Canon 2015 Annual Report Download - page 65

Download and view the complete annual report

Please find page 65 of the 2015 Canon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

CANON ANNUAL REPORT 2015 63
STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA
December 31 Millions of yen
2015 2014
Loans, principally from banks, maturing in installments through 2020; bearing weighted
average interest of 1.81% and 2.79% at December 31, 2015 and 2014, respectively ¥ 73 ¥ 145
Capital lease obligations 1,470 2,018
1,543 2,163
Less current portion (662) (1,015)
¥ 881 ¥ 1,148
The aggregate annual maturities of long-term debt outstanding at December 31, 2015 were as follows:
Year ending December 31: Millions of yen
2016 ¥ 662
2017 452
2018 281
2019 121
2020 27
Thereafter —
¥ 1,543
Both short-term and long-term bank loans are made under
general agreements which provide that security and guarantees
for present and future indebtedness will be given upon request
of the bank, and that the bank shall have the right to offset cash
deposits against obligations that have become due or, in the
event of default, against all obligations due to the bank.
9. SHORT-TERM LOANS AND LONG-TERM DEBT
Short-term loans consisting of bank borrowings at December 31, 2015 and 2014 were ¥26 million and ¥3 million, respectively.
Long-term debt consisted of the following:
10. TRADE PAYABLES
Trade payables are summarized as follows:
December 31 Millions of yen
2015 2014
Notes ¥ 16,706 ¥ 14,112
Accounts 261,549 296,102
¥ 278,255 ¥ 310,214
11. EMPLOYEE RETIREMENT AND SEVERANCE BENEFITS
The Company and certain of its subsidiaries have contributory
and noncontributory defined benefit pension plans covering
substantially all of their employees. Benefits payable under the
plans are based on employee earnings and years of service. The
Company and certain of its subsidiaries also have defined contri-
bution pension plans covering substantially all of their employees.
Effective January 1, 2014, defined benefit pension plans of
certain subsidiaries in the Netherlands were terminated, and
the related plan assets and obligations were transferred to a
multiemployer pension plan for the industry in which these
subsidiaries operate. As a result, the Company recorded a gain
on curtailments and settlements of ¥9,370 million in selling,
general and administrative expenses in the consolidated state-
ment of income for the year ended December 31, 2014.