Trend Micro 2014 Annual Report Download - page 25

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(4) Consolidated Statements of Cash Flows
(Million yen)
Account For the year ended
December 31, 2013
For the year ended
December 31, 2014
Cash flows from operating activities:
Net income before taxes 32,006  36,024
6,899  7,166
838  889
(106)  (25)
343  449
34  24
12  (20)
383   -
 - 1,217
(1,438)  (1,764)
6  17
1  59
(2,066)  (881)
- 260
- (6)
Depreciation and amortization
Stock compensations
Gain on reversal of stock options
Amortization of goodwill
Increase (decrease) in allowance for bad debts
Increase (decrease) in allowance for sales returns
Increase in allowance for retirement benefits
Increase (decrease) in net defined benefit liability
Interest income
Interest expenses
Equity in (gain)/loss of affiliated companies
(Gain) loss on sale of marketable securities
Loss on disposal of fixed assets
(Gain) and Loss on change in equity
(Gain) loss on sale of affiliated company securities (403)  -
Loss on liquidation of subsidiary 728  -
(Increase) decrease in notes and accounts receivable (1,226)  (1,031)
(Increase) decrease in inventories 27  (83)
Increase (decrease) in notes and accounts payable (376)  127
Increase (decrease) in accounts payable, other
& accrued expenses (706)  422
Increase (decrease) in deferred revenue 2,382  2,828
Virtual share bonus plan 2,190  (279)
Others 1,478  (880)
Subtotal 41,008  44,516
Proceeds from interest and dividend received 1,546  1,456
Payment for interest expenses (6)  (17)
Payment for income tax (11,980)  (14,013)
Net cash provided by operating activities 30,567  31,942
Cash flows from investing activities:
(Payments for)/Proceeds from time deposits (147)  1,488
Payments for purchases of marketable securities (106,114) (152,847)
and securities investments
Proceeds from sale or redemptions of marketable 96,917 127,239
securities and securities investments
Payments for purchases of property and equipment (1,836)  (2,038)
Payments for purchases of other intangibles (4,554)  (5,732)
Payments for purchase of affiliated company
securities
- (1,031)
Proceeds from sale of affiliated company securities 559 -
Payment for merger and acquisition (973) -
Net cash used in/provided by investing activities (16,150)  (32,922)
Cash flows from financing activities:
Payment for purchase of treasury stock (1,848)  (3,344)
Proceeds from sale of treasury stock 10,051  2,227
Dividends paid (8,413)  (15,770)
Net cash used in financing activities (210)  (16,887)
Effect of exchange rate changes on cash and cash equivalents 9,126  2,581
Net increase (decrease) in cash and cash equivalents 23,333  (15,286)
Cash and cash equivalents at beginning of period 50,446  73,949
Increased cash and cash equivalents
due to merger and acquisition 169 -
Cash and cash equivalents at end of period 73,949  58,662
22