Olympus 2009 Annual Report Download - page 54

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52
The obligations secured by such collateral were as follows:
Millions of yen
Thousands of
U.S. dollars
2009 2008 2009
Long-term debt ............................................................................................................ ¥ 501 ¥ 663 $ 5,274
Current maturities of long-term debt............................................................................ 115 1,253 1,210
Short-term borrowings ................................................................................................. — 139 —
¥ 616 ¥ 2,055 $ 6,484
17. IMPAIRMENT LOSS ON FIXED ASSETS
The loss on impairment of fixed assets that the Company and its consolidated subsidiaries recorded for the years ended March 31, 2009,
2008 and 2007 were as follows:
For the year ended March 31, 2009
Use Type of assets Location Millions of yen
Thousands of
U.S. dollars
Assets used for Other Business Goodwill Tokyo and others ¥ 721 $ 7,589
Land 252 2,653
Assets used for Information Goodwill Tokyo and others 365 3,842
and Communication Business Software 477 5,021
Total ¥ 1,815 $ 19,105
For the year ended March 31, 2008
Use Type of assets Location Millions of yen
Assets used for Life Science Business Goodwill Munich, Germany ¥ 1,058
Idle properties Buildings Tokyo and others 35
Total ¥ 1,093
For the year ended March 31, 2007
Use Type of assets Location Millions of yen
Assets used for Life Science Business Goodwill Munich, Germany ¥ 247
Assets used for Information
and Communication Business
Goodwill
Buildings
Tokyo, Fukuoka
and others
435
188
Assets used for Others Business Goodwill
Machinery and Equipment
Nagano and others 269
24
Idle properties Land
Buildings
Nagano 255
201
Total ¥ 1,619
The Company and its consolidated subsidiaries classified fixed assets into the groups of the business segments. The idle properties are
considered to constitute a group.
Some assets for business use were not expected to make a profit constantly because of the degradation of the business environment.
As a result, carrying amounts of assets for business use were devaluated to their recoverable amounts. The recoverable amounts were cal-
culated on the basis of utility value, with future cash flows discounted by 11% in fiscal 2009, 15% in fiscal 2008 and mainly 6.5% or 5.9% in
fiscal 2007.
Carrying amounts of idle properties were devaluated to their recoverable amounts, owing to substantial decline in the fair market value.
The recoverable amounts were estimated by net realizable value of fixed assets which were calculated based on net selling price in fiscal
2008 and 2007.
18. AMORTIZATION OF GOODWILL
For the year ended March 31, 2009, the Company fully amortized goodwill related to affiliates as an expense as incurred, in accordance
with paragraph 32 (1) of JICPA Accounting Committee report No.7 “Practical Guidance for Consolidated Procedures Related to Equity
Account in Consolidated Financial Statements”.