Canon 2005 Annual Report Download - page 61

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59
Thousands of
Millions of yen U.S. dollars (note 2)
2005 2004 2003 2005
Cash flows from operating activities:
Net income ¥ 384,096 343,344 275,730 $ 3,255,051
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 225,941 192,692 183,604 1,914,754
Loss on disposal of property, plant and equipment 13,784 24,597 12,639 116,814
Deferred income taxes (766) 9,060 (3,035) (6,492)
Increase in trade receivables (48,391) (53,595) (36,638) (410,093)
(Increase) decrease in inventories 27,558 (40,050) (15,823) 233,542
Increase in trade payables 16,018 65,873 1,129 135,746
Increase in income taxes 1,998 21,689 3,441 16,932
Increase in accrued expenses 31,241 8,196 37,131 264,754
Increase (decrease) in accrued pension and
severance cost (16,221) (16,924) 29,445 (137,466)
Other, net (29,580) 6,647 (21,974) (250,678)
Net cash provided by operating activities 605,678 561,529 465,649 5,132,864
Cash flows from investing activities:
Purchases of fixed assets (395,055) (256,714) (199,720) (3,347,924)
Proceeds from sale of fixed assets 14,827 7,431 9,354 125,653
Purchases of available-for-sale securities (5,680) (388) (249) (48,136)
Purchases of held-to-maturity securities —(21,544) — —
Proceeds from sale of available-for-sale securities 12,337 9,735 6,544 104,551
Acquisitions of subsidiaries, net of cash acquired (17,657) —— (149,636)
Proceeds from sale of subsidiary common stock —9,731 — —
Purchases of other investments (19,531) (8,628) (24,341) (165,517)
Other, net 9,618 7,410 8,464 81,509
Net cash used in investing activities (401,141) (252,967) (199,948) (3,399,500)
Cash flows from financing activities:
Proceeds from issuance of long-term debt 1,716 2,115 4,132 14,542
Repayments of long-term debt (15,187) (43,175) (25,301) (128,703)
Decrease in short-term loans (12,011) (3,046) (49,224) (101,788)
Dividends paid (64,310) (52,950) (28,538) (545,000)
Purchases of treasury stock, net (147) (494) (1,071) (1,246)
Other, net (4,000) (4,718) (2,037) (33,898)
Net cash used in financing activities (93,939) (102,268) (102,039) (796,093)
Effect of exchange rate changes on cash and
cash equivalents 6,581 (8,818) 5,365 55,771
Net increase in cash and cash equivalents 117,179 197,476 169,027 993,042
Cash and cash equivalents at beginning of year 887,774 690,298 521,271 7,523,509
Cash and cash equivalents at end of year ¥ 1,004,953 887,774 690,298 $ 8,516,551
Supplemental disclosure for cash flow information
(note 22):
Cash paid during the year for:
Interest ¥ 1,919 2,981 4,570 $ 16,263
Income taxes 211,540 164,450 162,247 1,792,712
See accompanying notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF CASH FLOWS
CANON INC. AND SUBSIDIARIES Year ended December 31, 2005, 2004 and 2003