| Annual Report 2000 | (For year ended March 31,2000) |
| Kawasaki Kisen Kaisha, Ltd. and Consolidated
Subsidiarie Consolidated Statement of Cash Flows Year ended March 31, 2000 |
| Millions of yen | Thousands of U.S. dollars (Note 1) |
|
| 2000 | 2000 | |
| Cash flows from operating activities: | ||
| Income before income taxes | ¥10,692 | $100,724 |
| Adjustments to
reconcile income before income taxes to net cash provided by operating activities: |
||
| Depreciation and amortization | 31,085 | 292,846 |
| Provision for accrued employees' retirement benefit | 887 | 8,352 |
| Interest and dividends income | (2,100) | (19,784) |
| Interest expenses | 11,592 | 109,201 |
| Loss on liquidation of subsidiaries | 807 | 7,600 |
| Loss on sale of securities | 2,159 | 20,340 |
| Gain on sale of vessels, property, equipment | (3,177) | (29,933) |
| Net loss on foreign exchange | 2,521 | 23,748 |
| Changes in operating assets and liabilities: | ||
| Decrease in accounts and notes receivable - trade | 4,013 | 37,809 |
| Increase in accounts and notes payable - trade | 3,108 | 29,282 |
| Increase in inventories | (2,534) | (23,873) |
| Others, net | 707 | 6,660 |
| Sub-total | 59,760 | 562,972 |
| Interest and dividends received | 1,280 | 12,058 |
| Interest paid | (11,760) | (110,782) |
| Payment for income taxes | (4,665) | (43,945) |
| Net cash provided by operating activities | 44,615 | 420,303 |
| Cash flows from investing activities: | ||
| Purchases of securities and other investments | (18,298) | (172,377) |
| Gain on sale of securities | 17,078 | 160,883 |
| Profit on sale of investment in a subsidiary | 79 | 744 |
| Purchases of vessels, property and equipment | (39,937) | (376,232) |
| Proceeds from sale of vessels, property and equipment | 5,024 | 47,333 |
| Others, net | (1,530) | (14,415) |
| Net cash used in investing activities | (37,584) | (354,064) |
| Cash flows from financing activities: | ||
| Proceeds from loans | 67,082 | 631,949 |
| Repayments of loans and obligations under finance leases | (87,753) | (826,688) |
| Payments of cash dividends | (1,741) | (16,405) |
| Proceeds from issuance of bonds | 10,922 | 102,895 |
| Others, net | (4) | (39) |
| Net cash used in financing activities | (11,494) | (108,288) |
| Effect of exchange rate changes on cash and cash equivalents | (1,403) | (13,215) |
| Net decrease in cash and cash equivalents | (5,866) | (55,264) |
| Cash and cash equivalents at beginning of the year | 31,371 | 295,531 |
| Increase in cash and cash equivalents arising from inclusion of subsidiaries in consolidation | 463 | 4,364 |
| Cash and cash equivalents at end of the year (Note 3) | ¥25,968 | $244,631 |
| The accompanying notes are an integral part of these statements. |