Honda 2014 Annual Report Download - page 51

Yen (millions)
2013 2014
Cash flows from operating activities:
Net income ¥ 392,638 ¥ 608,749
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation excluding property on operating leases 335,536 442,318
Depreciation of property on operating leases 254,933 352,402
Deferred income taxes 53,252 45,426
Equity in income of affiliates (82,723) (132,471)
Dividends from affiliates 84,705 98,955
Provision for credit and lease residual losses
on finance subsidiaries—receivables 10,059 18,904
Impairment loss on property on operating leases 4,773 3,301
Loss (gain) on derivative instruments, net 35,027 (39,376)
Decrease (increase) in assets:
Trade accounts and notes receivable (90,495) (92,638)
Inventories (74,662) (2,901)
Other current assets 2,019 (7,363)
Other assets (27,243) (59,816)
Increase (decrease) in liabilities:
Trade accounts and notes payable (95,192) 70,988
Accrued expenses 52,021 49,718
Income taxes payable 21,764 (8,688)
Other current liabilities (4,489) 31,404
Other liabilities (4,384) (53,815)
Other, net (66,795) (95,906)
Net cash provided by operating activities 800,744 1,229,191
Consolidated Statements of Cash Flows
Fiscal years ended March 31, 2013 and 2014
Yen (millions)
2013 2014
Cash flows from investing activities:
Increase in investments and advances ¥ (34,426) ¥ (45,617)
Decrease in investments and advances 19,850 58,243
Payments for purchases of available-for-sale securities (5,642) (44,459)
Proceeds from sales of available-for-sale securities 1,347 14,501
Payments for purchases of held-to-maturity securities (5,186) (20,771)
Proceeds from redemptions of held-to-maturity securities 17,005 3,358
Proceeds from sales of subsidiaries,
net of cash and cash equivalents disposed —9,129
Proceeds from sales of investments in affiliates —5,363
Capital expenditures (626,879) (774,006)
Proceeds from sales of property, plant and equipment 44,182 34,069
Proceeds from insurance recoveries for damaged
property, plant and equipment 9,600 6,800
Acquisitions of finance subsidiaries—receivables (1,951,802) (2,792,774)
Collections of finance subsidiaries—receivables 1,833,669 2,354,029
Purchases of operating lease assets (793,118) (1,127,840)
Proceeds from sales of operating lease assets 418,086 611,317
Other, net 3,558 (86)
Net cash used in investing activities (1,069,756) (1,708,744)
Cash flows from financing activities:
Proceeds from short-term debt 6,775,636 8,559,288
Repayments of short-term debt (6,621,897) (8,563,616)
Proceeds from long-term debt 1,101,469 1,588,826
Repayments of long-term debt (970,702) (1,039,595)
Dividends paid (129,765) (142,381)
Dividends paid to noncontrolling interests (6,250) (9,677)
Sales (purchases) of treasury stock, net (7) (25)
Other, net (28,917) (22,265)
Net cash provided by (used in) financing activities 119,567 370,555
Effect of exchange rate changes on cash and
cash equivalents 108,460 71,784
Net change in cash and cash equivalents (40,985) (37,214)
Cash and cash equivalents at beginning of year 1,247,113 1,206,128
Cash and cash equivalents at end of year ¥ 1,206,128 ¥ 1,168,914
Honda Motor Co., Ltd. Annual Report 2014 50
6 Financial Section
1 The Power of Dreams
2 Financial Highlights
3 To Our Shareholders
4 Review of Operations
5 Corporate Governance
7
Investor Relations
Information
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