| Cash Flow for Quest Diagnostics Inc. (DGX) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 339,939 | 586,421 | 546,277 | 499,195 | 436,717 | | Depreciation & Amortization | 237,879 | 197,398 | 176,124 | 168,726 | 153,903 | | Deferred Income Taxes | (1,575) | (46,280) | 661 | 52,451 | 33,853 | | Operating Losses | 34,820 | 44,072 | 310,656 | 323,062 | 281,645 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (265,347) | (273,232) | (238,421) | (266,404) | (254,865) | | Decrease in Inventories | - | - | - | - | - | | Decrease in Other Current Assets | - | - | - | - | - | | Increase in Payables | (5,431) | 81,347 | 36,038 | 22,336 | (6,795) | | Increase in Other Current Liabilities | 3,213 | 45,330 | 9,982 | (17,111) | 7,551 | | Decrease in Other Working Capital | 1,547 | (5,176) | 10,266 | 16,525 | - | | Other Non-Cash Items | 581,879 | 322,016 | - | - | 10,790 | | Net Cash from Continuing Operations | 926,924 | 951,896 | 851,583 | 798,780 | 662,799 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 926,924 | 951,896 | 851,583 | 798,780 | 662,799 | | | | Sale of Property, Plant, Equipment | - | - | 85 | 7,576 | 9,043 | | Sale of Short Term Investments | - | - | - | - | - | | | Purchase of Property, Plant, Equipment | (219,101) | (193,422) | (224,270) | (176,125) | (174,641) | | Acquisitions | (1,535,826) | (236,543) | (814,219) | - | (237,610) | | Purchase of Short Term Investments | (4,266) | - | - | - | - | | Other Investment Changes, Net | - | - | (41,389) | (5,151) | (13,842) | | Cash from Investing Activities | (1,759,193) | (414,402) | (1,079,793) | (173,700) | (417,050) | | | Issuance of Debt | 3,754,490 | 375,000 | 1,133,570 | 304,921 | 450,000 | | Issuance of Capital Stock | 80,928 | 102,324 | 98,335 | 109,116 | 29,887 | | | Repayment of Debt | (2,705,369) | (416,208) | (497,276) | (306,018) | (391,718) | | Repurchase of Capital Stock | (145,660) | (472,325) | (390,163) | (734,577) | (257,548) | | Payment of Cash Dividends | (77,327) | (77,135) | (69,673) | (61,387) | - | | Other Financing Charges, Net | (56,839) | 8,360 | (27,755) | (18,791) | (18,189) | | Cash from Financing Activities | 850,223 | (479,984) | 247,038 | (706,736) | (187,568) | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | 17,954 | 57,510 | 18,828 | (81,656) | 58,181 | | | Cash at Beginning of Year | 149,640 | 92,130 | 73,302 | 154,958 | 96,777 | | Cash at End of Period | 167,594 | 149,640 | 92,130 | 73,302 | 154,958 | | | |
