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Express Scripts 2012 Annual Report102
Condensed Consolidating Statement of Cash Flows
(in millions)
Express
Scripts
Holding
Company
Express
Scripts, Inc.
Medco
Health
Solutions,
Inc.
Guarantors
Non-
Guarantors
Consolidated
For the year ended December 31, 2012
Net cash flows provided by operating
activities
$
(147.3)
$
655.1
$
3,355.4
$
917.5
$
0.9
$
4,781.6
Cash flows from investing activities:
Acquisitions, net of cash acquired
(10,283.6)
-
-
-
(42.8)
(10,326.4)
Purchases of property and equipment
-
(70.0)
-
(85.9)
(4.3)
(160.2)
Proceeds from the sale of business
-
31.5
30.0
-
-
61.5
Other
-
(5.0)
-
-
1.0
(4.0)
Net cash (used in) provided by investing
activities – continuing operations
(10,283.6)
(43.5)
30.0
(85.9)
(46.1)
(10,429.1)
Acquisitions, cash acquired – discontinued
operations
-
-
-
-
42.8
42.8
Net cash used in investing activities –
discontinued operations
-
-
-
(3.8)
(1.6)
(5.4)
Net cash (used in) provided by investing
activities
(10,283.6)
(43.5)
30.0
(89.7)
(4.9)
(10,391.7)
Cash flows from financing activities:
Proceeds from long-term debt, net of
discounts
7,458.9
-
-
-
-
7,458.9
Repayment of long-term debt
(1,368.4)
(1,000.1)
(1,500.0)
-
-
(3,868.5)
Repayment of revolving credit line, net
-
-
(1,000.0)
-
-
(1,000.0)
Proceeds from accounts receivable
financing facility
-
-
-
-
600.0
600.0
Repayment of accounts receivable
financing facility
-
-
-
-
(600.0)
(600.0)
Excess tax benefit relating to employee
stock-based compensation
-
37.2
8.1
-
-
45.3
Net proceeds from employee stock
plans
295.2
-
30.8
-
-
326.0
Deferred financing fees
(52.4)
(50.8)
-
-
-
(103.2)
Distributions paid to non-controlling
interest
-
-
-
-
(8.1)
(8.1)
Net intercompany transactions
4,097.6
(2,773.5)
(924.3)
(705.5)
305.7
-
Net cash provided by (used in) financing
activities
10,430.9
(3,787.2)
(3,385.4)
(705.5)
297.6
2,850.4
Net cash used in financing activities –
discontinued operations
-
-
-
-
(26.8)
(26.8)
Net cash provided by (used in) financing
activities
10,430.9
(3,787.2)
(3,385.4)
(705.5)
270.8
2,823.6
Effect of foreign currency translation
adjustment
-
-
-
-
2.0
2.0
Less cash attributable to discontinued
operations
-
-
-
-
(41.7)
(41.7)
Net (decrease) increase in cash and cash
equivalents
-
(3,175.6)
-
122.3
227.1
(2,826.2)
Cash and cash equivalents at beginning of
year
-
5,522.2
-
5.4
92.5
5,620.1
Cash and cash equivalents at end of year
$
-
$
2,346.6
$
-
$
127.7
$
319.6
$
2,793.9