Annual Report 2012


>> P.59

10.RETIREMENTBENEfiTSTHEFOLLOWINGTABLESETSFORTHTHEFUNDEDANDACCRUEDSTATUSOFTHEPENSIONPLANSANDTHEAMOUNTSRECOGNIZEDINTHEACCOMPANYINGCONSOLIDATEDBALANCESHEETSASOFMARCH31,2012AND2011FORTHECOMPANY’SANDITSCONSOLIDATEDSUBSIDIARIES’DEfiNEDBENEfiTPEN-SIONPLANS:MILLIONSOFYENTHOUSANDSOFU.S.DOLLARS201220112012RETIREMENTBENEfiTOBLIGATION*¥(24,169)¥(24,596)$(294,062)FAIRVALUEOFPENSIONPLANASSETS16,60815,990202,068NETUNFUNDEDBENEfiTOBLIGATION(7,561)(8,606)(91,994)UNRECOGNIZEDACTUARIALDIFFERENCES6421,1307,811UNRECOGNIZEDPASTSERVICECOST3364864,088NETRETIREMENTBENEfiTOBLIGATION(6,583)(6,990)(80,095)PREPAIDPENSIONCOST94380411,473ALLOWANCEFOREMPLOYEES’RETIREMENTBENEfiTS¥(7,526)¥(7,794)$(91,568)*CERTAINDOMESTICCONSOLIDATEDSUBSIDIARIESHAVECALCULATEDTHEIRRETIREMENTBENEfiTOBLIGA-TIONBASEDONTHEAMOUNTWHICHWOULDBEPAYABLEATTHEYEARENDIFALLELIGIBLEEMPLOYEESTERMINATEDTHEIRSERVICESVOLUNTARILY.THECOMPONENTSOFRETIREMENTBENEfiTEXPENSESFORTHEYEARSENDEDMARCH31,2012AND2011AREOUTLINEDASFOLLOWS:MILLIONSOFYENTHOUSANDSOFU.S.DOLLARS201220112012SERVICECOST*¥1,657¥1,785$20,161INTERESTCOST3733964,538EXPECTEDRETURNONPENSIONPLANASSETS(124)(145)(1,509)AMORTIZATION:ACTUARIALDIFFERENCES1853642,251PASTSERVICECOST1001251,217CONTRIBUTIONTODEfiNEDCONTRIBUTIONPENSIONPLAN83801,010TOTALRETIREMENTBENEfiTEXPENSES¥2,274¥2,605$27,668*RETIREMENTBENEfiTEXPENSESFORCERTAINDOMESTICCONSOLIDATEDSUBSIDIARIES,WHOSEBEN-EfiTOBLIGATIONISCALCULATEDBASEDONTHEAMOUNTPAYABLEATTHEYEARENDIFALLELIGIBLEEMPLOYEESTERMINATEDTHEIRSERVICESVOLUNTARILY(ASIMPLIfiEDMETHOD),HAVEBEENFULLYIN-CLUDEDINSERVICECOST.THEASSUMPTIONSUSEDINACCOUNTINGFORTHEABOVEPLANSFORTHEYEARSENDEDMARCH31,2012AND2011AREASFOLLOWS:20122011DISCOUNTRATEMAINLY2.0%MAINLY2.0%EXPECTEDRATESOFRETURNONPLANASSETSMAINLY0.60%MAINLY0.80%THOUSANDSOFU.S.DOLLARSATMARCH31,2012VESSELSEQUIPMENTOTHERTOTALACQUISITIONCOSTS$272,697$381,531$21,414$675,642ACCUMULATEDDEPRECIATION(61,358)(334,907)(12,946)(409,211)NETBOOKVALUE$211,339$46,624$8,468$266,431LEASEPAYMENTSRELATEDTOfiNANCELEASESACCOUNTEDFORASOPERATINGLEASESANDDEPRECIATIONANDINTERESTEXPENSEFORTHEYEARSENDEDMARCH31,2012AND2011ARESUMMARIZEDASFOLLOWS:MILLIONSOFYENTHOUSANDSOFU.S.DOLLARS201220112012LEASEPAYMENTS¥4,830¥5,578$58,766DEPRECIATION4,6855,41457,002INTERESTEXPENSE6288187,641FUTUREMINIMUMLEASEPAYMENTSSUBSEQUENTTOMARCH31,2012FORfiNANCELEASESACCOUNTEDFORASOPERATINGLEASESARESUMMARIZEDASFOLLOWS:YEARENDINGMARCH31,MILLIONSOFYENTHOUSANDSOFU.S.DOLLARS2013¥3,122$37,9852014ANDTHEREAFTER15,382187,152TOTAL¥18,504$225,137FUTUREMINIMUMLEASEPAYMENTSORRECEIPTSSUBSEQUENTTOMARCH31,2012FORNON-CANCELLABLEOPERATINGLEASESARESUMMARIZEDASFOLLOWS:(ASLESSEES)YEARENDINGMARCH31,MILLIONSOFYENTHOUSANDSOFU.S.DOLLARS2013¥20,548$250,0062014ANDTHEREAFTER97,3811,184,828TOTAL¥117,929$1,434,834(ASLESSORS)YEARENDINGMARCH31,MILLIONSOFYENTHOUSANDSOFU.S.DOLLARS2013¥351$4,2712014ANDTHEREAFTER6317,677TOTAL¥982$11,94859ANNUALREPORT2012


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