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HealthSouth Reports Results for Fourth Quarter Ended December 31, 2007
Date:2/25/2008

and facilities held for

sale at end of year (0.4) (14.4)

Cash and cash equivalents at end of year $19.8 $27.1

Operating activities. Net cash provided by operating activities increased by $360.5 million from 2006 to 2007. This increase resulted from higher net operating revenues and lower operating expenses year over year. Specifically, we experienced a $109.8 million reduction in professional fees-accounting, tax, and legal from 2006 to 2007. In addition, we received a $440 million federal income tax recovery in October 2007. Net cash provided by operating activities in 2007 and 2006 also included payments of approximately $171.4 million and $132.8 million, respectively, related to government, class action, and related settlements.

Investing activities. The increase in net cash provided by investing activities from 2006 to 2007 was due to the cash proceeds received from the divestitures of our surgery centers, outpatient, and diagnostic divisions during 2007.

Financing activities. The increase in net cash used in financing activities was due to the use of the net cash proceeds from the divestitures of our surgery centers, outpatient, and diagnostic divisions, as well as the majority of our federal income tax recovery, to reduce debt outstanding under our Credit Agreement during 2007. During 2007, we made approximately $1.3 billion of net debt payments, while during 2006, we made approximately $246.3 million of net debt payments. Financing activities for 2006 also included approximately $387.4 million of net proceeds from the issuance of convertible perpetual preferred stock.

HealthSouth Corporation and Subsidiaries

Supplemental Non-GAAP Disclosures

Adjusted Consolidated EBITDA

Three Months Ended Year Ended


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SOURCE HealthSouth Corporation
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