Mitsubishi 2011 Annual Report Download - page 43

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Consolidated Statements of Cash Flows
Mitsubishi Motors Corporation and Consolidated Subsidiaries
For the years ended March 31, 2011 and 2010
In millions of yen
In thousands of
U.S. dollars (Note 3)
2011 2010 2011
Operating activities:
Net income (loss) ¥ 15,621 ¥ 4,758 $ 187,867
Adjustments to reconcile net income (loss) to net cash provided by
(used in) operating activities:
Depreciation and amortization 65,884 71,869 792,357
Impairment loss 2,977 214 35,810
Increase (decrease) in allowance for doubtful accounts 375 (551) 4,520
Increase (decrease) in provision for retirement benefits 732 (52) 8,807
Equity in (earnings) losses of affiliates (5,914) (4,544) (71,131)
Income taxes–deferred (2,354) 1,150 (28,314)
Minority interests in income 3,462 2,542 41,636
Loss (gain) on sales and retirement of property, plant and equipment, net 669 (736) 8,047
Loss on adjustment for changes of accounting standard for asset
retirement obligations 3,031 —36,462
Early retirement expense 17 1,168 207
Decrease (increase) in notes and accounts receivable–trade 191 (27,975) 2,300
Decrease (increase) in inventories (6,171) 12,113 (74,221)
Change in finance receivables (Note 14) (19,385) (15,597) (233,139)
Increase (decrease) in notes and accounts payable–trade 19,044 107,557 229,042
Other, net (Note 14) 25,629 (51,199) 308,227
Net cash provided by (used in) operating activities 103,811 100,716 1,248,480
Investing activities:
Decrease (increase) in time deposits 494 12,267 5,943
Purchase of property, plant and equipment (Note 14) (53,263) (44,279) (640,568)
Proceeds from sales of property, plant and equipment (Note 14) 9,870 13,941 118,706
Net decrease (increase) in investments in securities (1) 260 (20)
Decrease (increase) in short-term loans receivable (6,510) 349 (78,297)
Decrease (increase) in long-term loans receivable 320 399 3,857
Other, net (3,500) (5,263) (42,100)
Net cash provided by (used in) investing activities (52,590) (22,325) (632,480)
Financing activities:
Increase (decrease) in short-term loans payable 2,580 (52,161) 31,028
Proceeds from issuance of long-term debt 206,691 171,800 2,485,764
Repayment or redemption of long-term debt (194,443) (79,843) (2,338,472)
Cash dividends paid to minority shareholders (3,029) (1,671) (36,429)
Other, net (6,761) (7,242) (81,314)
Net cash provided by (used in) financing activities 5,037 30,881 60,577
Effect of exchange rate changes on cash and cash equivalents (3,381) (584) (40,667)
Net change in cash and cash equivalents 52,875 108,688 635,910
Cash and cash equivalents at beginning of year 263,453 154,666 3,168,410
Increase (decrease) in cash and cash equivalents resulting from
change of scope of consolidation 22 25 272
Increase in cash and cash equivalents resulting from merger with
unconsolidated subsidiaries 112 73 1,356
Cash and cash equivalents at end of year (Note 14) ¥ 316,464 ¥ 263,453 $ 3,805,950
See accompanying notes to consolidated financial statements.
MITSUBISHI MOTORS CORPORATION
Annual Report 2011 41