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6. Accounts Payable – Other and Accrued Expenses
Accounts payable – other and accrued expenses at March 31, 2014
and 2013 were as follows:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2014 2013 2014
Accrued expenses and
accounts payable ¥113,893 ¥106,168 $1,106,621
Allowance for product
warranties 31,993 28,273 310,859
¥145,887 ¥134,441 $1,417,480
7. Short-Term Loans Payable, Long-Term Debt and
Lease Obligations
Short-term loans payable at March 31, 2014 and 2013 consisted of
the following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2014 2013 2014
Loans, principally from banks ¥121,074 ¥113,984 $1,176,398
The weighted average interest rates of short-term loans payable
at March 31, 2014 and 2013 were 1.6% and 2.1%, respectively.
Long-term debt at March 31, 2014 and 2013 consisted of
the following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2014 2013 2014
Loans, principally from
banks and insurance
companies, due through
2023 at weighted average
interest rates averaging
3.0% in 2014 and 3.2%
in 2013:
Secured ¥ 39,248 ¥ 62,983 $ 381,348
Unsecured 62,035 187,414 602,751
101,283 250,397 984,100
Less current portion (32,611) (143,271) (316,857)
¥ 68,672 ¥ 107,125 $ 667,242
The maturities of long-term debt at March 31, 2013 are as follows:
Years ending March 31,
(In millions
of yen)
(In thousands
of U.S. dollars)
2015 ¥ 32,611 $316,857
2016 27,647 268,629
2017 21,022 204,259
2018 19,590 190,346
2019 263 2,561
Thereafter 148 1,444
Total ¥101,283 $984,100
Lease obligations at March 31, 2014 and 2013 consisted of
the following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2014 2013 2014
Current ¥3,818 ¥4,703 $37,102
Non-current 4,933 6,793 47,936
The weighted average interest rates of lease obligations due
through 2029 at March 31, 2014 and 2013 were 4.5%.
The maturities of lease obligations at March 31, 2013 are
as follows:
Years ending March 31,
(In millions
of yen)
(In thousands
of U.S. dollars)
2015 ¥3,818 $37,102
2016 3,005 29,202
2017 1,069 10,394
2018 415 4,034
2019 192 1,866
Thereafter 250 2,438
Total ¥8,752 $85,039
Assets pledged as collateral for short-term loans payable, long-
term debt and guarantees (excluding factory related groups of
assets) at March 31, 2014 and 2013 consisted of the following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2014 2013 2014
Finance receivables and
Long-term finance receivables ¥ 60,814 ¥ 67,676 $ 590,891
Inventories —9,676 —
Property, plant and
equipment, net 56,187 45,247 545,931
Other (see (i) below) 8,442 7,499 82,026
¥125,443 ¥130,100 $1,218,848
MITSUBISHI MOTORS CORPORATION
Annual Report 2014
46