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Consolidated Statements of Cash Flows
Fujitsu Limited and Consolidated Subsidiaries
Yen
(millions)
U.S. Dollars
(thousands)
(Note 2)
Years ended March 31 2011 2012 2012
Cash flows from operating activities (A):
Income before income taxes and minority interests ¥ 102,236 ¥ 66,717 $ 813,622
Adjustments to reconcile income before income taxes and
minority interests to net cash provided by operating activities:
Depreciation and amortization 207,767 194,449 2,371,329
Impairment loss 1,579 3,241 39,524
Amortization of goodwill 15,610 15,099 184,134
Increase (decrease) in provisions (45,500) (11,666) (142,268)
Interest and dividend income (6,121) (6,203) (75,646)
Interest charges 11,728 9,283 113,207
Equity in earnings of affiliates, net (3,804) (3,060) (37,317)
Loss on disposal of non-current assets 7,309 5,274 64,317
Gain on sales of investment securities, net (9,366) — —
(Increase) decrease in receivables, trade 25,687 (33,914) (413,585)
(Increase) decrease in inventories (22,706) 4,647 56,671
Increase (decrease) in payables, trade (1,718) 20,826 253,976
Other, net 13,361 15,798 192,659
Cash generated from operations 296,062 280,491 3,420,622
Interest and dividends received 6,893 6,770 82,561
Interest paid (11,179) (12,588) (153,512)
Income taxes paid (36,242) (34,663) (422,720)
Net cash provided by operating activities 255,534 240,010 2,926,951
Cash flows from investing activities (B):
Purchases of property, plant and equipment (122,267) (137,786) (1,680,317)
Proceeds from sales of property, plant and equipment 6,861 6,135 74,817
Purchases of intangible assets (59,693) (57,542) (701,732)
Purchases of investment securities (16,029) (6,358) (77,537)
Proceeds from sales of investment securities 35,120 5,618 68,512
Proceeds from acquisition of subsidiaries’ stock resulting in
change in scope of consolidation 715 45 549
Proceeds from transfer of business 4,214 — —
Other, net 8,971 (942) (11,488)
Net cash used in investing activities (142,108) (190,830) (2,327,195)
A+B* 113,426 49,180 599,756
Cash flows from financing activities:
Increase (decrease) in short-term borrowings 7,373 (3,522) (42,951)
Proceeds from long-term debt 63,739 96,118 1,172,171
Repayment of long-term debt (174,142) (181,435) (2,212,622)
Proceeds from sales of treasury stock 24 18 220
Purchase of treasury stock (145) (126) (1,537)
Dividends paid (23,187) (22,666) (276,415)
Other, net (40,595) (27,353) (333,573)
Net cash used in financing activities (166,933) (138,966) (1,694,707)
Effect of exchange rate changes on cash and
cash equivalents (8,091) (6,209) (75,720)
Net decrease in cash and cash equivalents (61,598) (95,995) (1,170,671)
Cash and cash equivalents at beginning of year 420,166 358,593 4,373,085
Cash and cash equivalents of newly
consolidated subsidiaries 25 4,100 50,000
Cash and cash equivalents at end of year ¥ 358,593 ¥ 266,698 $ 3,252,415
Non-cash investing and financing activities:
Acquisition of assets under finance leases ¥ 13,171 ¥ 17,674 $ 215,537
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
* This is referred to as “free cash flow” in Management’s Discussion and Analysis of Operations.
108 FUJITSU LIMITED ANNUAL REPORT 2012