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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows from Operating Activities    
Net income $ 392 $ 755
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation 110 98
Amortization 155 102
Impairment of assets 9 0
Acquired in-process research and development and milestones 6 81
Accretion and changes in fair value in contingent consideration (9) 0
Deferred income tax expense (benefit) 33 (170)
Stock-based compensation 70 79
Unrealized foreign exchange gain (8) (24)
Gain on debt repurchase (46) 0
Other 60 18
Net changes in assets and liabilities, net of assets acquired    
Accounts receivable (81) 42
Inventories (94) (100)
Other current assets (54) (180)
Trade accounts payable (97) (215)
Accrued and other current liabilities 14 (28)
Income taxes payable (30) 24
Other 129 67
Net Cash Flows Provided by Operating Activities 559 549
Cash Flows from Investing Activities    
Capital expenditures (117) (120)
Proceeds from sale of property, plant and equipment 1 2
Acquired in-process research and development and milestones (10) (26)
Dermavant acquisition, net of cash acquired (75) 0
Purchase of product rights and asset acquisition (124) (73)
Net Cash Flows Used in Investing Activities (325) (217)
Cash Flows from Financing Activities    
Proceeds from debt 730 1,036
Repayments of debt (1,006) (1,045)
Payment of long-term debt issuance costs 0 (36)
Employee withholding taxes related to stock-based awards (14) (18)
Dividend payments (84) (223)
Net Cash Flows Used in Financing Activities (374) (286)
Effect of Exchange Rate Changes on Cash and Cash Equivalents 137 24
Net (Decrease) Increase in Cash and Cash Equivalents (3) 70
Cash and Cash Equivalents, Beginning of Period 675 693
Cash and Cash Equivalents, End of Period $ 672 $ 763