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TOYOTA ANNUAL REPORT 2012
Toyota Global Vision Changes for Making
Ever-Better Cars President
ʼ
s Message Medium- to Long-Term
Growth Initiatives Special Feature Management and
Corporate Information Investor Information
Business and
Performance Review Financial Section
Management's Discussion and Analysis of Financial Condition and Results of Operations
collateral or guarantees may not be sufficient to
cover Toyota
ʼ
s exposure under such agreements.
Toyota prices the credit facilities according to
the risks assumed in entering into the credit
facility. Toyota
ʼ
s financial services operations
also provide financing to various multi-franchise
dealer organizations, referred to as dealer
groups, often as part of a lending consortium,
for wholesale inventory financing, business
acquisitions, facilities refurbishment, real estate
purchases, and working capital requirements.
Toyota
ʼ
s outstanding credit facilities with dealers
totaled ¥1,615.7 billion as of March 31, 2012.
Toyota enters into certain guarantee contracts
with its dealers to guarantee customers
ʼ
payments of their installment payables that arise
The following tables summarize Toyota
ʼ
s contractual obligations and commercial commitments as
of March 31, 2012.
from installment contracts between customers
and Toyota dealers, as and when requested by
Toyota dealers. Guarantee periods are set to
match the maturity of installment payments, and
as of March 31, 2012, ranged from one month to
35 years. However, they are generally shorter
than the useful lives of products sold. Toyota
is required to execute its guarantee primarily
when customers are unable to make required
payments.
The maximum potential amount of future
payments as of March 31, 2012 is ¥1,695.1 billion.
Liabilities for these guarantees of ¥13.9 billion
have been provided as of March 31, 2012. Under
these guarantee contracts, Toyota is entitled
to recover any amounts paid by it from the
customers whose obligations it guaranteed.
■
Guarantees
For information regarding debt obligations, capital
lease obligations, operating lease obligations and
other obligations, including amounts maturing
in each of the next five years, see notes 13, 22
and 23 to the consolidated financial statements.
In addition, as part of Toyota
ʼ
s normal business
practices, Toyota enters into long-term
Toyota is unable to make reasonable estimates
of the period of cash settlement with respect to
liabilities recognized for uncertain tax benefits,
and accordingly such liabilities are excluded from
arrangements with suppliers for purchases of
certain raw materials, components and services.
These arrangements may contain fixed/minimum
quantity purchase requirements. Toyota enters
into such arrangements to facilitate an adequate
supply of these materials and services.
the table above. See note 16 to the consolidated
financial statements for further discussion.
Toyota expects to contribute ¥104,943 million
to its pension plans in fiscal 2013.
Contractual Obligations and Commitments
Yen in millions
Payments Due by Period
Total Less than
1 year 1 to 3
years 3 to 5
years 5 years
and after
Contractual Obligations
：
Short-term borrowings
(
note 13
)
Loans ¥ 1,158,556 ¥1,158,556 ¥
—
¥
—
¥
—
Commercial paper 2,292,093 2,292,093
—
—
—
Long-term debt*
(
note 13
)
8,533,549 2,508,445 2,953,108 2,028,170 1,043,826
Capital lease obligations
(
note 13
)
21,348 4,175 4,661 3,356 9,156
Non-cancelable operating lease
obligations
(
note 22
)
56,365 10,375 14,498 10,839 20,653
Commitments for the purchase of property,
plant and other assets
(
note 23
)
73,004 54,607 2,945 6,326 9,126
Total ¥12,134,915 ¥6,028,251 ¥2,975,212 ¥2,048,691 ¥1,082,761
Yen in millions
Total
Amounts
Committed
Amount of Commitment Expiration Per Period
Less than
1 year 1 to 3
years 3 to 5
years 5 years
and after
Commercial Commitments
(
note 23
)
：
Maximum potential exposure to guarantees
given in the ordinary course of business
¥1,695,140 ¥ 473,844 ¥ 752,482 ¥ 334,764 ¥ 134,050
Total Commercial Commitments ¥1,695,140 ¥ 473,844 ¥ 752,482 ¥ 334,764 ¥ 134,050
*
“
Long-term debt
”
represents future principal payments.
0820
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