Ricoh 2005 Annual Report Download - page 30

29 ANNUAL REPORT 2005
Consolidated Statements of Cash Flows
Ricoh Company, Ltd. and Consolidated Subsidiaries Thousands of
For the Years Ended March 31, 2003, 2004 and 2005 Millions of Yen U.S. Dollars
2003 2004 2005 2005
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income ¥ 72,513 ¥ 91,766 ¥ 83,143 $777,037
Adjustments to reconcile net income to net cash provided by operating activities-
Depreciation and amortization 76,551 76,968 78,201 730,851
Equity in earnings of affiliates, net of dividends received ( 1,167) ( 1,001 ) (1,966) (18,374)
Deferred income taxes ( 9,289) 3,338 11,353 106,103
Losses on disposals and sales of property, plant and equipment 1,975 2,035 4,056 37,907
Cumulative effect of accounting change, net of tax – ( 7,373 ) – –
Changes in assets and liabilities, net of effects from acquisition-
( Increase) decrease in trade receivables 22,176 ( 11,367 ) (26,429) (247,000)
( Increase) decrease in inventories 14,983 ( 4,317 ) (12,885) (120,421)
Increase in finance receivables ( 33,109) (32,650 ) (30,294) (283,121)
Increase in trade payables 5,632 21,316 27,276 254,916
( Decrease) increase in accrued income taxes and accrued expenses and other 11,173 ( 5,913 ) (13,719) (128,215)
( Decrease) increase in accrued pension and severance costs 7,806 ( 609 ) 4,307 40,252
Other, net 16,498 22,718 9,737 91,000
Net cash provided by operating activities 185,742 154,911 132,780 1,240,935
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales of property, plant and equipment 245 190 721 6,738
Expenditures for property, plant and equipment (71,984 ) (75,432 ) (84,076) (785,757)
Payments for purchases of available-for-sale securities (52,219) (35,518 ) (79,431) (742,346)
Proceeds from sales of available-for-sale securities 24,513 45,464 118,120 1,103,925
( Increase) decrease in time deposits 944 9,915 ( 5 1 1 ) ( 4 ,7 7 6 )
Acquisitions of subsidiaries, net of cash acquired ( 1,438) – (43,214) (403,869)
Other, net 1,740 ( 8,002 ) (7,807) (72,962)
Net cash used in investing activities ( 98,199) (63,383 ) (96,198) (899,047)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term indebtedness 58,194 13,349 72,206 674,823
Repayment of long-term indebtedness ( 23,133) (31,509 ) (60,613) (566,477)
Decrease in short-term borrowings, net (73,393) (10,728 ) (38,052) (355,626)
Proceeds from issuance of long-term debt securities 11,000 1,000 18,000 168,224
Repayment of long-term debt securities ( 11,723) (23,910 ) (22,000) (205,607)
Dividend paid ( 10,176) (11,136 ) (14,793) (138,252)
Payment for purchase of treasury stock (17,281 ) ( 11,411 ) (10,624) (99,290)
Other, net ( 631) ( 490 ) ( 5 6 3 ) ( 5 ,2 6 2 )
Net cash used in financing activities ( 67,143) (74,835 ) (56,439) (527,467)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND
CASH EQUIVALENTS ( 1,329 ) ( 2,897 ) 1,200 11,215
NET INCREASE ( DECREASE) IN CASH AND CASH EQUIVALENTS 19,071 13,796 (18,657) (174,364)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 170,172 189,243 203,039 1,897,561
ADJUSTMENT FOR CHANGE IN FISCAL YEAR END OF
CONSOLIDATED SUBSIDIARIES – – 2,475 23,130
CASH AND CASH EQUIVALENTS AT END OF YEAR ¥189,243 ¥203,039 ¥186,857 $1,746,327
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
CASH PAID DURING THE YEAR FOR-
Interest ¥ 7,300 ¥ 6,479 ¥ 5 ,4 0 2 $ 5 0 ,4 8 6
Income taxes 52,154 66,914 40,803 381,336
The accompanying notes to consolidated financial statements are an integral part of these statements.