Epson 2008 Annual Report Download - page 28

50 Seiko Epson Corporation
51Annual Report 2008
Thousands of
Millions of yen U.S. dollars
March 31 March 31,
ASSETS 2007 2008 2008
Current assets:
Cash and cash equivalents ¥ 334,873 ¥ — $ —
Time deposits 2,222 — —
Notes and accounts receivable, trade 218,988 — —
Inventories 178,623 — —
Deferred income taxes 33,235 — —
Other current assets 48,991 — —
Allowance for doubtful accounts (3,658) — —
Cash and deposits — 171,970 1,716,448
Notes and accounts receivable, trade — 187,775 1,874,191
Short-term investments — 137,079 1,368,195
Inventories — 161,357 1,610,514
Deferred income taxes — 29,239 291,843
Other current assets — 52,854 527,546
Allowance for doubtful accounts — (3,032) (30,270)
Total current assets 813,274 737,245 7,358,469
Property, plant and equipment:
Buildings and structures 443,713 435,868 4,350,416
Machinery and equipment 560,587 536,915 5,358,969
Furniture and fixtures 207,930 196,487 1,961,149
Land 63,384 61,434 613,181
Construction in progress 5,804 5,541 55,308
Other 222 208 2,077
1,281,640 1,236,455 12,341,102
Accumulated depreciation (902,608) (893,193) (8,914,994)
379,032 343,261 3,426,108
Intangible assets — 20,660 206,214
Investments and other assets:
Investment securities 45,739 — —
Investments in affiliates 2,443 — —
Deferred income taxes 6,451 — —
Intangible assets 24,895 — —
Other assets 12,925 — —
Allowance for doubtful accounts (347) — —
Investment securities — 20,419 203,804
Long-term loans receivable — 63 630
Deferred income taxes — 5,132 51,229
Other assets — 12,560 125,367
Allowance for doubtful accounts — (178) (1,777)
92,106 37,997 379,255
Total fixed assets — 401,919 4,011,577
Total assets ¥1,284,412 ¥1,139,165 $11,370,047
The accompanying notes are an integral part of these financial statements.
Thousands of
Millions of yen U.S. dollars
March 31 March 31,
LIABILITIES 2007 2008 2008
Current liabilities:
Notes and accounts payable, trade ¥ 118,815 ¥ 100,453 $ 1,002,630
Short-term borrowings 37,498 25,283 252,353
Current portion of long-term debt 96,364 73,047 729,087
Accounts payable, other 107,969 82,436 822,801
Income taxes payable 7,578 10,086 100,675
Deferred income taxes 359 289 2,892
Accrued bonuses 16,950 20,285 202,471
Accrued bonuses to directors and statutory auditors — 154 1,544
Accrued warranty costs 12,726 11,240 112,189
Accrued litigation and related expenses 4,816 300 3,000
Other current liabilities 73,050 61,545 614,284
Total current liabilities 476,125 385,123 3,843,929
Long-term liabilities:
Long-term debt 270,046 — —
Accrued pension and severance costs 25,556 — —
Accrued recycle costs 738 — —
Accrued warranty costs 1,496 — —
Accrued litigation and related expenses 826 — —
Deferred income taxes 1,978 — —
Other long-term liabilities 13,312 — —
Bonds — 100,000 998,103
Long-term debt — 143,871 1,435,987
Deferred income taxes — 7,488 74,745
Accrued pension and severance costs — 14,532 145,046
Accrued recycle costs — 948 9,468
Accrued warranty costs — 830 8,284
Accrued litigation and related expenses — 2,955 29,494
Negative goodwill — 2,877 28,717
Other long-term liabilities — 9,091 90,747
Total long-term liabilities 313,952 282,595 2,820,595
Total liabilities — 667,718 6,664,525
EQUITY
Common stock
Authorized — 607,458,368 shares,
Issued — 196,364,592 shares 53,204 — —
Additional paid-in capital 79,501 — —
Retained earnings 313,946 — —
Treasury stock, at cost
2007 — 1,595 shares (6) — —
Net unrealized gains on other securities 9,821 — —
Net unrealized losses on derivative instruments (35) — —
Translation adjustments 13,886 — —
Minority interests in subsidiaries 24,018 — —
Total equity 494,335 — —
NET ASSETS
Shareholders’ equity:
Common stock
Authorized — 607,458,368 shares,
Issued — 196,364,592 shares — 53,204 531,031
Additional paid-in capital — 79,500 793,501
Retained earnings — 326,719 3,260,998
Treasury stock, at cost
2008 — 2,251 shares — (7) (73)
Total shareholders’ equity — 459,417 4,585,457
Valuation, translation differences and other:
Net unrealized gains on other securities — 3,859 38,521
Net unrealized gains on derivative instruments — 156 1,563
Translation adjustments — (16,227) (161,969)
Total valuation, translation differences and other — (12,211) (121,885)
Minority interests in subsidiaries — 24,240 241,949
Total net assets — 471,446 4,705,522
Total liabilities and equity ¥1,284,412 — —
Total liabilities and net assets — ¥1,139,165 $11,370,047
The accompanying notes are an integral part of these financial statements.
Consolidated Balance Sheets
Seiko Epson Corporation and Subsidiaries