Olympus 2007 Annual Report Download - page 45

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OLYMPUS 2007 43
The aggregate annual maturities of long-term debt subsequent to March 31, 2007 are as follows:
Thousands of
Millions of yen U.S. dollars
2008 .............................................................................................................................................. ¥ 8,638 $ 71,983
2009 .............................................................................................................................................. 64,555 537,958
2010 .............................................................................................................................................. 36,377 303,142
2011 .............................................................................................................................................. 66,573 554,775
2012 .............................................................................................................................................. 57,372 478,100
Thereafter ......................................................................................................................................... 88,726 739,383
Total .............................................................................................................................................. ¥322,241 $2,685,341
9. NOT ES A ND ACCOU NTS PAYABLE
Notes and accounts payable as of March 31, 2007 and 2006, consisted of the following:
Thousands of
Millions of yen U.S. dollars
2007 2006 2007
Unconsolidated subsidiaries and affiliates ..................................................................... ¥ 379 ¥ 9 $ 3,158
Trade ..................................................................................................................... 99,873 85,732 832,275
Total ..................................................................................................................... ¥100,252 ¥85,741 $835,433
10. SEVERANCE AND RETIREMENT ALLOWANCE
The Company and its consolidated subsidiaries adopted accounting standards for employees’ severance and retirement benefits, under which
the liabilities and expenses for severance and retirement benefits are determined based on the amounts obtained by actuarial calculations.
The liabilities for severance and retirements benefits included in the liability section of the consolidated balance sheets as of March 31,
2007 and 2006, consist of the following:
Thousands of
Millions of yen U.S. dollars
2007 2006 2007
Projected benefit obligation ........................................................................................ ¥ 123,455 ¥ 119,322 $ 1,028,792
Unrecognized prior service costs ................................................................................. 2,740 2,935 22,833
Unrecognized actuarial difference ............................................................................... 4,397 (5,661) 36,642
Fair value of pension assets ........................................................................................ (128,247) (115,764) (1,068,725)
Prepaid pension expenses .......................................................................................... 7,184 7,695 59,866
Allowance for employees’ severance and retirement benefits ............................................ 9,529 8,527 79,408
Severance and retirement allowance for directors and corporate auditors ........................... ¥ 83 ¥ 780 $ 692
Total severance and retirement allowance ..................................................................... ¥ 9,612 ¥ 9,307 $ 80,100
Included in the consolidated statements of operations for the years ended March 31, 2007 and 2006, are employees’ severance and
retirement benefit expenses comprising the following:
Thousands of
Millions of yen U.S. dollars
2007 2006 2007
Service costs—benefits earned during the year............................................................... ¥ 6,435 ¥ 5,686 $ 53,625
Interest cost on projected benefit obligation ................................................................... 3,462 3,138 28,850
Expected return on plan assets .................................................................................... (5,515) (4,681) (45,958)
Amortization of actuarial difference ............................................................................. 2,686 6,341 22,383
Amortization of prior service costs ............................................................................... (1,116) (950) (9,300)
Severance and pension benefit expenses ...................................................................... ¥ 5,952 ¥ 9,534 $ 49,600