Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2011
Operating activities:      
Net income (loss) $ (82,182) $ 6,692 $ 63,044
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 45,559 44,124 52,932
Amortization of debt discount and debt issuance costs 4,138 3,599 4,930
Equity loss from NEC TOKIN 1,254    
Net (gain) loss on sales and disposals of assets 18 318 (1,261)
Stock-based compensation expense 4,599 3,075 1,783
Pension and other post-retirement benefits 1,071 (2,991) (2,319)
Deferred income taxes (317) (4,554) (3,403)
Write down of long-lived assets 7,582 15,786  
Loss on early extinguishment of debt     38,248
Goodwill impairment 1,092    
Other, net 554 702 (2,446)
Changes in assets and liabilities:      
Accounts receivable 7,866 47,298 (15,423)
Inventories 5,778 5,375 (48,817)
Prepaid expenses and other current assets (9,340) (6,182) (5,690)
Accounts payable (2,395) (22,052) 9,567
Accrued income taxes (1,052) (1,893) 4,315
Other operating liabilities (7,052) (8,567) 18,508
Net cash (used in) provided by operating activities (22,827) 80,730 113,968
Investing activities:      
Capital expenditures (46,174) (49,314) (34,989)
Investment in NEC TOKIN (excludes non cash investment) (50,917)    
Change in restricted cash (15,284)    
Acquisitions, net of cash received   (42,613)  
Proceeds from sales of assets 398 74 5,425
Net cash used in investing activities (111,977) (91,853) (29,564)
Financing activities:      
Proceeds from issuance of debt 39,825 116,050 227,525
Deferred acquisition payments (16,900)    
Payment of long-term debt (1,909) (40,581) (230,413)
Net (payments) borrowings under other credit facilities   (3,154) (2,479)
Debt issuance costs (275) (2,313) (7,853)
Proceeds from exercise of stock options 111 290 89
Debt extinguishment costs     (207)
Net cash provided by (used in) financing activities 20,852 70,292 (13,338)
Net (decrease) increase in cash and cash equivalents (113,952) 59,169 71,066
Effect of foreign currency fluctuations on cash (591) (699) 1,786
Cash and cash equivalents at beginning of fiscal year 210,521 152,051 79,199
Cash and cash equivalents at end of fiscal year 95,978 210,521 152,051
Supplemental Cash Flow Statement Information:      
Interest paid, net of capitalized interest 32,232 25,342 17,304
Income taxes paid $ 6,029 $ 7,078 $ 2,408