Olympus 2014 Annual Report Download - page 49

28. Lease Transactions
Finance Lease Transactions (Lessee):
The Company and its consolidated subsidiaries lease certain machinery and equipment under non-cancelable fi nance and operating leases.
Finance leases that do not transfer ownership to lessees whose contract commenced on or before March 31, 2008 are not capitalized and
are accounted for in the same manner as operating leases. Certain information for such non-capitalized fi nance leases wasas follows:
As of March 31 Millions of yen
Thousands of
U.S. dollars
(Equivalent amount) 2013 2014 2014
Acquisition cost .................................................................................................................................... ¥ 428 ¥ 302 $ 2,932
Accumulated depreciation .................................................................................................................... (362) (287) (2,786)
Accumulated loss on impairment .......................................................................................................... — ——
Net book value ..................................................................................................................................... ¥ 66 ¥ 15 $ 146
Millions of yen
Thousands of
U.S. dollars
(Future lease payments) 2013 2014 2014
Due within one year .............................................................................................................................. ¥57 ¥15 $146
Due after one year ................................................................................................................................ 17 219
Total .............................................................................................................................................. ¥74 ¥17 $165
Balance of impairment loss account on leased assets
included in the outstanding future lease payments .............................................................................. ¥— ¥— $ —
As of March 31 Millions of yen
Thousands of
U.S. dollars
(Lease payments and pro forma information) 2013 2014 2014
Lease payments ................................................................................................................................... ¥136 ¥59 $573
Equivalent of depreciation expense ....................................................................................................... 121 51 495
Equivalent of interest expense .............................................................................................................. 6 2 19
Equivalent of depreciation expense is computed using the straight-line method over the lease terms assuming no residual value. Equivalent
of interest expense is computed using the interest rate method over the lease terms for the difference between acquisition cost and total
lease payments.
Operating Lease Transactions (Lessee):
Future minimum lease payments under the non-cancelable operating leases subsequent to March 31, 2013 and 2014 were as follows:
Millions of yen
As of March 31, 2013
Due within
one year
Due after
one year
Total minimum
lease payments
¥301 ¥258 ¥559
Millions of yen Thousands of U.S. dollars
As of March 31, 2014
Due within
one year
Due after
one year
Total minimum
lease payments
Due within
one year
Due after
one year
Total minimum
lease payments
¥1,175 ¥1,732 ¥2,907 $11,408 $16,815 $28,223
26. Cash and Cash Equivalents
Reconciliations of cash and deposits shown in the consolidated balance sheets and cash and cash equivalents shown in the consolidated
statements of cash fl ows for the years ended March 31, 2013 and 2014 were as follows:
Millions of yen
Thousands of
U.S. dollars
2013 2014 2014
Cash and deposits ............................................................................................................................... ¥229,610 ¥252,121 $2,447,777
Less-time deposits with maturities over three months ........................................................................... (3,828) (777) (7,544)
Cash and cash equivalents ................................................................................................................... ¥225,782 ¥251,344 $2,440,233
27. Cash Flow from Sales of Investments in Subsidiaries Resulting in Changes in Scope of Consolidation
Details of assets and liabilities, and the reconciliation between the transaction price and proceeds from the transfer of ITX Corporation,
Net Protections, Inc. and 11 other companies, which have been excluded from consolidated subsidiaries due to sale of shares during the
fi scal year ended March 31, 2013 were as follows:
Millions of yen
Current assets ................................................................................................................................................................... ¥ 64,733
Non-current assets ............................................................................................................................................................ 29,852
Current liabilities ................................................................................................................................................................ (54,970)
Non-current liabilities ......................................................................................................................................................... (2,009)
Net unrealized holding gains on available-for-sale securities, net of taxes ........................................................................... (13)
Foreign currency translation adjustment ............................................................................................................................. 221
Minority interests ............................................................................................................................................................... (240)
Gain on sales of investment securities in subsidiaries, net .................................................................................................. 20,027
Transfer price for business ................................................................................................................................................. 57,601
Cash and cash equivalents ................................................................................................................................................ (3,402)
Proceeds from sale not yet collected ................................................................................................................................. (1,570)
Net: proceeds from sales of investment securities in subsidiaries, net ................................................................................ ¥ 52,629
Details of assets and liabilities, and the reconciliation between the transaction price and proceeds from Japan Medical Data Center Co., Ltd.
and 8 other companies, which have been excluded from consolidated subsidiaries due to sale of shares during the fi scal year ended March
31, 2014 were as follows:
Millions of yen
Thousands of
U.S. dollars
Current assets ................................................................................................................................................................... ¥ 8,621 $ 83,699
Non-current assets ............................................................................................................................................................ 4,522 43,903
Current liabilities ................................................................................................................................................................ (2,711) (26,320)
Non-current liabilities ......................................................................................................................................................... (651) (6,320)
Foreign currency translation adjustment ............................................................................................................................. (29) (282)
Minority interests ............................................................................................................................................................... (1,478) (14,350)
Gain on sales of investment securities in subsidiaries, net .................................................................................................. 128 1,243
Transfer price for business ................................................................................................................................................. 8,402 81,573
Cash and cash equivalents ................................................................................................................................................ (3,548) (34,447)
Net: proceeds from sales of investment securities in subsidiaries, net ................................................................................ ¥ 4,854 $ 47,126
Notes to the Consolidated Financial Statements
95
OLYMPUS Annual Report 2014
94 OLYMPUS Annual Report 2014