Mitsubishi 2015 Annual Report Download - page 58

13. Cash Flow Information
Cash and cash equivalents at March 31, 2015 and 2014 consisted
of the following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2015 2014 2015
Cash and bank deposits ¥440,272 ¥450,063 $3,663,751
Time deposits with maturities
of more than three months (44,746) (38,368) (372,359)
Cash and cash equivalents ¥395,526 ¥411,695 $3,291,391
Interest paid less interest received and dividends received
included in Other, net within operating activities in the consolidated
statements of cash flows for the years ended March 31, 2015
and 2014 amounted to a net income of ¥7,026 million ($58,468
thousand) and to a net expense of ¥57 million, respectively. Income
taxes paid included in Other, net within operating activities in the
consolidated statements of cash flows for the years ended March
31, 2015 and 2014 amounted to ¥21,459 million ($178,577 thou-
sand) and ¥23,404 million, respectively.
Purchases of property, plant and equipment within investing
activities in the consolidated statements of cash flows for the years
ended March 31, 2015 and 2014 include payments for the acquisi-
tion of lease vehicles of ¥22,059 million ($183,567 thousand) and
¥26,124 million, respectively.
Proceeds from sales of property, plant and equipment within
investing activities in the consolidated statements of cash flows for
the years ended March 31, 2015 and 2014 include proceeds from
the sale of lease vehicles of ¥9,158 million ($76,213 thousand) and
¥10,184 million, respectively.
Changes in finance receivables within operating activities in the
consolidated statements of cash flows for the years ended March
31, 2015 and 2014 are primarily the net of payments amounting
to ¥126,049 million ($1,048,928 thousand) and ¥111,335 million,
respectively, and proceeds from collections amounting to ¥128,874
million ($1,072,432 thousand) and ¥123,585 million, respectively.
For the year ended March 31, 2014, treasury stock of ¥181,709
million was retired as a non-cash transaction.
14. Leases
As lessee
(a) Finance lease transactions that do not involve transfer of
ownership to the lessee
(1) Description of the leased assets:
Property, plant and equipment
Leased assets principally include, but are not limited to, production
facilities for the automobile business (“Machinery and equipment
(net)” and “Tool, furniture and fixtures (net)”).
(2) Depreciation method of leased assets
Leased assets under finance leases that do not involve transfer of
ownership to the lessee, are depreciated using the straight line
method based on the contract term of the lease agreement. If the
guaranteed residual value is determined in the lease agreement,
the said guaranteed residual value is deemed as the residual value
of such leased assets. If the residual value is not determined, it is
deemed to be zero.
(b) Operating lease transactions
Future minimum lease payments required under non-cancellable
operating lease transactions entered into by MMC and its consoli-
dated subsidiaries at March 31, 2015 and 2014 were as follows:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2015 2014 2015
Due within 1 year ¥ 2,116 ¥ 1,709 $17,612
Due after 1 year 9,690 9,911 80,637
Total ¥11,806 ¥11,620 $98,249
As lessor
Future minimum lease revenues from non-cancellable operating
lease transactions entered into by MMC and its consolidated sub-
sidiaries as lessor at March 31, 2015 and 2014 were as follows:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2015 2014 2015
Due within 1 year ¥ 9,472 ¥ 7,130 $ 78,825
Due after 1 year 11,412 9,528 94,972
Total ¥20,885 ¥16,659 $173,797
MITSUBISHI MOTORS CORPORATION
Annual Report 2015
56