Toshiba 2011 Annual Report Download - page 56

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Consolidated Financial Summary
• U.S.GAAP was codifi ed by the Financial Accounting Standards Board. Beginning with the fi scal
year ended March 31, 2010, the codified standards are described in “Accounting Standards
Codifi cation (ASC).”
• ¥48.9 billion, ¥4.8 billion and ¥4.1 billion of “Subsidy received on return of substitutional portion
of Employees’ Pension Fund Plan, net of settlement loss of ¥188.1 billion in 2004, ¥8.0 billion in
2005, ¥5.0 billion in 2006” are classified as a reduction of selling, general and administrative
expenses for the years ended March 31, 2004, 2005 and 2006, respectively.
• Operating income (loss) has been determined under financial reporting practices generally
accepted in Japan and is defined as net sales less cost of sales and selling, general and
administrative expenses.
• Beginning with the fi scal year ended March 31, 2006, equity in earnings (losses) of affi liates has
been included in income (loss) from continuing operations, before income taxes and
noncontrolling interests. Prior-period data for the fi scal years ended March 31, 2000 through 2005
has been reclassifi ed to conform with the current classifi cation.
• The Mobile Broadcasting business ceased operation at the end of the fi scal year ended March
31,2009. Prior-period data from the fiscal year ended March 31, 2008 has been reclassified to
conform with the current classifi cation.
• Beginning with the fi scal year ended March 31,2010, Toshiba Corporation adopted ASC No.810
“Consolidation.” Prior-period data for the fi scal years up to March 31, 2009 has been reclassifi ed to
conform with the current classifi cation.
• On June 17, 2010, Toshiba Corporation and Fujitsu Limited (“Fujitsu”) signed a Memorandum of
Understanding to merge their mobile phone businesses, followed by a defi nitive contract on July
29, 2010. On October 1, 2010, Toshiba Corporation transferred its mobile phone business to a
newly established company called Fujitsu Toshiba Mobile Communications Limited, and sold
80.1% of the shares of the new company to Fujitsu. The results of the mobile phone business are
not incorporated into consolidated net sales, operating income (loss), or income (loss) from
continuing operations, before income taxes and noncontrolling interests in the consolidated
Year ended March 31 2001 2002 2003 2004
Net Sales, Operating Income (Loss) and Net Income (Loss) Attributable to Shareholders of Toshiba Corporation
Net sales
¥5,746.4 ¥5,191.7 ¥5,441.5 ¥5,389.7
Cost of sales
4,154.5 3,913.9 3,970.2 3,913.7
Selling, general and administrative expenses
1,368.2 1,393.8 1,354.6 1,293.9
Operating income (loss)
223.7 (116.0) 116.7 182.1
Income (loss) from continuing operations, before income taxes and noncontrolling interests
189.7 (370.9) 59.6 147.6
Income taxes
93.0 (113.0) 49.0 105.6
Net income (loss) attributable to shareholders of Toshiba Corporation
96.2 (254.0) 18.5 28.8
EBITDA
*1568.5 (17.3) 341.5 414.1
Profi tability Ratios
Operating income ratio (%)
3.9 (2.2) 2.1 3.4
Return on sales (%)
1.7 (4.9) 0.3 0.5
Cost of sales ratio (%)
72.3 75.4 73.0 72.6
Selling, general and administrative expenses ratio (%)
23.8 26.8 24.9 24.0
Total Assets, Equity Attributable to Shareholders of Toshiba Corporation and Interest-bearing Debt
Total assets
5,724.6 5,407.8 5,238.9 4,462.2
Equity Attributable to Shareholders of Toshiba Corporation
1,047.9 705.3 571.1 755.0
Interest-bearing debt
1,787.6 1,818.5 1,653.4 1,199.5
Long-term debt
990.3 888.7 882.0 701.9
Short-term debt
797.3 929.8 771.4 497.6
Shareholders’ equity ratio (%)*
2
18.3 13.0 10.9 16.9
Debt/equity ratio (Times)*
3
1.7 2.6 2.9 1.6
R&D, Capital Expenditures and Depreciation
R&D expenditures
318.7 304.1 306.3 315.6
Capital expenditures (Property, plant and equipment)
267.3 344.7 227.8 224.7
Depreciation (Property, plant and equipment)
306.4 308.9 235.3 221.3
Return Indicators
Return on investment (ROI) (%)*
4
7.3 (4.1) 4.6 8.1
Return on equity (ROE) (%)*
5
9.1 (29.0) 2.9 4.3
Return on total assets (ROA) (%)*
6
1.7 (4.6) 0.3 0.6
Effi ciency Indicators
Inventory turnover (Times)*
7
6.94 6.86 8.23 8.56
Total assets turnover (Times)*
8
1.00 0.93 1.02 1.11
Inventory turnover (Days)*
9
52.62 53.18 44.37 42.62
Cash Flows
Net cash provided by (used in) operating activities
453.6 149.2 271.6 322.7
Net cash used in investing activities
(176.7) (325.6) (148.0) (189.5)
Net cash provided by (used in) fi nancing activities
(285.6) 53.5 (159.8) (132.7)
Effect of exchange rate changes on cash and cash equivalents
31.1 5.8 (7.2) (8.3)
Net increase (decrease) in cash and cash equivalents
22.4 (117.2) (43.3) (7.8)
Cash and cash equivalents at end of year
487.6 370.4 327.1 319.3
Liquidity Indicators
Debt/cash fl ow ratio (%)*
10
23.22 4.01 16.09 19.47
Interest coverage ratio (Times)*
11
5.9 (3.4) 5.4 9.3
Corporate Value
Free cash fl ow*
12
276.9 (176.4) 123.6 133.2
Market capitalization*
13
2,356.3 1,815.5 1,007.6 1,519.4
Other Data
Number of employees (Consolidated) (Thousands)
188 176 166 161
Number of employees (Non-Consolidated) (Thousands)
53 46 40 32
Ratios of Consolidated to Non-Consolidated Performance (Times) (Net sales)
1.6 1.6 1.6 1.8
54
A01_東芝様AR2011_Fact.indd 54 11.8.15 5:12:59 PM