Nikon 2014 Annual Report Download - page 58

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Millions of Yen
Thousands of U.S.
Dollars (Note 1)
2013 2014 2014
Operating activities:
Income before income taxes and minority interests ¥ 61,857 ¥ 74,692 $ 725,728
Adjustments for:
Income taxes — paid (30,284) (5,777) (56,133)
Loss on impairment of fixed assets 664 2,320 22,541
Decrease in allowance for doubtful receivables (1,404) (248) (2,406)
Increase in provision for product warranties 79 1,559 15,144
Depreciation and amortization 36,226 42,477 412,722
Decrease in net defined benefit liability (988) (531) (5,162)
Interest and dividend income (2,069) (2,073) (20,143)
E quity in earnings of associated companies (2,462) (2,328) (22,623)
Interest expenses 1,301 1,352 13,134
Gain on sales of property, plant and equipment (245) (215) (2,085)
Gain on sales of investment securities (5,101) (1,473) (14,314)
Loss on valuation of investment securities 36 459 4,458
Compensation income for expropriation (15,006) (145,805)
Other — net (13,080) 8,792 85,421
Changes in assets and liabilities:
Decrease in notes and accounts receivable — trade 19,790 13,925 135,296
Decrease in inventories 12,082 34,684 337,000
Decrease in notes and accounts payable — trade (35,821) (13,942) (135,462)
Decrease in advances received (3,679) (6,126) (59,521)
Decrease in accrued expenses (6,264) (3,227) (31,353)
Other — net 21,253 (15,129) (146,981)
Total adjustments (9,966) 39,493 383,728
Net cash provided by operating activities 51,891 114,185 1,109,456
Investing activities:
Purchases of property, plant and equipment (61,856) (32,681) (317,535)
Proceeds from sales of property, plant and equipment 2,762 738 7,169
Purchases of investment securities (1,410) (4,629) (44,973)
Proceeds from sales of investment securities 5,278 4,118 40,010
Proceeds from compensation for expropriation 4,492 43,645
Net increase in loans receivable (110) 23 225
Other — net (9,774) (15,255) (148,224)
Net cash used in investing activities (65,110) (43,194) (419,683)
Financing activities:
Net (decrease) increase in short-term borrowings (92) 762 7,407
Proceeds from long-term debt 4,700 46,889 455,586
Repayments of long-term debt (7,041) (7,113) (69,114)
Dividends paid (15,842) (8,722) (84,745)
Other — net 77 53 512
Net cash (used in) provided by financing activities (18,198) 31,869 309,646
Foreign currency translation adjustments on cash and cash equivalents 9,371 7,331 71,224
Net (decrease) increase in cash and cash equivalents (22,046) 110,191 1,070,643
C ash and cash equivalents of newly consolidated subsidiaries,
beginning of year 430 1,082 10,518
Cash and cash equivalents, beginning of year 131,711 110,095 1,069,711
Cash and cash equivalents, end of year ¥110,095 ¥221,368 $2,150,872
See notes to consolidated financial statements.
Consolidated Statement of Cash Flows
Nikon Corporation and Consolidated Subsidiaries
Year ended March 31, 2014
FINANCIAL INFORMATION
56 NIKON REPORT 2014