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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 2,794.0 $ 3,141.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 308.0 241.3
Stock-based compensation expense 644.6 493.0
Losses on marketable and other securities, net 324.5 117.4
Other non-cash items, net 17.4 199.0
Deferred income taxes (551.5) (466.7)
Acquired in-process research and development in connection with asset acquisition 0.0 195.0
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable (256.1) 488.2
Increase in inventories (224.4) (552.2)
Increase in prepaid expenses and other assets (284.4) (167.3)
(Decrease) increase in deferred revenue (5.1) 92.0
Increase (decrease) in accounts payable, accrued expenses, and other liabilities 737.3 (486.0)
Total adjustments 710.3 153.7
Net cash provided by operating activities 3,504.3 3,295.0
Cash flows from investing activities:    
Purchases of marketable and other securities (9,514.2) (4,345.0)
Sales or maturities of marketable and other securities 7,059.3 4,013.1
Capital expenditures (467.2) (437.9)
Payments for Libtayo intangible asset (145.7) (926.8)
Acquisitions, net of cash acquired (51.1) (230.3)
Net cash used in investing activities (3,118.9) (1,926.9)
Cash flows from financing activities:    
Proceeds from issuance of Common Stock 844.5 1,146.9
Payments in connection with Common Stock tendered for employee tax obligations (242.5) (256.6)
Repurchases of Common Stock (1,946.0) (1,651.7)
Net cash used in financing activities (1,344.0) (761.4)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (0.6) 0.0
Net (decrease) increase in cash, cash equivalents, and restricted cash (959.2) 606.7
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 $ 2,160.2 $ 3,504.8