Bridgestone 2002 Annual Report Download - page 49

Download and view the complete annual report

Please find page 49 of the 2002 Bridgestone annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 57

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57

47
Millions of yen
2002 2001
Net income Shareholders’ equity Net income (loss) Shareholders’ equity
Amounts reported in the consolidated
financial statements under Japanese GAAP ¥45,379 ¥796,013 ¥17,389 ¥835,144
Adjustments—income (loss) before income taxes
and minority interests:
(a) Employers’ accounting for pensions 3,586 (57,360) 3,138 (15,274)
(b) Business combinations 316 (2,343) 434 (2,659)
(c) Functional currency in highly inflationary economies (1,489) 2,440 (1,965) 3,383
(d) Amortization/impairment of goodwill (See the following note.) (7,700) 31,668 (41,934) 42,506
(e) Impairment of long-lived assets 1,684 8,269 260 6,585
(f) Derivative instruments and hedging activities 1,848 (1,130) 458 539
(g) Other adjustments 2,576 719 (879) (2,369)
Income taxes—deferred (2,887) 19,986 (1,534) 3,662
Minority interests 22 542 15 549
Effects of U.S. GAAP adjustments (2,044) 2,791 (42,007) 36,922
Amounts determined in accordance with
U.S. GAAP (see the following note) ¥43,335 ¥798,804 ¥(24,618) ¥872,066
Thousands of U.S. dollars
2002
Net income Shareholders’ equity
Amounts reported in the consolidated
financial statements under Japanese GAAP $378,474 $ 6,638,974
Adjustments—income (loss) before income taxes
and minority interests:
(a) Employers’ accounting for pensions 29,908 (478,399)
(b) Business combinations 2,635 (19,541)
(c) Functional currency in highly inflationary economies (12,419) 20,350
(d) Amortization/impairment of goodwill (See the following note.) (64,220) 264,120
(e) Impairment of long-lived assets 14,045 68,966
(f) Derivative instruments and hedging activities 15,413 (9,424)
(g) Other adjustments 21,485 5,997
Income taxes—deferred (24,078) 166,689
Minority interests 183 4,520
Effects of U.S. GAAP adjustments (17,048) 23,278
Amounts determined in accordance with
U.S. GAAP (see the following note) $361,426 $ 6,662,252
The consolidated financial statements of the Companies have been prepared in accordance with Japanese GAAP, which differs from U.S.
GAAP in certain material respects.
The following table sets forth the reconciliation to U.S. GAAP net income (loss) for the years ended December 31, 2002 and 2001 and
shareholders’ equity at December 31, 2002 and 2001.
NOTE 18—SUMMARY OF CERTAIN SIGNIFICANT DIFFERENCES BETWEEN JAPANESE GAAP AND U.S. GAAP
Note:
The net income for the year ended December 31, 2001 is reconciled to a loss of ¥24,618 million in accordance with U.S. GAAP, pri-
marily caused by the impairment loss of goodwill by ¥38,682 million, while, under Japanese GAAP, the goodwill had already been
amortized fully in 1997. Therefore, no adjustment related to the impairment of goodwill is required to shareholders’ equity for the rec-
onciliation purpose to U.S. GAAP.