Suzuki 2002 Annual Report Download - page 26

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SUZUKI MOTOR CORPORATION
24
(i)Accrued retirement & severance benefits
In order to allow for payment of employees' retirement benefits, based on estimated amount of retirement
benefits liabilities and pension assets at the end of this fiscal year, the allowable amount which occur at the
end of this term is appropriated.
The accrued retirement & severance benefits as of March 31, 2002 represents the estimated present value
of projected benefit obligations in excess of the fair value of the plan assets except that, as permitted under the
current standard, the unrecognized transition amount arising from adopting the current standard of 53,896
million yen at April 1, 2000 (the beginning of previous fiscal year) is amortized on a straight-line basis over
5 years. Prior service cost is being amortized by the straight-line method over periods of mainly 15 years,
which are the estimated average remaining service years of the employees. Actuarial gain and loss are
amortized by the straight-line method over periods of mainly 15 years from the next year of the arising, which
are the estimated average remaining service years of the employees.
In order to allow for payment of directors' retirement benefits, the amount payable accrued at the balance
sheet date based on the internal rule concerning payment of directors' retirement benefits is appropriated.
(j)Revenue recognition
Sales of products are generally recognized in the accounts as delivery is made.
(k)Amounts per share
Primary net income per share is computed based on the weighted average number of shares issued during
the respective years.
Fully diluted net income per share is computed assuming that all convertible bonds at the beginning of the
year were converted into common stock, with an applicable adjustment for related interest expense and net of
tax.
Cash dividends per share are the amounts applicable to the respective periods including dividends to be
paid after the end of the period.
(l)Cash and cash equivalents
All highly liquid investments with original maturities of three months or less when purchased are
considered cash and cash equivalents.
(m)Reclassification
Certain reclassifications of previously reported amounts have been made to conform with current
classifications.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
3.Inventories
Inventories as of March 31, 2002 and 2001 were as follows:
Finished products.............................................................. ¥203,707 ¥191,642 $1,528,763
Work in process ................................................................ 14,411 15,773 108,154
Raw materials and others.................................................. 12,594 15,374 94,518
¥230,713 ¥222,791 $1,731,435
Thousands of
U.S. dollars
Millions of yen
2002 2001 2002