Notes to Consolidated Financial Statements SMFG 14. Other Liabilities 15. Land Revaluation Excess Other liabilities at March 31, 2011 and 2010 consisted of the following: $^{*1}$ Referred to in Note 32 *2 Average interest rate on lease liabilities for the year ended March 31, 2011 was 4.60%. Non-transfer ownership finance lease with the lease term commenced before April 1, 2008 is  excluded from calculations of average interest rate. The repayment schedule over the next 5 years on lease liabilities at March 31, 2011 was as follows: SMBC and certain consolidated subsidiary revaluated their own land  for business activities in accordance with the “Act on Revaluation of  Land” (the “Act”) (Act No. 34, effective March 31, 1998) and “Act  for Partial Revision of Act on Revaluation of Land” (Act No. 19,  effective March 31, 2001). The income taxes corresponding to the  net unrealized gains are reported in “Liabilities” as “Deferred tax  liabilities for land revaluation,” and the net unrealized gains, net  of deferred taxes, are reported as “Land revaluation excess” in “Net  assets.” A certain affiliate revaluated its own land for business activities in  accordance with the Act. The net unrealized gains, net of deferred  taxes, are reported as “Land revaluation excess” in “Net assets.” Date of the revaluation Method of revaluation (stipulated in Article 3-3 of the Act)  Fair values were determined by applying appropriate  adjustments for land shape and timing of appraisal to the  values stipulated in Article 2-3, 2-4 or 2-5 of “Order for  Enforcement of Act on Revaluation of Land” (Cabinet Order  No. 119 of March 31, 1998).  Fair values were determined based on the values stipulated  in Articles 2-3 and 2-5 of “Order for Enforcement of Act on  Revaluation of Land” (Cabinet Order No. 119 of March 31,  1998). SMBC: March 31, 1998 and March 31, 2002 A consolidated subsidiary and an affiliate: March 31, 1999 and March 31, 2002 SMBC: A consolidated subsidiary and an affiliate: Millions of yen Millions of  U.S. dollars March 31 2011 2010 2011 Accrued expenses ................................................................................................. ¥ 132,089 ¥ 144,338 $ 1,589 Unearned income ................................................................................................. 167,880 174,931 2,019 Income taxes payable ........................................................................................... 47,431 56,708 570 Financial derivatives$^{*1}$ ......................................................................................... 818,962 818,105 9,849 Lease liabilities$^{*2}$ ................................................................................................. 64,436 58,742 775 Other .................................................................................................................. 2,957,458 1,940,320 35,568 ¥4,188,259 ¥3,193,146 $50,370 Millions of yen Millions of U.S. dollars March 31 2011 2011 Within 1 year ..................................................................................................................... ¥21,680 $261 After 1 year through 2 years ............................................................................................... 15,680 189 After 2 years through 3 years .............................................................................................. 10,496 126 After 3 years through 4 years .............................................................................................. 6,712 81 After 4 years through 5 years .............................................................................................. 4,288 52 SMFG  2011 88