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Statement of Cash Flows

Difficulty: Beginner

The cash flow statement provides information about a company's cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company's statement of financial position.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Express Scripts Holding Co., Consolidated Statement of Cash Flows

USD $ in thousands

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12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Net income 4,531,700  3,427,600  2,499,500  2,035,000  1,872,700 
Net loss from discontinued operations, net of tax 53,600 
Net income from continuing operations 4,531,700  3,427,600  2,499,500  2,035,000  1,926,300 
Depreciation and amortization 1,802,000  2,154,600  2,359,100  2,242,900  2,447,000 
Deferred income taxes (1,678,900) (497,400) (462,100) (430,500) (573,700)
Employee stock-based compensation expense 99,600  107,000  117,100  111,000  164,700 
Other, net 43,300  (36,200) (46,300) (8,300) 29,200 
Receivables 55,900  (374,000) (770,300) (2,042,400) 1,254,000 
Inventories (166,700) 64,100  90,100  (242,100) (218,900)
Other current and noncurrent assets (172,500) (137,500) 78,300  (170,000) 94,200 
Claims and rebates payable 1,114,900  (560,800) 909,500  1,720,400  (672,200)
Accounts payable (126,800) 436,400  318,300  271,700  15,900 
Accrued expenses (241,700) 404,200  (142,700) 948,900  450,800 
Other current and noncurrent liabilities 90,500  (68,600) (102,200) 112,400  (148,400)
Changes in operating assets and liabilities 553,600  (236,200) 381,000  598,900  775,400 
Adjustments to reconcile net income to net cash provided by operating activities 819,600  1,491,800  2,348,800  2,514,000  2,842,600 
Net cash flows provided by operating activities 5,351,300  4,919,400  4,848,300  4,549,000  4,768,900 
Acquisitions, net of cash acquired (3,501,100)
Capital expenditures for property and equipment and computer software (267,400) (330,400) (295,900) (436,600) (423,000)
Net cash proceeds from the sale of business 85,300  356,900 
Other, net (7,400) (21,500) 27,400  24,700  (3,900)
Net cash used in investing activities (3,690,600) (351,900) (268,500) (411,900) (70,000)
Treasury stock acquired (2,938,000) (4,746,900) (5,500,000) (4,493,000) (4,055,200)
Proceeds from long-term debt, net of discounts 1,398,900  5,986,800  5,500,000  2,490,100 
Repayment of long-term debt (1,125,000) (5,932,500) (3,390,800) (2,834,300) (1,931,600)
Commercial paper borrowings, net 194,800 
Net proceeds from employee stock plans 81,000  87,200  183,100  510,500  466,000 
Excess tax benefit relating to employee stock-based compensation 13,000  58,200  94,000  42,700 
Other, net (44,900) (85,400) (67,500) (57,000) (16,700)
Net cash used in financing activities (2,433,200) (4,677,800) (3,217,000) (4,289,700) (5,494,800)
Net cash used in operating activities, discontinued operations (11,400)
Net cash used in investing activities, discontinued operations (2,100)
Net cash used in discontinued operations (13,500)
Effect of foreign currency translation adjustment 4,900  1,200  (9,100) (6,200) (5,700)
Cash (increase) decrease attributable to discontinued operations 13,400 
Net increase (decrease) in cash and cash equivalents (767,600) (109,100) 1,353,700  (158,800) (801,700)
Cash and cash equivalents at beginning of year 3,077,200  3,186,300  1,832,600  1,991,400  2,793,100 
Cash and cash equivalents at end of year 2,309,600  3,077,200  3,186,300  1,832,600  1,991,400 
Source: Express Scripts Holding Co., Annual Reports
Item Description The company
Net cash flows provided by operating activities The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Express Scripts Holding Co.'s net cash flows provided by operating activities increased from 2015 to 2016 and from 2016 to 2017.