Alpine 2011 Annual Report Download - page 20

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See accompanying notes
20
Years ended March 31, 2011, 2010 and 2009
ALPINE ELECTRONICS, INC.
Consolidated Statements of Cash Flows
Millions of Yen
Thousands of U.S.
Dollars(Note 1)
2011 2010 2009 2011
Cash flows from operating activities:
Income (loss) before income taxes and minority interests ¥ 8,510 ¥ 12 ¥ (4,035) $ 102,345
Adjustments to reconcile income (loss) before income taxes
and minority interests to cash provided by operating activities:
Depreciation and amortization (Note13) 7,442 8,352 10,336 89,501
Increase (decrease) in provision for retirement benefits 83 38 (16) 998
Increase (decrease) in provision for directors' retirement benefits (25) (90) 28 (301)
Interest and dividends income (494) (444) (752) (5,941)
Interest expenses 198 150 122 2,381
Equity in earnings of affiliates (950) (1,358) (1,143) (11,425)
Loss (gain) on sale of property, plant and equipment (33) (45) 11 (397)
Gain on exchanges of land use rights – (224) – –
Decrease (increase) in notes and accounts receivable–trade (1,395) (10,845) 10,241 (16,777)
Decrease (increase) in inventories (5,010) 1,129 6,349 (60,252)
Increase (decrease) in notes and accounts payable–trade 1,424 10,973 (9,234) 17,126
Increase (decrease) in provision for product warranties 836 502 (814) 10,054
Gain on valuation of options
– – (2,578) –
Gain on settlement and valuation of options (102) (128) – (1,227)
Other–net 5,729 1,983 2,133 68,900
Subtotal 16,213 10,005 10,648 194,985
Interest and dividends income received 877 443 783 10,547
Interest expenses paid (203) (144) (119) (2,441)
Income taxes paid (2,595) (973) (1,669) (31,209)
Income taxes refund 79 528 1,037 950
Net cash provided by operating activities 14,371 9,859 10,680 172,832
Cash flows from investing activities:
Purchase of short–term investment securities (3,000) – – (36,079)
Proceeds of sales of short–term investment securities 3,000 – – 36,079
Purchase of property, plant and equipment (3,708) (2,998) (7,139) (44,594)
Proceeds from sales of property, plant and equipment 248 215 88 2,983
Purchase of intangible assets (1,255) (1,222) (3,156) (15,093)
Proceeds from sales of investments – – 131 –
Purchase of investments in subsidiaries – (44) (544) –
Purchase of stocks of subsidiaries and affiliates – – (245) –
Payments of loans receivable (3,660) (1,483) (1,858) (44,017)
Collection of loans receivable 3,021 1,792 66 36,331
Other–net 1,004 (223) (193) 12,075
Net cash used in investment activities
(4,350) (3,963) (12,850) (52,315)
Cash flows from financing activities:
Net increase (decrease) in short–term loans payable 7(1,594) 1,576 84
Proceeds from long–term loans payable – 10,002 – –
Repayment of long–term loans payable (4,602) – – (55,346)
Cash dividends paid (698) (2) (1,744) (8,394)
Cash dividends paid to minority shareholders (13) (163) (16) (156)
Proceeds from stock issuance to minority shareholders – 43 – –
Other–net
(105) (136) (145) (1,263)
Net cash provided by (used in) financing activities
(5,411) 8,150 (329) (65,075)
Effect of exchange rate change on cash and cash equivalents
(570) (343) (1,519) (6,855)
Net increase (decrease) in cash and cash equivalents 4,040 13,703 (4,018) 48,587
Cash and cash equivalents at beginning of period
39,844 26,141 30,159 479,182
Cash and cash equivalents at end of period
¥43,884 ¥39,844 ¥ 26,141 $ 527,769