Pioneer 2013 Annual Report Download - page 30

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Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2013 2012 2013
Operating Activities:
Income (loss) before income taxes and minority interests ¥(10,801) ¥ 5,903 $(114,904)
Adjustments for:
Income taxes—paid (5,169) (4,065) (54,989)
Depreciation and amortization 25,413 24,568 270,351
Insurance income for disaster (291) (10,062) (3,096)
Proceeds from insurance income for disaster 1,788 8,565 19,021
Loss on sales and disposals of property, plant and equipment—net 3 668 32
Loss on impairment of property, plant and equipment 61 510 649
(Gain) loss on sales of investment securities—net (253) 13 (2,691)
Loss on impairment of investment securities 5,040 51 53,617
Changes in assets and liabilities:
Decrease (increase) in receivables 3,611 (13,211) 38,415
Increase in inventories (1,352) (7,991) (14,383)
(Decrease) increase in trade payables (18,714) 12,349 (199,085)
Decrease in accrued expenses (9,807) (4,707) (104,330)
Increase in provision for restructuring costs 6,211 – 66,074
Increase in accrued pension and severance costs 1,845 1,100 19,628
Other—net 3,594 4,522 38,234
Net cash provided by operating activities 1,179 18,213 12,543
Investing Activities:
Increase in time deposits (991) – (10,543)
Purchase of property, plant and equipment (34,965) (24,769) (371,968)
Proceeds from sales of property, plant and equipment 356 2,494 3,787
Other—net 361 494 3,841
Net cash used in investing activities (35,239) (21,781) (374,883)
Financing Activities:
Increase in short-term borrowings—net 10,264 1,864 109,191
Increase in long-term debt 70,288 35,328 747,745
Repayments of long-term debt (75,070) (35,750) (798,617)
Repayments of lease obligations (2,168) (938) (23,064)
Proceeds from sale and leaseback transactions 3,413 458 36,309
Other—net 291 757 3,096
Net cash provided by financing activities 7,018 1,719 74,660
Foreign Currency Translation Adjustments on Cash and Cash Equivalents 2,056 236 21,872
Net Decrease in Cash and Cash Equivalents (24,986) (1,613) (265,808)
Cash and Cash Equivalents, Beginning of Year 45,953 47,566 488,861
Cash and Cash Equivalents, End of Year ¥ 20,967 ¥ 45,953 $ 223,053
See notes to consolidated financial statements.
Consolidated Statement of Cash Flows
Pioneer Corporation and Its Subsidiaries
Year ended March 31, 2013
Pioneer Corporation Annual Report 2013
28