Mazda 2011 Annual Report Download - page 67
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Please find page 67 of the 2011 Mazda annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.The assets pledged as collateral for short-term debt of ¥35,809 million ($431,434 thousand) and ¥34,389 million
and long-term debt of ¥63,996 million ($771,036 thousand) and ¥68,820 million at March 31, 2011 and 2010, respec-
tively, were as follows:
Millions of yen
Thousands of
U.S. dollars
As of March 31 2011 2010 2011
Property, plant and equipment, at net book value ¥411,384 ¥431,020 $4,956,434
Other 333 36
¥411,387 ¥431,053 $4,956,470
10 EMPLOYEES’ SEVERANCE AND RETIREMENT BENEFITS
The liabilities for severance and retirement benefits as of March 31, 2011 and 2010 consisted of the following:
Millions of yen
Thousands of
U.S. dollars
As of March 31 2011 2010 2011
Projected benefit obligation ¥ 277,155 ¥ 289,069 $ 3,339,217
Unrecognized prior service costs 14,954 17,152 180,169
Unrecognized actuarial differences (42,864) (53,833) (516,434)
Less fair value of pension assets (176,076) (172,610) (2,121,398)
Prepaid pension cost 5,115 4,775 61,627
Liability for severance and retirement benefits ¥ 78,284 ¥ 84,553 $ 943,181
Severance and retirement benefit expenses for the years ended March 31, 2011 and 2010 consisted of the fol-
lowing:
Millions of yen
Thousands of
U.S. dollars
For the years ended March 31 2011 2010 2011
Service costs—benefits earned during the year ¥10,773 ¥11,344 $129,795
Interest cost on projected benefit obligation 6,381 6,518 76,880
Expected return on plan assets (3,379) (2,962) (40,711)
Amortization of prior service costs (2,244) (2,423) (27,036)
Amortization of actuarial differences 8,287 10,156 99,843
Severance and retirement benefit expenses ¥19,818 ¥22,633 $238,771
For both the years ended March 31, 2011 and 2010, the discount rates and the rates of expected return on plan
assets were primarily 2.1% and 1.5%, respectively.
For both the years ended March 31, 2011 and 2010, the estimated amount of all retirement benefits to be paid at
the future retirement dates is allocated equally to each service year using the estimated number of total service
years.
For the years ended March 31, 2011 and 2010, accrued pension costs related to defined contribution plans
amounted to ¥2,249 million ($27,096 thousand) and ¥1,940 million, respectively.
1 1 CONTINGENT LIABILITIES
Contingent liabilities as of March 31, 2011 and 2010 were as follows:
Millions of yen
Thousands of
U.S. dollars
As of March 31 2011 2010 2011
Factoring of receivables with recourse ¥ 170 ¥ 340 $ 2,048
Guarantees of loans and similar agreements 17,795 11,854 214,398
Mazda Annual Report 201 1 65