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[50] MITSUBISHI MOTORS CORPORATION Annual Report 2001
CONSOLIDATED STATEMENTS OF CASH FLOWS
Mitsubishi Motors Corporation and Consolidated Subsidiaries
Years ended March 31, 2001 and 2000
In thousands of
U.S. dollars
In millions of yen (Note 4)
2001 2000 2001
Operating activities
Net loss ¥(278,139) ¥(23,331) $(2,244,867)
Adjustments to reconcile net loss to net cash provided
by operating activities:
Depreciation and amortization 164,488 152,510 1,327,587
Allowance for doubtful receivables, net of reversal 8,089 3,254 65,287
Accrued retirement benefits, net of reversal 109,160 2,432 881,033
Gain on sales of marketable securities, net —(13,572) —
Gain on sales of investment in securities, net (7,750) —(62,550)
Loss on revaluation of marketable securities 5,706 —46,053
Loss (gain) on sales and disposal of property,
plant and equipment, net 3,629 (4,268) 29,290
Equity in income of affiliates (3,164) (9,132) (25,537)
Deferred income taxes (118,996) 7,144 (960,420)
Minority interests (20,527) (5,629) (165,674)
Changes in operating assets and liabilities:
Trade notes and accounts receivable 87,700 79,487 707,829
Inventories 7,131 29,294 57,554
Other assets (51,272) (19,645) (413,818)
Trade notes and accounts payable 87,050 (2,096) 702,583
Other liabilities 111,486 14,158 899,806
Other 22,696 4,536 183,180
Net cash provided by operating activities 127,289 215,140 1,027,353
Investing activities
Decrease in short-term investments 1,814 12,620 14,641
Purchase of property, plant and equipment (157,483) (217,830) (1,271,049)
Proceeds from sales of property, plant and equipment 94,936 126,858 766,231
Decrease (increase) in investments in securities 8,669 (455) 69,968
Loans made (624,193) (372,350) (5,037,877)
Collection of loans receivable 605,508 367,668 4,887,070
Changes in scope of consolidation (15,650) (338) (126,312)
Other (5,044) (3,116) (40,710)
Net cash used in investing activities (91,441) (86,943) (738,023)
Financing activities
Decrease in short-term borrowings (140,871) (244,154) (1,136,973)
Proceeds from issuance of long-term debt 181,629 400,674 1,465,932
Repayment or redemption of long-term debt (256,992) (347,714) (2,074,189)
Issuance of common stock 201,745 28,867 1,628,289
Other (78) (65) (630)
Net cash used in financing activities (14,567) (162,392) (117,571)
Effect of exchange rate changes on cash
and cash equivalents 4,395 (5,868) 35,472
Net changes in cash and cash equivalents 25,675 (40,063) 207,224
Cash and cash equivalents at beginning of year 89,590 123,294 723,083
Adjustments to beginning balance for inclusion of
subsidiaries in consolidation 597 6,359 4,818
Cash and cash equivalents at end of year ¥ 115,863 ¥89,590 $ 935,133
See accompanying notes to consolidated financial statements.