Honda 2008 Annual Report Download - page 94

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A n n u a l R e p o r t 2 0 0 8
9 2
Obligations
The accumulated benefit obligations for all domestic defined benefit plans at March 31, 2007 and 2008 were ¥1,088,890 million
and ¥1,117,817 million ($11,157 million), respectively. The accumulated benefit obligations for all foreign defined benefit plans
at March 31, 2007 and 2008 were ¥340,527 million and ¥299,948 million ($2,994 million), respectively.
Cash flows
Honda expects to contribute ¥28,843 million to its domestic pension plans and ¥18,170 million to its foreign pension plans
in the year ending March 31, 2009. The Pension Protection Act of 2006 (PPA) is effective for plan years beginning after
December 31, 2007. Certain of the Company’s subsidiaries in the United States are unable to determine the amounts of
contribution for fiscal year 2009 because the procedures required by the PPA have not completed. The contribution amounts
to foreign pension plan described above do not include the contributions of these subsidiaries.
Estimated future benefit payment
The following table presents estimated future gross benefit payments:
Yen
(millions)
Years ending March 31: Japanese plans Foreign plans
2009 ¥ 42,942 ¥ 4,912
2010 45,492 5,716
2011 43,338 6,588
2012 45,073 7,782
2013 45,842 9,110
2014 – 2018 261,300 77,741
Certain of the Company’s subsidiaries in North America provide certain health care and life insurance benefits to retired
employees. Such benefits have no material effect on Honda’s financial position and results of operations.
14. Supplemental Disclosures of Cash Flow Information
Yen
(millions)
U.S. dollars
(millions)
(note 2)
2006 2007 2008 2008
Cash paid during the year for:
Interest ¥134,609 ¥187,268 ¥227,024 $2,266
Income taxes 282,986 351,225 301,286 3,007
During the fiscal year ended March 31, 2006, the Company reissued certain of its treasury stock at fair value of ¥802
million to a minority shareholder of its subsidiary, when the Company made the subsidiary a wholly owned subsidiary.
During the fiscal year ended March 31, 2006, the Company retired 11,000,000 shares of treasury stock at a cost of
¥66,224 million by offsetting it against capital surplus of ¥2 million and unappropriated retained earnings of ¥66,221 million, as
a result of the resolution of board of directors.
During the year ended March 31, 2007, the Company reissued certain of its treasury stock at fair value of ¥18,521 million to
the outside shareholder of affiliates to obtain 100% share of these companies.