Toyota 2006 Annual Report Download - page 106

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104
13. Short-term borrowings and long-term debt:
Short-term borrowings at March 31, 2005 and 2006 consist of the following:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2005 2006 2006
Loans, principally from banks, with a weighted-average interest
at March 31, 2005 and March 31, 2006 of 1.58% and of 2.20%
per annum, respectively .............................................................................................. ¥ 789,801 ¥986,128 $ 8,395
Commercial paper with a weighted-average interest
at March 31, 2005 and March 31, 2006 of 2.81% and of 3.32%
per annum, respectively .............................................................................................. 1,592,026 2,046,891 17,425
¥2,381,827 ¥3,033,019 $25,820
As of March 31, 2006, Toyota has unused short-term lines
of credit amounting to ¥2,427,218 million ($20,662 million)
of which ¥561,667 million ($4,781 million) related to
commercial paper programs. Under these programs, Toyota is
authorized to obtain short-term financing at prevailing inter-
est rates for periods not in excess of 360 days.
Dividends from affiliated companies accounted for by the
equity method for the years ended March 31, 2004, 2005 and
2006 were ¥15,722 million, ¥22,164 million and ¥30,011
million ($255 million), respectively.
Variable Interest Entities—
Toyota enters into securitization transactions with certain
special-purpose entities. However, substantially all securitiza-
tion transactions are with entities that are qualifying
special-purpose entities under FAS 140 and thus no material
variable interest entities (“VIEs”) relating to these securitiza-
tion transactions.
Certain joint ventures in which Toyota has invested are VIEs
for which Toyota is not the primary beneficiary. However, nei-
ther the aggregate size of these joint ventures nor Toyota’s
involvements in these entities are material to Toyota’s consoli-
dated financial statements.
Account balances and transactions with affiliated companies are presented below:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2005 2006 2006
Trade accounts and notes receivable, and other receivables ........................................... ¥179,519 ¥221,006 $1,881
Accounts payable and other payables............................................................................ 463,870 551,514 4,695
U.S. dollars
Yen in millions in millions
For the year ended
For the years ended March 31, March 31,
2004 2005 2006 2006
Net revenues ......................................................................................... ¥ 883,112 ¥1,150,523 ¥1,394,071 $11,867
Purchases .............................................................................................. 2,577,696 2,923,325 3,356,626 28,574