Canon 2008 Annual Report Download - page 69

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67
CONSOLIDATED STATEMENTS OF CASH FLOWS
CANON INC. AND SUBSIDIARIES Years ended December 31, 2008, 2007 and 2006
Millions of yen
Thousands of
U.S. dollars (Note 2)
2008 2007 2006 2008
Cash fl ows from operating activities:
Net income ¥ 309,148 ¥ 488,332 ¥ 455,325 $ 3,397,231
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 341,337 341,694 262,294 3,750,956
Loss on disposal of property, plant and equipment 11,811 9,985 16,182 129,791
Deferred income taxes (32,497) (35,021) (6,945) (357,110)
(Increase) decrease in trade receivables 83,521 (10,722) (40,969) 917,813
(Increase) decrease in inventories 49,547 (26,643) (5,542) 544,473
Increase (decrease) in trade payables (36,719) 21,136 (2,313) (403,505)
Increase (decrease) in accrued income taxes (77,340) 14,988 22,657 (849,890)
Increase (decrease) in accrued expenses (30,694) 43,035 36,165 (337,297)
Decrease in accrued (prepaid) pension and
severance
cost
(12,128) (15,387) (20,309) (133,275)
Other, net 10,698 7,872 (21,304) 117,560
Net cash provided by operating activities 616,684 839,269 695,241 6,776,747
Cash fl ows from investing activities:
Purchases of fi xed assets (Note 7) (428,168) (474,285) (424,862) (4,705,143)
Proceeds from sale of fi xed assets (Note 7) 7,453 9,635 12,507 81,901
Purchases of available-for-sale securities (7,307) (2,281) (7,768) (80,297)
Proceeds from sale and maturity of
available-for-sale
securities 4,320 8,614 4,047 47,473
Proceeds from maturity of held-to-maturity securities 10,000 10,000 — 109,890
(Increase) decrease in time deposits 2,892 31,681 (35,863) 31,780
Acquisitions of subsidiaries, net of cash acquired (5,999) (15,675) (2,485) (65,923)
Purchases of other investments (45,473) (2,432) (8,911) (499,703)
Other, net (10,198) 2,258 2,530 (112,066)
Net cash used in investing activities (472,480) (432,485) (460,805) (5,192,088)
Cash fl ows from fi
nancing activities:
Proceeds from issuance of long-term debt 6,841 2,635 1,053 75,176
Repayments of long-term debt (15,397) (13,046) (5,861) (169,198)
Decrease in short-term loans (2,643) (358) (828) (29,044)
Dividends paid (145,024) (131,612) (104,298) (1,593,670)
Repurchases of treasury stock, net (100,066) (450,311) (462) (1,099,626)
Other, net (21,276) (11,691) 2,909 (233,803)
Net cash used in fi nancing activities (277,565) (604,383) (107,487) (3,050,165)
Effect of exchange rate changes on cash and
cash
equivalents
(131,906) (13,564) 23,724 (1,449,516)
Net increase (decrease) in cash and cash equivalents (265,267) (211,163) 150,673 (2,915,022)
Cash and cash equivalents at beginning of year 944,463 1,155,626 1,004,953 10,378,714
Cash and cash equivalents at end of year ¥ 679,196 ¥ 944,463 ¥ 1,155,626 $ 7,463,692
Supplemental disclosure for cash fl ow information:
Cash paid during the year for:
Interest ¥ 901 ¥ 1,476 ¥ 2,146 $ 9,901
Income taxes 263,392 273,888 244,236 2,894,418
See accompanying notes to consolidated fi nancial statements.