Exhibit 99.1 (b)3
CONSOLIDATED BALANCE SHEETS
NDCHealth Corporation and Subsidiaries
(In thousands, except share data)
May 30, 2003 | May 31, 2002 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 16,103 | $ | 13,447 | ||||
Accounts receivable | 78,988 | 76,161 | ||||||
Allowance for doubtful accounts | (6,785 | ) | (5,710 | ) | ||||
Accounts receivable, net | 72,203 | 70,451 | ||||||
Income tax receivable | 1,199 | 2,229 | ||||||
Deferred income taxes | 21,663 | 19,987 | ||||||
Prepaid expenses and other current assets | 34,304 | 22,677 | ||||||
Total current assets | 145,472 | 128,791 | ||||||
Property and equipment, net | 116,678 | 101,566 | ||||||
Intangible assets, net | 479,234 | 377,322 | ||||||
Deferred income taxes | 5,018 | 21,403 | ||||||
Debt issuance cost | 12,756 | 1,444 | ||||||
Investments | 9,956 | 13,497 | ||||||
Other | 18,138 | 14,161 | ||||||
Total Assets | $ | 787,252 | $ | 658,184 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
Current liabilities: | ||||||||
Line of credit | $ | — | $ | 91,000 | ||||
Short-term borrowings | — | 11,906 | ||||||
Current portion of long-term debt | 6,558 | 963 | ||||||
Current portion of obligations under capital leases | 1,028 | 1,296 | ||||||
Accounts payable and other accrued liabilities | 61,211 | 75,035 | ||||||
Accrued interest | 13,281 | 1,012 | ||||||
Deferred revenue | 38,137 | 21,089 | ||||||
Total current liabilities | 120,215 | 202,301 | ||||||
Long-term debt | 321,262 | 151,910 | ||||||
Obligations under capital leases | 558 | 1,779 | ||||||
Deferred revenue | 9,461 | — | ||||||
Other long-term liabilities | 30,225 | 22,592 | ||||||
Total liabilities | 481,721 | 378,582 | ||||||
Commitments and contingencies | ||||||||
Minority interest in equity of subsidiaries | 9,019 | 21,856 | ||||||
Stockholders’ equity: | ||||||||
Preferred stock, par value $1.00 per share; 1,000,000 shares authorized, none issued | — | — | ||||||
Common stock, par value $.125 per share; 200,000,000 shares authorized; 34,888,753 and 34,643,922 shares issued in 2003 and 2002, respectively. | 4,361 | 4,330 | ||||||
Capital in excess of par value | 216,156 | 212,026 | ||||||
Retained earnings | 79,228 | 54,194 | ||||||
Deferred compensation and other | (4,301 | ) | (6,743 | ) | ||||
Other comprehensive income | 1,068 | (6,061 | ) | |||||
Total stockholders’ equity | 296,512 | 257,746 | ||||||
Total Liabilities and Stockholders’ Equity | $ | 787,252 | $ | 658,184 | ||||