Fair value measurements (Tables)

12 Months Ended

Mar. 31, 2019

Fair Value of Assets and Liabilities Measured on Recurring Basis

The fair value of Sony’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2018 and 2019 are as follows. Sony adopted ASU 2016-01 from April 1, 2018, and as a result, equity securities which were previously included in the trading securities category are included in the equity securities category as of March 31, 2019.


	Yen in millions
	March 31, 2018
									Presentation in the consolidated balance sheets
	Level 1		Level 2		Level 3		Total		Marketable securities		Securities investments and other		Other current assets/ liabilities		Other noncurrent assets/ liabilities
Assets:
Trading securities		712,113		335,949		—		1,048,062		1,048,062		—		—		—
Available-for-sale securities
Debt securities
Japanese national government bonds		—		1,409,610		—		1,409,610		20,473		1,389,137		—		—
Japanese local government bonds		—		67,569		—		67,569		8,548		59,021		—		—
Japanese corporate bonds		—		208,708		—		208,708		8,041		200,667		—		—
Foreign government bonds^*1		—		69,539		—		69,539		—		69,539		—		—
Foreign corporate bonds^*2		—		338,587		27,878		366,465		88,228		278,237		—		—
Securitized products^*3		—		15,736		83,614		99,350		—		99,350		—		—
Equity securities		126,330		293		—		126,623		—		126,623		—		—
Other investments^*4		6,192		5,099		9,104		20,395		—		20,395		—		—
Derivative assets^*5		2,194		37,332		—		39,526		—		—		37,003		2,523

Total assets		846,829		2,488,422		120,596		3,455,847		1,173,352		2,242,969		37,003		2,523

Liabilities:
Derivative liabilities^*5		1,407		34,317		—		35,724		—		—		20,550		15,174

Total liabilities		1,407		34,317		—		35,724		—		—		20,550		15,174


	Yen in millions
	March 31, 2019
									Presentation in the consolidated balance sheets
	Level 1		Level 2		Level 3		Total		Marketable securities		Securities investments and other		Other current assets/ liabilities		Other noncurrent assets/ liabilities
Assets:
Debt securities
Trading securities		22,105		212,012		—		234,117		234,117		—		—		—
Available-for-sale securities
Japanese national government bonds		—		1,643,589		—		1,643,589		18,719		1,624,870		—		—
Japanese local government bonds		—		67,497		—		67,497		7,768		59,729		—		—
Japanese corporate bonds		—		219,388		—		219,388		11,472		207,916		—		—
Foreign government bonds^*1		—		161,495		—		161,495		3,984		157,511		—		—
Foreign corporate bonds^*2		—		338,163		22,704		360,867		90,801		270,066		—		—
Securitized products^*3		—		25,029		165,083		190,112		—		190,112		—		—
Other		—		4,688		—		4,688		—		4,688		—		—
Equity securities		1,037,100		135,794		—		1,172,894		951,390		221,504		—		—
Other investments^*4		5,489		1,507		6,918		13,914		—		13,914		—		—
Derivative assets^*5		444		10,042		—		10,486		—		—		9,431		1,055

Total assets		1,065,138		2,819,204		194,705		4,079,047		1,318,251		2,750,310		9,431		1,055

Liabilities:
Derivative liabilities^*5		136		32,686		—		32,822		—		—		19,852		12,970

Total liabilities		136		32,686		—		32,822		—		—		19,852		12,970

2,875 million yen and 4,910 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2018 and 2019, respectively, and are included in the consolidated balance sheets as securities investments and other.

160,470 million yen and 173,964 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 for the fiscal years ended March 31, 2018 and 2019, respectively. In the consolidated balance sheets, 25,955 million yen and 33,391 million yen are included as marketable securities and 134,515 million yen and 140,573 million yen are included as securities investment and other for the fiscal years ended March 31, 2018 and 2019, respectively.

93,971 million yen and 185,195 million yen are included in foreign securities for which the fair value option has been elected and classified in level 2 and level 3 for the fiscal years ended March 31, 2018 and 2019, respectively, and are included in the consolidated balance sheets as securities investments and other.

*4	Other investments include certain hybrid financial instruments and certain private equity investments.

*5	Derivative assets and liabilities are recognized and disclosed on a gross basis.

*6	Net gains of 544 million yen and 85 million yen arising from financial instruments for which the fair value option has been elected are included in financial services revenue in the consolidated statements of income for the fiscal years ended March 31, 2018 and 2019, respectively.

Changes in Fair Value of Level Three Assets and Liabilities

The changes in fair value of level 3 assets and liabilities for the fiscal years ended March 31, 2018 and 2019 are as follows:


	Yen in millions
	Fiscal year ended March 31, 2018
	Assets
	Available-for-sale securities
	Debt securities
	Japanese corporate bonds			Foreign corporate bonds			Securitized products			Other investments
Beginning balance		1,310			41,177			15,192			10,483
Total realized and unrealized gains (losses):
Included in earnings^*1		—			(307	)		(3,032	)		(65	)
Included in other comprehensive income (loss)^*2		—			(84	)		1			(489	)
Purchases		—			12,604			74,736			139
Sales		—			—			—			(10	)
Settlements		—			(18,540	)		(3,283	)		(954	)
Transfers into level 3^*3		—			—			—			—
Transfers out of level 3^*4		(1,310	)		(6,972	)		—			—

Ending balance		—			27,878			83,614			9,104

Changes in unrealized gains (losses) relating to instruments still held at reporting date:
Included in earnings^*1		—			(468	)		(2,278	)		(65	)

	Yen in millions
	Fiscal year ended March 31, 2019
	Assets
	Available-for-sale securities
	Debt securities
	Japanese corporate bonds			Foreign corporate bonds			Securitized products			Other investments
Beginning balance		—			27,878			83,614			9,104
Total realized and unrealized gains (losses):
Included in earnings^*1		—			465			562			276
Included in other comprehensive income (loss)^*2		—			131			1			—
Purchases		—			5,787			94,696			4
Sales		—			—			—			(6	)
Settlements		—			(10,435	)		(13,601	)		(2,460	)
Transfers into level 3^*3		—			20,863			5,284			—
Transfers out of level 3^*4		—			(21,985	)		(5,473	)		—

Ending balance		—			22,704			165,083			6,918

Changes in unrealized gains (losses) relating to instruments still held at reporting date:
Included in earnings^*1		—			219			510			441

Earning effects are included in financial services revenue in the consolidated statements of income.

Unrealized gains (losses) are included in unrealized gains (losses) on securities in the consolidated statements of comprehensive income.

Certain corporate bonds and certain securitized products were transferred into level 3 because differences between the fair value determined by indicative quotes from dealers and the fair value determined by internally developed prices became significant and the observability of the inputs used decreased.

Certain corporate bonds and certain securitized products were transferred out of level 3 because observable market data became available.

Assets and Liabilities Remeasured at Fair Value on a Nonrecurring Basis

During the fiscal years ended March 31, 2018 and 2019, such remeasurements to fair value related primarily to the following:


	During the fiscal year ended March 31, 2018
	Estimated fair value						Amounts included in earnings
	Level 1		Level 2		Level 3		Amounts included in earnings
Assets:
Long-lived assets impairments		—		—		19,375		(53,741	)

								(53,741	)


	During the fiscal year ended March 31, 2019
	Estimated fair value						Amounts included in earnings
	Level 1		Level 2		Level 3		Amounts included in earnings
Assets:
Long-lived assets impairments		—		—		4,389		(44,135	)
Goodwill impairment		—		—		0		(5,107	)

								(49,242	)

Estimated Fair Values by Fair Value Hierarchy Level of Certain Financial Instruments not Reported at Fair Value

The estimated fair values by fair value hierarchy level of certain financial instruments that are not reported at fair value are summarized as follows:


	Yen in millions
	March 31, 2018
	Estimated fair value								Carrying amount
	Level 1		Level 2		Level 3		Total		Total
Assets:
Housing loans in the banking business		—		1,686,842		—		1,686,842		1,522,415

Total assets		—		1,686,842		—		1,686,842		1,522,415

Liabilities:
Long-term debt including the current portion		—		877,576		—		877,576		848,973
Investment contracts included in policyholders’ account in the life insurance business		—		766,558		—		766,558		738,404

Total liabilities		—		1,644,134		—		1,644,134		1,587,377


	Yen in millions
	March 31, 2019
	Estimated fair value								Carrying amount
	Level 1		Level 2		Level 3		Total		Total
Assets:
Housing loans in the banking business		—		1,861,384		—		1,861,384		1,685,504

Total assets		—		1,861,384		—		1,861,384		1,685,504

Liabilities:
Long-term debt including the current portion		—		737,529		—		737,529		740,833
Investment contracts included in policyholders’ account in the life insurance business		—		877,157		—		877,157		816,903

Total liabilities		—		1,614,686		—		1,614,686		1,557,736