NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(18) Leases
Certain of Fleetwoods facilities and equipment are leased under terms that range from monthly to five years.
The following is a schedule by year of future minimum rental payments required under operating and capital leases that have initial or remaining non-cancelable lease terms in excess of one year as of April 29, 2007:
Minimum Rental Payments | |||||||
---|---|---|---|---|---|---|---|
Fiscal Year | Operating | Capital | |||||
(Amounts in thousands) | |||||||
2008 | $ | 2,481 | $ | 2,233 | |||
2009 | 2,496 | 2,297 | |||||
2010 | 1,786 | 383 | |||||
2011 | 646 | 35 | |||||
Later years | 1,105 | 7 | |||||
Total minimum lease payments | $ | 8,514 | $ | 4,955 |
Rental expense for the last three fiscal years was as follows:
2007 | 2006 | 2005 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
(Amounts in thousands) | |||||||||||
Rental expense | $ | 3,716 | $ | 4,328 | $ | 4,360 | |||||
Less: Sublease rental income | (445 | ) | (364 | ) | (971 | ) | |||||
$ | 3,271 | $ | 3,964 | $ | 3,389 |