Fujitsu 2013 Annual Report Download - page 117

(o) Accrued retirement benefits and prepaid pension cost
The Company and the majority of the consolidated subsidiaries have retirement benefit plans.
Under the significant defined benefit plans, the actuarial valuation used to determine the pension costs is the projected unit
credit method.
(Changes in the Presentation for the Consolidated Financial Statements for the year ended March 31, 2013)
“Prepaid pension cost” is presented as a line item in the consolidated financial statements for the year ended March 31, 2013 as the balance
of prepaid pension cost as of March 31, 2013 has exceeded 5% of total assets, whereas it was included in the “Others” under “Investments and
other non-current assets” in the consolidated financial statements for the year ended March 31, 2012. The following reclassifications to the
prior year’s consolidated balance sheet and related footnote amounts have been made to conform to the presentation for the current year:
“Others” of ¥164,630 million ($1,751,383 thousand) under “Investments and other non-current assets” have been reclassified to
“Prepaid pension cost” of ¥62,138 million ($661,043 thousand) and “Others” of ¥102,492 million ($1,090,340 thousand) in the consoli-
dated balance sheets for the year ended March 31, 2012.
Furthermore, in conjunction with the increase in financial importance of figures of “Provision for restructuring charges,” the provision
for extra retirement benefits stemming from restructuring in Japan, which in the year ended March 31, 2012 had been included in the
“Accrued retirement benefits,” in the amount of ¥2,892 million ($30,766 thousand) under “Long-term liabilities,” is reclassified to
“ Provision for restructuring charges” under “Current liabilities” in the consolidated financial statements for the year ended March 31, 2013.
(p) Provision for loss on repurchase of computers
Certain computers manufactured by the Group are sold to Japan Electronic Computer Co., Ltd. (“JECC”) and other leasing companies for
leasing to ultimate users under contracts which require the Group to repurchase the computers if they are returned by the users after a
certain period. Based on past experience, an estimated amount for the loss arising from such repurchases is provided at the point of
sales and is charged to income.
(q) Provision for recycling expenses
A provision for anticipated recycling expenses has been made based on the regime for PC recycling enforced in Japan to prepare for
recycling expenses incurred upon collection of consumer PCs sold.
(r) Provision for restructuring charges
Provision for restructuring charges is the estimated amount of losses on personnel rationalization and disposal of business.
(Changes in the Presentation for the Consolidated Financial Statements for the year ended March 31, 2013)
“Provision for restructuring charges” is presented as a line item in the consolidated financial statements for the year ended March 31,
2013 due to its materiality, whereas it was included in “Others” under both “Current liabilities” and “Long-term liabilities” in the consoli-
dated financial statements for the year ended March 31, 2012. In addition, in conjunction with this change, the provision for extra retire-
ment benefits stemming from restructuring in Japan, which in the previous fiscal year had been included in the “Accrued retirement
benefits,” in the amount of ¥2,892 million ($30,766 thousand) under “Long-term liabilities,” is reclassified to “Provision for restructuring
charges” under “Current liabilities.” Furthermore, the following reclassification to the prior year’s consolidated balance sheet and related
footnote amounts have been made to conform to the presentation for the current year:
“Others” of ¥251,405 million ($2,674,521 thousand) under “Current liabilities,” “Accrued retirement benefits” of ¥180,491 million
($1,920,117 thousand) and “Others” of ¥49,525 million ($526,862 thousand) under “Long-term liabilities” have been reclassified to
“Provision for restructuring charges” of ¥9,685 million ($103,032 thousand) and “Others” of ¥244,612 million ($2,602,255 thousand)
under “Current liabilities,” as well as “Accrued retirement benefits” of ¥177,599 million ($1,889,351 thousand), “Provision for restructur-
ing charges” of ¥1,271 million ($13,521 thousand) and “Others” of ¥48,254 million ($513,340 thousand) under “Long-term liabilities” in
the consolidated balance sheets for the year ended March 31, 2012.
(s) Income taxes
The Group has mainly adopted the asset and liability method of tax effect accounting in order to recognize income tax effect of all tem-
porary differences in the recognition of assets and liabilities for tax and financial reporting purposes.
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FUJITSU LIMITED ANNUAL REPORT 2013
FACTS & FIGURES