Toshiba 1997 Annual Report Download - page 37

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35.
Thousands of
U.S. dollars
Millions of yen (Note 3)
1997 1996 1997
Cash flows from operating activities:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 67,077 ¥ 90,388 $ 540,944
Adjustments to reconcile net income to net cash provided
by operating activities –
Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . 255,422 264,818 2,059,855
Provision for severance indemnities, less payments . . . . . . . . . . . . . 3,459 4,646 27,895
Deferred income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 340 (14,071) 2,742
Equity in income of affiliated companies. . . . . . . . . . . . . . . . . . . . . (14,524) (17,442) (117,129)
Loss on sale and disposal of property and securities, net . . . . . . . . . . 6,603 11,037 53,250
Minority interest in income of consolidated subsidiaries . . . . . . . . . . 1,310 1,838 10,564
Increase in notes and accounts receivable, trade . . . . . . . . . . . . . . . (52,933) (107,045) (426,879)
Decrease in inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38,362 62,018 309,371
Increase in other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . (17,876) (24,204) (144,161)
(Increase) decrease in long-term receivables . . . . . . . . . . . . . . . . . . (17,765) 7,345 (143,266)
(Decrease) increase in notes and accounts payable, trade . . . . . . . . . (30,229) 138,970 (243,782)
(Decrease) increase in accrued income and other taxes. . . . . . . . . . . (50,248) 44,782 (405,226)
Decrease in advance payments received . . . . . . . . . . . . . . . . . . . . . (49,179) (90,969) (396,605)
Increase in other current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . 2,267 31,370 18,282
Net cash provided by operating activities . . . . . . . . . . . . . . 142,086 403,481 1,145,855
Cash flows from investing activities:
Proceeds from sale of property and securities . . . . . . . . . . . . . . . . . . . 42,241 29,691 340,653
Acquisition of property and equipment . . . . . . . . . . . . . . . . . . . . . . . (313,081) (277,607) (2,524,847)
Purchase of marketable securities . . . . . . . . . . . . . . . . . . . . . . . . . . . (13,934) (12,613) (112,371)
Effect of deconsolidation due to change in ownership
to minority interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –(13,414) –
Increase in investments in affiliated companies . . . . . . . . . . . . . . . . . . (22,588) (20,518) (182,161)
Decrease in other investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,643 20,726 279,379
Increase in other assets and other . . . . . . . . . . . . . . . . . . . . . . . . . . . (7,647) (3,952) (61,669)
Net cash used in investing activities . . . . . . . . . . . . . . . . . . (280,366) (277,687) (2,261,016)
Cash flows from financing activities:
Proceeds from long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 225,773 145,120 1,820,750
Repayment of long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (383,048) (265,895) (3,089,096)
Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (32,188) (32,188) (259,581)
Increase in short-term borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . 216,767 42,234 1,748,121
Net cash provided by (used in) financing activities . . . . . . . . 27,304 (110,729) 220,194
Effect of exchange rate changes on cash and cash equivalents . . . . 11,988 11,310 96,677
Net (decrease) increase in cash and cash equivalents . . . . . . . . . . (98,988) 26,375 (798,290)
Cash and cash equivalents at beginning of year . . . . . . . . . . . . . . . 679,408 653,033 5,479,096
Cash and cash equivalents at end of year . . . . . . . . . . . . . . . . . . . . ¥ 580,420 ¥ 679,408 $ 4,680,806
Supplemental disclosure of cash flow information:
Cash paid during the year for –
Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 63,597 ¥ 69,588 $ 512,879
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 121,930 ¥ 83,672 $ 983,306
The accompanying notes are an integral part of this statement.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Toshiba Corporation and its subsidiaries
For the years ended March 31, 1997 and 1996