Oki 2001 Annual Report Download - page 22

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Oki Electric Industry Co., Ltd. Annual Report 2001
20
Thousands of
Millions of yen U.S. dollars (Note 2)
.................................................................................................................................... 2001 2000 1999 2001
Cash flows from operating activities:
Net income (loss) ................................................................................................. ¥008,944 ¥001,146 ¥(47,421) $072,129
Adjustments to reconcile net income (loss) to net cash provided
by (used in) operating activities:
Depreciation and amortization ............................................................................. 49,251 47,854 45,065 397,185
Provision for retirement benefits, net of payment ............................................... 7,915 (772) 1,882 63,830
(Gain) loss on sale and disposition of marketable securities,
investments in subsidiaries and other investments in securities ....................... (4,687) (8,975) 11,505 (37,799)
Loss on sale and disposition of property, plant and equipment .......................... 597 425 1,020 4,819
Deferred income taxes ......................................................................................... 6,773 2,626 (23,885) 54,623
Other ..................................................................................................................... 1,474 2,472 (1,350) 11,890
Changes in operating assets and liabilities:
Notes and accounts receivable ......................................................................... (20,280) 2,436 (21,347) (163,553)
Inventories ........................................................................................................ (8,889) 8,263 40,175 (71,685)
Other current assets .......................................................................................... ——(4,080) —
Notes and accounts payable ............................................................................. 14,621 11 (10,887) 117,916
Accrued income taxes ...................................................................................... 2,140 (215) (2,668) 17,262
Other accrued expenses .................................................................................... (93) (4,164) (2,103) (755)
Other current liabilities .................................................................................... ——4,535 —
Other assets and liabilities................................................................................ 4,638 4,810 —37,406
Net cash provided by (used in) operating activities ................................ 62,405 55,919 (9,561) 503,270
Cash flows from investing activities:
Decrease (increase) in time deposits and marketable securities ......................... 20,518 (9,535) 4,326 165,474
Decrease (increase) in investments and other long-term receivables ................. 5,117 (7,850) 9,701 41,269
Purchases of property, plant and equipment ........................................................ (40,865) (28,119) (41,510) (329,559)
Proceeds from sale of property, plant and equipment ......................................... 1,291 2,042 8,087 10,412
Increase in other assets ......................................................................................... ——(1,089) —
Net cash used in investing activities ......................................................... (13,938) (43,463) (20,485) (112,403)
Cash flows from financing activities:
Decrease in short-term borrowings ...................................................................... (8,110) (23,451) (5,051) (65,410)
Issuance of long-term debt ................................................................................... 6,348 11,749 69,239 51,193
Reduction of long-term debt ................................................................................ (61,754) (42,755) (26,323) (498,023)
Cash dividends paid and bonuses to directors and statutory auditors ................... (39) (51) (2,236) (322)
Net cash (used in) provided by financing activities ................................ (63,557) (54,508) 35,626 (512,563)
Effect of exchange rate changes on cash ................................................................. 497 (1,440) (906) 4,011
(Decrease) increase in cash and cash equivalents ................................................... (14,592) (43,492) 4,672 (117,685)
Cash and cash equivalents at beginning of the year ............................................... 66,776 108,501 86,750 538,520
Cash of newly consolidated subsidiaries at beginning of the year ......................... 702 1,767 —5,662
Cash and cash equivalents at end of the year.......................................... ¥052,885 ¥066,776 ¥(91,423 $(426,498
Supplemental disclosures of cash flow information
Cash paid during the year for:
Interest .................................................................................................................. ¥010,697 ¥012,360 ¥(13,759 $(086,271
Income taxes ......................................................................................................... 1,315 2,645 6,215 10,606
The accompanying notes are an integral part of these statements.
CONSOLIDATED STATEM ENTS OF CASH FLOWS
Oki Electric Industry Co., Ltd., and consolidated subsidiaries
Years ended March 31, 2001, 2000 and 1999