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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities    
Net income from continuing operations $ 1,149 $ 1,880
Adjustments to reconcile net income from continuing operations to net cash flows provided by operating activities:    
Depreciation 64 42
Amortization 69 65
Acquired in-process research & development 25 0
Deferred income taxes (212) 18
Stock-based compensation 44 32
Unrealized foreign exchange loss 37 0
Other 7 0
Net changes in assets and liabilities    
Accounts receivable (376) (127)
Inventories (90) 1
Other current assets 177 120
Trade accounts payable 944 11
Accrued and other current liabilities 386 (69)
Due from/due to related party (164) 0
Income taxes payable 7 (148)
Other 46 (25)
Net Cash Flows Provided by Operating Activities from Continuing Operations 2,113 1,800
Cash Flows from Investing Activities    
Capital expenditures (133) (134)
Proceeds from sale of property, plant and equipment 2 3
Acquired in-process research & development (25) 0
Purchase of intangible asset - Alydia Health, net of cash acquired (192) 0
Net Cash Flows Used in Investing Activities from Continuing Operations (348) (131)
Cash Flows from Financing Activities    
Proceeds from issuance of long-term debt 9,470 0
Repayments of debt (10) 0
Payment of long-term debt issuance costs 118 0
Repayments of short-term borrowings from Merck & Co., Inc., net (1,512) 0
Net consideration paid to Merck & Co., Inc., in connection with the Separation (9,000) 0
Net transfers from (to) Merck & Co., Inc. 454 (1,669)
Dividend payments (74) 0
Net Cash Flows Used in Financing Activities from Continuing Operations (790) (1,669)
Discontinued Operations    
Net Cash Provided by (Used in) Operating Activities 298 (43)
Net Cash Used in Investing Activities 0 (9)
Net Cash (Used in) Provided by Financing Activities (356) 171
Net Cash Flows (Used in) Provided by Discontinued Operations (58) 119
Effect of Exchange Rate Changes on Cash and Cash Equivalents from Continuing Operations 21 0
Effect of Exchange Rate Changes on Cash and Cash Equivalents from Discontinued Operations 0 (57)
Net Increase in Cash and Cash Equivalents 938 62
Cash and Cash Equivalents, Beginning of Period 12 0
Cash and Cash Equivalents of Discontinued Operations, Beginning of Period 58 319
Total Cash and Cash Equivalents, End of Period 1,008 381
Less: Cash and Cash Equivalents of Discontinued Operations, End of Period 0 381
Cash and Cash Equivalents, End of Period $ 1,008 $ 0