Toshiba 1999 Annual Report Download - page 52

Download and view the complete annual report

Please find page 52 of the 1999 Toshiba annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 72

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72

Page
50.
TOSHIBA ANNUAL REPORT 1999
Thousands of
U.S. dollars
Millions of yen (Note 3)
1999 1998 1999
Cash flows from operating activities:
Net (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ (13,896) ¥ 7,337 $ (114,843)
Adjustments to reconcile net (loss) income to net cash
provided by operating activities –
Depreciation and amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 312,955 293,812 2,586,405
(Reversal of) accrual for pension and severance costs, less payments
. . (17,907) 3,445 (147,992)
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (17,455) (2,840) (144,256)
Equity in income of affiliated companies . . . . . . . . . . . . . . . . . . . . . (1,760) (11,677) (14,545)
Gain on sale and disposal of property and securities, net . . . . . . . . . . (31,155) (18,100) (257,479)
Minority interest in income (loss) of consolidated subsidiaries . . . . . 1,380 (1,387) 11,405
Decrease in notes and accounts receivable, trade . . . . . . . . . . . . . . . 89,891 59,367 742,901
(Increase) decrease in finance receivables, net . . . . . . . . . . . . . . . . . (9,180) 30,597 (75,868)
Decrease in inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,341 64,736 176,372
Increase in other current assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . (60,990) (6,112) (504,050)
Decrease (increase) in long-term receivables . . . . . . . . . . . . . . . . . . 2,885 (13,817) 23,843
Increase in long-term finance receivables, net . . . . . . . . . . . . . . . . . (16,769) (20,163) (138,587)
Increase (decrease) in notes and accounts payable, trade. . . . . . . . . 17,782 (67,499) 146,959
Increase (decrease) in accrued income and other taxes . . . . . . . . . . 8,033 (12,622) 66,389
Increase (decrease) in advance payments received . . . . . . . . . . . . . . 45,350 (53,179) 374,793
(Decrease) increase in other current liabilities . . . . . . . . . . . . . . . . . (65,558) 20,872 (541,802)
Net cash provided by operating activities . . . . . . . . . . . . . . . 264,947 272,770 2,189,645
Cash flows from investing activities:
Proceeds from sale of property and securities . . . . . . . . . . . . . . . . . . . 132,957 79,424 1,098,818
Acquisition of property and equipment . . . . . . . . . . . . . . . . . . . . . . . . (409,695) (365,757) (3,385,909)
Purchase of marketable securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (11,130) (15,378) (91,984)
Effect of subsidiaries newly consolidated
due to change in ownership rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52,276 –432,033
Decrease in investments in affiliated companies . . . . . . . . . . . . . . . . . 3,622 4,309 29,934
(Increase) decrease in other investments . . . . . . . . . . . . . . . . . . . . . . . (28,648) 16,615 (236,760)
Increase in other assets and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (19,451) (19,419) (160,752)
Net cash used in investing activities . . . . . . . . . . . . . . . . . . . (280,069) (300,206) (2,314,620)
Cash flows from financing activities:
Proceeds from long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 447,771 530,023 3,700,587
Repayment of long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (416,954) (265,564) (3,445,901)
Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (25,656) (32,188) (212,033)
Decrease in short-term borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . (99,483) (166,692) (822,174)
Net cash (used in) provided by financing activities . . . . . . . (94,322) 65,579 (779,521)
Effect of exchange rate changes on cash and cash equivalents . . . . . . . . . (8,739) (2,628) (72,223)
Net (decrease) increase in cash and cash equivalents . . . . . . . . . . . . . . . . (118,183) 35,515 (976,719)
Cash and cash equivalents at beginning of year . . . . . . . . . . . . . . . . . . . 615,935 580,420 5,090,372
Cash and cash equivalents at end of year . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 497,752 ¥ 615,935 $ 4,113,653
Supplemental disclosure of cash flow information:
Cash paid during the year for –
Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 65,719 ¥ 71,285 $ 543,132
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 45,810 ¥ 65,230 $ 378,595
The accompanying notes are an integral part of these statements.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Toshiba Corporation and its subsidiaries
For the years ended March 31, 1999 and 1998