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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities    
Net income $ 1,456.5 $ 4,241.6
Adjustments to Reconcile Net Income to Cash Flows from Operating Activities:    
Gain related to disposition of Elanco (Note 5) 0.0 (3,680.5)
Depreciation and amortization 273.6 356.5
Change in deferred income taxes 11.2 (72.4)
Stock-based compensation expense 71.8 75.8
Acquired in-process research and development (Note 3) 52.3 136.9
Other changes in operating assets and liabilities, net of acquisitions and divestitures (1,408.1) (714.3)
Other non-cash operating activities, net (74.9) (32.3)
Net Cash Provided by Operating Activities 382.4 311.3
Cash Flows from Investing Activities    
Net purchases of property and equipment (258.3) (203.7)
Proceeds from sales and maturities of short-term investments 36.8 35.9
Purchases of short-term investments 0.0 (33.7)
Proceeds from sales of noncurrent investments 54.5 83.6
Purchases of noncurrent investments (83.0) (60.6)
Cash paid for acquisitions, net of cash acquired (Note 3) (849.3) (6,917.7)
Purchases of in-process research and development (13.0) (196.9)
Other investing activities, net 51.4 (385.6)
Net Cash Used for Investing Activities (1,060.9) (7,678.7)
Cash Flows from Financing Activities    
Dividends paid (671.3) (637.2)
Net change in short-term borrowings 1,748.7 1,850.4
Proceeds from issuance of long-term debt 0.0 4,448.3
Repayments of long-term debt (276.3) (600.0)
Purchases of common stock (500.0) (3,500.0)
Other financing activities, net (194.4) (193.7)
Net Cash Provided by Financing Activities 106.7 1,367.8
Effect of exchange rate changes on cash and cash equivalents (66.7) 37.8
Net decrease in cash and cash equivalents (638.5) (5,961.8)
Cash and cash equivalents at January 1 (2019 includes $677.5 of discontinued operations) 2,337.5  
Cash and Cash Equivalents at March 31 $ 1,699.0 $ 2,036.4