XML 30 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net earnings $ 847.7 $ 933.1 $ 626.5
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 1,032.1 566.6 516.0
Stock-based compensation expense 92.8 66.0 47.0
Change in estimated sales allowances 331.1 707.9 345.8
Deferred income tax provision (115.9) (315.2) (87.1)
Loss from equity method investments 105.1 91.4 34.6
Financing fees 99.6 0.0 0.0
Other non-cash items 263.2 139.1 127.1
Litigation settlements, net 15.1 7.4 (14.6)
Changes in operating assets and liabilities:      
Accounts receivable (265.3) (939.1) (553.5)
Inventories (320.4) (147.5) (157.1)
Trade accounts payable 131.8 (0.3) 137.2
Income taxes (164.2) 78.5 (1.1)
Other operating assets and liabilities, net (44.2) (173.1) 85.8
Net cash provided by operating activities 2,008.5 1,014.8 1,106.6
Cash flows from investing activities:      
Capital expenditures (362.9) (325.3) (334.6)
Change in restricted cash 21.8 (5.1) (228.0)
Cash paid for acquisitions, net (693.1) (50.0) (1,261.9)
Proceeds from sale of property, plant and equipment 2.3 8.9 25.3
Purchase of marketable securities (62.1) (19.9) (19.3)
Proceeds from sale of marketable securities 33.1 20.2 10.6
Payments for product rights and other, net (508.8) (429.1) (60.9)
Net cash used in investing activities (1,569.7) (800.3) (1,868.8)
Cash flows from financing activities:      
Payment of financing fees (130.4) (5.8) (34.6)
Purchase of common stock (67.5) 0.0 (1,000.0)
Change in short-term borrowings, net (329.2) (107.8) 141.4
Proceeds from convertible note hedge 1,970.8 0.0 0.0
Proceeds from issuance of long-term debt 3,539.2 2,235.0 4,974.7
Payment of long-term debt (4,484.1) (2,295.8) (3,480.3)
Proceeds from exercise of stock options 97.7 53.8 76.2
Taxes paid related to net share settlement of equity awards (31.8) (27.7) 0.0
Acquisition of noncontrolling interest (11.7) 0.0 0.0
Payments for contingent consideration 0.0 (150.0) 0.0
Other items, net 51.8 30.9 15.5
Net cash provided by (used in) financing activities 604.8 (267.4) 692.9
Effect on cash of changes in exchange rates (33.1) (12.9) 10.6
Net increase (decrease) in cash and cash equivalents 1,010.5 (65.8) (58.7)
Cash and cash equivalents — beginning of period 225.5 291.3 350.0
Cash and cash equivalents — end of period 1,236.0 225.5 291.3
Non-cash transactions:      
Stock Issued During Period, Value, Acquisitions 6,305.8 0.0 0.0
Cash paid during the period for:      
Income taxes 302.9 210.5 189.6
Interest 254.7 273.8 249.4
Other current liabilities      
Non-cash transactions:      
Non-cash transactions $ 18.0 $ 0.0 $ 250.0