Sony 2015 Annual Report Download - page 169
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SONY CORPORATION AND CONSOLIDATED SUBSIDIARIES
The following is a schedule by fiscal 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, 2016:
Fiscal year ending March 31 Yen in millions
2017 13,768
2018 6,863
2019 5,933
2020 5,043
2021 4,017
Later fiscal years 4,578
Total minimum lease payments 40,202
Less — Amount representing interest 2,529
Present value of net minimum lease payments 37,673
Less — Current obligations 13,238
Long-term capital lease obligations 24,435
(2) Operating leases
The minimum rental payments required under operating leases that have initial or remaining noncancelable
lease terms in excess of one year at March 31, 2016 are as follows:
Fiscal year ending March 31 Yen in millions
2017 59,236
2018 46,690
2019 32,252
2020 44,455
2021 20,119
Later fiscal years 104,020
Total minimum future rentals 306,772
Rental expenses under operating leases for the fiscal years ended March 31, 2014, 2015 and 2016 were
101,410 million yen, 92,828 million yen and 94,000 million yen, respectively. Sublease rentals received under
operating leases for the fiscal years ended March 31, 2014, 2015 and 2016 were 1,119 million yen, 1,180 million
yen and 1,138 million yen, respectively. The total minimum rentals to be received in the future under
noncancelable subleases for operating leases as of March 31, 2016 were 2,233 million yen.
(3) Sale and leaseback transactions
Sale and leaseback transactions with SFIL -
In the fiscal year ended March 31, 2014, Sony entered into sale and leaseback transactions regarding certain
machinery and equipment with SFIL. Transactions with total proceeds of 6,810 million yen and terms which
averaged two years, have been accounted for as financings and are included within proceeds from issuance of
long-term debt in the financing activities section of the consolidated statements of cash flows. Additionally, a
transaction with leasing companies including SFIL, with proceeds of 76,566 million yen, and terms which
averaged three years, have been accounted for as a capital lease and are included within proceeds from sales of
fixed assets in the investing activities section of the consolidated statements of cash flows. There was no gain or
loss recorded in the sale and leaseback transactions.
F-35