XML 24 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net earnings (loss) $ 2,078.6 $ (1,269.1) $ (669.9)
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 3,027.6 4,506.5 2,216.1
Deferred income tax expense (benefit) (25.9) 675.7 (213.2)
Litigation settlements and other contingencies, net (1.7) 323.7 101.1
Loss from equity method investments 0.0 61.9 48.4
Gain on disposal of business (1,754.1) 0.0 0.0
Share-based compensation expense 116.4 111.2 79.2
Other non-cash items 434.3 411.8 366.4
Changes in operating assets and liabilities:      
Accounts receivable (240.3) 59.3 78.7
Inventories (259.5) (427.6) (741.9)
Trade accounts payable 170.2 (70.4) (82.7)
Income taxes 25.3 (699.6) 3.6
Other operating assets and liabilities, net (618.3) (666.5) 46.0
Net cash provided by operating activities 2,952.6 3,016.9 1,231.8
Cash flows from investing activities:      
Cash received (paid) for acquisitions, net of cash acquired 0.0 277.0 415.8
Capital expenditures (406.0) (457.2) (243.0)
Payments for product rights and other, net (37.0) (52.2) (438.2)
Proceeds from sale of property, plant and equipment 13.8 18.3 2.1
Proceeds from sale of assets and subsidiaries 1,950.0 96.7 20.0
Purchase of marketable securities (30.2) (30.2) (104.8)
Proceeds from the sale of marketable securities 29.9 29.8 47.0
Net cash provided by (used in) investing activities 1,520.5 (117.8) (301.1)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 1,875.6 1,710.1 983.3
Payments of long-term debt (3,662.5) (4,201.3) (2,484.2)
Payments of financing fees (1.9) (7.0) (2.0)
Change in short-term borrowings, net (1,493.2) 392.1 1,099.6
Proceeds from exercise of stock options 0.0 0.0 0.6
Taxes paid related to net share settlement of equity awards (17.3) (17.4) (7.9)
Contingent consideration payments (18.9) (28.6) (48.5)
Cash dividends paid (581.6) (399.0) 0.0
Non-contingent payments for product rights 0.0 (456.0) (143.3)
Issuance of common stock 3.3 0.0 0.0
Other items, net 18.6 (4.9) (3.3)
Net cash used in financing activities (3,877.9) (3,012.0) (605.7)
Effect on cash of changes in exchange rates (38.9) (30.9) 33.8
Net increase (decrease) in cash, cash equivalents and restricted cash 556.3 (143.8) 358.8
Cash, cash equivalents and restricted cash — beginning of period 706.2 850.0 491.1
Cash, cash equivalents and restricted cash — end of period 1,262.5 706.2 850.0
Non-cash transactions:      
Common stock issued for the Combination 0.0 0.0 10,727.5
Cash paid during the period for:      
Income taxes 735.2 641.7 324.4
Interest $ 642.5 $ 684.8 $ 555.4