CCRA Annual Report to Parliament 2003-2004 - Financial Statements

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12. Capital lease obligations

The Agency has entered into agreements to rent information technology equipment under capital leases with a cost of $9,690,000 and accumulated amortization of $6,559,000 as at March 31, 2004 ($12,214,000 and $6,424,000 respectively as at March 31, 2003) (Note 8). The obligations for the upcoming years include the following:
2004
2003

(in thousands of dollars)

Year 1
2,906
3,231

Year 2
480
2,594

Year 3
0
480

Year 4
0
0

Year 5
0
0

Total future minimum lease payments
3,386
6,305

Less: imputed interest (2.36% – 6.17%)
105
337

Balance of obligations under capital leases

3,281
5,968



Date modified:
2004-10-28