Brother International 2014 Annual Report Download - page 55

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54
Thousands of U.S. Dollars
March 31, 2014 Due in One Year
or Less
Due after One Year
through Five Years
Due after Five Years
through 10 Years Due after 10 Years
Cash and cash equivalents $ 669,272 — — —
Marketable securities 29,301 — — —
Receivables 859,185 — — —
Investment securities:
Available-for-securities with contractual maturities — $ 118,019 $ 32,000 $ 5,000
Total $ 1,557,758 $ 118,019 $ 32,000 $ 5,000
Please see Note 8 for annual maturities of long-term debt.
17. Derivatives
The Group enters into foreign currency forward contracts and currency option contracts to hedge foreign exchange risk associated with certain assets and liabilities
denominated in foreign currencies. The Group also enters into interest rate swap contracts to manage its interest rate exposures on certain liabilities.
All derivative transactions are entered into to hedge foreign currency exposures incorporated within the Group’s business. Accordingly, market risk in these derivatives
is basically offset by opposite movements in the value of hedged assets or liabilities.
Because the counterparties to these derivatives are limited to major international financial institutions with high credit ratings, the Group does not anticipate any losses
arising from credit risk.
Derivative transactions entered into by the Group have been made in accordance with internal policies which regulate the authorization and credit limit amount.
The contract or notional amounts of derivatives which are shown in the following table do not represent the amounts exchanged by the parties and do not measure
the Group’s exposure to credit or market risk.
Brother Industries, Ltd. and Consolidated Subsidiaries
Year ended March 31, 2014
Notes to Consolidated Financial Statements