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Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities    
Net income $ 2,868.5 $ 5,568.8
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 598.0 603.9
Change in deferred income taxes (93.5) (11.3)
Stock-based compensation expense 148.6 155.3
Net investment gains (765.0) (127.5)
Acquired in-process research and development (Note 3) 294.1 161.9
Other changes in operating assets and liabilities, net of acquisitions and divestitures (481.6) (1,516.4)
Other non-cash operating activities, net 308.7 208.6
Net Cash Provided by Operating Activities 2,877.8 1,362.8
Cash Flows from Investing Activities    
Net purchases of property and equipment (540.1) (444.0)
Proceeds from sales and maturities of short-term investments 111.2 89.4
Purchases of short-term investments 0.0 (34.1)
Proceeds from sales of noncurrent investments 412.0 416.4
Purchases of noncurrent investments (154.8) (146.6)
Cash paid for acquisitions, net of cash acquired (Note 3) (849.3) (6,917.7)
Purchases of in-process research and development (254.4) (241.9)
Other investing activities, net 4.1 (339.2)
Net Cash Used for Investing Activities (1,271.3) (7,617.7)
Cash Flows from Financing Activities    
Dividends paid (1,345.5) (1,235.2)
Net change in short-term borrowings (235.4)  
Net change in short-term borrowings   1,564.3
Proceeds from issuance of long-term debt 988.6 4,448.3
Repayments of long-term debt (276.3) (600.2)
Purchases of common stock (500.0) (3,500.0)
Other financing activities, net (197.9) (195.2)
Net Cash Provided by (Used for) Financing Activities (1,566.5) 482.0
Effect of exchange rate changes on cash and cash equivalents (12.4) 64.9
Net increase (decrease) in cash and cash equivalents 27.6 (5,708.0)
Cash and cash equivalents at January 1 (2019 includes $677.5 of discontinued operations) 2,337.5 7,998.2
Cash and Cash Equivalents at June 30 $ 2,365.1 $ 2,290.2