HCA Holdings 2012 Annual Report Download - page 115

HCA HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010
(Dollars in millions)
2012 2011 2010
Cash flows from operating activities:
Net income ..................................................... $ 2,006 $ 2,842 $ 1,573
Adjustments to reconcile net income to net cash provided by operating
activities:
Increase (decrease) in cash from operating assets and liabilities:
Accounts receivable ........................................ (3,896) (3,248) (2,789)
Inventories and other assets .................................. (122) (18) (287)
Accounts payable and accrued expenses ........................ 355 313 229
Provision for doubtful accounts ................................... 3,770 2,824 2,648
Depreciation and amortization .................................... 1,679 1,465 1,421
Income taxes .................................................. 96 912 27
Gains on sales of facilities ....................................... (15) (142) (4)
Legal claim costs .............................................. 175 ——
Gain on acquisition of controlling interest in equity investment .......... —(1,522) —
Impairments of long-lived assets .................................. —— 123
Losses on retirement of debt ..................................... —481 —
Amortization of deferred loan costs ................................ 62 70 81
Share-based compensation ....................................... 56 26 32
Pay-in-kind interest ............................................ —(78) —
Other ........................................................ 9831
Net cash provided by operating activities ....................... 4,175 3,933 3,085
Cash flows from investing activities:
Purchase of property and equipment ................................. (1,862) (1,679) (1,325)
Acquisition of hospitals and health care entities ........................ (258) (1,682) (233)
Disposal of hospitals and health care entities .......................... 30 281 37
Change in investments ............................................ 16 80 472
Other .......................................................... 11 510
Net cash used in investing activities ........................... (2,063) (2,995) (1,039)
Cash flows from financing activities:
Issuances of long-term debt ........................................ 4,850 5,500 2,912
Net change in revolving bank credit facilities .......................... (685) (449) 1,889
Repayment of long-term debt ....................................... (2,441) (6,640) (2,268)
Distributions to noncontrolling interests .............................. (401) (378) (342)
Contributions from noncontrolling interests ........................... ——57
Payment of debt issuance costs ..................................... (62) (92) (50)
Issuance of common stock ......................................... —2,506 —
Repurchase of common stock ...................................... —(1,503) —
Distributions to stockholders ....................................... (3,148) (31) (4,257)
Income tax benefits .............................................. 174 63 114
Other .......................................................... (67) 48 (2)
Net cash used in financing activities ........................... (1,780) (976) (1,947)
Change in cash and cash equivalents ..................................... 332 (38) 99
Cash and cash equivalents at beginning of period ........................... 373 411 312
Cash and cash equivalents at end of period ................................ $ 705 $ 373 $ 411
Interest payments .................................................... $ 1,723 $ 1,987 $ 1,994
Income tax (refunds) payments, net ...................................... $ 618 $ (256) $ 517
The accompanying notes are an integral part of the consolidated financial statements.
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