Cleveland Clinic Health System Obligated Group - FMSbonds.com

Cleveland Clinic Health SystemConsolidating Statements of Cash FlowsYear Ended December 31, 2006(In Thousands)ConsolidatingObligated Non-Obligated Adjustments &Group Group Eliminations ConsolidatedOperating activities and net nonoperating gains and lossesIncrease in net assets $ 555,412 $ 98,261 $ – $ 653,673Increase in net assets from discontinued operations (28,479) – – (28,479)Increase in net assets from continuing operations 526,933 98,261 – 625,194Adjustments to reconcile increase in net assets tonet cash provided by operating activities and netnonoperating gains and losses:Minimum pension liability adjustment (37,628) – – (37,628)Net increase in investments classified as trading (63,891) (6,878) – (70,769)Impairment of investments carried at cost 257 – – 257Depreciation and amortization 176,426 18,493 – 194,919Provision for uncollectible accounts 88,172 11,136 – 99,308Restricted gifts, bequests, investment income, and other (106,269) (3,906) – (110,175)Donated capital (477) – – (477)Contribution (from) to affiliates (35,210) 35,210 – –Accreted interest and amortization of bond premiums (483) (168) – (651)Change in value of derivatives (7,515) – – (7,515)Changes in operating assets and liabilities:Patient receivables (110,011) (33,566) – (143,577)Other current assets (131,950) (8,176) 64,591 (75,535)Other noncurrent assets 4,303 36,014 5,000 45,317Accounts payable and other current liabilities (82,376) 79,172 (63,513) (66,717)Other liabilities 164,516 (8,370) (1,078) 155,068Net cash provided by operating activities and netnonoperating gains and losses from continuing operations 384,797 217,222 5,000 607,019Financing activitiesPayments on short-term borrowings – (38,413) – (38,413)Proceeds from long-term borrowings 114,800 – (5,000) 109,800Payments to redeem long-term debt (9,252) – – (9,252)Principal payments on long-term debt (8,700) (2,440) – (11,140)Debt issuance costs (3,004) – – (3,004)Change in pledge receivables, trusts and interests in foundations 3,574 (265) – 3,309Restricted gifts, bequests, investment income, and other 106,269 3,906 – 110,175Net cash provided by (used in) financing activitiesfrom continuing operations 203,687 (37,212) (5,000) 161,475Investing activitiesExpenditures for property and equipment, net (357,820) (101,004) – (458,824)Contribution from (to) affiliates 35,210 (35,210) – –(Increase) decrease in nontrading investments, net (346,636) (506) – (347,142)Net cash used in investing activities from continuing operations (669,246) (136,720) – (805,966)Net cash provided by discontinued operations 67,145 – – 67,145(Decrease) increase in cash and cash equivalents (13,617) 43,290 – 29,673Cash and cash equivalents at beginning of year 355,227 75,732 – 430,959Cash and cash equivalents at end of year $ 341,610 $ 119,022 $ – $ 460,632See notes to consolidating financial statements.46 .