Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company 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.
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Amgen Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net Income (Loss)
- The net income exhibits significant volatility throughout the periods, with peaks generally around the third quarter of most years. Notable declines occur in mid-2021 and early 2024, including a negative figure in the first quarter of 2024. The latest quarters show large recoveries after these downturns.
- Depreciation, Amortization and Other
- This expense remains relatively stable across the years, typically fluctuating slightly around the 840 to 900 million mark, with a distinct increase starting in the first quarter of 2024, reaching levels close to 1400 million, indicating an increase in non-cash expenses.
- Impairment of Intangible Assets
- No reported impairments until the last quarter of 2024, where a substantial charge of 800 million appears, suggesting a significant write-down of intangible assets late in the analysis period.
- Stock-based Compensation Expense
- Beginning in 2022, this expense shows variability with spikes particularly in the third and fourth quarters of 2023, reflecting fluctuations in stock-based compensation costs.
- Deferred Income Taxes
- Deferred income taxes generally show negative adjustments, especially pronounced from the third quarter of 2021 onwards, with large negative fluctuations indicating changes in tax assets or liabilities. The extremes are in the fourth quarter of 2023 and multiple quarters in 2024.
- Acquired In-Process Research and Development
- This appears as a one-time charge of 1505 million in the second quarter of 2021, indicating a significant acquisition or investment in research and development during that period.
- Adjustments for Equity Method Investments
- The adjustments fluctuate considerably with both positive and negative values across quarters, indicating variability in the company’s equity investees' performance or valuations over time.
- Loss on Divestiture
- Reported only in the third quarter of 2021 with a large loss of 560 million and minor losses following, suggesting a major divestiture activity in 2021.
- (Gains) Losses on Equity Securities
- These figures show volatile gains and losses, including significant gains in early 2023 and notable losses in several quarters indicating active portfolio management with varying performance outcomes.
- Other Items, Net
- Reported items fluctuate widely across quarters with no clear trend, indicating miscellaneous operational or financial adjustments impacting the overall results.
- Noncash Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
- These adjustments display volatility with notable spikes in the second quarter of 2021 and fourth quarter of 2023, affecting cash flow reconciliation significantly during those periods.
- Trade Receivables, Net
- Fluctuations are irregular with both positive and negative significant changes, reflecting varied collection periods or sales timing impacts on working capital.
- Inventories
- Inventory levels fluctuate with periods of buildup, notably in mid to late 2023 and early 2024 suggesting operational changes or supply chain adjustments.
- Other Assets
- Changes are inconsistent without a discernible trend, indicating episodic adjustments or shifts in other asset categories.
- Accounts Payable
- Accounts payable show considerable variability with both increases and decreases across the periods, impacting working capital management dynamically.
- Accrued Income Taxes, Net
- The accrued income taxes show extreme fluctuations, possibly reflecting tax payment timings or adjustments to tax liabilities, with periods of large negative balances in mid-2021 and early 2024.
- Long-Term Tax Liabilities
- Generally stable with occasional dips and rises, indicating steady long-term tax obligations except for a notable negative spike in mid-2024.
- Accrued Liabilities
- Reported only in later quarters, fluctuates between large positive and negative shifts, implying changes in expense recognition or obligations over time.
- Accrued Sales Incentives and Allowance
- Shows significant activity starting in 2022, with large positive and negative movements reflecting adjustments in sales incentive accruals and allowances affecting operating cash flows.
- Other Liabilities
- These liabilities experience volatility with alternating positive and negative changes, suggesting episodic adjustments to other obligations.
- Changes in Operating Assets and Liabilities, Net of Acquisitions
- The changes show notable swings including large positive changes toward the end of 2024, indicating significant operating cash flow effects from working capital movements and other asset/liability adjustments.
- Net Cash Provided by Operating Activities
- Operating cash flow demonstrates robust performance with occasional dips, notably sharp declines in early 2023 and 2024, but recovery follows, underscoring overall operational cash generation strength despite volatility.
- Purchases of Marketable Securities
- High variability with substantial purchases during certain periods such as early 2021 and sporadic inactivity later, showing changes in investment strategy or liquidity management.
- Proceeds from Sales and Maturities of Marketable Securities
- Collections from sales and maturities fluctuate widely, with several large proceeds in mid-2021 and early 2023, indicating tactical portfolio rebalancing.
- Purchases of Property, Plant and Equipment
- Capital expenditures are steady with small variations; increases noted toward the end of the period, widely reflecting ongoing investment in fixed assets.
- Cash Paid for Acquisitions, Net of Cash Acquired
- Significant acquisition outflows occur in mid-2021 and dramatically increase in the fourth quarter of 2023, consistent with large-scale business combinations or asset purchases.
- Net Cash Provided by (Used in) Investing Activities
- The investing cash flow changes dramatically across periods, including a large negative spike in late 2023 due to acquisitions and a rebound in early 2023, indicating fluctuations in investment and divestment activities.
- Net Proceeds from Issuance of Debt
- Debt issuance peaks notably in the first quarter of 2024 with a large inflow, accompanied by smaller, irregular issuances in other periods, supporting funding needs.
- Extinguishment and Repayment of Debt
- Debt repayments occur sporadically with considerable repayments in late 2021 through 2024; extinguishments of debt are also recorded, contributing to net financing cash outflows at times.
- Repurchases of Common Stock
- Significant stock buybacks occur mainly in early periods through 2021, with a substantial deceleration afterward, reflecting changing capital allocation priorities.
- Dividends Paid
- Stable and consistent dividend payments are evident, with gradual increases annually, indicating a commitment to returning capital to shareholders.
- Net Cash Provided by (Used in) Financing Activities
- Financing activities show large swings with significant inflows particularly in early 2024 but also substantial outflows in other periods, demonstrating active management of capital structure and shareholder distributions.
- Increase (Decrease) in Cash and Cash Equivalents
- Cash balances display pronounced volatility, including large increases especially in early 2023, followed by sharp declines notably in late 2023 and throughout 2024, mirroring the variability in operational, investing, and financing cash flows.