Isuzu 2013 Annual Report Download - page 28

26 Isuzu Motors Limited
Financial Section
to differences between the financial statements carrying amounts of
existing assets and liabilities and their respective tax bases. Deferred
tax assets and liabilities are measured using enacted tax rates expected
to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled. The effect of change
in tax rate is recognized in income in the period of the change.
j) Net Income per Share
Net income per share of common stock is calculated based upon the
weighted average number of shares of common stock outstanding
during each year.
Basis for the calculation of net income per share at March 31, 2013 is
as follows:
Thousands of
Millions of yen U.S. dollars
Net Income ¥ 96,537 $ 1,026,444
Net income pertaining to common stock
Average number of outstanding shares: ¥ 96,537 $ 1,026,444
Common stock: 1,694,304,196
k) Appropriation of Retained Earnings
The appropriation of retained earnings is recorded in the fiscal year
in which such appropriation is approved by the board of directors or
shareholders.
l) Cash and Cash Equivalents
For the purpose of the consolidated statements of cash flows, the
Company considers all highly liquid investments with a maturity of three
months or less to be cash equivalents.
Reconciliation for cash and cash equivalents at end of the year on
the consolidated statements of cash flows for the year ended March 31,
2013 is as follows:
Thousands of
Millions of yen U.S. dollars
Cash and time deposits
on the consolidated balance sheets ¥ 184,764 $ 1,964,531
Time deposits with maturities
exceeding three months (6,885) (73,207)
Bonds with maturities within three months — —
Cash and cash equivalents
on the statements of cash flows ¥ ¥177,879 $ 1,891,324
m) Adoption of new accounting standard
Changes in accounting policies which are difficult to distinguish from
changes in accounting estimates
At the beginning of the current fiscal year, domestic consolidated
subsidiaries changed the method of depreciation for property, plant
and equipment acquired on or after April 1, 2012 based on the revised
corporate tax law.
The effects of these changes on the consolidated financial state-
ments for the fiscal year ended March 31, 2013 were not material.
n) Unapplied Accounting Standards, etc.
Accounting Standard for Retirement Benefits (Accounting Standards
Board of Japan (ASBJ) Statement No.26 of May 17, 2012), and
Guidance on Accounting Standard for Retirement Benefits (ASBJ
Guidance No.25 of May 17, 2012)
(1) Outline
Under the revised accounting standard, actuarial gains and
losses and past service costs shall be recognized within net assets
on the consolidated balance after adjusting for tax effects, and
the accumulated deficit or surplus shall be recognized as a liability
or asset. The revised accounting standard allows the use of the
benefit formula in addition to the straight-line attribution method.
Additionally, the method of calculating the discount rate has been
revised.
(2) Scheduled date of adoption
These revised accounting standards shall be adopted at the end
of the fiscal year beginning on or after April 1, 2013, except for the
requirement regarding the method of attributing expected retirement
benefits to periods, which shall be adopted at the beginning of the
fiscal year beginning on or after April 1, 2014.
(3) Impact of adoption of the revised accounting standard
The impact on the consolidated financial statements as result of
the adoption of the revised accounting standard is currently being
evaluated.
2013
3. Securities
Fair value information of other securities as of March 31, 2013 and 2012 are as follows:
Millions of yen Thousands of U.S. dollars
Acquisition Carrying Unrealized Acquisition Carrying Unrealized
costs value gain (loss) costs value gain (loss)
Unrealized gain:
Stocks:
Total
Unrealized loss:
Stocks:
Total
$ 170,555
$ 170,555
$ (2,105)
$ (2,105)
$ 489,007
$ 489,007
$ 26,744
$ 26,744
$ 318,452
$ 318,452
$ 28,850
$ 28,850
¥ 16,040
¥ 16,040
¥ (198)
¥ (198)
¥ 45,991
¥ 45,991
¥ 2,515
¥ 2,515
¥ 29,950
¥ 29,950
¥ 2,713
¥ 2,713