McKesson 2006 Annual Report Download - page 62

Download and view the complete annual report

Please find page 62 of the 2006 McKesson annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 115

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115

McKESSON CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
See Financial Notes
57
Years Ended March 31,
2006 2005 2004
O
p
eratin
g
Activities
Net income (loss) $ 751 $ (157) $ 647
Adjustments to reconcile to net cash provided by (used in) operating activities:
Depreciation 111 109 103
Amortization 155 140 127
Provision for bad debts 13 16 54
Securities Litigation charges, net 45 1,200
—
Notes receivable reserve (9) (6) 21
Customer settlement reserve reversal — (4)(66)
Deferred taxes 403 (329) 69
Other non-cash items 8 (1) 18
Total 1,477 968 973
Effects of changes in:
Receivables (525) (323) (719)
Inventories 578 (720)(681)
Drafts and accounts payable 1,110 1,312 834
Deferred revenue 379 89 81
Taxes (53) 113 62
Securities Litigation settlement payments (243) — —
Proceeds from sale of notes receivable 60 59 45
Other (39) 40
—
Total 1,267 570 (378)
Net cash provided by operating activities 2,744 1,538 595
Investin
g
Activities
Property acquisitions (167) (136) (112)
Capitalized software expenditures (160) (136) (171)
Acquisitions of businesses, less cash and cash equivalents acquired (603) (109)(49)
Proceeds from sale of businesses 63 12
—
Restricted cash (962) —
—
Other 4 14 32
Net cash used in investing activities (1,825) (355)(300)
Financin
g
Activities
Repayment of debt (24) (268)(17)
Capital stock transactions:
Issuances 568 223 93
Share repurchases (958) — (157)
ESOP notes and guarantees 12 16 9
Dividends paid (73) (70) (70)
Other (102) 8 33
Net cash used in financing activities (577) (91) (109)
Net increase in cash and cash equivalents 342 1,092 186
Cash and cash equivalents at beginning of year 1,800 708 522
Cash and cash equivalents at end of year $2,142 $ 1,800 $708
Su
pp
lemental Information:
Cash paid for:
Interes
t
$ 100 $ 126 $ 120
Income taxes 84 132 138
Non-cash transaction:
Common stock issued in conjunction with redemption of long-term debt $196 $ — $
—