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02 TOSHIBA Annual Report 2012
Management's Discussion and Analysis
Five-year Summary
Toshiba Corporation and Subsidiaries
Years ended March 31
Millions of yen,
except per share amounts
2012 2011 2010 2009 2008
Net sales ¥ 6,100,262 ¥ 6,398,505 ¥ 6,291,208 ¥ 6,512,656 ¥ 7,404,284
Cost of sales 4,633,558 4,897,547 4,852,002 5,242,465 5,548,757
Selling, general and administrative expenses 1,260,055 1,260,685 1,313,958 1,503,599 1,615,171
Operating income (loss) (Note 1) 206,649 240,273 125,248 (233,408) 240,356
Income (loss) from continuing operations, before income
taxes and noncontrolling interests 152,405 195,549 34,413 (261,467) 258,056
Income taxes 64,964 40,720 33,534 61,562 110,529
Net income (loss) attributable to shareholders of the
Company 73,705 137,845 (19,743) (343,559) 127,413
Per share of common stock:
Earnings (loss) attributable to shareholders
of the Company (Note 2)
−Basic ¥ 17.40 ¥ 32.55 ¥ (4.93) ¥ (106.18) ¥ 39.46
−Diluted 17.17 31.25 (4.93) (106.18) 36.59
Cash dividends 8.00 5.00 − 5.00 12.00
Total assets ¥ 5,731,246 ¥ 5,379,319 ¥ 5,451,173 ¥ 5,453,225 ¥ 5,935,637
Equity attributable to shareholders of the Company 867,268 868,119 797,455 447,346 1,022,265
Capital expenditures (Property, plant and equipment) 299,096 231,001 209,380 355,516 464,497
Depreciation (Property, plant and equipment) 203,252 215,699 252,523 306,895 339,363
R&D expenditures 319,863 319,693 311,751 357,520 370,273
Number of employees 210,000 203,000 204,000 199,000 198,000
Notes: 1) Operating income (loss) is derived by deducting the cost of sales and selling, general and administrative expenses from net sales, and reported as a measurement of segment profit or loss.
This result is regularly reviewed to support decision-making in allocation of resources and to assess performance. Certain operating expenses such as restructuring charges and gains (losses) from
the sale or disposition of fixed assets are not included in it.
2) Basic earnings (loss) per share attributable to shareholders of the Company (EPS) are computed based on the weighted-average number of shares of common stock outstanding during each
period.
Diluted EPS assumes the dilution that could occur if convertible bonds were converted or stock acquisition rights were exercised to issue common stock, unless their inclusion would have an
antidilutive effect.
3) The Mobile Broadcasting business and the Mobile Phone business have been classified as discontinued operations in the consolidated accounts in accordance with Accounting Standards
Codification No.205-20, “Presentation of Financial Statements - Discontinued Operations”. Performance of these businesses is excluded from consolidated net sales, operating income (loss), and
income (loss) from continuing operations, before income taxes and noncontrolling interests.
4) Beginning with the fiscal year ended March 31, 2010, the Company adopted ASC No.810 “Consolidation”. Prior-period data for the fiscal years ended from March 31, 2008 through 2009 has been
reclassified to conform with the current classification.
2. Management's Discussion and Analysis 19. Consolidated Balance Sheets 21. Consolidated Statements of Income
22. Consolidated Statements of Equity 24. Consolidated Statements of Cash Flows
25. Notes to Consolidated Financial Statements 67. Report of Independent Auditors