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Consolidated and Combined Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities      
Net income (loss) $ (560.1) $ 67.9 $ 86.5
Adjustments to reconcile net income (loss) to cash flows from operating activities:      
Depreciation and amortization 516.9 314.5 296.0
Change in deferred income taxes (124.8) 0.1 (60.7)
Stock-based compensation expense 47.7 49.4 26.0
Asset impairment charges 25.1 32.6 120.5
Gain on sale of assets (51.3) 0.0 (0.8)
Gain on divestitures (170.0) 0.0 0.0
Inventory fair value step-up amortization 90.1 0.6 0.0
Other non-cash operating activities, net 19.7 (12.7) 49.0
Other changes in operating assets and liabilities, net of acquisitions and divestitures:      
Receivables 14.0 (172.4) (122.0)
Inventories (94.7) (33.7) (20.1)
Other assets (122.9) 7.0 (3.2)
Accounts payable and other liabilities 369.3 (29.2) 116.1
Net Cash Provided by (Used for) Operating Activities (41.0) 224.1 487.3
Cash Flows from Investing Activities      
Purchases of property and equipment (134.6) (140.4) (134.5)
Disposals of property and equipment 72.7 0.3 9.4
Purchases of software (176.3) (57.0) (2.0)
Cash paid for acquisitions, net of cash acquired (Note 6) (5,001.3) (32.8) 0.0
Divestiture proceeds (Note 6) 434.7 0.0 0.0
Proceeds from settlement of net investment hedges (Note 11) 32.7 0.0 0.0
Other investing activities, net (7.1) (4.9) 0.1
Net Cash Used for Investing Activities (4,779.2) (234.8) (127.0)
Cash Flows from Financing Activities      
Proceeds from issuance of long-term debt 4,804.2 0.0 2,500.0
Repayments of long-term borrowings (951.5) (121.1) (7.5)
Proceeds from issuance of common stock and tangible equity units (Note 1 and Note 9) 1,219.9 0.0 1,659.7
Debt issuance costs (102.5) 0.0 (24.5)
Consideration paid to Lilly in connection with the Separation (Note 1) 0.0 (191.6) (3,991.3)
Other financing activities, net (16.2) 1.6 (17.2)
Other net transactions with Lilly 0.0 6.3 (154.4)
Net Cash Provided by (Used for) Financing Activities 4,953.9 (304.8) (35.2)
Effect of exchange rate changes on cash and cash equivalents 26.6 (16.9) 29.0
Net (decrease) increase in cash, cash equivalents and restricted cash 160.3 (332.4) 354.1
Cash, cash equivalents and restricted cash at beginning of period 345.1 677.5 323.4
Cash, cash equivalents and restricted cash at end of period 505.4 345.1 677.5
Cash, cash equivalents and restricted cash at end of period $ 345.1 $ 345.1 $ 677.5