Yamaha 2010 Annual Report Download - page 54

Consolidated Statements of Cash Flows
Yamaha Corporation and Consolidated Subsidiaries
Years ended March 31, 2010 and 2009
Millions of Yen
Thousands of
U.S. Dollars
(Note 3)
2010 2009 2010
Net cash provided by (used in) operating activities:
Loss before income taxes and minority interests ¥ (201) ¥ (12,159) $ (2,160)
Depreciation and amortization 14,139 17,912 151,967
Loss on impairment of fixed assets 1,962 15,323 21,088
Amortization of goodwill 163 1,422 1,752
Increase (decrease) in allowance for doubtful accounts 23 (116) 247
Loss on valuation of stocks of subsidiaries and affiliates 428 163 4,600
Loss (gain) on sales of stocks of subsidiaries and affiliates 2,159 —23,205
Loss on valuation of investments in capital of subsidiaries and affiliates —3,301 —
Loss on valuation of investment securities 478 277 5,138
Increase (decrease) in provision for retirement benefits 6,470 2,456 69,540
Interest and dividend income (786) (2,601) (8,448)
Interest expenses 451 615 4,847
Foreign exchange losses (gains) 104 (144) 1,118
Equity in (earnings) losses of affiliates 070
Loss (gain) on sales of investment securities 13 (4) 140
Loss (gain) on sales or disposal of property, plant and equipment, net (21) 621 (226)
Business restructuring expenses —4,863 —
Gain on reversal of provision for business restructuring expenses (113) —(1,215)
Special retirement expenses —96 —
Loss (gain) on liquidation of subsidiaries 6(231) 64
Tariff assessment from previous periods 574 —6,169
Decrease (increase) in notes and accounts receivable—trade (2,244) 13,432 (24,119)
Decrease (increase) in inventories 11,731 (8,859) 126,086
Increase (decrease) in notes and accounts payable—trade 1,092 (9,540) 11,737
Other, net (685) (7,433) (7,362)
Subtotal 35,748 19,399 384,222
Interest and dividend income received 790 2,649 8,491
Interest expenses paid (444) (638) (4,772)
Income taxes (paid) refunded 3,775 (23,646) 40,574
Net cash provided by (used in) operating activities 39,870 (2,235) 428,525
Net cash provided by (used in) investing activities:
Net decrease (increase) in time deposits (3) 423 (32)
Payments for purchases of property, plant and equipment (14,106) (20,522) (151,612)
Proceeds from sales of property, plant and equipment 1,771 1,397 19,035
Payments for purchase of investments in subsidiaries resulting in change in scope of consolidation (Note 19) —(8,073) —
Increase (decrease) from sales of subsidiaries and
affiliates resulting in change in scope of consolidation (Note 19) (1,237) —(13,295)
Payments for purchase of investment securities —(99) —
Proceeds from sales and redemption of investment securities 83,015 86
Payments for purchase of subsidiaries’ and affiliates’ stock (847) (630) (9,104)
Proceeds from sales of subsidiaries’ and affiliates’ stock —60 —
Payments for purchase of investments in capital of subsidiaries and affiliates —(869) —
Proceeds from liquidation of subsidiaries and affiliates 785 —8,437
Proceeds from decrease in investment in capital of subsidiaries and affiliates 453 —4,869
Other, net 464 (702) 4,987
Net cash provided by (used in) investing activities (12,711) (25,999) (136,619)
Net cash provided by (used in) financing activities:
Net increase (decrease) in short-term loans payable (4,714) 176 (50,666)
Proceeds from long-term loans payable 2,783 2,756 29,912
Repayment of long-term loans payable (1,293) (4,622) (13,897)
Proceeds from deposits received from membership 417 43
Repayments for deposits received from membership (585) (485) (6,288)
Purchases of treasury stock (4) (18,032) (43)
Cash dividends paid (5,917) (10,581) (63,596)
Cash dividends paid to minority shareholders (146) (228) (1,569)
Other, net 6(41) 64
Net cash used in financing activities (9,867) (31,041) (106,051)
Effect of exchange rate changes on cash and cash equivalents 83 (3,668) 892
Net increase (decrease) in cash and cash equivalents 17,375 (62,943) 186,748
Cash and cash equivalents at beginning of period 41,223 103,371 443,067
Increase in cash and cash equivalents from newly consolidated subsidiary 1,308 1,107 14,058
Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation (673) (311) (7,233)
Cash and cash equivalents at end of period (Note 19) ¥ 59,235 ¥ 41,223 $ 636,662
See notes to consolidated financial statements.
52 Yamaha Corporation