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Financial Section
TOYOTA MOTOR CORPORATION
78
Vehicles and equipment on operating leases consist of the following:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2008 2009 2009
Vehicles ............................................................................................................................................... ¥2,814,706 ¥2,729,713 $27,789
Equipment .......................................................................................................................................... 107,619 107,168 1,091
2,922,325 2,836,881 28,880
Less—Accumulated depreciation .................................................................................................... (718,207) (795,767) (8,101)
Vehicles and equipment on operating leases, net ..................................................................... ¥2,204,118 ¥2,041,114 $20,779
U.S. dollars
Years ending March 31, Yen in millions in millions
2010................................................................................................................................................................................... ¥459,110 $4,674
2011................................................................................................................................................................................... 302,990 3,084
2012................................................................................................................................................................................... 130,948 1,333
2013................................................................................................................................................................................... 37,294 380
2014................................................................................................................................................................................... 8,262 84
Thereafter ......................................................................................................................................................................... 7,265 74
Total minimum future rentals ...................................................................................................................................... ¥945,869 $9,629
The future minimum rentals as shown above should not be considered indicative of future cash collections.
Rental income from vehicles and equipment on operating leases was ¥508,095 million, ¥588,262 million and ¥560,251 million ($5,703
million) for the years ended March 31, 2007, 2008 and 2009, respectively. Future minimum rentals from vehicles and equipment on oper-
ating leases are due in installments as follows:
An analysis of activity within the allowance for doubtful accounts relating to trade accounts and notes receivable for the years ended
March 31, 2007, 2008 and 2009 is as follows:
U.S. dollars
Yen in millions in millions
For the year ended
For the years ended March 31, March 31,
2007 2008 2009 2009
Allowance for doubtful accounts at beginning of year .................................................... ¥62,088 ¥58,066 ¥52,063 $530
Provision for doubtful accounts, net of reversal ................................................................ (841) 357 (1,663) (17)
Write-offs .............................................................................................................................. (3,154) (3,348) (1,695) (17)
Other..................................................................................................................................... (27) (3,012) (699) (7)
Allowance for doubtful accounts at end of year ....................................................... ¥58,066 ¥52,063 ¥48,006 $489
Vehicles and equipment on operating leases:
10
Allowance for doubtful accounts and credit losses:
11
The other amount includes the impact of consolidation and
deconsolidation of certain entities due to changes in ownership
interest and currency translation adjustments for the years
ended March 31, 2007, 2008 and 2009.
A portion of the allowance for doubtful accounts balance at
March 31, 2008 and 2009 totaling ¥34,592 million and ¥32,972
million ($336 million), respectively, is attributed to certain non-
current receivable balances which are reported as other assets
in the consolidated balance sheets.
An analysis of the allowance for credit losses relating to finance receivables and vehicles and equipment on operating leases for the
years ended March 31, 2007, 2008 and 2009 is as follows:
U.S. dollars
Yen in millions in millions
For the year ended
For the years ended March 31, March 31,
2007 2008 2009 2009
Allowance for credit losses at beginning of year .............................................................. ¥101,383 ¥112,116 ¥ 117,706 $ 1,198
Provision for credit losses ................................................................................................... 72,703 122,433 259,096 2,638
Charge-offs, net of recoveries ............................................................................................ (63,879) (88,902) (116,793) (1,189)
Other..................................................................................................................................... 1,909 (27,941) (21,077) (215)
Allowance for credit losses at end of year ................................................................. ¥112,116 ¥117,706 ¥ 238,932 $ 2,432