Sony 2015 Annual Report Download - page 80

(calculated backwards) in order to determine the necessary intermediate steps that need to be taken by fiscal 2020
(the fiscal year ending March 31, 2021) on the way to this long-term goal. Sony achieved almost all of the targets
set forth in its previous plan, “Green Management 2015,” which covered the five-year period up to and including
fiscal 2015 (the fiscal year ended March 31, 2016). With “Green Management 2020,” Sony plans to further
accelerate its various initiatives directed towards its ultimate goal of a “zero environmental footprint.”
Sony plans to also continue to participate in the WWF’s Climate Savers Programme, which aims to achieve
reductions in greenhouse gas emissions, from the fiscal year ending March 31, 2017 onwards. Climate change
targets are verified by WWF and a third-party verification body for their degrees of difficulty and progress.
Further details of the group environmental mid-term targets “Green Management 2020” and actual measures
undertaken by Sony are reported in Sony’s CSR report available on the following website:
http://www.sony.net/SonyInfo/csr_report/.
E. Off-balance Sheet Arrangements
Sony has certain off-balance sheet arrangements that provide liquidity, capital resources and/or credit risk
support.
Refer to Note 6 of the consolidated financial statements for transfers of financial asset transactions in which
Sony has relinquished control of receivables and accounted for these transfers as sales, and Note 23 of the
consolidated financial statements for various arrangements with variable interest entities, including those where
Sony is not the primary beneficiary and therefore does not consolidate the entity.
F. Contractual Obligations, Commitments, and Contingent Liabilities
The following table summarizes Sony’s contractual obligations and commitments as of March 31, 2016.
The references to the notes below refer to the corresponding notes within the consolidated financial statements.
Total
Less than
1 year
1to3
years
3to5
years
More than
5 years
(Yen in millions)
Contractual obligations and commitments:
Short-term debt (Note 11) 149,272 149,272 — — —
Long-term debt (Notes 8 and 11)
Capital lease obligations and other 43,248 17,838 12,623 8,945 3,842
Other long-term debt 701,025 169,830 272,144 70,958 188,093
Interest on other long-term debt 16,224 6,102 7,004 2,169 949
Minimum rental payments required under
operating leases (Note 8) 306,772 59,236 78,942 64,574 104,020
Purchase commitments (Note 27)
Expected cost for the production or
purchase of motion pictures and
television programming or certain rights 138,586 95,705 39,746 2,553 582
Long-term contracts with recording artists,
songwriters and companies 54,199 24,618 15,719 6,900 6,962
Long-term sponsorship contracts related to
advertising and promotional rights 15,727 5,071 9,825 159 672
Long-term contracts for programming
contents 25,741 10,938 12,268 2,535 —
Music Publishing Purchase Agreements
(Note 23) 84,549 84,549 — — —
Other purchase commitments 101,448 58,320 29,523 10,803 2,802
Future insurance policy benefits and other and
policyholders’ account in the life insurance
business* (Note 10) 19,096,699 458,534 1,003,760 1,096,997 16,537,408
Gross unrecognized tax benefits** (Note 21) 104,902 ——— —
Total 20,838,392 1,140,013 1,481,554 1,266,593 16,845,330
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