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.

Vertex Pharmaceuticals Inc., consolidated cash flow statement

US$ in thousands

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net income (loss)	(535,600)	3,619,600)	3,322,000)	2,342,100)	2,711,647)
Stock-based compensation expense	698,500)	581,200)	491,300)	441,400)	429,461)
Depreciation and amortization expenses	207,200)	181,300)	148,300)	125,600)	109,515)
Deferred income taxes	(348,800)	(536,500)	(275,900)	(154,600)	277,341)
(Gains) losses on equity securities	57,700)	600)	149,100)	(17,100)	(311,937)
Increase (decrease) in fair value of contingent consideration	(500)	(51,600)	(57,500)	(3,100)	13,100)
Other non-cash items, net	(56,300)	8,400)	11,800)	14,400)	78,832)
Accounts receivable, net	(99,300)	(84,100)	(358,600)	(274,700)	(223,444)
Inventories	(517,300)	(322,900)	(136,400)	(92,800)	(132,014)
Prepaid expenses and other assets	(200,300)	(545,700)	(326,400)	(91,800)	(297,562)
Accounts payable	49,500)	48,700)	120,800)	31,900)	51,276)
Accrued expenses	212,900)	429,400)	542,500)	305,400)	122,198)
Other liabilities	39,700)	208,900)	498,900)	16,800)	425,092)
Changes in operating assets and liabilities	(514,800)	(265,700)	340,800)	(105,200)	(54,454)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities	43,000)	(82,300)	807,900)	301,400)	541,858)
Net cash provided by (used in) operating activities	(492,600)	3,537,300)	4,129,900)	2,643,500)	3,253,505)
Purchases of available-for-sale debt securities	(7,438,200)	(3,786,500)	(692,700)	(528,200)	(431,396)
Sales and maturities of available-for-sale debt securities	4,465,600)	839,100)	920,000)	499,300)	372,342)
Purchases of property and equipment	(297,700)	(200,400)	(204,700)	(235,000)	(259,798)
Sale of equity securities	—)	95,100)	—)	—)	437,567)
Net payments related to finite-lived intangible assets	(187,700)	(58,000)	—)	—)	—)
Acquisition of available-for-sale debt securities from Alpine Immune Sciences, Inc.	(258,000)	—)	—)	—)	—)
Payment to acquire ViaCyte, Inc., net of cash acquired	—)	—)	(295,900)	—)	—)
Other investing activities	(54,000)	(31,000)	(47,800)	(77,000)	(19,327)
Net cash (used in) provided by investing activities	(3,770,000)	(3,141,700)	(321,100)	(340,900)	99,388)
Issuances of common stock under benefit plans	114,600)	134,600)	186,300)	102,000)	264,946)
Repurchases of common stock	(1,177,100)	(427,600)	—)	(1,425,400)	(539,136)
Payments in connection with common stock withheld for employee tax obligations	(405,000)	(226,100)	(172,000)	(135,900)	(200,271)
Payments on finance leases	(33,600)	(44,900)	(85,500)	(47,000)	(42,275)
Proceeds from finance leases	—)	—)	—)	22,600)	13,251)
Other financing activities	6,200)	1,800)	3,500)	5,700)	(1,796)
Net cash used in financing activities	(1,494,900)	(562,200)	(67,700)	(1,478,000)	(505,281)
Effect of changes in exchange rates on cash	(42,600)	26,900)	(29,200)	(13,400)	20,552)
Net increase (decrease) in cash, cash equivalents and restricted cash	(5,800,100)	(139,700)	3,711,900)	811,200)	2,868,164)
Cash, cash equivalents and restricted cash, beginning of period	10,372,300)	10,512,000)	6,800,100)	5,988,900)	3,120,681)
Cash, cash equivalents and restricted cash, end of period	4,572,200)	10,372,300)	10,512,000)	6,800,100)	5,988,845)

Based on: 10-K (reporting date: 2024-12-31), 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).

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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.	Vertex Pharmaceuticals Inc. net cash provided by (used in) operating activities decreased from 2022 to 2023 and from 2023 to 2024.
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.	Vertex Pharmaceuticals Inc. net cash (used in) provided by investing activities decreased from 2022 to 2023 and from 2023 to 2024.
Net cash 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.	Vertex Pharmaceuticals Inc. net cash used in financing activities decreased from 2022 to 2023 and from 2023 to 2024.

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)

Cash Flow Statement