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107
Hitachi, Ltd. Annual Report 2010
Millions of yen Thousands of U.S. dollars
2010 2009 2010
Carrying
amounts
Estimated
fair values
Carrying
amounts
Estimated
fair values
Carrying
amounts
Estimated
fair values
Long-term debt . . . . . . . . . . . . . . . ¥(1,915,692) ¥(1,954,713) ¥(1,821,287) ¥(1,801,249) $(20,598,839) $(21,018,419)
Derivatives (Effective Portion in
Other Current Liabilities):
Forward exchange contracts . . . (3,480) (3,480) (4,669) (4,669) (37,419) (37,419)
Cross currency swap
agreements . . . . . . . . . . . . . . . (488) (488) (142) (142) (5,247) (5,247)
Interest rate swaps . . . . . . . . . . . (701) (701) (379) (379) (7,538) (7,538)
Option contracts . . . . . . . . . . . . (6 ) (6) (37) (37) (64) (64)
Derivatives (Ineffective Portion in
Other Current Liabilities):
Forward exchange contracts . . . (721) (721) (619) (619) (7,753) (7,753)
Cross currency swap
agreements . . . . . . . . . . . . . . . – – (345) (345) – –
Interest rate swaps . . . . . . . . . . . (142) (142) (466) (466) (1,527) (1,527)
Option contracts . . . . . . . . . . . . – – – – – –
Derivatives (Effective Portion
in Other Liabilities):
Forward exchange contracts . . . (103) (103) (66) (66) (1,107) (1,107)
Cross currency swap
agreements . . . . . . . . . . . . . . . (228) (228) (4,842) (4,842) (2,452) (2,452)
Interest rate swaps . . . . . . . . . . . (4,076) (4,076) (3,135) (3,135) (43,828) (43,828)
Option contracts . . . . . . . . . . . . – – (5) (5) – –
Derivatives (Ineffective Portion
in Other Liabilities):
Forward exchange contracts . . . – – – – – –
Cross currency swap
agreements . . . . . . . . . . . . . . . (5,148) (5,148) (2) (2) (55,355) (55,355)
Interest rate swaps . . . . . . . . . . . (42) (42) (840) (840) (452) (452)
Option contracts . . . . . . . . . . . . – – – – – –
It is not practicable to estimate the fair value of investments in unlisted stock because of the lack of a market price and difficulty
in estimating fair value without incurring excessive cost. The carrying amounts of these investments as of March 31, 2010
and 2009 totaled ¥48,222 million ($518,516 thousand) and ¥53,325 million, respectively.
29. FAIR VALUE
ASC 820 establishes a fair value hierarchy that prioritizes the use of observable inputs in markets over the use of unobservable
inputs when measuring fair value as follows:
Level 1
Quoted prices for identical assets or liabilities in active markets.
Level 2
Quoted prices for similar assets or liabilities in active markets; quoted prices associated with transactions that are not distressed
for identical or similar assets or liabilities in markets that are not active; or valuations whose significant inputs are derived from
or corroborated by observable market data.