Sony 2001 Annual Report Download - page 90

Sony Corporation Annual Report 2001
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FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA
Sony Corporation and Consolidated Subsidiaries • Year ended March 31
Dollars in
Yen in millions millions except
except per share amounts per share amounts
1997 1998 1999 2000 2001 2001
FOR THE YEAR
Sales and operating revenue . . ¥5,658,253 ¥6,761,004 ¥6,804,182 ¥6,686,661 ¥7,314,824 $58,518
Operating income . . . . . . . . . . 352,475 514,094 338,061 223,204 225,346 1,803
Income before income taxes . . 307,548 459,263 377,691 264,310 265,868 2,127
Income taxes . . . . . . . . . . . . . 163,570 214,868 176,973 94,644 115,534 924
Income before cumulative effect
of accounting changes . . . . . 139,460 222,068 179,004 121,835 121,227 970
Net income . . . . . . . . . . . . . . . 139,460 222,068 179,004 121,835 16,754 134
Per share data*:
Income before cumulative effect
of accounting changes
— Basic . . . . . . . . . . . . . . . . ¥ 183.87 ¥ 278.85 ¥ 218.43 ¥ 144.58 ¥132.64 $ 1.06
— Diluted . . . . . . . . . . . . . . 154.58 241.68 195.51 131.70 124.36 0.99
Net income
— Basic . . . . . . . . . . . . . . . . 183.87 278.85 218.43 144.58 18.33 0.15
— Diluted . . . . . . . . . . . . . . 154.58 241.68 195.51 131.70 19.28 0.15
Cash dividends . . . . . . . . . . . 27.50 30.00 25.00 25.00 25.00 0.20
Depreciation and amortization ** . . ¥ 266,532 ¥ 301,665 ¥ 307,173 ¥ 306,505 ¥348,268 $ 2,786
Capital expenditures
(additions to fixed assets) . . . 298,078 387,955 353,730 435,887 465,209 3,722
R&D expenses . . . . . . . . . . . . . 282,569 318,044 375,314 394,479 416,708 3,334
AT YEAR-END
Net working capital . . . . . . . . . ¥ 754,648 ¥1,045,943 ¥1,030,463 ¥ 861,674 ¥830,734 $ 6,646
Stockholders’ equity . . . . . . . . . 1,459,332 1,815,555 1,823,665 2,182,906 2,315,453 18,524
Stockholders’ equity per share *. . ¥ 1,899.31 ¥ 2,230.69 ¥ 2,224.35 ¥ 2,409.36 ¥2,521.19 $ 20.17
Total assets . . . . . . . . . . . . . . . ¥5,680,246 ¥6,403,043 ¥6,299,053 ¥6,807,197 ¥7,827,966 $62,624
Number of shares issued at
year-end (thousands of shares) *. . 384,185 407,195 410,439 453,639 919,617
* Per share data have been adjusted for all years to reflect the two-for-one stock split that has been completed on May 19, 2000. However, no
adjustment to reflect such stock split has been made to the number of shares issued at prior year-ends.
** Including amortization expenses for intangible assets and for deferred insurance acquisition costs.
Notes: 1. U.S. dollar amounts have been translated from yen, for convenience only, at the rate of ¥125=U.S.$1, the approximate Tokyo foreign
exchange market rate as of March 30, 2001.
2. Cash dividends per share for the year ended March 31, 2001 include a dividend which is subject to approval of the Ordinary General
Meeting of Shareholders to be held on June 21, 2001.
3. Effective as of April 1, 2000, Sony adopted Statement of Position (“SOP”) 00-2, “Accounting by Producers or Distributors of Films” issued
by the Accounting Standards Executive Committee of the American Institute of Certified Public Accountants. As a result, Sony’s operating
income, income before income taxes, and net income for the year ended March 31, 2001 each decreased by approximately ¥28.5 billion ($228
million). Additionally, Sony’s net income for the fiscal year ended March 31, 2001 decreased by ¥101.7 billion ($813 million), reflecting a
one-time non-cash cumulative effect adjustment in the income statement directly above the caption of “net income” for a change in
accounting principle.
4. As a result of the adoption of SOP 00-2, film costs related to theatrical and television product at prior year-ends, which were previously
recorded in inventories in accordance with Statement of Financial Accounting Standards No. 53, have been reclassified to film costs which
are included in non-current assets. Also as a result, net working capital at all prior year-ends have been restated to conform to the
presentation at March 31, 2001.
5. Effective as of April 1, 2000, Sony adopted Staff Accounting Bulletin (“SAB”) No. 101, “Revenue Recognition in Financial Statements”
issued by the United States of America Securities and Exchange Commission. As a result, a one-time non-cash cumulative effect adjustment
of ¥2.8 billion ($23 million) was recorded in the income statement directly above the caption of “net income” for a change in accounting
principle. The accounting change did not have a material effect on Sony’s consolidated financial results.
6. Effective with the year ended March 31, 2001, net loss on sale, disposal or impairment of long-lived assets, which was previously included
in other income/expense and shown below operating income, is included in selling, general and administrative expense and shown above
operating income. As a result, operating income for all prior years has been restated to conform to the presentation for the fiscal year
ended March 31, 2001.