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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities of Continuing Operations      
Net income from continuing operations $ 14,526 $ 12,358 $ 4,523
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities of continuing operations:      
Amortization 2,085 1,636 1,817
Depreciation 1,824 1,578 1,669
Intangible asset impairment charges 1,749 302 1,718
Loss (income) from investments in equity securities, net 1,419 (1,940) (1,338)
Charge for the acquisition of Pandion Therapeutics, Inc. 0 1,556 0
Charge for the acquisition of VelosBio Inc. 0 0 2,660
Deferred income taxes (1,568) 187 (566)
Share-based compensation 541 479 441
Other 1,301 805 1,294
Net changes in assets and liabilities:      
Accounts receivable (644) (2,033) (1,002)
Inventories (161) (674) (895)
Trade accounts payable (289) 405 684
Accrued and other current liabilities (50) 277 (1,152)
Income taxes payable 380 (540) 814
Noncurrent liabilities (545) 484 (617)
Other (1,473) (1,758) (2,433)
Net Cash Provided by Operating Activities of Continuing Operations 19,095 13,122 7,617
Cash Flows from Investing Activities of Continuing Operations      
Capital expenditures (4,388) (4,448) (4,429)
Purchase of Seagen Inc. common stock 0 0 (1,000)
Purchases of securities and other investments (1,204) (1) (95)
Proceeds from sales of securities and other investments 721 1,026 2,812
Acquisition of Acceleron Pharma Inc., net of cash acquired 0 (11,174) 0
Acquisition of Pandion Therapeutics, Inc., net of cash acquired 0 (1,554) 0
Acquisition of VelosBio Inc., net of cash acquired 0 0 (2,696)
Acquisition of ArQule, Inc., net of cash acquired 0 0 (2,545)
Other acquisitions, net of cash acquired (121) (179) (1,365)
Other 32 (91) 125
Net Cash Used in Investing Activities of Continuing Operations (4,960) (16,421) (9,193)
Cash Flows from Financing Activities of Continuing Operations      
Net change in short-term borrowings 0 (3,986) 2,549
Payments on debt (2,251) (2,319) (1,957)
Proceeds from issuance of debt 0 7,936 4,419
Distribution from Organon & Co. 0 9,000 0
Purchases of treasury stock 0 (840) (1,281)
Dividends paid to stockholders (7,012) (6,610) (6,215)
Proceeds from exercise of stock options 384 202 89
Other (240) (286) (436)
Net Cash (Used in) Provided by Financing Activities of Continuing Operations (9,119) 3,097 (2,832)
Cash Flows from Discontinued Operations      
Net cash provided by operating activities 0 987 2,636
Net cash used in investing activities 0 (134) (250)
Net cash used in financing activities 0 (504) 0
Net Cash Flows Provided by Discontinued Operations 0 349 2,386
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (410) (133) 253
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 4,606 14 (1,769)
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes $71, $103 and $258 of restricted cash at January 1, 2022, 2021 and 2020 included in Other current assets) 8,167 8,153 9,934
Less: Cash and cash equivalents related to discontinued operations 0 0 12
Cash, Cash Equivalents and Restricted Cash at End of Year (includes $79, $71 and $103 of restricted cash at December 31, 2022, 2021 and 2020 included in Other current assets) $ 12,773 $ 8,167 $ 8,153