Cash Flow Statement

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.

Bristol-Myers Squibb Co., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net earnings (loss)	8,040)	6,345)	7,014)	(8,995)	3,460)
Depreciation and amortization, net	9,760)	10,276)	10,686)	10,380)	1,746)
Deferred income taxes	(3,288)	(2,738)	(1,393)	983)	(924)
Stock-based compensation	518)	457)	583)	779)	441)
Impairment charges	255)	179)	1,207)	1,203)	199)
Divestiture gains and royalties	(884)	(1,063)	(684)	(699)	(1,855)
Acquired IPRD	913)	815)	1,157)	12,537)	25)
Equity investment (gains) losses, net	160)	801)	(745)	(1,228)	(279)
Contingent consideration fair value adjustments	(8)	(9)	(542)	(1,757)	523)
Other adjustments	308)	232)	177)	(134)	1,666)
Receivables	(995)	(663)	(1,054)	(646)	752)
Inventories	(751)	(69)	13)	2,672)	463)
Accounts payable	198)	109)	245)	188)	229)
Rebates and discounts	904)	427)	863)	1,189)	591)
Income taxes payable	(603)	(1,423)	(1,063)	(2,305)	907)
Other	(667)	(610)	(257)	(115)	123)
Changes in operating assets and liabilities	(1,914)	(2,229)	(1,253)	983)	3,065)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities	5,820)	6,721)	9,193)	23,047)	4,607)
Net cash provided by operating activities	13,860)	13,066)	16,207)	14,052)	8,067)
Sale and maturities of marketable debt securities	733)	6,411)	4,196)	6,280)	3,809)
Purchase of marketable debt securities	(1,774)	(3,592)	(5,478)	(4,172)	(3,961)
Proceeds from sales of equity investment securities	215)	218)	2,579)	129)	167)
Capital expenditures	(1,209)	(1,118)	(973)	(753)	(836)
Divestiture and other proceeds	909)	1,305)	748)	741)	15,685)
Acquisition and other payments, net of cash acquired	(1,169)	(4,286)	(1,610)	(13,084)	(24,634)
Net cash used in investing activities	(2,295)	(1,062)	(538)	(10,859)	(9,770)
Short-term debt obligations, net	(120)	194)	(160)	(267)	131)
Issuance of long-term debt	4,455)	5,926)	—)	6,945)	26,778)
Repayment of long-term debt	(3,879)	(11,431)	(6,022)	(2,750)	(9,256)
Repurchase of common stock	(5,155)	(8,001)	(6,287)	(1,546)	(7,300)
Dividends	(4,744)	(4,634)	(4,396)	(4,075)	(2,679)
Stock option proceeds and other, net	27)	984)	641)	542)	(53)
Net cash provided by (used in) financing activities	(9,416)	(16,962)	(16,224)	(1,151)	7,621)
Effect of exchange rates on cash, cash equivalents and restricted cash	45)	(33)	(102)	111)	(9)
Increase (decrease) in cash, cash equivalents and restricted cash	2,194)	(4,991)	(657)	2,153)	5,909)
Cash, cash equivalents and restricted cash at beginning of year	9,325)	14,316)	14,973)	12,820)	6,911)
Cash, cash equivalents and restricted cash at end of year	11,519)	9,325)	14,316)	14,973)	12,820)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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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.	Bristol-Myers Squibb Co. net cash provided by operating activities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Net cash used in 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.	Bristol-Myers Squibb Co. net cash used in investing activities decreased from 2021 to 2022 and from 2022 to 2023.
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.	Bristol-Myers Squibb Co. net cash provided by (used in) financing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Bristol-Myers Squibb Co. (NYSE:BMY)

Cash Flow Statement