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CONSOLIDATED STATEMENTS 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 $ 3,513.2 $ 2,115.8 $ 2,444.4
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 235.9 210.3 148.2
Non-cash compensation expense 432.0 464.3 427.4
Other non-cash items, net (135.0) (29.3) 12.1
Deferred taxes 75.6 (130.6) (140.0)
Changes in assets and liabilities:      
Increase in trade, Sanofi, and other accounts receivable (1,356.1) (523.7) (236.4)
Increase in inventories (529.4) (335.5) (387.9)
Decrease (increase) in prepaid expenses and other assets 114.9 (79.8) (88.1)
Increase (decrease) in deferred revenue 148.1 139.5 (43.4)
Increase in accounts payable, accrued expenses, and other liabilities 118.9 599.0 58.8
Total adjustments (895.1) 314.2 (249.3)
Net cash provided by operating activities 2,618.1 2,430.0 2,195.1
Cash flows from investing activities:      
Purchases of marketable and other securities (3,241.0) (3,202.4) (1,845.5)
Sales or maturities of marketable and other securities 3,785.0 1,604.2 775.6
Capital expenditures (614.6) (429.6) (383.1)
Other 0.0 0.0 (10.0)
Net cash used in investing activities (70.6) (2,027.8) (1,463.0)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt, net of issuance costs 1,981.9 0.0 0.0
Proceeds from bridge loan facility 1,500.0 0.0 0.0
Repayment of bridge loan facility (1,500.0) 0.0 0.0
Proceeds from issuance of Common Stock 2,575.2 211.8 114.5
Payments in connection with Common Stock tendered for employee tax obligations (680.8) (188.0) (187.2)
Repurchases of Common Stock (5,846.8) (275.9) (4.4)
Net cash used in financing activities (1,970.5) (252.1) (77.1)
Net increase in cash, cash equivalents, and restricted cash 577.0 150.1 655.0
Cash, cash equivalents, and restricted cash at beginning of period 1,630.3 1,480.2 825.2
Cash, cash equivalents, and restricted cash at end of period 2,207.3 1,630.3 1,480.2
Supplemental disclosure of cash flow information      
Cash paid for interest (net of amounts capitalized) 23.2 25.0 22.3
Cash paid for income taxes $ 188.1 $ 342.3 $ 205.6