Sony 2003 Annual Report Download - page 118

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Consolidated Financial Information 2003
32
Other assets on March 31, 2003 in all segments excluding the Financial Services segment increased by 224.1
billion yen, or 21.8 percent, to 1,251.8 billion yen. This was mainly due to an increase in deferred tax assets. The
increase in deferred tax assets occurred due to an increase in the minimum pension liability adjustment and the
reversal of valuation allowances on deferred tax assets held by Aiwa because these assets became recoverable as a
result of Sony’s decision to merge with Aiwa.
Other assets on March 31, 2003 in the Financial Services segment increased by 4.0 billion yen, or 0.9 percent,
to 434.8 billion yen, compared with the previous fiscal year-end.
Liabilities
Total current and long-term liabilities on March 31, 2003, increased by 275.6 billion yen, or 4.8 percent, to
6,067.6 billion yen compared with the previous fiscal year-end. (Total liabilities on March 31, 2003 would have
increased by approximately 7 percent compared with the previous fiscal year-end if the value of the yen had
remained the same on March 31, 2003 as it was on March 31 of the previous fiscal year.) Total current and long-term
liabilities on March 31, 2003 in all segments excluding the Financial Services segment decreased by 156.4 billion yen,
or 4.1 percent, to 3,662.0 billion yen. Total current and long-term liabilities on March 31, 2003, in the Financial
Services segment increased by 410.9 billion yen, or 18.9 percent, to 2,588.7 billion yen, compared with the previous
fiscal year-end.
Current Liabilities
Current liabilities on March 31, 2003 increased by 123.4 billion yen, or 4.8 percent, to 2,435.0 billion yen
compared with the previous fiscal year-end.
Current liabilities on March 31, 2003 in all segments excluding the Financial Services segment decreased by
305.9 billion yen, or 12.9 percent, to 2,061.5 billion yen. This was due to a 203.3 billion yen, or 61.6 percent,
decrease in short-term liabilities, which include the current portion of long-term debt, to 126.7 billion yen and a 82.1
billion yen, or 10.6 percent, decrease in notes and accounts payable, trade to 693.3 billion yen. The decrease in
notes and accounts payable, trade was primarily due to a decrease in purchases that resulted from adjustments in
production in the Electronics segment in the fourth quarter of the fiscal year ended March 31, 2003.
Current liabilities on March 31, 2003 in the Financial Services segment increased by 165.5 billion yen, or 65.0
percent, to 420.2 billion yen. Deposits from customers in the banking business increased by 142.2 billion yen, or
133.6 percent, to 248.7 billion yen, due to the expansion of the banking business.
Long-term Liabilities
Long-term liabilities on March 31, 2003 increased by 399.1 billion yen, or 12.3 percent, to 3,632.6 billion yen
compared with the previous fiscal year-end.
Long-term liabilities on March 31, 2003 in all segments excluding the Financial Services segment increased by