Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Moderna Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income (loss)	(4,714)	8,362)	12,202)	(747)	(514)
Stock-based compensation	305)	226)	142)	93)	81)
Depreciation and amortization	621)	348)	232)	31)	31)
Leased assets expensed	—)	—)	—)	62)	—)
Amortization/accretion of investments	(61)	31)	54)	10)	(4)
Loss on equity investments, net	35)	—)	—)	—)	—)
Deferred income taxes	828)	(559)	(318)	—)	—)
Other non-cash items	7)	28)	—)	—)	—)
Accounts receivable, net	493)	1,790)	(1,784)	(1,385)	7)
Prepaid expenses and other assets	974)	(1,699)	(489)	(241)	10)
Inventory	747)	492)	(1,394)	(47)	—)
Right-of-use assets, operating leases	(605)	21)	(58)	(11)	(6)
Accounts payable	13)	240)	204)	12)	(24)
Accrued liabilities	(340)	612)	989)	388)	(3)
Deferred revenue	(2,060)	(4,157)	2,824)	3,842)	(44)
Income taxes payable	15)	(828)	876)	—)	—)
Operating lease liabilities	551)	(14)	17)	12)	13)
Other liabilities	73)	88)	123)	6)	(6)
Changes in assets and liabilities, net of acquisition of business	(139)	(3,455)	1,308)	2,577)	(54)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	1,596)	(3,381)	1,418)	2,774)	55)
Net cash provided by (used in) operating activities	(3,118)	4,981)	13,620)	2,027)	(459)
Purchases of marketable securities	(3,760)	(11,435)	(12,652)	(2,956)	(1,145)
Proceeds from maturities of marketable securities	5,575)	3,151)	1,338)	1,137)	993)
Proceeds from sales of marketable securities	3,206)	3,548)	3,105)	215)	169)
Purchases of property, plant and equipment	(707)	(400)	(284)	(67)	(32)
Acquisition of business, net of cash acquired	(85)	—)	—)	—)	—)
Investment in convertible notes and equity securities	(23)	(40)	(30)	—)	—)
Net cash (used in) provided by investing activities	4,206)	(5,176)	(8,523)	(1,672)	(15)
Proceeds from offerings of common stock, net of issuance costs	—)	—)	—)	1,853)	—)
Proceeds from issuance of common stock through equity plans	46)	65)	124)	187)	50)
Repurchase of common stock, including excise tax	(1,153)	(3,329)	(857)	—)	—)
Charges to financing lease liabilities	(270)	(184)	(140)	(6)	1)
Net cash provided by (used in) financing activities	(1,377)	(3,448)	(873)	2,033)	51)
Net increase (decrease) in cash, cash equivalents and restricted cash	(289)	(3,643)	4,224)	2,388)	(423)
Cash, cash equivalents and restricted cash, beginning of year	3,217)	6,860)	2,636)	248)	670)
Cash, cash equivalents and restricted cash, end of year	2,928)	3,217)	6,860)	2,636)	248)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Cash flow statement item	Description	The company
Net cash provided by (used in) operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Moderna Inc. net cash provided by (used in) operating activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash (used in) provided by investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Moderna Inc. net cash (used in) provided by investing activities increased from 2021 to 2022 and from 2022 to 2023.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Moderna Inc. net cash provided by (used in) financing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Moderna Inc. (NASDAQ:MRNA)

Cash Flow Statement