EXPRESS SCRIPTS HOLDING CO. ESRX Cash Flow

Express scripts holding co. (ESRX)

CashFlow / Yearly

Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10
Cash flows from operating activities:
Net income
4,531	3,427	2,499	2,035	1,872	1,330	1,278	1,181
Net loss from discontinued operations, net of tax
-	-	-	-	-53	-32	0	-23
Net income from continuing operations
-	-	-	-	1,926	1,362	1,278	1,204
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
1,802	2,154	2,359	2,242	2,447	1,871	253	244
Deferred income taxes
-1,678	-497	-462	-430	-573	-389	-137	110
Employee stock-based compensation expense
99	107	117	111	164	410	48	49
Bad debt expense
-	-	-	-	-	-	-	5
Deferred financing fees
-	-	-	-	-	-	-	5
Other, net
-43	36	46	8	-29	-70	-97	-9
Changes in operating assets and liabilities, net of effects of acquisition:
Receivables
-55	374	770	2,042	-1,254	-345	206	-793
Inventories
166	-64	-90	242	218	515	-8	70
Other current and noncurrent assets
172	137	-78	170	-94	-303	-119	90
Claims and rebates payable
1,114	-560	909	1,720	-672	82	207	-186
Accounts payable
-126	436	318	271	15	963	271	-50
Accrued expenses
-241	404	-142	948	450	149	-	-
Other noncurrent liabilities
90	-68	-102	112	-148	96	-22	80
Net cash provided by operating activitiescontinuing operations
-	-	-	-	4,768	4,751	2,193	2,105
Net cash used in operating activitiesdiscontinued operations
-	-	-	-	-11	30	0	12
Net cash flows provided by operating activities
5,351	4,919	4,848	4,549	4,757	4,781	2,193	2,117
Cash flows from investing activities:
Capital expenditures for property and equipment and computer software
267	330	295	-	-	-	-	-
Acquisitions, net of cash acquired
3,501	0	0	-	-	10,326	0	-
Purchases of property and equipment
-	-	-	436	423	160	144	119
Purchase of short-term investments
-	-	-	-	-	-	-	38
Proceeds from sale of short-term investments
-	-	-	-	-	-	-	8
Net cash proceeds from the sale of business
85	0	0	-	356	61	0	2
Other, net
7	21	-27	-24	3	4	-20	1
Net cash used in investing activitiescontinuing operations
-	-	-	-	-70	-10,428	-123	-145
Acquisitions, cash acquireddiscontinued operations
-	-	-	-	-	42	0	-
Net cash used in investing activitiesdiscontinued operations
-	-	-	-	-2	-5	0	-0
Net cash used in investing activities
-3,690	-351	-268	-411	-72	-10,391	-123	-145
Cash flows from financing activities:
Proceeds from long-term debt, net of discounts
1,398	5,986	5,500	2,490	0	7,458	5,580	-
Repayment of long-term debt
1,125	5,932	3,390	2,834	1,931	3,868	0	1,340
Treasury stock acquired
2,938	4,746	5,500	4,493	4,055	0	2,515	1,276
Net proceeds from employee stock plans
81	87	183	510	466	326	32	35
Commercial paper repayments, net
194	0	0	-	-	-	-	-
Excess tax benefit relating to employee stock-based compensation
-	-	-	94	42	45	28	58
Distributions paid to non-controlling interest
-	-	-	-	-	8	1	-
Deferred financing fees
-	-	-	-	-	103	91	3
Repayment of revolving credit line, net
-	-	-	-	-	1,000	0	-
Proceeds from accounts receivable financing facility
-	-	-	-	-	600	0	-
Repayment of accounts receivable financing facility
-	-	-	-	-	600	0	-
Other, net
-44	-72	-9	-57	-16	0	-2	3
Net cash (used in) provided by financing activitiescontinuing operations
-	-	-	-	-	2,850	3,029	-2,523
Net cash used in financing activitiesdiscontinued operations
-	-	-	-	-	-26	0	-
Net cash used in financing activities
-2,433	-4,677	-3,217	-4,289	-5,494	2,823	3,029	-2,523
Effect of foreign currency translation adjustment
4	1	-9	-6	-5	2	-2	4
Less cash decrease attributable to discontinued operations
-	-	-	-	13	-42	0	-
Net increase in cash and cash equivalents
-767	-109	1,353	-158	-801	-2,827	5,096	-546
Income tax payments, net of refunds
2,074	1,543	1,802	1,310	1,648	1,164	487	601
Interest
595	509	518	529	548	587	181	162