Mazda 2008 Annual Report Download - page 83

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Millions of yen
Contract Estimated Unrealized
As of March 31, 2007 amount fair value gain (loss)
Forward foreign exchange contracts:
Sell:
U.S. dollars ¥32,051 ¥31,980 ¥ 71
Canadian dollars 2,384 2,404 (20)
Australian dollars 2,393 2,518 (125)
Euros 20,420 21,097 (677)
Sterling pounds 5,402 5,475 (73)
Swiss Francs 291 291 —
Buy:
Thai baht 8,595 9,314 719
Australian dollars 3,671 3,661 (10)
¥75,207 ¥76,740 ¥(115)
For foreign exchange forward contracts, fair values at year-end are estimated based on prevailing forward
exchange rates at that date.
16. LEASES
As discussed in the earlier section of accounting changes, commencing in the year ended March 31, 2008, the
Domestic Companies adopted early the new accounting standard for leases to recognize leased property and lease
obligations on the balance sheet. Since the prior year financial statements are not restated for comparison, prior year
information on non-capitalized finance leases are presented in the following.
As lessee, the equivalents of the acquisition costs, accumulated depreciation and net book values of finance
leases accounted for as operating leases as of March 31, 2007 were as follows:
Millions of yen
As of March 31 2007
Acquisition costs for machinery, tools and equipment ¥72,040
Accumulated depreciation 36,782
Net book value ¥35,258
Lease payments under non-capitalized finance leases amounted to ¥13,866 million and ¥14,514 million for the
years ended March 31, 2007 and 2006, respectively.
The equivalents of the related depreciation and interest expenses amounted to ¥12,651 million and ¥1,105 million
for the ended March 31, 2007, ¥12,878 million and ¥1,248 million for the year ended March 31, 2006 respectively.
The present values of future minimum lease payments under non-capitalized finance leases and future minimum
lease payments under operating leases as of March 31, 2008 and 2007 were as follows:
Thousands of
Millions of yen Millions of yen U.S. dollars
Finance leases Operating leases
As of March 31 2007 2008 2007 2008
Current portion ¥12,455 ¥ 3,443 ¥ 2,748 $ 34,430
Non-current portion 23,941 16,072 8,833 160,720
¥36,396 ¥19,515 ¥11,581 $195,150
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