Canon 2002 Annual Report Download - page 76

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CANON INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED
The estimated fair values of Canon’s financial instruments at
December 31, 2002 and 2001 are summarized as follows:
Thousands of
Millions of yen U.S. dollars
2002 2001 2002
Carrying Estimated Carrying Estimated Carrying Estimated
Amount Fair Value Amount Fair Value Amount Fair Value
Nonderivatives:
Assets:
Marketable securities and
Investments ¥41,285 41,285 38,061 38,061 $ 344,042 344,042
Liabilities:
Long-term debt, including current installments
(100,355) (132,574) (149,274) (189,577) (836,292) (1,104,783)
Derivatives relating to:
Forecasted intercompany
sales transactions:
Assets 808 808 —— 6,733 6,733
Liabilities (622) (622) (4,402) (4,402) (5,183) (5,183)
Trade receivables:
Assets 3,851 3,851 493 493 32,092 32,092
Liabilities (2,938) (2,938) (9,191) (9,191) (24,483) (24,483)
Long-term debt,
including current installments:
Interest rate swaps:
Assets 11575 575 88
Liabilities (1,149) (1,149) (1,463) (1,463) (9,575) (9,575)
Limitations
Fair value estimates are made at a specific point in time, based
on relevant market information and information about the
financial instruments. These estimates are subjective in nature
and involve uncertainties and matters of significant judgment
and therefore cannot be determined with precision. Changes in
assumptions could significantly affect the estimates.
(21) Supplementary Expense Information
Thousands of
Millions of yen U.S. dollars
2002 2001 2000 2002
Research and development ¥233,669 218,616 194,552 $ 1,947,242
Depreciation of property, plant and equipment 158,469 147,286 144,043 1,320,575
Rent 44,195 47,558 42,963 368,292
Advertising 71,725 66,837 67,840 597,708
Exchange losses 23,468 14,801 20,195 195,567
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