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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY For the years ended January 2, 1999, January 3, 1998, and December 28, 1996 (In thousands) Accumulated Additional Treasury other Common Stock paid-in Retained stock comprehensive Comprehensive Shares Amount capital earnings amount income income Balance at December 30, 1995 33,002 $ 330 143,876 82,874 (5,693) (13) Exercise of options 402 4 805 — — — Tax benefit from disqualifying dispositions of stock options — — 260 — — — Foreign currency translation adjustment — — — — — 41 41 Net earnings — — — 8,251 — — 8,251 Comprehensive income 8,292 Balance at December 28, 1996 33,404 334 144,941 91,125 (5,693) 28 Exercise of options 311 3 978 — — — Issuance of common stock grants as compensation 2 — 48 — — — Issuance of restricted common stock 100 1 1,586 — — — Tax benefit from disqualifying dispositions of stock options — — 521 — — — Purchase of 688,500 shares of treasury stock — — — — (15,103) — Foreign currency translation adjustment — — — — — (170) (170) Net earnings — — — 15,148 — — 15,148 Comprehensive income 14,978 Balance at January 3, 1998 33,817 338 148,074 106,273 (20,796) (142) Exercise of options 185 2 1,248 — — — Issuance of common stock grants as compensation 2 — 44 — — — Issuance of common stock 670 7 14,867 — — — Non-employee stock option compensation expense — — 385 — — — Tax benefit from disqualifying dispositions of stock options — — 621 — — — Foreign currency translation adjustment — — — — — (101) (101) Unrealized loss on available-for-sale equity security, net of deferred tax liability of $165 — — — — — (266) (266) Net earnings — — — 20,589 — — 20,589 Comprehensive income 20,222 Balance at January 2, 1999 34,674 $ 347 165,239 126,862 (20,796) (509) See notes to consolidated financial statements. C ERNER CORPORATION 4 ANNUAL R EPORT
CONSOLIDATED STATEMENTS OF CASH FLOWS For the years ended January 2, 1999, January 3, 1998, and December 28, 1996 (In thousands) 1998 1997 1996 CASH FLOWS FROM OPERATING ACTIVITIES Net earnings $ 20,589 15,148 8,251 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 25,411 18,075 15,498 Common stock received as consideration for sale of license software (70,000) — — Write-off of acquired in-process research and development 5,038 — — Issuance of common stock grants as compensation 44 48 — Non-employee stock option compensation expense 385 — — Equity in losses (income) of investee companies 1,601 864 (89) Provision for deferred income taxes 15,816 8,246 2,894 Tax benefit from disqualifying dispositions of stock options 621 521 260 Loss on disposal of capital equipment 223 110 99 Changes in assets and liabilities: Receivables, net (39,481) (27,931) 2,376 Inventory (908) (127) 630 Prepaid expenses and other (3,970) (2,075) (340) Accounts payable 2,620 1,984 (5,586) Accrued income taxes (2,334) — — Deferred revenue 45,410 479 1,649 Other current liabilities 4,828 3,350 2,620 Total adjustments (14,696) 3,544 20,011 Net cash provided by operating activities 5,893 18,692 28,262 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of capital equipment (20,846) (14,896) (14,962) Purchase of land, buildings, and improvements (2,767) (86) (379) Acquisition of business (6,874) — — Investment in investee companies (1,217) (4,500) (1,650) Proceeds on disposal of capital equipment — 212 33 Capitalized software development costs (25,052) (18,373) (13,240) Net cash used in investing activities (56,756) (37,643) (30,198) CASH FLOWS FROM FINANCING ACTIVITIES Repayment of long-term debt (45) (116) (130) Proceeds from sale of common stock 14,874 — — Proceeds from exercise of options 1,250 981 809 Purchase of treasury stock — (15,103) — Net cash provided by (used in) financing activities 16,079 (14,238) 679 Foreign currency translation adjustment (101) (170) 41 Net decrease in cash and cash equivalents (34,885) (33,359) (1,216) Cash and cash equivalents at beginning of year 77,543 110,902 112,118 Cash and cash equivalents at end of year $ 42,658 77,543 110,902 SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION Cash paid (received) during the year for: Interest $ 2,504 2,473 2,517 Income taxes, net of refund (2,112) 1,024 685 NONCASH INVESTING AND FINANCING ACTIVITIES Acquisition of equipment through capital leases $ — 73 — Issuance of restricted common stock and grants 44 1,635 — See notes to consolidated financial statements.. C ERNER CORPORATION ANNUAL R EPORT 5
Page 1 and 2: (Knowledge + Technology + People) +
Page 3 and 4: Transformations are at the heart of
Page 5 and 6: A letter To Our Shareholders, clien
Page 7 and 8: (Knowledge + Technology + People) +
Page 9 and 10: Building Cerner’s Executive Manag
Page 11 and 12: The State of Healthcare Cerner’s
Page 13 and 14: The remaining question: Can Cerner
Page 15 and 16: GENERAL ELECTRIC AND CERNER thoraci
Page 17 and 18: SEAMLESS ACCESS It is estimated tha
Page 19 and 20: REDUCING ADVERSE DRUG EVENTS Advers
Page 21 and 22: C Creating a Unique Company and Cul
Page 23 and 24: Building strong client relationship
Page 25 and 26: Establishing new boundaries C erner
Page 27 and 28: 1 9 9 8 F i n a n c i a l R e p o r
Page 29: CONSOLIDATED STATEMENTS OF EARNINGS
Page 33 and 34: NOTES TO CONSOLIDATED FINANCIAL STA
Page 41 and 42: MANAGEMENT’S DISCUSSION AND ANALY
Page 49 and 50: INDEPENDENT AUDITORS’ REPORT The
Page 51 and 52: CERNER LEADERSHIP AND CORPORATE INF
Page 53 and 54: KNOWLEDGE SOLUTIONS Clinical Decisi

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