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Accounts payable and
accrued expenses 382,898 (19,764)
Other liabilities 76,041 (31,641)
Net cash provided by
operating activities 384,856 319,917
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment (96,867) (159,917)
Acquisition of intangible assets (107,246) (115,850)
Proceeds from sale of investment 12,291 -
Sales and (purchases) of
available-for-sale investments, net 18,876 255,391
Net cash used for
investing activities (172,946) (20,376)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercises of common
stock options 93,900 143,491
Windfall tax benefits from stock-based
compensation 13,993 27,189
Acquisition of treasury stock (7,105) (4,418)
Payments on and retirements of long-term
debt (3,853) (188,886)
Net cash provided by (used for)
financing activities 96,935 (22,624)
EFFECT OF EXCHANGE RATE CHANGES ON
CASH AND CASH EQUIVALENTS 13,312 14,535
NET INCREASE IN CASH AND CASH EQUIVALENTS 322,157 291,452
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 496,512 205,060
CASH AND CASH EQUIVALENTS, END OF YEAR $818,669 $496,512
CEPHALON, INC. AND SUBSIDIARIES
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