Toshiba 2002 Annual Report Download - page 47

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TOSHIBA CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
A summary of transactions and balances with the affiliates accounted for by the equity method is presented below:
Thousands of
Millions of yen U.S. dollars
Year ended March 31 2003 2002 2003
Sales ¥79,274 ¥22,164 $660,617
Purchases ¥73,455 ¥63,355 $612,125
Thousands of
Millions of yen U.S. dollars
March 31 2003 2002 2003
Notes and accounts receivable, trade ¥25,544 ¥15,033 $212,867
Other receivables ¥ 6,383 ¥ 3,349 $ 53,192
Notes and accounts payable, trade ¥28,633 ¥44,618 $238,608
Other payables ¥ 7,900 ¥ 5,475 $ 65,833
Intangible assets comprise mainly technical license fees and are subject to amortization. At March 31, 2003, gross
carrying amounts and related accumulated amortization were ¥90,139 million ($751,158 thousand) and ¥53,110 mil-
lion ($442,583 thousand), respectively. At March 31, 2002, gross carrying amounts and related accumulated amor-
tization were ¥82,381 million and ¥41,223 million, respectively. For the years ended March 31, 2003 and 2002,
amortization expense was ¥15,179 million ($126,492 thousand) and ¥16,174 million, respectively. Estimated
amortization expense for each of the five years ending March 31 is: ¥12,651 million ($105,425 thousand) in
2004, ¥10,957 million ($91,308 thousand) in 2005, ¥6,974 million ($58,117 thousand) in 2006, ¥3,168 million ($26,400
thousand) in 2007, and ¥961 million ($8,008 thousand) in 2008.
Short-term borrowings at March 31, 2003 and 2002 comprise the following:
Thousands of
Millions of yen U.S. dollars
March 31 2003 2002 2003
Loans, principally from banks, including bank
overdrafts, with weighted-average interest
rate of 0.77% at March 31, 2003 and 0.84%
at March 31, 2002:
Secured ¥ 2,645 ¥ 3,516 $ 22,042
Unsecured 352,048 456,510 2,933,733
Commercial paper with weighted-average
interest rate of 0.04% at March 31, 2003
and 0.15% at March 31, 2002 35,000 168,693 291,667
Euro yen or U.S. dollar medium-term notes
of a subsidiary, with weighted-average interest
rate of 0.16% at March 31, 2003 and 0.36%
at March 31, 2002 (swapped for floating
rate (LIBOR, etc.) or fixed rate U.S. dollar,
yen or Euro obligations) 38,276 30,135 318,966
¥427,969 ¥658,854 $3,566,408
Substantially all of the short-term borrowings are with banks which have written basic agreements with the
Company to the effect that, with respect to all present or future loans with such banks, the Company shall provide
collateral (including sums on deposit with such banks) or guarantors immediately upon the bank’s request and that
any collateral furnished pursuant to such agreements or otherwise will be applicable to all indebtedness to
such banks.
At March 31, 2003, the Company had unused committed lines of credit from short-term financing arrange-
ments aggregating ¥542,235 million ($4,518,625 thousand), of which ¥21,035 million ($175,292 thousand) was in
support of the Company’s commercial paper. The lines of credit expire on various dates from July 2003
through April 2004. Under the agreements, the Company is required to pay commitment fees raging from 0.1 per-
cent to 0.2 percent on the unused portion of the lines of credit.
9.
SHORT-TERM
BORROWINGS
AND LONG-
TERM DEBT
8.
INTANGIBLE
ASSETS
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