Canon 2010 Annual Report Download - page 83
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Please find page 83 of the 2010 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.CANON ANNUAL REPORT 2010 81
The Company and certain of its subsidiaries have contributory and
noncontributory defi ned benefi t pension plans covering substan-
tially all of their employees. Benefi ts payable under the plans are
based on employee earnings and years of service. The Company
and certain of its subsidiaries also have defi ned contribution pen-
sion plans covering substantially all of their employees.
12. Employee Retirement and Severance Benefi ts
The amounts of cost recognized for the defi ned contribution
pension plans of the Company and certain of its subsidiaries
for the years ended December 31, 2010, 2009 and 2008 were
¥11,780 million ($145,432 thousand), ¥9,148 million and ¥10,840
million, respectively.
Years ended December 31 Japanese plans Foreign plans
Millions of yen
Thousands of
U.S. dollars Millions of yen
Thousands of
U.S. dollars
2010 2009 2010 2010 2009 2010
Change in benefi t obligations:
Benefi t obligations at beginning of year ¥ 551,320 ¥521,985 $ 6,806,420 ¥ 94,170 ¥ 78,468 $1,162,593
Service cost 23,331 21,759 288,037 5,660 2,426 69,877
Interest cost 12,636 12,535 156,000 11,792 4,251 145,580
Plan participants’ contributions ——— 2,460 1,177 30,370
Amendments (423) (674) (5,223) (149) —(1,840)
Actuarial (gain) loss 22,290 10,822 275,185 (5,946) 3,533 (73,407)
Benefi ts paid (15,880) (15,107) (196,049) (7,458) (1,784) (92,074)
Acquisition ——— 198,754 —2,453,753
Foreign currency exchange rate changes ——— (38,153) 6,099 (471,025)
Benefi t obligations at end of year 593,274 551,320 7,324,370 261,130 94,170 3,223,827
Change in plan assets:
Fair value of plan assets at beginning
of year 457,208 429,870 5,644,543 75,058 62,996 926,642
Actual return on plan assets 4,533 26,616 55,963 19,307 4,844 238,358
Employer contributions 13,283 15,173 163,988 8,152 3,059 100,642
Plan participants’ contributions ——— 2,460 1,177 30,370
Benefi ts paid (14,934) (14,451) (184,371) (7,413) (1,784) (91,519)
Acquisition ——— 128,043 —1,580,778
Foreign currency exchange rate changes ——— (27,772) 4,766 (342,864)
Fair value of plan assets at end of year 460,090 457,208 5,680,123 197,835 75,058 2,442,407
Funded status at end of year ¥(133,184) ¥ (94,112) $(1,644,247) ¥ (63,295) ¥(19,112) $ (781,420)
Obligations and funded status
Reconciliations of beginning and ending balances of the benefi t obligations and the fair value of the plan assets are as follows: