Omron 2002 Annual Report Download - page 33

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Consolidated Statements of Cash Flows
Omron Corporation and Subsidiaries
Years ended March 31, 2002, 2001 and 2000
Thousands of
Millions of yen U.S. dollars (Note 2)
2002 2001 2000 2002
Operating Activities:
Net income (loss) .................................................................................... ¥(15,773) ¥ 22,297 ¥ 11,561 $(118,594)
Adjustments to reconcile net income (loss) to net
cash provided by operating activities:
Depreciation and amortization ............................................................ 33,569 32,217 31,445 252,398
Net loss on sales and disposals of property, plant and equipment.... 1,314 760 412 9,880
Loss on impairment of property, plant and equipment....................... 6,815 —— 51,241
Net gain on sales of short-term investments
and investment securities ................................................................. (1,008) (3,703) (2,783) (7,579)
Loss on impairment of investment securities and other assets.......... 17,199 2,460 2,072 129,316
Bad debt expenses ............................................................................. 520 3,810 5,638 3,910
Termination and retirement benefits ................................................... 2,616 4,990 5,778 19,669
Deferred income taxes........................................................................ (16,131) (5,402) (5,809) (121,286)
Minority interests................................................................................. 132 422 427 993
Cumulative effect of accounting change ............................................ (384) —— (2,887)
Changes in assets and liabilities:
Notes and accounts receivable — trade, net.................................. 19,402 (5,593) 2,507 145,880
Inventories ....................................................................................... 17,403 (13,320) (534) 130,850
Other assets .................................................................................... 2,279 875 (3,030) 17,135
Notes and accounts payable — trade ............................................ (22,291) 3,620 10,062 (167,602)
Income taxes payable ..................................................................... (10,992) 3,438 2,633 (82,647)
Accrued expenses and other .......................................................... (1,082) 4,140 (585) (8,135)
Other, net ............................................................................................ 99 (215) 132 744
Total adjustments ............................................................................ 49,460 28,499 48,365 371,880
Net cash provided by operating activities ................................... 33,687 50,796 59,926 253,286
Investing Activities:
Proceeds from sales or maturities of short-term investments
and investment securities..................................................................... 3,111 9,746 32,289 23,391
Purchase of short-term investments and investment securities ............ (6,181) (5,761) (37,413) (46,474)
Capital expenditures............................................................................... (38,896) (37,583) (31,146) (292,451)
Decrease (increase) in leasehold deposits ............................................. 506 (538) 1,456 3,805
Proceeds from sales of property, plant and equipment ......................... 1,450 1,953 1,081 10,902
Acquisition of minority interests ............................................................. (111) (182) (447) (835)
Net cash used in investing activities............................................ (40,121) (32,365) (34,180) (301,662)
Financing Activities:
Net borrowings (repayments) of short-term bank loans......................... 5,786 (1,371) (18,087) 43,504
Proceeds from issuance of long-term debt............................................ 13,102 715 775 98,511
Repayments of long-term debt............................................................... (26,970) (1,650) (3,102) (202,782)
Dividends paid ........................................................................................ (3,267) (3,337) (3,371) (24,564)
Share buyback........................................................................................ —(18,338) — —
Treasury stock ........................................................................................ (725) (749) — (5,451)
Exercise of stock options ....................................................................... 18 148 — 135
Net cash used in financing activities ........................................... (12,056) (24,582) (23,785) (90,647)
Effect of Exchange Rate Changes on Cash and Cash Equivalents..... 3,648 3,102 (2,191) 27,429
Net Decrease in Cash and Cash Equivalents ........................................ (14,842) (3,049) (230) (111,594)
Cash and Cash Equivalents at Beginning of the Year .......................... 85,621 88,670 88,900 643,767
Cash and Cash Equivalents at End of the Year..................................... ¥ 70,779 ¥ 85,621 ¥ 88,670 $ 532,173
See notes to consolidated financial statements.
Omron Corporation 31