$CAJFF

CANON INC

CIK:0000016988|SEC Filings

Consolidated Statements of Income - JPY (¥) ¥ in Millions	12 Months Ended
Consolidated Statements of Income - JPY (¥) ¥ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net sales (Notes 6,14,15 and 18)	¥ 4,031,414	¥ 3,513,357	¥ 3,160,243
Cost of sales (Notes 5, 8, 11 and 19)	2,203,612	1,885,565	1,784,375
Gross profit	1,827,802	1,627,792	1,375,868
Operating expenses (Notes 1, 5, 8, 11, 14, 16, 19 and 20):
Selling, general and administrative expenses	1,167,673	1,058,536	993,009
Research and development expenses	306,730	287,338	272,312
Operating expenses	1,474,403	1,345,874	1,265,321
Operating profit	353,399	281,918	110,547
Other income (deductions):
Interest and dividend income	5,177	2,232	2,923
Interest expense	(1,046)	(647)	(854)
Other, net (Notes 1, 2, 7, 11, 14 and 18)	(5,090)	19,203	17,664
Other income (deductions)	(959)	20,788	19,733
Income before income taxes	352,440	302,706	130,280
Income taxes (Note 12)	92,356	71,866	34,337
Consolidated net income	260,084	230,840	95,943
Less: Net income attributable to noncontrolling interests	16,123	16,122	12,625
Net income attributable to Canon Inc.	¥ 243,961	¥ 214,718	¥ 83,318
Net income attributable to Canon Inc. shareholders per share (Note 17):
Basic	¥ 236.71	¥ 205.35	¥ 79.37
Diluted	¥ 236.63	¥ 205.29	¥ 79.35
Products And Equipment
Net sales (Notes 6,14,15 and 18)	¥ 3,231,837	¥ 2,804,680	¥ 2,489,829
Cost of sales (Notes 5, 8, 11 and 19)	1,828,555	1,552,766	1,463,637
Services
Net sales (Notes 6,14,15 and 18)	799,577	708,677	670,414
Cost of sales (Notes 5, 8, 11 and 19)	¥ 375,057	¥ 332,799	¥ 320,738

Consolidated Statements of Cash Flows - JPY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Consolidated net income	¥ 260,084	¥ 230,840	¥ 95,943
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	226,492	221,246	227,825
(Gain) loss on disposal of fixed assets	(6,458)	7,745	4,326
Deferred income taxes	(7,800)	(9,826)	(15,542)
(Increase) decrease in trade receivables	(78,203)	44,678	15,120
(Increase) decrease in inventories	(108,510)	(61,017)	16,075
(Increase) decrease in lease receivables (Notes 1 and 6)	(30,379)	(1,075)	10,230
Increase (decrease) in trade payables	3,293	52,138	(4,636)
Increase in accrued income taxes	3,472	24,017	43
Increase (decrease) in accrued expenses	23,407	(8,673)	(16,413)
Decrease in accrued pension and severance cost	(42,580)	(41,477)	(16,601)
Other, net	19,785	(7,568)	17,435
Net cash provided by operating activities	262,603	451,028	333,805
Cash flows from investing activities:
Purchases of fixed assets (Note 5)	(188,527)	(177,350)	(164,719)
Proceeds from sale of fixed assets (Note 5)	14,733	3,796	7,815
Purchases of held to maturity securities		(2,216)
Proceeds from maturity of held to maturity securities	2,151
Purchases of securities	(21,558)	(2,162)	(592)
Proceeds from sale and maturity of securities	7,680	1,714	558
Acquisitions of businesses, net of cash acquired (Note 7)	(5,890)	(31,751)	(127)
Other, net	10,591	713	1,626
Net cash used in investing activities	(180,820)	(207,256)	(155,439)
Cash flows from financing activities:
Proceeds from issuance of long-term debt (Note 9)	300	175,100	2,100
Repayments of long-term debt (Note 9)	(122,067)	(347,029)	(11,095)
(Decrease) increase in short-term loans related to financial services, net (Note 9)	(1,100)	(2,700)	5,100
Increase (decrease) in other short-term loans, net (Note 9)	197,826	(175)	542
Transaction with noncontrolling interests	3,700	1,527	1,376
Dividends paid	(119,326)	(88,891)	(126,938)
Repurchases and reissuance of treasury stock, net	(100,016)	(17)	(50,008)
Other, net	(6,161)	(5,181)	(4,526)
Net cash used in financing activities	(146,844)	(267,366)	(183,449)
Effect of exchange rate changes on cash and cash equivalents	25,767	17,305	(47)
Net change in cash and cash equivalents	(39,294)	(6,289)	(5,130)
Cash and cash equivalents at beginning of year	401,395	407,684	412,814
Cash and cash equivalents at end of year	362,101	401,395	407,684
Supplemental disclosure for cash flow information, Cash paid during the year for:
Interest	994	599	1,028
Income taxes	¥ 102,579	¥ 71,573	¥ 45,471

Consolidated Balance Sheets - JPY (¥) ¥ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents (Notes 1 and 22)	¥ 362,101	¥ 401,395
Short-term investments (Notes 2 and 22)	10,905	3,377
Trade receivables (Note 3)	636,803	522,432
Inventories (Note 4)	808,312	650,568
Current lease receivables (Notes 1 and 6)	137,038	121,324
Prepaid expenses and other current assets (Notes 15, 18 and 22)	215,990	193,165
Allowance for credit losses (Notes 3 and 6)	(15,235)	(13,916)
Total current assets	2,155,914	1,878,345
Noncurrent receivables (Note 20)	12,996	16,388
Investments (Notes 2 and 22)	65,128	60,967
Property, plant and equipment, net (Note 5)	1,035,065	1,041,403
Operating lease right-of-use assets (Note 19)	117,843	95,791
Intangible assets, net (Notes 7 and 8)	280,995	301,793
Goodwill (Notes 7 and 8)	972,626	953,850
Noncurrent lease receivables (Notes 1 and 6)	279,332	225,300
Other assets (Notes 11 and 12)	179,297	179,420
Allowance for credit losses (Note 6)	(3,666)	(2,369)
Total assets	5,095,530	4,750,888
Current liabilities:
Short-term loans and current portion of long-term debt (Notes 9 and 21)	296,384	44,891
Short term loans related to financial services	41,200	42,300
Other short-term loans and current portion of long-term debt	255,184	2,591
Trade payables (Note 10)	355,930	338,604
Accrued income taxes (Note 12)	48,414	43,081
Accrued expenses (Notes 11 and 20)	365,847	323,929
Current operating lease liabilities (Note 19)	33,281	30,945
Other current liabilities (Notes 5, 15, 18 and 22)	265,497	279,383
Total current liabilities	1,365,353	1,060,833
Long-term debt, excluding current portion of long-term debt (Notes 9 and 21)	2,417	179,750
Accrued pension and severance cost (Note 11)	189,215	248,467
Noncurrent operating lease liabilities (Note 19)	85,331	65,385
Other noncurrent liabilities (Notes 12 and 15)	104,184	98,024
Total liabilities	1,746,500	1,652,459
Canon Inc. shareholders' equity:
Common stock Authorized 3,000,000,000 shares; issued 1,333,763,464 shares in 2022 and 2021	174,762	174,762
Additional paid-in capital (Note 13)	404,838	403,119
Legal reserve (Note 13)	64,509	68,015
Retained earnings (Note 13)	3,664,735	3,538,037
Accumulated other comprehensive income (loss) (Note 14)	62,623	(151,794)
Treasury stock, at cost; 318,250,096 shares in 2022 and 287,991,705 shares in 2021	(1,258,362)	(1,158,366)
Total Canon Inc. shareholders' equity	3,113,105	2,873,773
Noncontrolling interests	235,925	224,656
Total equity	3,349,030	3,098,429
Total liabilities and equity	¥ 5,095,530	¥ 4,750,888