Yamaha 2000 Annual Report Download - page 22

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CONSOLIDATED STATEMENTS OF CASH FLOWS
YAMAHA CORPORATION and
Consolidated Subsidiaries
Year ended March 31, 2000
Thousands of
Millions of Yen U.S. Dollars (Note 2)
2000 2000
Cash flows from operating activities:
Loss before income taxes...................................................................................................... ¥(47,601) $(448,431)
Adjustments to reconcile income (loss) before income taxes to net cash
provided by operating activities:
Depreciation and amortization............................................................................................. 28,876 272,030
Allowance for doubtful accounts.......................................................................................... (1,010) (9,515)
Provision for accrued employees’ retirement benefits, net..................................................... (19,322) (182,025)
Interest and dividend income............................................................................................... (957) (9,016)
Interest expense.................................................................................................................... 2,968 27,960
Equity in earnings of unconsolidated subsidiaries and affiliates ............................................ (4,209) (39,651)
Gain on sale of investment securities.................................................................................... (9,091) (85,643)
Gain on sale or disposal of properties, net ............................................................................ (1,820) (17,146)
Loss on foreign exchange, net............................................................................................... 280 2,638
Changes in operating assets and liabilities:
Decrease in accounts and notes receivable—trade ............................................................ 11,511 108,441
Decrease in inventories .................................................................................................... 9,811 92,426
Increase in accounts and notes payable—trade................................................................. 3,087 29,081
Increase in long-term accounts payable—other ................................................................ 42,448 399,887
Other, net............................................................................................................................ (2,470) (23,269)
........................................................................................................................................ 12,501 117,767
Interest and dividends received ............................................................................................ 959 9,034
Interest paid......................................................................................................................... (2,968) (27,960)
Refundable income taxes, net of payment ............................................................................ 358 3,373
Net cash provided by operating activities ............................................................................. 10,851 102,223
Cash flows from investing activities:
Purchases of investment securities ........................................................................................ (34,321) (323,325)
Proceeds from sale of marketable securities .......................................................................... 3,733 35,167
Proceeds from sale of investment securities .......................................................................... 45,290 426,660
Purchases of properties......................................................................................................... (20,175) (190,061)
Proceeds from sale of properties ........................................................................................... 17,137 161,441
Other, net............................................................................................................................ 811 7,640
Net cash provided by investing activities .............................................................................. 12,474 117,513
Cash flows from financing activities:
Decrease in short-term loans, net ......................................................................................... (4,666) (43,957)
Proceeds from long-term debt.............................................................................................. 2,382 22,440
Repayments of long-term debt............................................................................................. (5,033) (47,414)
Cash dividends paid............................................................................................................. (206) (1,941)
Other, net............................................................................................................................ 0 0
Net cash used in financing activities ..................................................................................... (7,522) (70,862)
Effect of exchange rate changes on cash and cash equivalents ............................................. (1,467) (13,820)
Net increase in cash and cash equivalents............................................................................. 14,335 135,045
Cash and cash equivalents at beginning of year.................................................................... 17,923 168,846
Increase in cash and cash equivalents arising from inclusion of subsidiaries in
consolidation........................................................................................................................ 1,373 12,935
Cash and cash equivalents at end of year (Note 14).............................................................. ¥ 33,632 $ 316,835
See notes to consolidated financial statements.