← THERMO FISHER SCIENTIFIC 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 | $2.0b | $2.2b | $2.9b | $3.7b | $6.4b | $7.7b | $7.0b | $6.0b | $6.3b | $6.7b | |
| Net Income (Loss) Available to Common Stockholders, Basic | $2.0b | $2.2b | $2.9b | $3.7b | $6.4b | $7.7b | $7.0b | $6.0b | $6.3b | $6.7b | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $2.0b | $2.2b | $2.9b | $3.7b | — | — | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ($3.5m) | ($3.0m) | $0 | $0 | — | — | — | — | — | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | — | — | — | $3.0m | $10.0m | ($40.0m) | $3.0m | $17.0m | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | $7.7b | $7.0b | $6.0b | $6.3b | $6.7b | |
| Amortization of Intangible Assets | $1.4b | $1.6b | $1.7b | $1.7b | $1.7b | $1.8b | $2.4b | $2.3b | $2.0b | $1.7b | |
| Amortization of acquisition-related intangible assets | — | $1.6b | $1.7b | $1.7b | $1.7b | $1.8b | $2.4b | $2.3b | $2.0b | $1.7b | |
| Depreciation | $380.0m | $439.0m | $526.0m | $564.0m | $658.0m | $831.0m | $986.0m | $1.1b | $1.2b | $1.1b | |
| Depreciation of property, plant and equipment | — | $439.0m | $526.0m | $564.0m | $658.0m | $831.0m | $986.0m | $1.1b | $1.2b | $1.1b | |
| Depreciation, Depletion and Amortization | $1.8b | $2.0b | $2.3b | $564.0m | $658.0m | $831.0m | $986.0m | $1.1b | $1.2b | $1.1b | |
| Change in deferred income taxes | ($620.0m) | ($1.1b) | ($379.0m) | ($302.0m) | ($552.0m) | ($647.0m) | ($995.0m) | ($1.3b) | ($1.2b) | ($639.0m) | |
| Deferred Income Tax Expense (Benefit) | ($639.3m) | ($1.7b) | ($474.0m) | ($499.0m) | ($269.0m) | ($645.0m) | ($997.0m) | ($1.3b) | ($1.2b) | ($639.0m) | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | — | — | — | $122.0m | — | — | — | — | |
| Share-based Payment Arrangement, Noncash Expense | $133.5m | $159.0m | $181.0m | $181.0m | $196.0m | $230.0m | $307.0m | $278.0m | $301.0m | $310.0m | |
| Gain (Loss) on Disposition of Property Plant Equipment | ($4.6m) | $439.0m | $526.0m | $564.0m | $658.0m | $831.0m | $986.0m | $1.1b | $1.2b | $1.1b | |
| Gain (Loss) on Extinguishment of Debt | ($9.0m) | ($4.0m) | — | ($184.0m) | $0 | ($767.0m) | ($26.0m) | $0 | — | — | |
| Income (Loss) from Equity Method Investments | — | — | — | — | — | ($4.0m) | ($172.0m) | ($59.0m) | ($42.0m) | ($41.0m) | |
| Income Tax Expense (Benefit) | ($1.4m) | $201.0m | $324.0m | $374.0m | $850.0m | $1.1b | $703.0m | $284.0m | $657.0m | $547.0m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $1.4b | $1.4b | |
| Other Nonoperating Income (Expense) | ($4.1m) | ($28.0m) | $9.0m | ($72.0m) | ($81.0m) | ($694.0m) | ($104.0m) | ($65.0m) | $12.0m | ($12.0m) | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Accounts payable | $55.5m | $274.0m | $201.0m | $266.0m | $59.0m | $479.0m | $648.0m | ($500.0m) | $212.0m | $421.0m | |
| Accounts receivable | ($352.2m) | ($362.0m) | ($366.0m) | ($225.0m) | ($1.3b) | ($204.0m) | ($430.0m) | ($43.0m) | ($171.0m) | ($426.0m) | |
| Acquisitions, net of cash acquired | ($5.2b) | ($7.2b) | ($536.0m) | ($1.8b) | ($38.0m) | ($19.4b) | ($39.0m) | ($3.7b) | ($3.1b) | ($4.0b) | |
| Contract assets/liabilities | — | — | — | — | — | $221.0m | ($354.0m) | $252.0m | ($162.0m) | ($375.0m) | |
| Contributions to retirement plans | ($42.7m) | ($200.0m) | ($93.0m) | ($50.0m) | ($96.0m) | ($34.0m) | ($41.0m) | ($42.0m) | ($45.0m) | ($42.0m) | |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $0 | — | — | $482.0m | $0 | $0 | — | — | — | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | $19.0m | ($31.0m) | $19.0m | $52.0m | $24.0m | $25.0m | $62.0m | ($67.0m) | $0 | ($130.0m) | |
| Gain (Loss) Related to Litigation Settlement | ($24.0m) | $27.0m | — | — | — | — | — | — | — | — | |
| Gain (Loss) on Investments | $12.5m | $17.0m | ($15.0m) | $44.0m | $10.0m | $66.0m | ($161.0m) | ($46.0m) | $21.0m | $13.0m | |
| Goodwill | $21.3b | $25.3b | $25.3b | $25.7b | $26.0b | $41.9b | $41.2b | $44.0b | $45.9b | $49.4b | |
| Increase (Decrease) in Accounts Payable | $55.5m | $274.0m | $201.0m | $266.0m | $59.0m | $479.0m | $648.0m | ($500.0m) | $212.0m | $421.0m | |
| Increase (Decrease) in Accounts Receivable | $352.2m | $362.0m | $366.0m | $225.0m | $1.3b | $204.0m | $430.0m | $43.0m | $171.0m | $426.0m | |
| Increase (Decrease) in Inventories | ($97.8m) | $81.0m | $324.0m | $458.0m | $508.0m | $1.1b | $825.0m | ($598.0m) | $27.0m | $74.0m | |
| Inventories | $97.8m | ($81.0m) | ($324.0m) | ($458.0m) | ($508.0m) | ($1.1b) | ($825.0m) | $598.0m | ($27.0m) | ($74.0m) | |
| Investment Income, Interest | $48.4m | $81.0m | $137.0m | $224.0m | $65.0m | $43.0m | $272.0m | $879.0m | $1.1b | $993.0m | |
| Other | — | — | $12.0m | ($198.0m) | $1.5b | ($724.0m) | ($401.0m) | ($802.0m) | ($186.0m) | ($1.3b) | |
| Other net non-cash expenses | $66.8m | $103.0m | $106.0m | $84.0m | $340.0m | $190.0m | $524.0m | $604.0m | $508.0m | $455.0m | |
| Payments of Financing Costs | — | — | — | — | $51.0m | $36.0m | — | — | — | — | |
| Proceeds from Stock Options Exercised | $87.3m | $128.0m | $136.0m | $153.0m | $196.0m | $156.0m | — | — | — | — | |
| Proceeds from cross-currency interest rate swap interest settlements | — | — | — | — | — | $8.0m | $15.0m | $70.0m | $252.0m | $268.0m | |
| Proceeds from issuance of commercial paper | $9.2b | $8.4b | $5.1b | $2.8b | $383.0m | $2.5b | $1.5b | $1.6b | $0 | $1.1b | |
| Repayments of commercial paper | ($8.3b) | ($8.5b) | ($5.3b) | ($3.5b) | ($387.0m) | $0 | ($3.7b) | ($1.9b) | $0 | ($1.1b) | |
| Stock or Unit Option Plan Expense | $41.3m | $53.0m | $57.0m | — | — | — | — | — | — | — | |
| Stock-based compensation | $133.5m | $159.0m | $181.0m | $181.0m | $196.0m | $230.0m | $307.0m | $278.0m | $301.0m | $310.0m | |
| Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | ($6.1m) | ($7.0m) | — | — | — | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $3.3b | $4.0b | $4.5b | $5.0b | $8.3b | $9.3b | $9.2b | $8.4b | $8.7b | $7.8b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $444.4m | $508.0m | $758.0m | $926.0m | $1.5b | $2.5b | $2.2b | $1.5b | $1.4b | $1.5b | |
| Payments to Acquire Businesses, Net of Cash Acquired | $5.2b | $7.2b | $536.0m | $1.8b | $38.0m | $19.4b | $39.0m | $3.7b | $3.1b | $4.0b | |
| Payments to Acquire Investments | — | — | — | — | — | — | — | — | $3.4b | $383.0m | |
| Purchases of investments | — | — | — | — | — | — | ($52.0m) | ($208.0m) | ($3.4b) | ($383.0m) | |
| Proceeds from sales and maturities of investments | — | — | — | — | — | — | $116.0m | $15.0m | $1.8b | $1.6b | |
| Other investing activities, net | ($5.3m) | ($24.0m) | ($9.0m) | $118.0m | ($6.0m) | ($34.0m) | $99.0m | ($160.0m) | $8.0m | $21.0m | |
| Payments for (Proceeds from) Other Investing Activities | $5.3m | $24.0m | $9.0m | ($118.0m) | $6.0m | $34.0m | ($99.0m) | $160.0m | ($8.0m) | ($21.0m) | |
| Net Cash Provided by (Used in) Investing Activities | ($5.5b) | ($7.7b) | ($1.3b) | ($1.5b) | ($1.5b) | ($21.9b) | ($2.2b) | ($5.1b) | ($5.8b) | ($4.0b) | |
| Cash flows from financing activities: | |||||||||||
| Net proceeds from issuance of debt | $7.6b | $6.5b | $690.0m | $5.6b | $3.5b | $18.1b | $3.2b | $5.9b | $1.2b | $7.8b | |
| Proceeds from Issuance of Long-term Debt | $7.6b | $6.5b | $690.0m | $5.6b | $3.5b | $18.1b | $3.2b | $5.9b | $1.2b | $7.8b | |
| Repayment of debt | ($4.3b) | ($3.3b) | ($2.1b) | ($6.4b) | ($713.0m) | ($11.7b) | ($375.0m) | ($5.8b) | ($3.6b) | ($2.4b) | |
| Repayments of Long-term Debt | $4.3b | $3.3b | $2.1b | $6.4b | $713.0m | $11.7b | $375.0m | $5.8b | $3.6b | $2.4b | |
| Proceeds from Issuance of Common Stock | $0 | $1.7b | $0 | $0 | — | — | — | — | — | — | |
| Payments for Repurchase of Common Stock | $1.2b | $750.0m | $500.0m | $1.5b | $1.5b | $2.0b | $3.0b | $3.0b | $4.0b | $3.0b | |
| Payments of Ordinary Dividends, Common Stock | $238.4m | $237.0m | $266.0m | $297.0m | $337.0m | $395.0m | $455.0m | $523.0m | $583.0m | $636.0m | |
| Purchases of company common stock | ($1.2b) | ($750.0m) | ($500.0m) | ($1.5b) | ($1.5b) | ($2.0b) | ($3.0b) | ($3.0b) | ($4.0b) | ($3.0b) | |
| Dividends Payable | $60.1m | $61.0m | $69.0m | $77.0m | $89.0m | $104.0m | $119.0m | $137.0m | $150.0m | $164.0m | |
| Dividends paid | ($238) | ($237) | ($266) | ($297) | ($337) | ($395) | ($455) | ($523) | ($583) | ($636) | |
| Other financing activities, net | ($13.7m) | ($3.0m) | ($51.0m) | ($69.0m) | ($147.0m) | ($91.0m) | ($9.0m) | $56.0m | $195.0m | $90.0m | |
| Proceeds from (Payments for) Other Financing Activities | ($13.7m) | ($3.0m) | ($51.0m) | ($69.0m) | ($147.0m) | ($91.0m) | ($9.0m) | $56.0m | $195.0m | $90.0m | |
| Net Cash Provided by (Used in) Financing Activities | $2.9b | $3.9b | ($2.2b) | ($3.1b) | $959.0m | $6.6b | ($2.8b) | ($3.6b) | ($6.8b) | $1.8b | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($150.7m) | $420.0m | ($297.0m) | ($63.0m) | $176.0m | $194.0m | ($139.0m) | ($82.0m) | ($91.0m) | $267.0m | |
| Exchange rate effect on cash | ($150.7m) | $420.0m | ($297.0m) | ($63.0m) | $176.0m | $194.0m | ($139.0m) | ($82.0m) | ($91.0m) | $267.0m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($150.7m) | $550.0m | $756.0m | $305.0m | $7.9b | ($5.8b) | $4.0b | ($440.0m) | ($4.1b) | $5.8b | |
| Increase/(decrease) in cash, cash equivalents and restricted cash | $345.0m | $550.0m | $756.0m | $305.0m | $7.9b | ($5.8b) | $4.0b | ($440.0m) | ($4.1b) | $5.8b | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $345.0m | $1.4b | $2.1b | $2.4b | $10.3b | $4.5b | $8.5b | $8.1b | $4.0b | $9.9b | |
| Cash, cash equivalents and restricted cash at beginning of year | $811.0m | $1.4b | $2.1b | $2.4b | $10.3b | $4.5b | $8.5b | $8.1b | $4.0b | $9.9b | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | $533.0m | $687.0m | $790.0m | $471.0m | $555.0m | $667.0m | $1.4b | $1.6b | $1.6b | |
| Income Taxes Paid, Net | — | — | — | — | — | — | — | — | — | $1.8b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.