Hitachi 2009 Annual Report Download - page 62

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Mainly due to a large decline in global demand for automobiles in the Automotive Industry reporting units within the Power
and Industrial Systems division, operating profits and cash flows were lower than expected. Based on that trend, the earnings
forecast for the next three years was revised, and as such, the Company recorded a pre-tax goodwill impairment loss of
¥23,240 million ($237,143 thousand) during the year ended March 31, 2009. The fair value of that reporting unit was estimated
using the present value of expected future cash flows and quoted market prices. Impairment losses are included in selling,
general and administrative expenses in the consolidated statements of operations.
9. INCOME TAXES
Components of income (loss) before income taxes and minority interests, and income taxes attributable to continuing operations
are as follows:
Millions of yen
2009
Domestic Foreign Total
Income (loss) before income taxes and minority interests . . . . . . . . . . . . . . . . . ¥(315,032) ¥25,161 ¥(289,871)
Income taxes:
Current tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75,612 25,669 101,281
Deferred tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 401,928 2,040 403,968
¥ 477,540 ¥27,709 ¥ 505,249
Thousands of U.S. dollars
2009
Domestic Foreign Total
Income (loss) before income taxes and minority interests . . . . . . . . . . . . . . . . . $(3,214,612) $256,745 $(2,957,867)
Income taxes:
Current tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 771,551 261,929 1,033,480
Deferred tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,101,306 20,816 4,122,122
$ 4,872,857 $282,745 $ 5,155,602
Millions of yen
2008
Domestic Foreign Total
Income before income taxes and minority interests . . . . . . . . . . . . . . . . . . . . . ¥257,084 ¥67,698 ¥324,782
Income taxes:
Current tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140,262 47,314 187,576
Deferred tax expense (benefit) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88,720 (4,133) 84,587
¥228,982 ¥43,181 ¥272,163
Millions of yen
2007
Domestic Foreign Total
Income (loss) before income taxes and minority interests . . . . . . . . . . . . . . . . . ¥218,136 ¥(15,798) ¥202,338
Income taxes:
Current tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108,962 33,338 142,300
Deferred tax expense (benefit) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,735 (8,221) 20,514
¥137,697 ¥ 25,117 ¥162,814
60 Hitachi, Ltd.
Annual Report 2009