XML 127 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 865.0 $ 588.0 $ 491.4
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss from discontinued operations 0 0 12.4
Depreciation and amortization 294.8 255.5 250.2
Share based compensation 75.7 62.2 65.7
Impairment of intangible assets 16.0 42.7 0
Gain on sale of non-current investments (23.5) (11.1) (55.2)
Loss/(gain) on sale of product rights 6.0 (16.5) (6.3)
Other 16.1 9.1 14.6
Movement in deferred taxes (14.5) (15.0) (98.8)
Equity in (earnings)/losses of equity method investees (2.5) (1.4) 0.7
Changes in operating assets and liabilities:      
Increase in accounts receivable (134.0) (114.4) (212.3)
Increase in sales deduction accrual 80.5 222.6 134.7
Increase in inventory (64.4) (58.2) (38.7)
(Increase)/decrease in prepayments and other assets (36.8) (40.3) 30.9
(Decrease)/increase in accounts payable and other liabilities (10.0) 25.9 38.6
Returns on investment from joint venture 5.2 5.8 4.9
Cash flows used in discontinued operations 0 0 (5.9)
Net cash provided by operating activities 1,073.6 954.9 626.9
CASH FLOWS FROM INVESTING ACTIVITIES:      
Movements in restricted cash 6.2 6.3 (3.9)
Purchases of subsidiary undertakings, net of cash acquired (725.0) (449.6) (83.3)
Payments on foreign exchange contracts related to Movetis NV ("Movetis") acquisition 0 (33.4) 0
Purchases of non-current investments (10.7) (2.9) (0.9)
Purchases of property, plant and equipment ("PPE") (194.3) (326.6) (254.4)
Purchases of intangible assets (5.2) (2.7) (7.0)
Proceeds from disposal of non-current investments and PP&E 106.0 2.3 20.2
Proceeds/deposits received on sales of product rights 12.0 2.0 0
Proceeds from disposal of subsidiary undertakings 0 0 6.7
Returns of equity investments and proceeds from short term investments 1.8 7.2 0.2
Net cash used in investing activities (809.2) (797.4) (322.4)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from drawing of revolving credit facility ("RCF") 30.0 0 0
Repayment of RCF (30.0) 0 0
Repayment of debt acquired with ABH (13.1) 0 0
Payment under building finance obligation (1.5) (2.4) (4.7)
Extinguishment of building finance obligation 0 (43.1) 0
Excess tax benefit of stock based compensation 31.4 6.5 16.8
Proceeds from exercise of options 13.4 11.2 14.6
Payment of facility arrangement costs 0 (8.0) 0
Payment of dividend (73.8) (62.0) (54.4)
Payments to acquire shares by ESOT (151.8) (1.7) (1.0)
Net cash used in financing activities (195.4) (99.5) (28.7)
Effect of foreign exchange rate changes on cash and cash equivalents 0.4 (6.3) 4.9
Net increase in cash and cash equivalents 69.4 51.7 280.7
Cash and cash equivalents at beginning of period 550.6 498.9 218.2
Cash and cash equivalents at end of period 620.0 550.6 498.9
Supplemental information associated with continuing operations:      
Interest paid (33.3) (25.9) (31.9)
Income taxes paid (286.1) (329.2) (223.2)
Non cash investing and financing activities:      
Equity in Vertex Pharmaceuticals, Inc. ("Vertex") received as part consideration for disposal of non-current investment in Virochem Pharma, Inc. ("Virochem") 0 9.1 50.8
Building financing obligation $ 0 $ 0 $ 7.1