Mazda 2013 Annual Report Download - page 48

Download and view the complete annual report

Please find page 48 of the 2013 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.

Page out of 60

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60

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, 2013 and 2012, the Domestic Companies recognized an impairment loss of
¥2,795 million ($29,734 thousand) and ¥763 million, respectively, on idle assets.
In addition, 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.
As a result, the total impairment loss that was recognized in the consolidated statement of operations for the
years ended March 31, 2013 and 2012 amounted to ¥2,795 million ($29,734 thousand) and ¥7,171 million, respectively.
9 SHORT-TERM DEBT AND LONG-T ERM DEBT
Short-term debt as of March 31, 2013 and 2012 consisted of loans, principally from banks with interest averaging
1.04% and 0.94% for the respective years.
Long-term debt as of March 31, 2013 and 2012 consisted of the following:
Millions of yen
Thousands of
U.S. dollars
As of March 31 2013 2012 2013
Domestic unsecured bonds due serially 2013 through 2016
at rate of 0.56% to 1.87% per annum ¥ 50,650(*) ¥ 95,750 $ 538,830
Loans principally from banks, maturing through 2072:
Secured loans 93,605 103,495 995,798
Unsecured loans 471,028 500,987 5,010,935
Lease obligations, maturing through 2020 5,867 12,011 62,415
Sub total 621,150 712,243 6,607,978
Amount due within one year (104,270) (94,241) (1,109,255)
Total ¥ 516,880 ¥618,002 $ 5,498,723
(*) As of March 31, 2013, certain of these unsecured bonds amounting to ¥650 million ($6,915 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 1.62% and
2.26%, respectively, for obligations due within one year and 1.91% and 2.17%, respectively, for obligations due after
one year at March 31, 2013.
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.
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, 2013 were as follows:
Year ending March 31 Millions of yen
Thousands of
U.S. dollars
2014 ¥104,270 $1,109,255
2015 108,229 1,151,372
2016 84,546 899,426
2017 125,245 1,332,394
2018 69,317 737,415
Thereafter 129,543 1,378,116
Total ¥621,150 $6,607,978
Notes to Consolidated Financial Statements
Mazda Annual Report 2013
46