Brother International 2014 Annual Report Download - page 26

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25
Brother Industries, Ltd. and Consolidated Subsidiaries
Year ended March 31, 2014
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2014 2013 2014
OPERATING ACTIVITIES:
Income before income taxes and minority interests ¥33,527 ¥ 27,946 $325,505
Adjustments for:
Income taxes - paid (9,755) (8,816) (94,709)
Depreciation and amortization 27,614 24,477 268,097
Loss on impairment of long-lived assets 2,122 269 20,602
Amortization of goodwill 1,538 1,419 14,932
Loss on sales and disposals of property, plant and equipment, net 459 170 4,456
Foreign exchange loss (gain) 2,092 (2,421) 20,311
(Gain) loss on valuation of derivatives (4,461) 4,625 (43,311)
Gain on sales of investment securities (465) (1,724) (4,515)
Gain on negative goodwill —(7,194) —
Loss on step acquisitions —3,843 —
Changes in assets and liabilities:
Increase in trade notes and accounts receivable (5,423) (4,501) (52,650)
(Increase) decrease in inventories (5,994) 2,333 (58,194)
Increase (decrease) in trade notes and accounts payable 6,973 (6,673) 67,699
Increase (decrease) in accrued expenses 808 (1,729) 7,845
Increase in liability for retirement benefits 1,752 430 17,010
Increase in allowance for doubtful accounts 884 1,443 8,583
Increase in liability for warranty reserve 899 178 8,728
Other - net 2,449 (1,341) 23,776
Total adjustments 21,492 4,788 208,660
Net cash provided by operating activities 55,019 32,734 534,165
INVESTING ACTIVITIES:
Proceeds from sales of property, plant and equipment 1,361 1,080 13,214
Proceeds from sales and redemption of marketable securities 5,103 1,301 49,544
Proceeds from sales and redemption of investment securities 2,761 2,660 26,806
Disbursement for purchases of property, plant and equipment (27,634) (24,942) (268,291)
Disbursement for purchases of intangible assets (6,635) (5,723) (64,417)
Disbursement for purchases of investment securities (11,152) (2,170) (108,272)
Disbursement for purchases of affiliates' shares (1,059) (6,617) (10,282)
Disbursement for purchases of investment in affiliates (2,188) —(21,243)
Acquisition of a newly consolidated subsidiary, net of cash acquired —(7,011) —
Other - net 343 (350) 3,329
Net cash used in investing activities (39,100) (41,772) (379,612)
FORWARD ¥15,919 ¥(9,038) $154,553
onsolidated Statement of Cash Flows
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