Loss on disposals of property and equipment, net

  
IQVIA HOLDINGS INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Year Ended December 31, |
| (in millions) |  | 2021 |  | 2020 |  | 2019 |
| Operating activities: |  |  |  |  |  |  |
| Net income |  | $ | 971  |  |  | $ | 308  |  |  | $ | 227  |  |
| Adjustments to reconcile net income to cash provided by operating activities: |  |  |  |  |  |  |
| Depreciation and amortization |  | 1,264  |  |  | 1,287  |  |  | 1,202  |  |
| Amortization of debt issuance costs and discount |  | 17  |  |  | 18  |  |  | 13  |  |
|  |  |  |  |  |  |  |
| Stock-based compensation |  | 170  |  |  | 95  |  |  | 146  |  |
|  |  |  |  |  |  |  |
| Loss on disposals of property and equipment, net |  | —  |  |  | —  |  |  | 1  |  |
| (Earnings) loss from unconsolidated affiliates |  | (6) |  |  | (7) |  |  | 9  |  |
| Gain on investments, net |  | (16) |  |  | (25) |  |  | (43) |  |
| Benefit from deferred income taxes |  | (138) |  |  | (176) |  |  | (157) |  |
| Changes in operating assets and liabilities: |  |  |  |  |  |  |
| Accounts receivable and unbilled services |  | (138) |  |  | 255  |  |  | (122) |  |
| Prepaid expenses and other assets |  | (15) |  |  | (146) |  |  | (92) |  |
| Accounts payable and accrued expenses |  | 244  |  |  | 253  |  |  | 240  |  |
| Unearned income |  | 591  |  |  | 180  |  |  | (2) |  |
| Income taxes payable and other liabilities |  | (2) |  |  | (83) |  |  | (5) |  |
| Net cash provided by operating activities |  | 2,942  |  |  | 1,959  |  |  | 1,417  |  |
| Investing activities: |  |  |  |  |  |  |
| Acquisition of property, equipment and software |  | (640) |  |  | (616) |  |  | (582) |  |
| Acquisition of businesses, net of cash acquired |  | (1,458) |  |  | (177) |  |  | (588) |  |
|  |  |  |  |  |  |  |
| Purchases of marketable securities, net |  | (10) |  |  | (9) |  |  | (3) |  |
| Investments in unconsolidated affiliates, net of payments received |  | (5) |  |  | 10  |  |  | —  |  |
| Proceeds from sale of (investments in) equity securities |  | 5  |  |  | (2) |  |  | (22) |  |
| Other |  | 5  |  |  | (2) |  |  | 5  |  |
| Net cash used in investing activities |  | (2,103) |  |  | (796) |  |  | (1,190) |  |
| Financing activities: |  |  |  |  |  |  |
| Proceeds from issuance of debt |  | 1,951  |  |  | 1,591  |  |  | 1,900  |  |
| Payment of debt issuance costs |  | (40) |  |  | (33) |  |  | (47) |  |
| Repayment of debt |  | (2,091) |  |  | (864) |  |  | (899) |  |
| Proceeds from revolving credit facility |  | 810  |  |  | 1,250  |  |  | 2,522  |  |
| Repayment of revolving credit facility |  | (600) |  |  | (1,635) |  |  | (2,776) |  |
|  |  |  |  |  |  |  |
| (Payments) proceeds related to employee stock option plans |  | (59) |  |  | (44) |  |  | 11  |  |
| Repurchase of common stock |  | (406) |  |  | (447) |  |  | (949) |  |
| Distributions to non-controlling interest, net |  | —  |  |  | (13) |  |  | (18) |  |
| Acquisition of Quest's non-controlling interest |  | (758) |  | —  |  |  | —  |  |
| Contingent consideration and deferred purchase price payments |  | (42) |  |  | (22) |  |  | (20) |  |
| Net cash used in financing activities |  | (1,235) |  |  | (217) |  |  | (276) |  |
| Effect of foreign currency exchange rate changes on cash |  | (52) |  |  | 31  |  |  | (5) |  |
| (Decrease) increase in cash and cash equivalents |  | (448) |  |  | 977  |  |  | (54) |  |
| Cash and cash equivalents at beginning of period |  | 1,814  |  |  | 837  |  |  | 891  |  |
| Cash and cash equivalents at end of period |  | $ | 1,366  |  |  | $ | 1,814  |  |  | $ | 837  |  |

  
The accompanying notes are an integral part of these consolidated financial statements.69
