370 



Smithsonian institution 



Report of the Chief Financial Officer 



SMITHSONIAN INSTITUTION 



Notes to Financial Statements 



September 30, 2000 



($ millions) 



(14) Business Activities 



A summary of business activities revenue and expenses for fiscal year 2000 is as follows: 



Smithsonian Business Ventures 



Magazines 



Museum shops and mail order 



Smithsonian Catalogue Books and Recordings 



Concessions, licensing and other 



The Smithsonian Associates 



Air and Space Theater & Einstein Planetarium 



All other 



Total business activities 



Revenue 



Expenses 



Net 



70.7 



57.4 



13.3 



71.2 



68.3 



2.9 



2.2 



2.0 



0.2 



9.2 



6.0 



3.2 



153.3 



133.7 



19.6 



33.8 



35,0 



(1.2) 



4.6 



3.1 



1.5 



27.5 



27.7 



(0.2) 



219.2 



199.5 



19.7 



(15) Commitments and Contingencies 



(a) Leasing Activities 



The Smithsonian leases office and warehouse space under long-term operating leases expiring at 

 various dates to 2008. These leases generally provide for rent escalations for increases in 

 property taxes or operating expenses attributable to the leased properties or based on increases in 

 the Consumer Price Index. The Smithsonian has the authority to enter into leases for up to 

 30 years using federal funds. 



Annual minimum lease payments due under operating leases in effect at September 30, 2000, are 

 summarized as follows: 



2001 

 2002 

 2003 

 2004 

 2005 

 Thereafter 



10.1 

 8.0 

 o 8 

 5.4 

 3.5 

 3.3 



$ 37.1 



Rental expense under operating leases totaled $1 7.3 for fiscal year 2000. 



