Bridgestone 2004 Annual Report Download - page 31

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29
Financial Section
severance benefits. It reflected a decline of ¥91.5 billion ($878 million) in interest-bearing long-term
debt.
The aggregate amount of interest-bearing debt recorded in current liabilities and in long-term
liabilities, including commercial paper and bonds, declined 2%, to ¥479.6 billion ($4,602 million)
at year-end.
Minority interests and shareholders’ equity
Minority interests declined 11%, to ¥32.4 billion ($311 million). That decline reflected the purchase
by the Company of shares of some subsidiaries from minority shareholders.
Shareholders’ equity increased 5%, to ¥935.0 billion ($8,972 million) at year-end. That increase
occurred despite expenditures of ¥67.9 billion ($651 million) for the purchase of treasury stock.
Retained earnings increased ¥97.6 billion ($936 million), reflecting the growth in net income, and
net unrealized gain on available-for-sale securities increased ¥18.1 billion ($174 million). Liabilities,
minority interests, and shareholders’ equity increased 5%, to ¥2,333.7 billion ($22,394 million) at
year-end.
The ratio of shareholders’ equity to total assets rose 0.1 percentage points, to 40.1% at year-end.
The ratio of debt to debt and shareholders’ equity declined to 0.34 at year-end, from 0.35 at the
previous year-end.
Debt to debt and equity ratio
(times)
FY 2004 2003 2002 2001 2000
0.34 0.35 0.37 0.48 0.40
Net return on shareholders’ equity rose 2.1 percentage points, to 12.6%. Net return on total assets
rose 0.9 percentage points, to 5.0%.
Net return on shareholders’ equity
(% of simple average of year-end shareholders’ equity)
FY 2004 2003 2002 2001 2000
12.6 10.5 5.6 2.2 2.3
Net return on assets
(% of simple average of year-end total assets)
FY 2004 2003 2002 2001 2000
5.0 4.1 2.0 0.8 0.9
Shareholders’ Equity Total Assets
2000 2001 2002 2003 2004
¥
billion
935.0
778.7
835.1 796.0
888.0
2000 2001 2002 2003 2004
¥
billion
2,333.7
2,038.6
2,443.8
2,143.9 2,220.6