Crucial 2012 Annual Report Download - page 245

See accompanying notes to financial statements.
INOTERA MEMORIES, INC.
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31 2009, 2010 and 2011
(Expressed in thousands of New Taiwan Dollars
For the years ended December 31,
2009 2010 2011
Cash flows from operating activities:
Net loss $ (11,476,927) (10,661,312) (21,003,168)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation 29,603,228 31,137,115 31,896,756
Amortization of deferred charges 244,132 776,469 782,041
Compensation costs arising from share-based payments 83,097 499,585 145,587
(Gain from price recovery) loss on obsolescence of inventories (1,767,684) 797,068 557,238
Gain on disposal of fixed and idle assets (8,526) (30,771) (90,726)
Loss on impairment of fixed assets and idle assets 1,098 236,763 —
Unrealized foreign currency exchange (gain) loss, net (292,456) (510,742) 215,365
Interest income from capital lease (19,175) (18,841) (18,487)
Interest expense from capital lease 291,824 294,788 280,007
Gain on terminated capital lease agreement (7,833) — —
Change in operating assets and liabilities: —
Increase (decrease) in financial liabilities reported at fair value through profit or loss, net 311,838 (344,340) (196,248)
(Increase) decrease in accounts receivable - related parties (6,870,447) 3,538,254 (1,714,603)
Decrease (Increase) in other receivables 144,773 (713,608) 485,237
Decrease in other receivables - related parties 9,373 3,310 14,106
Decrease (increase) in inventories 1,249,526 (1,846,692) 805,436
Decrease (increase) in prepayments 669,188 (1,256,031) (363,510)
Increase (decrease) in notes and accounts payable 170,720 570,300 (348,690)
Increase (decrease) in accounts payable - related parties 68,101 (3,786) 109,238
Increase (decrease) in accrued expenses 174,586 333,325 (302,993)
Increase (decrease) in other payables - related parties 13,473 (25,244) 105,243
(Decrease) increase in unearned receipts and other current liabilities (5,015) (4,167) 50,011
Decrease in deferred income tax assets, net (17,305) — —
Decrease in accrued pension liabilities (6,027) (8,380) (8,651)
Net cash provided by operating activities 12,563,562 22,763,063 11,399,189
Cash flows from investing activities:
Purchases of property, plant and equipment (7,817,644) (49,180,961) (20,978,052)
Proceeds from disposal of fixed and idle assets — 267,047 906,819
Decrease (increase) in refundable deposits 1,957 (78,434) 66,323
Decrease in lending to related parties 2,834,920 — —
Increase in deferred charges and intangible assets (1,629,700) — (11,000)
Decrease in lease receivables 24,698 24,698 24,698
Net cash used in investing activities (6,585,769) (48,967,650) (19,991,212)
Cash flows from financing activities:
Increase (decrease) in short-term loans 1,945,300 (5,930,000) 1,874,600
Proceeds from long-term loans 1,670,000 31,395,000 3,500,000
Repayment of long-term loans (15,800,729) (13,222,688) (12,995,620)
Repayment of bonds payable (1,980,000) (1,980,000) (2,040,000)
(Decrease) increase in guarantee deposits (4,559) 1,273 (916)
(Decrease) increase in lending from related parties (1,917,000) 1,618,300 19,028,570
Decrease in lease payables — (429,329) (429,330)
Capital collected in advance — 3,940 —
Proceeds from capital increase in cash 10,104,546 14,598,870 34,020
Net cash (used in) provided by financing activities (5,982,442) 26,055,366 8,971,324
Effect of foreign currency exchange translation (28,892) (118,337) (24,328)
(Decrease) increase in cash and cash equivalents (33,541) (267,558) 354,973
Cash and cash equivalents at beginning of year 5,409,766 5,376,225 5,108,667
Cash and cash equivalents at end of year $ 5,376,225 5,108,667 5,463,640
Supplemental cash flow information:
Interest paid $ 1,317,695 1,405,454 1,779,627
Less : capitalized interest 12,426 107,009 82,993
Interest paid excluding capitalized interest $ 1,305,269 1,298,445 1,696,634
Income tax paid $ 18,596 1,329 2,183
Non-cash investing and financing activities:
Current portion of long-term loans $ 13,250,880 13,031,208 16,495,166
Current portion of lease payables $ 134,541 149,323 165,728
Current portion of lease receivable $ 5,857 6,211 6,586
Current portion of bonds payable $ 1,978,854 2,039,083 13,998,754
Adjustment to write-off the leased assets from the termination of capital lease agreement $ 115,885 — —
Adjustment to write-off the lease payables from the termination of capital lease agreement (123,718) — —
Gain on terminated capital lease agreement $ (7,833) ——
Increase in lease assets arising from new capital lease agreement $ (2,656,223) — —
Increase in lease payable arising from new capital lease agreement 2,948,047 — —
Adjustment to recognize interest expense arising from new capital lease $ 291,824 — —
Investing activities affecting both cash and non-cash items:
Acquisition of property, plant and equipment $ 10,593,282 55,188,822 11,639,010
Decrease (increase) in payables to equipment suppliers (2,775,638) (6,007,861) 9,339,042
Cash paid for acquisition of property, plant and equipment $ 7,817,644 49,180,961 20,978,052