DEXCOM INC
For the period ended Dec 31, 2023. Filed Feb 8, 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 8, 2024
DXCM$79.92-1.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
DexCom, Inc.
Consolidated Statements of Cash Flows
| Twelve Months EndedDecember 31, | |||||
|---|---|---|---|---|---|
| 2023 · 2022 · 2021 | |||||
| (In millions) | |||||
| Operating activities | |||||
| Net income | $541.5 | $341.2 | $216.9 | ||
| Adjustments to reconcile net income to cash provided by operating activities: | |||||
| Depreciation and amortization | 186.0 | 155.9 | 102.0 | ||
| Share-based compensation | 150.8 | 126.5 | 113.4 | ||
| Collaborative research and development fee | — | — | 87.1 | ||
| Loss on extinguishment of debt | — | — | 0.1 | ||
| Non-cash interest expense | 7.8 | 6.3 | 7.2 | ||
| Realized (gain) loss on equity investment | (1.9) | (0.2) | (11.6) | ||
| Deferred income taxes | (55.0) | (21.6) | 15.8 | ||
| Other non-cash income and expenses | (83.9) | 34.7 | 43.6 | ||
| Changes in operating assets and liabilities: | |||||
| Accounts receivable, net | (260.1) | (199.9) | (75.5) | ||
| Inventory | (252.6) | 49.3 | (112.2) | ||
| Prepaid and other assets | 19.3 | (131.6) | (21.3) | ||
| Operating lease right-of-use assets and liabilities, net | (4.5) | (5.8) | (0.1) | ||
| Accounts payable and accrued liabilities | 466.5 | 295.1 | 58.0 | ||
| Accrued payroll and related expenses | 37.2 | 8.5 | 10.4 | ||
| Deferred revenue and other liabilities | (2.6) | 11.1 | 8.7 | ||
| Net cash provided by operating activities | 748.5 | 669.5 | 442.5 | ||
| Investing activities | |||||
| Purchase of marketable securities | (3,200.4) | (2,266.3) | (2,473.1) | ||
| Proceeds from sale and maturity of marketable securities | 2,947.4 | 2,127.8 | 2,666.3 | ||
| Purchases of property and equipment | (236.6) | (364.8) | (389.2) | ||
| Acquisitions, net of cash acquired | — | (3.9) | (30.2) | ||
| Other investing activities | (17.6) | (14.3) | 10.1 | ||
| Net cash used in investing activities | (507.2) | (521.5) | (216.1) | ||
| Financing activities | |||||
| Net proceeds from issuance of common stock | 26.6 | 22.5 | 20.3 | ||
| Purchases of treasury stock | (688.7) | (557.7) | — | ||
| Proceeds from issuance of convertible notes, net of issuance costs | 1,230.6 | — | — | ||
| Purchases of capped call transactions | (101.3) | — | — | ||
| Payments for conversions of senior convertible notes | (787.3) | — | — | ||
| Other financing activities | 1.5 | (17.3) | (9.9) | ||
| Net cash provided by (used in) financing activities | (318.6) | (552.5) | 10.4 | ||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 1.5 | (5.8) | (1.4) | ||
| Increase (decrease) in cash, cash equivalents and restricted cash | (75.8) | (410.3) | 235.4 | ||
| Cash, cash equivalents and restricted cash, beginning of period | 643.3 | 1,053.6 | 818.2 | ||
| Cash, cash equivalents and restricted cash, end of period | $567.5 | $643.3 | $1,053.6 | ||
| Reconciliation of cash, cash equivalents and restricted cash, end of period: | |||||
| Cash and cash equivalents | $566.3 | $642.3 | $1,052.6 | ||
| Restricted cash | 1.2 | 1.0 | 1.0 | ||
| Total cash, cash equivalents and restricted cash | $567.5 | $643.3 | $1,053.6 | ||
| Twelve Months EndedDecember 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental disclosure of non-cash investing and financing transactions: | |||
| Shares issued for repurchase and conversions of senior convertible notes | $1,501.9 | $35.9 | $157.7 |
| Shares received under note hedge upon conversion of 2023 Notes | $(1,490.3) | $(33.5) | $(130.8) |
| Acquisition of property and equipment included in accounts payable and accrued liabilities | $53.2 | $25.7 | $45.4 |
| Supplemental cash flow information: | |||
| Cash paid during the year for interest | $12.4 | $12.2 | $11.6 |
| Cash paid during the year for income taxes | $212.3 | $114.2 | $16.8 |
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