Alpine 2007 Annual Report Download - page 20

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See accompanying notes
18
Consolidated Statements of Cash Flows
2007 2006 2005 2007
Cash flows from operating activities:
Income before income taxes and minority interests ¥ 10,302 ¥ 10,152 ¥ 12,284 $87,268
Adjustments to reconcile income before income taxes
and minority interests to cash provided by operating activities:
Depreciation and amortization (Note 15) 9,326 8,616 7,332 79,000
Increase (Decrease) in employees' severance and
retirement benefits 8 (1,699) 456 68
Increase in directors' severance and retirement benefits 83 52 82 703
Interest and dividend income (735) (317) (296) (6,226)
Interest expense 126 134 181 1,067
Equity in earnings of affiliated companies (677) (460) (853) (5,735)
Loss on sales of fixed assets 11 113 53 93
Prior compensation expenses for products 935 — — 7,920
Decrease (Increase) in notes and accounts receivable 3,504 (2,788) 257 29,682
Decrease (Increase) in inventories 1,129 3,778 (2,037) 9,564
Decrease in notes and accounts payable (2,307) (3,357) (1,072) (19,543)
Decrease (Increase) in consumption taxes receivable 70 (149) 165 594
Increase in warranty reserve 903 901 550 7,649
Directors' severance and retirement benefits — — 16 —
Other—net (2,261) 3,460 (1,774) (19,152)
Total 20,417 18,436 15,344 172,952
Interest and dividend received 735 511 375 6,226
Interest paid (126) (135) (177) (1,067)
Income taxes paid (3,692) (5,925) (2,938) (31,275)
Payments for Prior compensation expense for products (935) — — (7,920)
Payments for directors' severance and retirement benefits — — (132) —
Net cash provided by operating activities 16,399 12,887 12,472 138,916
Cash flows from investing activities:
Payments for acquisition of property, plant and equipment (8,573) (8,488) (7,949) (72,622)
Proceeds from sale of property, plant and equipment 100 567 72 847
Payments for acquisition of intangible fixed assets (3,593) (2,418) (1,397) (30,436)
Proceeds from sale of investments in securities 0 111 1 0
Payments for investment — (131) (209) —
Gain on sale of investments in affiliated companies — 577 — —
Payments for loans (47) (172) (279) (398)
Collection of loans receivable 49 253 336 415
Other—net 177 (154) 182 1,499
Net cash used in investing activities (11,887) (9,855) (9,243) (100,695)
Cash flows from financing activities:
Decrease in short-term borrowings (113) (190) (329) (957)
Repayments of long-term debt (7) (13) (11) (59)
Cash dividends paid (1,395) (1,270) (1,217) (11,817)
Cash dividends paid to minority interests (82) (40) (57) (695)
Paid-in capital from minority interests 59 — — 500
Other—net (3) (24) (2) (26)
Net cash used in financing activities (1,541) (1,537) (1,616) (13,054)
Effect of exchange rate changes on cash and cash equivalents 1,139 1,057 318 9,649
Net increase (decrease) in cash and cash equivalents 4,110 2,552 1,931 34,816
Cash and cash equivalents at beginning of year 33,207 30,476 28,360 281,296
Increase in cash and cash equivalents due to inclusion of
additional subsidiaries in the consolidation 163 179 185 1,380
Increase in cash and cash equivalents acquired due to merger
of consolidated and nonconsolidated subsidiaries 27 229
Cash and cash equivalents at end of year ¥ 37,507 ¥ 33,207 ¥ 30,476 $317,721
Thousands of U.S.
Dollars (Note 1)Millions of Yen
Years ended March 31, 2007, 2006 and 2005
ALPINE ELECTRONICS, INC.