CVS 2004 Annual Report Download - page 33
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Please find page 33 of the 2004 CVS annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.fiscal year ended
JAN.1,JAN.3,DEC.28,
2005 2004 2002
In millions (52 WEEKS)(53 WEEKS)(52 WEEKS)
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash receipts from sales $30,545.8 $ 26,276.9 $ 24,128.4
Cash paid for inventory (22,469.2) (19,262.9) (17,715.1)
Cash paid to other suppliers and employees (6,528.5) (5,475.5) (4,832.5)
Interest and dividends received 5.7 5.7 4.1
Interest paid (70.4) (64.9) (60.6)
Income taxes paid (569.2) (510.4) (319.5)
NET CASH PROVIDED BY OPERATING ACTIVITIES 914.2 968.9 1,204.8
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property and equipment (1,347.7) (1,121.7) (1,108.8)
Proceeds from sale-leaseback transactions 496.6 487.8 448.8
Acquisitions, net of cash and investments (2,293.7) (133.1) (93.5)
Cash outflow from hedging activities (32.8) — —
Proceeds from sale or disposal of assets 14.3 13.4 17.7
NET CASH USED IN INVESTING ACTIVITIES (3,163.3) (753.6) (735.8)
CASH FLOWS FROM FINANCING ACTIVITIES:
Reductions in long-term debt (301.5) (0.8) (3.1)
Additions to long-term debt 1,204.1 — 300.0
Proceeds from exercise of stock options 129.8 38.3 34.0
Dividends paid (119.8) (105.2) (104.9)
Purchase of treasury shares ———
Additions to/(reductions in) short-termdebt 885.6 (4.8) (230.9)
NET CASH PROVIDED BY (USED IN)FINANCING ACTIVITIES 1,798.2 (72.5) (4.9)
Net (decrease) increase in cash and cash equivalents (450.9) 142.8 464.1
Cash and cash equivalents at beginning of year 843.2 700.4 236.3
CASH AND CASH EQUIVALENTS AT END OF YEAR $392.3 $843.2 $700.4
RECONCILIATION OF NET EARNINGS TO NET CASH PROVIDED BY OPERATING ACTIVITIES:
Net earnings $918.8 $ 847.3 $ 716.6
Adjustments required to reconcile net earnings to net cash
provided by operating activities:
Depreciation and amortization 496.8 341.7 310.3
Deferred income taxes and other non-cash items (23.6) 41.1 71.8
Change in operating assets and liabilities providing/(requiring) cash, net of
effects from acquisitions:
Accounts receivable, net (48.4) (311.1) (53.1)
Inventories (509.8) 2.1 (95.3)
Other current assets 35.7 (3.0) 12.5
Other assets 8.5 (0.4) (35.3)
Accounts payable 109.4 (41.5) 172.0
Accrued expenses (144.2) 116.5 105.0
Other long-term liabilities 71.0 (23.8) 0.3
NET CASH PROVIDED BY OPERATING ACTIVITIES $914.2 $ 968.9 $ 1,204.8
See accompanying notes to consolidated financial statements.
Consolidated Statements of Cash Flows
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