Isuzu 2012 Annual Report Download - page 28

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Financial Section
i) Income Taxes
Income taxes are accounted for on an accrual basis. Deferred tax assets
and liabilities are recognized for the future tax consequences attributable
to differences between the financial statements carrying amounts of
existing assets and liabilities and their respective tax bases. Deferred
tax assets and liabilities are measured using enacted tax rates expected
to apply to taxable income in the years in which those temporary
differences are expected to be recovered or settled. The effect of change
in tax rate is recognized in income in the period of the change.
j) Net Income per Share
Net income per share of common stock is calculated based upon the
weighted average number of shares of common stock outstanding
during each year.
Basis for the calculation of net income per share at March 31, 2012 is
as follows:
Thousands of
Millions of yen U.S. dollars
Net Income ¥ 91,256 $ 1,110,316
Net income pertaining to common stock ¥ 91,256 $ 1,110,316
Average number of outstanding shares:
Common stock: 1,694,366,023
k) Appropriation of Retained Earnings
The appropriation of retained earnings is recorded in the fiscal year
in which such appropriation is approved by the board of directors or
shareholders.
l) Cash and Cash Equivalents
For the purpose of the consolidated statements of cash flows, the
Company considers all highly liquid investments with a maturity of three
months or less to be cash equivalents.
Reconciliation for cash and cash equivalents at end of the year on
the consolidated statements of cash flows for the year ended March 31,
2012 is as follows:
Thousands of
Millions of yen U.S. dollars
Cash and time deposits
on the consolidated balance sheets ¥ 160,492 $ 1,952,701
Time deposits with maturities
exceeding three months (1,454) (17,699)
Bonds with maturities within three months 1,627 19,802
Cash and cash equivalents
on the statements of cash flows ¥ 160,665 $ 1,954,803
m) Adoption of new accounting standard
Adoption of accounting standard for accounting changes and error
corrections etc.
The “Accounting Standard for Accounting Changes and Error
Corrections” (ASBJ Statement No. 24, December 4, 2009) and the
“Guidance on Accounting Standard for Accounting Changes and Error
Corrections” (ASBJ Guidance No. 24, December 4, 2009) applied for
accounting changes and corrections of prior period errors that were made
on or after the beginning of the current fiscal year.
2012
3. Securities
Fair value information of other securities as of March 31, 2012 and 2011 are as follows:
Proceeds from sales of securities classified as other securities
amounted to ¥52 million ($636 thousands) with an aggregate gain
on sales of ¥12 million ($146 thousands) and an aggregate loss on
Millions of yen Thousands of U.S. dollars
Acquisition Carrying Unrealized Acquisition Carrying Unrealized
costs value gain (loss) costs value gain (loss)
Unrealized gain:
Stocks:
Total
Unrealized loss:
Stocks:
Total
$ 152,893
$ 152,893
$ (9,074)
$ (9,074)
$ 443,572
$ 443,572
$ 57,024
$ 57,024
$ 290,679
$ 290,679
$ 66,098
$ 66,098
¥ 12,566
¥ 12,566
¥ (745)
¥ (745)
¥ 36,457
¥ 36,457
¥ 4,686
¥ 4,686
¥ 23,890
¥ 23,890
¥ 5,432
¥ 5,432
2011
Millions of yen
Acquisition Carrying Unrealized
costs value gain (loss)
Unrealized gain:
Stocks:
Total
Unrealized loss:
Stocks:
Total
¥ 6,364
¥ 6,364
¥ (1,177)
¥ (1,177)
¥ 13,236
¥ 13,236
¥ 5,084
¥ 5,084
¥ 6,871
¥ 6,871
¥ 6,262
¥ 6,262
sales of ¥0 million ($1 thousands) for the year ended March 31, 2012.
Non-marketable securities classified as other securities at March
31, 2012 amounted to ¥1,745 million ($21,238 thousands).