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The following tables summarize fair value information as of March 31, 2011 and 2010 of derivative transactions
for which hedge accounting has been applied:
Millions of yen Thousands of U.S. dollars
As of March 31, 2011
Contract
amount
Thereof due
after 1 year
Estimated
fair value
Contract
amount
Thereof due
after 1 year
Estimated
fair value
Interest rate swaps:
On long-term loans payable:
Where certain hedging criteria are met (*1)
¥  41,400  ¥38,900  ¥       —  $   498,795  $468,675  $           —
Forward foreign exchange contracts:
Sell:
U.S. dollar 46,424  — 53  559,325  — 639 
Euro 44,107  — (1,580) 531,410  — (19,036)
Canadian dollar 16,812  — (627) 202,554  — (7,554)
Australian dollar 45,763  — (2,760) 551,361  — (33,253)
Sterling pound 12,807  — (151) 154,301  — (1,819)
Swiss Franc 1,688  — (33) 20,337  — (398)
Buy:
U.S. dollar 3,114  — (49) 37,518  — (590)
Thai baht 20,138  — 401  242,627  — 4,831 
¥232,253  ¥38,900  ¥(4,746) $2,798,229  $468,675  $   (57,181)
Millions of yen
As of March 31, 2010
Contract
amount
Thereof due
after 1 year
Estimated
fair value
Interest rate swaps:
On long-term loans payable:
Where certain hedging criteria
are not met ¥ 20,000 ¥ — ¥ (74)
Where certain hedging criteria are met (*1)
40,495 38,400 —
Forward foreign exchange contracts:
Sell:
U.S. dollar 66,944 — (1,078)
Euro 28,707 — 1,245
Canadian dollar 31,587 — (1,606)
Australian dollar 58,545 — (2,195)
Sterling pound 9,112 — 318
Buy:
Thai baht 17,523 — 956
¥272,913 ¥38,400 ¥(2,434)
(*1) The fair value of these interest rate swaps are, in effect, included in and presented with that of the hedged item long-term loans payable.
For details, refer to Note 4, “Financial Instruments.”
16 LEASES
The present values of future minimum lease payments under operating leases as of March 31, 2011 and 2010 were
as follows:
Millions of yen
Thousands of
U.S. dollars
Operating leases
As of March 31 2011 2010 2011
Current portion ¥  3,618 ¥ 2,464 $  43,590 
Non-current portion 12,551 11,678 151,217
¥16,169 ¥14,142 $194,807 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
70 Mazda Annual Report 201 1