Quest Diagnostics 2005 Annual Report Download - page 113

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QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
(dollars in thousands unless otherwise indicated)
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2004
Non-
Subsidiary Guarantor
Parent Guarantors Subsidiaries Eliminations Consolidated
Cash flows from operating activities:
Net income .............................. $ 499,195 $ 153,102 $ 48,874 $(201,976) $ 499,195
Adjustments to reconcile net income to net
cash provided by (used in) operating
activities:
Depreciation and amortization ........... 56,399 101,856 10,471 - 168,726
Provision for doubtful accounts ......... 4,940 43,638 177,732 - 226,310
Other, net ............................. (71,374) 1,754 16,847 201,976 149,203
Changes in operating assets and
liabilities ............................ 163,057 (118,129) (289,582) - (244,654)
Net cash provided by (used in) operating
activities............................... 652,217 182,221 (35,658) - 798,780
Net cash used in investing activities ....... (150,826) (105,597) (7,841) 90,564 (173,700)
Net cash provided by (used in) financing
activities............................... (586,555) (72,557) 42,940 (90,564) (706,736)
Net change in cash and cash equivalents. . . (85,164) 4,067 (559) - (81,656)
Cash and cash equivalents, beginning of
year ................................... 141,588 1,991 11,379 - 154,958
Cash and cash equivalents, end of year .... $ 56,424 $ 6,058 $ 10,820 $ - $ 73,302
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2003
Non-
Subsidiary Guarantor
Parent Guarantors Subsidiaries Eliminations Consolidated
Cash flows from operating activities:
Net income .............................. $ 436,717 $ 99,808 $ 43,786 $(143,594) $ 436,717
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization ........... 53,611 91,501 8,791 - 153,903
Provision for doubtful accounts ......... 4,944 64,835 158,443 - 228,222
Other, net ............................. (78,968) 2,463 18,604 143,594 85,693
Changes in operating assets and
liabilities ............................ 54,277 (178,027) (117,986) - (241,736)
Net cash provided by operating activities . . . 470,581 80,580 111,638 - 662,799
Net cash used in investing activities ....... (271,820) (96,957) (17,342) (30,931) (417,050)
Net cash provided by (used in) financing
activities............................... (136,188) 10,991 (93,302) 30,931 (187,568)
Net change in cash and cash equivalents. . . 62,573 (5,386) 994 - 58,181
Cash and cash equivalents, beginning of
year ................................... 79,015 7,377 10,385 - 96,777
Cash and cash equivalents, end of year .... $ 141,588 $ 1,991 $ 11,379 $ - $ 154,958
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