Sony 2007 Annual Report Download - page 109

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106
Yen in millions
2005 2006 2007
Cash flows from operating activities:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
¥ 163,838 ¥ 123,616 ¥ 126,328
Adjustments to reconcile net income to net cash provided
by operating activities—
Depreciation and amortization, including amortization of deferred insurance
acquisition costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
372,865 381,843 400,009
Amortization of film costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
276,320 286,655 368,382
Stock-based compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(74) 150 3,838
Accrual for pension and severance costs, less payments . . . . . . . . . . . . . . . . .
22,837 (7,563) (22,759)
Gain on the transfer to the Japanese government of the substitutional
portion of employee pension fund, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
—(73,472) —
Loss on sale, disposal or impairment of assets, net . . . . . . . . . . . . . . . . . . . . . .
27,994 73,939 5,820
Gain on sale or loss on devaluation of securities investments, net . . . . . . . . . . .
(1,722) (5,767) (13,387)
Gain on revaluation of marketable securities held in the financial service
business for trading purpose, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5,246) (44,986) (11,857)
Gain on change in interest in subsidiaries and equity investees . . . . . . . . . . . . .
(16,322) (60,834) (31,509)
Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(69,466) 80,115 (13,193)
Equity in net (income) losses of affiliated companies, net of dividends . . . . . . . .
(15,648) 9,794 (68,179)
Cumulative effect of an accounting change . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4,713 — —
Changes in assets and liabilities:
(Increase) decrease in notes and accounts receivable, trade . . . . . . . . . . . . .
(22,056) 17,464 (357,891)
(Increase) decrease in inventories. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
34,128 (164,772) (119,202)
Increase in film costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(294,272) (339,697) (320,079)
Increase (decrease) in notes and accounts payable, trade . . . . . . . . . . . . . . .
31,473 (9,078) 362,079
Increase (decrease) in accrued income and other taxes . . . . . . . . . . . . . . . . .
329,009 (14,396)
Increase in future insurance policy benefits and other . . . . . . . . . . . . . . . . . .
144,143 143,122 172,498
Increase in deferred insurance acquisition costs . . . . . . . . . . . . . . . . . . . . . .
(65,051) (51,520) (61,563)
(Increase) decrease in marketable securities held in the financial service
business for trading purpose . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(26,096) (35,346) 31,732
Increase in other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(29,699) (8,792) (35,133)
Increase in other current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
46,545 105,865 73,222
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
67,790 (49,887) 86,268
Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . .
¥ 646,997 ¥ 399,858 ¥ 561,028
(Continued on following page)
Consolidated Statements of Cash Flows
Sony Corporation and Consolidated Subsidiaries—Years ended March 31