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Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities    
Net income $ 3,108.1 $ 2,855.4
Adjustments to Reconcile Net Income to Cash Flows from Operating Activities:    
Depreciation and amortization 728.6 784.6
Change in deferred income taxes (990.5) (1,125.0)
Stock-based compensation expense 292.7 193.1
Net investment losses 80.0 545.6
Acquired in-process research and development (Note 3) 202.1 606.0
Other changes in operating assets and liabilities, net of acquisitions and divestitures (676.1) (104.2)
Other operating activities, net (382.4) (49.2)
Net Cash Provided by Operating Activities 2,362.5 3,706.3
Cash Flows from Investing Activities    
Purchases of property and equipment (1,406.7) (736.4)
Proceeds from sales and maturities of short-term investments 109.6 57.6
Purchases of short-term investments (59.8) (32.9)
Proceeds from sales of and distributions from noncurrent investments 388.4 168.5
Purchases of noncurrent investments (343.4) (251.4)
Purchases of in-process research and development (333.1) (958.2)
Other investing activities, net 497.1 (111.3)
Net Cash Used for Investing Activities (1,147.9) (1,864.1)
Cash Flows from Financing Activities    
Dividends paid (2,035.0) (1,769.2)
Net change in short-term borrowings (1,498.0) 2,117.2
Proceeds from issuance of long-term debt 3,958.5 0.0
Repayments of long-term debt 0.0 (1,560.0)
Purchases of common stock (750.0) (1,500.0)
Other financing activities, net (296.6) (290.0)
Net Cash Used for Financing Activities (621.1) (3,002.0)
Effect of exchange rate changes on cash and cash equivalents 34.0 (35.8)
Net increase (decrease) in cash and cash equivalents 627.5 (1,195.6)
Cash and cash equivalents at January 1 2,067.0 3,818.5
Cash and Cash Equivalents at June 30 $ 2,694.5 $ 2,622.9