Epson 2014 Annual Report Download - page 54

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Consolidated Statements of Cash Flows
For the years ended March 31, 2013 and 2014
The accompanying notes are an integral part of these financial statements.
Thousands of U.S.
dollars
March 31,
2013
March 31,
2014
March 31,
2014
Cash flows from operating activities
Income (loss) before income taxes and minority interests (¥3,479) ¥71,916 $698,756
Depreciation 39,320 38,725 376,263
Impairment loss 4,605 4,315 41,925
Share of (profit) loss of entities accounted for using equity
method
(132) (167) (1,622)
Amortization of goodwill 871 816 7,928
Increase (decrease) in allowance for doubtful accounts (265) (252) (2,448)
Increase (decrease) in provision for bonuses 4,411 9,540 92,693
Increase (decrease) in provision for product warranties (715) 1,172 11,387
Increase (decrease) in provision for retirement benefits 5,136 - -
Increase (decrease) in net defined benefit liability -3,459 33,608
Interest and dividend income (1,018) (2,305) (22,396)
Interest expenses 3,041 2,549 24,766
Foreign exchange losses (gains) (4,570) (4,397) (42,722)
Loss (gain) on sales of non-current assets 13 (396) (3,847)
Loss on retirement of non-current assets 936 730 7,092
Loss on litigation 16,268 2,227 21,638
Loss (gain) on sales of investment securities (5) - -
Decrease (increase) in notes and accounts receivable - trade 6,862 (16,060) (156,043)
Decrease (increase) in inventories 18,588 (4,304) (41,818)
Increase (decrease) in accrued consumption taxes 577 (2,160) (20,987)
Increase (decrease) in notes and accounts payable - trade (17,169) 18,401 178,789
Other, net (4,230) 2,905 28,246
Subtotal 69,047 126,716 1,231,208
Interest and dividend income received 1,833 2,099 20,394
Interest expenses paid (3,099) (2,693) (26,165)
Payments for loss on litigation (14,095) (4,068) (39,525)
Income taxes paid (10,692) (10,799) (104,947)
Net cash provided by (used in) operating activities 42,992 111,253 1,080,965
Cash flows from investing activities
Purchase of investment securities (0) (500) (4,858)
Proceeds from sales of investment securities 614 136
Purchase of property, plant and equipment (39,816) (33,627) (326,729)
Proceeds from sales of property, plant and equipment 1,105 840 8,161
Purchase of intangible assets (4,030) (6,752) (65,604)
Proceeds from transfer of business 3,147 - -
Other, net 75 506 4,917
Net cash provided by (used in) investing activities (39,511) (39,519) (383,977)
Cash flows from financing activities
Net increase (decrease) in short-term loans payable 16,962 2,503 24,319
Proceeds from long-term loans payable 50,000 - -
Repayments of long-term loans payable (30,500) (75,000) (728,721)
Proceeds from issuance of bonds 30,000 20,000 194,325
Redemption of bonds (40,000) - -
Repayments of lease obligations (417) (379) (3,682)
Purchase of treasury shares (0) (4) (38)
Cash dividends paid (4,651) (3,577) (34,755)
Cash dividends paid to minority shareholders (94) (110) (1,069)
Net cash provided by (used in) financing activities 21,298 (56,567) (549,621)
Effect of exchange rate change on cash and cash equivalents 9,830 11,695 113,622
Net increase (decrease) in cash and cash equivalents 34,609 26,861 260,989
Cash and cash equivalents at beginning of period 150,029 184,639 1,794,005
Cash and cash equivalents at end of period ¥184,639 ¥211,500 $2,054,994
Millions of yen
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