WDC » Topics » Lease Commitments

These excerpts taken from the WDC 10-K filed Aug 20, 2008.
Lease Commitments
 
The Company leases certain facilities and equipment under long-term, non-cancelable operating and capital leases. The Company’s operating leases consist of leased property and equipment that expire at various dates through 2015.


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WESTERN DIGITAL CORPORATION
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
Rental expense under these operating leases, including month-to-month rentals, was $18 million, $15 million and $16 million in 2008, 2007 and 2006, respectively. The Company’s capital leases consist of leased equipment. These leases have maturity dates through July 2009 and interest rates averaging approximately 6.3%. Future minimum lease payments under operating and capital leases that have initial or remaining non-cancelable lease terms in excess of one year at June 27, 2008 are as follows (in millions):
 
                 
    Operating     Capital  
 
2009
  $ 13     $ 8  
2010
    12       1  
2011
    9        
2012
    7        
2013
    6        
Thereafter
    9        
                 
Total future minimum payments
  $ 56     $ 9  
                 
Less: interest on capital leases
             
                 
Total principal payable on capital leases
          $ 9  
                 
 
Lease
Commitments



 



The Company leases certain facilities and equipment under
long-term, non-cancelable operating and capital leases. The
Company’s operating leases consist of leased property and
equipment that expire at various dates through 2015.





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Table of Contents





 




WESTERN
DIGITAL CORPORATION




 




NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)


 



Rental expense under these operating leases, including
month-to-month rentals, was $18 million, $15 million
and $16 million in 2008, 2007 and 2006, respectively. The
Company’s capital leases consist of leased equipment. These
leases have maturity dates through July 2009 and interest rates
averaging approximately 6.3%. Future minimum lease payments
under operating and capital leases that have initial or
remaining non-cancelable lease terms in excess of one year at
June 27, 2008 are as follows (in millions):


 











































































































































































                 

 

 

Operating

 

 

Capital

 
 


2009


 

$

13

 

 

$

8

 


2010


 

 

12

 

 

 

1

 


2011


 

 

9

 

 

 



 


2012


 

 

7

 

 

 



 


2013


 

 

6

 

 

 



 


Thereafter


 

 

9

 

 

 



 

 

 

 

 

 

 

 

 

 


Total future minimum payments


 

$

56

 

 

$

9

 

 

 

 

 

 

 

 

 

 


Less: interest on capital leases


 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 


Total principal payable on capital leases


 

 

 

 

 

$

9

 

 

 

 

 

 

 

 

 

 






 




This excerpt taken from the WDC 10-K filed Aug 28, 2007.
Lease Commitments
 
The Company leases certain facilities and equipment under long-term, non-cancelable operating and capital leases. The Company’s operating leases consist of leased property and equipment that expire at various dates through 2015. Rental expense under these operating leases, including month-to-month rentals, was $15 million, $16 million and $16 million in 2007, 2006 and 2005, respectively. The Company’s capital leases consist of leased equipment. These leases have maturity dates through July 2009 and interest rates averaging approximately 5.9%. Future minimum lease payments under operating and capital leases that have initial or remaining non-cancelable lease terms in excess of one year at June 29, 2007 are as follows (in millions):
 
                 
    Operating     Capital  
 
2008
  $ 11     $ 13  
2009
    10       10  
2010
    10        
2011
    6        
2012
    2        
Thereafter
    5        
                 
Total future minimum payments
  $ 44     $ 23  
                 
Less: interest on capital leases
            (1 )
                 
Total principal payable on capital leases
          $ 22  
                 


57


Table of Contents

 
WESTERN DIGITAL CORPORATION
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
 
This excerpt taken from the WDC 10-K filed Nov 20, 2006.
Lease Commitments
 
The Company leases certain facilities and equipment under long-term, non-cancelable operating and capital leases. The Company’s operating leases consist of leased property and equipment that expire at various dates through 2012. Rental expense under these operating leases, including month-to-month rentals, was $16.1 million, $16.2 million and $14.9 million in 2006, 2005 and 2004, respectively. The Company’s capital leases consist of leased equipment. These leases have maturity dates through December 1, 2008 and interest rates averaging approximately 5.2%. Future minimum lease payments under operating and capital leases that have initial or remaining non-cancelable lease terms in excess of one year at June 30, 2006 are as follows (in millions):
 
                 
    Operating     Capital  
 
2007
  $ 11.2     $ 12.8  
2008
    9.5       5.6  
2009
    9.3       1.7  
2010
    8.7        
2011
    5.4        
Thereafter
    7.1        
                 
Total future minimum payments
  $ 51.2     $ 20.1  
                 
Less: interest on capital leases
            (1.1 )
                 
Total principal payable on capital leases
          $ 19.0  
                 
 
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