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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 2,999.0 $ 2,902.9
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation, amortization and impairments 232.8 238.1
Acquired in-process research and development 75.0 0.0
Share-based compensation 115.8 98.0
Gain on interest rate swap (3.3) 0.0
Contingent consideration 5.5 (8.5)
Loss on divestiture of Hillerød, Denmark manufacturing operations 0.0 113.2
Deferred income taxes 180.2 71.6
Unrealized (gain) loss on strategic investments (39.7) (199.2)
Other 85.3 91.1
Changes in operating assets and liabilities, net:    
Accounts receivable (268.8) (2.9)
Due from anti-CD20 therapeutic programs 149.1 (30.6)
Inventory (188.2) 108.7
Accrued expenses and other current liabilities (441.4) (216.1)
Income tax assets and liabilities 504.6 306.9
Other changes in operating assets and liabilities, net 9.9 (49.7)
Net cash flows provided by operating activities 3,415.8 3,423.5
Cash flows from investing activities:    
Proceeds from sales and maturities of marketable securities 3,879.9 3,255.8
Purchases of marketable securities (3,753.9) (2,075.1)
Contingent consideration paid related to Fumapharm AG acquisition 0.0 (300.0)
Acquisition of Nightstar Therapeutics plc, net of cash acquired 0.0 (744.4)
Purchase of Sangamo Therapeutics, Inc. stock (141.8) 0.0
Purchases of property, plant and equipment (254.7) (314.0)
Acquired in-process research and development (75.0) 0.0
Acquisitions of intangible assets (37.0) 0.0
Proceeds from settlement of net investment hedge (7.8) 0.0
Proceeds from sales of strategic investments 0.5 309.7
Other 0.0 (4.0)
Net cash flows provided by investing activities (389.8) 128.0
Cash flows from financing activities:    
Purchases of treasury stock (5,029.1) (3,057.3)
Payments related to issuance of stock for share-based compensation arrangements, net (19.2) (23.6)
Proceeds from borrowings 2,967.3 0.0
Repayment of borrowings (1,500.0) 0.0
Cash proceeds from settlement of swap 3.3 0.0
Net distribution to noncontrolling interest 0.0 4.3
Other 19.0 21.6
Net cash flows used in financing activities (3,558.7) (3,055.0)
Net increase (decrease) in cash and cash equivalents (532.7) 496.5
Effect of exchange rate changes on cash and cash equivalents (3.9) (2.3)
Cash and cash equivalents, beginning of the period 2,913.7 1,224.6
Cash and cash equivalents, end of the period $ 2,384.9 $ 1,723.4