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Longs Drug Stores Corporation Reports Second Quarter Results
Date:8/20/2008

Current liabilities and other 23,298 (8,044)

Net cash provided by

operating activities 120,372 77,787

Investing Activities:

Capital expenditures (61,332) (67,059)

Acquisitions (4,931) (12,021)

Proceeds from dispositions of property

and intangible assets 941 19,848

Net cash used in investing activities (65,322) (59,232)

Financing Activities:

Proceeds from revolving line

of credit borrowings, net 25,000 8,000

Repayments of private placement notes (2,728) (2,727)

Repurchase of common stock (39,260) (29,994)

Proceeds from exercise of stock options 3,580 13,356

Dividend payments (10,127) (10,614)

Medicare Part D subsidy receipts

(disbursements), net (30,372) (5,937)

Excess tax benefits related to stock

awards and options 1,030 6,570

Other (2,325) (342)

Net cash used in financing activities (55,202) (21,688)

Decrease in cash and cash equivalents (152) (3,133)

Cash and cash equivalents at

beginning of period 27,019 27,596

Cash and cash equivalents at end of period 26,867 24,463

Supplemental disclosure of cash flow information:

Cash paid for interest, net of

amounts capitalized $5,348 $3,476

Cash paid for income taxes 44,663 16,402

Condensed Statements of Consolidated Stockholders' Equity<
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SOURCE Longs Drug Stores Corporation
Copyright©2008 PR Newswire.
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