Toshiba 2012 Annual Report Download - page 101
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31
TOSHIBA Annual Report 2012
Thousands of U.S. dollars
March 31, 2012 Level 1 Level 2 Level 3 Total
Assets:
Marketable securities:
Equity securities $ 2,126,683 $ 5,220 $ − $ 2,131,903
Debt securities − − 37,402 37,402
Derivative assets:
Forward exchange contracts − 56,207 − 56,207
Total assets $ 2,126,683 $ 61,427 $ 37,402 $ 2,225,512
Liabilities:
Derivative liabilities:
Forward exchange contracts $ − $ 72,049 $ − $ 72,049
Interest rate swap agreements − 20,280 − 20,280
Currency swap agreements − 5,671 − 5,671
Total liabilities $ − $ 98,000 $ − $ 98,000
Marketable securities
Level 1 securities represent marketable equity securities listed in active markets, which are valued based on quoted
market prices in active markets with sufficient volume and frequency of transactions. Level 2 securities represent
marketable equity securities listed in less active markets, which are valued based on quoted market prices for identical
assets in inactive markets. Level 3 securities represent corporate debt securities and valued based on unobservable inputs
as the markets for the assets are not active at the measurement date.
Derivative instruments
Derivative instruments principally represent forward currency exchange contracts and interest rate swap agreements,
which are classified within Level 2. They are valued based on inputs that can be corroborated with the observable inputs
such as foreign currency exchange rate, LIBOR and others.
Analyses of the changes in Level 3 assets measured at fair value on a recurring basis for the years ended March 31, 2012
and 2011 are as follows:
Millions of yen
Year ended March 31, 2012 Marketable securities
Balance at beginning of year ¥ 5
Total gains or losses (realized or unrealized):
Included in other comprehensive income (loss):
Net unrealized gains and losses on securities (143)
Purchases 3,205
Sales −
Issuances −
Settlements −
Balance at end of year ¥ 3,067