CVS 2006 Annual Report Download - page 36

Download and view the complete annual report

Please find page 36 of the 2006 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.

Page out of 57

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57

2006 Annual Report 33
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal Year Ended Fiscal Year Ended Fiscal Year Ended
In millions Dec. 30, 2006 (52 weeks) Dec. 31, 2005 (52 weeks) Jan. 1, 2005 (52 weeks)
Cash flows from operating activities:
Cash receipts from revenues $ 43,273.7 $ 36,923.1 $ 30,545.8
Cash paid for inventory (31,422.1) (26,403.9) (22,469.2)
Cash paid to other suppliers and employees (9,065.3) (8,186.7) (6,528.5)
Interest and dividends received 15.9 6.5 5.7
Interest paid (228.1) (135.9) (70.4)
Income taxes paid (831.7) (591.0) (569.2)
Net cash provided by operating activities 1,742.4 1,612.1 914.2
Cash flows from investing activities:
Additions to property and equipment (1,768.9) (1,495.4) (1,347.7)
Proceeds from sale-leaseback transactions 1,375.6 539.9 496.6
Acquisitions (net of cash acquired) and other investments (4,224.2) 12.1 (2,293.7)
Cash outflow from hedging activities (5.3) – (32.8)
Proceeds from sale or disposal of assets 29.6 31.8 14.3
Net cash used in investing activities (4,593.2) (911.6) (3,163.3)
Cash flows from financing activities:
Additions to/(reductions in) short-term debt 1,589.3 (632.2) 885.6
Dividends paid (140.9) (131.6) (119.8)
Proceeds from exercise of stock options 187.6 178.4 129.8
Excess tax benefits from stock-based compensation 42.6 – –
Additions to long-term debt 1,500.0 16.5 1,204.1
Reductions in long-term debt (310.5) (10.5) (301.5)
Net cash provided by (used in) financing activities 2,868.1 (579.4) 1,798.2
Net increase in cash and cash equivalents 17.3 121.1 (450.9)
Cash and cash equivalents at beginning of year 513.4 392.3 843.2
Cash and cash equivalents at end of year $ 530.7 $ 513.4 $ 392.3
Reconciliation of net earnings to net cash
provided by operating activities:
Net earnings $ 1,368.9 $ 1,224.7 $ 918.8
Adjustments required to reconcile net earnings
to net cash provided by operating activities:
Depreciation and amortization 733.3 589.1 496.8
Stock based compensation 69.9 – –
Deferred income taxes and other non-cash items 98.2 13.5 (23.6)
Change in operating assets and liabilities providing/
(requiring) cash, net of effects from acquisitions:
Accounts receivable, net (540.1) (83.1) (48.4)
Inventories (624.1) (265.2) (509.8)
Other current assets (21.4) (13.2) 35.7
Other assets (17.2) (0.1) 8.5
Accounts payable 396.7 192.2 109.4
Accrued expenses 328.9 (43.8) (144.2)
Other long-term liabilities (50.7) (2.0) 71.0
Net cash provided by operating activities $ 1,742.4 $ 1,612.1 $ 914.2
See accompanying notes to consolidated financial statements.