Cardinal Health 2010 Annual Report Download - page 84

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The following table summarizes amortization expense during fiscal 2010, 2009 and 2008
:
F
iscal Year Ended
J
une
30,
(
in millions
)
2010
2009
2008
Amort
i
zat
i
on expens
e
......................................................
$11.2 $15.0 $12.0
A
mortization expense for each of the next five fiscal
y
ears is estimated to be
:
(
in millions
)
2011
2012
2013
2014
201
5
Amortization ex
p
ens
e
.............................................
$
10.8 $5.7 $3.3 $2.9 $2.
6
7
. INVE
S
TMENT IN CAREFU
S
IO
N
T
h
e
f
o
ll
ow
i
n
g
ta
bl
e prov
id
es a summar
y
o
f
our
i
nvestment
i
n CareFus
i
on, w
hi
c
hi
sc
l
ass
ifi
e
d
as
ava
il
a
bl
e-
f
or-sa
l
e
,
as o
f
June 30
,
2010:
A
vailable-for-
S
ale
S
ecuritie
s
(
in millions
)
C
ost
(
2
)
Gross
U
nreal
i
ze
d
G
a
i
n
s
G
ros
s
U
nreal
i
zed
L
osses
E
s
tim
a
t
ed
Fair
V
a
l
ue
Equ
i
t
y
secur
i
t
i
es (1)
......................................
$
630.3 $61.2 $0.0 $691.
5
Tota
l
..................................................
$
630.3
$
61.2
$
0.0
$
691.
5
(1) Equit
y
securities consist of our remainin
g
ownership of 30.5 million shares of the 41.4 million shares o
f
CareFusion common stock that we held immediatel
y
after the Spin-Off. These securities are stated at fai
r
value with unrealized
g
ains and losses reported in other comprehensive income. Realized
g
ains and losse
s
and declines in fair value deemed to be other-than-temporar
y
are reco
g
nized in net earnin
g
s immediatel
y
.
Durin
g
fiscal 2010, we disposed of 10.9 million shares of CareFusion common stock, resultin
g
in cas
h
proceeds of $270.7 million and a pre-tax realized
g
ain of $44.6 million.
(2) Represents our cost investment in the net book value of CareFusion’s assets immediatel
y
followin
g
the
S
pin-Off ad
j
usted for the sale of securities durin
g
fiscal 2010.
8. LONG-TERM OBLIGATION
S
AND OTHER
S
HORT-TERM BORROWING
S
L
ong-term o
bli
gat
i
ons an
d
ot
h
er s
h
ort-term
b
orrow
i
ngs cons
i
st o
f
t
h
e
f
o
ll
ow
i
ng as o
f
June 30, 2010 an
d
2009
:
J
une 30
,
(
in millions
)
201
0
200
9
4.
00
% Notes due 2
0
1
5
.
.....................................................
$
5
34.7
$
523.8
5
.
5
0% Notes due 201
3
......................................................
30
5
.1 300.0
5
.65% Notes due 201
2
.
..................................................... 216.1 317.1
5
.80% Notes due 2016
.
..................................................... 308.9 526.4
5
.85% Notes due 201
7
.
..................................................... 158.0 500.0
6.00% Notes due 201
7
.
..................................................... 213.1 350.4
6.75% Notes due 201
1
.
..................................................... 218.7 494.
6
7
.80% Debentures due 2016 .................................................
.
4
4.1 75.
7
7
.00% Debentures due 2026
..................................................
124.5 192.0
F
l
oat
i
ng Rate Notes
d
ue 200
9
................................................. 0.0 350.0
Ot
h
er o
blig
at
i
on
s
...........................................................
6
.1 7.
8
T
ota
l
....................................................................
$2,129.3 $3,637.8
Less: current port
i
on an
d
ot
h
er s
h
ort-term
b
orrow
i
n
gs
..............................
2
33
.2
366
.2
Long-term obligations, less current portion
......................................
$
1,896.1
$
3,271.
6
58