Olympus 2011 Annual Report Download - page 46

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44 OLYMPUS 2011
(As of March 31, 2010) Millions of yen
Carrying Value
Estimated Fair
Value Difference
Assets
1) Cash and time deposits .................................................................................................. ¥ 206,783 ¥ 206,783 ¥ —
2) Notes and accounts receivable ..................................................................................... 154,239 154,239 —
3) Investment securities ..................................................................................................... 118,016 118,016 —
Total Assets ......................................................................................................................... ¥ 479,038 ¥ 479,038 ¥ —
Liabilities
1) Notes and accounts payable ......................................................................................... ¥ 74,074 ¥ 74,074 ¥ —
2) Short-term borrowings ................................................................................................... 75,073 75,073 —
3) Bonds, including current maturities ............................................................................. 130,400 130,484 84
4) Long-term debt, including current maturities ............................................................. 456,008 458,392 2,384
Total Liabilities .................................................................................................................... ¥ 735,555 ¥ 738,023 ¥ 2,468
Derivatives* ............................................................................................................................. ¥ (1,380) ¥ (1,380) ¥ —
(As of March 31, 2011) Thousands of U.S. dollars
Carrying Value
Estimated Fair
Value Difference
Assets
1) Cash and time deposits .................................................................................................. $ 2,669,513 $ 2,669,513 $ —
2) Notes and accounts receivable ..................................................................................... 1,764,700 1,764,700 —
3) Investment securities ..................................................................................................... 648,488 648,488 —
Total Assets ......................................................................................................................... $5,082,701 $5,082,701 $ —
Liabilities
1) Notes and accounts payable ......................................................................................... $ 858,938 $ 858,938 $ —
2) Short-term borrowings ................................................................................................... 801,175 801,175 —
3) Bonds, including current maturities ............................................................................. 1,379,500 1,396,875 17,375
4) Long-term debt, including current maturities ............................................................. 5,929,163 5,995,825 66,662
Total Liabilities .................................................................................................................... $8,968,776 $9,052,813 $ 84,037
Derivatives* ............................................................................................................................. $ (1,025) $ (1,025) $ —
*The value of assets and liabilities arising from derivatives is shown at net value, and with the amount in parentheses representing net liability position.
Notes:
1) Methods to determine the estimated fair value of financial instruments and other matters related to securities and derivative transactions
Cash and time deposits and Notes and accounts receivable
Since these items are settled in a short period of time, their carrying value approximates fair value.
Investment securities
The fair value of stocks is based on quoted market prices. The fair value of debt securities is based on either quoted market prices or prices
provided by the financial institutions making markets in these securities. For information on securities classified by holding purpose,
please refer to Note 5 "Securities".
Notes and accounts payable and Short-term borrowings
Since these items are settled in a short period of time, their carrying value approximates fair value.
Bonds
The fair value of bonds is based on the present value of the total of principal and interest discounted by an interest rate determined taking
into account the remaining period of each bond and current credit risk.
Long-term borrowings
The fair value of long-term borrowings is based on the present value of the total of principal and interest discounted by the interest rate to
be applied if similar new borrowings were entered into.
Derivatives Transactions
Please refer to Note 25 "Derivatives".