BRISTOL MYERS SQUIBB CO
For the period ended Dec 31, 2023. Filed Feb 13, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 13, 2024
BMY$62.80+1.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
Dollars in millions
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash Flows From Operating Activities: | |||
| Net earnings | $8,040 | $6,345 | $7,014 |
| Adjustments to reconcile net earnings/(loss) to net cash provided by operating activities: | |||
| Depreciation and amortization, net | 9,760 | 10,276 | 10,686 |
| Deferred income taxes | (3,288) | (2,738) | (1,393) |
| Stock-based compensation | 518 | 457 | 583 |
| Impairment charges | 255 | 179 | 1,207 |
| Divestiture gains and royalties | (884) | (1,063) | (684) |
| Acquired IPRD | 913 | 815 | 1,159 |
| Equity investment losses/(gains), net | 160 | 801 | (745) |
| Contingent consideration fair value adjustments | (8) | (9) | (542) |
| Other adjustments | 308 | 232 | 183 |
| Changes in operating assets and liabilities: | |||
| Receivables | (995) | (663) | (1,054) |
| Inventories | (751) | (69) | 13 |
| Accounts payable | 198 | 109 | 245 |
| Rebates and discounts | 904 | 427 | 863 |
| Income taxes payable | (603) | (1,423) | (1,063) |
| Other | (667) | (610) | (265) |
| Net Cash Provided by Operating Activities | 13,860 | 13,066 | 16,207 |
| Cash Flows From Investing Activities: | |||
| Sale and maturities of marketable debt securities | 733 | 6,411 | 4,196 |
| Purchase of marketable debt securities | (1,774) | (3,592) | (5,478) |
| Proceeds from sales of equity investment securities | 215 | 218 | 2,579 |
| Capital expenditures | (1,209) | (1,118) | (973) |
| Divestiture and other proceeds | 909 | 1,305 | 748 |
| Acquisition and other payments, net of cash acquired | (1,169) | (4,286) | (1,610) |
| Net Cash Used in Investing Activities | (2,295) | (1,062) | (538) |
| Cash Flows From Financing Activities: | |||
| Short-term debt obligations, net | (120) | 194 | (160) |
| Issuance of long-term debt | 4,455 | 5,926 | — |
| Repayment of long-term debt | (3,879) | (11,431) | (6,022) |
| Repurchase of common stock | (5,155) | (8,001) | (6,287) |
| Dividends | (4,744) | (4,634) | (4,396) |
| Stock option proceeds and other, net | 27 | 984 | 641 |
| Net Cash Used in Financing Activities | (9,416) | (16,962) | (16,224) |
| Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash | 45 | (33) | (102) |
| Increase/(Decrease) in Cash, Cash Equivalents and Restricted Cash | 2,194 | (4,991) | (657) |
| Cash, Cash Equivalents and Restricted Cash at Beginning of Year | 9,325 | 14,316 | 14,973 |
| Cash, Cash Equivalents and Restricted Cash at End of Year | $11,519 | $9,325 | $14,316 |
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