MITSUBISHI ESTATE Annual Report 2014

The following debts included in long-term debt are non-recourse loans at March 31, 2014 and 2013, which are secured by collaterals as the ultimate sources of repayment.Millions of yenThousands of U.S. dollars201420132014Current portion of long-term debt:Bonds¥  4,647—$   45,156 Long-term borrowings174,061—1,691,229Bonds—¥  4,664—Long-term borrowings—174,635— Total¥178,708¥179,299$1,736,385 The repayment sources at March 31, 2014 and 2013 are the following assets and their accompaniments.Millions of yenThousands of U.S. dollars201420132014Cash on hand and in banks¥  16,307¥  15,693$   158,450Notes and accounts receivable – trade1,8341,10317,820Buildings and structures43,82145,692425,786Machinery and equipment1381551,345Land123,721137,5051,202,115Construction in progress3543533,446Other property and equipment1,9892,17119,331Total¥188,168¥202,675$1,828,298 7 Retirement Benefit PlansFor the year ended March 31, 2014The Company and most of its domestic consolidated subsidiaries have either funded or unfunded defined benefit plans, defined contribution plans and lump-sum payment plans in the form of a defined benefit plan. The Company has adopted a retirement benefit trust for the lump-sum payment plan and defined benefit plan. Rockefeller Group, Inc., a foreign consolidated subsidiary of the Company, has adopted defined benefit plans.The simplified method, which assumes retirement benefit obligation to be equal to the benefits payable if all eligible employees voluntarily terminated their employment at the fiscal year end, has been adopted in accounting for defined benefit plans for some consolidated subsidiaries and the Company’s executive officers.The changes in the retirement benefit obligation during the year ended March 31, 2014 are as follows:Millions of yenThousands of U.S. dollarsRetirement benefit obligation at April 1, 2013¥108,134$1,050,666 Service cost4,735 46,011 Interest cost1,621 15,750 Actuarial gain(1,651)(16,042)Retirement benefit paid(4,387)(42,626)Prior service cost30 299 Foreign currency translation adjustments2,902 28,201 Other(1,541)(14,976)Retirement benefit obligation at March 31, 2014¥109,844$1,067,284 The changes in plan assets during the year ended March 31, 2014 are as follows:Millions of yenThousands of U.S. dollarsPlan assets at April 1, 2013¥80,940$786,441Expected return on plan assets1,93318,782Actuarial gain9,96696,838Contributions by the Company4,48943,624Retirement benefits paid(3,059)(29,722)Foreign currency translation adjustments1,80117,504Other(563)(5,472)Plan assets at March 31, 2014¥95,509$927,995ANNUAL REPORT 201461