|
 |
Annual Report 2006
Consolidated Statements of Cash Flows
NSK Ltd. and Subsidiaries
| |
|
Millions of yen |
Thousands of
U.S. dollars
(Note 2) |
| Year ended March 31, |
2006 |
2005 |
2006 |
| Operating activities |
|
|
|
| Income before income taxes and minority interests |
¥43,068 |
¥35,031 |
$368,103 |
| Depreciation and amortization |
30,099 |
27,435 |
257,256 |
| Provision for retirement benefits |
2,344 |
(16,849) |
20,034 |
| Amortization of excess of cost over net assets acquired |
490 |
570 |
4,188 |
| Interest expense |
4,566 |
5,005 |
39,026 |
| Loss on devaluation of investment securities |
- |
81 |
- |
| Gain on sales of property, plant and equipment |
(1,681) |
- |
(14,368) |
| Gain on sales of investment securities |
(5,879) |
(1,304) |
(50,248) |
| Decrease in notes and accounts receivable |
3,491 |
10,280 |
29,838 |
| Increase in inventories |
(10,665) |
(5,171) |
(91,154) |
| Increase in notes and accounts payable |
10,069 |
13,776 |
86,060 |
| Other, net |
4,948 |
4,836 |
42,291 |
| Subtotal |
80,852 |
73,692 |
691,043 |
| Interest paid |
(4,414) |
(5,147) |
(37,726) |
| Income taxes paid |
(10,105) |
(10,557) |
(86,368) |
| Net cash provided by operating activities |
66,332 |
57,987 |
566,940 |
| |
|
|
|
| Investing activities |
|
|
|
| Additions to property, plant and equipment |
(47,157) |
(33,741) |
(403,051) |
| Proceeds from sales of property, plant and equipment |
3,148 |
1,854 |
26,906 |
Proceeds from sales of stock in companies accounted for by
equity method |
782 |
- |
6,684 |
Acquisition of subsidiaries’ stock resulting in changes in scope
of consolidation (Note 18) |
(27,539) |
- |
(235,376) |
Net cash outflows from sales of subsidiaries’ stock resulting in
changes in scope of consolidation (Note 18) |
(130) |
(895) |
(1,111) |
Proceeds from sales of subsidiaries’ stock resulting in changes
in scope of consolidation |
- |
24 |
- |
| Decrease in investment securities |
9,612 |
2,073 |
82,154 |
| Other, net |
(1,101) |
(952) |
(9,410) |
| Net cash used in investing activities |
(62,386) |
(31,638) |
(533,214) |
| |
|
|
|
| Financing activities |
|
|
|
| Increase (decrease) in short-term debt |
336 |
(12,306) |
2,872 |
| Increase in commercial paper |
5,000 |
- |
42,735 |
| Proceeds from issuance of bonds |
25,000 |
10,000 |
213,675 |
| Payments of bonds |
(10,000) |
(36,989) |
(85,470) |
| Decrease in long-term debt |
(62,06) |
(1,261) |
(53,043) |
| Cash dividends paid |
(5,935) |
(5,126) |
(50,726) |
| Acquisition of treasury stock |
(59) |
(58) |
(504) |
| Other, net |
(534) |
(388) |
(4,564) |
| Net cash provided by (used in) financing activities |
7,600 |
(46,129) |
64,957 |
| |
|
|
|
| Effect of exchange rate changes on cash and cash equivalents |
878 |
175 |
7,504 |
| Net increase (decrease) in cash and cash equivalents |
12,424 |
(19,605) |
106,188 |
| Cash and cash equivalents at beginning of the year |
39,387 |
58,993 |
336,641 |
| Cash and cash equivalents at end of the year |
¥51,812 |
¥39,387 |
$442,838 |
The accompanying notes are an integral part of these statements.
 |
|
