Mazda 2012 Annual Report Download - page 48

8 IMPAIRMENT OF LONG-LIVED ASSETS
For the purpose of reviewing for impairment, assets are generally grouped by company; however, idle assets, assets
for rent and assets for selling are individually reviewed for impairment.
For the years ended March 31, 2012 and 2011, the Domestic Companies recognized an impairment loss of
¥763 million ($9,305 thousand) and ¥2,387 million, respectively, on idle assets.
In addition, for the year ended March 31, 2011, a consolidated foreign subsidiary in the United States reduced the
carrying value of its leased property held for use in production, resulting in an impairment loss of ¥1,029 million.
Furthermore, for the year ended March 31, 2012, the Company and a consolidated foreign subsidiary in the United
States reduced the value of its land and buildings for selling by ¥6,408 million ($78,146 thousand).
As a result, the total impairment loss that was recognized in the consolidated statement of operations for the years
ended March 31, 2012 and 2011 amounted to ¥7,171 million ($87,451 thousand) and ¥3,416 million, respectively.
9 SHORT-TERM DEBT AND LONG-TERM DEBT
Short-term debt as of March 31, 2012 and 2011 consisted of loans, principally from banks with interest averaging
0.94% and 1.42% for the respective years.
Long-term debt as of March 31, 2012 and 2011 consisted of the following:
Millions of yen
Thousands of
U.S. dollars
As of March 31 2012 2011 2012
Domestic unsecured bonds due serially 2012 through 2016
at rate of 0.56% to 1.87% per annum ¥ 95,750(*) ¥ 115,850 $ 1,167,683
Loans principally from banks, maturing through 2072:
Secured loans 103,495 63,146 1,262,134
Unsecured loans 500,987 410,278 6,109,597
Lease obligations, maturing through 2019 12,011 24,279 146,476
Sub total 712,243 613,553 8,685,890
Amount due within one year (94,241) (125,804) (1,149,280)
Total ¥618,002 ¥ 487,749 $ 7,536,610
(*) As of March 31, 2012, certain of these unsecured bonds amounting to ¥750 million ($9,146 thousand) are bank-guaranteed under the condition that assets
are pledged to the bank as collateral by the issuer of the bonds.
The annual interest rates applicable to long-term loans and lease obligations outstanding averaged 1.52% and
3.22%, respectively, for obligations due within one year and 1.86% and 2.31%, respectively, for obligations due after
one year at March 31, 2012.
The annual interest rates applicable to long-term loans and lease obligations outstanding averaged 1.42% and
3.23%, respectively, for obligations due within one year and 1.55% and 3.30%, respectively, for obligations due after
one year at March 31, 2011.
As is customary in Japan, general agreements with banks include provisions that security and guarantees will be
provided if requested by banks. Banks have the right to offset cash deposited with them against any debt or obligation
that becomes due and, in the case of default or certain other specified events, against all debts payable to banks.
The annual maturities of long-term debt at March 31, 2012 were as follows:
Year ending March 31 Millions of yen
Thousands of
U.S. dollars
2013 ¥ 94,241 $1,149,280
2014 103,691 1,264,524
2015 107,644 1,312,732
2016 83,740 1,021,220
2017 124,121 1,513,671
Thereafter 198,806 2,424,463
Total ¥712,243 $8,685,890
Notes to Consolidated Financial Statements
Mazda Annual Report 2012
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