Exhibit 99.1 (b) 4
CONSOLIDATED STATEMENTS OF CASH FLOWS
NDCHealth Corporation and Subsidiaries
(In thousands)
Year Ended | ||||||||
May 30, 2003 | May 31, 2002 | |||||||
Cash flows from operating activities: | ||||||||
Net income | $ | 30,602 | $ | 15,110 | ||||
Adjustments to reconcile net income to cash provided by operating activities: | ||||||||
Equity in losses of affiliated companies | 1,348 | 2,064 | ||||||
Non-cash restructuring, impairment and other charges | 2,283 | — | ||||||
Non-cash early extinguishment of debt charges | 1,217 | — | ||||||
Depreciation and amortization | 30,881 | 24,374 | ||||||
Deferred income taxes | 19,365 | (8,620 | ) | |||||
Provision for bad debts | 1,678 | 1,619 | ||||||
Loss related to investments | 14,455 | 41,000 | ||||||
Other, net | 3,440 | 269 | ||||||
Changes in assets and liabilities which provided (used) cash, net of the effects of acquisitions: | ||||||||
Accounts receivable, net | (4,296 | ) | (6,429 | ) | ||||
Prepaid expenses and other assets | (17,732 | ) | (3,492 | ) | ||||
Accounts payable and accrued liabilities | (7,195 | ) | (1,973 | ) | ||||
Accrued interest on long term debt | 12,269 | 161 | ||||||
Deferred revenue | 14,426 | 636 | ||||||
Income taxes | 827 | (2,067 | ) | |||||
Net cash provided by operating activities | 103,568 | 62,652 | ||||||
Cash flows from investing activities: | ||||||||
Capital expenditures | (44,791 | ) | (30,985 | ) | ||||
Business acquisitions, net of acquired cash | (116,146 | ) | (119,626 | ) | ||||
Investing activities and other non-current assets | (8,180 | ) | (14,310 | ) | ||||
Net cash used in investing activities | (169,117 | ) | (164,921 | ) | ||||
Cash flows from financing activities: | ||||||||
Net (repayments) borrowings under lines of credit | (91,000 | ) | 91,000 | |||||
Credit facility fee | — | (889 | ) | |||||
Net principal payments under capital lease arrangements and other long-term debt | (8,033 | ) | (2,371 | ) | ||||
Net cash from refinancing activities | 168,006 | — | ||||||
Net issuances related to stock activities | 4,634 | 6,559 | ||||||
Dividends paid | (5,568 | ) | (5,457 | ) | ||||
Net cash provided by financing activities | 68,039 | 88,842 | ||||||
Cash flows from discontinued operations: | ||||||||
Cash provided by tax benefits of discontinued operations | 6,106 | 21,233 | ||||||
Cash used in discontinued operations | (5,940 | ) | (6,779 | ) | ||||
Net cash provided by discontinued operations | 166 | 14,454 | ||||||
Increase in cash and cash equivalents | 2,656 | 1,027 | ||||||
Cash and cash equivalents, beginning of period | 13,447 | 12,420 | ||||||
Cash and cash equivalents, end of period | $ | 16,103 | $ | 13,447 | ||||