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The aggregate annual maturities of long-term debt subsequent to March 31, 2012 were as follows:
Year ending Millions of yen
Thousands of
U.S. dollars
2013...................................................................................................................................................................................................... ¥ 49,023 $ 612,788
2014...................................................................................................................................................................................................... 102,835 1,285,438
2015...................................................................................................................................................................................................... 87,555 1,094,438
2016...................................................................................................................................................................................................... 68,499 856,238
2017...................................................................................................................................................................................................... 50,069 625,863
thereafter ............................................................................................................................................................................................... 221,353 2,766,910
Total ....................................................................................................................................................................................................... ¥ 579,334 $ 7,241,675
9. NOTES AND ACCOUNTS PAYABLE
Notes and accounts payable as of March 31, 2012 and 2011, consisted of the following:
Millions of yen
Thousands of
U.S. dollars
2012 2011 2012
Unconsolidated subsidiaries and affiliates ..................................................................................................................... ¥ 197 ¥ 144 $ 2,463
Trade ......................................................................................................................................................................... 75,133 68,571 939,162
Total ........................................................................................................................................................................... ¥ 75,330 ¥ 68,715 $ 941,625
10. RETIREMENT BENEFIT PLANS
Employees of the Company and consolidated subsidiaries have defined funded pension plans and unfunded retirement allowance plans. The Company and certain consolidated
subsidiaries have defined contribution pension plans.
Directors and corporate auditors of several domestic consolidated subsidiaries have unfunded retirement allowance plans.
The amounts of pension payments and retirement allowances are generally determined on the basis of length of service and basic salary at the time of termination of service.
It is the Company’s policy to fund amounts required to maintain sufficient plan assets to provide for accrued benefits. The plan assets consist principally of interest-bearing
bonds and listed equity securities.
Provision for retirement benefit recognized in the consolidated balance sheets as of March 31, 2012 and 2011, consisted of the following:
Millions of yen
Thousands of
U.S. dollars
2012 2011 2012
Projected benefit obligation.......................................................................................................................................... ¥ 139,266 ¥ 129,851 $ 1,740,825
Fair value of plan assets .............................................................................................................................................. (133,032) (124,724) (1,662,900)
Unrecognized prior service costs .................................................................................................................................. 6,791 8,717 84,888
Unrecognized actuarial loss ......................................................................................................................................... (12,551) (18,054) (156,888)
Prepaid pension costs ................................................................................................................................................. 23,448 23,008 293,100
Retirement benefits for employees ............................................................................................................................... 23,922 18,798 299,025
Retirement benefit for directors and corporate auditors ................................................................................................. 140 156 1,750
Total provision for retirement benefit ............................................................................................................................ ¥ 24,062 ¥ 18,954 $ 300,775
Retirement benefit expenses for employees included in the consolidated statements of operations for the years ended March 31, 2012 and 2011, consisted of the following:
Millions of yen
Thousands of
U.S. dollars
2012 2011 2012
Service costs .............................................................................................................................................................. ¥ 7,402 ¥ 6,588 $ 92,525
Interest cost on projected benefit obligation .................................................................................................................. 3,891 4,024 48,638
Expected return on plan assets .................................................................................................................................... (5,466) (5,488) (68,325)
Amortization of actuarial loss ....................................................................................................................................... 6,427 3,950 80,338
Amortization of prior service costs ................................................................................................................................ (1,581) (1,070) (19,763)
Retirement benefits expenses ...................................................................................................................................... 10,673 8,004 133,413
Payment for defined contribution plans ......................................................................................................................... 526 268 6,575
Total ........................................................................................................................................................................... ¥ 11,199 ¥ 8,272 $ 139,988
OLYMPUS 󱚈 Annual Report 2012 81