Fujitsu 2010 Annual Report Download - page 104

Consolidated Statements of Cash Flows
Fujitsu Limited and Consolidated Subsidiaries
Yen
(millions)
U.S. Dollars
(thousands)
(Note 2)
Years ended March 31 Notes 2008 2009 2010 2010
Cash flows from operating activities (A):
Income (loss) before income taxes and
minority interests ¥ 109,444 ¥(113,314) ¥ 112,706 $ 1,211,892
Adjustments to reconcile income (loss) before
income taxes and minority interests to net
cash provided by operating activities:
Depreciation and amortization 257,127 282,111 231,741 2,491,839
Amortization of goodwill 22,171 16,292 23,317 250,720
Impairment loss 18,756 75,192 2,902 31,204
Increase (decrease) in provisions (24,611) (12,112) (29,831) (320,763)
Interest and dividend income (17,759) (19,358) (8,017) (86,204)
Interest charges 21,277 17,516 16,321 175,495
Equity in earnings of affiliates, net (9,192) 34,049 (2,805) (30,161)
Loss on disposal of non-current assets 17,314 9,499 10,535 113,280
Gain on sales of investment securities, net (17,308) (3,484) (89,657) (964,054)
Loss on revaluation of investment securities 25,132 18,729 — —
Loss on revaluation of inventories at the
beginning of period 25,045 — — —
(Increase) decrease in receivables, trade (26,452) 127,090 48,937 526,204
(Increase) decrease in inventories (8,361) 63,516 18,793 202,075
Increase (decrease) in payables, trade (22,892) (224,870) (23,047) (247,817)
Other, net (1,087) (1,497) 15,773 169,602
Cash generated from operations 368,604 269,359 327,668 3,523,312
Interest and dividends received 17,874 29,378 8,969 96,441
Interest paid (19,388) (18,532) (17,879) (192,247)
Income taxes paid (45,018) (32,107) (23,369) (251,280)
Net cash provided by operating activities 322,072 248,098 295,389 3,176,226
Cash flows from investing activities (B):
Purchases of property, plant and equipment (268,955) (175,851) (114,525) (1,231,452)
Proceeds from sales of property, plant
and equipment 3,986 18,649 9,177 98,677
Purchases of intangible assets (62,085) (66,117) (58,825) (632,527)
Purchases of investment securities (20,985) (17,022) (23,662) (254,430)
Proceeds from sales of investment securities 55,470 15,604 116,814 1,256,065
Proceeds from acquisition of subsidiaries’ stock
resulting in change in scope of consolidation 18 — — 50,416 542,108
Proceeds from transfer of business 18 — — 17,549 188,699
Other, net 8,643 126 4,076 43,828
Net cash provided by (used in) investing activities (283,926) (224,611) 1,020 10,968
A+B* 38,146 23,487 296,409 3,187,194
Cash flows from financing activities:
Increase (decrease) in short-term borrowings 16,099 81,423 (80,861) (869,473)
Proceeds from long-term debt 336,862 109,244 82,047 882,226
Repayment of long-term debt (202,707) (172,012) (326,605) (3,511,882)
Proceeds from sales of treasury stock 134 155 25 269
Purchase of treasury stock (27,232) (1,492) (22,691) (243,989)
Dividends paid (15,875) (24,460) (13,842) (148,839)
Other, net (44,956) (40,752) (43,383) (466,484)
Net cash provided by (used in) financing activities 62,325 (47,894) (405,310) (4,358,172)
Effect of exchange rate changes on cash and
cash equivalents (2,313) (4,035) (983) (10,570)
Net increase (decrease) in cash and
cash equivalents 98,158 (28,442) (109,884) (1,181,548)
Cash and cash equivalents at beginning of year 448,705 547,844 528,174 5,679,290
Cash and cash equivalents of newly
consolidated subsidiaries 981 8,772 1,876 20,172
Cash and cash equivalents at end of year ¥ 547,844 ¥ 528,174 ¥ 420,166 $ 4,517,914
Non-cash investing and financing activities:
Acquisition of assets under finance leases ¥ 19,015 ¥ 25,326 ¥ 20,580 $ 221,290
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
* This is referred to as “free cash flow” in Management’s Discussion and Analysis of Operations.
102 FUJITSU LIMITED Annual Report 2010