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CVS Caremark Reports Record Results in Fourth Quarter and Fiscal 2009
Date:2/8/2010

92 Deferred income taxes and other non-cash items 48 (3) Change in operating assets and liabilities, net of effects of acquisitions: Accounts receivable, net (86) (291) Inventories (1,199) (488) Other current assets 48 12 Other assets (2) 19 Accounts payable and claims and discounts payable 4 (64) Accrued expenses (66) 183 Other long-term liabilities 38 1 ------------------------------- --- -- Net cash provided by operating activities $4,035 $3,947 ----------------------------------------- ------ ------ (1) On December 23, 2008, the Company's Board of Directors approved a change in the Company's fiscal year end from the Saturday nearest December 31 of each year to December 31 of each year to better reflect the Company's position in the health care, rather than the retail, industry. As you review the Company's operating performance, please consider that the fiscal years ended December 31, 2009 and 2008 include 365 days and 368 days, respectively.

Adjusted Earnings Per Share

(Unaudited)

For internal comparisons, management finds it useful to assess year-to-year performance by adjusting diluted income per share for amortization, which primarily relates to acquisition activities.

The Company defines adjusted earnings per share as income from continuing operations before income taxes plus amortization, less income tax provision and d
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SOURCE CVS Caremark Corporation
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