← BOSTON SCIENTIFIC CORP
| 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) Available to Common Stockholders, Basic | $347.0m | $104.0m | $1.7b | $4.7b | ($115.0m) | $985.0m | $642.0m | $1.6b | $1.9b | $2.9b | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | — | — | — | — | — | $1.0m | ($8.0m) | ($6.0m) | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $347.0m | $104.0m | $1.7b | $4.7b | ($82.0m) | $1.0b | $698.0m | $1.6b | $1.8b | $2.9b | |
| Amortization of Intangible Assets | $545.0m | $565.0m | $599.0m | $699.0m | $789.0m | $741.0m | $803.0m | $828.0m | $856.0m | $897.0m | |
| Depreciation | $270.0m | $279.0m | $296.0m | $311.0m | $333.0m | $352.0m | $333.0m | $367.0m | $412.0m | $471.0m | |
| Depreciation, Depletion and Amortization | $815.0m | $844.0m | $894.0m | $1.0b | $1.1b | $1.1b | $1.1b | $1.2b | $1.3b | $1.4b | |
| Inventory step-up amortization | $22.0m | $10.0m | $6.0m | $46.0m | $58.0m | $34.0m | $32.0m | $6.0m | $51.0m | $132.0m | |
| Deferred Income Tax Expense (Benefit) | ($343.0m) | $244.0m | ($162.0m) | ($4.3b) | ($85.0m) | ($142.0m) | ($7.0m) | $73.0m | ($90.0m) | ($12.0m) | |
| Fixed asset and right-of-use asset impairment | — | — | — | — | — | — | — | $27.0m | $72.0m | $124.0m | |
| Goodwill and other intangible asset impairment charges | $11.0m | $4.0m | $35.0m | $105.0m | $533.0m | $370.0m | $132.0m | $58.0m | $386.0m | $46.0m | |
| Goodwill, Impairment Loss | $0 | — | — | — | $73.0m | $0 | $0 | — | — | — | |
| Impairment of Intangible Assets (Excluding Goodwill) | $11.0m | $4.0m | $35.0m | $105.0m | $460.0m | $370.0m | $132.0m | $58.0m | $386.0m | $46.0m | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $11.0m | $4.0m | $35.0m | $105.0m | $533.0m | $370.0m | $132.0m | $58.0m | $386.0m | $46.0m | |
| Proceeds from issuances of shares of common stock pursuant to employee stock compensation and purchase plans | — | — | $101.0m | $123.0m | $111.0m | $110.0m | $136.0m | $182.0m | $230.0m | $282.0m | |
| Share-based Payment Arrangement, Noncash Expense | $116.0m | $127.0m | $140.0m | $157.0m | $170.0m | $194.0m | $220.0m | $233.0m | $266.0m | $299.0m | |
| Gain (Loss) on Disposition of Business | — | — | — | — | — | $78.0m | ($22.0m) | $0 | $0 | — | |
| Gain (Loss) on Disposition of Property Plant Equipment | $11.0m | — | — | — | — | — | — | — | — | — | |
| Gain (Loss) on Extinguishment of Debt | — | — | — | $86.0m | — | — | — | $0 | $0 | — | |
| Income Tax Expense (Benefit) | ($170.0m) | $828.0m | ($249.0m) | ($4.0b) | $2.0m | $36.0m | $443.0m | $393.0m | $436.0m | $493.0m | |
| Other Nonoperating Income (Expense) | ($37.0m) | ($124.0m) | $156.0m | ($358.0m) | $362.0m | $218.0m | ($38.0m) | ($93.0m) | ($321.0m) | ($228.0m) | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Accounts payable, accrued expenses and other liabilities | $553.0m | $195.0m | ($631.0m) | $111.0m | $88.0m | $408.0m | ($255.0m) | $118.0m | $243.0m | $296.0m | |
| Cash provided by (used for) financing activities | ($206.0m) | $110.0m | $1.4b | $3.0b | $293.0m | ($95.0m) | ($548.0m) | $5.0m | $1.8b | ($395.0m) | |
| Cash provided by (used for) investing activities | ($887.0m) | ($1.0b) | ($1.9b) | ($5.0b) | ($411.0m) | ($1.6b) | ($2.0b) | ($2.6b) | ($5.7b) | ($2.6b) | |
| Cash used to net share settle employee equity awards | ($62.0m) | ($65.0m) | ($56.0m) | ($65.0m) | ($59.0m) | ($50.0m) | ($53.0m) | ($56.0m) | ($87.0m) | ($131.0m) | |
| Contingent consideration net expense (benefit) | $29.0m | ($80.0m) | ($21.0m) | ($35.0m) | ($100.0m) | ($136.0m) | $35.0m | $58.0m | ($5.0m) | $18.0m | |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $0 | — | — | $8.0m | $0 | $78.0m | ($22.0m) | $0 | $0 | — | |
| Fair value of contingent consideration recorded in purchase accounting | $50.0m | $94.0m | $248.0m | $127.0m | $0 | $440.0m | $0 | $273.0m | $29.0m | $258.0m | |
| Foreign Currency Transaction Gain (Loss), before Tax | ($13.0m) | — | — | — | — | — | — | — | — | — | |
| Gain (Loss) on Investments | ($21.0m) | ($92.0m) | $155.0m | ($30.0m) | $398.0m | $250.0m | ($1.0m) | ($59.0m) | ($79.0m) | $139.0m | |
| Goodwill | $6.7b | $7.0b | $7.9b | $10.2b | $10.0b | $12.0b | $12.9b | $14.4b | $17.1b | $18.3b | |
| Increase (Decrease) in Accounts Receivable | $216.0m | $30.0m | $110.0m | $130.0m | ($335.0m) | $279.0m | $220.0m | $238.0m | $351.0m | $269.0m | |
| Increase (Decrease) in Inventories | ($40.0m) | $107.0m | $83.0m | $290.0m | $65.0m | $346.0m | $321.0m | $660.0m | $228.0m | $188.0m | |
| Inventories | $40.0m | ($107.0m) | ($83.0m) | ($290.0m) | ($65.0m) | ($346.0m) | ($321.0m) | ($660.0m) | ($228.0m) | ($188.0m) | |
| Net increase (decrease) in commercial paper | $0 | $1.2b | $21.0m | ($575.0m) | ($714.0m) | $0 | ($1.0m) | ($4.0m) | $187.0m | ($196.0m) | |
| Net loss (gain) on investments and notes receivable | $21.0m | $92.0m | ($155.0m) | $30.0m | ($398.0m) | ($250.0m) | $1.0m | $59.0m | $79.0m | ($139.0m) | |
| Noncash transactions related to finance lease obligations | — | — | — | — | — | — | — | $0 | $122.0m | $205.0m | |
| Nonoperating Income (Expense) | ($270.0m) | ($353.0m) | ($85.0m) | ($831.0m) | $1.0m | ($123.0m) | ($508.0m) | ($358.0m) | — | — | |
| Operating Expenses | $5.5b | $5.2b | $5.5b | $6.1b | $6.5b | $7.0b | $7.1b | $7.6b | $8.9b | $10.2b | |
| Other assets | ($253.0m) | ($20.0m) | ($172.0m) | $45.0m | ($200.0m) | ($134.0m) | ($209.0m) | $10.0m | ($126.0m) | ($85.0m) | |
| Other, net | ($12.0m) | $27.0m | ($3.0m) | $63.0m | $213.0m | $51.0m | $125.0m | $73.0m | $74.0m | $7.0m | |
| Payment of contingent consideration previously established in purchase accounting | — | — | ($19.0m) | ($66.0m) | ($49.0m) | ($15.0m) | ($335.0m) | ($39.0m) | ($131.0m) | ($62.0m) | |
| Payments for finance leases | — | — | — | — | — | — | $0 | $0 | ($25.0m) | ($258.0m) | |
| Payments for investments and acquisitions of certain technologies | ($132.0m) | ($131.0m) | ($172.0m) | ($149.0m) | ($146.0m) | $279.0m | ($24.0m) | ($89.0m) | ($280.0m) | ($254.0m) | |
| Payments on short-term borrowings | — | $0 | $0 | ($1.0b) | ($3.0b) | $0 | ($250.0m) | $0 | ($504.0m) | ($1.6b) | |
| Stock-based compensation expense | $116.0m | $127.0m | $140.0m | $157.0m | $170.0m | $194.0m | $220.0m | $233.0m | $266.0m | $299.0m | |
| Trade accounts receivable | ($216.0m) | ($30.0m) | ($110.0m) | ($130.0m) | $335.0m | ($279.0m) | ($220.0m) | ($238.0m) | ($351.0m) | ($269.0m) | |
| Unrealized Gain (Loss) on Investments | $21.0m | $92.0m | ($155.0m) | $30.0m | $363.0m | ($178.0m) | $178.0m | $59.0m | $79.0m | ($139.0m) | |
| Other Operating Income (Expense), Net | — | — | — | — | ($362.0m) | ($218.0m) | $38.0m | $93.0m | $16.0m | — | |
| Net Cash Provided by (Used in) Operating Activities | $972.0m | $1.4b | $310.0m | $1.8b | $1.5b | $1.9b | $1.5b | $2.5b | $3.4b | $4.5b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $376.0m | $319.0m | $316.0m | $461.0m | $376.0m | $554.0m | $588.0m | $711.0m | $790.0m | $876.0m | |
| Payments for acquisitions of businesses, net of cash acquired | ($408.0m) | ($560.0m) | ($1.4b) | ($4.4b) | ($3.0m) | ($2.3b) | ($1.5b) | ($1.8b) | ($4.6b) | ($1.6b) | |
| Payments to Acquire Businesses, Net of Cash Acquired | $408.0m | $560.0m | $1.4b | $4.4b | $3.0m | $2.3b | $1.5b | $1.8b | $4.6b | $1.6b | |
| Payments to Acquire Investments | $132.0m | $131.0m | $172.0m | $149.0m | $146.0m | — | — | — | — | — | |
| Payments for (Proceeds from) Other Investing Activities | $0 | — | — | — | ($87.0m) | ($82.0m) | ($70.0m) | ($30.0m) | ($20.0m) | ($84.0m) | |
| Net Cash Provided by (Used in) Investing Activities | ($887.0m) | ($1.0b) | ($1.9b) | ($5.0b) | ($411.0m) | ($1.6b) | ($2.0b) | ($2.6b) | ($5.7b) | ($2.6b) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from long-term borrowings, net of debt issuance costs | $0 | $0 | $987.0m | $7.2b | $1.7b | $0 | $3.3b | $0 | $2.1b | $1.6b | |
| Repayments of Long-term Debt | $250.0m | $1.0b | $602.0m | $3.6b | — | — | — | — | — | — | |
| Proceeds from Issuance of Common Stock | $111.0m | $85.0m | $101.0m | $123.0m | $975.0m | $0 | $0 | $182.0m | $230.0m | $282.0m | |
| Payments for Repurchase of Common Stock | $0 | — | — | — | $535.0m | $0 | $0 | — | — | — | |
| Dividends paid | — | — | — | — | $28.0m | $55.0m | $55.0m | $28.0m | $0 | — | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | — | — | — | — | — | — | $7.0m | |
| Net Cash Provided by (Used in) Financing Activities | ($206.0m) | $110.0m | $1.4b | $3.0b | $293.0m | ($95.0m) | ($548.0m) | $5.0m | $1.8b | ($395.0m) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($2.0m) | $4.0m | ($8.0m) | $10.0m | ($2.0m) | ($6.0m) | ($9.0m) | ($4.0m) | ($11.0m) | $42.0m | |
| Effect of foreign exchange rates on cash | ($2.0m) | $4.0m | ($8.0m) | $10.0m | ($2.0m) | ($6.0m) | ($9.0m) | ($4.0m) | ($11.0m) | $42.0m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $87.0m | $530.0m | ($188.0m) | ($222.0m) | $1.4b | $173.0m | ($1.0b) | ($70.0m) | ($450.0m) | $1.5b | |
| Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | $87.0m | $530.0m | ($188.0m) | ($222.0m) | $1.4b | $173.0m | ($1.0b) | ($70.0m) | ($450.0m) | $1.5b | |
| Cash and cash equivalents | $196.0m | $188.0m | $146.0m | $217.0m | — | $1.9b | $928.0m | $865.0m | $414.0m | $2.0b | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $87.0m | $530.0m | $829.0m | $607.0m | $2.0b | $2.2b | $1.1b | $1.1b | $606.0m | $2.1b | |
| Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period | $400.0m | $487.0m | $829.0m | $607.0m | $2.0b | $2.2b | $1.1b | $1.1b | $606.0m | $2.1b | |
| Restricted cash and restricted cash equivalents included in Other current assets | $269.0m | $803.0m | $655.0m | $346.0m | — | $188.0m | $149.0m | $130.0m | $111.0m | $80.0m | |
| Restricted cash equivalents included in Other long-term assets | $22.0m | $26.0m | $27.0m | $43.0m | — | $55.0m | $48.0m | $60.0m | $80.0m | $103.0m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $233.0m | $235.0m | $262.0m | $449.0m | $359.0m | $338.0m | $450.0m | $259.0m | $250.0m | $319.0m | |
| Income Taxes Paid, Net | $94.0m | $42.0m | $1.0b | $242.0m | $207.0m | $302.0m | $662.0m | $512.0m | $656.0m | $561.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.