1999 Annual Report - Delta Electronics

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DELTA ELECTRONICS, INC. CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 1999 AND 1998 (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS) 1999 1998 (Restated) Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities: $ 3,647,886 $ 2,235,371 Minority interest income in consolidated subsidiaries 165,771 53,304 Bad debts expense Loss on decline in market value and inventory 58,115 - obsolescence 30,960 - Depreciation and amortization 892,668 659,414 Gain on disposal of property, plant and equipment, net ( 13,297) ( 4,785) Reversal of allowance for doubtful accounts - ( 30,732) Investment loss, net of gain on disposal of investments Exchange gain on revaluation of foreign currency ( 570,749) 138,898 denominated convertible bonds ( 80,079) ( 7,490) Provision for interest payable on bonds redemption Accrued interest on convertible bonds transferred to 134,104 138,584 capital reserve Changes in assets and liabilities: 15,464 1,214 Increase in notes receivable ( 68,850) ( 17,971) Increase in accounts receivable ( 3,553,839) ( 745,541) Increase in accounts receivable-related parties ( 104,434) ( 699,836) Increase in other receivables ( 17,628) ( 109,371) Decrease (increase) in other receivables-related parties 13,089 ( 94,681) Increase in inventories ( 2,134,824) ( 492,970) Increase in prepaid expenses ( 5,053) ( 11,611) Decrease in prepayments 16,291 12,038 Increase in other current assets ( 191,841) ( 129,751) Decrease (increase) in other assets-others 1,657 ( 1,657) Increase in accounts payable 3,538,859 1,198,220 Increase in accounts payable-related parties 275,391 38,215 Increase (decrease) in income tax payable 29,136 ( 93,421) Increase in accrued expenses 166,646 241,060 Increase (decrease) in other payables 132,240 ( 81,739) Decrease in received in advance 96,839 58,645 Increase in other current liabilities 110,773 15,174 Increase in deferred income tax 748,740 570,767 Increase in reserve for retirement plan 88,133 96,781 Increase in other liabilities-others 236,493 255,786 Net cash provided by operating activities 3,658,661 3,191,915 22
23 DELTA ELECTRONICS, INC. CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEARS ENDED DECEMBER 31, 1999 AND 1998 (EXPRESSED IN THOUSANDS OF NEW TAIWAN DOLLARS) 1999 1998 (Restated) Cash flows from investing activities Disposal of long-term investments Increase in long-term investments Increase in prepayment for long-term investment Increase in cash surrender value of life insurance Proceeds from disposal of property, plant and equipment Acquisition of property, plant and equipment Decrease in deposits - out, net Increase in intangible assets Increase in deferred charges Net cash used in investing activities Cash flows from financing activities Increase (decrease) in short-term loans, net Increase in convertible bonds Decrease in long-term loans, net Decrease in deposits - in, net Payment of directors' and supervisors' remuneration Payment of cash dividends ( 5,293,970) ( 4,727,423) Net cash provided by (used in) financing activities Foreign exchange difference Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year 2,597,616 ( 776,028) Cash and cash equivalents at end of year $ 3,449,843 $ 2,563,752 Supplemental disclosures of cash flow information Cash paid during the year for: Interest (net of amount capitalized) Income taxes Non-cash flows from investing and financing activities: Convertible bonds converted to common stock (including related premium) Employees' bonus Please refer to the accompanying notes and PricewaterhouseCoopers' audit report dated February 23, 2000.
Page 1 and 2: DELTA ELECTRONICS, INC. Annual Repo
Page 3 and 4: 3 1999 Annual Report Message from t
Page 5 and 6: 7 1999 Annual Report Major Products
Page 7 and 8: 11 1999 Annual Report Manufacturing
Page 10 and 11: 17 1999 Annual Report Financial Sta
Page 12 and 13: DELTA ELECTRONICS, INC. CONSOLIDATE
Page 16 and 17: DELTA ELECTRONICS, INC. NOTES TO CO
Page 18 and 19: Inventories Inventories are stated
Page 20 and 21: transition is amortized equally ove
Page 22 and 23: December 31, 1999 December 31, 1998
Page 24 and 25: 32 5) Property, plant and equipment
Page 26 and 27: The initial conversion price, which
Page 28 and 29: 13) Legal reserve The R.O.C Company
Page 30 and 31: payment of the final tax assessment
Page 32 and 33: G. Accounts payable DET DEJ Others
Page 34 and 35: short-term loan, accounts payable,
Page 36 and 37: When the contracts mature, there wi
Page 38 and 39: 46 11. DISCLOSURE OF INFORMATION ON
Page 40 and 41: 48 12. Disclosure information of in
Page 42 and 43: 50 D. Marketable securities acquire
Page 44 and 45: 52 H. Receivable from related parti
Page 46 and 47: 13. SEGMENTAL FINANCIAL INFORMATION
Page 48 and 49: February 23, 2000 (00)R.D24P.4057 T
Page 50 and 51: DELTA ELECTRONICS, INC. STATEMENT O
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1999 Annual Report - Delta Electronics

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