Isuzu 2014 Annual Report Download - page 31

29
Financial
Section
2013 2013
Service cost
Interest cost on projected benefit obligation
Expected return on plan assets
Amortization of actuarial net loss
Amortization of prior service cost
Net retirement benefit cost
Other
Total
2014 2013
Discount rates
Expected rates of return on plan assets
2013 2013
Retirement benefit obligation
at end of the year
Fair value of plan assets
Accrued retirement benefits
Prepaid pension cost
Net
(Details on net amount)
Unrecognized actuarial loss
Unrecognized prior service cost
Net
[Notes]
1. The government-sponsored portion of the benefits under the welfare pension fund plans
has been included in the amounts shown in the above table.
2. Certain subsidiaries apply the simplified method for the calculation of retirement benefits.
expensed the special contribution of 49 million yen ($477 thousands)
made in the current fiscal year in the current consolidated financial
statements.
The rate, indicated above, is not equal to the actual percentage of
contributions the Company and its subsidiaries have made to the
multi-employer plan.
6. Income Taxes
Accrued income taxes in the balance sheets include corporation tax,
inhabitant tax and enterprise tax.
The significant components of the Company and its consolidated
subsidiaries’ deferred tax assets and liabilities as of March 31, 2014 and
2013 are as follows:
Thousands of
Millions of yen U.S. dollars
2014 2013 2014
Deferred tax assets:
Accrued retirement benefits
Net defined benefit liability
Loss on write-down of
investments in subsidiaries and
allowance for doubtful accounts
Accrued expenses
Accrued bonus
Loss on inventory write down
Loss carry-forward
Unrealized profit eliminated
in consolidation etc.
Others
Total gross deferred tax assets
Valuation allowance
Total deferred tax assets
Deferred tax liabilities:
Reserve for reduction entry
of fixed assets
Unrealized holding gain on securities
Others
Total deferred tax liabilities
Net deferred tax assets
Deferred tax liabilities:
Reserve for reduction entry
of fixed assets
Unrealized holding gain on securities
Others
Net deferred tax liabilities
—
¥ 32,398
12,766
11,0 8 4
5,981
1,158
4,934
16,684
13,006
¥ 98,015
(34,992)
¥ 63,022
(310)
(5,757)
(1,184)
¥ (7,252)
¥ 55,770
(900)
(140)
(2, 811)
¥ (3,852)
¥ 22,992
—
12,272
7,037
5,404
1,212
7,394
12,519
19,341
¥ 88,175
(36,365)
¥ 51,810
（ 31）
（4,409）
（955）
¥ （5,396）
¥ 46,413
(1,215)
(79)
(707)
¥ (2,002)
—
$ 314,790
124,044
107,697
58 ,116
11,253
47,947
162,114
126,378
$ 952,343
(339,996)
$ 612,346
(3,015)
(55,938)
(11,513)
$ (70,467)
$ 541,879
(8,745)
(1,366)
(27,320)
$ (37,432)
(2) Retirement benefit cost for the years ended March 31 is as follows:
(3) Actuarial assumptions used to determine costs and obligations for
retirement benefits
Thousands of
Millions of yen U.S. dollars
¥ 7,32 2
2,807
(1,323)
4,808
(56)
¥ 13,557
211
¥ 13,768
$ 77, 8 49
29,846
(14,070)
51,123
(604)
$ 144,143
2,248
$ 146,392
2014 2014
The ratio of contributions of the Company and its consolidated subsidiaries
in the total contributions of multi-employer pension plan
11.2%
3. Retirement benefit plan as of March 31, 2013 accounted for with
the legacy policy are follows;
(1) Retirement benefit obligation as of March 31, 2013
Thousands of
Millions of yen U.S. dollars
¥ (150,442)
53,633
68,769
(1,265)
¥ (29,304)
¥ (29,077)
¥ (226)
¥ (29,304)
$ (1,599,599)
570,270
731,196
(13,456)
$ (311,587)
$ (309,175)
$ (2,412)
$ (311,587)
Amortization periods of
prior service cost
Amortization periods of
actuarial net loss (gain)
Amortization periods of net obligation arising
from accounting changes
1.0-2.5%
1.3-2.5%
1-10 years
(Straight line method)
10-19 years
(Straight line or Declining balance method)
1 year