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CVS Caremark Corporation (CVS)
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CVS » Topics » Estimated Assets Acquired and Liabilities Assumed as of July 31, 2004

This excerpt taken from the CVS 10-Q filed Nov 3, 2005.

Estimated Assets Acquired and Liabilities Assumed as of July 31, 2004

 

In millions

     

Cash and cash equivalents

    $ 3.0

Accounts receivable

      358.5

Inventories

      928.4

Other current assets

      67.2
    

Total current assets

      1,357.1

Property and equipment

      477.2

Goodwill

      903.3

Intangible assets

      500.0

Other assets

      135.3
    

Total assets acquired

      3,372.9
    

Accounts payable

      499.5

Accrued expenses

      268.4
    

Total current liabilities

      767.9

Other long-term liabilities

      471.0
    

Total liabilities

      1,238.9
    

Net assets acquired

      2,134.0
    

 

6

Table of Contents
Part I    Item 1

CVS Corporation

Notes to Consolidated Condensed Financial Statements

(Unaudited – See accompanying review report of KPMG LLP)

 

 

The following pro forma combined results of operations have been provided for illustrative purposes only and do not purport to be indicative of the actual results that would have been achieved by the combined companies for the periods presented, or that will be achieved by the combined company in the future:

 

     October 2, 2004

In millions, except per share amounts

    13 weeks
    39 weeks

Pro forma:(1)(2)

              

Net sales

    $ 8,399.4    $ 25,641.1

Net earnings

      181.5      655.7
    
  

Basic earnings per share

    $ 0.22    $ 0.81

Diluted earnings per share

      0.22      0.79
    
  

 

(1) The pro forma combined results of operations assume that the acquisition of the Acquired Businesses occurred at the beginning of each period presented. Such results have been prepared by adjusting the historical results of the Company to include the historical results of the Acquired Businesses, the incremental interest expense and the impact of the preliminary purchase price allocation.

 

(2) The pro forma combined results of operations do not include any cost savings that may have resulted from the combination of the Company and the Acquired Businesses or any costs that were incurred by the Company to integrate the Acquired Businesses.

 

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