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Seiko Epson Annual Report 2006
62
The maturities of long-term debt outstanding as at March 31, 2006 were as follows:
Thousands of
Year ending March 31 Millions of yen U.S. dollars
2007 ¥113,731 $ 968,171
2008 87,500 744,871
2009 69,013 587,495
2010 5,346 45,510
2011 82,194 699,702
Thereafter 21,506 183,076
Total ¥379,290 $3,228,825
As at March 31, 2006, the Company had line of credit agreements with eleven banks for an aggregate maximum
amount of ¥80,000 million ($681,025 thousand). As at March 31, 2006, there were unused credit lines of ¥80,000
million ($681,025 thousand) outstanding and available.
9. Pension and severance costs:
The Company and its Japanese subsidiaries maintain corporate defined benefit pension plans and defined contri-
bution pension plans covering substantially all of their employees.
To supplement the corporate defined benefit pension plan, some of its Japanese subsidiaries maintain tax qualified
pension plans which are non-contributory defined benefit pension plans. These companies contribute amounts
required to maintain sufficient plan assets to provide for accrued benefits, subject to limitations on expense deduct-
ibility under Japanese income tax laws.
The funded status of retirement benefit obligations at March 31, 2005 and 2006 were as follows:
Thousands of
Millions of yen U.S. dollars
March 31 March 31,
2005 2006 2006
Projected benefit obligations ¥176,371 ¥202,922 $1,727,437
Plan assets at fair value 159,769 191,883 1,633,464
Unfunded status 16,602 11,039 93,973
Unrecognized items:
Prior service cost reduction from plan amendment 10,173 7,441 63,344
Actuarial gains (losses) (19,401) 7,208 61,360
Accrued pension and severance costs – net 7,374 25,688 218,677
Prepaid pension cost 7,461 5,709 48,600
Accrued pension and severance costs ¥ 14,835 ¥ 31,397 $ 267,277
The composition of net pension and severance costs for the years ended March 31, 2004, 2005 and 2006 were
as follows:
Thousands of
Millions of yen U.S. dollars
Year ended Year ended
March 31 March 31,
2004 2005 2006 2006
Service cost ¥ 9,352 ¥ 7,397 ¥ 7,889 $ 67,158
Interest cost 5,608 4,355 4,862 41,389
Expected return on plan assets (5,055) (4,728) (5,079) (43,237)
Amortization and expenses:
Prior service costs (529) (2,752) (2,733) (23,265)
Actuarial losses 9,537 8,849 8,382 71,354
Net pension and severance costs 18,913 13,121 13,321 113,399
Contribution to defined contribution pension plan – 2,067 2,976 25,334
¥18,913 ¥15,188 ¥16,297 $138,733