This excerpt taken from the CVS 8-K filed Feb 25, 2005.
(Revised - Unaudited)
Fiscal Year Ended
Reconciliation of net earnings to net cash provided by operating activities:
Adjustments required to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization
Deferred income taxes and other noncash items
Change in operating assets and liabilities, providing/(requiring) cash, net of effects from acquisitions:
Accounts receivable, net
Other current assets
Other long-term liabilities
Net cash provided by operating activities
During the fourth quarter of fiscal 2004, the Company changed its method of reporting cash flows under Statement of Financial Accounting Standards (SFAS) No. 95,
Statement of Cash Flows, from the indirect method to the direct method. As part of a continuing effort to make its consolidated financial statements more transparent, the Company believes that the direct method, which is the preferred
method under SFAS No. 95, will provide additional useful information about its business to investors and other interested parties. In connection with implementing this change, the consolidated statements of cash flows for all prior periods presented
have been changed to the direct method. This change does not affect the consolidated statements of operations, consolidated balance sheets or consolidated statements of shareholders equity.