Toshiba 2003 Annual Report Download - page 40

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Thousands of
U.S. dollars
Millions of yen (Note 3)
2003 2002 2003
Cash flows from operating activities
Net income (loss) ¥ 18,503 ¥(254,017) $ 154,192
Adjustments to reconcile net income (loss) to net cash provided
by operating activities—
Depreciation and amortization 260,835 326,239 2,173,625
Provisions for pension and severance costs, less payments 20,296 (45,621) 169,133
Deferred income tax benefit (2,454) (150,100) (20,450)
Equity in income of affiliates (2,582) (2,440) (21,516)
Loss from sales, disposal and impairment of property
and securities, net 30,337 94,579 252,808
Minority interest in loss of consolidated subsidiaries (11,330) (6,315) (94,417)
(Increase) decrease in notes and accounts receivable, trade (13,520) 118,775 (112,667)
Decrease in finance receivables, net 2,538 32,056 21,150
Decrease in inventories 17,856 141,137 148,800
(Increase) decrease in other current assets (35,299) 4,354 (294,158)
(Increase) decrease in long-term receivables (15,283) 4,366 (127,358)
Decrease in long-term finance receivables, net 52,697 28,434 439,142
Increase (decrease) in notes and accounts payable, trade 6,392 (108,060) 53,267
Increase (decrease) in accrued income and other taxes 13,183 (19,038) 109,858
Decrease in advance payments received (16,860) (16,964) (140,500)
(Decrease) increase in accounts payable and other liabilities (53,706) 1,780 (447,551)
Net cash provided by operating activities 271,603 149,165 2,263,358
Cash flows from investing activities
Proceeds from sale of property 151,319 65,604 1,260,992
Proceeds from sale of securities 13,897 29,714 115,808
Acquisition of property and equipment (249,253) (364,671) (2,077,108)
Purchase of securities (22,557) (39,489) (187,975)
(Increase) decrease in investments in affiliates (12,409) 4,956 (103,408)
Increase in other assets and other (28,985) (21,693) (241,542)
Net cash used in investing activities (147,988) (325,579) (1,233,233)
Cash flows from financing activities
Proceeds from long-term debt 363,086 322,941 3,025,716
Repayment of long-term debt (280,965) (420,726) (2,341,375)
(Decrease) increase in short-term borrowings (238,600) 114,913 (1,988,333)
Dividends paid (2,428) (16,045) (20,233)
Proceeds from stock offering by subsidiaries 525 52,523 4,375
Repurchase of subsidiary common stock from minority shareholder (604) —(5,033)
Purchase of treasury stock (770) (111) (6,417)
Net cash (used in) provided by financing activities (159,756) 53,495 (1,331,300)
Effect of exchange rate changes on cash and cash equivalents (7,193) 5,756 (59,941)
Net decrease in cash and cash equivalents (43,334)(117,163) (361,116)
Cash and cash equivalents at beginning of year 370,432 487,595 3,086,933
Cash and cash equivalents at end of year ¥327,098 ¥ 370,432 $2,725,817
Supplemental disclosure of cash flow information (Note 23)
Cash paid during the year for—
Interest ¥ 31,932 ¥ 39,347 $ 266,100
Income taxes ¥ 43,094 ¥ 55,340 $ 359,117
The accompanying notes are an integral part of these statements.
38 TOSHIBA CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS
CONSOLIDATED STATEMENTS OF CASH FLOWS
Toshiba Corporation and its subsidiaries
For the years ended March 31, 2003 and 2002
ｱﾆﾚﾎﾟp34-55(英)6.18 03.6.25 5:41 PM ページ 38