Nissan 2007 Annual Report Download - page 60

»FINANCIAL SECTION
Nissan Annual Report 2006-2007
58
The following table set forth the acquisition costs and related accumulated amortization of assets recorded under finance leases included in the
above balances:
Thousands of
Millions of yen U.S. dollars
2006 2005 2006
As of Mar. 31, 2007 Mar. 31, 2006 Mar. 31, 2007
Buildings and structures................................................................................................................................................................... ¥ 16,346 ¥ 15,570 $ 138,525
Machinery and equipment............................................................................................................................................................... 275,258 322,391 2,332,695
............................................................................................................................................................................................................................... 291,604 337,961 2,471,220
Accumulated amortization............................................................................................................................................................... (160,851) (187,405) (1,363,144)
............................................................................................................................................................................................................................... ¥130,753 ¥150,556 $1,108,076
Depreciation and amortization of property, plant and equipment for each of the three years in the period ended March 31, 2007 was as follows:
Thousands of
Millions of yen U.S. dollars
2006 2005 2004 2006
For the years ended Mar. 31, 2007 Mar. 31, 2006 Mar. 31, 2005 Mar. 31, 2007
Depreciation and amortization................................................................................................................. ¥705,380 ¥635,344 ¥514,261 $5,977,797
The Company and certain domestic consolidated subsidiaries have recognized an impairment loss on idle assets and assets to be disposed of
due to a significant decline in their market value by reducing their net book value to the respective net realizable value of each asset. Such loss
amounted to ¥22,673 million ($192,144 thousand) for the year ended March 31, 2007 which consisted of losses on idle assets of ¥9,298
million ($78,797 thousand) (land — ¥6,907 million and building and structures—¥2,305 million, and machinery and equipment—¥86 million) and
losses on assets to be sold of ¥1,078 million ($9,136 thousand) (land—¥467 million and buildings and structures—¥611million), and losses of
¥12,297 million ($104,212 thousand) on assets disposed of (land—¥7,476 million and buildings and structures—¥4,821 million).
The impairment loss of ¥26,827 million for the year ended March 31, 2006 consisted of losses on idle assets of ¥19,190 million (land—
¥17,186 million, buildings—¥1,525 million and others—¥479 million) and losses on assets to be sold of ¥7,637 million (land—¥4,654 million,
buildings and structures—¥1,434 million, and others—¥1,549 million).
The net realizable value of the idle assets and those to be disposed of was based on their appraisal value and that of the assets to be sold was
estimated based on their respective sales contracts.
8. SHORT-TERM BORROWINGS AND LONG-TERM DEBT
At March 31, 2007 and 2006, short-term borrowings and the current portion of long-term debt consisted of the following:
Thousands of
Millions of yen U.S. dollars
2006 2005 2006
As of Mar. 31, 2007 Mar. 31, 2006 Mar. 31, 2007
Loans, principally from banks............................................................................................................................................. ¥1,056,319 ¥1,159,743 $ 8,951,856
Commercial paper........................................................................................................................................................................ 965,238 366,998 8,179,983
Current portion of long-term debt (excluding lease obligations).......................................................... 1,075,854 1,007,025 9,117,407
Current portion of lease obligations.............................................................................................................................. 50,421 58,523 427,296
..................................................................................................................................................................................................................... ¥3,147,832 ¥2,592,289 $26,676,542
7. NOTES AND ACCOUNTS PAYABLE
Notes and accounts payable at March 31, 2007 and 2006 consisted of the following:
Thousands of
Millions of yen U.S. dollars
2006 2005 2006
As of Mar. 31, 2007 Mar. 31, 2006 Mar. 31, 2007
Notes and accounts payable............................................................................................................................................... ¥1,103,186 ¥ 983,594 $ 9,349,034
Accrued expenses and other.............................................................................................................................................. 589,337 548,726 4,994,381
..................................................................................................................................................................................................................... ¥1,692,523 ¥1,532,320 $14,343,415