BIOGEN INC. (BIIB) FY2024 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-01-01 to 2024-12-31

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BIOGEN INC. cash flow reconciliation, Jan 1, 2024 through Dec 31, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $1,632,200,000.00Depreciation and amortization → Operating adjustments reconciliation: $673,200,000.00Share-based compensation → Operating adjustments reconciliation: $291,200,000.00Amortization of acquired inventory step-up → Operating adjustments reconciliation: $230,000,000.00Accounts receivable → Operating adjustments reconciliation: $222,300,000.00Other → Operating adjustments reconciliation: $159,600,000.00Excess and obsolescence charges related to inventory → Operating adjustments reconciliation: $101,900,000.00(Gain) loss on strategic investments → Operating adjustments reconciliation: $101,400,000.00Income tax assets and liabilities → Operating adjustments reconciliation: $78,500,000.00Impairment of intangible assets → Operating adjustments reconciliation: $60,200,000.00Contingent consideration → Operating adjustments reconciliation: $27,700,000.00Accrued expense and other current liabilities → Operating adjustments reconciliation: $24,600,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,243,300,000.00Operating adjustments reconciliation → Inventory: $273,800,000.00Operating adjustments reconciliation → Other changes in operating assets and liabilities, net: $178,700,000.00Operating adjustments reconciliation → Deferred income taxes: $158,100,000.00Operating adjustments reconciliation → Gain on sale of priority review voucher, net: $88,600,000.00Operating adjustments reconciliation → Due from anti-CD20 therapeutic programs: $28,100,000.00Proceeds from sale of equity interest in Samsung Bioepis → investing reconciliation: $406,800,000.00Proceeds from sales of strategic investments → investing reconciliation: $144,700,000.00Proceeds from sale of priority review voucher, net → investing reconciliation: $88,600,000.00investing reconciliation → Acquisition, net of cash acquired: $1,074,800,000.00investing reconciliation → Acquisitions of intangible assets: $206,100,000.00investing reconciliation → Purchases of property, plant and equipment: $153,700,000.00investing reconciliation → Other: $4,700,000.00Net cash used in financing activities → financing reconciliation: $683,500,000.00financing reconciliation → Repayments of borrowings and premiums paid: $650,000,000.00financing reconciliation → Payments related to issuance of stock for share-based compensation arrangements, net: $31,300,000.00financing reconciliation → Other: $2,200,000.00Net cash used in investing activities → investing reconciliation: $799,200,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $1,049,900,000.00Net cash from operating activities → Cash sources and uses: $2,875,500,000.00Cash sources and uses → Exchange-rate effect: $67,700,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $2,375,000,000.00Cash sources and uses → Net cash used in investing activities: $799,200,000.00Cash sources and uses → Net cash used in financing activities: $683,500,000.00Income tax assets and liabilities: $78,500,000.00Income taxes payable+$78.50 MOther: $159,600,000.00Other non-cash items+$159.60 MAccounts receivable: $222,300,000.00Accounts receivable+$222.30 MDeferred income taxes: -$158,100,000.00Deferred income taxes−$158.10 MGain on sale of building, net: $0.00Other changes in operating assets and liabilities, net: -$178,700,000.00Other operating liabilities−$178.70 MInventory: -$273,800,000.00Inventories−$273.80 MShare-based compensation: $291,200,000.00Stock-based compensation+$291.20 MNet income: $1,632,200,000.00Net income+$1.63 BDue from anti-CD20 therapeutic programs: -$28,100,000.00Other working capital, net−$28.10 M(Gain) loss on equity method investment: $0.00(Gain) loss on strategic investments: $101,400,000.00Equity securities, net+$101.40 MContingent consideration: $27,700,000.00Contingent consideration fair value+$27.70 MExcess and obsolescence charges related to inventory: $101,900,000.00Inventory write-downs+$101.90 MAmortization of acquired inventory step-up: $230,000,000.00Amortization of acquired inventory step-up+$230.00 MGain on sale of equity interest in Samsung Bioepis: $0.00Accrued expense and other current liabilities: $24,600,000.00Accrued liabilities+$24.60 MImpairment of intangible assets: $60,200,000.00Intangible impairments+$60.20 MDepreciation and amortization: $673,200,000.00Depreciation & amortization+$673.20 MGain on sale of priority review voucher, net: -$88,600,000.00Intangible gain & loss−$88.60 MNet cash from operating activities: $2,875,500,000.00Operating cash+$2.88 BOperating adjustments reconciliation: $1,970,600,000.00Repayments of borrowings and premiums paid: -$650,000,000.00Repayments of borrowings and premiums paid−$650.00 MNet (distribution) contribution to noncontrolling interest: $0.00Payments related to issuance of stock for share-based compensation arrangements, net: -$31,300,000.00Stock-award tax withholding−$31.30 MPurchase of treasury stock: $0.00Other: -$2,200,000.00Other financing, net−$2.20 MProceeds from borrowings: $0.00Net cash used in financing activities: -$683,500,000.00. Cash required to fund net payments.Financing cash−$683.50 Mfinancing reconciliation: $683,500,000.00Purchases of marketable securities: $0.00Acquisitions of intangible assets: -$206,100,000.00Intangible asset purchases−$206.10 MProceeds from sales and maturities of marketable securities: $0.00Other: -$4,700,000.00Other investing, net−$4.70 MPurchases of property, plant and equipment: -$153,700,000.00PP&E purchases−$153.70 MProceeds from sales of strategic investments: $144,700,000.00Equity-method investment sales+$144.70 MProceeds from sale of priority review voucher, net: $88,600,000.00PP&E sales+$88.60 MProceeds from sale of building: $0.00Proceeds from sale of equity interest in Samsung Bioepis: $406,800,000.00Divestiture proceeds+$406.80 MAcquisition, net of cash acquired: -$1,074,800,000.00Acquisitions, net of cash−$1.07 BNet cash used in investing activities: -$799,200,000.00. Cash required to fund net payments.Investing cash−$799.20 Minvesting reconciliation: $1,439,300,000.00Cash sources and uses: $3,925,400,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $1,049,900,000.00Beginning cash$1.05 BEnding cash: Cash, cash equivalents, and restricted cash: $2,375,000,000.00Ending cash$2.38 BExchange-rate effect: -$67,700,000.00FX effect−$67.70 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$2.72 BOperating cash − cash spent on PP&ECash flow / Net income1.76×Operating cash flow ÷ net incomeNet cash change+$1.33 BEnding cash − beginning cash
Chart details

BIOGEN INC. cash flow reconciliation, Jan 1, 2024 through Dec 31, 2024

Cash flows for Jan 1, 2024 through Dec 31, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2023. Ending cash: Dec 31, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2023
1,049,900,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
2,875,500,000 US dollars. Net cash provided.
Income tax assets and liabilities
78,500,000 US dollars
Other
159,600,000 US dollars
Accounts receivable
222,300,000 US dollars
Deferred income taxes
negative 158,100,000 US dollars
Gain on sale of building, net
0 US dollars
Other changes in operating assets and liabilities, net
negative 178,700,000 US dollars
Inventory
negative 273,800,000 US dollars
Share-based compensation
291,200,000 US dollars
Net income
1,632,200,000 US dollars
Due from anti-CD20 therapeutic programs
negative 28,100,000 US dollars
(Gain) loss on equity method investment
0 US dollars
(Gain) loss on strategic investments
101,400,000 US dollars
Contingent consideration
27,700,000 US dollars
Excess and obsolescence charges related to inventory
101,900,000 US dollars
Amortization of acquired inventory step-up
230,000,000 US dollars
Gain on sale of equity interest in Samsung Bioepis
0 US dollars
Accrued expense and other current liabilities
24,600,000 US dollars
Impairment of intangible assets
60,200,000 US dollars
Depreciation and amortization
673,200,000 US dollars
Gain on sale of priority review voucher, net
negative 88,600,000 US dollars
Investing activities
negative 799,200,000 US dollars. Net cash used.
Purchases of marketable securities
0 US dollars
Acquisitions of intangible assets
negative 206,100,000 US dollars
Proceeds from sales and maturities of marketable securities
0 US dollars
Other
negative 4,700,000 US dollars
Purchases of property, plant and equipment
negative 153,700,000 US dollars
Proceeds from sales of strategic investments
144,700,000 US dollars
Proceeds from sale of priority review voucher, net
88,600,000 US dollars
Proceeds from sale of building
0 US dollars
Proceeds from sale of equity interest in Samsung Bioepis
406,800,000 US dollars
Acquisition, net of cash acquired
negative 1,074,800,000 US dollars
Financing activities
negative 683,500,000 US dollars. Net cash used.
Repayments of borrowings and premiums paid
negative 650,000,000 US dollars
Net (distribution) contribution to noncontrolling interest
0 US dollars
Payments related to issuance of stock for share-based compensation arrangements, net
negative 31,300,000 US dollars
Purchase of treasury stock
0 US dollars
Other
negative 2,200,000 US dollars
Proceeds from borrowings
0 US dollars
Operating adjustment reconciliation
1,970,600,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
683,500,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
1,439,300,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 67,700,000 US dollars
Ending cash on Dec 31, 2024
2,375,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
3,925,400,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
1,325,100,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.76×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
2,875,500,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
153,700,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
2,721,800,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $1.24B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 2,875,500,000 US dollars minus 153,700,000 US dollars equals 2,721,800,000 US dollars.
BIOGEN INC. (BIIB) FY2024 Annual Statement of Cash Flows Sankey chart
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