Toyota 2010 Annual Report Download - page 78

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TOYOTA ANNUAL REPORT 2010 76
Short-term borrowings at March 31, 2009 and 2010 consist of the following:
Yen in millions
U.S. dollars
in millions
March 31, March 31,
2009 2010 2010
Loans, principally from banks, with a weighted-average interest at
March 31, 2009 and March 31, 2010 of 2.44% and of 1.55% per
annum, respectively ································································································· ¥1,115,122 ¥ 804,066 $ 8,642
Commercial paper with a weighted-average interest at March 31,
2009 and March 31, 2010 of 1.52% and of 0.44% per annum,
respectively ··················································································································· 2,502,550 2,475,607 26,608
¥3,617,672 ¥3,279,673 $35,250
As of March 31, 2010, Toyota has unused short-
term lines of credit amounting to ¥2,306,265
million ($24,788 million) of which ¥504,339
million ($5,421 million) related to commercial
paper programs. Under these programs, Toyota
is authorized to obtain short-term fi nancing at
prevailing interest rates for periods not in excess
of 360 days.
Long-term debt at March 31, 2009 and 2010 comprises the following:
Yen in millions
U.S. dollars
in millions
March 31, March 31,
2009 2010 2010
Unsecured loans, representing obligations principally to banks, due
2009 to 2028 in 2009 and due 2010 to 2029 in 2010 with interest
ranging from 0.17% to 31.50% per annum in 2009 and from 0.00%
to 29.25% per annum in 2010 ·············································································
¥ 1,536,413 ¥ 2,942,012 $ 31,621
Secured loans, representing obligations principally to banks due
2009 to 2019 in 2009 and fi nance receivables securitization due
2010 to 2019 in 2010 with interest ranging from 0.68% to 5.35%
per annum in 2009 and from 0.49% to 6.65% per annum in 2010 11,227 381,307 4,098
Medium-term notes of consolidated subsidiaries, due 2009 to 2047
in 2009 and due 2010 to 2047 in 2010 with interest ranging from
0.19% to 17.47% per annum in 2009 and from 0.04% to 15.25% per
annum in 2010············································································································· 5,335,159 3,814,439 40,998
Unsecured notes of parent company, due 2010 to 2018 in 2009 and
due 2010 to 2019 in 2010 with interest ranging from 1.33% to
3.00% per annum in 2009 and from 1.07% to 3.00% per annum in
2010 ··································································································································· 450,000 580,000 6,234
Unsecured notes of consolidated subsidiaries, due 2009 to 2031 in
2009 and due 2010 to 2031 in 2010 with interest ranging from
0.59% to 19.42% per annum in 2009 and from 0.25% to 17.03% per
annum in 2010············································································································· 1,616,816 1,473,732 15,840
Long‒term capital lease obligations, due 2009 to 2028 in 2009 and
due 2010 to 2028 in 2010 with interest ranging from 0.21% to
15.47% per annum in 2009 and from 0.43% to 14.40% per annum
in 2010······························································································································ 51,366 42,243 454
9,000,981 9,233,733 99,245
Less ‒ Current portion due within one year ···················································· (2,699,512) (2,218,324) (23,843)
¥ 6,301,469 ¥ 7,015,409 $ 75,402
The aggregate amounts of annual maturities of long-term debt during the next fi ve years are as follows:
Years ending March 31, Yen in
millions
U.S. dollars
in millions
2011 ········································································································································································ ¥2,218,324 $23,843
2012 ········································································································································································ 2,148,481 23,092
2013 ········································································································································································ 2,087,820 22,440
2014 ········································································································································································ 740,848 7,963
2015 ········································································································································································ 726,090 7,804
Standard agreements with certain banks in
Japan include provisions that collateral (including
sums on deposit with such banks) or guarantees
will be furnished upon the banks request and
that any collateral furnished, pursuant to such
agreements or otherwise, will be applicable to
all present or future indebtedness to such banks.
During the year ended March 31, 2010, Toyota
has not received any signifi cant such requests
from these banks.
As of March 31, 2010, Toyota has unused long-
term lines of credit amounting to ¥5,667,638
million ($60,916 million).
Toyota provides product warranties for certain
defects mainly resulting from manufacturing
based on warranty contracts with its customers
at the time of sale of products. Toyota accrues
estimated warranty costs to be incurred in the
future in accordance with the warranty contracts.
The net change in the accrual for the product
warranties for the years ended March 31, 2008,
2009 and 2010, which is included in Accrued
expenses in the accompanying consolidated
balance sheets, consist of the following:
As of March 31, 2010, approximately 36%, 21%,
13% and 30% of long-term debt are denominated
in Japanese yen, U.S. dollars, euros, and other
currencies, respectively.
As of March 31, 2010, property, plant and
equipment with a book value of ¥82,866 million
($891 million) and in addition, other assets
aggregating ¥388,439 million ($4,175 million)
were pledged as collateral mainly for certain
debt obligations of subsidiaries. These other
assets principally consist of securitized fi nance
receivables.
Financial Section
Financial Section
Investor Information
Corporate Information
Special Feature
Consolidated
Performance Highlights
Business Overview
Top Messages
Notes to Consolidated Financial Statements
Short-term borrowings and long-term debt:
13
Product warranties:
14