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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Net income $ 17,133 $ 377 $ 14,526
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization 2,395 2,044 2,085
Depreciation 2,104 1,828 1,824
Intangible asset impairment charges 39 792 1,749
(Income) loss from investments in equity securities, net (14) (340) 1,419
Charges for certain research and development asset acquisitions 3,456 11,409 0
Deferred income taxes (1,249) (1,899) (1,568)
Share-based compensation 761 645 541
Other 510 355 1,301
Net changes in assets and liabilities:      
Accounts receivable (244) (1,148) (644)
Inventories (835) (816) (161)
Trade accounts payable 182 (380) (289)
Accrued and other current liabilities (2,328) 1,783 (50)
Income taxes payable 1,023 214 380
Noncurrent liabilities (49) 456 (545)
Other (1,416) (2,314) (1,473)
Net Cash Provided by Operating Activities 21,468 13,006 19,095
Cash Flows from Investing Activities      
Capital expenditures (3,372) (3,863) (4,388)
Purchases of securities and other investments (519) (955) (1,204)
Proceeds from sale of Seagen Inc. common stock 0 1,145 0
Proceeds from sales of securities and other investments 377 1,658 721
Acquisition of Eyebiotech Limited, net of cash acquired (1,344) 0 0
Acquisition of Elanco Animal Health Incorporated aqua business (1,303) 0 0
Acquisition of Harpoon Therapeutics, Inc., net of cash acquired (746) 0 0
Acquisition of MK-1045 from Curon Pharmaceutical (700) 0 0
Acquisition of Prometheus Biosciences, Inc., net of cash acquired 0 (10,705) 0
Acquisition of Imago BioSciences Inc., net of cash acquired 0 (1,327) 0
Other (127) (36) (89)
Net Cash Used in Investing Activities (7,734) (14,083) (4,960)
Cash Flows from Financing Activities      
Payments on debt (1,290) (1,755) (2,251)
Proceeds from issuance of debt 3,599 5,939 0
Purchases of treasury stock (1,306) (1,346) 0
Dividends paid to stockholders (7,840) (7,445) (7,012)
Proceeds from exercise of stock options 177 125 384
Other (372) (328) (240)
Net Cash Used in Financing Activities (7,032) (4,810) (9,119)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (293) 23 (410)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 6,409 (5,864) 4,606
Cash, Cash Equivalents and Restricted Cash at Beginning of Year (includes $68, $79 and $71 of restricted cash at January 1, 2024, 2023 and 2022, respectively, included in Other current assets) 6,909 12,773 8,167
Cash, Cash Equivalents and Restricted Cash at End of Year (includes $76, $68 and $79 of restricted cash at December 31, 2024, 2023 and 2022, respectively, included in Other current assets) $ 13,318 $ 6,909 $ 12,773