Exhibit 99.1(b) 4
CONSOLIDATED STATEMENTS OF CASH FLOWS
NDCHealth Corporation and Subsidiaries
(In thousands)
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| Nine Months Ended |
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| February 28, |
| March 1, |
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Cash flows from operating activities: |
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Net income |
| $ | 20,142 |
| $ | 30,997 |
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Adjustments to reconcile net income to cash provided by operating activities: |
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Equity in losses of affiliated companies |
| 984 |
| 1,750 |
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Non-cash restructuring, impairment and other charges |
| 2,283 |
| — |
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Non-cash early extinguishment of debt charges |
| 1,217 |
| — |
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Loss related to investments |
| 14,955 |
| — |
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Depreciation and amortization |
| 22,952 |
| 18,426 |
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Deferred income taxes |
| 15,075 |
| 2,303 |
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Provision for bad debts |
| 2,115 |
| 1,552 |
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Other, net |
| 5,333 |
| (364 | ) | ||
Changes in assets and liabilities which provided (used) cash, net of the effects of acquisitions: |
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Accounts receivable, net |
| (5,307 | ) | (2,018 | ) | ||
Prepaid expenses and other assets |
| (8,612 | ) | (4,482 | ) | ||
Accounts payable and accrued liabilities |
| (1,304 | ) | (6,275 | ) | ||
Accrued interest on long term debt |
| 6,490 |
| 1,816 |
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Deferred income |
| (3,896 | ) | 4,695 |
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Income taxes |
| (2,146 | ) | 667 |
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Net cash provided by operating activities |
| 70,281 |
| 49,067 |
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Cash flows from investing activities: |
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Capital expenditures |
| (31,767 | ) | (23,398 | ) | ||
Investing activities and other non-current assets |
| (13,831 | ) | (15,897 | ) | ||
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Net cash used in investing activities |
| (45,598 | ) | (39,295 | ) | ||
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Cash flows from financing activities: |
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Net (repayments) borrowings under lines of credit |
| (91,000 | ) | 50,000 |
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Net principal payments under capital lease arrangements and other long-term debt |
| (1,888 | ) | (2,135 | ) | ||
Net cash from refinancing activities |
| 168,070 |
| — |
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Net issuances related to stock activities |
| 1,283 |
| 6,192 |
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Dividends paid |
| (4,170 | ) | (4,089 | ) | ||
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Net cash provided by financing activities |
| 72,295 |
| 49,968 |
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Cash flows from discontinued operations: |
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Cash provided by tax benefits of discontinued operations |
| 6,106 |
| 15,596 |
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Cash used in discontinued operations |
| (4,393 | ) | (6,649 | ) | ||
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Net cash provided by discontinued operations |
| 1,713 |
| 8,947 |
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Increase in cash and cash equivalents |
| 98,691 |
| 68,687 |
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Cash and cash equivalents, beginning of period |
| 13,447 |
| 12,420 |
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Cash and cash equivalents, end of period |
| $ | 112,138 |
| $ | 81,107 |
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