Alpine 2010 Annual Report Download - page 20

See accompanying notes
20
2010 2009 2008 2010
Cash flows from operating activities:
Income (loss) before income taxes and minority interests ¥ 12 ¥ (4,035) ¥ 6,345 $ 129
Adjustments to reconcile income (loss) before income taxes
and minority interests to cash provided by operating activities:
Depreciation and amortization (Note12) 8,352 10,336 10,655 89,768
Increase (decrease) in provision for retirement benefits 38 (16) 45 408
Increase (decrease) in provision for directors' retirement benefits (90) 28 (14) (967)
Interest and dividends income (444) (752) (930) (4,772)
IInterest expenses 150 122 169 1,612
Equity in earnings of affiliates (1,358) (1,143) (1,047) (14,596)
Loss (gain) on sale of property, plant and equipment (45) 11 6 (484)
Gain on exchanges of land use rights (224) — — (2,408)
Decrease (increase) in notes and accounts receivable-trade (10,845) 10,241 5,779 (116,563)
Decrease (increase) in inventories 1,129 6,349 (1,020) 12,135
Increase (decrease) in notes and accounts payable-trade 10,973 (9,234) (1,624) 117,939
Increase (decrease) in provision for product warranties 502 (814) (501) 5,396
Gain on valuation of options — (2,578) — —
Gain on settlement and valuation of options (128) — — (1,376)
Other-net 1,983 2,133 (3,383) 21,313
Subtotal 10,005 10,648 14,480 107,534
Interest and dividends income received 443 783 927 4,761
Interest expenses paid (144) (119) (169) (1,547)
Income taxes paid (973) (1,669) (5,275) (10,458)
Income taxes refund 528 1,037 — 5,675
Net cash provided by operating activities 9,859 10,680 9,963 105,965
Cash flows from investing activities:
Purchase of property, plant and equipment (2,998) (7,139) (11,029) (32,223)
Proceeds from sales of property, plant and equipment 215 88 27 2,311
Purchase of intangible assets (1,222) (3,156) (2,945) (13,134)
Proceeds from sales of investments — 131 247 —
Purchase of investments in subsidiaries (44) (544) — (473)
Purchase of stocks of subsidiaries and affiliates — (245) — —
Payments of loans receivable (1,483) (1,858) (61) (15,939)
Collection of loans receivable 1,792 66 38 19,260
Other-net (223) (193) (378) (2,397)
Net cash used in investment activities (3,963) (12,850) (14,101) (42,595)
Cash flows from financing activities:
Net increase (decrease) in short-term loans payable (1,594) 1,576 34 (17,132)
Proceeds from long-term loans payable 10,002 — — 107,502
Cash dividends paid (2) (1,744) (1,744) (21)
Cash dividends paid to minority shareholders (163) (16) (189) (1,752)
Liquidating dividends paid to minority shareholders — — (452) —
Proceeds from stock issuance to minority shareholders 43 — 63 462
Other—net (136) (145) (2) (1,462)
Net cash provided by (used in) financing activities 8,150 (329) (2,290) 87,597
Effect of exchange rate change on cash and cash equivalents (343) (1,519) (1,017) (3,686)
Net increase (decrease) in cash and cash equivalents 13,703 (4,018) (7,445) 147,281
Cash and cash equivalents at beginning of period 26,141 30,159 37,507 280,965
Increase in cash and cash equivalents resulting from inclusion of
additional subsidiaries in the consolidation — — — —
Increase in cash and cash equivalents resulting from merger
of consolidated and unconsolidated subsidiaries — — 97 —
Cash and cash equivalents at end of period ¥ 39,844 ¥ 26,141 ¥ 30,159 $ 428,246
Thousands of U.S.
Dollars (Note 1)Millions of Yen
Years ended March 31, 2010, 2009 and 2008
ALPINE ELECTRONICS, INC.
Consolidated Statements of Cash Flows