Mitsubishi 2006 Annual Report Download - page 58

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56 MITSUBISHI MOTORS CORPORATION ANNUAL REPORT 2006
In thousands of
U.S. dollars
In millions of yen (Note 5)
2006 2005 2006
Operating activities:
Net loss ¥ (92,166) ¥(474,785) $ (784,596)
Adjustments to reconcile net loss to net cash
provided by operating activities:
Depreciation and amortization 68,718 96,043 584,984
Allowance for doubtful accounts, net of reversal (9,345) (9,125) (79,560)
Accrued retirement benefits, net of reversal 1,763 (11,722) 15,013
Loss (gain) from affiliates accounted for by the equity method (1,453) 13,002 (12,374)
Deferred income taxes 558 15,745 4,751
Minority interest 1,511 (5,882) 12,864
Loss (gain) on sales and disposal of property,
plant and equipment, net (1,862) 16,189 (15,854)
Loss on impairment of fixed assets 45,084 84,376 383,796
Gain on sales of investments in securities, net (391) (1,331) (3,331)
Loss on impairment of investments in securities 335 446 2,856
Loss compensation based on stock transfer contract 1,186 74,736 10,104
Stock issuance costs 295 12,854 2,513
Change in trade notes and accounts receivable (19,550) 39,597 (166,431)
Change in inventories (5,881) 53,402 (50,071)
Change in finance receivables (Note 16) 15,790 126,116 134,419
Change in retained interests in transferred receivables 16,853 49,660 143,474
Change in trade notes and accounts payable 30,210 (57,396) 257,176
Other 2,774 (8,274) 23,620
Net cash provided by operating activities 54,430 13,654 463,355
Investing activities:
Decrease (increase) in investments in term deposits 3,045 (18,920) 25,925
Purchase of property, plant and equipment (Note 16) (133,924) (140,760) (1,140,077)
Proceeds from sales of property, plant and equipment (Note 16) 45,839 111,788 390,218
Decrease (increase) in investment in securities (166) 7,301 (1,419)
Decrease in short-term loans receivable 741 5,009 6,315
Loans made (2,017) (444) (17,177)
Collection of loans receivable 1,584 1,616 13,491
Other 86 203 736
Net cash used in investing activities (84,811) (34,206) (721,985)
Financing activities:
Decrease in short-term borrowings (48,192) (425,649) (410,251)
Proceeds from issuance of long-term debt 41,687 119,974 354,873
Repayment or redemption of long-term debt (42,067) (328,067) (358,116)
Common and preferred stock issued 29,704 767,344 252,870
Dividend paid to minority interest — common stock (33) (40) (284)
Other (53) (5) (457)
Net cash provided by (used in) financing activities (18,955) 133,556 (161,366)
Effect of exchange rate changes on cash and cash equivalents 2,557 (12) 21,773
Net change in cash and cash equivalents (46,779) 112,991 (398,222)
Cash and cash equivalents at beginning of year 294,903 181,911 2,510,454
Change in cash and cash equivalents due to inclusion
and exclusion of subsidiaries in consolidation (54) —(464)
Cash and cash equivalents at end of year (Note 16) ¥ 248,069 ¥ 294,903 $ 2,111,767
See accompanying notes to consolidated financial statements.
Consolidated Statements of Cash Flows
Mitsubishi Motors Corporation and Consolidated Subsidiaries
For the years ended March 31, 2006 and 2005
Consolidated Statements of Cash Flows