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37
NIKON CORPORATION ANNUAL REPORT 2013
CONSOLIDATED STATEMENT OF CASH FLOWS
Nikon Corporation and Consolidated Subsidiaries
Year ended March 31, 2013
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2012 2013 2013
Operating activities:
Income before income taxes ¥ 86,168 ¥ 61,857 $ 657,700
Adjustments for:
Income taxes—paid (14,098) (30,284) (321,999)
Loss on impairment of fixed assets 12,128 664 7,057
Decrease in allowance for doubtful receivables (2,424) (1,404) (14,926)
Increase in provision for product warranties 366 79 839
Depreciation and amortization 32,570 36,226 385,177
Decrease in provision for liability for employees’ retirement benefits (11,186) (981) (10,435)
Decrease in retirement allowances for directors and corporate auditors (606)
Interest and dividends income (2,072) (2,069) (22,002)
Equity in earnings of unconsolidated subsidiaries and associated companies (1,535) (2,462) (26,182)
Interest expenses 1,038 1,301 13,830
Gain on sales of property, plant and equipment (155) (245) (2,606)
Loss on disposal of property, plant and equipment 1,022
Loss (gain) on sales of investment securities 31 (5,101) (54,239)
Loss on valuation of investment securities 1 36 378
Other—net 2,568 (13,087) (139,148)
Change in assets and liabilities:
Decrease (increase) in notes and accounts receivable—trade (18,681) 19,790 210,425
Decrease (increase) in inventories (27,703) 12,082 128,462
Decrease in notes and accounts payable—trade (15,530) (35,821) (380,871)
Decrease in advances received (9,609) (3,679) (39,121)
Increase (decrease) in accrued expenses 29 (6,264) (66,600)
Other—net (17,249) 21,253 225,999
Total adjustments (71,095) (9,966) (105,962)
Net cash provided by operating activities 15,073 51,891 551,738
Investing activities:
Purchases of property, plant and equipment (35,773) (61,856) (657,688)
Proceeds from sales of property, plant and equipment 1,304 2,762 29,372
Purchases of investment securities (789) (1,410) (14,997)
Proceeds from sales of investment securities 393 5,278 56,116
Net increase in loans receivable (1,225) (110) (1,165)
Other—net (13,055) (9,774) (103,928)
Net cash used in investing activities (49,145) (65,110) (692,290)
Financing activities:
Net decrease in short-term borrowings (1,549) (92) (976)
Proceeds from long-term debt 2,900 4,700 49,973
Repayments of long-term debt (4,290) (7,041) (74,865)
Dividends paid (12,278) (15,842) (168,439)
Other—net 67 77 810
Net cash used in financing activities (15,150) (18,198) (193,497)
Foreign currency translation adjustments on cash and cash equivalents (665) 9,371 99,636
Net decrease in cash and cash equivalents (49,887) (22,046) (234,413)
Cash and cash equivalents of newly consolidated subsidiaries, beginning of year 537 430 4,572
Cash and cash equivalents, beginning of year 181,061 131,711 1,400,438
Cash and cash equivalents, end of year ¥131,711 ¥110,095 $1,170,597
See notes to consolidated financial statements.