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MITSUBISHI MOTORS CORPORATION
Annual Report 2013 37
Consolidated Statements of Cash Flows
Mitsubishi Motors Corporation and Consolidated Subsidiaries
(In millions of yen) (In thousands of
U.S. dollars) (Note 2)
For the years ended March 31,
2013 2012 2013
Operating activities:
Net income (loss) ¥ 37,978 ¥ 23,928 $ 403,815
Adjustments to reconcile net income (loss) to net cash provided by
(used in) operating activities:
Depreciation and amortization 54,325 56,796 577,626
Impairment loss 793 16,336 8,433
Increase (decrease) in allowance for doubtful accounts (1,596) (2,775) (16,970)
Increase (decrease) in provision for retirement benefits 2,676 1,713 28,461
Equity in (earnings) losses of affiliates (4,853) (5,932) (51,609)
Income taxes – deferred 10,385 1,937 110,428
Minority interests in income 3,648 2,450 38,789
Loss (gain) on sales and retirement of property, plant and equipment, net 5,032 1,807 53,503
Loss (gain) on sales of investment securities (11,533) (20) (122,636)
Loss (gain) on sales of subsidiaries and affiliates’ stocks 30,188 (400) 320,984
Decrease (increase) in notes and accounts receivable – trade 14,919 (36,490) 158,635
Decrease (increase) in inventories 5,976 (4,754) 63,550
Changes in finance receivables (Note 13) 15,153 (2,472) 161,122
Increase (decrease) in notes and accounts payable – trade (22,208) 42,703 (236,138)
Other, net (Note 13) 31,341 24,558 333,238
Net cash provided by (used in) operating activities 172,227 119,386 1,831,235
Investing activities:
Decrease (increase) in time deposits (40,203) (5) (427,474)
Purchases of property, plant and equipment (Note 13) (61,573) (72,452) (654,684)
Proceeds from sales of property, plant and equipment (Note 13) 8,528 8,403 90,677
Net decrease (increase) in investments in securities 11,619 19 123,541
Decrease (increase) in short-term loans receivable 8,651 (3,671) 91,990
Purchases of shares of affiliates (11,381) —(121,019)
Collection of long-term loans receivable 302 265 3,213
Net decrease in cash on the sale of subsidiaries resulting in change in
scope of consolidation (Note 13) (21,587) (71) (229,535)
Other, net (8,682) (1,558) (92,316)
Net cash provided by (used in) investing activities (114,327) (69,069) (1,215,608)
Financing activities:
Increase (decrease) in short-term loans payable 21,552 (34,321) 229,158
Proceeds from issuance of long-term debt 85,169 83,776 905,576
Repayment or redemption of long-term debt (106,473) (94,680) (1,132,096)
Cash dividends paid to minority shareholders (3,562) (3,014) (37,881)
Other, net (4,995) (4,339) (53,116)
Net cash provided by (used in) financing activities (8,310) (52,579) (88,359)
Effect of exchange rate changes on cash and cash equivalents 546 (3,208) 5,815
Net change in cash and cash equivalents 50,136 (5,471) 533,082
Cash and cash equivalents at beginning of year 310,993 316,464 3,306,680
Increase in cash and cash equivalents resulting from merger with
unconsolidated subsidiaries 37 —398
Cash and cash equivalents at end of year (Note 13) ¥ 361,167 ¥310,993 $ 3,840,161
See accompanying notes to consolidated financial statements.