Canon 2012 Annual Report Download - page 67

Download and view the complete annual report

Please find page 67 of the 2012 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 100

  • 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
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 65
Current assets
Property, plant and equipment
Intangible assets
Goodwill
Other noncurrent assets
Non-current assets
Total acquired assets
Total assumed liabilities
Net assets acquired
Millions of yen
¥ 122,248
51,156
56,297
77,253
42,658
227,364
349,612
247,458
¥ 102,154
Intangible assets acquired, which are subject to amorti-
zation, consist of customer relationships of ¥32,747 million,
patented technologies of ¥11,316 million, and other intan-
gible assets of ¥12,234 million. Canon has estimated the
amortization period for the customer relationships and pat-
ented technologies to be 5 years and 3 years, respectively.
The weighted average amortization period for all intangible
assets is approximately 4.4 years.
Goodwill recognized, which is assigned to the Office
Business Unit for impairment testing, is attributable primar-
ily to expected synergies from combining operations of Océ
and Canon. None of the goodwill is expected to be deduct-
ible for income tax purposes.
The amount of net sales of Océ included in Canon’s con-
solidated statement of income from the acquisition date for
the year ended December 31, 2010 was ¥246,518 million.
The unaudited pro forma net sales as if Océ had been
included in Canon’s consolidated statements of income
from the beginning of the year ended December 31, 2010
was ¥3,772,425 million. Pro forma net income was not
disclosed because the impact on Canon’s consolidated state-
ments of income was not material.
Canon acquired businesses other than this described
above during the years ended December 31, 2012, 2011, and
2010. Such acquisitions were accounted for using the acqui-
sition method but were not material to its consolidated
financial statements.
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at acquisition date.
Software
Customer relationships
Patented technologies
License fees
Other
Gross carrying
amount
Accumulated
amortization
Gross carrying
amount
2012 2011
Accumulated
amortization
¥ 225,894
39,615
25,900
20,142
22,776
¥ 334,327
¥ 131,875
26,938
19,028
14,573
9,382
¥ 201,796
¥ 205,235
34,957
24,342
20,425
19,235
¥ 304,194
¥ 115,131
18,724
13,317
12,867
6,857
¥ 166,896
December 31
Millions of yen
9. GOODWILL AND OTHER INTANGIBLE ASSETS
Intangible assets subject to amortization acquired during
the years ended December 31, 2012 and 2011 totaled ¥34,196
million ($393,057 thousand) and ¥35,994 million, which
primarily consist of software of ¥33,985 million ($390,632
thousand) and ¥33,217 million, respectively. The weighted
average amortization periods for intangible assets in total
acquired during the years ended December 31, 2012 and
2011 are approximately 4 years and 5 years, respectively.
The weighted average amortization periods for software
acquired during the years ended December 31, 2012 and
2011 are approximately 4 years.
The components of intangible assets subject to amortization at December 31, 2012 and 2011 were as follows: