| Boston Children’s Hospital; Boston, Massachusetts |
| Statement of Cash Flow |
| | | 2012 | 2011 | | 2010 |
| Cash flows from operating activities |
| Net earnings | | $10,514 | 9,672 | | 13,334 |
| Adjustments to reconcile net earnings to cash flows from operating activities: |
| Depreciation and amortization of property and intangibles | | 3,666 | 3,158 | | 2,939 |
| Stock based compensation | | 662 | 621 | | 614 |
| Noncontrolling interest | | 339 | - | | - |
| Asset write-downs and impairments | | 2,131 | 160 | | - |
| Deferred tax provision | | -39 | -836 | | 356 |
| Accounts receivable allowances | | 92 | 32 | | 12 |
| Changes in assets and liabilities, net of effects from acquisitions: |
| Increase in accounts receivable | | -9 | -915 | | -207 |
| Increase in inventories | | -1 | -715 | | -196 |
| Increase in accounts payable and accrued liabilities | | 2,768 | 493 | | 20 |
| Increase in other current and non-current assets | | -2,172 | -1,785 | | -574 |
| (Decrease)/increase in other current and non-current liabilities | | -2,555 | 4,413 | | 87 |
| Net cash flows from operating activities | | 15,396 | 14,298 | | 16,385 |
| Cash flows from investing activities |
| Additions to property, plant and equipment | | -2,934 | -2,893 | | -2,384 |
| Proceeds from the disposal of assets | | 1,509 | 1,342 | | 524 |
| Acquisitions, net of cash acquired (Note 20) | | -4,486 | -2,797 | | -1,269 |
| Purchases of investments | | -13,434 | -29,882 | | -15,788 |
| Sales of investments | | 14,797 | 30,396 | | 11,101 |
| Other (primarily intangibles) | | 38 | -778 | | -38 |
| Net cash used by investing activities | | -4,510 | -4,612 | | -7,854 |
| Cash flows from financing activities |
| Dividends to shareholders | | -6,614 | -6,156 | | -5,804 |
| Repurchase of common stock | | -12,919 | -2,525 | | -2,797 |
| Proceeds from short-term debt | | 3,268 | 9,729 | | 7,874 |
| Retirement of short-term debt | | -6,175 | -11,200 | | -6,565 |
| Proceeds from long-term debt | | 45 | 4,470 | 1,1 | 18 |
| Retirement of long-term debt | | -804 | -16 | | -32 |
| Proceeds from the exercise of stock options/excess tax benefits | | 2,720 | 1,246 | | 1,226 |
| Other | | -83 | - | | - |
| Net cash used by financing activities | | -20,562 | -4,452 | | -4,980 |
| Effect of exchange rate changes on cash and cash equivalents | | 45 | -47 | | -6 |
| (Decrease)/increase in cash and cash equivalents | | -9,631 | 5,187 | | 3,545 |
| Cash and cash equivalents, beginning of year (Note 1) | | 24,542 | 19,355 | | 15,810 |
| [-dish and cash equivalents, end of year (Note 1) | | $14,911 | $24,542 | $0 | $19,355 |
| Supplemental cash flow data |
| Cash paid during the year for: |
| Interest | $ | 616 | 576 | | 491 |
| Income taxes | | 2,507 | 2,970 | | 2,442 |
| Supplemental schedule of non-cash investing and financing activities |
| Issuance of common stock associated with the acquisition of Synthes, Inc. | | 13,335 | - | | - |
| Treasury stock issued for employee compensation and stock option plans, net of cash proceeds | | 615 | 433 | | 673 |
| Conversion of debt | | - | 1 | | 1 |
| Acquisitions |
| Fair value of assets acquired | | $19,025 | 3,025 | | 1,321 |
| Fair value of liabilities assumed and noncontrolling interests | | -1,204 | -228 | | -52 |
| Net fair value of acquisitions | | $17,821 | 2,797 | | 1,269 |
| Less: Issuance of common stock associated with the acquisition of Synthes, Inc. | | 13,335 | - | | - |
| Net cash paid for acquisitions | $ | 4,486 | 2,797 | | 1,269 |
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CashFlowStatement.xlsx
