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85 Express Scripts 2015 Annual Report
Condensed Consolidating Statement of Cash Flows
(in millions)
Express
Scripts
Holding
Company
Express
Scripts, Inc.
Medco
Health
Solutions,
Inc. Guarantors
Non-
Guarantors Eliminations Consolidated
For the year ended December 31, 2013
Net cash flows provided by (used in)
operating activities $ (214.1) $ 2,727.7 $ 765.9 $ 559.6 $ 929.1 $ (10.7) $ 4,757.5
Cash flows from investing activities:
Purchases of property and
equipment — (398.3) — (16.5) (8.2) — (423.0)
Proceeds from the sale of
business — 1.6 — 355.3 — — 356.9
Other, net — 14.0 — — (17.9) — (3.9)
Net cash (used in) provided by
investing activities – continuing
operations — (382.7) — 338.8 (26.1) — (70.0)
Net cash used in investing activities
– discontinued operations — — — — (2.1) — (2.1)
Net cash (used in) provided by
investing activities — (382.7) — 338.8 (28.2) — (72.1)
Cash flows from financing activities:
Treasury stock acquired (4,055.2) — — — — — (4,055.2)
Repayment of long-term debt (631.6) (1,000.0) (300.0) — — — (1,931.6)
Net proceeds from employee
stock plans 466.0 — — — — — 466.0
Excess tax benefit relating to
employee stock-based
compensation — 26.6 16.1 — — — 42.7
Other, net — — — (13.0) (3.7) — (16.7)
Net intercompany transactions 4,434.9 (2,572.3) (478.4) (968.3) (415.9) — —
Net cash (used in) provided by
financing activities—continuing
operations 214.1 (3,545.7) (762.3) (981.3) (419.6) — (5,494.8)
Net cash used in financing activities
— discontinued operations — — — — (10.7) 10.7 —
Net cash (used in) provided by
financing activities 214.1 (3,545.7) (762.3) (981.3) (430.3) 10.7 (5,494.8)
Effect of foreign currency translation
adjustment — — — — (5.7) — (5.7)
Less cash decrease attributable to
discontinued operations — — — — 13.4 — 13.4
Net (decrease) increase in cash and
cash equivalents — (1,200.7) 3.6 (82.9) 478.3 — (801.7)
Cash and cash equivalents at
beginning of year — 2,346.6 — 126.9 319.6 — 2,793.1
Cash and cash equivalents at end of
year $ — $ 1,145.9 $ 3.6 $ 44.0 $ 797.9 $ — $ 1,991.4
15. Subsequent event
In January 2016, we settled the 2015 ASR Agreement and received 9.1 million additional shares, resulting in a total of
64.2 million shares received under the 2015 ASR Agreement. See Note 8 - Common stock for further discussion regarding the
2015 ASR Agreement.