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 OLYMPUS 2003
The aggregate annual maturities of long-term debt subsequent to March , , are as follows:
M I L L I O N S O F T H O U SA N D S O F
YE N U S D O L L A R S
2004 ............................................................................................................................................... ¥ 38,321 $ 319,342
2005 ............................................................................................................................................... 2,088 17,400
2006 ............................................................................................................................................... 30,015 250,125
2007 ............................................................................................................................................... 25,377 211,475
2008 ............................................................................................................................................... 20,366 169,717
Thereafter........................................................................................................................................ 6,932 57,766
Total.............................................................................................................................................. ¥123,099 $1,025,825
7. N O T E S A N D A C C O U N T S P A YA B L E
Notes and accounts payable as of March ,  and , consisted of the following:
T H O U S A N D S O F
M I L L I O N S O F Y E N U S D O L L A R S
2003 2002 2003
Unconsolidated subsidiaries and affiliates ............................................................... ¥ 65 ¥37 $542
Tr ade ...................................................................................................................... 60,795 55,954 506,625
...................................................................................................................... ¥60,860 ¥55,991 $507,167
8. SE VE R AN CE A N D R E T I R E M E N T A L L O W A N C E
As explained in “Note . SUMMARY OF SIGNIFICANT ACCO UNTING POLICIES”, effective April , , the Company and
its consolidated subsidiaries adopted the accounting standard for employees’ severance and retirement benefits, under which the lia-
bilities and expenses for severance and retirement benefits are determined based on the amounts obtained by actuarial calculations.
The liabilities for severance and retirement benefits included in the liability section of the consolidated balance sheet as of March
,  and , consist of the following:
T H O U S A N D S O F
M I L L I O N S O F Y E N U S D O L L A R S
2003 2002 2003
Projected benefit obligation ..................................................................................... ¥ 96,777 ¥94,326 $ 806,475
Unrecognized prior service costs.............................................................................. 5,157 4,107 42,975
Unrecognized actuarial difference............................................................................ (25,781) (23,044) (214,842)
Fair value of pension assets...................................................................................... (60,133) (60,551) (501,108)
Unrecognized net transition obligation .................................................................... (3,113) (4,669) (25,942)
Allowance for employees’ severance and retirement benefits..................................... ¥ 12,907 ¥10,169 $ 107,558
Severance and retirement allowance for directors ..................................................... ¥ 1,136 ¥1,118 $9,467
Total severance and retirement allowance ................................................................ ¥ 14,043 ¥11,287 $ 117,025
Included in the consolidated statement of income for the years ended March ,  and , are employees’ severance and
retirement benefit expense comprising of the following:
T H O U S A N D S O F
M I L L I O N S O F Y E N U S D O L L A R S
2003 2002 2003
Service costs—benefits earned during the year......................................................... ¥ 5,330 ¥4,727 $ 44,417
Interest cost on projected benefit obligation ............................................................ 2,155 2,433 17,958
Expected return on plan assets................................................................................. (1,810) (2,066) (15,083)
Amortization of actuarial difference ........................................................................ 5,087 2,857 42,392
Amortization of prior service costs .......................................................................... (891) (344) (7,425)
Amortization of net transition obligation ................................................................ 1,556 1,556 12,967
Severance and pension benefit expense .................................................................... ¥ 11,427 ¥9,163 $ 95,226
OLY MPUS AR03財務 for PDF 03.8.1 10:43 A M ページ 32