Ricoh 2007 Annual Report Download - page 42

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41 ANNUAL REPORT 2007
Information pertaining to Ricoh’s lease receivables as of March 31, 2006 and 2007 is as follows:
Thousands of
Millions of Yen U.S. Dollars
2006
2007 2007
Minimum lease payments receivable ¥ 603,698
¥ 636,174 $5,391,305
Estimated non-guaranteed residual value 4,144
5,000 42,373
Unearned income (50,797)
(52,341) (443,568)
Allowance for doubtful receivables (15,023)
(12,520) (106,102)
Lease receivables, net 542,022
576,313 4,884,008
Less-Current portion of lease receivable, net (177,414)
(191,529) (1,623,127)
Amounts due after one year, net ¥ 364,608
¥ 384,784 $3,260,881
Summarized selected financial information for the years ended March
31, 2005, 2006 and 2007 for the discontinued operations reclassified
during the year ended March 31, 2007 is as follows:
4. DISCONTINUED OPERATIONS
Identifiable intangible assets of Infotec Europe B.V. primarily comprised
customer relationships of ¥4,700 million ($39,831 thousand), which
were estimated to have a remaining useful life of 10 years to 18 years.
Goodwill arising from the acquisition of Infotec Europe B.V. has all
been allocated to the Office Solutions segment.
5. FINANCE RECEIVABLES
Thousands of
Millions of Yen U.S. Dollars
2005 2006
2007 2007
Net sales ¥ 6,702 ¥ 5,852
¥ 1,487 $ 12,602
Income from discontinued operations before gain on disposal of
discontinued operations and provision for income taxes 4,400 3,433
866 7,339
Gain on disposal of discontinued operations
--
8,830 74,831
Provision for income taxes 1,794 1,398
4,196 35,559
Income from discontinued operations, net of tax ¥ 2,606 ¥ 2,035
¥ 5,500 $ 46,610
The carrying amounts of assets and liabilities of the disposal group classified as discontinued operations were immaterial for the years ended March 31, 2005 and
2006.
Finance receivables as of March 31, 2006 and 2007 are comprised primarily of
lease receivables and installment loans.
Ricoh’s products are leased to domestic customers primarily through Ricoh
Leasing Company, Ltd., a majority-owned domestic subsidiary and to overseas
customers primarily through certain overseas subsidiaries. These leases are
accounted for as sales-type leases in conformity with SFAS 13. Sales revenue
from sales-type leases is recognized at the inception of the leases.