Toshiba 2011 Annual Report Download - page 104

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38
Notes to Consolidated Financial Statements
Toshiba Corporation and Subsidiaries
March 31, 2011
Substantially all of the unsecured loan agreements permit the lenders to require collateral or guarantees for such loans.
Unsecured loan agreements may require prior approval by the banks and trustees before any distributions (including cash
dividends) may be made from current or retained earnings.
The aggregate annual maturities of long-term debt, excluding those of capital lease obligations, are as follows:
Year ending March 31 Millions of yen
Thousands of
U.S. dollars
2012 ¥ 137,941 $ 1,661,940
2013 182,229 2,195,530
2014 178,884 2,155,229
2015 34,000 409,639
2016 81,004 975,952
Thereafter 265,339 3,196,855
¥ 879,397 $ 10,595,145
12. ISSUANCE OF CONVERTIBLE BOND
In July, 2004, the Company issued ¥50,000 million Zero Coupon Convertible Bonds due 2009 (the “2009 Bonds”) and
¥100,000 million Zero Coupon Convertible Bonds due 2011 (the “2011 Bonds”).
The bonds include stock acquisition rights which entitle bondholders to acquire common stock under certain
circumstances, and are exercisable on and after August 4, 2004 up to, and including, July 7, 2009 (in the case of the 2009
Bonds) and up to, and including, July 7, 2011 (in the case of the 2011 Bonds).
About the 2009 Bonds, exercisable period of the stock acquisition rights ended, and the principal amount of Bonds was
redeemed at maturity.
The 2011 Bonds initial conversion prices are ¥542, subject to adjustment for certain events such as a stock split,
consolidation of stock or issuance of stock at a consideration per share which is less than the current market price.
(Conditions allowing exercise of stock acquisition rights)
The period prior to (but not including) July
21, 2008 (in the case of the 2009 Bonds) or
July 21, 2010 (in the case of the 2011
Bonds)
In the case that as of the last trading day of any calendar quarter, the
closing price of the shares for any 20 trading days in a period of 30
consecutive trading days ending on the last trading day of such quarter is
more than 120% of the conversion price in effect on each such trading day.
The period on or after July 21, 2008 (in the
case of the 2009 Bonds) or July 21, 2010 (in
the case of the 2011 Bonds)
At any time after the closing price of the shares on at least one trading
day is more than 120% of the conversion price in effect on each such
trading day.
The 2011 Bonds were not converted into shares of common stock for the year ended March 31, 2011.
The 2009 Bonds and the 2011 Bonds were not converted into shares of common stock for the year ended March 31,
2010.
The additional 175,295,212 shares relating to the potential conversion of the 2011 Bonds are included in the calculation of
the diluted net income per share attributable to shareholders of the Company for the year ended March 31, 2011.
The additional 175,295,212 shares relating to the potential conversion of the 2011 Bonds are excluded from the
calculation of the diluted net loss per share attributable to shareholders of the Company for the year ended March 31,
2010 due to their anti-dilutive effect.
13. ACCRUED PENSION AND SEVERANCE COSTS
All employees who retire or are terminated are usually entitled to lump-sum severance indemnities or pension benefits
determined by reference to service credits allocated to employees each year according to the regulation of retirement
benefit, length of service and conditions under which their employment terminates. The obligation for the severance
indemnity benefit is provided for through accruals and funding of the defined benefit corporate pension plan.