Canon Inc. (CAJ) | Debt and Solvency

Ratios (Summary)

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Canon Inc., debt and solvency ratios

Source: Based on data from Canon Inc. Annual Reports

Ratio	Description	The company
Debt-to-equity ratio	A solvency ratio calculated as total debt divided by total shareholders' equity.	Canon Inc.'s debt-to-equity ratio deteriorated from 2009 to 2010 and from 2010 to 2011.
Debt-to-capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders' equity.	Canon Inc.'s debt-to-capital ratio deteriorated from 2009 to 2010 and from 2010 to 2011.
Interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments.	Canon Inc.'s interest coverage ratio deteriorated from 2009 to 2010 but then slightly improved from 2010 to 2011.

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		Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008	Dec 31, 2007
	Selected Financial Data (USD $ in millions, translated from JPY ￥)
	Short-term loans and current portion of long-term debt
	Long-term debt, excluding current installments
	Total debt
	Canon Inc. stockholders’ equity
	Debt to Equity, Comparison to Industry
	Canon Inc.¹
	Industry, Technology

Source: Based on data from Canon Inc. Annual Reports

2011 Calculations

¹ Debt to equity = Total debt ÷ Canon Inc. stockholders’ equity
= ÷ =

Ratio	Description	The company
Debt-to-equity ratio	A solvency ratio calculated as total debt divided by total shareholders' equity.	Canon Inc.'s debt-to-equity ratio deteriorated from 2009 to 2010 and from 2010 to 2011.

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		Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008	Dec 31, 2007
	Selected Financial Data (USD $ in millions, translated from JPY ￥)
	Short-term loans and current portion of long-term debt
	Long-term debt, excluding current installments
	Total debt
	Canon Inc. stockholders’ equity
	Total capital
	Debt to Capital, Comparison to Industry
	Canon Inc.¹
	Industry, Technology

Source: Based on data from Canon Inc. Annual Reports

2011 Calculations

¹ Debt to capital = Total debt ÷ Total capital
= ÷ =

Ratio	Description	The company
Debt-to-capital ratio	A solvency ratio calculated as total debt divided by total debt plus shareholders' equity.	Canon Inc.'s debt-to-capital ratio deteriorated from 2009 to 2010 and from 2010 to 2011.

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		Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008	Dec 31, 2007
	Selected Financial Data (USD $ in millions, translated from JPY ￥)
	Net income attributable to Canon Inc.
	Add: Net income attributable to noncontrolling interests
	Add: Interest expense
	Add: Income tax expense (benefit)
	Earnings before interest and tax (EBIT)
	Interest Coverage, Comparison to Industry
	Canon Inc.¹
	Industry, Technology

Source: Based on data from Canon Inc. Annual Reports

2011 Calculations

¹ Interest coverage = EBIT ÷ Interest expense
= ÷ =

Ratio	Description	The company
Interest coverage ratio	A solvency ratio calculated as EBIT divided by interest payments.	Canon Inc.'s interest coverage ratio deteriorated from 2009 to 2010 but then slightly improved from 2010 to 2011.