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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 817.8 $ 973.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 99.5 74.3
Stock-based compensation expense 238.7 166.9
Losses on marketable and other securities, net 166.6 204.5
Other non-cash items, net 20.6 84.3
Deferred income taxes (216.5) (225.0)
Changes in assets and liabilities:    
Decrease in accounts receivable 210.1 1,197.5
Increase in inventories (46.8) (88.6)
Increase in prepaid expenses and other assets (5.5) (44.8)
(Decrease) increase in deferred revenue (35.9) 9.5
Increase (decrease) in accounts payable, accrued expenses, and other liabilities 119.0 (250.4)
Total adjustments 549.8 1,128.2
Net cash provided by operating activities 1,367.6 2,101.7
Cash flows from investing activities:    
Purchases of marketable and other securities (1,749.4) (2,309.8)
Sales or maturities of marketable and other securities 1,792.8 746.3
Capital expenditures (178.2) (141.8)
Payments for Libtayo intangible asset (100.9) 0.0
Net cash used in investing activities (235.7) (1,705.3)
Cash flows from financing activities:    
Proceeds from issuance of Common Stock 485.2 521.6
Payments in connection with Common Stock tendered for employee tax obligations (97.0) (98.8)
Repurchases of Common Stock (710.7) (358.1)
Net cash (used in) provided by financing activities (322.5) 64.7
Net increase in cash, cash equivalents, and restricted cash 809.4 461.1
Cash, cash equivalents, and restricted cash at beginning of period 3,119.4 2,898.1
Cash, cash equivalents, and restricted cash at end of period $ 3,928.8 $ 3,359.2