Sony 2015 Annual Report Download - page 188
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SONY CORPORATION AND CONSOLIDATED SUBSIDIARIES
All derivatives are recognized as either assets or liabilities in the consolidated balance sheets on a gross
basis, but certain subsidiaries have entered into master netting agreements or other similar agreements, which are
mainly International Swaps and Derivatives Association (ISDA) Master Agreements. An ISDA Master
Agreement is an agreement between two counterparties that may have multiple derivative contracts with each
other, and such ISDA Master Agreement may provide for the net settlement of all or a specified group of these
derivative contracts, through a single payment, in a single currency, in the event of a default on or affecting any
one derivative contract, or a termination event affecting all or a specified group of derivative contracts. Presented
below are the effects of offsetting derivative assets, derivative liabilities, financial assets and financial liabilities
as of March 31, 2015 and 2016.
Yen in millions
As of March 31, 2015
Gross amounts
presented in the
consolidated
balance sheet
Gross amounts not offset in the
consolidated balance sheet that are
subject to master netting agreements
Financial
instruments
Cash
collateral Net amounts
Derivative assets subject to master
netting agreements 26,032 10,387 — 15,645
Derivative assets not subject to
master netting agreements 4,375 4,375
Total assets 30,407 10,387 — 20,020
Derivative liabilities subject to
master netting agreements 43,791 37,820 612 5,359
Derivative liabilities not subject to
master netting agreements 4,533 4,533
Total liabilities 48,324 37,820 612 9,892
Yen in millions
As of March 31, 2016
Gross amounts
presented in the
consolidated
balance sheet
Gross amounts not offset in the
consolidated balance sheet that are
subject to master netting agreements
Financial
instruments
Cash
collateral Net amounts
Derivative assets subject to master
netting agreements 10,251 6,990 312 2,949
Derivative assets not subject to
master netting agreements 7,577 7,577
Total assets 17,828 6,990 312 10,526
Derivative liabilities subject to
master netting agreements 46,328 28,527 8,269 9,532
Derivative liabilities not subject to
master netting agreements 2,807 2,807
Repurchase, securities lending and
similar arrangements 62,805 61,864 — 941
Total liabilities 111,940 90,391 8,269 13,280
F-54