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Statement of Cash Flows

Difficulty: Beginner

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 statement of financial position.

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.

Biogen Inc., Consolidated Statement of Cash Flows

USD $ in thousands

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12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Net income 2,670,100  3,695,700  3,593,200  2,941,565  1,862,341 
Depreciation and amortization 1,081,000  682,700  600,400  688,150  531,740 
Acquired in-process research and development 120,000 
Share-based compensation 128,000  154,800  161,400  155,302  136,293 
Deferred income taxes 91,700  (175,000) (145,600) (308,222) (245,077)
Contingent consideration 62,700 
Other 162,100  91,200  82,200  (50,320) (27,612)
Accounts receivable (435,600) (241,400) 29,000  (512,389) (126,753)
Due from anti-CD20 therapeutic programs (232,000) 13,900  (31,100) (30,697) 15,733 
Inventory (94,500) (165,600) (174,400) (185,917) (243,960)
Other assets (76,600) 59,100  (127,000) (94,514) (160,188)
Accrued expenses and other current liabilities (227,400) 570,100  74,200  244,378  284,049 
Income tax assets and liabilities 1,303,900  (232,600) (429,400) 61,000  156,800 
Other liabilities (2,400) 69,500  83,200  33,779  161,712 
Changes in operating assets and liabilities, net 235,400  73,000  (575,500) (484,360) 87,393 
Adjustments to reconcile net income to net cash flows from operating activities 1,880,900  826,700  122,900  550  482,737 
Net cash flows provided by operating activities 4,551,000  4,522,400  3,716,100  2,942,115  2,345,078 
Proceeds from sales and maturities of marketable securities 5,565,900  7,378,900  4,063,000  2,718,923  5,190,052 
Purchases of marketable securities (5,355,200) (7,913,200) (6,864,900) (3,583,150) (3,278,091)
Acquisition of TYSABRI rights (3,262,719)
Contingent consideration related to Fumapharm AG acquisition (1,200,000) (1,200,000) (850,000) (375,000) (15,000)
Acquired in-process research and development (120,000)
Acquisitions of businesses, net of cash acquired (198,800)
Purchases of property, plant and equipment (867,400) (616,100) (643,000) (287,751) (246,281)
Acquisitions of intangible assets (975,400) (111,600) (15,400) (28,200)
Other (11,000) (22,800) (44,500) 12,202  7,371 
Net cash flows used in investing activities (2,963,100) (2,484,800) (4,553,600) (1,542,976) (1,604,668)
Purchase of treasury stock (1,365,400) (1,000,000) (5,000,000) (886,779) (400,309)
Proceeds from (payments related to) issuance of stock for share-based compensation arrangements, net (5,300) 43,700  54,200  54,887  66,770 
Net distribution to noncontrolling interest (134,100) (56,100)
Proceeds from borrowings 5,930,500 
Repayments of borrowings (560,900) (2,700) (2,100) (2,674) (452,340)
Net cash contribution to Bioverativ, Inc. (302,700)
Excess tax benefit from share-based compensation 12,600  78,200  96,376  73,467 
Contingent consideration payments (3,000) (38,600) (13,100) (20,500)
Other (8,600) (2,800) (5,200) 2,817  (4,116)
Net cash flows provided by (used in) financing activities (2,380,000) (987,800) 986,400  (755,873) (716,528)
Effect of exchange rate changes on cash and cash equivalents 39,400  (31,300) (45,800) (40,904) 7,959 
Net increase (decrease) in cash and cash equivalents (752,700) 1,018,500  103,100  602,362  31,841 
Cash and cash equivalents, beginning of the year 2,326,500  1,308,000  1,204,900  602,562  570,721 
Cash and cash equivalents, end of the year 1,573,800  2,326,500  1,308,000  1,204,924  602,562 
Source: Biogen Inc., Annual Reports
Item Description The company
Net cash flows provided by operating activities The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. Biogen Inc.'s net cash flows provided by operating activities increased from 2015 to 2016 and from 2016 to 2017.