|
CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED (USD $)
In Thousands, unless otherwise specified
|
9 Months Ended |
|
Sep. 30, 2014
|
Sep. 30, 2013
|
| Cash flows from operating activities: |
|
|
| Net income (loss) |
$ 150,576 |
$ 40,264 |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest |
42,385 |
(13,999) |
| Adjustments to reconcile net income to net cash flows from operating activities: |
|
|
| Depreciation expense |
43,010 |
41,643 |
| Amortization expense |
57,419 |
57,884 |
| Gains (Losses) on Extinguishment of Debt |
8,419 |
55,652 |
| Gain (Loss) on Disposition of Business |
805 |
36,062 |
| Gale settlement payment, net |
(120,000) |
0 |
| Changes in assets and liabilities, net of effects from acquisition and divestiture of businesses: |
|
|
| Accounts receivable, net of provision for doubtful accounts |
15,848 |
70,107 |
| Inventories |
17,807 |
(37,573) |
| Other current and noncurrent assets |
(20,853) |
5,897 |
| Accounts payable |
58,399 |
22,717 |
| Accrued employee compensation |
6,389 |
(17,196) |
| Current and noncurrent liabilities |
94,350 |
194,528 |
| Net cash flows from operating activities of continuing operations |
354,554 |
455,986 |
| Net cash flows from operating activities of discontinued operations |
863 |
(1,321) |
| Net cash flows from operating activities |
355,417 |
454,665 |
| Cash flows from investing activities: |
|
|
| Acquisition of businesses, net of cash received |
0 |
3,798 |
| Proceeds from Divestiture of Businesses |
71,194 |
11,083 |
| Capital expenditures |
(67,871) |
(73,279) |
| Payments for (Proceeds from) Other Investing Activities |
18 |
(441) |
| Net cash flows used in investing activities of continuing operations |
3,305 |
(65,553) |
| Net cash flows used in investing activities of discontinued operations |
(863) |
(848) |
| Net cash flows used in investing activities |
2,442 |
(66,401) |
| Cash flows from financing activities: |
|
|
| Payments on Term Loans |
(15,938) |
(15,938) |
| Payments on long-term borrowings and obligations |
(176,983) |
(190,403) |
| Payments of Debt Issuance Costs |
0 |
4,851 |
| Increase (decrease) in cash overdraft balance |
(19,786) |
(11,490) |
| Payments for Omnicare common stock repurchases |
(160,438) |
(91,259) |
| Proceeds for stock awards and exercise of stock options, net of stock tendered in payment |
(293) |
17,934 |
| Dividends paid |
(58,419) |
(43,011) |
| Other |
4,940 |
2,228 |
| Net Cash Provided by (Used in) Financing Activities |
(426,917) |
(336,790) |
| Net increase (decrease) in cash and cash equivalents |
(69,058) |
51,474 |
| Increase (decrease) in cash and cash equivalents of discontinued operations |
0 |
(2,169) |
| Increase (decrease) in cash and cash equivalents of continuing operations |
(69,058) |
53,643 |
| Cash and cash equivalents at beginning of period |
356,001 |
444,620 |
| Cash and cash equivalents at end of period |
$ 286,943 |
$ 498,263 |