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56 TOSHIBA Annual Report 2014
Toshiba Corporation and Subsidiaries
March 31, 2014
Notes to Consolidated Financial Statements
The above table excludes the financial instruments for which fair value approximate their carrying amounts and those
related to leasing activities. The table also excludes marketable securities and other investments which are disclosed in
Note 6.
In assessing the fair value of these financial instruments, the Group uses a variety of methods and assumptions, which
are based on estimates of market conditions and risks existing at that time. For certain instruments, including cash and
cash equivalents, notes and accounts receivable-trade, short-term borrowings, notes and accounts payable-trade and
accounts payable-other and accrued expenses, it is assumed that the carrying amount approximated fair value for the
majority of these instruments because of their short maturities. Quoted market prices are used for a part of marketable
securities and other investments. For long-term debt, fair value is estimated using market quotes or estimated discounted
value of future cash flows when market quotes are not available, and is classified within Level 2 or Level 3. Other
techniques, such as estimated discounted value of future cash flows, and replacement cost, are used to determine fair
value for the remaining financial instruments. These fair value are not necessarily indicative of the amounts that could be
realized in a current market exchange.
The effect of derivative instruments on the consolidated statements of income for the year ended March 31, 2014 is as
follows:
Cash flow hedge:
Millions of yen
Amount of
gain (loss)
recognized in
OCI
Amount of gain (loss)
reclassified from accumulated
OCI into income (loss)
Amount of gain (loss)
recognized in income (loss)
(Ineffective portion and
amount excluded
from effectiveness testing)
Amount
recognized Location Amount
recognized Location Amount
recognized
Forward฀exchange฀contracts ¥ (143) Other income ¥ 1,299 Other expense ¥ (167)
Interest฀rate฀swap฀agreements 579
Currency options (427) Other income 99 Other income 98
Derivatives not designated as hedging instruments:
Millions of yen
Amount of gain (loss)
recognized in income (loss)
Location Amount
recognized
Forward฀exchange฀contracts Other expense ¥ (1,070)
Cash flow hedge:
Thousands of U.S. dollars
Amount of
gain (loss)
recognized in
OCI
Amount of gain (loss)
reclassified from accumulated
OCI into income (loss)
Amount of gain (loss)
recognized in income (loss)
(Ineffective portion and
amount excluded
from effectiveness testing)
Amount
recognized Location Amount
recognized Location Amount
recognized
Forward฀exchange฀contracts $ (1,388) Other income $ 12,612 Other expense $ (1,621)
Interest฀rate฀swap฀agreements 5,621
Currency options (4,145) Other income 961 Other income 951
Derivatives not designated as hedging instruments:
Thousands of U.S. dollars
Amount of gain (loss)
recognized in income (loss)
Location Amount
recognized
Forward฀exchange฀contracts Other expense $ (10,388)