Quest Diagnostics 2009 Annual Report Download - page 112

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Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2008
Parent
Subsidiary
Guarantors
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Cash flows from operating activities:
Net income ................................. $ 581,490 $ 291,203 $ 66,747 $(326,245) $ 613,195
Adjustments to reconcile net income to net
cash provided by (used in) operating
activities:
Depreciation and amortization ............. 53,116 193,975 17,502 - 264,593
Provision for doubtful accounts ............ 11,261 106,804 208,163 - 326,228
Provision for special charges .............. - 72,650 - - 72,650
Other, net ................................ (279,394) 56,698 (21,067) 326,245 82,482
Changes in operating assets and liabilities . . 462,768 (470,560) (288,307) - (296,099)
Net cash provided by (used in) operating
activities. ................................. 829,241 250,770 (16,962) - 1,063,049
Net cash (used in) provided by investing
activities. ................................. (144,149) (149,004) 14,137 80,133 (198,883)
Net cash used in financing activities . . . ...... (578,137) (109,898) (9,646) (80,133) (777,814)
Net change in cash and cash equivalents ..... 106,955 (8,132) (12,471) - 86,352
Cash and cash equivalents, beginning of year . 111,610 14,847 41,137 - 167,594
Cash and cash equivalents, end of year. ...... $ 218,565 $ 6,715 $ 28,666 $ - $ 253,946
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 $ 98,409 $ (81,849) $ 366,449
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 special charges . ........... - 238,781 - - 238,781
Other, net . ............................. (64,298) 37,970 (5,914) 81,849 49,607
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
F-42
QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
(dollars in thousands unless otherwise indicated)