Amgen Inc. (AMGN)


Cash Flow Statement
Quarterly Data

Low level of difficulty

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company’s balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Amgen Inc., consolidated cash flow statement (quarterly data)

US$ in millions

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3 months ended Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Net income 1,968  2,179  1,992  1,928  1,859  2,296  2,311  (4,264) 2,021  2,151  2,071  1,935  2,017  1,870  1,900  1,800  1,863  1,653  1,623  1,294  1,244  1,547  1,073 
Depreciation, amortization and other 508  501  495  490  501  484  471  449  464  518  524  559  503  522  521  542  523  519  524  525  543  506  518 
Stock-based compensation expense —  —  —  87  77  93  54  85  88  96  60  89  83  87  52  80  82  90  70  106  103  112  87 
Deferred income taxes (102) (20) (50) (69) (180) (42) (72) (951) (199) (103) (77) 103  (165) 313  (68) (356) (125) (126) —  (404) 188  108  — 
Other items, net 137  24  (26) 378  (10) 44  (47) 272  94  15  (61) 51  (93) 135  (178) 13  (241) 144  (153) (99) (8)
Trade receivables, net 165  (21) (207) (144) 114  36  (384) 171  162  (344) (47) (22) (73) (21) (98) (118) (103) (190) (9) (209) 345  (180) 180 
Inventories 17  (90) (28) 90  42  (28) (107) 187  36  35  (125) 45  31  (23) (133) 197  88  145  51  228  59  43  (3)
Other assets (111) 91  (249) 145  122  (97) (135) 86  84  (39) (155) 207  (5) (81) (249) (37) 107  224  (139) 119  (109) 170  (181)
Accounts payable (93) (112) 168  18  (51) (278) 474  (7) (23) (20) 103  (47) 50  (150) 115  142  43  (312) 301  (21) 33  92 
Accrued income taxes, net 129  (534) 277  23  (70) (667) 353  475  168  (388) 268  (161) 188  (322) (6) 31  109  284  85  221  (193) (83) (48)
Long-term tax liabilities 60  (422) 100  54  70  71  63  6,367  128  62  124  —  —  —  —  —  —  —  —  —  —  —  — 
Other liabilities 597  (185) (397) 448  342  17  407  (20) 237  267  (253) 303  79  375  11  (16) 181  159  (323) 120  735  70  (568)
Changes in operating assets and liabilities, net of acquisitions 866  (1,254) (616) 784  638  (719) (81) 7,740  808  (430) (208) 475  173  (22) (625) 172  524  665  (647) 780  816  53  (528)
Net cash provided by operating activities 3,377  1,414  1,845  3,194  3,273  2,102  2,727  3,012  3,454  2,326  2,385  3,100  2,662  2,677  1,915  2,060  2,874  2,814  1,329  2,445  2,741  2,227  1,142 
Purchases of marketable securities (1,812) (352) (6,898) (6,124) (5,884) (4,001) (2,732) (6,946) (7,417) (12,167) (7,077) (5,412) (7,713) (6,374) (8,595) (6,185) (6,262) (6,599) (6,931) (5,047) (5,238) (12,709) (2,884)
Proceeds from sales of marketable securities 2,802  92  125  297  4,336  7,029  16,694  5,660  4,155  8,813  5,612  3,886  5,009  5,165  3,898  6,245  3,763  3,022  4,999  5,637  1,923  7,326  1,811 
Proceeds from maturities of marketable securities 4,824  3,162  10,455  1,531  2,888  93  900  1,409  1,481  1,756  1,528  527  593  881  458  348  679  1,299  1,201  237  667  2,338  957 
Cash paid for acquisitions, net of cash acquired (177) —  —  (2) —  —  197  (19) —  —  —  —  —  —  —  (359) —  —  —  (50) —  (11) (104)
Purchases of property, plant and equipment (170) (144) (116) (225) (171) (187) (155) (153) (158) (185) (168) (227) (167) (188) (156) (205) (138) (133) (118) (203) (170) (173) (172)
Change in restricted investments —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  862  (329)
Other (95) (13) (11) (114) (37) (29) (37) (30) (52) (111) (141) (77) (45) 52  (103) (200) (85) (91) (44)
Net cash (used in) provided by investing activities 5,372  2,745  3,555  (4,637) 1,132  2,938  14,906  (78) (1,976) (1,813) (157) (1,222) (2,389) (657) (4,390) (233) (2,003) (2,359) (952) 374  (2,903) (2,458) (765)
Net proceeds from issuance of debt —  —  —  —  —  —  —  991  —  3,485  —  605  3,805  (1) 2,909  —  3,464  —  —  —  4,476  — 
Repayment of debt (864) (2,650) (1,000) (621) —  (500) —  —  —  (3,800) (605) (1,000) (1,725) (875) (125) (125) (125) (2,025) (125) (2,125) (125) (3,230) (125)
Net change in commercial paper —  —  —  —  —  —  —  (1,499) 540  959  —  —  —  —  —  —  —  —  —  —  —  —  — 
Repurchases of common stock (1,161) (2,415) (3,032) (2,124) (1,729) (3,244) (10,697) (789) (809) (976) (586) (983) (764) (542) (676) (183) (744) (476) (464) (138) —  —  — 
Dividends paid (868) (880) (901) (840) (851) (865) (951) (834) (838) (846) (847) (747) (747) (752) (752) (596) (599) (602) (599) (464) (464) (463) (460)
Settlement of contingent consideration obligation —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (28) —  —  (225) (92) —  —  — 
Other 34  (47) (54) 17  —  (41) (44) (3) —  (64) (73) 13  (116) (129) 22  28  115  169  54  76  113  90 
Net cash provided by (used in) financing activities (2,859) (5,992) (4,987) (3,568) (2,580) (4,650) (11,692) (2,134) (1,107) (1,242) (2,111) (2,122) 582  (2,286) 1,227  (909) (1,440) 476  (1,244) (2,765) (513) 896  (495)
Increase (decrease) in cash and cash equivalents 5,890  (1,833) 413  (5,011) 1,825  390  5,941  800  371  (729) 117  (244) 855  (266) (1,248) 918  (569) 931  (867) 54  (675) 665  (118)

Based on: 10-Q (filing date: 2019-10-30), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-31), 10-Q (filing date: 2018-07-27), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-05-02), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-11-02), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-04-27), 10-K (filing date: 2015-02-19), 10-Q (filing date: 2014-10-29), 10-Q (filing date: 2014-08-05), 10-Q (filing date: 2014-04-30).

Cash flow statement item Description The company
Net cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Amgen Inc.’s net cash provided by operating activities declined from Q1 2019 to Q2 2019 but then increased from Q2 2019 to Q3 2019 exceeding Q1 2019 level.
Net cash (used in) provided by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Amgen Inc.’s net cash (used in) provided by investing activities declined from Q1 2019 to Q2 2019 but then increased from Q2 2019 to Q3 2019 exceeding Q1 2019 level.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Amgen Inc.’s net cash provided by (used in) financing activities declined from Q1 2019 to Q2 2019 but then increased from Q2 2019 to Q3 2019 exceeding Q1 2019 level.