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106 TOYOTA •Annual Report 2008 •
Financial Section
Vehicles and equipment on operating leases consist of the following:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2007 2008 2008
Vehicles............................................................................................................................................... ¥2,783,706 ¥2,814,706 $28,094
Equipment.......................................................................................................................................... 106,663 107,619 1,074
2,890,369 2,922,325 29,168
Less—Accumulated depreciation .................................................................................................... (640,997) (718,207) (7,169)
Vehicles and equipment on operating leases, net ..................................................................... ¥2,249,372 ¥2,204,118 $21,999
U.S. dollars
Years ending March 31, Yen in millions in millions
2009 ................................................................................................................................................................................... ¥ 490,471 $ 4,895
2010 ................................................................................................................................................................................... 338,887 3,382
2011 ................................................................................................................................................................................... 175,286 1,750
2012 ................................................................................................................................................................................... 53,750 537
2013 ................................................................................................................................................................................... 12,935 129
Thereafter.......................................................................................................................................................................... 8,095 81
Total minimum future rentals ...................................................................................................................................... ¥1,079,424 $10,774
The future minimum rentals as shown above should not be considered indicative of future cash collections.
Rental income from vehicles and equipment on operating leases was ¥395,870 million, ¥508,095 million and ¥588,262 million ($5,871
million) for the years ended March 31, 2006, 2007 and 2008, respectively. Future minimum rentals from vehicles and equipment on oper-
ating leases are due in installments as follows:
An analysis of activity within the allowance for doubtful accounts relating to trade accounts and notes receivable for the years ended
March 31, 2006, 2007 and 2008 is as follows:
U.S. dollars
Yen in millions in millions
For the year ended
For the years ended March 31, March 31,
2006 2007 2008 2008
Allowance for doubtful accounts at beginning of year .................................................... ¥55,751 ¥62,088 ¥58,066 $580
Provision for doubtful accounts, net of reversal ............................................................... 10,361 (841) 357 3
Write-offs.............................................................................................................................. (1,819) (3,154) (3,348) (33)
Other..................................................................................................................................... (2,205) (27) (3,012) (30)
Allowance for doubtful accounts at end of year....................................................... ¥62,088 ¥58,066 ¥52,063 $520
Vehicles and equipment on operating leases:
10
.
Allowance for doubtful accounts and credit losses:
11
.
Other receivables relate to arrangements with certain component manufacturers whereby Toyota procures inventory for these compo-
nent manufactures and is reimbursed for the related purchases.
Inventories consist of the following:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2007 2008 2008
Finished goods .................................................................................................................................. ¥1,204,521 ¥1,211,569 $12,093
Raw materials ..................................................................................................................................... 291,006 299,606 2,990
Work in process.................................................................................................................................. 236,749 239,937 2,395
Supplies and other............................................................................................................................. 71,680 74,604 744
¥1,803,956 ¥1,825,716 $18,222
Other receivables: 8.
Inventories: 9.