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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 Notes 2013 2014 2014
Cash flows from operating activities (A):
Income (loss) before income taxes and minority interests ¥ (52,119) ¥ 92,934 $ 902,272
Adjustments to reconcile income (loss) before income taxes and
minority interests to net cash provided by operating activities:
Depreciation and amortization 178,391 176,059 1,709,311
Impairment loss 62,551 9,621 93,408
Amortization of goodwill 14,231 9,708 94,252
Increase (decrease) in provisions 46,027 (38,720) (375,922)
Retirement benefit expenses, net of contribution (116,484) 4,573 44,398
Financial income and expenses, net 2,772 1,289 12,515
Equity in earnings of affiliates, net (6,705) (6,546) (63,553)
Loss on disposal of non-current assets 3,400 5,241 50,883
Gain on sales of investment securities 9 — (6,847) (66,476)
(Increase) decrease in receivables, trade 34,184 (58,867) (571,524)
(Increase) decrease in inventories 17,207 (2,810) (27,282)
Increase (decrease) in payables, trade (71,609) 46,284 449,359
Other, net (18,671) 12,975 125,971
Cash generated from operations 93,175 244,894 2,377,612
Interest and dividends received 4,934 6,543 63,524
Interest paid (7,193) (6,582) (63,903)
Income taxes paid (19,906) (69,323) (673,039)
Net cash provided by operating activities 71,010 175,532 1,704,194
Cash flows from investing activities (B):
Purchases of property, plant and equipment (111,531) (114,121) (1,107,971)
Proceeds from sales of property, plant and equipment 5,767 11,010 106,893
Purchases of intangible assets (64,448) (64,862) (629,728)
Proceeds from sales of investment securities 4,483 21,367 207,447
Proceeds from transfer of business 9 10,980 10,807 104,922
Other, net (6,732) 6,926 67,243
Net cash used in investing activities (161,481) (128,873) (1,251,194)
A+B * (90,471) 46,659 453,000
Cash flows from financing activities:
Increase (decrease) in short-term borrowings 148,007 (185,880) (1,804,660)
Proceeds from long-term debt 79,808 241,557 2,345,214
Repayment of long-term debt (87,583) (81,358) (789,883)
Dividends paid (23,104) (2,662) (25,845)
Other, net (16,744) (16,451) (159,718)
Net cash provided by (used in) financing activities 100,384 (44,794) (434,893)
Effect of exchange rate changes on cash and cash equivalents 7,409 15,267 148,223
Net increase (decrease) in cash and cash equivalents 17,322 17,132 166,330
Cash and cash equivalents at beginning of year 266,698 284,548 2,762,602
Increase in cash and cash equivalents of newly
consolidated subsidiaries 528 14 136
Decrease in cash and cash equivalents resulting from
exclusion of subsidiaries from consolidation —(532) (5,165)
Cash and cash equivalents at end of year 9¥ 284,548 ¥ 301,162 $ 2,923,903
Non-cash investing and financing activities:
Acquisition of assets under finance leases ¥ 12,032 ¥ 11,269 $ 109,408
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.
122 FUJITSU LIMITED ANNUAL REPORT 2014