Canon 2006 Annual Report Download - page 63

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Thousands of
Millions of yen U.S. dollars (note 2)
2006 2005 2004 2006
Cash flows from operating activities:
Net income ¥ 455,325 384,096 343,344 $ 3,826,261
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 262,294 225,941 192,692 2,204,151
Loss on disposal of property, plant and equipment 16,182 13,784 24,597 135,983
Deferred income taxes (6,945) (766) 9,060 (58,361)
Increase in trade receivables (40,969) (48,391) (53,595) (344,277)
(Increase) decrease in inventories (5,542) 27,558 (40,050) (46,571)
(Decrease) increase in trade payables (2,313) 16,018 65,873 (19,437)
Increase in income taxes 22,657 1,998 21,689 190,395
Increase in accrued expenses 36,165 31,241 8,196 303,908
Decrease in accrued pension and severance cost (20,309) (16,221) (16,924) (170,664)
Other, net (21,304) (29,580) 6,647 (179,027)
Net cash provided by operating activities 695,241 605,678 561,529 5,842,361
Cash flows from investing activities:
Purchases of fixed assets (424,862) (395,055) (256,714) (3,570,269)
Proceeds from sale of fixed assets 12,507 14,827 7,431 105,101
Purchases of available-for-sale securities (7,768) (5,680) (388) (65,277)
Purchases of held-to-maturity securities ——(21,544) —
Proceeds from sale of available-for-sale securities 4,047 12,337 9,735 34,008
Increase in time deposits (35,863) (6,090) —(301,370)
Acquisitions of subsidiaries, net of cash acquired (2,485) (17,657) —(20,882)
Proceeds from sale of subsidiary common stock —— 9,731 —
Purchases of other investments (8,911) (19,531) (8,628) (74,882)
Other, net 2,530 15,708 7,410 21,260
Net cash used in investing activities (460,805) (401,141) (252,967) (3,872,311)
Cash flows from financing activities:
Proceeds from issuance of long-term debt 1,053 1,716 2,115 8,849
Repayments of long-term debt (5,861) (15,187) (43,175) (49,252)
Decrease in short-term loans (828) (12,011) (3,046) (6,958)
Dividends paid (104,298) (64,310) (52,950) (876,454)
Purchases of treasury stock, net (462) (147) (494) (3,882)
Other, net 2,909 (4,000) (4,718) 24,445
Net cash used in financing activities (107,487) (93,939) (102,268) (903,252)
Effect of exchange rate changes on cash and
cash equivalents 23,724 6,581 (8,818) 199,362
Net increase in cash and cash equivalents 150,673 117,179 197,476 1,266,160
Cash and cash equivalents at beginning of year 1,004,953 887,774 690,298 8,444,983
Cash and cash equivalents at end of year ¥1,155,626 1,004,953 887,774 $ 9,711,143
Supplemental disclosure for cash flow information
(note 22):
Cash paid during the year for:
Interest ¥ 2,146 1,919 2,981 $ 18,034
Income taxes 244,236 211,540 164,450 2,052,403
See accompanying notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF CASH FLOWS
CANON INC. AND SUBSIDIARIES Year ended December 31 2006, 2005 and 2004
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