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Express Scripts 2014 Annual Report
98
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, 2014
Netcashflowsprovidedby(usedin)
operatingactivities $(123.2) $ 748.7 $2,365.9 $1,167.5 $390.1 $—$4,549.0
Cashflowsfrominvestingactivities:
Purchasesofpropertyandequipment — (325.1)— (106.0)(5.5)— (436.6)
Acquisitions,netofcashacquired — — — — 2.2 — 2.2
Other — 9.0 — 0.1 13.4 — 22.5
Netcash(usedin)providedbyinvesting
activities — (316.1)— (105.9)10.1 — (411.9)
Cashflowsfromfinancingactivities:
Treasurystockacquired (4,493.0)— — — — — (4,493.0)
Repaymentoflong-termdebt (2,834.2)(0.1)— — — — (2,834.3)
Proceedsfromlong-termdebt,netof
discounts 2,490.1 — — — — — 2,490.1
Netproceedsfromemployeestock
plans 510.5 — — — — — 510.5
Excesstaxbenefitrelatingto
employeestock-basedcompensation — 44.5 49.5 — — — 94.0
Distributionspaidtonon-controlling
interest — — — — (24.8)— (24.8)
Deferredfinancingfees (18.6)— — — — — (18.6)
Other — — — (13.6)— — (13.6)
Netintercompanytransactions 4,468.4 (666.9)(2,418.5)(1,078.3)(304.7)— —
Netcash(usedin)providedby
financingactivities 123.2 (622.5)(2,369.0)(1,091.9)(329.5)— (4,289.7)
Effectofforeigncurrencytranslation
adjustment — — — — (6.2)— (6.2)
Net(decrease)increaseincashandcash
equivalents — (189.9)(3.1)(30.3)64.5 — (158.8)
Cashandcashequivalentsatbeginning
ofyear — 1,145.9 3.6 44.0 797.9 — 1,991.4
Cashandcashequivalentsatendof
year $—$956.0 $0.5 $13.7 $862.4 $—$1,832.6
94