Presented below is the lease portion of the notes to the financial statements of CF Industries, Inc.
Question:
Presented below is the lease portion of the notes to the financial statements of CF Industries, Inc.
Rent expense for operating leases was $38.1 million for the year ended December 31, 2008, $31.2 million for 2007, and $26.5 million for 2006.
Instructions
What type of leases does CF Industries, Inc. use? What is the amount of the current portion of the capital leaseobligation?
Transcribed Image Text:
CF INDUSTRIES, INC. Notes to the Financial Statements Leases lease payments under noncancelable operating leases at December 31,2008, are: The present value of future minimum capital lease payments and the future minimum (in millions) Capital Lease Payments Operating Lease Payments 2009 2010 2011 2012 2013 Thereafter Future minimum lease payments Less: Equivalent interest Present value Less: Current portion 7.733 6,791 6,730 6,788 6,785 13,441 48,268 11.391 $33.2 27.2 11.4 7.3 4.5 11.3 $94.9 36,877 5,570 31,307
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (13 reviews)
CF Industries Inc uses bot...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0470507018
7th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
Below are excerpts from Notes to consolidated financial statements of four companies reporting movements in provisions. Stora Enso (Finland IFRS Source: Annual report 2011 Production of paper)...
-
Presented below is the subsidiary accounts receivable account of Lana Parilla. InstructionsWrite a memo to Maya Henssens, chief financial officer, that explains eachtransaction. Debit Date Ref....
-
Presented below is the partial bond discount amortization schedule for Bilder Corp. Bilder uses the effective-interest method of amortization. Instructions(a) Prepare the journal entry to record the...
-
A rectangular parking lot with a perimeter of 440 feet is to have an area of at least 8000 square feet. Within what bounds must the length of the rectangle lie?
-
Central City Construction (CCC) needs $1 million of assets to get started, and it expects to have a basic earning power ratio of 20%. CCC will own no securities, so all of its income will be...
-
Lompac Products manufactures a variety of products in its factory. Data for the most recent months operations appear below: Beginning raw materials inventory . $ 60, 000 Purchases of raw materials...
-
Data 2.7 on page 95 introduces the dataset HollywoodMovies, which contains information on more than 900 movies that came out of Hollywood between 2007 and 2013. One of the variables is the budget (in...
-
Mason, Durant, and Westbrook (MDW) is a tax services firm. The firm is located in Oklahoma City and employs 15 professionals and eight staff. The firm does tax work for small businesses and...
-
An option's premium is 1.50 and has a delta of 40 with an underlying future at 100. If the underlying future moved from 100 to 102, what would the option's new premium be based on delta?
-
Mr. Urgent is the Chief Executive Officer (CEO) of one of the stable companies. He is very passionate about corporate valuation and growth. As a mean to enhance the value of the firm he advised to...
-
Refer to the financial statements of PepsiCo and the Notes to Consolidated Financial Statements in Appendix A to answer the following questions about contingent liabilities , lease liabilities, and...
-
Presented below is the condensed balance sheet for Express, Inc. as of December 31, 2011. Express has decided that it needs to purchase a new crane for its operations. The new crane costs $900,000...
-
Deadlock is a situation when ___________. (a) Two or more threads have circular dependency on an object (b) Two or more threads are trying to access the same object (c) Two or more threads are...
-
The partners of Bentsen & Cole LLP had capital account balances of $45,000 and $25,000, respectively. They shared net income and losses in a 3:1 ratio. Prepare journal entries to record the admission...
-
Suppose the demand curve for a good is given by the equation P = 200 - 1/2 Q and the supply curve is given by the equation P = 50+ 1/4 Q, where P represents the price of the good (measured in dollars...
-
11. For the dry ingredients what are the material mix and yield variances respectively? A. $270 favourable/$270 unfavourable B. $360 unfavourable/$360 unfavourable C. $360 favourable/$360...
-
cut 7/10 Debby bought a bamboo plant that was 8/10 feet high. When she got it home she cut 7 feet off of it. How tall was the plant after she cut it down? 2) On Monday Olivia spent 3%, hours...
-
Determine the capital recovery for the machine in Problem 7.25, if the interest rate is 15% per year, compounded annually, and total operating and maintenance costs are $2000 per year.
-
Distinguish between verification and valuation.
-
The electric field due to a line charge is given by where l is a constant. Show that E is solenoidal. Show that it is also conservative. E =
-
Calculate 3 (i 2j) 6 (i + 6j).
-
Nitro-Sort Corporation issues a $350,000, 6%, 15-year mortgage note to obtain needed financing for a new lab. The terms call for semiannual payments of $17,857 each. Prepare the entries to record the...
-
James Morrison Corporation leases new equipment on December 31, 2010. The lease transfers ownership of the equipment to James Morrison at the end of the lease. The present value of the lease payments...
-
Jim Thome has prepared the following list of statements about bonds. 1. Bonds are a form of interest-bearing notes payable. 2. When seeking long-term financing, an advantage of issuing bonds over...
-
Michael arrived at work at 9 a.m. Monday and left at 5 p.m. He took one hour off for lunch. If he earns $7 per hour, but does not get paid for lunch, how much did he earn for the entire day?
-
The following events occur for The Benson Corporation during 2024 and 2025, its first two years of operations. Provide services to customers on account for $33,800. June 12, 2024 September 17, 2024...
-
4. Consider a partial cone T given by r + y < (2-2), 0 z < 1. Determine the volume of T by using the divergence theorem with SSSA divF dV = F.ndA F = [0,0,2] = zk Hint: The following procedure may be...
Study smarter with the SolutionInn App