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.

Bristol-Myers Squibb Co., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net earnings (loss)	(8,933)	8,040)	6,345)	7,014)	(8,995)
Depreciation and amortization, net	9,600)	9,760)	10,276)	10,686)	10,380)
Deferred income taxes	(2,089)	(3,288)	(2,738)	(1,393)	983)
Stock-based compensation	507)	518)	457)	583)	779)
Impairment charges	2,963)	255)	179)	1,207)	1,203)
Divestiture gains and royalties	(1,119)	(884)	(1,063)	(684)	(699)
Acquired IPRD	13,373)	913)	815)	1,157)	12,537)
Equity investment (gains) losses, net	(16)	160)	801)	(745)	(1,228)
Other adjustments	94)	300)	223)	(365)	(1,891)
Receivables	264)	(995)	(663)	(1,054)	(646)
Inventories	(486)	(751)	(69)	13)	2,672)
Accounts payable	184)	198)	109)	245)	188)
Rebates and discounts	1,484)	904)	427)	863)	1,189)
Income taxes payable	(1,260)	(603)	(1,423)	(1,063)	(2,305)
Other	624)	(667)	(610)	(257)	(115)
Changes in operating assets and liabilities	810)	(1,914)	(2,229)	(1,253)	983)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities	24,123)	5,820)	6,721)	9,193)	23,047)
Net cash provided by operating activities	15,190)	13,860)	13,066)	16,207)	14,052)
Sale and maturities of marketable debt securities	1,122)	733)	6,411)	4,196)	6,280)
Purchase of marketable debt securities	(769)	(1,774)	(3,592)	(5,478)	(4,172)
Proceeds from sales of equity investments	265)	215)	218)	2,579)	129)
Capital expenditures	(1,248)	(1,209)	(1,118)	(973)	(753)
Divestiture and other proceeds	1,099)	909)	1,305)	748)	741)
Acquisition and other payments, net of cash acquired	(21,821)	(1,169)	(4,286)	(1,610)	(13,084)
Net cash used in investing activities	(21,352)	(2,295)	(1,062)	(538)	(10,859)
Proceeds from issuance of short-term debt obligations	2,987)	—)	—)	—)	—)
Repayments of short-term debt obligations	(3,000)	—)	—)	—)	—)
Other short-term financing obligations, net	99)	(120)	194)	(160)	(267)
Proceeds from issuance of long-term debt	12,883)	4,455)	5,926)	—)	6,945)
Repayment of long-term debt	(2,873)	(3,879)	(11,431)	(6,022)	(2,750)
Repurchase of common stock	—)	(5,155)	(8,001)	(6,287)	(1,546)
Dividends	(4,863)	(4,744)	(4,634)	(4,396)	(4,075)
Stock option proceeds and other, net	(106)	27)	984)	641)	542)
Net cash provided by (used in) financing activities	5,127)	(9,416)	(16,962)	(16,224)	(1,151)
Effect of exchange rates on cash, cash equivalents and restricted cash	(137)	45)	(33)	(102)	111)
Increase (decrease) in cash, cash equivalents and restricted cash	(1,172)	2,194)	(4,991)	(657)	2,153)
Cash, cash equivalents and restricted cash at beginning of year	11,519)	9,325)	14,316)	14,973)	12,820)
Cash, cash equivalents and restricted cash at end of year	10,347)	11,519)	9,325)	14,316)	14,973)

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 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.	Bristol-Myers Squibb Co. net cash provided by operating activities increased from 2022 to 2023 and from 2023 to 2024.
Net cash used in 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.	Bristol-Myers Squibb Co. net cash used in investing activities decreased from 2022 to 2023 and from 2023 to 2024.
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.	Bristol-Myers Squibb Co. net cash provided by (used in) financing activities increased from 2022 to 2023 and from 2023 to 2024.

Bristol-Myers Squibb Co. (NYSE:BMY)

Cash Flow Statement