Casio 2008 Annual Report Download - page 30

28 CASIO COMPUTER CO., LTD.
Consolidated Statements of Cash Flows
Millions of Yen
Thousands of
U.S. Dollars (Note 1)
2008 2007 2008
Cash flows from operating activities:
Income before income taxes and minority interests ................................................................ ¥23,888 ¥ 41,383 $238,880
Depreciation (including software) ........................................................................................... 33,959 31,613 339,590
Loss (Gain) on disposal and sales of property, plant and equipment ....................................... (2,270) 751 (22,700)
Loss (Gain) on devaluation and sales of investment securities ................................................. 576 (1,102) 5,760
Gain on sales of consolidated subsidiaries and affiliates.......................................................... —(231) —
Government grants ................................................................................................................ (540) (360) (5,400)
Decrease in liabilities for the employees’ severance and retirement benefits ........................... (772) (411) (7,720)
Increase in retirement benefits for directors and corporate auditors........................................ 71 600 710
Interest and dividends income ................................................................................................ (2,882) (2,713) (28,820)
Interest expense ..................................................................................................................... 1,380 1,607 13,800
Foreign exchange loss (gain) .................................................................................................. 619 (1,158) 6,190
Equity in gains of affiliates ..................................................................................................... (79) (135) (790)
Loss on transfer of business (Note 16) .................................................................................... 7,922 —79,220
Changes in assets and liabilities:
Decrease (Increase) in notes and accounts receivable ........................................................ 22,988 (21,208) 229,880
Decrease (Increase) in inventories ...................................................................................... 8,150 (7,652) 81,500
Decrease (Increase) in other current assets ........................................................................ 3,710 (3,756) 37,100
Increase (Decrease) in notes and accounts payable ............................................................ (4,531) 10,076 (45,310)
Increase in consumption tax payable ................................................................................. 1,076 710,760
Increase (Decrease) in other current liabilities .................................................................... (7,886) 4,410 (78,860)
Increase (Decrease) in trade notes and export drafts discounted ........................................ 474 (559) 4,740
Payments of bonuses to directors and corporate auditors ....................................................... —(208) —
Other ..................................................................................................................................... (1,308) (1,898) (13,080)
Total ................................................................................................................................ 84,545 49,056 845,450
Interest and dividends received .............................................................................................. 3,007 2,737 30,070
Interest paid .......................................................................................................................... (1,559) (1,636) (15,590)
Income taxes paid .................................................................................................................. (14,244) (14,208) (142,440)
Net cash provided by operating activities .................................................................... 71,749 35,949 717,490
Cash flows from investing activities:
Deposits in time deposits ....................................................................................................... (1,282) (1,135) (12,820)
Withdrawals from time deposits ............................................................................................ 1,232 1,132 12,320
Payments for acquisitions of tangible fixed assets ................................................................... (22,538) (16,865) (225,380)
Proceeds from sales of tangible fixed assets ........................................................................... 6,539 595 65,390
Payments for acquisitions of intangible fixed assets ................................................................ (15,521) (17,942) (155,210)
Payments for purchases of investment securities .................................................................... (7,086) (9,039) (70,860)
Proceeds from sales and redemption of investment securities ................................................. 4,132 4,717 41,320
Payments for acquisitions of consolidated subsidiaries and affiliates ....................................... (1,900) —(19,000)
Proceeds from sales of consolidated subsidiaries and affiliates ................................................ —319 —
Payments for long-term loans receivable ................................................................................ (25) (45) (250)
Collections from long-term loans receivable ........................................................................... 60 30 600
Net decrease (increase) in loans receivable ............................................................................. (1) 1(10)
Other ..................................................................................................................................... 288 553 2,880
Net cash used in investing activities ............................................................................. (36,102) (37,679) (361,020)
Cash flows from financing activities:
Net increase (decrease) in short-term borrowings ................................................................... (4,150) 4,285 (41,500)
Proceeds from long-term debt ............................................................................................... 8,000 —80,000
Payments for long-term debt ................................................................................................. (30,000) (20,747) (300,000)
Redemption of bonds ............................................................................................................ (10,000) —(100,000)
Payments for acquisitions of treasury stock ............................................................................ (25) (6,557) (250)
Proceeds from sales of treasury stock ..................................................................................... 59 338 590
Payments for cash dividends ................................................................................................. (6,346) (5,319) (63,460)
Proceeds from minority shareholders ..................................................................................... 600 —6,000
Other ..................................................................................................................................... (623) (713) (6,230)
Net cash used in financing activities ............................................................................. (42,485) (28,713) (424,850)
Effect of exchange rate changes on cash and cash equivalents ........................................... (2,444) 2,450 (24,440)
Net decrease in cash and cash equivalents ............................................................................. (9,282) (27,993) (92,820)
Cash and cash equivalents at beginning of year (Note 3) ...................................................... 97,239 125,232 972,390
Cash and cash equivalents at end of year (Note 3) ................................................................. ¥87,957 ¥ 97,239 $879,570
See accompanying notes.
Years ended March 31, 2008 and 2007 Casio Computer Co., Ltd. and Subsidiaries