Sony 2007 Annual Report Download - page 76

73
CONDENSED BALANCE SHEETS SEPARATING OUT THE FINANCIAL SERVICES SEGMENT (UNAUDITED) Yen in millions
Sony without
Financial Services Financial Services Consolidated
March 31 2006 2007 2006 2007 2006 2007
Assets
Current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 851,454 1,089,254 2,956,522 3,494,971 3,769,524 4,546,723
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . 117,630 277,048 585,468 522,851 703,098 799,899
Marketable securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 532,895 490,237 4,073 3,078 536,968 493,315
Notes and accounts receivable, trade . . . . . . . . . . . . . . . . . . . 17,236 29,163 973,675 1,343,128 985,508 1,369,777
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 183,693 292,806 1,393,306 1,625,914 1,543,950 1,883,732
Film costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 360,372 308,694 360,372 308,694
Investments and advances . . . . . . . . . . . . . . . . . . . . . . . . . . 3,131,269 3,347,897 474,568 623,342 3,519,907 3,888,736
Investments in Financial Services, at cost . . . . . . . . . . . . . . — — 187,400 187,400 — —
Property, plant and equipment . . . . . . . . . . . . . . . . . . . . . . . 37,422 38,671 1,351,125 1,382,860 1,388,547 1,421,531
Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 547,983 501,820 1,056,726 1,100,795 1,569,403 1,550,678
Deferred insurance acquisition costs . . . . . . . . . . . . . . . . . . . . 383,156 394,117 — —383,156 394,117
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 164,827 107,703 1,056,726 1,100,795 1,186,247 1,156,561
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,568,128 4,977,642 6,386,713 7,098,062 10,607,753 11,716,362
Liabilities and stockholders’ equity
Current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 918,338 957,459 2,329,285 2,640,601 3,200,228 3,551,852
Short-term borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 136,723 48,688 225,082 80,944 336,321 95,461
Notes and accounts payable, trade . . . . . . . . . . . . . . . . . . . . . 11,707 13,159 804,394 1,167,324 813,332 1,179,694
Deposits from customers in the banking business . . . . . . . . . . 599,952 752,367 — —599,952 752,367
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 169,956 143,245 1,299,809 1,392,333 1,450,623 1,524,330
Long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,056,191 3,380,240 1,222,597 1,500,314 4,166,572 4,754,836
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128,097 129,484 701,372 925,259 764,898 1,001,005
Accrued pension and severance costs . . . . . . . . . . . . . . . . . . . 13,479 8,773 168,768 164,701 182,247 173,474
Future insurance policy benefits and other . . . . . . . . . . . . . . . . 2,744,321 3,037,666 ——2,744,321 3,037,666
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170,294 204,317 352,457 410,354 475,106 542,691
Minority interest in consolidated subsidiaries . . . . . . . . . . . 4,089 5,145 32,623 32,808 37,101 38,970
Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 589,510 634,798 2,802,208 2,924,339 3,203,852 3,370,704
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,568,128 4,977,642 6,386,713 7,098,062 10,607,753 11,716,362
CONDENSED BALANCE SHEETS SEPARATING OUT THE
FINANCIAL SERVICES SEGMENT (UNAUDITED)
The following schedule shows an unaudited condensed balance
sheet for the Financial Services segment and all other segments
excluding Financial Services as well as the condensed consoli-
dated balance sheet. This presentation is not required under
U.S. GAAP, which is used in Sony’s consolidated financial
INVESTMENTS
Sony regularly evaluates its investment portfolio to identify other-
than-temporary impairments of individual securities. Factors that
are considered by Sony in determining whether an other-than-
temporary decline in value has occurred include: the length of
time and extent to which the market value of the security has
been less than its original cost, the financial condition, operating
results, business plans and estimated future cash flows of the
issuer of the security, other specific factors affecting the market
value, deterioration of issuer’s credit condition, sovereign risk,
and whether or not Sony is able to retain the investment for a
period of time sufficient to allow for the anticipated recovery in
market value.
In evaluating the factors for available-for-sale securities with
readily determinable fair values, management presumes a
decline in value to be other-than-temporary if the fair value of
statements. However, because the Financial Services segment
is different in nature from Sony’s other segments, Sony believes
that a comparative presentation may be useful in understanding
and analyzing Sony’s consolidated financial statements. Trans-
actions between the Financial Services segment and all other
segments excluding Financial Services are eliminated in the
consolidated figures shown below.