Sony 2003 Annual Report Download - page 58

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Sony Corporation Annual Report 200356
Yen in millions Dollars in millions*
2001 2002 2003 2003
Cash flow s from operating activities:
Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 16,754 ¥ 15,310 ¥ 115,519 $ 963
Adjustments to reconcile net income to
net cash provided by operating activities—
Depreciation and amortization, including
amortization of deferred insurance
acquisition costs . . . . . . . . . . . . . . . . . . . . . 348,268 354,135 351,925 2,933
Amortization of film costs . . . . . . . . . . . . . . . 244,649 242,614 312,054 2,600
Accrual for pension and severance costs,
less payments . . . . . . . . . . . . . . . . . . . . . . . 21,759 14,995 37,858 316
Loss on sale, disposal or impairment of
long-lived assets, net . . . . . . . . . . . . . . . . . . 24,304 49,862 39,941 333
Gain on securities contribution to employee
retirement benefit trust . . . . . . . . . . . . . . . . (11,120) – ––
Gain on sales of securities investments, net . . (41,708) (1,398) (72,552) (605)
Gain on issuances of stock by
equity investees. . . . . . . . . . . . . . . . . . . . . . (18,030) (503) ––
Deferred income taxes . . . . . . . . . . . . . . . . . (5,579) (49,719) (98,016) (817)
Equity in net losses of affiliated companies,
net of dividends . . . . . . . . . . . . . . . . . . . . . 47,219 37,537 46,692 389
Cumulative effect of accounting changes . . . 104,473 (5,978) ––
Changes in assets and liabilities:
(Increase) decrease in notes and
accounts receivable, trade . . . . . . . . . . . . (177,484) 111,301 174,679 1,456
(Increase) decrease in inventories . . . . . . . . (103,085) 290,872 36,039 300
Increase in film costs
(after adjustment for cumulative effect of
an accounting change) . . . . . . . . . . . . . . (269,004) (236,072) (317,953) (2,650)
Increase (decrease) in notes and
accounts payable, trade . . . . . . . . . . . . . . 95,213 (172,626) (58,384) (486)
Increase (decrease) in accrued income
and other taxes . . . . . . . . . . . . . . . . . . . . 38,749 (39,589) 14,637 122
Increase in future insurance policy
benefits and other . . . . . . . . . . . . . . . . . . 241,140 314,405 233,992 1,950
Increase in deferred insurance
acquisition costs . . . . . . . . . . . . . . . . . . . (68,927) (71,522) (66,091) (551)
Increase in marketable securities held in the
insurance business for trading purpose . . . (20,000) (55,661) ––
(Increase) decrease in other current assets . . (17,031) 5,543 29,095 242
Increase (decrease) in other
current liabilities . . . . . . . . . . . . . . . . . . . 88,224 (19,418) 26,205 218
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,983 (46,492) 48,148 402
Net cash provided by
operating activities. . . . . . . . . . . . . . . . . ¥ 544,767 ¥ 737,596 ¥ 853,788 $ 7,115
(Continued on follow ing page.)
Consolidated Statements of Cash Flows
Sony Corporation and Consolidated Subsidiaries
Year ended M arch 31