Ricoh 2003 Annual Report Download - page 38

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36
Carrying value of retained interests ( included in lease deposits and other in the consolidated balance sheets)
Expected credit losses:
+ 10%
+ 20%
Discount rate:
+ 10%
+ 20%
Thousands of
U.S. dollars
2 0 0 3
$ 8 9 ,7 9 7
1 ,0 0 8
2 ,0 0 8
398
729
Millions of yen
2003
¥ 1 0 ,5 9 6
119
237
4 7
8 6
Principal am ount outstanding
Less: receivables securitized
Receivables held in portfolio
2 0 0 3
Millions of yen
Net credit losses
Principal am ount of
receivables 4 m onths
or more past due
Total principal
am ount of receivablesNet credit losses
Principal am ount of
receivables 4 m onths
or more past due
Total principal
am ount of receivables
¥ 3 ,8 9 3¥ 1 ,1 7 5¥ 5 0 4 ,2 5 2
( 6 4 ,9 1 7 )
¥439,335
¥3,937¥977¥491,791
( 80,011)
¥411,780
2002
Principal am ount outstanding
Less: receivables securitized
Receivables held in portfolio
2 0 0 3
Thousands of U.S. dollars
Net credit losses
Principal am ount of
receivables 4 m onths
or more past due
Total principal
am ount of receivables
$ 3 2 ,9 9 2$ 9 ,9 5 8$ 4 ,2 7 3 ,3 2 2
( 5 5 0 ,1 4 4 )
$ 3 ,7 2 3 ,1 7 8
Millions of yen
Proceeds from new securitization
Servicing fees received
Repurchases of delinquent or ineligible assets
Thousands of
U.S. dollars
2 0 0 3
$ —
3 1 4
4 8 ,7 2 9
2 0 0 3
¥ —
3 7
5 ,7 5 0
¥25,000
39
5,138
¥29,869
32
3,277
20022001
The im pacts of 10% and 20% adverse changes to the key econom ic assumptions on the fair value of retained interests as of March 31, 2003 are presented below.
The hypothetical scenario does not reflect expected m arket conditions and should
not be used as a prediction of future perform ance. As the figures indicate, changes
in fair value m ay not be linear. Also, in the above table, the effect of a variation in
a particular assum ption on the fair value of the retained interest is calculated
without changing any other assumption; in reality, changes in one factor may
result in changes in another, which might m agnify or counteract the sensitivities.
The following table summarizes certain cash flows received from and paid to
the Special Purpose Entities for all securitization activity for the years ended
March 31, 2001, 2002 and 2003:
Am ounts of delinquencies, net credit losses, and com ponents of all receivables managed and securitized as of March 31, 2002 and 2003, and for the years then
ended, are as follows: