Nikon 2000 Annual Report Download - page 18

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16
CONSOLIDATED STATEMENTS OF CASH FLOWS
Thousands of
U.S. Dollars
Millions of Yen (Note 1)
2000 1999 2000
Operating activities:
Income (loss) before income taxes and minority interest ¥ 11,479 ¥ (17,447) $ 108,136
Adjustments for:
Income taxes-paid (2,561) (4,721) (24,130)
Depreciation and amortization 17,251 20,110 162,515
Reversal of doubtful receivables (352) (877) (3,315)
Loss on sales or disposal of property, plant and equipment 1,004 1,003 9,454
Equity in earnings of non-consolidated subsidiaries and associated companies (174) (96) (1,637)
Other-net 398 (4,163) 3,748
Change in assets and liabilities:
Decrease (increase) in notes and accounts receivable — trade (27,372) 39,751 (257,865)
Decrease (increase) in inventories (7,311) 3,075 (68,869)
Increase (decrease) in notes and accounts payable — trade 38,874 (17,865) 366,218
Other-net 6,248 3,318 58,867
Total adjustments 26,005 39,535 244,986
Net cash provided by operating activities 37,484 22,088 353,122
Investing activities:
Capital expenditures (11,161) (25,636) (105,144)
Proceeds from sales of property, plant and equipment 2,682 2,592 25,264
Purchases of investments in securities (5,630) (4,775) (53,034)
Proceeds from sales of investments in securities 1,282 707 12,076
Proceeds from sales of investments in consolidated subsidiaries 3,079 29,005
Net decrease (increase) in loans receivable (3,961) 1,670 (37,318)
Proceeds from transfer of business 2,401 22,620
Other-net 6,882 1,946 64,833
Net cash used in investing activities (4,426) (23,496) (41,698)
Financing activities:
Proceeds from long-term debt 10,629 17,933 100,133
Repayments of long-term debt (12,340) (13,590) (116,251)
Net increase (decrease) in short-term borrowings (19,033) 2,616 (179,304)
Dividends paid (2,037) (1,480) (19,188)
Other-net (28) (264)
Net cash provided by (used in) financing activities (22,809) 5,479 (214,874)
Foreign currency translation adjustments on cash and cash equivalents (1,081) (758) (10,188)
Net increase in cash and cash equivalents 9,168 3,313 86,362
Cash and cash equivalents of newly consolidated subsidiaries
at beginning of year 39 646 366
Cash and cash equivalents of exclusive consolidated subsidiaries
at end of year (52) (494)
Cash and cash equivalents at beginning of year 23,419 19,460 220,630
Cash and cash equivalents at end of year ¥ 32,574 ¥ 23,419 $ 306,864
Non-cash investing and financing activities
Assets increased by consolidation of subsidiary previously unconsolidated ¥ 159 ¥ 647 $ 1,494
Liabilities increased by consolidation of subsidiary previosly unconsolidated 62 124 581
See Notes to Consolidated Financial Statements.
Nikon Corporation and Consolidated Subsidiaries
Years ended March 31, 2000 and 1999