CVS » Topics » Unaudited Pro Forma Combined Condensed Statements of Operations
This excerpt taken from the CVS 8-K filed Feb 13, 2007.
Unaudited Pro Forma Combined Condensed Statements of Operations
Represents the adjustment necessary to eliminate revenues and cost of revenue, of CVS and Caremark that represent inter-company amounts that would ordinarily be eliminated in the preparation of consolidated financial
Represents the adjustment to record estimated incremental depreciation and amortization on identifiable intangible assets over their respective useful lives. Customer relationships are amortized over an estimated useful
life of 19 years. Proprietary technology is amortized over an estimated useful life of 5 years, while trade names are estimated to have indefinite life and are not amortized. In accordance with SFAS No. 142, Goodwill and Other Intangible
Assets, the unaudited pro forma combined condensed statements of operations do not include goodwill amortization.
Represents the adjustments to record the pro forma interest expense on the long-term debt used to fund the Caremark Special Cash Dividend utilizing an interest rate of 7%.
Represents the adjustments to record the pro forma combined income tax provision at the estimated effective income tax rate of the combined company.
Pro forma combined dividends declared per common share were computed using the CVS dividend rate.
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