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Express Scripts 2014 Annual Report
100
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, 2012
Netcashflowsprovidedby(usedin)
operatingactivities $(147.3) $ 655.1 $3,355.4 $916.7 $1.7 $—$4,781.6
Cashflowsfrominvestingactivities:
Purchasesofpropertyandequipment — (70.0)— (85.9)(4.3)— (160.2)
Acquisitions,netofcashacquired (10,283.6)— — — (42.4)— (10,326.0)
Proceedsfromthesaleofbusiness — 31.5 30.0 — — — 61.5
Other — (5.0)— — 1.0 — (4.0)
Netcash(usedin)providedbyinvesting
activities–continuingoperations (10,283.6)(43.5)30.0 (85.9)(45.7)— (10,428.7)
Acquisitions,cashacquired–
discontinuedoperations — — — — 42.4 — 42.4
Netcashusedininvestingactivities–
discontinuedoperations — — — (3.8)(1.6)— (5.4)
Netcash(usedin)providedbyinvesting
activities (10,283.6)(43.5)30.0 (89.7)(4.9)— (10,391.7)
Cashflowsfromfinancingactivities:
Repaymentoflong-termdebt (1,368.4)(1,000.1)(1,500.0)— — — (3,868.5)
Proceedsfromlong-termdebt,netof
discounts 7,458.9 — — — — — 7,458.9
Netproceedsfromemployeestock
plans 295.2 — 30.8 — — — 326.0
Excesstaxbenefitrelatingto
employeestock-basedcompensation — 37.2 8.1 — — — 45.3
Distributionspaidtonon-controlling
interest — — — — (8.1)— (8.1)
Deferredfinancingfees (52.4)(50.8)— — — — (103.2)
Repaymentofrevolvingcreditline,
net — — (1,000.0)— — — (1,000.0)
Proceedsfromaccountsreceivable
financingfacility — — — — 600.0 — 600.0
Repaymentofaccountsreceivable
financingfacility — — — — (600.0)— (600.0)
Netintercompanytransactions 4,097.6 (2,773.5)(924.3)(705.5)305.7 — —
Netcashprovidedby(usedin)
financingactivities—continuing
operations 10,430.9 (3,787.2)(3,385.4)(705.5)297.6 — 2,850.4
Netcashusedinfinancingactivities—
discontinuedoperations — — — — (26.8)— (26.8)
Netcashprovidedby(usedin)
financingactivities 10,430.9 (3,787.2)(3,385.4)(705.5)270.8 — 2,823.6
Effectofforeigncurrencytranslation
adjustment — — — — 2.0 — 2.0
Lesscashincreaseattributableto
discontinuedoperations — — — — (42.5)— (42.5)
Net(decrease)increaseincashandcash
equivalents — (3,175.6)— 121.5 227.1 — (2,827.0)
Cashandcashequivalentsatbeginning
ofyear — 5,522.2 — 5.4 92.5 — 5,620.1
Cashandcashequivalentsatendof
year $—$2,346.6 $—$126.9 $319.6 $—$2,793.1
96