases and the future minimum contractual sublease income as of December 31, 2005 are as follows:

 

    

Operating

Lease Payments


  

Sublease

Income


   

Net Lease

Payments


     (In thousands)

2006

   $ 31,145    $ (952 )   $ 30,193

2007

     28,238      (162 )     28,076

2008

     23,540      —         23,540

2009

     21,793      —         21,793

2010

     20,307      —         20,307

Thereafter

     32,468      —         32,468
    

  


 

Total

   $ 157,491    $ (1,114 )   $ 156,377
    

  


 

 

Future operating lease payments include payments related to leases on excess facilities included in VeriSign’s restructuring plans.

 

Net rental expense under operating leases was $20.7 million in 2005, $16.3 million in 2004, and $23.6 million in 2003. VeriSign has subleased offices to various companies under non-cancelable operating leases. VeriSign received payments of $3.6 million in 2005, $4.3 million in 2004, and $1.6 million in 2003.

 

This excerpt taken from the VRSN 10-K filed Mar 16, 2005.

Leases

 

VeriSign leases a portion of its facilities under operating leases that extend through 2014 and subleases a portion of its office space to third parties. The minimum lease payments under non-cancelable operating leases and the future minimum contractual sublease income as of December 31, 2004 are as follows:

 

    

Operating

Lease Payments


  

Sublease

Income


   

Net Lease

Payments


     (In thousands)

2005

   $ 27,648    $ (4,111 )   $ 23,537

2006

     21,234      (3,371 )     17,863

2007

     16,630      (2,854 )     13,776

2008

     12,681      (2,527 )     10,154

2009

     11,354      (73 )     11,281

Thereafter

     30,051      (168 )     29,883
    

  


 

Total

   $ 119,598    $ (13,104 )   $ 106,494
    

  


 

 

Future operating lease payments include payments related to leases on excess facilities included in VeriSign’s restructuring plans.

 

Net rental expense under operating leases was $16.3 million in 2004, $23.6 million in 2003, and $21.8 million in 2002. VeriSign has subleased offices to various companies under non-cancelable operating leases. VeriSign received payments of $4.3 million in 2004, $1.6 million in 2003, and $3.1 million in 2002.

 

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