Ricoh 1999 Annual Report Download - page 51

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48
13. PER SHARE DATA
The following table sets forth the computation of basic and diluted
earnings per share showing the reconciliation of the numerators and
denominators used for the computation.
Dividends per share shown in the consolidated statements of income have
been presented on an accrual basis and include, in each fiscal year ended
March 31, dividends approved or to be approved after such March 31, but
applicable to the year then ended.
Average common shares outstanding
Effect of dilutive securities:
Convertible bonds—
1.9%, payable in yen, due March 1998
1.8%, payable in yen, due March 2002
1.5%, payable in yen, due March 2002
0.35%, payable in yen, due March 2003
Diluted common shares outstanding
1999
Thousands of shares
691,592
—
1,802
33,658
24,974
752,026
1998
669,959
—
1,921
34,662
27,810
734,352
1997
Thousands of
U.S. dollars
19991999
Millions of yen
19981997
U.S. dollars
19991999
Yen
19981997
655,010
23,629
2,603
39,354
31,405
752,001
Net income applicable to common shareholders
Effect of dilutive securities:
Convertible bonds—
1.9%, payable in yen, due March 1998
1.8%, payable in yen, due March 2002
1.5%, payable in yen, due March 2002
0.35%, payable in yen, due March 2003
Other
Diluted net income
¥ 28,922
286
19
292
130
(356)
¥ 29,293
¥ 30,131
—
14
258
109
(145)
¥ 30,367
¥ 30,655
—
15
272
110
(266)
¥ 30,786
$ 253,347
—
124
2,248
909
(2,198)
$ 254,430
¥ 44.16
38.95 ¥ 44.97
41.35 ¥ 44.33
40.94 $ 0.37
0.34
Earnings per share:
Basic
Diluted
14. DERIVATIVE FINANCIAL INSTRUMENTS
and 1999, they had ¥412,020 million and ¥351,893 million ($2,908,207
thousand) of contractual amounts under interest rate swap agreements.
Interest rate swap transactions generally involve the exchange of floating
rate for fixed rate interest payment obligations without an exchange of
underlying principal amounts. The differentials to be paid or received under
the interest rate swap agreements are accrued.
The counterparties to the above financial instrument contracts are
major financial institutions and, therefore, the Company and certain of its
subsidiaries are exposed to credit risk in the event of nonperformance by
counterparties. However, the Company does not anticipate nonperformance
by them.
The Company and certain of its subsidiaries enter into various financial
instrument contracts in the normal course of business and in connection
with the management of its assets and liabilities.
The Company and certain of its subsidiaries enter into foreign currency
contracts to hedge assets and liabilities denominated in foreign currencies.
The contracted amounts outstanding as of March 31, 1998 and 1999 were
¥134,023 million and ¥105,022 million ($867,950 thousand), respectively.
Gains or losses on those contracts used to hedge existing assets and liabilities
are recognized in income currently.
In connection with short-term borrowings and long-term indebtedness,
the Company and certain of its subsidiaries have used interest rate swap
agreements as a means of managing its interest exposure; at March 31, 1998