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16 Brother Annual Report 2008
CONSOLIDATED STATEMENTS OF CASH FLOWS
Brother Industries, Ltd. and Consolidated Subsidiaries
Years ended March 31, 2008 and 2007
Thousands of
U.S. dollars
Millions of Yen (Note 1)
2008 2007 2008
OPERATING ACTIVITIES:
Income before income taxes and minority interests ¥ 46,282 ¥ 45,788 $ 462,820
Adjustments for:
Income taxes - paid (18,037) (10,402) (180,370)
Depreciation and amortization 22,227 18,442 222,270
Impairment loss 28 46 280
Amortization of goodwill 520 386 5,200
Loss (Gain) on sales and disposals of property, plant and equipment, net 199 (366) 1,990
Foreign exchange loss (gain) 2,153 (1,530) 21,530
Changes in operating assets and liabilities :
Decrease (Increase) in trade notes and accounts receivable 5,360 (8,200) 53,600
Increase in inventories (4,295) (2,015) (42,950)
Increase (Decrease) in trade notes and accounts payable 2,085 (2,586) 20,850
(Decrease) Increase in accrued expenses (1,864) 5,551 (18,640)
Decrease in liability for retirement benefits (189) (110) (1,890)
Increase (Decrease) in allowance for doubtful accounts 669 (459) 6,690
Increase in liability for warranty reserve 325 620 3,250
Other - net 2,752 2,608 27,520
Total adjustments 11,933 1,985 119,330
Net cash provided by operating activities 58,215 47,773 582,150
INVESTING ACTIVITIES:
Proceeds from sales of property, plant and equipment 2,905 2,972 29,050
Proceeds from sales of investment securities 471 946 4,710
Proceeds from collection of loans 80 97 800
Disbursement for purchases of property, plant and equipment (22,304) (23,826) (223,040)
Disbursement for purchases of investment securities (3,534) (3,610) (35,340)
Disbursement for purchases of intangible assets (5,907) (5,136) (59,070)
Disbursement for acquisition of shares of a new consolidated subsidiary —- (4,645) —
Disbursement for transfer of at-home sales business —- (386) —
Disbursement for purchases of affiliates' shares (248) (966) (2,480)
Other - net (781) (1,310) (7,810)
Net cash used in investing activities (29,318) (35,864) (293,180)
FORWARD ¥ 28,897 ¥ 11,909 $ 288,970