Honda 2013 Annual Report Download - page 55

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Yen (millions)
2012 2013
Cash flows from operating activities:
Net income ¥ 222,074 ¥ 392,638
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation excluding property on operating leases 345,105 335,536
Depreciation of property on operating leases 209,762 254,933
Deferred income taxes 49,661 53,252
Equity in income of affiliates (100,406) (82,723)
Dividends from affiliates 95,106 84,705
Provision for credit and lease residual losses on finance subsidiaries-receivables 13,032 10,059
Impairment loss on investments in securities 1,062 —
Damaged and impairment loss on long-lived assets excluding
property on operating leases 10,590 —
Impairment loss on property on operating leases 1,514 4,773
Loss (gain) on derivative instruments, net (1,847) 35,027
Decrease (increase) in assets:
Trade accounts and notes receivable (35,475) (90,495)
Inventories (154,222) (74,662)
Other current assets 2,883 2,019
Other assets (24,000) (27,243)
Increase (decrease) in liabilities:
Trade accounts and notes payable 242,814 (95,192)
Accrued expenses (25,718) 52,021
Income taxes payable (7,568) 21,764
Other current liabilities (12,395) (4,489)
Other liabilities (14,744) (4,384)
Other, net (55,690) (66,795)
Net cash provided by operating activities 761,538 800,744
Cash flows from investing activities:
Increase in investments and advances (23,129) (34,426)
Decrease in investments and advances 14,647 19,850
Payments for purchases of available-for-sale securities (1,784) (5,642)
Proceeds from sales of available-for-sale securities 1,879 1,347
Payments for purchases of held-to-maturity securities (26,078) (5,186)
Proceeds from redemptions of held-to-maturity securities 47,193 17,005
Proceeds from sales of investments in affiliates 9,957 —
Capital expenditures (397,218) (626,879)
Proceeds from sales of property, plant and equipment 23,260 44,182
Proceeds from insurance recoveries for damaged property, plant and equipment
16,217 9,600
Acquisitions of finance subsidiaries-receivables (1,784,720) (1,951,802)
Collections of finance subsidiaries-receivables 1,765,204 1,833,669
Purchases of operating lease assets (683,767) (793,118)
Proceeds from sales of operating lease assets 365,270 418,086
Other, net —3,558
Net cash used in investing activities (673,069) (1,069,756)
Cash flows from financing activities:
Proceeds from short-term debt 6,778,336 6,775,636
Repayments of short-term debt (6,882,932) (6,621,897)
Proceeds from long-term debt 1,151,971 1,101,469
Repayments of long-term debt (967,588) (970,702)
Dividends paid (108,138) (129,765)
Dividends paid to noncontrolling interests (15,763) (6,250)
Sales (purchases) of treasury stock, net (7) (7)
Other, net (24,109) (28,917)
Net cash provided by (used in) financing activities (68,230) 119,567
Effect of exchange rate changes on cash and cash equivalents (52,150) 108,460
Net change in cash and cash equivalents (31,911) (40,985)
Cash and cash equivalents at beginning of year 1,279,024 1,247,113
Cash and cash equivalents at end of year ¥ 1,247,113 ¥ 1,206,128
Consolidated Statements of Cash Flows
Years ended March 31, 2012 and 2013
Honda Motor Co., Ltd. 53