Canon 2008 Annual Report Download - page 77

75
D
ece
m
be
r 3
1
M
illions of
y
e
n
T
housands o
f
U
.
S
.
do
ll
a
r
s
2008
2007
2008
N
otes ¥ 20,303 ¥ 23
,
632 $ 223,110
Accou
n
ts
584,437 7
8
5,155 6,422,385
604,740 808,78
7
6,645,495
Less allowance
f
or doubt
f
ul receivable
s
(9,318)
(
14,547
)
(102,396)
¥ 595,422 ¥ 7
9
4,
2
4
0
$ 6,543,099
Tr
ade
r
ece
iv
ab
l
es
a
r
e
su
mm
a
riz
ed
as
f
o
ll
o
w
s
:
5
. Tr
ade
R
ece
iv
ab
l
es
D
ece
m
be
r 3
1
M
illions of
y
e
n
T
h
ousa
n
ds
of
U
.
S
.
do
ll
a
r
s
2008
2007
2008
Finis
h
e
d
goo
ds
¥ 316,533 ¥ 366,845 $ 3,478,385
W
or
k
in process 171,511 175
,
70
4
1,884,736
Ra
w m
ate
ri
a
l
s
18,875
20
,
92
5 207,417
¥ 506,919 ¥ 563,47
4
$ 5,570,538
Inventories are summarized as follows
:
6
. Inventor
i
es
D
ece
m
be
r 3
1
M
illions of
y
e
n
T
h
ousa
n
ds
of
U
.
S
.
do
ll
a
r
s
2008
2007
2008
Lan
d
¥ 247,602 ¥ 249
,
95
9
$ 2,720,901
Buildin
gs
1,268,388 1
,
1
98,
51
9
13,938,330
M
achiner
y
and equipmen
t
1,395,451 1,4
06
,
8
4
9
15,334,626
Construction in progres
s
81,346 103
,
74
9
893,912
2,992,787
2,9
5
9,0
7
6
32,887,769
Less accumulated de
p
reciatio
n
(1,635,601) (1,594,374) (17,973,637)
¥ 1,357,186 ¥ 1,364,702 $ 14,914,132
Property, p
l
ant an
d
equipment are state
d
at cost
l
ess accumu
l
ate
d
de
p
reciation and are summarized as follows
:
7
. Propert
y
, Plant and Equipmen
t
Depreciation expense for the
y
ears ended December 31, 2008,
2007 and 2006 was ¥304,622 million
(
$3,347,494 thousand
)
,
¥309,815 million and ¥235,804 million, respectively
.
Amounts due
f
or purchases o
f
propert
y
, plant and equipment
were ¥98,398 million (
$
1,081,297 thousand) and ¥120,823 million
at Decem
b
er 31, 2008 an
d
2007, respective
l
y, an
d
are inc
l
u
d
e
d
in other current liabilities in the accompanying consolidated
balance sheets. Fixed assets presented in the consolidated state
-
ments o
f
cash
fl
ows includes propert
y
, plant and equipment and
intan
g
i
bl
e assets
.
Canon recognized impairment losses of ¥11,164 million
($122,681 thousand) related primarily to property, plant and
equipment o
f
its semiconductor production equipment business
durin
g
the
y
ear ended December 31, 2008. As a result of
declining demand in the semiconductor manufacturing industry
and diminished profi tability of the semiconductor production
equipment business, Canon evaluated the on
g
oin
g
value o
f
the
re
l
ate
d
l
on
g
-
l
ive
d
assets an
d
estimate
d
t
h
at t
h
e carr
y
in
g
amounts
w
ou
l
d
n
ot
be
r
eco
v
e
r
ab
l
e
fr
o
m
t
h
e
f
utu
r
e
cas
h fl
o
w
s
. Th
e
f
a
ir
value of the property, plant and equipment was based on the
estimated discounted
f
uture cash
fl
ows expected to be
g
enerated
f
rom the use o
f
them. The impairment losses are included in
se
ll
in
g
,
g
enera
l
an
d
a
d
ministrative expenses in t
h
e conso
l
i
d
ate
d
state
m
e
n
ts
o
f in
co
m
e.