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66 CANON ANNUAL REPORT 2009
CONSOLIDATED STATEMENTS OF CASH FLOWS
CANON INC. AND SUBSIDIARIES Years ended December 31, 2009, 2008 and 2007
Millions of yen
Thousands of
U.S. dollars (Note 2)
2009 2008 2007 2009
(As adjusted) (Note 1)
Cash fl ows from operating activities:
Consolidated net income ¥ 135,233 ¥ 320,359 ¥ 504,130 $ 1,469,924
Adjustments to reconcile consolidated net income to
net cash provided by operating activities:
Depreciation and amortization 315,393 341,337 341,694 3,428,185
Loss on disposal of property, plant and equipment 8,215 11,811 9,985 89,294
Impairment loss of fi xed assets (Note 6) 15,466 13,503 15,908 168,109
Deferred income taxes 20,712 (32,497) (35,021) 225,130
Equity in (earnings) losses of affi liated companies 12,649 20,047 (5,634) 137,490
(Increase) decrease in trade receivables 48,244 83,521 (10,722) 524,391
(Increase) decrease in inventories 143,580 49,547 (26,643) 1,560,652
Increase (decrease) in trade payables (76,843) (36,719) 21,136 (835,250)
Increase (decrease) in accrued income taxes (21,023) (77,340) 14,988 (228,511)
Increase (decrease) in accrued expenses (9,827) (30,694) 43,035 (106,815)
Increase (decrease) in accrued (prepaid) pension and
severance cost 4,765 (12,128) (15,387) 51,793
Other, net 14,671 (34,063) (18,200) 159,467
Net cash provided by operating activities 611,235 616,684 839,269 6,643,859
Cash fl ows from investing activities:
Purchases of fi xed assets (Note 6) (327,983) (428,168) (474,285) (3,565,033)
Proceeds from sale of fi xed assets (Note 6) 8,893 7,453 9,635 96,663
Purchases of available-for-sale securities (3,253) (7,307) (2,281) (35,359)
Proceeds from sale and maturity of
available-for-sale securities 2,460 4,320 8,614 26,739
Proceeds from maturity of held-to-maturity securities — 10,000 10,000 —
(Increase) decrease in time deposits, net (11,345) 2,892 31,681 (123,315)
Acquisitions of subsidiaries, net of cash acquired (2,979) (5,999) (15,675) (32,380)
Purchases of other investments (37,981) (45,473) (2,432) (412,837)
Other, net 1,944 (10,198) 2,258 21,131
Net cash used in investing activities (370,244) (472,480) (432,485) (4,024,391)
Cash fl ows from fi nancing activities:
Proceeds from issuance of long-term debt 3,361 6,841 2,635 36,533
Repayments of long-term debt (6,282) (15,397) (13,046) (68,283)
Decrease in short-term loans, net (280) (2,643) (358) (3,043)
Dividends paid (135,793) (145,024) (131,612) (1,476,011)
Repurchases of treasury stock, net (42) (100,066) (450,311) (456)
Other, net (3,343) (21,276) (11,691) (36,338)
Net cash used in fi nancing activities (142,379) (277,565) (604,383) (1,547,598)
Effect of exchange rate changes on cash and
cash equivalents 17,226 (131,906) (13,564) 187,239
Net change in cash and cash equivalents 115,838 (265,267) (211,163) 1,259,109
Cash and cash equivalents at beginning of year 679,196 944,463 1,155,626 7,382,565
Cash and cash equivalents at end of year ¥ 795,034 ¥ 679,196 ¥ 944,463 $ 8,641,674
Supplemental disclosure for cash fl ow information:
Cash paid during the year for:
Interest ¥ 384 ¥ 901 ¥ 1,476 $ 4,174
Income taxes 82,906 263,392 273,888 901,152
See accompanying Notes to Consolidated Financial Statements.
Canon AR09_FS_0325_ipc .indd 66 10.3.26 2:47:06 PM