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27
Isuzu Motors Limited Annual Report 2010
10. Lease Transactions
(1) Finance lease transactions, except for those which meet the condi-
tions that the ownership of the leased assets is substantially trans-
ferred to the lessee, are as follows.
a) As a lessee
i）Amounts equivalent to acquisition costs, accumulated deprecia-
tion and net balance as of March 31, 2010 and 2009 concerning the
finance lease assets :
Amounts equivalent to interest expenses are calculated by the interest
method based on an excess of the aggregate sum of lease payments
over amounts equivalent to acquisition costs.
(2) Operating lease is as follows.
a) As a lessee
Future payment obligations of operating lease expenses as of March
31, 2010 and 2009 are as follows:
11. Derivatives
Derivatives recognized in the consolidated financial statements for the fiscal year ended March 31, 2010 is as follows:
1. Derivative transactions for which hedge accounting is not applied
(1) Foreign exchange-related
Millions of Yen Thousands of U.S. dollars
Classification Type of derivative
transactions
Forward foreign
Non-market exchange contracts
transaction Buy
Japanese yen
U.S. dollar
Total
Contract
amount
2,322
3
2,326
Thousands of
Millions of yen U.S. dollars
2010 2009 2010
Acquisition Costs
Accumulated Depreciation
Net Balance
¥ 19,106
14,572
4,534
¥ 29,808
18,944
10,864
$ 205,356
156,625
48,731
ii) Future payment obligations of finance lease expenses as of March
31, 2010 and 2009 are as follows:
Thousands of
Millions of yen U.S. dollars
2010 2009 2010
Portion due within 1 year
Thereafter
Total
¥ 3,684
1,308
4,992
¥ 6,969
4,702
11,671
$ 39,597
14,064
53,662
Thousands of
Millions of yen U.S. dollars
2010 2009 2010
Portion due within 1 year
Thereafter
¥ 650
1,258
¥ 755
1,345
$ 6,993
13,522
Over 1 year
 
—
—
—
Fair value
(88)
(0)
(88)
Unrealized
gain (loss)
(88)
(0)
(88)
Contract
amount
24,967
33
25,000
Over 1 year
—
—
—
Fair value
 
(949)
(0)
(949)
Unrealized
gain (loss)
(949)
(0)
(949)
2. Derivative transactions for which hedge accounting is applied
(1) Foreign exchange-related
Millions of Yen Thousands of U.S. dollars
Hedge accounting Type of derivative Main hedge items
method transactions
Forward foreign
exchange contracts
Principal accounting Buy accounts payable
method Japanese yen
Sell
Australian dollar accounts receivable
Forward foreign Forward foreign
exchange contracts exchange contracts
under designated hedge Sell accounts receivable
accounting method U.S. dollar
Australian dollar
Total
Contract
amount
 
 
13,492
 
4,093
 
 
90
4,513
22,188
Over 1 year
 
—
—
—
—
—
Fair value
(375)
 
97
 
 
—
—
(278)
Contract
amount
145,013
 
43,991
 
 
967
48,509
238,483
Over 1 year
 
—
—
—
—
—
Fair value
(4,031)
 
1,043
 
 
—
—
(2,987)
Forward foreign exchange contracts under designated hedge accounting method are accounted for as an integral part of accounts receivable, the
hedge item, their fair values are included in the fair value of their underlying accounts receivable.