XML 27 R6.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 3,785.4 $ 1,029.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 112.6 108.2
Non-cash operating lease cost 21.6 20.7
Stock-based compensation 130.6 108.9
Gain on sale of business (Note 5) (3,337.4) 0.0
Change in fair value of contingent consideration liabilities (Note 9) 0.0 (26.2)
Deferred income taxes (224.9) (180.7)
Gain on remeasurement of previously held interest upon acquisition (Note 8) (24.6) 0.0
Other 2.7 8.8
Changes in operating assets and liabilities:    
Accounts and other receivables, net 15.3 (123.0)
Inventories (204.9) (189.7)
Accounts payable and accrued liabilities 92.6 112.6
Income taxes 301.8 106.3
Prepaid expenses and other current assets 27.4 (63.7)
Intellectual property agreement accrual (24.3) (26.0)
Long-term prepaid royalties (Note 3) 6.2 (111.9)
Other (10.3) (14.8)
Net cash provided by operating activities 669.8 759.2
Cash flows from investing activities    
Capital expenditures (202.6) (164.7)
Purchases of held-to-maturity investments (Note 6) (36.3) (23.5)
Proceeds from held-to-maturity investments (Note 6) 50.4 91.5
Purchases of available-for-sale investments (Note 6) (518.8) (8.4)
Proceeds from available-for-sale investments (Note 6) 539.1 486.9
Investments in intangible assets (25.4) (13.3)
Proceeds from sale of business 3,927.4 0.0
Business combination, net of cash (763.6) (141.2)
Payment for acquisition options (Note 7) (16.2) (15.0)
Issuances of notes receivable (28.0) (47.5)
Other (36.4) (5.1)
Net cash provided by investing activities 2,889.6 159.7
Cash flows from financing activities    
Purchases of treasury stock (1,059.3) (431.2)
Equity forward contract related to accelerated share repurchase agreement (Note 12) (100.0) 0.0
Proceeds from stock plans 150.9 136.7
Other (3.2) (3.3)
Net cash used in financing activities (1,011.6) (297.8)
Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash (12.4) 20.2
Net increase in cash, cash equivalents, and restricted cash 2,535.4 641.3
Cash, cash equivalents, and restricted cash at beginning of period 1,148.0 772.6
Cash, cash equivalents, and restricted cash at end of period (Note 2) $ 3,683.4 $ 1,413.9