XML 21 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Statement of Cash Flows [Abstract]    
Net earnings $ 7,504 $ 4,584
Adjustments to reconcile net earnings to net cash from operating activities:    
Depreciation 630 439
Amortization of intangible assets 5,912 3,967
Deferred income taxes (153) (498)
Change in fair value of contingent consideration liabilities 2,447 1,078
Stock-based compensation 563 617
Upfront costs and milestones related to collaborations 1,219 1,028
Gain on divestitures (68) 0
Other, net (114) 491
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (572) (574)
Inventories (30) (193)
Prepaid expenses and other assets (462) 190
Accounts payable and other liabilities 1,454 1,903
Income tax assets and liabilities, net (628) (298)
Cash flows from operating activities 17,702 12,734
Cash flows from investing activities    
Acquisition of businesses, net of cash acquired 0 (38,138)
Other acquisitions and investments (837) (1,072)
Acquisitions of property and equipment (600) (519)
Purchases of investment securities (73) (47)
Sales and maturities of investment securities 88 1,464
Other, net 223 1,382
Cash flows from investing activities (1,199) (36,930)
Cash flows from financing activities    
Proceeds from issuance of long-term debt 1,000 3,000
Repayments of long-term debt and finance lease obligations (5,662) (4,414)
Debt issuance costs 0 (20)
Dividends paid (6,947) (5,615)
Purchases of treasury stock (803) (682)
Proceeds from the exercise of stock options 169 109
Payments of contingent consideration liabilities (480) (212)
Other, net 22 28
Cash flows from financing activities (12,701) (7,806)
Effect of exchange rate changes on cash and equivalents (69) (32)
Net change in cash and equivalents 3,733 (32,034)
Cash and equivalents, beginning of period 8,449 39,924
Cash and equivalents, end of period 12,182 7,890
Issuance of common shares associated with acquisitions of businesses $ 0 $ 23,979