← BIOGEN INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $3.7b | $2.5b | $4.4b | $5.9b | $4.0b | $1.6b | $3.0b | $1.2b | $1.6b | $1.3b | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $3.7b | $2.7b | $4.5b | $5.9b | $4.1b | $1.7b | $3.0b | $1.2b | $1.6b | $1.3b | |
| Net Income (Loss) Attributable to Noncontrolling Interest | ($7.1m) | $131.0m | $43.3m | $0 | $59.9m | $171.5m | ($85.3m) | $400k | $0 | $0 | |
| Depreciation, Depletion and Amortization | $682.7m | $1.1b | $1.0b | $680.6m | $457.2m | $487.7m | $518.4m | $494.8m | $673.2m | $779.9m | |
| Depreciation | $309.3m | $266.3m | $269.4m | $190.6m | $201.9m | $235.3m | $272.4m | $254.2m | $286.7m | $272.8m | |
| Amortization of Intangible Assets | $385.6m | $814.7m | $381.2m | $274.0m | $255.1m | $252.0m | $246.3m | $240.6m | $386.5m | $507.1m | |
| Deferred Income Tax Expense (Benefit) | ($175.0m) | $91.7m | $108.3m | $67.1m | $149.0m | ($426.8m) | ($168.6m) | ($305.8m) | ($158.1m) | $361.6m | |
| Share-based Payment Arrangement, Noncash Expense | $154.8m | $128.0m | $157.5m | $182.3m | $198.3m | $238.6m | $254.1m | $264.2m | $291.2m | $290.8m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | $5.3m | $2.1m | — | — | $700k | $1.9m | $44.3m | $31.3m | $10.0m | |
| Share-based Payment Arrangement, Expense | $169.4m | $138.1m | $168.7m | $191.2m | ($204.5m) | ($246.6m) | ($263.5m) | ($274.4m) | ($301.5m) | — | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | $366.1m | $215.9m | $209.7m | $629.3m | $119.6m | $0 | $60.2m | $7.9m | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | — | — | $215.9m | $209.7m | — | $119.6m | $0 | $40.0m | $7.9m | |
| Operating Lease, Impairment Loss | — | — | — | — | — | — | — | — | — | $52.9m | |
| Equity Method Investment, Realized Gain (Loss) on Disposal | — | — | — | — | — | — | $1.5b | $0 | $0 | — | |
| Gain (Loss) on Disposition of Intangible Assets | — | — | — | — | — | — | — | — | $88.6m | $0 | |
| Gain (Loss) on Disposition of Property Plant Equipment | ($616.1m) | ($867.4m) | ($770.6m) | ($514.5m) | ($424.8m) | ($258.1m) | $503.7m | $0 | $0 | ($153.8m) | |
| Income (Loss) from Equity Method Investments | $0 | $0 | $0 | ($79.4m) | $3.3m | $34.9m | $2.6m | $0 | $0 | — | |
| Income Tax Expense (Benefit) | $1.2b | $2.5b | $1.4b | $1.2b | $992.3m | $52.5m | $632.8m | $135.3m | $273.8m | $263.6m | |
| Other Nonoperating Income (Expense) | ($217.4m) | ($13.1m) | ($10.5m) | ($47.0m) | $2.9m | ($5.6m) | $10.1m | $3.5m | $29.6m | ($24.7m) | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | $241.4m | $435.6m | $205.2m | ($68.8m) | ($2.8m) | ($324.8m) | $203.4m | ($61.3m) | ($222.3m) | ($102.7m) | |
| Increase (Decrease) in Inventories | $165.6m | $94.5m | $52.1m | $19.2m | $316.3m | $462.4m | $320.2m | $130.9m | $273.8m | $64.7m | |
| Proceeds from Stock Options Exercised | — | $700k | $800k | $400k | $700k | — | — | — | — | — | |
| Equity Securities, FV-NI, Gain (Loss) | — | — | — | $200.1m | $693.9m | ($821.1m) | $264.7m | $275.2m | $100.4m | $19.7m | |
| Equity Securities, FV-NI, Realized Gain (Loss) | — | — | — | ($50.0m) | $12.1m | $10.3m | $0 | $5.2m | ($2.0m) | $1.5m | |
| Equity Securities, FV-NI, Unrealized Gain (Loss) | — | — | — | $150.1m | $681.8m | ($831.4m) | $264.7m | $270.0m | $102.4m | $18.2m | |
| Foreign Currency Transaction Gain (Loss), before Tax | ($9.8m) | $6.3m | ($9.9m) | ($7.0m) | ($10.7m) | ($22.4m) | $35.5m | $50.4m | $30.9m | $28.6m | |
| Goodwill | $3.7b | $4.6b | $5.7b | $5.8b | $5.8b | $5.8b | $5.7b | $6.2b | $6.5b | $6.5b | |
| Inventory Write-down | $48.2m | $76.9m | $41.9m | $52.2m | $26.6m | $167.6m | $336.2m | $124.4m | $101.9m | $29.2m | |
| Investment Income, Interest | $63.4m | $78.5m | $112.5m | $120.0m | $42.0m | $11.0m | $89.3m | $276.5m | $67.6m | $125.0m | |
| Nonoperating Income (Expense) | — | ($215.4m) | $11.0m | $83.3m | $497.4m | ($1.1b) | $108.2m | ($315.5m) | ($343.6m) | ($305.6m) | |
| Pension Cost (Reversal of Cost) | — | — | — | — | — | — | — | — | $17.5m | $16.8m | |
| Realized Investment Gains (Losses) | — | — | — | — | $12.1m | — | — | — | — | — | |
| Restructuring Costs | $10.3m | — | — | — | — | — | — | — | — | — | |
| Unrealized Gain (Loss) on Investments | — | — | ($124.8m) | ($147.3m) | ($681.8m) | $826.8m | $265.9m | $277.1m | $101.4m | $19.3m | |
| Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | $4.0m | ($31.5m) | ($41.8m) | $115.0m | — | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $4.5b | $4.6b | $6.2b | $7.1b | $4.2b | $3.6b | $1.4b | $1.5b | $2.9b | $2.2b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $616.1m | $867.4m | $770.6m | $514.5m | $424.8m | $258.1m | $240.3m | $277.0m | $153.7m | $153.8m | |
| Payments to Acquire Businesses, Net of Cash Acquired | $0 | $0 | — | $744.4m | — | — | — | $6.9b | $1.1b | — | |
| Gain (Loss) on Sale of Investments | $6.0m | ($36.3m) | $119.5m | $204.7m | $685.7m | ($824.9m) | $277.3m | $291.2m | $100.4m | $19.7m | |
| Payments for (Proceeds from) Other Investing Activities | $22.8m | $11.0m | ($400k) | ($27.0m) | $26.9m | ($12.9m) | ($24.4m) | $11.3m | $4.7m | ($42.9m) | |
| Net Cash Provided by (Used in) Investing Activities | ($2.5b) | ($3.0b) | ($2.0b) | $470.5m | ($608.6m) | ($563.7m) | $1.6b | ($4.1b) | ($799.2m) | ($1.4b) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | — | — | — | — | $3.0b | $0 | $0 | $997.2m | $0 | $1.7b | |
| Repayments of Long-term Debt | — | — | — | — | — | — | — | — | — | $1.8b | |
| Payments for Repurchase of Common Stock | $1.0b | $1.4b | $4.4b | $5.9b | $6.7b | $1.8b | $750.0m | $0 | $0 | — | |
| Proceeds from (Payments to) Noncontrolling Interests | — | — | — | — | — | ($94.4m) | $12.4m | $12.3m | $0 | $0 | |
| Proceeds from (Payments for) Other Financing Activities | ($2.8m) | ($8.6m) | ($19.5m) | $3.6m | $14.6m | ($21.1m) | ($5.6m) | ($6.0m) | ($2.2m) | $5.0m | |
| Net Cash Provided by (Used in) Financing Activities | ($987.8m) | ($2.4b) | ($4.5b) | ($5.9b) | ($5.3b) | ($2.1b) | ($1.7b) | $149.3m | ($683.5m) | ($301.9m) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($31.3m) | — | ($18.6m) | $400k | $69.0m | ($59.8m) | ($55.7m) | $35.1m | ($67.7m) | $101.9m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | $1.3b | $2.3b | $3.4b | $1.0b | $2.4b | $3.0b | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $281.2m | $281.7m | $243.2m | $244.2m | $272.7m | $280.8m | $262.5m | $252.2m | $245.4m | $264.1m | |
| Income Taxes Paid, Net | $1.6b | $1.1b | $1.0b | $1.1b | $906.7m | $247.9m | $932.9m | $740.7m | $355.1m | $864.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.