Toshiba 2005 Annual Report Download - page 60

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18 Toshiba Corporation 130th Anniversary
Thousands of
U.S. dollars
Millions of yen (Note 3)
2005 2004 2005
Cash flows from operating activities
Net income ¥ 46,041 ¥ 28,825 $ 430,290
Adjustments to reconcile net income to net cash provided
by operating activities—
Depreciation and amortization 241,362 248,831 2,255,720
Provisions for pension and severance costs, less payments 2,641 (8,001) 24,682
Deferred income tax provision 5,525 52,145 51,635
Equity in (earnings) losses of affiliates 5,816 13,625 54,355
Loss from sales, disposal and impairment of property,
plant and equipment, net 7,592 22,557 70,953
Gain from sales and impairment of securities
and other investments, net (4,241) (25,028) (39,635)
Minority interest in income of consolidated subsidiaries 9,247 4,708 86,420
Increase in notes and accounts receivable, trade (67,678) (14,617) (632,505)
(Increase) decrease in finance receivables, net (2,245) 1,949 (20,981)
Increase in inventories (10,107) (35,852) (94,458)
(Increase) decrease in other current assets (17,695) 5,017 (165,374)
Decrease in long-term receivables 3,928 3,776 36,710
(Increase) decrease in long-term finance receivables, net (1,682) 64,615 (15,719)
Increase (decrease) in notes and accounts payable, trade 82,427 (21,239) 770,346
Increase (decrease) in accrued income and other taxes 9,722 (12,493) 90,860
Decrease in advance payments received (51,263) (47,050) (479,093)
Increase in accounts payable and other liabilities 46,143 40,894 431,243
Net cash provided by operating activities 305,533 322,662 2,855,449
Cash flows from investing activities
Proceeds from sale of property, plant and equipment 42,094 39,908 393,402
Proceeds from sale of securities 34,138 53,469 319,047
Acquisition of property, plant and equipment (271,635) (199,127) (2,538,645)
Purchase of securities (12,397) (53,170) (115,860)
(Increase) decrease in investments in affiliates (7,051) 20,570 (65,897)
Increase in other assets and other (28,255) (51,116) (264,066)
Net cash used in investing activities (243,106) (189,466) (2,272,019)
Cash flows from financing activities
Proceeds from long-term debt 251,563 338,222 2,351,056
Repayment of long-term debt (211,280) (371,554) (1,974,579)
Decrease in short-term borrowings (105,416) (63,389) (985,196)
Dividends paid (17,104) (11,720) (159,851)
Proceeds from stock offering by subsidiaries —14,366 —
Repurchase of subsidiary common stock (634) (1,182) (5,925)
Redemption of subsidiary preferred stock —(35,000) —
Purchase of treasury stock, net (586) (195) (5,477)
Other (8,867) (2,281) (82,869)
Net cash used in financing activities (92,324) (132,733) (862,841)
Effect of exchange rate changes on cash and cash equivalents 5,623 (8,284) 52,551
Net decrease in cash and cash equivalents (24,274) (7,821) (226,860)
Cash and cash equivalents at beginning of year 319,277 327,098 2,983,897
Cash and cash equivalents at end of year ¥ 295,003 ¥ 319,277 $ 2,757,037
Supplemental disclosure of cash flow information (Note 27)
Cash paid during the year for—
Interest ¥ 21,761 ¥ 27,852 $ 203,374
Income taxes ¥ 38,539 ¥ 58,496 $ 360,178
The accompanying notes are an integral part of these statements.
Consolidated Statements of Cash Flows
Toshiba Corporation and Subsidiaries
For the years ended March 31, 2005 and 2004