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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities:    
Net (loss)/earnings $ (11,908) $ 2,267
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization, net 2,532 2,429
Deferred income taxes (711) (548)
Stock-based compensation 133 122
Impairment charges 1 20
Divestiture gains and royalties (280) (194)
Acquired IPRD 12,949 75
Equity investment (gains)/losses (102) 155
Other adjustments 22 4
Changes in operating assets and liabilities:    
Receivables 479 (175)
Inventories (218) (282)
Accounts payable 300 187
Rebates and discounts (665) (910)
Income taxes payable 910 884
Other (608) (1,064)
Net cash provided by operating activities 2,834 2,970
Cash Flows From Investing Activities:    
Sale and maturities of marketable debt securities 747 57
Purchase of marketable debt securities (274) (200)
Proceeds from sales of equity investments 5 62
Capital expenditures (284) (278)
Divestiture and other proceeds 241 227
Acquisition and other payments, net of cash acquired (20,053) (78)
Net cash used in investing activities (19,618) (210)
Cash Flows From Financing Activities:    
Short-term debt obligations, net 3,070 128
Issuance of long-term debt 12,883 0
Repayment of long-term debt 0 (1,640)
Repurchase of common stock 0 (250)
Dividends (1,212) (1,196)
Stock option proceeds and other, net (97) (92)
Net cash provided by/(used in) financing activities 14,644 (3,050)
Effect of exchange rates on cash, cash equivalents and restricted cash (45) 13
Decrease in cash, cash equivalents and restricted cash (2,185) (277)
Cash, cash equivalents and restricted cash at beginning of period 11,519 9,325
Cash, cash equivalents and restricted cash at end of period $ 9,334 $ 9,048