Ricoh 2003 Annual Report Download - page 44

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The Com pany and certain of its subsidiaries enter into the contracts with finan-
cial institutions regarding lines of credit and overdrawing, and hold the issuing
program s of commercial paper and m edium-term notes. The unused lines of
credit am ounted to ¥580,785 m illion and ¥613,884 million ( $5,202,407 thou-
sand) as of March 31, 2002 and 2003, respectively, of which ¥194,658 million and
¥234,704 m illion ( $1,989,017 thousand) related to commercial paper and
¥147,388 m illion and ¥144,280 m illion ( $1,222,712 thousand) related to
medium -term notes program s at prevailing interest rates.
Long-term indebtedness as of March 31, 2002 and 2003 consists of the following:
1 0 . LONG-TERM INDEBTEDNESS
Thousands of
U.S. dollars
2 0 0 3
Millions of yen
( Per share)
Conversion
price
2002
2 0 0 3
Convertible bonds—
0.35%, payable in yen, due March 2003
0.4%, payable in yen, due September 2002 issued by a consolidated subsidiary
Total convertible bonds
Bonds—
2.075%, straight bonds, payable in yen, due April 2005
0.87%, straight bonds, payable in yen, due March 2007
1.34%, straight bonds, payable in yen, due March 2009
0.9%, straight bonds, payable in yen, due June 2003 issued by a consolidated subsidiary
1.1%, straight bonds, payable in yen, due February 2004 issued by a consolidated subsidiary
1.17%, straight bonds, payable in yen, due June 2004 issued by a consolidated subsidiary
0.73%, straight bonds, payable in yen, due June 2006 issued by a consolidated subsidiary
0.7%, straight bonds, payable in yen, due June 2007 issued by a consolidated subsidiary
2.1%, straight bonds, payable in yen, due October 2009 issued by a consolidated subsidiary
Medium-term notes, 0.21% weighted average, due through 2005 issued by a consolidated subsidiary
Total bonds
Unsecured loans—
Banks and insurance com panies, 1.62% weighted average, due through 2011
Secured loans—
Banks, insurance companies and other financial institution, 1.45% weighted average, due through 2020
Capital lease obligations ( see Note 2 ( j) )
Total
SFAS No. 133 fair value adjustment
Less— Current maturities included in current liabilities
¥1,210.00
1,594.40
¥ 29,886
4,163
34,049
40,000
35,000
25,000
5,000
10,000
10,000
10,000
—
10,000
39,162
184,162
170,537
4,799
3,113
396,660
3,649
( 67,314)
¥332,995
¥ —
—
—
4 0 ,0 0 0
3 5 ,0 0 0
2 5 ,0 0 0
5 ,0 0 0
9 ,9 1 0
1 0 ,0 0 0
1 0 ,0 0 0
1 0 ,0 0 0
1 0 ,0 0 0
2 4 ,0 0 0
1 7 8 ,9 1 0
2 1 0 ,0 4 2
2 ,5 5 3
4 ,2 3 7
3 9 5 ,7 4 2
4 ,3 9 5
( 5 4 ,2 3 5 )
¥345,902
$
—
—
—
3 3 8 ,9 8 3
2 9 6 ,6 1 0
2 1 1 ,8 6 4
4 2 ,3 7 3
8 3 ,9 8 3
8 4 ,7 4 6
8 4 ,7 4 6
8 4 ,7 4 6
8 4 ,7 4 6
2 0 3 ,3 8 9
1 ,5 1 6 ,1 8 6
1 ,7 8 0 ,0 1 7
2 1 ,6 3 6
3 5 ,9 0 7
3 ,3 5 3 ,7 4 6
3 7 ,2 4 6
( 4 5 9 ,6 1 9 )
$ 2 ,9 3 1 ,3 7 3
Secured loans are collateralized by land, buildings and lease receivables with
a book value of ¥8,432 m illion ( $71,458 thousand) as of March 31, 2003.
All bonds outstanding as of March 31, 2003 are redeemable at the option of
Ricoh at 100% of the principal am ounts under certain conditions as provided in
the applicable agreements.
Bonds are subject to certain covenants such as restrictions on certain addi-
tional secured indebtedness, as defined in the agreements. Ricoh presently is in
com pliance with such covenants as of March 31, 2003.
Certain loan agreem ents provide, among other things, that the lender m ay
request the Company to subm it proposals for appropriations of earnings ( includ-
ing payment of dividends) to the lender for its review and approval prior to pre-
sentation to the shareholders. The Company has never been requested to subm it
such proposals for approval. In addition, as is custom ary in Japan, substantially
all of the bank borrowings are subject to general agreements with each bank
which provide, among other things, that the banks may request additional secu-
rity for these loans if there is reasonable and probable cause and m ay treat any
security furnished to the banks as well as cash deposited as security for all present
and future indebtedness. The Company has never been requested to subm it such
additional security.
The aggregate annual m aturities of long-term indebtedness subsequent to
March 31, 2003 are as follows:
Thousands of
U.S. dollars
2004
2005
2006
2007
2008
2009 and thereafter
Total
$
461,712
728,525
1,065,898
474,805
230,814
391,992
$ 3,353,746
Millions of yen
¥
5 4 ,4 8 2
8 5 ,9 6 6
125,776
5 6 ,0 2 7
2 7 ,2 3 6
4 6 ,2 5 5
¥ 395,742
Years ending March 31