Sharp 2009 Annual Report Download - page 48

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Sharp Corporation and Consolidated Subsidiaries for the Years Ended March 31, 2008 and 2009
Yen
(millions)
U.S. Dollars
(thousands)
2008 2009 2009
Cash Flows from Operating Activities:
Income (loss) before income taxes and minority interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 162,240 ¥(204,139) $(2,104,526)
Adjustments to reconcile income (loss) before income taxes and minority
interests to net cash provided by operating activities—
Depreciation and amortization of properties and intangibles . . . . . . . . . . . . . . . . . . . . . . . . . . . 265,640 305,115 3,145,515
Interest and dividends income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (8,086) (7,009) (72,258)
Interest expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,957 9,147 94,299
Foreign exchange losses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,067 2,217 22,856
Loss on sales and disposal of plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,039 10,576 109,031
Gain on sales of subsidiaries and affiliate’s stocks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – (18,521) (190,938)
Loss on valuation of investment securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 694 49,875 514,175
Loss on violation of the antitrust law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – 12,004 123,753
Decrease in notes and accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,931 102,119 1,052,773
Decrease (increase) in inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (24,557) 27,180 280,206
Decrease in payables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (28,200) (175,734) (1,811,691)
Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (15,803) (53,539) (551,948)
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 376,922 59,291 611,247
Interest and dividends received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,939 8,735 90,052
Interest paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (9,849) (9,179) (94,629)
Income taxes paid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (52,248) (33,412) (344,454)
Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 323,764 25,435 262,216
Cash Flows from Investing Activities:
Purchase of time deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (99,502) (74,089) (763,804)
Proceeds from redemption of time deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105,364 104,027 1,072,443
Proceeds from sales of short-term investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,514 2,500 25,773
Proceeds from sales of investment in subsidiaries and affiliates resulting in change
of scope of consolidation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – 28,278 291,526
Acquisitions of plant and equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (362,927) (237,801) (2,451,557)
Proceeds from sales of plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 871 893 9,206
Purchase of investments in securities and investments in nonconsolidated
subsidiaries and affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (54,994) (5,504) (56,742)
Proceeds from sales of investments in securities and investments in
nonconsolidated subsidiaries and affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,385 3,843 39,619
Loans made . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (510) (304,267) (3,136,773)
Proceeds from collection of loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 347 306,520 3,160,000
Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (10,510) (46,629) (480,711)
Net cash used in investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (394,962) (222,229) (2,291,020)
Cash Flows from Financing Activities:
Increase in short-term borrowings, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128,472 163,494 1,685,505
Proceeds from long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89,898 88,912 916,618
Repayments of long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (121,994) (35,031) (361,144)
Disposal of treasury stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,786 80 825
Purchase of treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (369) (176) (1,814)
Dividends paid. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (30,530) (30,804) (317,567)
Other, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,169) (246) (2,536)
Net cash provided by financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84,094 186,229 1,919,887
Effect of Exchange Rate Changes on Cash and Cash Equivalents. . . . . . . . . . . . . . . . . . . . . . . . (4,549) (12,001) (123,722)
Net (Decrease) Increase in Cash and Cash Equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,347 (22,566) (232,639)
Cash and Cash Equivalents at Beginning of Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 329,286 339,266 3,497,588
Cash and Cash Equivalents of Newly Consolidated Subsidiaries . . . . . . . . . . . . . . . . . . . . . . . . 1,439 550 5,670
Cash and Cash Equivalents Increased by Merger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 194 108 1,113
Cash and Cash Equivalents at End of Year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 339,266 ¥ 317,358 $ 3,271,732
The accompanying notes to the consolidated financial statements are an integral part of these statements.
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