Toyota 2015 Annual Report Download - page 85

All Other Operations Segment
Net revenues for Toyota’s other operations segments increased by ¥104.5 billion, or 9.1%, to
¥1,255.7 billion during fiscal 2015 compared with the prior fiscal year.
Operating income from Toyota’s other operations segments increased by ¥1.3 billion, or 2.1%, to
¥65.6 billion during fiscal 2015 compared with the prior fiscal year.
Related Party Transactions
Toyota does not have any significant related party transactions other than transactions with affiliated
companies in the ordinary course of business. See note 11 to the consolidated financial statements for further
discussion.
Recent Accounting Pronouncements in the United States
In May 2014, the Financial Accounting Standards Board (“FASB”) issued updated guidance on the
recognition of revenue from contracts with customers. This guidance will supersede the current revenue
recognition guidance. In August 2015, the FASB issued updated guidance on the deferral of the effective date.
As a result, this guidance is effective for annual reporting periods beginning after December 15, 2017, including
interim periods within that reporting period. Management is evaluating the impact of adopting this guidance on
Toyota’s consolidated financial statements.
In February 2015, the FASB issued updated guidance that amends the analysis a reporting entity must
perform to determine whether it should consolidate certain legal entities. This guidance is effective for fiscal
years, and for interim periods within those fiscal years, beginning after December 15, 2015. Management is
evaluating the impact of adopting this guidance on Toyota’s consolidated financial statements.
In April 2015, the FASB issued updated guidance that requires debt issuance costs related to a recognized
debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt
liability instead of being presented as an asset. In August 2015, the FASB issued an additional update which
clarifies that debt issuance costs for line of credit agreements may continue to be deferred and amortized. This
guidance is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal
years. Management does not expect this guidance to have a material impact on Toyota’s consolidated financial
statements.
In April 2015, the FASB issued updated guidance to help entities evaluate the accounting for fees paid by a
customer in a cloud computing arrangement. This guidance is effective for annual periods, including interim
periods within those annual periods, beginning after December 15, 2015. Management is evaluating the impact of
adopting this guidance on Toyota’s consolidated financial statements.
In May 2015, the FASB issued updated guidance on disclosures for investments in certain entities that
calculate net asset value per share. This guidance removes the requirement to categorize within the fair value
hierarchy all investments for which fair value is measured using the net asset value per share practical expedient.
This guidance is effective for fiscal years beginning after December 15, 2015, including interim periods within
those fiscal years. Management is evaluating the impact of adopting this guidance on Toyota’s consolidated
financial statements.
In July 2015, the FASB issued updated guidance to simplify the measurement of inventory. This guidance is
effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years.
Management is evaluating the impact of adopting this guidance on Toyota’s consolidated financial statements.
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