Pioneer 2012 Annual Report Download - page 30

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Consolidated Statement of Cash Flows
Pioneer Corporation and Subsidiaries
Year ended March 31, 2012
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2012 2011 2012
Operating Activities:
Income before income taxes and minority interests ¥ 5,903 ¥17,930 $ 71,988
Adjustments for:
Income taxes—paid (4,065) (5,542) (49,573)
Depreciation and amortization 24,568 29,842 299,610
Increase in accrued pension and severance costs 1,100 139 13,415
Insurance income for disaster (10,062) - (122,707)
Proceeds from insurance income for disaster 8,565 - 104,451
Loss (gain) on sale and disposal of property, plant and equipment—net 668 (5,353) 8,146
Loss on impairment of property, plant and equipment 510 1,324 6,220
Loss (gain) on sale of investment securities—net 13 (522) 159
Changes in assets and liabilities:
(Increase) decrease in receivables (13,211) 3,219 (161,110)
Increase in inventories (7,991) (7,648) (97,451)
Increase in trade payables 12,349 5,969 150,597
Decrease in accrued expenses (4,707) (217) (57,402)
Other—net 4,573 (1,687) 55,767
Net cash provided by operating activities 18,213 37,454 222,110
Investing Activities:
Decrease in time deposits - 6,103 -
Purchase of property, plant and equipment (24,769) (22,148) (302,061)
Proceeds from sale of property, plant and equipment 2,494 18,337 30,415
Proceeds from sale of investment securities 12 2,311 146
Other—net 482 (717) 5,878
Net cash provided by (used in) investing activities (21,781) 3,886 (265,622)
Financing Activities:
Net increase (decrease) in short-term borrowings 1,864 (7,246) 22,732
Increase in long-term debt 35,328 - 430,829
Repayment of long-term debt (35,750) (8,549) (435,976)
Redemption of bonds - (60,000) -
Proceeds from sale and lease-back transactions 458 2,018 5,585
Other—net (181) (467) (2,207)
Net cash provided by (used in) financing activities 1,719 (74,244) 20,963
Foreign Currency Translation Adjustments on Cash and Cash Equivalents 236 (3,672) 2,878
Net Decrease in Cash and Cash Equivalents (1,613) (36,576) (19,671)
Cash and Cash Equivalents, Beginning of Year 47,566 84,142 580,073
Cash and Cash Equivalents, End of Year ¥45,953 ¥47,566 $560,402
See notes to consolidated financial statements.
28 Pioneer Corporation Annual Report 2012