Canon 2010 Annual Report Download - page 85
Download and view the complete annual report
Please find page 85 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 83
Components of net periodic benefi t cost and other amounts recognized in other comprehensive income (loss)
Net periodic benefi t cost for Canon’s employee retirement and severance defi ned benefi t plans for the years ended December 31,
2010, 2009 and 2008 consisted of the following components:
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 2008 2010 2010 2009 2008 2010
Service cost ¥23,331 ¥21,759 ¥20,786 $288,037 ¥ 5,660 ¥2,426 ¥3,141 $ 69,877
Interest cost 12,636 12,535 12,253 156,000 11,792 4,251 4,991 145,580
Expected return on plan assets (16,591) (15,808) (19,721) (204,827) (10,540) (4,211) (5,519) (130,123)
Amortization of
net transition obligation 722 722 722 8,914 — — — —
Amortization of
prior service credit (13,878) (13,650) (13,373) (171,334) (116) (98) (271) (1,433)
Amortization of actuarial loss 14,545 13,923 7,068 179,568 1,050 1,014 898 12,963
¥20,765 ¥19,481 ¥ 7,735 $256,358 ¥ 7,846 ¥3,382 ¥3,240 $ 96,864
Other changes in plan assets and benefi t obligations recognized in other comprehensive income (loss) for the years ended
December 31, 2010 and 2009 are summarized as follows:
The estimated net transition obligation, prior service credit
and actuarial loss for the defi ned benefi t pension plans that will
be amortized from accumulated other comprehensive income
Japanese plans Foreign plans
Millions of yen
Thousands of
U.S. dollars Millions of yen
Thousands of
U.S. dollars
Net transition obligation ¥ 722 $ 8,914 ¥ — $ —
Prior service credit (13,574) (167,580) (132) (1,630)
Actuarial loss 14,562 179,778 500 6,173
(loss) into net periodic benefi t cost over the next year are
summarized as follows:
Assumptions
Weighted-average assumptions used to determine benefi t obligations are as follows:
December 31 Japanese plans Foreign plans
2010 2009 2010 2009
Discount rate 2.1% 2.3% 4.9% 5.2%
Assumed rate of increase in future compensation levels 3.0% 3.0% 2.9% 3.5%
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
Current year actuarial (gain) loss ¥34,348 ¥14 $424,049 ¥(14,713) ¥2,900 $(181,642)
Amortization of actuarial loss (14,545) (13,923) (179,568) (1,050) (1,014) (12,963)
Prior service credit due to amendments (423) (674) (5,223) (149) —(1,840)
Amortization of prior service credit 13,878 13,650 171,334 116 98 1,433
Amortization of net transition obligation (722) (722) (8,914) — ——
¥32,536 ¥ (1,655) $401,678 ¥(15,796) ¥1,984 $(195,012)