Omron 1999 Annual Report Download - page 31

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29
Thousands of
Millions of yen U.S. dollars (Note 2)
1999 1998 1997 1999
Operating Activities:
Net income .............................................................................................. ¥ 2,174 ¥18,704 ¥15,739 $ 17,967
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization ............................................................ 31,396 31,129 31,234 259,471
Loss on sales of property, plant and equipment................................. 458 268 771 3,785
Valuation loss on property held for sale .............................................. —— 2,040 —
Net gain on sale of short-term investments
and investment securities.................................................................. (1,725) (1) (2,828) (14,256)
Termination and retirement benefits ................................................... 4,178 2,004 4,574 34,529
Deferred income taxes ........................................................................ (6,358) (634) (62) (52,545)
Minority interests................................................................................. 31 168 557 256
Loss on sale of business entities......................................................... 286 —— 2,364
Changes in assets and liabilities, net of effects of
business entities sold:
Notes and accounts receivable—trade, net.................................... 2,025 (3,537) (7,927) 16,736
Inventories ....................................................................................... 10,529 (8,412) (4,163) 87,016
Other assets .................................................................................... 5,306 (7,004) (2,080) 43,851
Notes and accounts payable—trade............................................... (11,969) (4,315) 12,000 (98,917)
Income taxes payable ..................................................................... (5,967) (1,998) 4,711 (49,314)
Accrued expenses and other .......................................................... (970) 4,425 3,232 (8,017)
Other, net............................................................................................. 189 1,289 (629) 1,562
Total adjustments............................................................................ 27,409 13,382 41,430 226,521
Net cash provided by operating activities................................... 29,583 32,086 57,169 244,488
Investing Activities:
Proceeds from sales or maturities of short-term investments
and investment securities...................................................................... 26,780 21,285 43,671 221,322
Purchase of short-term investments and investment securities .............. (22,275) (1,427) (45,904) (184,091)
Capital expenditures ............................................................................... (36,696) (35,896) (29,956) (303,273)
(Increase) decrease in leasehold deposits .............................................. (527) 5 285 (4,355)
Proceeds from sales of property, plant and equipment.......................... 1,895 1,335 2,818 15,661
Acquisition of minority interests .............................................................. (186) (2,933) (312) (1,537)
Proceeds from sale of business entities.................................................. 1,998 —— 16,513
Net cash used in investing activities ........................................... (29,011) (17,631) (29,398) (239,760)
Financing Activities:
Net borrowings (repayments) of short-term bank loans.......................... 15,515 (2,864) 3,738 128,223
Proceeds from issuance of long-term debt ............................................ 25,413 648 5,446 210,025
Repayments of long-term debt ............................................................... (8,956) (18,013) (43,634) (74,016)
Dividends paid......................................................................................... (3,372) (3,408) (3,407) (27,868)
Share buyback ........................................................................................ (6,971) —— (57,612)
Net cash provided by (used in) financing activities ..................... 21,629 (23,637) (37,857) 178,752
Effect of Exchange Rate Changes on Cash
and Cash Equivalents.............................................................................. (1,666) (1,741) 1,510 (13,769)
Net Increase (Decrease) in Cash and Cash Equivalents........................ 20,535 (10,923) (8,576) 169,711
Cash and Cash Equivalents at Beginning of the Year ........................... 68,365 79,288 87,864 565,000
Cash and Cash Equivalents at End of the Year...................................... ¥88,900 ¥68,365 ¥79,288 $734,711
See notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF CASH FLOWS
OMRON Corporation and Subsidiaries
Years ended March 31, 1999, 1998 and 1997