Olympus 2012 Annual Report Download - page 78

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(As of March 31, 2011) Millions of yen
Carrying
value
Estimated
fair value Difference
Assets
1) Cash and deposits ............................................................................................................................................... ¥ 213,561 ¥ 213,561 ¥ —
2) Notes and accounts receivable ............................................................................................................................. 141,176 141,176 —
3) Investment securities ........................................................................................................................................... 51,879 51,879 —
Total Assets ............................................................................................................................................................ ¥ 406,616 ¥ 406,616 ¥ —
Liabilities
1) Notes and accounts payable ................................................................................................................................ ¥ 68,715 ¥ 68,715 ¥ —
2) Short-term borrowings ......................................................................................................................................... 64,094 64,094 —
3) Bonds, including current maturities ....................................................................................................................... 110,360 111,750 1,390
4) Long-term borrowings, including current maturities ............................................................................................... 474,333 479,666 5,333
Total Liabilities ........................................................................................................................................................ ¥ 717,502 ¥ 724,225 ¥ 6,723
Derivatives* ................................................................................................................................................................ ¥ (82) ¥ (82) ¥ —
(As of March 31, 2012) Thousands of U.S. dollars
Carrying
value
Estimated
fair value Difference
Assets
1) Cash and deposits ............................................................................................................................................... $ 2,501,100 $ 2,501,100 $ —
2) Notes and accounts receivable ............................................................................................................................. 1,882,425 1,882,425 —
3) Investment securities ........................................................................................................................................... 572,138 572,138 —
Total Assets ............................................................................................................................................................ $ 4,955,663 $ 4,955,663 $ —
Liabilities
1) Notes and accounts payable ................................................................................................................................ $ 941,625 $ 941,625 $ —
2) Short-term borrowings ......................................................................................................................................... 788,650 788,650 —
3) Bonds, including current maturities ....................................................................................................................... 1,376,500 1,249,313 (127,187)
4) Long-term borrowings, including current maturities ............................................................................................... 5,865,175 5,193,600 (671,575)
Total Liabilities ........................................................................................................................................................ $ 8,971,950 $ 8,173,188 $ (798,762)
Derivatives* ................................................................................................................................................................ $ (24,025) $ (24,025) $ —
*The value of assets and liabilities arising from derivatives is shown at net value, and with the amount in parentheses representing net liability position.
Notes:
1) Methods to determine the estimated fair value of financial instruments and other matters related to securities and derivative transactions
Cash and deposits and Notes and accounts receivable
Since these items are settled in a short period of time, their carrying value approximates fair value.
Investment securities
The fair value of stocks is based on quoted market prices. The fair value of debt securities and investment trust fund is based on either quoted market prices or prices provided by the
financial institutions making markets in these securities. For information on securities classified by holding purpose, please refer to Note 4 “Securities.”
Notes and accounts payable and Short-term borrowings
Since these items are settled in a short period of time, their carrying value approximates fair value.
Bonds
The fair value of bonds is based on the present value of the total of principal and interest discounted by an interest rate determined by taking into account the remaining period of
each bond and current credit risk.
Long-term borrowings
The fair value of long-term borrowings is based on the present value of the total of principal and interest discounted by the interest rate to be applied if similar new borrowings were
entered into.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
OLYMPUS 󱚈 Annual Report 2012
76