Ndchealth (NDC) 8-K Financial statements and exhibits

Exhibit 99.1(b)4

CONSOLIDATED STATEMENTS OF CASH FLOWS

NDCHealth Corporation and Subsidiaries

(In thousands)

	Six Months Ended
	November 29, 2002			November 30, 2001
Cash flows from operating activities:
Net income	$	23,842		$	19,752
Adjustments to reconcile net income to cash provided by operating activities:
Equity in losses of affiliated companies		625			1,406
Non-cash early extinguishment of debt charges		805			—
Depreciation and amortization		15,110			12,478
Deferred income taxes		5,342			(186	)
Provision for bad debts		1,544			984
Other, net		2,300			362
Changes in assets and liabilities which provided (used) cash, net of the effects of acquisitions:
Accounts receivable, net		(4,029	)		4,429
Prepaid expenses and other assets		370			(3,473	)
Accounts payable and accrued liabilities		(3,413	)		(5,921	)
Deferred income		(3,922	)		2,313
Income taxes		2,059			614
Net cash provided by operating activities		40,633			32,758
Cash flows from investing activities:
Capital expenditures		(20,804	)		(14,570	)
Other investing activities		(7,026	)		—
Investments and other non-current assets		(3,218	)		(7,172	)
Net cash used in investing activities		(31,048	)		(21,742	)
Cash flows from financing activities:
Net repayments under lines of credit		(91,000	)		—
Net principal payments under capital lease arrangements and other long-term debt		(1,625	)		(1,922	)
Net cash from refinancing activities		165,945			—
Net issuances related to stock activities		1,227			4,814
Dividends paid		(2,778	)		(2,723	)
Net cash provided by financing activities		71,769			169
Cash flows from discontinued operations:
Cash provided by tax benefits of discontinuedoperations		6,106			10,984
Cash used in discontinued operations		(3,519	)		(4,338	)
Net cash provided by discontinued operations		2,587			6,646
Increase in cash and cash equivalents		83,941			17,831
Cash and cash equivalents, beginning of period		13,447			12,420
Cash and cash equivalents, end of period	$	97,388		$	30,251