Canon 2004 Annual Report Download - page 57

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55
Thousands of
Millions of yen U.S. dollars (note 2)
2004 2003 2002 2004
Cash flows from operating activities:
Net income ¥343,344 275,730 190,737 $3,301,385
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 192,692 183,604 165,260 1,852,808
Loss on disposal of property, plant and equipment 24,597 12,639 13,137 236,510
Deferred income taxes 9,060 (3,035) (1,788) 87,115
Increase in trade receivables (53,595) (36,638) (47,077) (515,337)
(Increase) decrease in inventories (40,050) (15,823) 14,029 (385,096)
Increase in trade payables 65,873 1,129 64,040 633,394
Increase in income taxes 21,689 3,441 14,935 208,548
Increase in accrued expenses 8,196 37,131 12,901 78,808
Increase (decrease) in accrued pension and
severance cost (16,924) 29,445 20,993 (162,731)
Other, net 6,647 (21,974) 1,783 63,913
Net cash provided by operating activities 561,529 465,649 448,950 5,399,317
Cash flows from investing activities:
Purchases of property, plant and equipment (256,714) (199,720) (205,139) (2,468,404)
Proceeds from sale of property, plant and equipment 7,431 9,354 11,971 71,452
Purchases of available-for-sale securities (388) (249) (2,751) (3,731)
Purchases of held-to-maturity securities (21,544) —— (207,154)
Proceeds from sale of available-for-sale securities 9,735 6,544 1,099 93,606
Proceeds from sale of subsidiary common stock 9,731 —— 93,567
Purchases of other investments (8,628) (24,341) (30,331) (82,962)
Other, net 7,410 8,464 (5,069) 71,251
Net cash used in investing activities (252,967) (199,948) (230,220) (2,432,375)
Cash flows from financing activities:
Proceeds from issuance of long-term debt 2,115 4,132 10,609 20,337
Repayments of long-term debt (43,175) (25,301) (60,690) (415,144)
Decrease in short-term loans (3,046) (49,224) (101,125) (29,288)
Dividends paid (52,950) (28,538) (23,663) (509,135)
Purchases of treasury stock, net (494) (1,071) (5,884) (4,750)
Other, net (4,718) (2,037) (2,961) (45,366)
Net cash used in financing activities (102,268) (102,039) (183,714) (983,346)
Effect of exchange rate changes on cash and
cash equivalents (8,818) 5,365 (19,979) (84,789)
Net increase in cash and cash equivalents 197,476 169,027 15,037 1,898,807
Cash and cash equivalents at beginning of year 690,298 521,271 506,234 6,637,481
Cash and cash equivalents at end of year ¥887,774 690,298 521,271 $8,536,288
Supplemental disclosure for cash flow information
(note 21):
Cash paid during the year for:
Interest ¥2,981 4,570 6,890 $28,663
Income taxes 164,450 162,247 121,556 1,581,250
See accompanying notes to consolidated financial statements.
CANON INC. AND SUBSIDIARIES Year ended December 31, 2004, 2003 and 2002
CONSOLIDATED STATEMENTS OF CASH FLOWS