Toshiba 2009 Annual Report Download - page 38

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36
Consolidated Financial Summary
Net Sales, Operating Income (Loss) and Net Income (Loss)
Net sales ¥5,300.9 ¥5,749.4 ¥5,951.4 ¥5,394.0
Cost of sales 3,890.6 4,254.4 4,323.5 4,070.1
Selling, general and administrative expenses 1,379.8 1,394.0 1,395.7 1,437.5
Operating income (loss) 30.5 101.0 232.1 (113.6)
Income (loss) from continuing operations,
before income taxes and minority interest 13.2 (39.2) 197.5 (374.2)
Income taxes 20.9 (4.5) 96.1 (113.9)
Net income (loss) (9.1) (32.9) 96.2 (254.0)
EBITDA*1378.3 352.9 578.4 (18.1)
Profitability Ratios
Operating income ratio (%) 0.6 1.8 3.9 (2.1)
Return on sales (%) (0.2) (0.6) 1.6 (4.7)
Cost of sales ratio (%) 73.4 74.0 72.6 75.5
Selling, general and administrative expenses ratio (%) 26.0 24.2 23.5 26.6
Total Assets, Total Shareholders’ Equity and Interest-bearing Debt
Total assets 6,101.9 5,780.0 5,724.6 5,407.8
Total shareholders’ equity 1,128.8 1,060.1 1,047.9 705.3
Interest-bearing debt 2,181.7 1,967.3 1,787.6 1,818.5
Long-term debt 1,178.4 1,121.9 990.3 888.7
Short-term debt 1,003.3 845.4 797.3 929.8
Shareholders’ equity ratio (%)*218.5 18.3 18.3 13.0
Debt/equity ratio (Times)*31.9 1.9 1.7 2.6
R&D, Capital Expenditures, Depreciation
R&D expenditures 316.7 334.4 327.9 326.2
Capital expenditures (Property, plant and equipment) 375.5 298.5 269.5 348.2
Depreciation (Property, plant and equipment) 309.8 329.6 308.3 311.2
Return Indicators
Return on equity (ROE) (%)*4(0.7) (3.0) 9.1 (29.0)
Return on total assets (ROA) (%)*5(0.1) (0.6) 1.7 (4.6)
Efficiency Indicators
Inventory turnover (Times)*65.30 6.27 7.18 7.13
Total assets turnover (Times)*70.86 0.97 1.03 0.97
Inventory turnover (Days)*866.85 58.25 50.81 51.19
Cash Flows
Net cash provided by (used in) operating activities 264.9 435.9 453.6 149.2
Net cash used in investing activities (280.1) (293.2) (176.7) (325.6)
Net cash provided by (used in) financing activities (94.3) (158.7) (285.6) 53.5
Effect of exchange rate changes on cash and cash equivalents
(8.7) (16.6) 31.1 5.8
Net increase (decrease) in cash and cash equivalents (118.2) (32.5) 22.4 (117.2)
Cash and cash equivalents at end of year 497.8 465.2 487.6 370.4
Liquidity Indicators
Debt/cash flow ratio (%)*913.68 15.23 23.22 4.01
Interest coverage ratio (Times)*10 1.0 2.8 6.1 (3.3)
Corporate Value
Free cash flow*11 (15.1) 142.8 276.9 (176.4)
Market capitalization*12 2,604.2 3,367.1 2,356.3 1,815.5
Other Data
Number of employees (Consolidated) (Thousands) 198 191 188 176
Number of employees (Non-Consolidated) (Thousands) 63 58 53 46
Ratios of Consolidated to Non-Consolidated Performance (Times) (Net sales)
1.6 1.6 1.6 1.7
• ¥48.9 billion, ¥4.8 billion and ¥4.1 billion of “Subsidy received on return of substitutional
portion of Employees’ Pension Fund Plan, net of settlement loss of ¥188.1 billion in 2004, ¥8.0
billion in 2005, ¥5.0 billion in 2006” are classified as a reduction of selling, general and
administrative expenses for the years ended March 31, 2004, 2005 and 2006, respectively.
• Operating income (loss) has been determined under financial reporting practices generally
accepted in Japan and is defined as net sales less cost of sales and selling, general and
administrative expenses.
• Beginning with the fiscal year ended March 31, 2001, Toshiba has adopted Statement of
Financial Accounting Standards (SFAS) No. 115, “Accounting for Certain Investments in Debt
and Equity Securities.” Prior-period data for the fiscal years ended March 31, 1999 and 2000,
has been restated to conform with SFAS No. 115.
• Beginning with the fiscal year ended March 31, 2006, equity in earnings (losses) of affiliates
has been included in income (loss) from continuing operations, before income taxes and
minority interest. Prior-period data for the fiscal years ended March 31, 1999 through 2005
has been reclassified to conform with the current classification.
• Beginning with the fiscal year ended March 31, 2009, operating results of The Mobile
Broadcasting business are accounted for in accordance with SFAS No.144 “Accounting for
the Impairment or Disposal of Long-Lived Assets” where the business is reclassified as a
discontinued operation in the consolidated financial statements. Prior-period data for the
fiscal years up to March 31, 2008 has been reclassified to conform with the current
classification.
Year ended March 31 1999 2000 2001 2002