Brother International 2014 Annual Report Download - page 53

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52
Thousands of U.S. Dollars
March 31, 2014
Carrying
Amount Fair Value
Unrealized
Gain/(Loss)
Cash and cash equivalents $ 669,272 $ 669,272 —
Marketable securities 29,301 29,301 $ 0
Receivables 859,185 859,185 —
Investment securities 296,845 296,845 —
Total $ 1,854,603 $ 1,854,603 $ 0
Short-term borrowings $ 14,243 $ 14,243 —
Current portion of long-term debt 10,126 10,126 —
Payables 570,107 570,107 —
Income taxes payable 25,641 25,641 —
Long-term debt 144,437 144,417 $ (20)
Total $ 764,554 $ 764,534 $ (20)
Cash and cash equivalents
The carrying values of cash and cash equivalents approximate fair value because of their short maturities.
Marketable and investment securities
The fair values of marketable and investment securities are measured at the quoted market price of the stock exchange for the equity instruments, and at the quoted price
obtained from the financial institution for certain debt instruments.
The carrying values of investment trusts approximate fair value because of their short maturities.
The fair value information for the marketable and investment securities by classification is included in Note 4.
Receivables and payables
The carrying values of receivables and payables approximate fair value because of their short maturities.
Short-term borrowings and long- term debt
The carrying values of short-term borrowings approximate fair value because of their short maturities.
The fair values of long-term bank loans are determined by discounting the total balance of principal and interest at a rate which reflects the remaining term of the loan
and the Group’s credit risk.
Carrying amounts of lease obligations approximate fair value because neither the risk free rate nor the Group’s credit profile has changed significantly since the date of
lease inception.
Income taxes payable
The carrying values of income taxes payable approximate fair value because of their short maturities.
Brother Industries, Ltd. and Consolidated Subsidiaries
Year ended March 31, 2014
Notes to Consolidated Financial Statements