Hello, I believe that with Operating Leases the MLP(minimum lease payment) is recognized as rental xp and no asset or liability is classified on the B/S. I believe that Operating Leases are suppose to be classified as Capital Leases most of the time because this is non cancelable debt. When you classify and OL as a CL you take the PV of MLP over the lease term and add the result to the asset and debt. The problem is that the notes dont give enough information in regards to the term and the interest rate and there are numerous leases piled together with as I suspect different terms and interest rates. How do you figure the amount of debt when dealing with converting an OL to a CL? Any more information needed please let me know thank you