Mitsubishi 2002 Annual Report Download - page 46

Download and view the complete annual report

Please find page 46 of the 2002 Mitsubishi annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 70

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70

44
(In thousands of
U.S. dollars)
(In millions of yen) (Note 4)
2002 2001 2002
Operating activities:
Net income (loss) ¥ 11,256 ¥(278,139) $84,473
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Depreciation and amortization 174,919 164,488 1,312,713
Allowance for doubtful receivables, net of reversal (5,184) 8,089 (38,904)
Accrued retirement benefits, net of reversal (24,888) 109,160 (186,777)
Gain on sales of investment in securities, net (3,998) (7,750) (30,004)
Loss on devaluation of investment in securities 1,377 5,706 10,334
Gain (loss) on sales and disposal of property, plant and
equipment, net (187) 3,629 (1,403)
Equity in income of affiliates (4,352) (3,164) (32,660)
Deferred income taxes (52,547) (118,996) (394,349)
Minority interests (477) (20,527) (3,580)
Changes in operating assets and liabilities:
Trade notes and accounts receivable 107,132 87,700 803,992
Inventories 65,361 7,131 490,514
Other assets (29,651) (51,272) (222,522)
Trade notes and accounts payable (162,793) 87,050 (1,221,711)
Other liabilities 13,283 111,486 99,685
Other 2,734 22,696 20,518
Net cash provided by operating activities 91,982 127,289 690,296
Investing activities:
Increase (decrease) in short-term investments (184) 1,814 (1,381)
Purchase of property, plant and equipment (155,840) (157,483) (1,169,531)
Proceeds from sales of property, plant and equipment 124,899 94,936 937,328
Decrease in investment in securities 7,798 8,669 58,522
Loans made (795,174) (624,193) (5,967,535)
Collection of loans receivable 821,927 605,508 6,168,308
Changes in scope of consolidation –(15,650) –
Other (8,309) (5,044) (62,356)
Net cash used in investing activities (4,882) (91,441) (36,638)
Financing activities:
Increase (decrease) in short-term borrowings 137,871 (140,871) 1,034,679
Proceeds from issuance of long-term debt 226,500 181,629 1,699,812
Repayment or redemption of long-term debt (476,770) (256,992) (3,578,011)
Proceeds from issuance of common stock –201,745 –
Other (245) (78) (1,839)
Net cash used in financing activities (112,643) (14,567) (845,351)
Effect of exchange rate changes on cash and cash equivalents 4,870 4,395 36,548
Net increase (decrease) in cash and cash equivalents (20,673) 25,675 (155,144)
Cash and cash equivalents at beginning of year 115,863 89,590 869,516
Adjustments to beginning balance for inclusion of
subsidiaries in consolidation – 597 –
Cash and cash equivalents at end of year ¥ 95,189 ¥115,863 $714,364
See accompanying notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Mitsubishi Motors Corporation and Consolidated Subsidiaries
Years ended March 31, 2002 and 2001