Mitsubishi 2012 Annual Report Download - page 39

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Consolidated Statements of Cash Flows
Mitsubishi Motors Corporation and Consolidated Subsidiaries
For the years ended March 31, 2012 and 2011
In millions of yen In thousands of
U.S. dollars (Note 2)
2012 2011 2012
Operating activities:
Net income (loss) ¥ 23,928 ¥ 15,621 $ 291,137
Adjustments to reconcile net income (loss) to net cash provided by
(used in) operating activities:
Depreciation and amortization 56,796 65,884 691,043
Impairment loss 16,336 2,977 198,764
Increase (decrease) in allowance for doubtful accounts (2,775) 375 (33,771)
Increase (decrease) in provision for retirement benefits 1,713 732 20,842
Equity in (earnings) losses of affiliates (5,932) (5,914) (72,185)
Income taxes – deferred 1,937 (2,354) 23,572
Minority interests in income 2,450 3,462 29,813
Loss (gain) on sales and retirement of property, plant and equipment, net 1,807 669 21,989
Loss on adjustment for changes of accounting standard for asset
retirement obligations —3,031 —
Early retirement expense —17 —
Decrease (increase) in notes and accounts receivable – trade (36,490) 191 (443,974)
Decrease (increase) in inventories (4,754) (6,171) (57,851)
Changes in finance receivables (Note 13) (2,472) (19,385) (30,077)
Increase (decrease) in notes and accounts payable – trade 42,703 19,044 519,572
Other, net (Note 13) 24,138 25,629 293,689
Net cash provided by (used in) operating activities 119,386 103,811 1,452,565
Investing activities:
Decrease (increase) in time deposits (5) 494 (63)
Purchase of property, plant and equipment (Note 13) (72,452) (53,263) (881,520)
Proceeds from sales of property, plant and equipment (Note 13) 8,403 9,870 102,246
Net decrease (increase) in investments in securities 19 (1) 241
Decrease (increase) in short-term loans receivable (3,671) (6,510) (44,665)
Decrease (increase) in long-term loans receivable 265 320 3,227
Other, net (1,629) (3,500) (19,829)
Net cash provided by (used in) investing activities (69,069) (52,590) (840,362)
Financing activities:
Increase (decrease) in short-term loans payable (34,321) 2,580 (417,584)
Proceeds from issuance of long-term debt 83,776 206,691 1,019,299
Repayment or redemption of long-term debt (94,680) (194,443) (1,151,975)
Cash dividends paid to minority shareholders (3,014) (3,029) (36,673)
Other, net (4,339) (6,761) (52,797)
Net cash provided by (used in) financing activities (52,579) 5,037 (639,733)
Effect of exchange rate changes on cash and cash equivalents (3,208) (3,381) (39,040)
Net change in cash and cash equivalents (5,471) 52,875 (66,571)
Cash and cash equivalents at beginning of year 316,464 263,453 3,850,404
Increase (decrease) in cash and cash equivalents resulting from
change of scope of consolidation —22 —
Increase in cash and cash equivalents resulting from merger with
unconsolidated subsidiaries —112 —
Cash and cash equivalents at end of year (Note 13) ¥310,993 ¥ 316,464 $ 3,783,833
See accompanying notes to consolidated financial statements.
MITSUBISHI MOTORS CORPORATION
Annual Report 2012 37