Mitsubishi 2004 Annual Report Download - page 34

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32
Consolidated Statements of Cash Flow s
Mitsubishi Motors Corporation and Consolidated Subsidiaries
For the years ended March 31, 2004 and 2003
In millions of yen In thousands of
U.S. dollars
(Note 5)
2004 2003 2004
Operating activities:
Net (loss) income ¥(215,424) ¥ 37,361 $(2,038,263)
Adjustments to reconcile net (loss) income to net cash (used in)
provided by operating activities:
Depreciation and amortization 137,911 192,432 1,304,867
Allowance for doubtful receivables, net of reversal 34,043 50,709 322,106
Accrued retirement benefits, net of reversal (6,878) 8,321 (65,085)
Gain on sales of investment in securities, net (40,010) (20,624) (378,565)
Loss on impairment of investment in securities 527 10,401 4,987
Gain on exchange of stocks —(1,399) —
Loss on sales and disposal of property, plant and equipment, net 4,022 3,358 38,056
Income from affiliates accounted for by the equity method (9,573) (2,373) (90,582)
Deferred income taxes 133,573 (19,121) 1,263,828
Minority interests 403 1,798 3,815
Changes in operating assets and liabilities:
Trade notes and accounts receivable 19,162 (23,725) 181,304
Inventories 3,330 (44,595) 31,514
Finance receivables (Note 16) (46,164) (114,009) (436,795)
Retained interests in transferred receivables 33,529 (89,891) 317,243
Other assets (97,660) (38,014) (924,028)
Trade notes and accounts payable (61,669) 59,563 (583,495)
Other liabilities 108,047 (21,141) 1,022,307
Other 1,381 28,591 13,068
Net cash (used in) provided by operating activities (1,449) 17,596 (13,716)
Investing activities:
Decrease in short-term investments 4(189) 45
Purchase of property, plant and equipment (Note 16) (134,785) (188,935) (1,275,287)
Proceeds from sales of property, plant and equipment (Note 16) 83,080 123,013 786,075
Decrease in investment in securities 102,059 18,156 965,647
Proceeds from sales of stock due to demerger of truck
and bus business (Note 16) —59,257 —
Loans made (6,674) (2,876) (63,150)
Collection of loans receivable 7,106 3,877 67,237
Purchase of minority interests —(1,993) —
Other (3,962) 7,236 (37,496)
Net cash provided by investing activities 46,828 17,546 443,070
Financing activities:
Increase in short-term borrowings 55,151 89,601 521,818
Proceeds from issuance of long-term debt 274,489 193,255 2,597,122
Repayment or redemption of long-term debt (272,834) (312,497) (2,581,460)
Dividend paid to minority (130) (2,358) (1,233)
Other (1) (43) (17)
Net cash provided by (used in) financing activities 56,674 (32,042) 536,229
Effect of exchange rate changes on cash and cash equivalents (2,242) (14,263) (21,221)
Net change in cash and cash equivalents 99,809 (11,162) 944,362
Cash and cash equivalents at beginning of year 84,544 95,189 799,930
Change in cash and cash equivalents due to inclusion
and exclusion of subsidiaries in consolidation (2,443) 517 (23,115)
Cash and cash equivalents at end of year (Note 16) ¥ 181,911 ¥ 84,544 $ 1,721,177
See accompanying notes to consolidated financial statements.