Mazda 2013 Annual Report Download - page 49

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The assets pledged as collateral for short-term debt of ¥36,631 million ($389,691 thousand) and ¥37,103 million,
and long-term debt of ¥94,255 million ($1,002,713 thousand) and ¥104,245 million at March 31, 2013 and 2012,
respectively, were as follows:
Millions of yen
Thousands of
U.S. dollars
As of March 31 2013 2012 2013
Property, plant and equipment, at net book value ¥406,154 ¥409,461 $4,320,787
Inventories 72,538 37,264 771,681
Other 91,150 28,926 969,681
Total ¥569,842 ¥475,651 $6,062,149
10 EMPLOYEES’ SEVERANCE AND RETIREMENT BENEFITS
The liabilities for severance and retirement benefits 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
Projected benefit obligation ¥ 300,322 ¥ 287,761 $ 3,194,915
Unrecognized prior service costs 9,400 11,935 100,000
Unrecognized actuarial differences (30,620) (43,324) (325,745)
Less fair value of plan assets (210,382) (182,870) (2,238,106)
Prepaid pension cost 1,070 2,648 11,383
Liability for severance and retirement benefits ¥ 69,790 ¥ 76,150 $ 742,447
Severance and retirement benefit expenses for the years ended March 31, 2013 and 2012 consisted of the
following:
Millions of yen
Thousands of
U.S. dollars
For the years ended March 31 2013 2012 2013
Service costs—benefits earned during the year ¥10,530 ¥10,475 $112,021
Interest cost on projected benefit obligation 5,477 6,147 58,266
Expected return on plan assets (3,517) (3,372) (37,415)
Amortization of prior service costs (2,570) (1,664) (27,340)
Amortization of actuarial differences 8,798 8,057 93,596
Severance and retirement benefit expenses ¥18,718 ¥19,643 $199,128
For the years ended March 31, 2013 and 2012, the discount rates were primarily 1.4% and 1.8%, respectively.
For both the years ended March 31, 2013 and 2012, the rate of expected return on plan assets was primarily 1.5%.
For both the years ended March 31, 2013 and 2012, 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, 2013 and 2012, accrued pension costs related to defined contribution plans were
charged to income as ¥2,332 million ($24,809 thousand) and ¥2,315 million, respectively.
1 1 CONTINGENT LIABILITIES
Contingent liabilities as of March 31, 2013 and 2012 were as follows:
Millions of yen
Thousands of
U.S. dollars
As of March 31 2013 2012 2013
Guarantees of loans and similar agreements ¥18,110 ¥19,175 $192,660
Mazda Annual Report 2013 47