Canon 2004 Annual Report Download - page 65

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63
(6) Inventories
Inventories comprised the following:
December 31 Thousands of
Millions of yen U.S. dollars
2004 2003 2004
Finished goods ¥352,656 305,414 $3,390,923
Work in process 121,613 124,410 1,169,356
Raw materials 14,859 14,420 142,875
¥489,128 444,244 $4,703,154
(7) Property, Plant and Equipment
Property, plant and equipment are stated at cost less
accumulated depreciation and are summarized as follows:
December 31 Thousands of
Millions of yen U.S. dollars
2004 2003 2004
Land ¥182,330 177,953 $1,753,173
Buildings 824,969 766,398 7,932,394
Machinery and equipment 1,053,121 990,638 10,126,164
Construction in progress 74,599 29,627 717,298
2,135,019 1,964,616 20,529,029
Less accumulated depreciation (1,173,305) (1,118,183) (11,281,779)
¥961,714 846,433 $9,247,250
(8) Finance Receivables and Operating Leases
Finance receivables represent financing leases which consist of
sales-type leases and direct-financing leases resulting from the
marketing of Canon’s and complementary third-party
products. These receivables typically have terms ranging from
1 to 6 years. The components of the finance receivables,
which are included in prepaid expenses and other current
assets, and other assets in the accompanying consolidated
balance sheets, are as follows:
December 31 Thousands of
Millions of yen U.S. dollars
2004 2003 2004
Total minimum lease payments receivable ¥180,707 197,684 $1,737,567
Unguaranteed residual values 10,816 10,295 104,000
Executory costs (2,533) (2,523) (24,356)
Unearned income (20,880) (23,279) (200,769)
168,110 182,177 1,616,442
Less allowance for doubtful receivables (6,068) (6,339) (58,346)
162,042 175,838 1,558,096
Less amount due within one year (61,187) (68,135) (588,336)
¥100,855 107,703 $969,760