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v2.3.0.11

Fair Value Measurements (Tables) | 12 Months Ended
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Mar. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents recorded amounts of major financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2010 and March 31, 2011:
|  | March 31, 2010 |
|  | Millions of yen |
|  | Total Carrying Value in Consolidated Balance Sheets |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trading securities |  | ¥ | 49,596 |  |  | ¥ | 1,157 |  |  | ¥ | 48,386 |  |  | ¥ | 53 |
Available-for-sale securities |  |  | 845,234 |  |  |  | 67,224 |  |  |  | 376,206 |  |  |  | 401,804 |
Japanese and foreign government bond securities |  |  | 146,453 |  |  |  | 0 |  |  |  | 146,453 |  |  |  | 0 |
Japanese prefectural and foreign municipal bond securities |  |  | 19,247 |  |  |  | 0 |  |  |  | 19,247 |  |  |  | 0 |
Corporate debt securities |  |  | 199,291 |  |  |  | 0 |  |  |  | 192,450 |  |  |  | 6,841 |
Specified bonds issued by SPEs in Japan |  |  | 246,305 |  |  |  | 0 |  |  |  | 0 |  |  |  | 246,305 |
CMBS and RMBS in the U.S., and other asset-backed securities |  |  | 149,358 |  |  |  | 0 |  |  |  | 700 |  |  |  | 148,658 |
Equity securities |  |  | 84,580 |  |  |  | 67,224 |  |  |  | 17,356 |  |  |  | 0 |
Other securities |  |  | 14,692 |  |  |  | 0 |  |  |  | 14,692 |  |  |  | 0 |
Investment funds |  |  | 14,692 |  |  |  | 0 |  |  |  | 14,692 |  |  |  | 0 |
Derivative assets |  |  | 17,074 |  |  |  | 1,015 |  |  |  | 15,531 |  |  |  | 528 |
Interest rate swap agreements |  |  | 192 |  |  |  | 0 |  |  |  | 192 |  |  |  | 0 |
Options held/written, caps held |  |  | 555 |  |  |  | 2 |  |  |  | 553 |  |  |  | 0 |
Futures, Foreign exchange contracts |  |  | 2,075 |  |  |  | 1,013 |  |  |  | 1,062 |  |  |  | 0 |
Foreign currency swap agreements |  |  | 13,724 |  |  |  | 0 |  |  |  | 13,724 |  |  |  | 0 |
Credit derivatives held/written |  |  | 528 |  |  |  | 0 |  |  |  | 0 |  |  |  | 528 |
|  | ¥ | 926,596 |  |  | ¥ | 69,396 |  |  | ¥ | 454,815 |  |  | ¥ | 402,385 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  | ¥ | 31,975 |  |  | ¥ | 660 |  |  | ¥ | 31,280 |  |  | ¥ | 35 |
Interest rate swap agreements |  |  | 2,956 |  |  |  | 0 |  |  |  | 2,956 |  |  |  | 0 |
Options held/written, caps held |  |  | 189 |  |  |  | 0 |  |  |  | 189 |  |  |  | 0 |
Futures, Foreign exchange contracts |  |  | 5,737 |  |  |  | 660 |  |  |  | 5,077 |  |  |  | 0 |
Foreign currency swap agreements |  |  | 23,053 |  |  |  | 0 |  |  |  | 23,053 |  |  |  | 0 |
Credit derivatives held/written |  |  | 40 |  |  |  | 0 |  |  |  | 5 |  |  |  | 35 |
|  | ¥ | 31,975 |  |  | ¥ | 660 |  |  | ¥ | 31,280 |  |  | ¥ | 35 |
|  | March 31, 2011 |
|  | Millions of yen |
|  | Total Carrying Value in Consolidated Balance Sheets |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trading securities |  | ¥ | 71,991 |  |  | ¥ | 763 |  |  | ¥ | 71,228 |  |  | ¥ | 0 |
Available-for-sale securities |  |  | 883,410 |  |  |  | 74,914 |  |  |  | 492,820 |  |  |  | 315,676 |
Japanese and foreign government bond securities |  |  | 169,345 |  |  |  | 19,995 |  |  |  | 149,350 |  |  |  | 0 |
Japanese prefectural and foreign municipal bond securities |  |  | 34,968 |  |  |  | 0 |  |  |  | 34,968 |  |  |  | 0 |
Corporate debt securities |  |  | 292,032 |  |  |  | 0 |  |  |  | 289,459 |  |  |  | 2,573 |
Specified bonds issued by SPEs in Japan |  |  | 222,314 |  |  |  | 0 |  |  |  | 0 |  |  |  | 222,314 |
CMBS and RMBS in the U.S., and other asset-backed securities |  |  | 93,380 |  |  |  | 0 |  |  |  | 2,591 |  |  |  | 90,789 |
Equity securities |  |  | 71,371 |  |  |  | 54,919 |  |  |  | 16,452 |  |  |  | 0 |
Other securities |  |  | 10,023 |  |  |  | 0 |  |  |  | 10,023 |  |  |  | 0 |
Investment funds |  |  | 10,023 |  |  |  | 0 |  |  |  | 10,023 |  |  |  | 0 |
Derivative assets |  |  | 22,985 |  |  |  | 1,306 |  |  |  | 18,497 |  |  |  | 3,182 |
Interest rate swap agreements |  |  | 2,070 |  |  |  | 0 |  |  |  | 2,070 |  |  |  | 0 |
Options held/written, caps held and other |  |  | 3,467 |  |  |  | 0 |  |  |  | 333 |  |  |  | 3,134 |
Futures, Foreign exchange contracts |  |  | 2,633 |  |  |  | 1,306 |  |  |  | 1,327 |  |  |  | 0 |
Foreign currency swap agreements |  |  | 14,766 |  |  |  | 0 |  |  |  | 14,766 |  |  |  | 0 |
Credit derivatives held/written |  |  | 49 |  |  |  | 0 |  |  |  | 1 |  |  |  | 48 |
|  | ¥ | 988,409 |  |  | ¥ | 76,983 |  |  | ¥ | 592,568 |  |  | ¥ | 318,858 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  | ¥ | 42,076 |  |  | ¥ | 977 |  |  | ¥ | 40,863 |  |  | ¥ | 236 |
Interest rate swap agreements |  |  | 1,320 |  |  |  | 0 |  |  |  | 1,320 |  |  |  | 0 |
Options held/written, caps held and other |  |  | 2,071 |  |  |  | 0 |  |  |  | 2,071 |  |  |  | 0 |
Futures, Foreign exchange contracts |  |  | 4,968 |  |  |  | 977 |  |  |  | 3,991 |  |  |  | 0 |
Foreign currency swap agreements |  |  | 33,481 |  |  |  | 0 |  |  |  | 33,481 |  |  |  | 0 |
Credit derivatives held/written |  |  | 236 |  |  |  | 0 |  |  |  | 0 |  |  |  | 236 |
|  | ¥ | 42,076 |  |  | ¥ | 977 |  |  | ¥ | 40,863 |  |  | ¥ | 236 |
|  | March 31, 2011 |
|  | Millions of U.S. dollars |
|  | Total Carrying Value in Consolidated Balance Sheets |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Financial Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trading securities |  | $ | 866 |  |  | $ | 9 |  |  | $ | 857 |  |  | $ | 0 |
Available-for-sale securities |  |  | 10,624 |  |  |  | 901 |  |  |  | 5,926 |  |  |  | 3,797 |
Japanese and foreign government bond securities |  |  | 2,037 |  |  |  | 241 |  |  |  | 1,796 |  |  |  | 0 |
Japanese prefectural and foreign municipal bond securities |  |  | 420 |  |  |  | 0 |  |  |  | 420 |  |  |  | 0 |
Corporate debt securities |  |  | 3,512 |  |  |  | 0 |  |  |  | 3,481 |  |  |  | 31 |
Specified bonds issued by SPEs in Japan |  |  | 2,674 |  |  |  | 0 |  |  |  | 0 |  |  |  | 2,674 |
CMBS and RMBS in the U.S., and other asset-backed securities |  |  | 1,123 |  |  |  | 0 |  |  |  | 31 |  |  |  | 1,092 |
Equity securities |  |  | 858 |  |  |  | 660 |  |  |  | 198 |  |  |  | 0 |
Other securities |  |  | 121 |  |  |  | 0 |  |  |  | 121 |  |  |  | 0 |
Investment funds |  |  | 121 |  |  |  | 0 |  |  |  | 121 |  |  |  | 0 |
Derivative assets |  |  | 276 |  |  |  | 16 |  |  |  | 222 |  |  |  | 38 |
Interest rate swap agreements |  |  | 25 |  |  |  | 0 |  |  |  | 25 |  |  |  | 0 |
Options held/written, caps held and other |  |  | 41 |  |  |  | 0 |  |  |  | 4 |  |  |  | 37 |
Futures, Foreign exchange contracts |  |  | 32 |  |  |  | 16 |  |  |  | 16 |  |  |  | 0 |
Foreign currency swap agreements |  |  | 177 |  |  |  | 0 |  |  |  | 177 |  |  |  | 0 |
Credit derivatives held/written |  |  | 1 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1 |
|  | $ | 11,887 |  |  | $ | 926 |  |  | $ | 7,126 |  |  | $ | 3,835 |
Financial Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  | $ | 506 |  |  | $ | 12 |  |  | $ | 491 |  |  | $ | 3 |
Interest rate swap agreements |  |  | 16 |  |  |  | 0 |  |  |  | 16 |  |  |  | 0 |
Options held/written, caps held and other |  |  | 25 |  |  |  | 0 |  |  |  | 25 |  |  |  | 0 |
Futures, Foreign exchange contracts |  |  | 60 |  |  |  | 12 |  |  |  | 48 |  |  |  | 0 |
Foreign currency swap agreements |  |  | 402 |  |  |  | 0 |  |  |  | 402 |  |  |  | 0 |
Credit derivatives held/written |  |  | 3 |  |  |  | 0 |  |  |  | 0 |  |  |  | 3 |
|  | $ | 506 |  |  | $ | 12 |  |  | $ | 491 |  |  | $ | 3 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table presents the reconciliation of financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during fiscal year 2009, 2010 and 2011:
|  | 2009 |
|  | Millions of yen |
|  | Balance at April 1, 2008 |  |  | Gains or losses (realized/ unrealized) |  |  | Purchase, sales, and settlements (net) |  |  | Transfers in and/ or out of Level 3 (net) *2 |  |  | Balance at March 31, 2009 |  |  | Change in unrealized gains or losses included in earnings for assets and liabilities still held at March 31, 2009 *1 |
|  | Included in earnings *1 |  |  | Included in other comprehensive income |  |  | Total |  |  |  |  |
Trading securities |  | ¥ | 0 |  |  | ¥ | (734 | ) |  | ¥ | (86 | ) |  | ¥ | (820 | ) |  | ¥ | 154 |  |  | ¥ | 832 |  |  | ¥ | 166 |  |  | ¥ | (734 | )
Available-for-sale securities |  |  | 437,939 |  |  |  | (2,305 | ) |  |  | (3,438 | ) |  |  | (5,743 | ) |  |  | (51,090 | ) |  |  | 66,753 |  |  |  | 447,859 |  |  |  | (4,323 | )
Corporate debt securities |  |  | 12,969 |  |  |  | (1,663 | ) |  |  | 251 |  |  |  | (1,412 | ) |  |  | (3,251 | ) |  |  | 1,870 |  |  |  | 10,176 |  |  |  | (1,565 | )
Specified bonds issued by SPEs in Japan |  |  | 341,720 |  |  |  | (104 | ) |  |  | (2,273 | ) |  |  | (2,377 | ) |  |  | (38,578 | ) |  |  | 0 |  |  |  | 300,765 |  |  |  | (185 | )
CMBS and RMBS in the U.S., and other asset-backed securities |  |  | 83,250 |  |  |  | (538 | ) |  |  | (1,416 | ) |  |  | (1,954 | ) |  |  | (9,261 | ) |  |  | 64,883 |  |  |  | 136,918 |  |  |  | (2,573 | )
Investment in affiliates |  |  | 0 |  |  |  | 954 |  |  |  | 0 |  |  |  | 954 |  |  |  | 6,000 |  |  |  | 0 |  |  |  | 6,954 |  |  |  | 954 |
Derivative assets and liabilities (net) |  |  | 0 |  |  |  | 668 |  |  |  | 0 |  |  |  | 668 |  |  |  | 0 |  |  |  | 0 |  |  |  | 668 |  |  |  | 668 |
Options held/written, caps held |  |  | 0 |  |  |  | 438 |  |  |  | 0 |  |  |  | 438 |  |  |  | 0 |  |  |  | 0 |  |  |  | 438 |  |  |  | 438 |
Credit derivatives held/written |  |  | 0 |  |  |  | 230 |  |  |  | 0 |  |  |  | 230 |  |  |  | 0 |  |  |  | 0 |  |  |  | 230 |  |  |  | 230 |
|  | 2010 |
|  | Millions of yen |
|  | Balance at April 1, 2009 |  |  | Gains or losses (realized/ unrealized) |  |  | Purchase, sales, and settlements (net) |  |  | Transfers in and/ or out of Level 3 (net) *2 |  |  | Balance at March 31, 2010 |  |  | Change in unrealized gains or losses included in earnings for assets and liabilities still held at March 31, 2010 *1 |
|  | Included in earnings *1 |  |  | Included in other comprehensive income |  |  | Total |  |  |  |  |
Trading securities |  | ¥ | 166 |  |  | ¥ | 0 |  |  | ¥ | (170 | ) |  | ¥ | (170 | ) |  | ¥ | 57 |  |  | ¥ | 0 |  |  | ¥ | 53 |  |  | ¥ | 0 |
Available-for-sale securities |  |  | 447,859 |  |  |  | (9,394 | ) |  |  | (519 | ) |  |  | (9,913 | ) |  |  | (36,997 | ) |  |  | 855 |  |  |  | 401,804 |  |  |  | (8,691 | )
Corporate debt securities |  |  | 10,176 |  |  |  | (1,302 | ) |  |  | 492 |  |  |  | (810 | ) |  |  | (3,380 | ) |  |  | 855 |  |  |  | 6,841 |  |  |  | (801 | )
Specified bonds issued by SPEs in Japan |  |  | 300,765 |  |  |  | (989 | ) |  |  | (1,910 | ) |  |  | (2,899 | ) |  |  | (51,561 | ) |  |  | 0 |  |  |  | 246,305 |  |  |  | (515 | )
CMBS and RMBS in the U.S., and other asset-backed securities |  |  | 136,918 |  |  |  | (7,103 | ) |  |  | 899 |  |  |  | (6,204 | ) |  |  | 17,944 |  |  |  | 0 |  |  |  | 148,658 |  |  |  | (7,375 | )
Investment in affiliates |  |  | 6,954 |  |  |  | (6,954 | ) |  |  | 0 |  |  |  | (6,954 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Derivative assets and liabilities (net) |  |  | 668 |  |  |  | (175 | ) |  |  | 0 |  |  |  | (175 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 493 |  |  |  | (175 | )
Options held/written, caps held |  |  | 438 |  |  |  | (438 | ) |  |  | 0 |  |  |  | (438 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (438 | )
Credit derivatives held/written |  |  | 230 |  |  |  | 263 |  |  |  | 0 |  |  |  | 263 |  |  |  | 0 |  |  |  | 0 |  |  |  | 493 |  |  |  | 263 |
|  | 2011 |
|  | Millions of yen |
|  | Balance at March 31, 2010 |  |  | Gains or losses (realized/ unrealized) |  |  | Purchase, sales, and settlements (net) |  |  | Transfers in and/ or out of Level 3 (net) *2 |  |  | Balance at March 31, 2011 |  |  | Change in unrealized gains or losses included in earnings for assets and liabilities still held at March 31, 2011 *1 |
|  | Included in earnings *1 |  |  | Included in other comprehensive income |  |  | Total |  |  |  |  |
Trading securities |  | ¥ | 53 |  |  | ¥ | (26 | ) |  | ¥ | (2 | ) |  | ¥ | (28 | ) |  | ¥ | (25 | ) |  | ¥ | 0 |  |  | ¥ | 0 |  |  | ¥ | 0 |
Available-for-sale securities |  |  | 401,804 |  |  |  | (6,242 | ) |  |  | (3,248 | ) |  |  | (9,490 | ) |  |  | (33,102 | ) |  |  | (43,536 | ) |  |  | 315,676 |  |  |  | (5,848 | )
Corporate debt securities |  |  | 6,841 |  |  |  | (34 | ) |  |  | (83 | ) |  |  | (117 | ) |  |  | (2,094 | ) |  |  | (2,057 | ) |  |  | 2,573 |  |  |  | (72 | )
Specified bonds issued by SPEs in Japan |  |  | 246,305 |  |  |  | (5,195 | ) |  |  | 351 |  |  |  | (4,844 | ) |  |  | (27,076 | ) |  |  | 7,929 |  |  |  | 222,314 |  |  |  | (5,275 | )
CMBS and RMBS in the U.S., and other asset-backed securities |  |  | 148,658 |  |  |  | (1,013 | ) |  |  | (3,516 | ) |  |  | (4,529 | ) |  |  | (3,932 | ) |  |  | (49,408 | ) |  |  | 90,789 |  |  |  | (501 | )
Derivative assets and liabilities (net) |  |  | 493 |  |  |  | (206 | ) |  |  | 0 |  |  |  | (206 | ) |  |  | 0 |  |  |  | 2,659 |  |  |  | 2,946 |  |  |  | (206 | )
Options held/written, caps held and other |  |  | 0 |  |  |  | 475 |  |  |  | 0 |  |  |  | 475 |  |  |  | 0 |  |  |  | 2,659 |  |  |  | 3,134 |  |  |  | 475 |
Credit derivatives held/written |  |  | 493 |  |  |  | (681 | ) |  |  | 0 |  |  |  | (681 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (188 | ) |  |  | (681 | )
|  | 2011 |
|  | Millions of U.S. dollars |
|  | Balance at March 31, 2010 |  |  | Gains or losses (realized/ unrealized) |  |  | Purchase, sales, and settlements (net) |  |  | Transfers in and/ or out of Level 3 (net) *2 |  |  | Balance at March 31, 2011 |  |  | Change in unrealized gains or losses included in earnings for assets and liabilities still held at March 31, 2011 *1 |
|  | Included in earnings *1 |  |  | Included in other comprehensive income |  |  | Total |  |  |  |  |
Trading securities |  | $ | 1 |  |  | $ | (1 | ) |  | $ | (0 | ) |  | $ | (1 | ) |  | $ | (0 | ) |  | $ | 0 |  |  | $ | 0 |  |  | $ | 0 |
Available-for-sale securities |  |  | 4,832 |  |  |  | (75 | ) |  |  | (39 | ) |  |  | (114 | ) |  |  | (397 | ) |  |  | (524 | ) |  |  | 3,797 |  |  |  | (70 | )
Corporate debt securities |  |  | 82 |  |  |  | 0 |  |  |  | (1 | ) |  |  | (1 | ) |  |  | (25 | ) |  |  | (25 | ) |  |  | 31 |  |  |  | (1 | )
Specified bonds issued by SPEs in Japan |  |  | 2,962 |  |  |  | (63 | ) |  |  | 4 |  |  |  | (59 | ) |  |  | (325 | ) |  |  | 96 |  |  |  | 2,674 |  |  |  | (63 | )
CMBS and RMBS in the U.S., and other asset-backed securities |  |  | 1,788 |  |  |  | (12 | ) |  |  | (42 | ) |  |  | (54 | ) |  |  | (47 | ) |  |  | (595 | ) |  |  | 1,092 |  |  |  | (6 | )
Derivative assets and liabilities (net) |  |  | 6 |  |  |  | (3 | ) |  |  | 0 |  |  |  | (3 | ) |  |  | 0 |  |  |  | 32 |  |  |  | 35 |  |  |  | (3 | )
Options held/written, caps held and other |  |  | 0 |  |  |  | 5 |  |  |  | 0 |  |  |  | 5 |  |  |  | 0 |  |  |  | 32 |  |  |  | 37 |  |  |  | 5 |
Credit derivatives held/written |  |  | 6 |  |  |  | (8 | ) |  |  | 0 |  |  |  | (8 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (2 | ) |  |  | (8 | )
*1 | Principally, gains and losses from trading securities are included in “brokerage commissions and net gains (losses) on investment securities”; available-for-sale securities are included in “write-downs of securities” or “life insurance premiums and related investment income”; investments in affiliates are included in “equity in net income (loss) of affiliates” and derivative assets and liabilities (net) are included in “other operating revenues /expenses,” respectively.
*2 | The amount reported in “Transfers in and/or out of Level 3 (net)” is the fair value at the beginning of quarter during which the transfers occur.
Fair Value, Assets Measured on Nonrecurring Basis | The following table presents recorded amounts of major assets measured at fair value on a nonrecurring basis as of March 31, 2010 and March 31, 2011. These assets are measured at fair value on a nonrecurring basis mainly to recognize impairment:
|  | March 31, 2010 |
|  | Millions of yen |
|  | Total Carrying Value in Consolidated Balance Sheets |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unlisted securities |  | ¥ | 10,138 |  |  | ¥ | 0 |  |  | ¥ | 0 |  |  | ¥ | 10,138 |
Real estate collateral-dependent loans (net of allowance for probable loan losses) |  |  | 105,948 |  |  |  | 0 |  |  |  | 0 |  |  |  | 105,948 |
Investment in operating leases |  |  | 21,174 |  |  |  | 0 |  |  |  | 0 |  |  |  | 21,174 |
Land and buildings undeveloped or under construction |  |  | 33,978 |  |  |  | 0 |  |  |  | 0 |  |  |  | 33,978 |
Certain investment in affiliates |  |  | 502 |  |  |  | 0 |  |  |  | 502 |  |  |  | 0 |
|  | ¥ | 171,740 |  |  | ¥ | 0 |  |  | ¥ | 502 |  |  | ¥ | 171,238 |
|  | March 31, 2011 |
|  | Millions of yen |
|  | Total Carrying Value in Consolidated Balance Sheets |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unlisted securities |  | ¥ | 3,776 |  |  | ¥ | 0 |  |  | ¥ | 0 |  |  | ¥ | 3,776 |
Loans held for sale |  |  | 11,439 |  |  |  | 0 |  |  |  | 11,439 |  |  |  | 0 |
Real estate collateral-dependent loans (net of allowance for probable loan losses) |  |  | 110,329 |  |  |  | 0 |  |  |  | 0 |  |  |  | 110,329 |
Investment in operating leases and other operating assets |  |  | 26,813 |  |  |  | 0 |  |  |  | 0 |  |  |  | 26,813 |
Land and buildings undeveloped or under construction |  |  | 30,595 |  |  |  | 0 |  |  |  | 0 |  |  |  | 30,595 |
Certain investment in affiliates |  |  | 2,090 |  |  |  | 236 |  |  |  | 0 |  |  |  | 1,854 |
|  | ¥ | 185,042 |  |  | ¥ | 236 |  |  | ¥ | 11,439 |  |  | ¥ | 173,367 |
|  | March 31, 2011 |
|  | Millions of U.S. dollars |
|  | Total Carrying Value in Consolidated Balance Sheets |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unlisted securities |  | $ | 45 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 45 |
Loans held for sale |  |  | 138 |  |  |  | 0 |  |  |  | 138 |  |  |  | 0 |
Real estate collateral-dependent loans (net of allowance for probable loan losses) |  |  | 1,327 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,327 |
Investment in operating leases and other operating assets |  |  | 322 |  |  |  | 0 |  |  |  | 0 |  |  |  | 322 |
Land and buildings undeveloped or under construction |  |  | 368 |  |  |  | 0 |  |  |  | 0 |  |  |  | 368 |
Certain investment in affiliates |  |  | 25 |  |  |  | 3 |  |  |  | 0 |  |  |  | 22 |
|  | $ | 2,225 |  |  | $ | 3 |  |  | $ | 138 |  |  | $ | 2,084 |

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- Definition This element represents the disclosure related to assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b + Details
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- Definition This element represents, for the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (net); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c + Details
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