Fiscal Year 2004 Performance and Accountability Report Published November 15, 2004
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VA has both capital and operating leases. The capital lease liability is $30 and $33 million as of September 30, 2004 and 2003, respectively. Real property leases reflect those that VA has committed to as of September 30, 2004. Due to the number of equipment operating leases and the decentralization of records, the future commitment for equipment operating leases is not known. VA's FY 2004 operating lease costs were $243 million for real property rentals and $79 million for equipment rentals. The FY 2003 operating lease costs consisted of $236 million for real property rentals and $67 million for equipment rental. The following chart represents VA's operating lease commitments or costs for the next 5 years. Equipment amounts assume a range of 3.1 to 3.5 percent yearly increase in cost.
Leases:
YEAR |
REAL PROPERTY |
PERCENTAGE |
EQUIPMENT |
2005 |
$ 237 |
3.1 |
$ 82 |
2006 |
227 |
3.5 |
85 |
2007 |
212 |
3.4 |
88 |
2008 |
205 |
3.4 |
91 |
2009 |
188 |
3.4 |
94 |
|