Mazda 2007 Annual Report Download - page 64
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Consolidated Statements of Cash Flows
Thousands of
Millions of yen U.S. dollars (Note 1)
2006 2005 2004 2006
For the years ended March 31, 2007 March 31, 2006 March 31, 2005 March 31, 2007
Cash flows from operating activities:
Income before income taxes ¥118,450 ¥117,468 ¥073,847 $1,003,814
Adjustments to reconcile income before income
taxes to net cash provided by operating activities:
Depreciation and amortization 47,045 45,805 40,036 398,686
Loss on impairment of fixed assets 3,356 36,650 —28,441
Allowance for doubtful receivables (981) (206) 1,462 (8,314)
Investment valuation allowance (21) (115) 371 (178)
Reserve for warranty expenses 13,281 4,734 1,539 112,551
Employees’ severance and retirement benefits (13,479) (71,087) (2,361) (114,229)
Interest and dividend income (2,877) (2,359) (2,416) (24,381)
Interest expense 16,254 11,662 13,786 137,746
Equity in net income of unconsolidated
subsidiaries and affiliated companies (6,151) (8,976) (9,963) (52,127)
Loss on sale/disposition of property,
plant and equipment, net 3,380 5,961 8,714 28,644
Loss (gain) on sale of investment securities, net 16 (1,407) 425 136
Insurance claim income —(996) (27,942) —
Decrease (increase) in trade notes
and accounts receivable (3,061) (17,577) 6,212 (25,941)
Decrease (increase) in inventories (14,741) 10,332 23,246 (124,924)
Increase (decrease) in trade notes
and accounts payable (16,654) 10,974 (275) (141,136)
Increase (decrease) in other current liabilities 22,313 (15,989) 14,079 189,093
Other 3,323 (243) 3,170 28,162
Subtotal 169,453 124,631 143,930 1,436,043
Interest and dividends received 5,445 2,838 2,710 46,144
Interest paid (16,358) (11,292) (13,912) (138,627)
Insurance proceeds received —15,554 13,383 —
Income taxes paid (42,182) (17,133) (12,376) (357,475)
Net cash provided by operating activities 116,358 114,598 133,735 986,085
Cash flows from investing activities:
Purchase of investment securities (5,876) (8,875) (5,611) (49,797)
Sale of investment securities 92 2,823 95 780
Purchase of investments in subsidiaries
affecting scope of consolidation —31 ——
Sale of investments in subsidiaries
affecting scope of consolidation ——(595) —
Additions to property, plant and equipment (77,131) (75,548) (93,481) (653,653)
Proceeds from sale of property,
plant and equipment 5,031 3,949 5,052 42,636
Decrease (increase) in short-term loans receivable (1,280) 228 874 (10,847)
Long-term loans receivable made (60) (110) (204) (508)
Collections of long-term loans receivable 317 162 3,490 2,686
Other (16,456) (3,647) (7,455) (139,458)
Net cash used in investing activities (95,363) (80,987) (97,835) (808,161)
Cash flows from financing activities:
Decrease in short-term debt (11,689) (8,845) (56,746) (99,059)
Proceeds from long-term debt 95,091 92,102 107,142 805,856
Repayment of long-term debt (62,133) (119,502) (145,583) (526,551)
Cash dividends paid (7,000) (3,930) (2,434) (59,322)
Cash dividends paid to the minority interests
of consolidated subsidiaries (4,452) (282) (299) (37,729)
Other (471) (2,995) 1,796 (3,992)
Net cash provided by (used in) financing activities 9,346 (43,452) (96,124) 79,203
Effect of exchange rate fluctuations
on cash and cash equivalents 3,506 3,860 2,632 29,712
Net decrease in cash and cash equivalents 33,847 (5,981) (57,592) 286,839
Cash and cash equivalents at beginning
of the year 208,658 214,639 272,231 1,768,288
Cash and cash equivalents at end of the year ¥242,505 ¥208,658 ¥214,639 $2,055,127
See accompanying notes.
Mazda Motor Corporation and Consolidated Subsidiaries
Years ended March 31, 2007, 2006 and 2005