Notes to Consolidated Financial Statements Fair value of derivative financial instruments Lessors Lessees At March 31, 2000, future minimum lease payments to be received within one year under non-cancelable operating leases were ¥198 million ($1,868 thousand). At March 31, 2000, unearned finance income was ¥73,456 million ($692,981 thousand). At March 31, 2000, the accumulated allowance for uncollectible minimum lease payments receivable was ¥432 million ($4,075 thousand). The following is a summary of minimum lease payments receivable, present value, unearned finance income, and accumulated allowance for uncollectible minimum lease payments receivable, under finance leases operated by Fujitsu Leasing Co., Ltd. at March 31, 2000. Since Fujitsu Leasing Co., Ltd. was not a consolidated subsidiary but an affiliate during the year ended March 31, 1999, the Group, as a lessor, had no finance leases for the year ended March 31, 1999. Estimate of fair value Fair value of the forward exchange contracts have been based on quoted market rates at March 31, 1999 and 2000. Fair value of the interest rate and currency swap contracts and the options contracts have been valued by the discounted cash flow analysis method. Estimates of fair value were performed as of March 31, 1999 and 2000 based on various assumptions. Accordingly, the Group believes that the estimated fair value may be of limited usefulness. The estimated fair value of the forward foreign exchange contracts at March 31, 1999 and 2000 were as follows: Yen U.S. Dollars (millions) (thousands) 1999 2000 2000 Forward foreign exchange contracts ¥(104) ¥584 $5,509 The carrying amounts and estimated fair value of the interest rate and currency swap contracts and option contracts at March 31, 1999 and 2000 were as follows: Yen (millions) U.S. Dollars (thousands) 1999 2000 2000 Carrying Estimated Carrying Estimated Carrying Estimated amount fair value amount fair value amount fair value Interest rate and currency swap contracts ¥ — ¥(3,132) ¥ — ¥252 $ — $2,377 Options contracts: Purchased 991 1,104 171 122 1,613 1,151 Written 1,016 1,200 145 107 1,368 1,009 15. Leases 40 Yen U.S. Dollars (millions) (thousands) 2000 2000 Minimum lease payments receivable Within one year ¥ 75,723 $ 714,368 Over one year but within five years 147,827 1,394,594 Over five years 3,745 35,330 Total ¥227,295 $2,144,292 The present value of minimum lease payments receivable Within one year ¥ 52,232 $ 492,755 Over one year but within five years 99,096 934,868 Over five years 2,511 23,688 Total ¥153,839 $1,451,311 Yen U.S. Dollars (millions) (thousands) 2000 2000 Equivalent amounts of acquisition costs ¥120,407 $1,135,915 Accumulated depreciation 54,894 517,868 Book value of leased assets 65,513 618,047 Minimum leases payments required Within one year ¥ 18,680 $ 176,227 Over one year but within five years 53,305 502,877 Over five years 14,714 138,814 Total ¥ 86,699 $ 817,915 The following is a summary of equivalent amounts of acquisition costs, accumulated depreciation, book value of leased assets, and minimum lease payments required under finance leases at March 31, 2000.