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O LYMPUS 20 05 43
15. CASH FLO W FRO M ACQ UISITIO N O F CO NSO LIDATED SUBSIDIARIES
Details of assets and liabilities when ITX corpo ration and its subsidiaries (ITX) were consolidated, acquisition cost o f share, and proceeds
from acquisition o f ITX were as follows:
Thousands of
Millions of yen U.S. dollars
Notes and accounts receivable.......................................................................................................... ¥31,441 ¥285,827
Inventories..................................................................................................................................... 10,60 6 96,41 8
Other current assets......................................................................................................................... 37,850 34 4 ,091
Consolidated adjustment accounts...................................................................................................... 33,359 3 03,264
Investment securities ........................................................................................................................ 15,511 1 41,009
Other non-current assets................................................................................................................... 15,615 14 1 ,955
Notes and accounts payable............................................................................................................. (29,4 51) (267,7 36)
Short-term borrowings...................................................................................................................... (25,346) (230 ,418)
Other current liabilities .................................................................................................................... (11,6 56) (105 ,964)
Long-term debt, less current maturities................................................................................................. (39,1 54) (355 ,945)
Other non-current liabilities............................................................................................................... (11,3 22) (102 ,927)
Mino rity interests ............................................................................................................................ (2,4 87) (22,6 09)
Sub-total........................................................................................................................................ 24,966 2 26,964
Consolidated adjustment accounts...................................................................................................... 14,419 131,082
Minority interests ............................................................................................................................ (10 ,212) (92,836)
Total equity method until consolidation................................................................................................ (8,905) (80 ,955)
Sub-total: acquisition cost of ITX ........................................................................................................ 20,268 1 84,255
Cash and cash equivalents owned by ITX............................................................................................ 32,72 8 297,52 7
Proceeds from acquisition of ITX........................................................................................................ 12,460 113,273
16. INFO RMATIO N FOR CERTAIN LEASE TRANSACTIO NS
LESSEE:
The Company and its consolidated subsidiaries lease certain machinery and equipment under the non-cancelable finance and o perating leases.
Finance leases that do not transfer o wnership to lessees are not capitalized and are accounted for in the same manner as operating leases.
Certain information for such no n-capitalized finance leases for the year ended March 31 , 2 005 and 2004 was as follows:
Thousands of
Millions of yen U.S. dollars
2005 2004 2005
(Equivalent amount)
Acquisition cost...................................................................................................... ¥ 9,578 ¥ 8,234 $ 87,073
Accumulated depreciation ........................................................................................ (4,960) (4,0 99) (45 ,091)
Estimated net book value.......................................................................................... ¥ 4,61 8 ¥ 4,135 $ 41,982
Thousands of
Millions of yen U.S. dollars
2005 2004 2005
(Accrued lease payments)
Lease payments ...................................................................................................... ¥2,099 ¥2,120 $1 9,082
Equivalent of depreciation expense ............................................................................ 1,951 1 ,959 17,7 36
Equivalent of interest expense ................................................................................... 142 162 1,291
Equivalent of depreciation expense is computed using the straight-line method over the lease terms assuming no residual value. Equivalent
of interest expense is computed using the interest rate method over the lease terms fo r the difference between acquisition cost and total lease
payments.