Mazda 2015 Annual Report Download - page 60

The following tables summarize fair value information as of March 31, 2015 and 2014
of derivative transactions for which hedge accounting has been applied:
Millions of yen Thousands of U.S. dollars
As of March 31, 2015
Contract
amount
Thereof due after
1 year
Estimated fair
value
Contract
amount
Thereof due after
1 year
Estimated fair
value
Interest rate swaps:
O n long-term
loans payable:
W here certain
hedging criteria
are met (*1) ¥17,900 ¥11,100 ¥ — $149,167 $92,500 $ —
F orward foreign
exchange contracts:
Sell:
U.S. dollar 1,200 — (0) 10,000 — (0)
Euro 31,082 — 467 259,017 — 3,892
Canadian dollar 14,782 — 122 123,183 — 1,017
Australian dollar 17,161 — 214 143,008 — 1,783
Sterling pound 2,311 — (3) 19,258 — (25)
Buy:
Thai baht 11,551 — 214 96,258 — 1,783
Total ¥95,987 ¥11,100 ¥1,014 $799,891 $92,500 $8,450
Millions of yen
As of March 31, 2014
Contract
amount
Thereof due after
1 year
Estimated fair
value
Interest rate swaps:
O n long-term loans
payable:
W here certain
hedging criteria
are met (*1)
¥ 23,500 ¥17,900 ¥ —
F orward foreign
exchange contracts:
Sell:
U.S. dollar
68,084 — (297)
Euro 39,616 — (706)
Canadian dollar 24,058 — 380
Australian dollar 37,540 — (1,190)
Sterling pound 15,722 — (354)
Russian ruble 6,207 — 163
Buy:
Thai baht
6,853 — 101
Total ¥221,580 ¥17,900 ¥(1,903)
(*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 amount of future minimum lease payments under non-cancellable operating leases as
of March 31, 2015 and 2014 were as follows:
Millions of yen
Thousands of
U.S. dollars
As of March 31 2015 2014 2015
Current portion ¥ 4,115 ¥ 3,748 $ 34,292
Non-current portion 34,898 33,599 290,817
Total ¥39,013 ¥37,347 $325,109
17 SEGMENT INFORMATION
Segment information
Overview of reportable segments
The reportable segments of the Company consist of business components for which sepa-
rate financial statements are available. The reportable segments are the subject of period-
ical review by Board of Directors meetings for the purpose of making decisions on the
distribution of corporate resources and evaluating business performance.
The Company is primarily engaged in the manufacture and sale of passenger and com-
mercial vehicles. Businesses in Japan are managed by the Company. Businesses in North
America are managed by Mazda Motor of America, Inc. and the Company. And businesses
in Europe are managed by Mazda Motor Europe GmbH and the Company. Areas other
than Japan, North America and Europe are defined as Other areas. Business deployment
in countries in Other areas are managed in an integrated manner by the Company as one
management unit. Accordingly, the Company consists of regional segments based on a
system of managing production and sale. As such, Japan, North America, Europe, and
Other areas are designated as four reportable segments.
As described in Note 3, “Changes in accounting policies”, effective from the year ended
March 31, 2015, the Company and its domestic subsidiaries, which are grouped in “Japan”
segment, have changed the determination of retirement benefit obligations and current ser-
vice costs. As a result of this change, segment income of “Japan” for the year ended March
31, 2015 increased by ¥630 million ($5,250 thousand), compared to the previous method.
Mazda Annual Report 2015
58
C
CONTENTS
Growth Strategy
Message from Management
Introduction
Review of Operations
Foundations Underpinning
Sustainable Growth