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CONSOLIDATED STATEMENTS OF CASH FLOWS
Fujitsu Limited and Consolidated Subsidiaries
Yen
(millions)
U.S. Dollars
(thousands)
(Note 2)
Years ended March 31 Notes 2010 2011 2011
Cash flows from operating activities (A):
Income before income taxes and minority interests ¥ 112,706 ¥ 102,236 $ 1,231,759
Adjustments to reconcile income before income taxes and
minority interests to net cash provided by operating activities:
Depreciation and amortization 231,741 207,767 2,503,217
Impairment loss 2,902 1,579 19,024
Amortization of goodwill 23,317 15,610 188,072
Increase (decrease) in provisions (29,831) (45,500) (548,193)
Interest and dividend income (8,017) (6,121) (73,747)
Interest charges 16,321 11,728 141,301
Equity in earnings of affiliates, net (2,805) (3,804) (45,831)
Loss on disposal of non-current assets 10,535 7,309 88,060
Gain on sales of investment securities, net (89,657) (9,366) (112,843)
(Increase) decrease in receivables, trade 48,937 25,687 309,482
(Increase) decrease in inventories 18,793 (22,706) (273,566)
Increase (decrease) in payables, trade (23,047) (1,718) (20,699)
Other, net 15,773 13,361 160,976
Cash generated from operations 327,668 296,062 3,567,012
Interest and dividends received 8,969 6,893 83,048
Interest paid (17,879) (11,179) (134,687)
Income taxes paid (23,369) (36,242) (436,650)
Net cash provided by operating activities 295,389 255,534 3,078,723
Cash flows from investing activities (B):
Purchases of property, plant and equipment (114,525) (122,267) (1,473,096)
Proceeds from sales of property, plant and equipment 9,177 6,861 82,663
Purchases of intangible assets (58,825) (59,693) (719,193)
Purchases of investment securities (23,662) (16,029) (193,120)
Proceeds from sales of investment securities 116,814 35,120 423,132
Proceeds from transfer of business 18 17,549 4,214 50,771
Proceeds from acquisition of subsidiaries’ stock resulting
in change in scope of consolidation 18 50,416 715 8,614
Other, net 4,076 8,971 108,084
Net cash provided by (used in) investing activities 1,020 (142,108) (1,712,145)
A+B* 296,409 113,426 1,366,578
Cash flows from financing activities:
Increase (decrease) in short-term borrowings (80,861) 7,373 88,831
Proceeds from long-term debt 82,047 63,739 767,939
Repayment of long-term debt (326,605) (174,142) (2,098,096)
Proceeds from sales of treasury stock 25 24 289
Purchase of treasury stock (22,691) (145) (1,747)
Dividends paid (13,842) (23,187) (279,361)
Other, net (43,383) (40,595) (489,096)
Net cash used in financing activities (405,310) (166,933) (2,011,241)
Effect of exchange rate changes on cash and cash equivalents (983) (8,091) (97,482)
Net decrease in cash and cash equivalents (109,884) (61,598) (742,145)
Cash and cash equivalents at beginning of year 528,174 420,166 5,062,241
Cash and cash equivalents of newly consolidated subsidiaries 1,876 25 302
Cash and cash equivalents at end of year ¥ 420,166 ¥ 358,593 $ 4,320,398
Non-cash investing and financing activities:
Acquisition of assets under finance leases ¥ 20,580 ¥ 13,171 $ 158,687
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.
106 FUJITSU LIMITED ANNUAL REPORT 2011