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25
TOSHIBA Annual Report 2013
Toshiba Corporation and Subsidiaries
For the years ended March 31, 2013 and 2012
Consolidated Statements of Cash Flows
Millions of yen
Thousands of
U.S. dollars
(Note 3)
2013 2012 2013
Cash flows from operating activities
Net income before noncontrolling interests ¥ 95,726 ¥ 80,061 $ 1,018,362
Adjustments to reconcile net income before noncontrolling interests
to net cash provided by operating activities−
Depreciation and amortization 217,752 249,646 2,316,510
Provisions for pension and severance costs, less payments (2,021) 5,301 (21,500)
Deferred income taxes 9,380 17,354 99,787
Equity in earnings of affiliates, net of dividends (13,889) (13,926) (147,755)
Gain from sales, disposal and impairment of property, plant and
equipment and intangible assets, net (4,971) (2,372) (52,883)
Loss from sales and impairment of securities and other investments, net
3,000 2,322 31,915
(Increase) decrease in notes and accounts receivable, trade
5,660 (194,430) 60,213
Increase in inventories (64,874) (19,178) (690,149)
Increase (decrease) in notes and accounts payable, trade (179,769) 120,594 (1,912,436)
Increase in accrued income and other taxes 7,753 4,391 82,479
Increase (decrease) in advance payments received (3,155) 104,893 (33,564)
Other 61,724 (19,659) 656,638
Net cash provided by operating activities 132,316 334,997 1,407,617
Cash flows from investing activities
Proceeds from sale of property, plant and equipment and intangible assets
87,672 103,818 932,681
Proceeds from sale of securities 3,876 9,638 41,234
Acquisition of property, plant and equipment (266,581) (291,733) (2,835,968)
Acquisition of intangible assets (29,630) (39,426) (315,213)
Purchase of securities (9,203) (18,435) (97,904)
Decrease in investments in affiliates 24,616 15,444 261,872
Acquisition of Landis+Gyr AG − (129,450) −
Other (7,097) (27,083) (75,500)
Net cash used in investing activities (196,347) (377,227) (2,088,798)
Cash flows from financing activities
Proceeds from long-term debt 350,101 370,911 3,724,479
Repayment of long-term debt (208,865) (206,325) (2,221,968)
Increase (decrease) in short-term borrowings, net 66,885 (128,267) 711,543
Dividends paid (42,547) (37,007) (452,628)
Purchase of treasury stock, net (50) (42) (532)
Purchase of shares of Westinghouse Group from noncontrolling
interests (124,724) − (1,326,851)
Other 972 490 10,340
Net cash provided by (used in) financing activities 41,772 (240) 444,383
Effect of exchange rate changes on cash and cash equivalents 17,123 (2,065) 182,160
Net decrease in cash and cash equivalents (5,136) (44,535) (54,638)
Cash and cash equivalents at beginning of year 214,305 258,840 2,279,840
Cash and cash equivalents at end of year ¥ 209,169 ¥ 214,305 $ 2,225,202
Supplemental disclosure of cash flow information
Cash paid during the year for−
Interest ¥ 33,090 ¥ 31,759 $ 352,021
Income taxes 48,662 43,912 517,681
Acquisition of IBM's Retail Store Solution business (Note 28)−
Assets acquired (net of cash and cash equivalents) 68,152 − 725,021
Liabilities assumed 5,854 − 62,277
Noncontrolling interests assumed 12,747 − 135,606
Account payable-nontrade for consideration for acquisition 17,874 − 190,149
Sale of Toshiba Mobile Display Co., Ltd. stock (Note 16)−
Assets transferred (net of cash and cash equivalents) − 189,664 −
Liabilities relinquished − 222,201 −
The accompanying notes are an integral part of these statements.