Quest Diagnostics 2008 Annual Report Download - page 115

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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, 2007
Parent
Subsidiary
Guarantors
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Cash flows from operating activities:
Net income. . ............................. $ 339,939 $ 9,950 $ 71,899 $ (81,849) $ 339,939
Adjustments to reconcile net income to net
cash provided by (used in) operating
activities:
Depreciation and amortization ........... 50,726 170,344 16,809 - 237,879
Provision for doubtful accounts.......... 11,219 83,240 205,767 - 300,226
Provision for restructuring and other
special charges . . . .................... - 238,781 - - 238,781
Other, net . . . ............................. (64,298) 37,970 20,596 81,849 76,117
Changes in operating assets and liabilities . . 634,379 (200,171) (700,226) - (266,018)
Net cash provided by (used in) operating
activities . . ............................. 971,965 340,114 (385,155) - 926,924
Net cash used in investing activities ....... (2,200,512) (1,334,217) (316,554) 2,092,090 (1,759,193)
Net cash provided by financing activities . . 1,205,559 1,001,289 735,465 (2,092,090) 850,223
Net change in cash and cash equivalents . . . (22,988) 7,186 33,756 - 17,954
Cash and cash equivalents, beginning of
year ................................... 134,598 7,661 7,381 - 149,640
Cash and cash equivalents, end of year . . . . $ 111,610 $ 14,847 $ 41,137 $ - $ 167,594
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2006
Parent
Subsidiary
Guarantors
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Cash flows from operating activities:
Net income ................................. $ 586,421 $ 144,861 $ 113,742 $(258,603) $ 586,421
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization ............. 46,674 140,103 10,621 - 197,398
Provision for doubtful accounts ............ 5,934 51,258 186,251 - 243,443
Provision for restructuring and other special
charges................................. - 47,868 7,920 - 55,788
Other, net ................................ (316,207) 55,233 22,948 258,603 20,577
Changes in operating assets and liabilities . . 200,269 (129,327) (222,673) - (151,731)
Net cash provided by operating activities ..... 523,091 309,996 118,809 - 951,896
Net cash used in investing activities.......... (13,177) (120,444) (9,748) (271,033) (414,402)
Net cash used in financing activities . . . ...... (452,257) (186,650) (112,110) 271,033 (479,984)
Net change in cash and cash equivalents ..... 57,657 2,902 (3,049) - 57,510
Cash and cash equivalents, beginning of year . 76,941 4,759 10,430 - 92,130
Cash and cash equivalents, end of year. ...... $ 134,598 $ 7,661 $ 7,381 $ - $ 149,640
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