Hitachi 2009 Annual Report Download - page 41

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Millions of yen
Thousands of
U.S. dollars (note 3)
2009 2008 2007 2009
Cash flows from operating activities (note 24):
Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥(787,337) ¥ (58,125) ¥ (32,799) $(8,034,051)
Adjustments to reconcile net loss to net cash provided
by operating activities:
Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 478,759 541,470 472,175 4,885,296
Amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 178,164 146,136 149,823 1,818,000
Impairment losses for long-lived assets . . . . . . . . . . . . . . . . . . . . . . . . 128,400 87,549 9,918 1,310,204
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 403,968 84,587 20,514 4,122,122
Equity in net (earnings) loss of affiliated companies . . . . . . . . . . . . . . . . 162,205 (22,586) (11,289) 1,655,153
Gain on sale of investments and subsidiaries’ common stock . . . . . . . (1,353) (94,798) (53,240) (13,806)
Impairment of investments in securities . . . . . . . . . . . . . . . . . . . . . . . . 45,016 14,411 8,309 459,347
Loss on disposal of rental assets and other property . . . . . . . . . . . . . . 24,483 13,424 31,590 249,826
Income (loss) applicable to minority interests . . . . . . . . . . . . . . . . . . . . (7,783) 110,744 72,323 (79,418)
Decrease in receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 342,008 47,843 52,599 3,489,878
Increase in inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (57,206) (107,546) (212,028) (583,735)
(Increase) decrease in prepaid expenses and other current assets . . . . 12,772 (32,763) (80,172) 130,327
Increase (decrease) in payables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (359,230) 42,453 104,987 (3,665,612)
Decrease in accrued expenses and retirement and severance benefits . (27,050) (38,303) (21,166) (276,020)
Increase (decrease) in accrued income taxes . . . . . . . . . . . . . . . . . . . . (76,343) 12,841 18,623 (779,010)
Increase in other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,711 61,041 38,470 405,214
Net change in inventory-related receivables from financial services . . . . 2,117 (11,392) (9,819) 21,602
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57,646 (5,149) 56,224 588,224
Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . 558,947 791,837 615,042 5,703,541
Cash flows from investing activities (note 24):
(Increase) decrease in short-term investments . . . . . . . . . . . . . . . . . . . . . 50,811 (25,437) 25,054 518,480
Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (422,109) (474,344) (497,771) (4,307,235)
Purchase of assets to be leased . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (307,314) (365,989) (441,614) (3,135,857)
Collection of investments in leases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 234,984 311,321 318,063 2,397,796
Proceeds from disposal of rental assets and other property . . . . . . . . . . . 46,511 63,067 43,982 474,602
Proceeds from sale of investments and subsidiaries’ common stock . . . . . 58,260 161,442 69,842 594,490
Purchase of investments and subsidiaries’ common stock . . . . . . . . . . . . (56,637) (254,569) (169,530) (577,929)
Purchase of software . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (132,181) (126,453) (123,876) (1,348,786)
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (22,333) 73,344 (10,320) (227,888)
Net cash used in investing activities . . . . . . . . . . . . . . . . . . . . . . . . . (550,008) (637,618) (786,170) (5,612,327)
Cash flows from financing activities (note 24):
Increase (decrease) in short-term debt, net . . . . . . . . . . . . . . . . . . . . . . . 314,899 (200,018) 93,917 3,213,255
Proceeds from long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 467,341 404,190 380,646 4,768,786
Payments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (441,550) (381,069) (309,204) (4,505,612)
Proceeds from sale of common stock by subsidiaries . . . . . . . . . . . . . . . 900 42,307 23,078 9,183
Dividends paid to stockholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (19,826) (19,889) (28,243) (202,306)
Dividends paid to minority stockholders of subsidiaries . . . . . . . . . . . . . . (28,406) (25,787) (20,761) (289,857)
Acquisition of subsidiaries’ common stock for treasury . . . . . . . . . . . . . . (8,693) (4,570) (7,075) (88,704)
Acquisition of common stock for treasury . . . . . . . . . . . . . . . . . . . . . . . . . (841) (1,145) (12,000) (8,582)
Proceeds from sales of treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . 564 425 901 5,755
Net cash provided by (used in) financing activities . . . . . . . . . . . . . . . 284,388 (185,556) 121,259 2,901,918
Effect of exchange rate changes on cash and cash equivalents . . . . . . . . . . (46,361) (25,569) 9,480 (473,071)
Net increase (decrease) in cash and cash equivalents . . . . . . . . . . . . . . . . . 246,966 (56,906) (40,389) 2,520,061
Cash and cash equivalents at beginning of year . . . . . . . . . . . . . . . . . . . . . 560,960 617,866 658,255 5,724,082
Cash and cash equivalents at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 807,926 ¥ 560,960 ¥ 617,866 $ 8,244,143
See accompanying notes to consolidated financial statements.
Consolidated Statements of Cash Flows
Hitachi, Ltd. and Subsidiaries
Years ended March 31, 2009, 2008 and 2007
39
Hitachi, Ltd.
Annual Report 2009