Ricoh 2000 Annual Report Download - page 48

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46
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—
1.8%, 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
2000
Thousands of shares
691,745
1,743
33,604
24,934
752,026
1999
691,592
1,802
33,658
24,974
752,026
1998
Thousands of
U.S. dollars
20002000
Millions of yen
19991998
U.S. dollars
20002000
Yen
19991998
669,959
1,921
34,662
27,810
734,352
Net income applicable to common shareholders
Effect of dilutive securities:
Convertible bonds—
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
¥ 30,131
14
258
109
(145)
¥ 30,367
¥ 30,655
15
272
110
(266)
¥ 30,786
¥ 41,928
15
300
120
(204)
¥ 42,159
$ 407,068
146
2,913
1,165
(1,981)
$ 409,311
¥ 44.97
41.35 ¥ 44.33
40.94
¥ 60.61
56.06 $ 0.59
0.54
Earnings per share:
Basic
Diluted
14. DERIVATIVE FINANCIAL INSTRUMENTS
they had ¥351,893 million and ¥378,010 million ($3,670,000 thousand) of con-
tractual amounts under interest rate swap agreements. Interest rate swap transac-
tions 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 ac-
crued.
The counterparties to the above financial instrument contracts are major fi-
nancial institutions and, therefore, the Company and certain of its subsidiaries
are exposed to credit risk in the event of nonperformance by counterparties. How-
ever, the Company does not anticipate nonperformance by them.
The Company and certain of its subsidiaries enter into various financial instru-
ment contracts in the normal course of business and in connection with the
management of their assets and liabilities.
The Company and certain of its subsidiaries enter into foreign currency con-
tracts to hedge assets and liabilities denominated in foreign currencies. The con-
tracted amounts outstanding as of March 31, 1999 and 2000 were ¥105,022
million and ¥91,627 million ($889,583 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 their interest exposure; at March 31, 1999 and 2000,