Canon 2012 Annual Report Download - page 72
Download and view the complete annual report
Please find page 72 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.-
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
 |
 |
Strategy Business Units Management System FINANCIAL SECTION
70
Millions of yen
Thousands of
U.S. dollars Millions of yen
Thousands of
U.S. dollars
Japanese plans Foreign plans
Current year actuarial (gain) loss
Amortization of actuarial loss
Prior service credit due
to amendments
Amortization of
prior service credit
Amortization
of net transition obligation
2011
2012 2010 2012 20112012 2010 2012
¥ 48,615
(14,462)
(1,913)
13,674
(722)
¥ 45,192
¥ (21,753)
(16,277)
—
13,079
—
¥ (24,951)
¥ 34,348
(14,545)
(423)
13,878
(722)
¥ 32,536
$ (250,035)
(187,092)
—
150,334
—
$ (286,793)
¥ 13,649
(621)
—
93
—
¥ 13,121
¥ 31,661
(1,351)
—
116
—
¥ 30,426
¥ (14,713)
(1,050)
(149)
116
—
¥ (15,796)
$ 363,920
(15,529)
—
1,333
—
$ 349,724
Years ended December 31
Prior service credit
Actuarial loss
¥ (13,070)
14,414
$ (150,230)
165,678
¥ (124)
1,413
$ (1,425)
16,241
Millions of yen
Thousands of
U.S. dollars Millions of yen
Thousands of
U.S. dollars
Japanese plans Foreign plans
Discount rate
Assumed rate of increase in future compensation levels
1.8%
3.0%
1.9%
3.0%
3.6%
2.2%
4.6%
2.4%
December 31
2012 2011 2012 2011
Japanese plans Foreign plans
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) for the years ended
December 31, 2012, 2011 and 2010 are summarized as follows:
The estimated prior service credit and actuarial loss for the defined benefit pension plans that will be amortized from accu-
mulated other comprehensive income (loss) into net periodic benefit cost over the next year are summarized as follows:
Assumptions
Weighted-average assumptions used to determine benefit obligations are as follows:
Canon determines the expected long-term rate of return
based on the expected long-term return of the various asset
categories in which it invests. Canon considers the current
expectations for future returns and the actual historical
returns of each plan asset category.
Plan assets
Canon’s investment policies are designed to ensure ade-
quate plan assets are available to provide future payments
of pension benefits to eligible participants. Taking into
account the expected long-term rate of return on plan
assets, Canon formulates a “model” portfolio comprised of
the optimal combination of equity securities and debt secu-
rities. Plan assets are invested in individual equity and debt
securities using the guidelines of the “model” portfolio in
order to produce a total return that will match the expected
return on a mid-term to long-term basis. Canon evalu-
ates the gap between expected return and actual return
of invested plan assets on an annual basis to determine if
such differences necessitate a revision in the formulation of
Weighted-average assumptions used to determine net periodic benefit cost are as follows:
Discount rate
Assumed rate of increase in future compensation levels
Expected long-term rate of return on plan assets
1.9%
3.0%
3.1%
2.3%
3.0%
3.6%
4.6%
2.4%
5.4%
4.9%
2.8%
6.1%
2.1%
3.0%
3.6%
4.9%
2.9%
5.7%
Years ended December 31
2012 2011 2012 20112010 2010
Japanese plans Foreign plans