JVC 2000 Annual Report Download - page 33

JVC 2000 31
Thousands of U.S. dollars
Contract Book Market Unrealized
March 31, 2000 amount value value gain (loss)
Option contracts:
Call:
To sell U.S. dollars............ $122,311 $462 $1,245 $(783)
To sell Euros..................... 20,311 151 94 57
Put:
To sell U.S. dollars............ 35,368 189 1,047 (858)
To sell Euros..................... 9,292 104 85 19
Call:
To buy U.S. dollars ........... 11,887 —104 104
Put:
To buy U.S. dollars ........... 122,057 698 1,915 1,217
To buy Euros .................... 20,311 255 236 (19)
Millions of yen
Contract Market Unrealized
March 31, 2000 amount value gain (loss)
Swap contracts:
Receive fix/pay floating ............... ¥9,561 ¥(10) ¥(10)
Pay fix/receive floating ................ 5,000 2 2
Thousands of U.S. dollars
Contract Market Unrealized
March 31, 2000 amount value gain (loss)
Swap contracts:
Receive fix/pay floating ............... $90,198 $(94) $(94)
Pay fix/receive floating ................ 47,170 19 19
The forward contracts on the foreign currency receivable and
payables translated into Japanese yen at the forward exchange rate on
the accompanying consolidated financial statements were not included
in the above amounts.
The fair value of forward exchange contracts are estimated based
on market prices for contracts with similar terms.
The fair value of option contracts and interest rate swap contracts
are estimated based on the quotes obtained from financial institutions.
12. LEASE INFORMATION
The Company and its consolidated subsidiaries lease certain buildings
and structures, vehicles, machinery and equipment and other assets
under non-capitalized finance and operating leases. Finance leases
which do not transfer ownership to lessees are not capitalized and are
accounted for in the same manner as operating leases. Certain infor-
mation for such non-capitalized finance and operating leases is as fol-
lows.
(1) A summary of assumed amounts of acquisition cost, accumulated
depreciation and net book value at March 31, 2000 and 1999 are as
follows:
Millions of yen
Acquisition Accumulated Net book
cost depreciation value
2000:
Buildings and structures .................. ¥ 2,035 ¥1,226 ¥ 809
Vehicles, machinery and
equipment ...................................... 5,738 2,849 2,889
Tools, furniture and fixtures .............. 11,699 5,742 5,957
Leasehold rights .............................. 109 66 43
Software.......................................... 167 103 64
¥19,748 ¥9,986 ¥9,762
Millions of yen
Acquisition Accumulated Net book
cost depreciation value
1999:
Buildings and structures .................. ¥ 1,335 ¥ 386 ¥ 949
Vehicles, machinery and
equipment ...................................... 6,455 3,293 3,162
Tools, furniture and fixtures .............. 11,395 5,412 5,983
Leasehold rights .............................. 234 142 92
Software.......................................... 153 74 79
¥19,572 ¥9,307 ¥10,265
Thousands of U.S. dollars
Acquisition Accumulated Net book
cost depreciation value
2000:
Buildings and structures .................. $ 19,198 $11,566 $ 7,632
Vehicles, machinery and
equipment ...................................... 54,132 26,877 27,255
Tools, furniture and fixtures .............. 110,368 54,170 56,198
Leasehold rights .............................. 1,028 623 405
Software ......................................... 1,576 972 604
$186,302 $94,208 $92,094
(2) Future minimum lease payments under the non-capitalized finance
and operating leases at March 31, 2000 and 1999 are as follows:
Thousands of
Millions of yen U.S. dollars
Non-capitalized finance leases 2000 1999 2000
Due within one year ..................... ¥3,694 ¥ 3,802 $34,849
Due after one year ....................... 6,068 6,463 557,245
¥9,762 ¥10,265 $92,094
Thousands of
Millions of yen U.S. dollars
Operating leases 2000 1999 2000
Due within one year ..................... ¥1,125 ¥ 670 $10,613
Due after one year ....................... 1,824 971 517,208
¥2,949 ¥1,641 $27,821
(3) Lease payments and assumed depreciation charges for the year
ended March 31, 2000, 1999 and 1998 are as follows:
Thousands of
Millions of yen U.S. dollars
2000 1999 1998 2000
Lease payments ............. ¥3,119 ¥3,276 ¥3,352 $29,425
Assumed depreciation
charges.......................... 3,119 3,276 —29,425
Assumed depreciation charges were not required to be disclosed in
1998.
(4) Assumed depreciation charges are computed using the straight-line
method over lease terms assuming no residual value.