Canon 2002 Annual Report Download - page 62

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60
The aggregate annual maturities of long-term debt
outstanding at December 31, 2002 were as follows:
Millions Thousands of
of yen U.S. dollars
2003 ¥19,006 $ 158,383
2004 30,944 257,866
2005 16,474 137,283
2006 1,217 10,142
2007 10,262 85,517
Later years 22,452 187,100
¥100,355 $ 836,291
Property, plant and equipment with a book value at
December 31, 2002 of ¥9,416 million ($78,467 thousand)
were mortgaged to secure long-term debt.
As is customary in Japan, 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 the bank. Long-term agreements with
lenders other than banks also generally provide that Canon
must give additional security upon request of the lender.
The 1-2/10% Japanese yen convertible debentures due
2005 are currently convertible into approximately 3,440,000
shares of common stock at a conversion price of ¥1,497.00
($12.48) per share. The debentures are redeemable at the
option of the Company between January 1, 2003 and
December 31, 2004 at premiums ranging from 2% to 1%,
and at par thereafter, or, dependent on a particular
circumstance, at par.
The 1-3/10% Japanese yen convertible debentures due
2008 are currently convertible into approximately 6,601,000
shares of common stock at a conversion price of ¥1,497.00
($12.48) per share. The debentures are redeemable at the
option of the Company between January 1, 2003 and
December 31, 2007 at premiums ranging from 5% to 1%,
and at par thereafter, or, dependent on a particular
circumstance, at par.
CANON INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, CONTINUED