Nikon 2002 Annual Report Download - page 22

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20
Consolidated Statements of Cash Flows
Thousands of
U.S. Dollars
Millions of Yen (Note 1)
2002 2001 2002
Operating activities:
Income before income taxes and minority interest ¥2,755 ¥29,827 $20,678
Adjustments for:
Income taxes-paid (29,711) (8,592) (222,968)
Depreciation and amortization 17,917 16,007 134,463
Provision for employees' retirement benefits 7,304 10,024 54,814
Loss on sales or disposal of property, plant and equipment 1,258 1,251 9,443
Gain on sales of property, plant and equipment (3,180) (4,575) (23,868)
Loss on sales of investment securities 3,358 1,668 25,201
Gain on sales of investment securities (1,800) (13,506)
Other-net 235 6,960 1,761
Change in assets and liabilities:
Decrease (increase) in notes and accounts receivable — trade 42,719 (12,633) 320,591
Increase in inventories (4,246) (41,944) (31,868)
Increase (decrease) in notes and accounts payable — trade (40,807) 22,534 (306,243)
Other-net (5,273) 14,397 (39,572)
Total adjustments (12,226) 5,097 (91,752)
Net cash provided by (used in) operating activities (9,471) 34,924 (71,074)
Investing activities:
Capital expenditures (28,423) (18,184) (213,302)
Proceeds from sales of property, plant and equipment 3,517 5,452 26,397
Purchases of investment securities (8,812) (5,090) (66,128)
Proceeds from sales of investment securities 8,489 2,203 63,709
Net decrease in loans receivable 653 3,250 4,897
Other-net (1,276) (3,325) (9,583)
Net cash used in investing activities (25,852) (15,694) (194,010)
Financing activities:
Net increase (decrease) in short-term borrowings 27,814 (2,943) 208,738
Proceeds from long-term debt 26,156 1,317 196,290
Repayments of long-term debt (25,740) (16,617) (193,170)
Dividends paid (2,951) (2,392) (22,145)
Other-net (166) 1(1,248)
Net cash provided by (used in) financing activities 25,113 (20,634) 188,465
Foreign currency translation adjustments on cash and cash equivalents 581 1,495 4,359
Net increase (decrease) in cash and cash equivalents (9,629) 91 (72,260)
Cash and cash equivalents of newly consolidated subsidiaries,
beginning of year 352 1,067 2,640
Cash and cash equivalents of deconsolidated subsidiaries, end of year (0) (1)
Cash and cash equivalents of merged previously non-consolidated subsidiary 159 1,193
Cash and cash equivalents, beginning of year 33,732 32,574 253,152
Cash and cash equivalents, end of year ¥24,614 ¥33,732 $184,724
Non-cash investing and financing activities
Assets increased by consolidation of subsidiaries previously unconsolidated ¥544 ¥16,258 $4,086
Liabilities increased by consolidation of subsidiaries previously unconsolidated 127 231 955
Assets acquired and liabilites assumed by merger between non-consolidated
subsidiary and consolidated subsidiary
Land and buildings acquired 259 1,943
Other assets acquired 87 654
Long-term debt assumed 70 525
Other liabilities assumed 41 308
See Notes to Consolidated Financial Statements.
Nikon Corporation and Consolidated Subsidiaries
Years ended March 31, 2002 and 2001