Exhibit 99.1 (a) 2
Pro Forma Combined Balance Sheet
November 28, 2003
Unaudited
(in thousands)
NDCHealth | ArcLight | Pro Forma Adjustments (a) | Pro Forma NDC Health | ||||||||||||
Assets | |||||||||||||||
Current assets: | |||||||||||||||
Cash and cash equivalents | $ | 38,584 | $ | 37,367 | $ | (35,384 | ) (1,2) | $ | 40,567 | ||||||
Accounts receivable, net | 73,031 | 23 | — | 73,054 | |||||||||||
Income tax receivable | 639 | — | — | 639 | |||||||||||
Deferred income taxes | 15,377 | — | — | 15,377 | |||||||||||
Prepaid expenses and other | 33,888 | 550 | 700 | (1) | 35,138 | ||||||||||
Total current assets | 161,519 | 37,940 | (34,684 | ) | 164,775 | ||||||||||
Property and equipment, net | 124,493 | 3,191 | — | 127,684 | |||||||||||
Intangible assets, net | 475,941 | 23,482 | (7,762 | ) (1,3,4,5) | 491,661 | ||||||||||
Deferred income taxes | 2,312 | — | — | 2,312 | |||||||||||
Debt issuance costs | 12,269 | — | — | 12,269 | |||||||||||
Investments | 17,345 | — | — | 17,345 | |||||||||||
Other | 13,757 | — | — | 13,757 | |||||||||||
Total assets of discontinued operations | — | 182 | (182 | ) (3) | — | ||||||||||
Total Assets | $ | 807,636 | $ | 64,795 | $ | (42,628 | ) | $ | 829,803 | ||||||
Liabilities and Shareholders’ Equity | |||||||||||||||
Current liabilities: | |||||||||||||||
Current portion of long-term debt | $ | 6,590 | $ | — | $ | — | $ | 6,590 | |||||||
Current portion of obligations under capital leases | 921 | — | — | 921 | |||||||||||
Accounts payable and accrued liabilities | 63,473 | 4,685 | 3,118 | (5) | 71,276 | ||||||||||
Distribution payable | — | 15,055 | (15,055 | ) (2) | �� | — | |||||||||
Accrued interest | 13,259 | — | — | 13,259 | |||||||||||
Deferred revenue | 37,042 | — | — | 37,042 | |||||||||||
Total current liabilities | 121,285 | 19,740 | (11,937 | ) | 129,088 | ||||||||||
Long-term debt | 319,598 | — | — | 319,598 | |||||||||||
Obligations under capital leases | 266 | — | — | 266 | |||||||||||
Deferred revenue | 12,049 | — | — | 12,049 | |||||||||||
Other long-term liabilities | 31,513 | — | — | 31,513 | |||||||||||
Total liabilities of discontinued operations | — | 599 | (599 | ) (3) | — | ||||||||||
Total liabilities | 484,711 | 20,339 | (12,536 | ) | 492,514 | ||||||||||
Commitments and contingencies | |||||||||||||||
Minority interest in equity of subsidiaries | 8,396 | — | — | 8,396 | |||||||||||
Shareholders’ equity: | |||||||||||||||
Preferred stock | — | — | — | — | |||||||||||
Common stock | 4,414 | — | 48 | (1) | 4,462 | ||||||||||
Capital in excess of par | 223,705 | — | 14,316 | (1) | 238,021 | ||||||||||
Members’ equity | — | 33,917 | (33,917 | ) (2) | — | ||||||||||
Retained earnings | 92,496 | 10,539 | (10,539 | ) (4) | 92,496 | ||||||||||
Deferred compensation and other | (7,731 | ) | — | — | (7,731 | ) | |||||||||
Other comprehensive income | 1,645 | — | — | 1,645 | |||||||||||
Total shareholders’ equity | 314,529 | 44,456 | (30,092 | ) | 328,893 | ||||||||||
Total Liabilities and Shareholders’ Equity | $ | 807,636 | $ | 64,795 | $ | (42,628 | ) | $ | 829,803 | ||||||
The accompanying notes are an integral part of this Pro Forma Combined Balance Sheet.