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Consolidated Statements of Cash Flows
NEC Corporation and Subsidiaries
Years Ended March 31, 2013, 2014 and 2015
Millions of Yen
Thousands of
U.S. Dollars (Note 1)
2013 2014 2015 2015
CASH FLOWS FROM OPERATING ACTIVITIES
　Income before income taxes and minority interests . . . . . . . . . . . . . . . . . . . . ¥ 69,279 ¥ 83,961 ¥ 96,737 $ 806,142
　Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83,612 76,977 78,717 655,975
　Amortization of long-term prepaid expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,748 4,972 5,126 42,717
　Impairment losses on property, plant and equipment,
and other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,949 15,934 8,932 74,433
　Amortization of goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,428 17,085 16,814 140,117
　Increase (decrease) in allowance for doubtful accounts . . . . . . . . . . . . . 591 (4,163) (11,030) (91,917)
　Decrease in product warranty liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,183) (1,220) (979) (8,158)
　Increase (decrease) in provision for loss on
construction contracts and others . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,987 (6,634) (5,763) (48,025)
　Increase (decrease) in provision for
business structure improvement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (22,644) 9,086 392 3,267
　Increase (decrease) in provision for contingent loss . . . . . . . . . . . . . . . . . . . . (3,575) 10,476 787 6,558
　Increase (decrease) in provision for loss on
repurchase of computers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,143) 1,583 (464) (3,867)
　Interest and dividends income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5,247) (6,251) (5,658) (47,150)
　Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,979 10,036 10,066 83,883
　Equity in earnings of affiliated companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (409) (2,719) (8,126) (67,717)
　Gain on change in equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2,657) (365) — —
　Gain on sales of property, plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,569) (368) (3,276) (27,300)
　Loss on retirement of property, plant and equipment . . . . . . . . . . . . . . . . . 636 — — —
　Gain on sales of investment securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (9,057) (2,698) (2,216) (18,466)
　Loss on sales of investment securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 23 10 83
　Write-off of investment securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 804 1,738 1,044 8,700
　Gain on sales of investments in affiliated companies . . . . . . . . . . . . . . . . . (1,728) (53,923) (1,706) (14,217)
　Loss on sales of investments in affiliated companies . . . . . . . . . . . . . . . . . 880 64 — —
　Loss on contribution of securities to retirement benefit trust . . 5,898 — — —
　Gain on insurance claim . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,625) — — —
　Increase in trade notes and accounts receivable . . . . . . . . . . . . . . . . . . (9,600) (22,680) (74,822) (623,516)
　(Increase) decrease in inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,496 24,327 (21,830) (181,917)
　(Increase) decrease in accounts receivable, other . . . . . . . . . . . . . . . . (2,792) 3,380 5,665 47,208
　Increase (decrease) in trade notes and accounts payable . (8,548) (4,034) 16,668 138,900
　Others—net (Note 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,328 (26,937) 21,635 180,292
　Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 171,840 127,650 126,723 1,056,025
Interest and dividends received . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,481 6,216 5,721 47,675
Interest paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5,928) (8,914) (10,132) (84,433)
Income taxes paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (28,653) (30,828) (34,395) (286,625)
Proceeds from insurance income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,008 — — —
Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥143,748 ¥ 94,124 ¥ 87,917 $ 732,642
See notes to consolidated financial statements.
59 NEC Corporation
Annual Report 2015