Quest Diagnostics 2006 Annual Report Download - page 125

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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, 2005
Parent
Subsidiary
Guarantors
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Cash flows from operating activities:
Net income .............................. $ 546,277 $ 168,221 $ 58,606 $(226,827) $ 546,277
Adjustments to reconcile net income to
net cash provided by operating
activities:
Depreciation and amortization .......... 51,943 113,506 10,675 - 176,124
Provision for doubtful accounts ......... 5,659 43,669 184,300 - 233,628
Other, net ............................. (203,458) 33,809 20,511 226,827 77,689
Changes in operating assets and
liabilities ............................ 174,884 (214,707) (142,312) - (182,135)
Net cash provided by operating activities . . 575,305 144,498 131,780 - 851,583
Net cash used in investing activities....... (1,020,236) (176,202) (15,243) 131,888 (1,079,793)
Net cash provided by (used in) financing
activities .............................. 465,448 30,405 (116,927) (131,888) 247,038
Net change in cash and cash equivalents . . 20,517 (1,299) (390) - 18,828
Cash and cash equivalents, beginning of
year ................................... 56,424 6,058 10,820 - 73,302
Cash and cash equivalents, end of year. . . . $ 76,941 $ 4,759 $ 10,430 $ - $ 92,130
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2004
Parent
Subsidiary
Guarantors
Non-
Guarantor
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
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