Casio 2005 Annual Report Download - page 26

24 CASIO COMPUTER CO., LTD.
Consolidated Statements of Cash Flows
Years ended March 31, 2005 and 2004 Casio Computer Co., Ltd. and Subsidiaries
Thousands of
Millions of Yen U.S. Dollars (Note 1)
2005 2004 2005
Cash flows from operating activities:
Income before income taxes and minority interests ......................................................... ¥33,093 ¥22,536 $ 309,280
Depreciation (including software).................................................................................... 22,927 19,465 214,271
Loss on impairment of fixed assets (Note 16)................................................................... 1,494 —13,963
Amortization of goodwill ................................................................................................ 119 116 1,112
Loss on disposal and sales of property, plant and equipment........................................... 727 1,661 6,794
Gain on devaluation and sales of investment securities.................................................... (127) (979) (1,187)
Gain on sales of investment securities in a consolidated subsidiary .................................. (293) —(2,739)
Gain on change in interests in a consolidated subsidiary.................................................. (1,918) —(17,925)
Increase in liabilities for the employees’ severance and retirement benefits...................... 782 859 7,309
Increase in retirement benefits for directors and corporate auditors................................. 593 216 5,542
Interest and dividends income......................................................................................... (1,047) (828) (9,785)
Interest expense.............................................................................................................. 1,494 2,390 13,963
Foreign exchange loss (gain) ........................................................................................... (1,370) 83 (12,804)
Equity in gains of affiliated companies ............................................................................ (96) (180) (897)
Changes in assets and liabilities:
Decrease (Increase) in notes and accounts receivable.................................................. 8,762 (9,148) 81,888
Decrease in inventories .............................................................................................. 3,777 7,528 35,299
Decrease (Increase) in other current assets ................................................................. 15,539 (10,103) 145,224
Increase (Decrease) in notes and accounts payable ..................................................... (15,104) 22,411 (141,159)
Increase (Decrease) in consumption tax payable ......................................................... 1,228 (1,513) 11,477
Increase in other current liabilities .............................................................................. 1,039 9,835 9,710
Increase (Decrease) in trade notes and export drafts discounted ................................. (692) 928 (6,467)
Payments of bonuses to directors and corporate auditors................................................ (190) (166) (1,776)
Other.............................................................................................................................. (248) 2,194 (2,317)
Total ......................................................................................................................... 70,489 67,305 658,776
Interest and dividends received........................................................................................ 1,019 734 9,523
Interest paid.................................................................................................................... (1,538) (2,365) (14,374)
Income taxes paid ........................................................................................................... (5,015) (3,897) (46,869)
Net cash provided by operating activities ............................................................. 64,955 61,777 607,056
Cash flows from investing activities:
Deposits in time deposits ................................................................................................ (91) (1,184) (850)
Withdrawals from time deposits...................................................................................... 827 550 7,729
Deposits in long-term time deposits ................................................................................ —(3,000) —
Proceeds from sales of marketable securities ................................................................... —6,005 —
Payments for acquisitions of tangible fixed assets............................................................ (20,065) (13,365) (187,523)
Proceeds from sales of tangible fixed assets..................................................................... 392 623 3,664
Payments for acquisitions of intangible fixed assets ......................................................... (9,187) (6,699) (85,860)
Proceeds from sales of intangible fixed assets.................................................................. 221 633 2,065
Payments for purchases of investment securities.............................................................. (2,804) (17,119) (26,206)
Proceeds from sales and redemption of investment securities.......................................... 1,731 17,264 16,178
Proceeds from sales of investment securities in consolidated subsidiaries......................... 437 —4,084
Payments for long-term loans receivable ......................................................................... (28) (18) (262)
Collections from long-term loans receivable .................................................................... 28 1,088 262
Net decrease in loans receivable...................................................................................... 17 138 159
Other.............................................................................................................................. (314) (610) (2,935)
Net cash used in investing activities....................................................................... (28,836) (15,694) (269,495)
Cash flows from financing activities:
Net decrease in short-term borrowings............................................................................ (275) (2,846) (2,570)
Proceeds from long-term debt......................................................................................... 1,500 —14,019
Payments for long-term debt........................................................................................... (1,792) (2,723) (16,748)
Proceeds from issuance of bonds .................................................................................... —20,260 —
Redemption of bonds ..................................................................................................... (11,000) (24,811) (102,804)
Proceeds from minority shareholders............................................................................... 3,343 —31,243
Payments for acquisitions of treasury stock...................................................................... (1,728) (4,131) (16,150)
Proceeds from sales of treasury stock .............................................................................. 477 —4,458
Payments for cash dividends ........................................................................................... (3,992) (3,375) (37,308)
Other.............................................................................................................................. (62) (67) (579)
Net cash used in financing activities ...................................................................... (13,529) (17,693) (126,439)
Effect of exchange rate changes on cash and cash equivalents..................................... 1,858 (1,685) 17,364
Net increase in cash and cash equivalents ....................................................................... 24,448 26,705 228,486
Cash and cash equivalents at beginning of year (Note 3) ............................................... 123,141 96,436 1,150,850
Cash and cash equivalents at end of year (Note 3) .......................................................... ¥147,589 ¥123,141 $1,379,336
See accompanying notes.