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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net earnings $ 11,549 $ 4,622 $ 7,882
Adjustments to reconcile net earnings to net cash from operating activities:      
Depreciation 803 666 464
Amortization of intangible assets 7,718 5,805 1,553
Deferred income taxes (898) (2,325) 122
Change in fair value of contingent consideration liabilities 2,679 5,753 3,091
Stock-based compensation 692 753 430
Upfront costs and milestones related to collaborations 1,624 1,376 490
Gain on divestitures (68) 0 (330)
Stemcentrx impairment 0 0 1,030
Other, net 0 832 43
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (1,321) (929) (74)
Inventories (142) (40) (231)
Prepaid expenses and other assets (197) 134 (225)
Accounts payable and other liabilities 1,628 1,514 97
Income tax assets and liabilities, net (1,290) (573) (1,018)
Cash flows from operating activities 22,777 17,588 13,324
Cash flows from investing activities      
Acquisition of businesses, net of cash acquired (525) (38,260) 0
Other acquisitions and investments (1,377) (1,350) (1,135)
Acquisitions of property and equipment (787) (798) (552)
Purchases of investment securities (119) (61) (583)
Sales and maturities of investment securities 98 1,525 2,699
Other, net 366 1,387 167
Cash flows from investing activities (2,344) (37,557) 596
Cash flows from financing activities      
Net change in commercial paper borrowings 0 0 (699)
Repayments of other short-term borrowings 0 0 (3,000)
Proceeds from issuance of long-term debt 1,000 3,000 31,482
Repayments of long-term debt and finance lease obligations (9,414) (5,683) (1,536)
Debt issuance costs 0 (20) (424)
Dividends paid (9,261) (7,716) (6,366)
Purchases of treasury stock (934) (978) (629)
Proceeds from the exercise of stock options 244 209 8
Payments of contingent consideration liabilities (698) (321) (163)
Other, net 24 8 35
Cash flows from financing activities (19,039) (11,501) 18,708
Effect of exchange rate changes on cash and equivalents (97) (5) 7
Net change in cash and equivalents 1,297 (31,475) 32,635
Cash and equivalents, beginning of year 8,449 39,924 7,289
Cash and equivalents, end of year 9,746 8,449 39,924
Other supplemental information      
Interest paid, net of portion capitalized 2,712 2,619 1,794
Income taxes paid 3,648 1,674 1,447
Supplemental schedule of non-cash investing and financing activities      
Issuance of common shares associated with acquisitions of businesses $ 0 $ 23,979 $ 0