Brother International 2011 Annual Report Download - page 24

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Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2011 2010 2011
OPERATING ACTIVITIES:
Income before income taxes and minority interests ¥ 34,062 ¥ 26,234 $ 410,386
Adjustments for:
Income taxes - paid (9,077) (6,508) (109,361)
Depreciation and amortization 24,027 21,028 289,482
Loss on impairment of long-lived assets 1,473 315 17,747
Amortization of goodwill 2,569 709 30,952
Loss (gain) on sales and disposals of property, plant and equipment, net 661 (654) 7,964
Foreign exchange loss 1,157 459 13,940
Loss on transfer to defined contribution pension plan 2,985
Changes in assets and liabilities:
Decrease (increase) in trade notes and accounts receivable 1,094 (450) 13,181
(Increase) decrease in inventories (11,800) 9,092 (142,169)
Increase in trade notes and accounts payable 977 6,793 11,771
Decrease in accrued expenses (232) (11,006) (2,795)
Increase in liability for retirement benefits 629 1,301 7,578
Increase in allowance for doubtful accounts 776 1,249 9,349
(Decrease) increase in liability for warranty reserve (334) 3,278 (4,024)
Other - net 3,507 (4,477) 42,252
Total adjustments 15,427 24,114 185,867
Net cash provided by operating activities 49,489 50,348 596,253
INVESTING ACTIVITIES:
Proceeds from sales of property, plant and equipment 2,640 2,664 31,807
Proceeds from sales of investment securities 56 0 675
Proceeds from collection of loans 816 —9,831
Disbursement for purchases of property, plant and equipment (16,741) (12,805) (201,699)
Disbursement for purchases of investment securities (700) (146) (8,434)
Disbursement for purchases of intangible assets (4,162) (5,483) (50,144)
Disbursement for purchases of affiliates’ shares (1,281) (1,863) (15,434)
Disbursement for purchases of investment in affiliates (344) (1,705) (4,144)
Proceeds from acquisition of shares with the change in scope of consolidation 1,124
Other - net (327) 153 (3,940)
Net cash used in investing activities (20,043) (18,061) (241,482)
FINANCING ACTIVITIES:
Increase (decrease) in short-term borrowings, net 2,321 (26,917) 27,963
Repayments of long-term debt (5,107) (48) (61,530)
Repayments of lease obligations (2,493) —(30,036)
Cash dividends paid (5,912) (5,375) (71,229)
Increase in treasury stock, net (9) (34) (108)
Other - net 250 201 3,012
Net cash used in financing activities (10,950) (32,173) (131,928)
EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGES
ON CASH AND CASH EQUIVALENTS (2,561) 1,769 (30,855)
NET INCREASE IN CASH AND CASH EQUIVALENTS 15,935 1,883 191,988
CASH AND CASH EQUIVALENTS OF NEWLY CONSOLIDATED SUBSIDIARIES 135 1,020 1,626
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 49,031 46,128 590,735
CASH AND CASH EQUIVALENTS, END OF YEAR ¥ 65,101 ¥ 49,031 $ 784,349
Additional information
Assets and liabilities increased due to acquisition of shares of newly consolidated
subsidiaries
Assets ¥ 30,882
Liabilities (37,967)
Cash paid for the capital 158
Goodwill 7,243
See notes to consolidated financial statements.
Brother Industries, Ltd. and Consolidated Subsidiaries
Years ended March 31, 2011 and 2010
22 Brother Annual Report 2011
Consolidated Statements of Cash Flows