NOTE 8. Leases
NOTE 8. Leases
Operating Leases:
The General Services Administration (GSA) negotiates long-term office space leases and levies rent charges, paid by the USPTO, approximate to commercial rental rates. These operating lease agreements for the USPTO’s office buildings expire at various dates between FY 2007 and FY 2024. During the years ended September 30, 2006 and 2005, the USPTO paid $82,651 thousand and $95,613 thousand, respectively, to the GSA for rent.
Under existing commitments, the future minimum lease payments as September 30, 2006 are as follows:
| Fiscal Year | Minimum Payment |
|---|---|
| 2007 | $ 62,070 |
| 2008 | 58,724 |
| 2009 | 58,452 |
| 2010 | 58,237 |
| 2011 | 57,428 |
| Thereafter | 723,117 |
 |
|
| Total Future Minimum Lease Payments | $1,018,028 |
 |
|
The commitments shown above relate primarily to the operating lease for the USPTO headquarters in Alexandria, Virginia, beginning in FY 2004 and extending to FY 2024. The operating lease commitments for the USPTO offices in Crystal City, Virginia, will expire in FY 2007.
