6. Investment in Operating Leases

Investment in operating leases at March 31, 2010 and 2011 consists of the following:


	Millions of yen						Millions of U.S. dollars
	2010			2011			2011
Transportation equipment	¥	580,009		¥	624,958		$	7,516
Measuring and information-related equipment		170,047			176,304			2,120
Real estate		826,398			836,953			10,066
Other		19,267			19,152			230

		1,595,721			1,657,367			19,932
Accumulated depreciation		(399,747	)		(402,697	)		(4,843	)

Net		1,195,974			1,254,670			15,089
Accrued rental receivables		17,249			15,625			188

	¥	1,213,223		¥	1,270,295		$	15,277

Gains and losses from the disposition of real estate under operating leases are disclosed separately as gains on sales of real estate under operating leases or income from discontinued operations, net in the accompanying consolidated statements of income.

For fiscal 2009, 2010 and 2011, gains on sales of operating lease assets other than real estate are ¥11,426 million, ¥7,552 million and ¥9,968 million ($120 million), respectively, and are included in operating lease revenues.

Costs of operating leases include depreciation and various expenses (insurance, property tax and other). Depreciation and various expenses for fiscal 2009, 2010 and 2011 are as follows:


	Millions of yen						Millions of U.S. dollars
	2009		2010		2011		2011
Depreciation expenses	¥	140,431	¥	138,165	¥	135,712	$	1,632
Various expenses		52,506		53,008		52,959		637

	¥	192,937	¥	191,173	¥	188,671	$	2,269

The operating lease contracts include non-cancelable lease terms that range up to 20 years. The minimum future rentals on non-cancelable operating leases are as follows:


Years ending March 31,	Millions of yen		Millions of U.S. dollars
2012	¥	144,758	$	1,741
2013		95,032		1,143
2014		63,187		760
2015		40,238		484
2016		24,628		296
Thereafter		55,180		663

Total	¥	423,023	$	5,087