Mitsubishi 2000 Annual Report Download - page 52

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Notes to consolidated financial statements
50
and was recorded as an extraordinary loss for the year ended March 31, 2000. The effect of this change in method of
accounting was to increase operating loss by ¥741 million ($6,981 thousand) and loss before income taxes by ¥4,508
million ($42,468 thousand).
e. Until the year ended March 31, 1999, certain expenses related to the consolidated finance subsidiaries had been
charged to depreciation expense and others in selling, general and administrative expenses as well as interest expense.
Effective April 1, 1999, depreciation expense of ¥39,839 million ($375,309 thousand), rental expense of ¥11,225 mil-
lion ($105,747 thousand) and interest expense of 17,088 ($160,980 thousand) in consolidated finance subsidiaries
have been charged to cost of sales in order to achieve a more accurate presentation of operating results due to the sep-
arate segmentation of the financial services in the segment information in Note 13. In this connection, depreciation ex-
pense and others in selling, general and administrative expenses of ¥57,752 million and interest expenses of ¥23,796
million reported for the year ended March 31, 1999 were reclassified to cost of sales.
3. U.S. dollar amounts
The U.S. dollar amounts in the accompanying consolidated financial statements are included, solely for convenience, at
¥106.15 = U.S.$1.00, the exchange rate prevailing on March 31, 2000. The translation should not be construed as a rep-
resentation that the yen amounts represent or have been, or could be, converted into U.S. dollars at that or any other rate.
4. Accounts and loans receivable sold to others
The outstanding balances of notes and accounts receivable sold to others without recourse which have been deducted
from the respective accounts amounted to ¥47,793 million ($450,240 thousand) and ¥32,583million as of March 31, 2000
and 1999, respectively. Such amounts as deducted from short-term and long-term loans receivable were ¥226,400million
($2,132,831 thousand) and ¥202,816million as of March 31, 2000 and 1999, respectively.
5. Inventories
Inventories at March 31, 2000 and 1999 consisted of the following:
6. Property, plant and equipment
Property, plant and equipment at March 31, 2000 and 1999 consisted of the following:
March 31,
2000 1999 2000
(In millions of yen) (In thousands of
U.S. dollars)
Finished products ¥ 225,239 ¥ 254,648 $ 2,121,894
Raw materials 27,046 25,261 254,790
Work in process 89,157 100,786 839,915
¥ 341,443 ¥ 380,696 $ 3,216,609
March 31,
2000 1999 2000
(In millions of yen) (In thousands of
U.S. dollars)
Land 412,405 406,133 3,885,115
Buildings and structures 507,035 507,749 4,776,590
Machinery and equipment 1,658,419 1,684,322 15,623,354
Construction in progress 31,294 50,262 294,809
2,609,154 2,648,468 24,579,878
Accumulated depreciation (1,389,868) (1,336,164) (13,093,434)
Property, plant and equipment, net 1,219,286 1,312,303 11,486,444