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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 2,154.3 $ 1,786.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 234.8 202.6
Stock-based compensation expense 453.3 440.7
(Gains) losses on marketable and other securities, net (196.5) 197.5
Other non-cash items, net (2.9) 29.2
Deferred income taxes (308.5) (425.8)
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable (47.3) 207.4
Increase in inventories (337.6) (147.2)
Increase in prepaid expenses and other assets (604.2) (8.9)
Increase (decrease) in deferred revenue 206.0 (50.4)
Increase in accounts payable, accrued expenses, and other liabilities 315.1 158.7
Total adjustments (287.8) 603.8
Net cash provided by operating activities 1,866.5 2,390.0 Close
Cash flows from investing activities:    
Purchases of marketable and other securities (10,073.4) (6,271.1)
Sales or maturities of marketable and other securities 8,186.7 4,061.5
Capital expenditures (314.4) (291.2)
Proceeds from sale of property, plant, and equipment 20.1 0.0
Payments for Libtayo intangible asset (58.3) (121.8)
Acquisitions, net of cash acquired (5.0) 0.0
Net cash used in investing activities (2,244.3) (2,622.6) Close
Cash flows from financing activities:    
Proceeds from issuance of Common Stock 1,119.7 575.9
Payments in connection with Common Stock tendered for employee tax obligations (655.5) (113.1)
Repurchases of Common Stock (895.2) (1,399.5)
Net cash used in financing activities (431.0) (936.7) Close
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (0.8) (0.4) Close
Net decrease in cash, cash equivalents, and restricted cash (809.6) (1,169.7) Close
Cash, cash equivalents, and restricted cash at beginning of period 2,737.8 3,119.4
Cash, cash equivalents, and restricted cash at end of period $ 1,928.2 $ 1,949.7