Toshiba 2012 Annual Report Download - page 60

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• ¥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, 2006, equity in earnings (losses) of affiliates
has been included in income (loss) from continuing operations, before income taxes and
noncontrolling interests. Prior-period data for the fiscal years ended March 31, 2000
through 2005 has been reclassified to conform with the current classification.
• Equity attributable to shareholders of Toshiba Corporation is based on U.S. GAAP.
• The Mobile Broadcasting business ceased operation at the end of the fiscal year ended
March 31,2009. Prior-period data for the fiscal years up to March 31, 2008 has been
reclassified to conform with the current classification.
• Beginning with the fiscal year ended March 31,2010, Toshiba Corporation adopted ASC No.
810 “Consolidation.” Prior-period data for the fiscal years up to March 31, 2009 has been
reclassified to conform with the current classification.
• The mobile phone business has been discontinued operations since the second quarter
of FY2010. Prior-period data for the fiscal years up to March 31, 2010 has been
reclassified.
Year ended March 31 2002 2003 2004 2005
Net Sales, Operating Income (Loss) and Net Income (Loss) Attributable to Shareholders of Toshiba Corporation
Net sales
¥5,191.7 ¥5,441.5 ¥5,389.7 ¥5,647.2
Cost of sales
3,913.9 3,970.2 3,913.7 4,149.3
Selling, general and administrative expenses
1,393.8 1,354.6 1,293.9 1,346.1
Operating income (loss)
(116.0) 116.7 182.1 151.8
Income (loss) from continuing operations, before income taxes and noncontrolling interests
(370.9) 59.6 147.6 112.0
Income taxes
(113.0) 49.0 105.6 54.8
Net income (loss) attributable to shareholders of Toshiba Corporation
(254.0) 18.5 28.8 46.0
EBITDA
*1(17.3) 341.5 414.1 372.5
Profitability Ratios
Operating income ratio (%)
(2.2) 2.1 3.4 2.7
Return on sales (%)
(4.9) 0.3 0.5 0.8
Cost of sales ratio (%)
75.4 73.0 72.6 73.5
Selling, general and administrative expenses ratio (%)
26.8 24.9 24.0 23.8
Total Assets, Equity Attributable to Shareholders of Toshiba Corporation and Interest-bearing Debt
Total assets
5,407.8 5,238.9 4,462.2 4,571.4
Equity attributable to shareholders of Toshiba Corporation
705.3 571.1 755.0 815.5
Interest-bearing debt
1,818.5 1,653.4 1,199.5 1,111.4
Long-term debt
888.7 882.0 701.9 683.4
Short-term debt
929.8 771.4 497.6 428.0
Shareholders’ equity ratio (%)
*213.0 10.9 16.9 17.8
Debt/equity ratio (Times)
*32.6 2.9 1.6 1.4
R&D, Capital Expenditures and Depreciation
R&D expenditures
304.1 306.3 315.6 323.0
Capital expenditures (Property, plant and equipment)
344.7 227.8 224.7 316.8
Depreciation (Property, plant and equipment)
308.9 235.3 221.3 213.7
Return Indicators
Return on investment (ROI) (%)
*4(4.1) 4.6 8.1 7.3
Return on equity (ROE) (%)
*5(29.0) 2.9 4.3 5.9
Return on total assets (ROA) (%)
*6(4.6) 0.3 0.6 1.0
Efficiency Indicators
Inventory turnover (Times)
*76.86 8.23 8.56 8.83
Total assets turnover (Times)
*80.93 1.02 1.11 1.25
Inventory turnover (Days)
*953.18 44.37 42.62 41.33
Cash Flows
Net cash provided by (used in) operating activities
149.2 271.6 322.7 305.5
Net cash used in investing activities
(325.6) (148.0) (189.5) (243.1)
Net cash provided by (used in) financing activities
53.5 (159.8) (132.7) (92.3)
Effect of exchange rate changes on cash and cash equivalents
5.8 (7.2) (8.3) 5.6
Net increase (decrease) in cash and cash equivalents
(117.2) (43.3) (7.8) (24.2)
Cash and cash equivalents at end of year
370.4 327.1 319.3 295.0
Liquidity Indicators
Debt/cash flow ratio (%)
*10 4.01 16.09 19.47 24.87
Interest coverage ratio (Times)
*11 (3.4) 5.4 9.3 7.5
Corporate Value
Free cash flow
*12 (176.4) 123.6 133.2 62.4
Market capitalization
*13 1,815.5 1,007.6 1,519.4 1,442.1
Other Data
Number of employees (Consolidated) (Thousands)
176 166 161 165
Number of employees (Non-Consolidated) (Thousands)
46 40 32 31
Ratios of Consolidated to Non-Consolidated Performance (Times) (Net sales)
1.6 1.6 1.8 2.0
Consolidated Financial Summary
Data Section
58 TOSHIBA Annual Report 2012