Fujitsu 2012 Annual Report Download - page 125

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Yen
(millions)
At March 31, 2011
Carrying value in
consolidated
balance sheet Fair value Variance
Current liabilities
(1) Short-term borrowings and current
portion of long-term debt 225,554 225,554 —
(2)Lease obligation 24,470 24,470 —
(3)Payables, trade 604,264 604,264 —
(4)Accrued expenses 323,144 323,144 —
Long-term liabilities
(5)Long-term debt 245,269 252,083 6,814
(6)Lease obligation 26,775 26,983 208
Total liabilities 1,449,476 1,456,498 7,022
Derivative transactions*3
(i) Transactions which do not qualify for
hedge accounting [3,646] [3,646] —
(ii) Transactions which qualify for
hedge accounting 9 9 —
Total derivative transactions [3,637] [3,637] —
*1 It comprises the allowance for doubtful accounts in respect to Receivables, trade, short-term loan receivable and others.
*2 Unlisted securities classified in shares in affiliates or available-for-sale securities are defined as “Financial Instruments for which it is extremely difficult to deter-
mine the fair value,” because no market price is available and it is not possible to estimate the future cash flow in accordance with “Accounting Standard for
Financial Instruments”(Accounting Standards Board of Japan, Statement No. 10, dated March 10, 2008) and “Implementation Guidance on Disclosures about Fair
Value of Financial Instruments” (Accounting Standards Board of Japan Guidance No. 19, dated March 25, 2011). Accordingly unlisted securities are not included in
the “Investments and long-term loans” stated above. The carrying values of the stocks in the consolidated balance sheet as of March 31, 2011 and 2012 are
¥47,404 million and ¥46,598 million ($568,268 thousand), consisting of Affiliate: ¥18,799 million and ¥18,087 million ($220,573 thousand) and Others: ¥28,605
million and ¥28,511 million ($347,695 thousand) respectively.
*3 The net amount of the assets and liabilities is shown. If the net amount is a liability, it is written in parentheses [ ].
Calculation method relating to fair value of Financial Instruments
Current assets
(1) Cash and cash equivalents, (2) Short-term investments and (3) Receivables, trade
The fair value of these items approximates the carrying value due to the short maturity of these instruments.
Investments and long-term loans
(4) Affiliates and (5) Others
The fair value of securities is based on the market price on the stock exchanges, and fair value of bonds is based on quotes obtained from the financial institutions
or on the market price on the stock exchanges.
Current liabilities:
(1) Short-term borrowings and current portion of long-term debt, (2) Lease obligation, (3) Payables, trade and (4) Accrued expenses
The fair value of these items approximates the carrying value due to the short maturity of these instruments.
Long-term liabilities:
(5) Long-term debt and (6) Lease obligation
The fair value of bonds which have a market price is based on the market price. The fair value of bonds for which there is no market price is calculated by discount-
ing the sum of future principal and interest payments to the present value at a rate taking into account the remaining term and the credit risk of bonds.
The fair value of long-term debt and lease obligation is calculated by discounting the sum of future principal and interest payments to the present value at the rate
expected in another loan or lease transaction with the same conditions.
Impairment losses on investment securities
For the years ended March 31, 2011 and 2012
No significant losses were recorded.
Available-for-sale securities with fair value that has declined by 50% or more against their acquisition costs are generally booked as an impairment loss. Those that
have declined in a range of 30% or more but less than 50% are impaired if the decline is deemed to be irrecoverable. Available-for-sale securities with no available
fair value are generally impaired when issuers’ net assets in the balance sheet decrease to more than 50% below the acquisition cost due to a deterioration of
issuers’ financial conditions.
123
FUJITSU LIMITED ANNUAL REPORT 2012
Facts & Figures