Sony 2005 Annual Report Download - page 99

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96 Sony Corporation
Yen in Dollars in
millions millions
Year ending March 31:
2006 . . . . . . . . . . . . . . . . . . . . . . . . .
¥22,650 $212
2007 . . . . . . . . . . . . . . . . . . . . . . . . .
18,287 171
2008 . . . . . . . . . . . . . . . . . . . . . . . . .
12,202 114
2009 . . . . . . . . . . . . . . . . . . . . . . . . .
10,623 99
2010 . . . . . . . . . . . . . . . . . . . . . . . . .
8,874 83
The aggregate amortization expenses for intangible assets for
the years ended March 31, 2003, 2004 and 2005 was ¥27,871
million, ¥28,866 million and ¥24,993 million ($234 million),
respectively. The estimated aggregate amortization expense for
intangible assets for the next five years is as follows:
The following is a schedule by year of the future minimum
lease payments under capital leases together with the present
value of the net minimum lease payments as of March 31, 2005:
Yen in Dollars in
millions millions
Year ending March 31:
2006 . . . . . . . . . . . . . . . . . . . . . . . . .
¥15,211 $142
2007 . . . . . . . . . . . . . . . . . . . . . . . . .
11,062 103
2008 . . . . . . . . . . . . . . . . . . . . . . . . .
8,895 83
2009 . . . . . . . . . . . . . . . . . . . . . . . . .
10,873 102
2010 . . . . . . . . . . . . . . . . . . . . . . . . .
3,001 28
Later years . . . . . . . . . . . . . . . . . . . . .
5,428 51
Total minimum lease payments . . . . . . .
54,470 509
Less—Amount representing interest . . .
14,169 132
Present value of net minimum lease
payments . . . . . . . . . . . . . . . . . . . . . .
40,301 377
Less—Current obligations . . . . . . . . . . .
11,713 110
Long-term capital lease obligations . . . .
¥28,588 $267
Minimum lease payments have not been reduced by minimum
sublease income of ¥11,480 million ($107 million) due in the
future under noncancelable subleases.
Minimum rental expenses under operating leases for the years
ended March 31, 2003, 2004 and 2005 were ¥94,364 million,
¥92,649 million and ¥81,391 million ($761 million), respectively.
Sublease rentals received under operating leases for the years
ended March 31, 2003, 2004 and 2005 were ¥6,240 million,
¥2,923 million and ¥1,933 million ($18 million), respectively. The
total minimum rentals to be received in the future under noncan-
celable subleases as of March 31, 2005 were ¥14,954 million
($140 million). The minimum rental payments required under
operating leases that have initial or remaining noncancelable lease
terms in excess of one year at March 31, 2005 are as follows:
Yen in Dollars in
millions millions
Year ending March 31:
2006 . . . . . . . . . . . . . . . . . . . . . . . . .
¥038,182 $0,357
2007 . . . . . . . . . . . . . . . . . . . . . . . . .
30,568 286
2008 . . . . . . . . . . . . . . . . . . . . . . . . .
22,993 215
2009 . . . . . . . . . . . . . . . . . . . . . . . . .
14,060 131
2010 . . . . . . . . . . . . . . . . . . . . . . . . .
10,496 98
Later years . . . . . . . . . . . . . . . . . . . . .
53,652 501
Total minimum future rentals . . . . . . . . .
¥169,951 $1,588
10. Goodwill and intangible assets
Intangible assets acquired during the year ended March 31,
2005 totaled ¥22,844 million ($213 million), which are subject
to amortization and primarily consist of acquired patent rights
of ¥6,673 million ($62 million) and software to be sold, leased
or otherwise marketed of ¥11,546 million ($108 million). The
weighted average amortization period for acquired patent rights
and software to be sold, leased or otherwise marketed is 8 years
and 3 years, respectively.
Intangible assets subject to amortization comprise the following:
Yen in millions Dollars in millions
2004 2005 2005
Gross Gross Gross
carrying Accumulated carrying Accumulated carrying Accumulated
March 31 amount amortization amount amortization amount amortization
Artist contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
¥080,675 ¥0(68,300) ¥015,218 ¥(11,094) $0,142 $(104)
Music catalog . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
109,795 (47,610) 65,674 (19,641) 614 (184)
Acquired patent rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
52,996 (23,172) 55,173 (26,139) 516 (244)
Software to be sold, leased or otherwise marketed . . . . . . . . . . .
31,983 (13,577) 31,907 (16,181) 298 (151)
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
55,048 (27,422) 27,648 (11,625) 258 (108)
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
¥330,497 ¥(180,081) ¥195,620 ¥(84,680) $1,828 $(791)
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