Square Enix 2004 Annual Report Download - page 55

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SQUARE ENIX 2004 53
Millions of Yen Thousands of U.S. Dollars
2004 2003 (Unaudited) 2004
Cash flows from operating activities:
Net income ¥ 4,355 ¥ 2,296 $ 41,205
Adjustment to reconcile net income to net cash provided
by operating activities:
Deferred income taxes (673) (1,230) (6,368)
Depreciation and amortization 5,406 386 51,150
Amortization and write-off of capitalized software developments costs 12,723 —120,385
Write-down of investment securities 375 100 3,552
Losses on sale of property and equipment 124 —1,170
Losses on disposal of property and equipment 749 46 7,077
Minority interest in earnings of consolidated subsidiaries 61 27 577
Equity in loss of affiliated company 760 — 7,191
Changes in assets and liabilities, net of effects of acquisitions:
Accounts and notes receivable 4,849 (50) 45,879
Accrued pension costs 200 20 1,892
Inventories (437) 115 (4,135)
Software development costs (12,226) —(115,674)
Accounts and notes payable (507) 681 (4,797)
Other assets 555 (460) 5,251
Other liabilities (916) 1,217 (8,667)
Other (1,261) 44 (11,929)
Net cash provided by operating activities 14,137 3,192 133,759
Cash flows from investing activities:
Purchases of property and equipment (2,709) (215) (25,632)
Purchases of intangible assets (416) (79) (3,936)
Purchases of investment securities —(2,002) —
Proceeds from sale of investment securities —120 —
Purchases of investment in affiliated company —(795) —
Proceeds from sale of investment in affiliated company 423 4 4,002
Refund of lease deposits 407 3 3,851
Payment of lease deposits (1,843) (771) (17,438)
Cash acquired in business acquisitions (net of cash used) 12,095 — 114,438
Other 292 (2) 2,764
Net cash provided by (used in) investing activities 8,249 (3,737) 78,049
Cash flows from financing activities:
Repayment of short—term borrowings (1,000) (361) (9,462)
Purchases of treasury stock (147) (47) (1,391)
Dividends paid (2,574) (1,468) (24,354)
Other 1,147 — 10,853
Net cash used in financing activities (2,574) (1,876) (24,354)
Effect of exchange rate changes on cash and cash equivalents (984) (11) (9,310)
Net increase (decrease) in cash and cash equivalents 18,828 (2,432) 178,144
Cash and cash equivalents at beginning of year ¥39,847 ¥42,279 $377,017
Cash and cash equivalents at end of year ¥58,675 ¥39,847 $555,161
Supplemental data :
Cash paid during the year for-
Income taxes ¥ 4,794 ¥ 2,446 $ 45,359
Interest ¥ 11 ¥ 2 $ 104
The accompanying notes are an integral part of these statements.
Consolidated Statements of Cash Flows (U.S. GAAP)
SQUARE ENIX CO., LTD. and Consolidated Subsidiaries
For the years ended March 31