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Millions of Yen
Thousands of U.S.
Dollars (Note 1)
2011 2012 2013 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Income (loss) before income taxes and minority interests . . . . . . . . . . . . . . ¥ (15,687) ¥ 3,301 ¥ 69,279 $ 737,011
Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90,614 83,058 83,612 889,489
Amortization of long-term prepaid expenses . . . . . . . . . . . . . . . . . . . . . . . . 8,521 7,711 6,748 71,787
Impairment losses on property, plant and equipment, and other assets . . . 5,873 6,501 21,949 233,500
Amortization of goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,983 12,660 15,428 164,128
Increase in allowance for doubtful accounts . . . . . . . . . . . . . . . . . . . . . . . . 6,577 2,589 591 6,287
Decrease in product warranty liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,327) (4,686) (1,183) (12,585)
Decrease in provision for loss on guarantees . . . . . . . . . . . . . . . . . . . . . . . (10,412) — — —
Increase (decrease) in provision for loss on construction contracts
and others . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4,320) 193 7,987 84,968
Increase in liabilities for retirement benefits . . . . . . . . . . . . . . . . . . . . . . . . . 6,942 6,855 (3,939) (41,904)
Increase (decrease) in provision for business structure improvement . . . . (2,826) 18,463 (22,644) (240,894)
Decrease in provision for contingent loss . . . . . . . . . . . . . . . . . . . . . . . . . . (4,946) (939) (3,575) (38,032)
Decrease in provision for loss on repurchase of computers . . . . . . . . . . . . (1,735) (1,151) (1,143) (12,160)
Interest and dividends income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5,445) (6,108) (5,247) (55,819)
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,614 5,446 5,979 63,606
Equity in losses (earnings) of affiliated companies . . . . . . . . . . . . . . . . . . . . 38,533 12,705 (409) (4,351)
Loss (gain) on change in equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,996 (18) (2,657) (28,266)
Gain on sales of property, plant and equipment . . . . . . . . . . . . . . . . . . . . . (1,266) (966) (1,569) (16,691)
Loss on retirement of property, plant and equipment . . . . . . . . . . . . . . . . . — — 636 6,766
Gain on sales of investment securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,492) (1,357) (9,057) (96,351)
Loss on sales of investment securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 11 2 21
Write-off of investment securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,319 16,037 804 8,553
Gain on sales of investments in affiliated companies . . . . . . . . . . . . . . . . . (2,299) (15,376) (1,728) (18,383)
Loss on sales of investments in affiliated companies . . . . . . . . . . . . . . . . . 1,002 1,118 880 9,362
Loss (gain) on contribution of securities to retirement benefit trust . . . . . . (19,206) — 5,898 62,745
Loss on disaster . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,972 2,131 — —
Gain on insurance claim . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (10,648) (1,625) (17,287)
Increase in trade notes and accounts receivable . . . . . . . . . . . . . . . . . . . . (478) (88,216) (9,600) (102,128)
(Increase) decrease in inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,349 (150) 5,496 58,468
(Increase) decrease in accounts receivable, other . . . . . . . . . . . . . . . . . . . . (5,344) 15,591 (2,792) (29,702)
Increase (decrease) in trade notes and accounts payable . . . . . . . . . . . . . (10,380) 28,976 (8,548) (90,936)
Others—net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (46,130) (7,690) 22,267 236,883
Sub total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62,010 86,041 171,840 1,828,085
Interest and dividends received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,513 6,111 4,481 47,670
Interest paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6,464) (5,152) (5,928) (63,064)
Income taxes paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (27,399) (22,650) (28,653) (304,819)
Proceeds from insurance income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 19,507 2,008 21,362
Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 33,660 ¥ 83,857 ¥ 143,748 $ 1,529,234
See notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF CASH FLOWS
NEC Corporation and Subsidiaries
Years Ended March 31, 2011, 2012 and 2013
57 NEC Corporation
Annual Report 2013