Contents - MiTAC

MITAC INTERNATIONAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS (Continued)
FOR THE YEARS ENDED DECEMBER 31,
(EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS)
2003 2002
Cash flows from investing activities:
(Increase) decrease in marketable securities, net ( $ 1,541,814 ) $ 57,296
Increase in long-term investments ( 373,976 ) ( 272,409 )
Proceeds from disposal of long-term investments 510,584 681,150
Acquisition of property, plant and equipment ( 1,311,416 ) ( 2,011,103 )
Proceeds from disposal of other financial assets 1,859 -
Proceeds from disposal of property, plant and equipment 203,971 741,413
(Increase) decrease in other financial assets ( 7,866 ) 504
Increase in deferred charges ( 370,006 ) ( 360,868 )
(Increase) decrease in refundable deposits, net ( 414 ) 2,136
Decrease in limited assets 82,343 31,657
Decrease (increase) in other assets, net 73,925 ( 116,058 )
Net cash used in investing activities
Cash flows from financing activities:
( 2,732,810 ) ( 1,246,282 )
Increase in short-term debts, net 3,395,683 1,681,768
Increase in commercial paper payable, net 379,377 -
Proceeds from long-term loans 794,186 -
Repayments of long-term loans ( 13,720 ) ( 210,024 )
Redemption of convertible bonds payable ( 1,246,000 ) -
Increase in deposit-in 100 -
Directors’ and supervisors’ remuneration ( 4,000 ) ( 10,000 )
Employee stock warranty exercised 137,757 -
Cash dividends paid ( 208,276 ) ( 99,393 )
Employee bonuses paid ( 77,842 ) -
Sales of treasury stock 2,197 -
Acquisition of treasury stock ( 347,450 ) -
(Decrease) increase in minority interest ( 123,248 ) 169,359
Net cash provided by (used in) financing activities 2,688,764 1,531,710
Net increase (decrease) in cash and cash equivalents 957,171 ( 881,946 )
Cash and cash equivalents at beginning of year 791,172 1,673,118
Cash and cash equivalents at end of year
Supplemental disclosures of cash flow information:
$ 1,748,343 $ 791,172
Cash paid for interest $ 235,378 $ 300,364
Cash paid for compensation interest of convertible bond $ 584,748 $ -
Cash paid for income tax $ 601,180 $ 640,229
The accompanying notes are an integral part of the consolidated financial statements.
See report of independent accountants dated March 15, 2004.
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