Olympus 2012 Annual Report Download - page 73

Millions of yen
Thousands of
U.S.dollars (Note1)
2012 2011
As restated
(Note 1)
2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Loss (income) before income taxes and minority interests ¥ (9,495) ¥ 19,938 $ (118,688)
Adjustments to reconcile income (loss) before
income taxes to net cash provided by operating activities:
Depreciation and amortization 33,787 34,188 422,338
Impairment loss on fixed assets (Note 18) 15,839 482 197,988
Amortization of goodwill 12,283 12,249 153,538
Amortization of negative goodwill — (2,408) —
Increase(decrease) in provision for retirement benefit 1,445 (150) 18,063
Decrease(increase) in prepaid pension cost 2,051 (1,581) 25,638
Decrease in provision for warrant cost (716) (1,170) (8,950)
Interest income (859) (831) (10,737)
Interest expense 14,026 12,744 175,325
Net gain of investments in affiliated companies accounted for by the equity method (144) (574) (1,800)
Gain on transfer of business — (2,696) —
Gain (loss) on available-for-sale securities, net (1,163) 2,346 (14,538)
Increase in provision for loss on business liquidation 3,205 — 40,063
Loss on sale of investment securities in subsidiaries and affiliates, net 38 77 475
Increase (decrease) in accounts receivable (11,681) 9,969 (146,013)
Increase in inventories (9,742) (3,452) (121,775)
Increase (decrease) in accounts payable 6,792 (5,731) 84,900
Increase (decrease) in other payable 260 (3,825) 3,250
Increase in accrued expense 3,719 1,565 46,488
Increase in allowance for doubtful accounts on funds — 2,448 —
Loss on funds (Note 19) — 327 —
Other 3,327 3,809 41,585
Sub-total 62,972 74,949 787,150
Interest and dividends received 1,836 1,708 22,950
Interest payments (13,990) (13,081) (174,875)
Outflow of money from funds (Note 25) — (2,448) —
Income taxes paid (19,929) (30,659) (249,112)
Net cash provided by operating activities 30,889 30,469 386,113
CASH FLOWS FROM INVESTING ACTIVITIES:
Deposits in time deposits (2,007) (4,810) (25,088)
Withdrawals from time deposits 3,719 5,227 46,488
Purchases of property, plant and equipment (22,761) (20,243) (284,513)
Purchases of intangible assets (12,483) (9,381) (156,038)
Purchases of investment securities (1,076) (3,745) (13,450)
Sales of investment securities 4,155 7,756 51,938
Payments for acquisition of newly consolidated subsidiaries (Note 24) (6,584) (12,328) (82,300)
Net increase from sales of investments in subsidiaries resulting in changes in scope of consolidation 27 201 338
Payments for acquisition of subsidiaries (624) (5,817) (7,800)
Payments for loans receivable (1) (3,578) (13)
Proceeds from loans receivable 2,408 120 30,100
Payments for transfer of business — (6,529) —
Proceeds from transfer of business — 5,797 —
Collection of fund assets (Note 26) — 65,553 —
Other (508) 780 (6,350)
Net cash used in (provided by) investing activities (35,735) 19,003 (446,688)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase (decrease) in short-term borrowings 2,722 (13,980) 34,025
Proceeds from long-term borrowings 60,244 34,501 753,050
Repayments of long-term borrowings (63,197) (18,908) (789,963)
Redemption of bonds (240) (20,040) (3,000)
Payments for purchase of treasury stock (152) (10,006) (1,900)
Dividends paid (4,004) (8,099) (50,049)
Dividends paid to minority shareholders (22) (40) (275)
Other (1,112) (787) (13,901)
Net cash used in financing activities (5,761) (37,359) (72,013)
Effect of exchange rate changes on cash and cash equivalents (1,220) (5,931) (15,250)
Net (decrease) increase in cash and cash equivalents (11,827) 6,182 (147,838)
Cash and cash equivalents at beginning of year 210,385 203,013 2,629,813
Net increase in cash and cash equivalents associated with newly consolidated subsidiaries 103 1,190 1,288
Cash and cash equivalents at end of year (Note 23) ¥ 198,661 ¥ 210,385 $ 2,483,263
See accompanying notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Olympus Corporation and Consolidated Subsidiaries
For the years ended March 31, 2012 and 2011
OLYMPUS 󱚈 Annual Report 2012 71