VZ » Topics » As Lessee

This excerpt taken from the VZ 10-K filed Feb 26, 2010.

As Lessee

We lease certain facilities and equipment for use in our operations under both capital and operating leases. Total rent expense under operating leases amounted to $2,518 million, $2,201 million and $2,051 million in 2009, 2008 and 2007, respectively.

Amortization of capital leases is included in Depreciation and amortization expense in the consolidated statements of income. Capital lease amounts included in Plant, property and equipment are as follows:

 

     (dollars in millions)
At December 31,                      2009                      2008

Capital leases

   $   357    $ 298

Less accumulated amortization

     126      97
      

Total

   $ 231    $   201
      

The aggregate minimum rental commitments under noncancelable leases for the periods shown at December 31, 2009, are as follows:

 

     (dollars in millions)
Years    Capital Leases    Operating Leases

2010

   $ 102    $ 1,971

2011

     92      1,706

2012

     73      1,422

2013

     68      1,154

2014

     53      938

Thereafter

     106      5,135
      

Total minimum rental commitments

     494    $   12,326
         

Less interest and executory costs

     97   
         

Present value of minimum lease payments

     397   

Less current installments

     79   
         
Long-term obligation at December 31, 2009    $   318   
         

As of December 31, 2009, the total minimum sublease rentals to be received in the future under noncancelable operating subleases was approximately $44 million.


Note 9
Debt
This excerpt taken from the VZ 8-K filed Nov 2, 2009.

As Lessee

We lease certain facilities and equipment for use in our operations under both capital and operating leases. Total rent expense from continuing operations under operating leases amounted to $1,835 million in 2008, $1,712 million in 2007 and $1,608 million in 2006.

Amortization of capital leases is included in depreciation and amortization expense in the consolidated statements of income. Capital lease amounts included in plant, property and equipment are as follows:

 

     (dollars in millions)  
At December 31,    2008     2007  

Capital leases

   $ 298      $ 329   

Accumulated amortization

     (97     (153
        

Total

   $ 201      $ 176   
        

The aggregate minimum rental commitments under noncancelable leases for the periods shown at December 31, 2008, are as follows:

 

     (dollars in millions)
Years    Capital Leases     Operating Leases

2009

   $ 90      $ 1,620

2010

     81        1,339

2011

     76        1,039

2012

     56        770

2013

     51        539

Thereafter

     126        1,995
      

Total minimum rental commitments

     480      $ 7,302
        

Less interest and executory costs

     (90  
          

Present value of minimum lease payments

     390     

Less current installments

     (63  
          

Long-term obligation at December 31, 2008

   $ 327     
          

As of December 31, 2008, the total minimum sublease rentals to be received in the future under noncancelable operating subleases was approximately $57 million.

 

Note 10

 

Debt
These excerpts taken from the VZ 10-K filed Feb 24, 2009.

As Lessee

We lease certain facilities and equipment for use in our operations under both capital and operating leases. Total rent expense from continuing operations under operating leases amounted to $1,835 million in 2008, $1,712 million in 2007 and $1,608 million in 2006.

Amortization of capital leases is included in depreciation and amortization expense in the consolidated statements of income. Capital lease amounts included in plant, property and equipment are as follows:

 

(dollars in millions)  
At December 31,                      2008                       2007  

Capital leases

   $   298     $ 329  

Accumulated amortization

     (97 )     (153 )
        

Total

   $ 201     $   176  
        

 

The aggregate minimum rental commitments under noncancelable leases for the periods shown at December 31, 2008, are as follows:

 

 

(dollars in millions)  
Years    Capital Leases     Operating Leases  

2009

   $ 90     $ 1,620  

2010

     81       1,339  

2011

     76       1,039  

2012

     56       770  

2013

     51       539  

Thereafter

     126       1,995  
        

Total minimum rental commitments

     480     $   7,302  
          

Less interest and executory costs

     (90 )  
          

Present value of minimum lease payments

     390    

Less current installments

     (63 )  
          

Long-term obligation at December 31, 2008

   $   327    
          

As of December 31, 2008, the total minimum sublease rentals to be received in the future under noncancelable operating subleases was approximately $57 million.

 

Note 10

 

Debt

 

As Lessee

SIZE="2">We lease certain facilities and equipment for use in our operations under both capital and operating leases. Total rent expense from continuing operations under operating leases amounted to $1,835 million in 2008, $1,712 million in 2007 and
$1,608 million in 2006.

Amortization of capital leases is included in depreciation and amortization expense in the consolidated statements
of income. Capital lease amounts included in plant, property and equipment are as follows:

 













































































































































































































































(dollars in millions) 
At December 31,  SIZE="2">                  2008                    2007 

Capital leases

  $  298  $329 

Accumulated amortization

   (97)  (153)
     

Total

  $201  $  176 
     

 

The aggregate minimum rental commitments under
noncancelable leases for the periods shown at December 31, 2008, are as follows:

 

 

STYLE="font-size:12px;margin-top:0px;margin-bottom:1px">

(dollars in millions) 
Years  Capital Leases  Operating Leases 

2009

  $90  $1,620 

2010

   81   1,339 

2011

   76   1,039 

2012

   56   770 

2013

   51   539 

Thereafter

   126   1,995 
     

Total minimum rental commitments

   480  $  7,302 
      

Less interest and executory costs

   (90) 
      

Present value of minimum lease payments

   390  

Less current installments

   (63) 
      

Long-term obligation at December 31, 2008

  $  327  
      

As of December 31, 2008, the total minimum sublease rentals to be received in the future
under noncancelable operating subleases was approximately $57 million.

 








Note 10

STYLE="font-size:1px;margin-top:0px;margin-bottom:1px"> 








Debt

 

This excerpt taken from the VZ 10-K filed Feb 28, 2008.

As Lessee

 

We lease certain facilities and equipment for use in our operations under both capital and operating leases. Total rent expense from continuing operations under operating leases amounted to $1,712 million in 2007, $1,608 million in 2006 and $1,458 million in 2005.

 

Amortization of capital leases is included in depreciation and amortization expense in the consolidated statements of income. Capital lease amounts included in plant, property and equipment are as follows:

 

     (dollars in millions)  
At December 31,    2007     2006  

Capital leases

   $    329     $    359  

Accumulated amortization

   (153 )   (160 )

Total

   $    176     $    199  

 

The aggregate minimum rental commitments under noncancelable leases for the periods shown at December 31, 2007, are as follows:

 

           (dollars in millions)
Years    Capital Leases     Operating Leases

2008

   $     75     $  1,489

2009

   63     1,276

2010

   59     1,016

2011

   55     756

2012

   38     497

Thereafter

   132     1,967

Total minimum rental commitments

   422     $  7,001

Less interest and executory costs

   (110 )    

Present value of minimum lease payments

   312      

Less current installments

   (46 )    

Long-term obligation at December 31, 2007

   $    266      

 

As of December 31, 2007, the total minimum sublease rentals to be received in the future under noncancelable operating and capital subleases were $50 million and $22 million, respectively.

 

Note 11

Debt

 

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CHINA UNICOM (CHU)
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