BOSTON SCIENTIFIC CORPORATION (BSX) FY2025 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-01-01 to 2025-12-31

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BOSTON SCIENTIFIC CORPORATION cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025One 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. Calculated remaining financing cash flows are purple; remaining operating and investing bundles are gray. Their underlying inflows and outflows are not separately identified. 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 (loss) → Net cash from operating activities: $2,892,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $1,368,000,000.00Stock-based compensation expense → Operating adjustments reconciliation: $299,000,000.00Accounts payable, accrued expenses and other liabilities → Operating adjustments reconciliation: $296,000,000.00Inventory step-up amortization → Operating adjustments reconciliation: $132,000,000.00Fixed asset and right-of-use asset impairment → Operating adjustments reconciliation: $124,000,000.00Goodwill and other intangible asset impairment charges → Operating adjustments reconciliation: $46,000,000.00Other, net → Operating adjustments reconciliation: $42,000,000.00Contingent consideration net expense (benefit) → Operating adjustments reconciliation: $18,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,642,000,000.00Operating adjustments reconciliation → Trade accounts receivable: $269,000,000.00Operating adjustments reconciliation → Inventories: $188,000,000.00Operating adjustments reconciliation → Net loss (gain) on investments and notes receivable: $139,000,000.00Operating adjustments reconciliation → Other assets: $85,000,000.00Operating adjustments reconciliation → Deferred and prepaid income taxes: $2,000,000.00Other, net → investing reconciliation: $84,000,000.00investing reconciliation → Payments for acquisitions of businesses, net of cash acquired: $1,593,000,000.00investing reconciliation → Purchases of property, plant and equipment and internal use software: $876,000,000.00investing reconciliation → Payments for investments and acquisitions of certain technologies: $254,000,000.00investing reconciliation → Remaining investing cash flows, net (calculated): $1,000,000.00Net cash used in financing activities → financing reconciliation: $395,000,000.00Proceeds from long-term borrowings, net of debt issuance costs → financing reconciliation: $1,558,000,000.00Proceeds from issuances of shares of common stock pursuant to employee stock compensation and purchase plans → financing reconciliation: $282,000,000.00Other, net → financing reconciliation: $7,000,000.00financing reconciliation → Payments on short-term borrowings: $1,595,000,000.00financing reconciliation → Payments for finance leases: $258,000,000.00financing reconciliation → Net increase (decrease) in commercial paper: $196,000,000.00financing reconciliation → Cash used to net share settle employee equity awards: $131,000,000.00financing reconciliation → Payment of contingent consideration previously established in purchase accounting: $62,000,000.00Net cash used in investing activities → investing reconciliation: $2,640,000,000.00Exchange-rate effect → Cash sources and uses: $42,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $606,000,000.00Net cash from operating activities → Cash sources and uses: $4,534,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $2,147,000,000.00Cash sources and uses → Net cash used in investing activities: $2,640,000,000.00Cash sources and uses → Net cash used in financing activities: $395,000,000.00Net loss (gain) on investments and notes receivable: -$139,000,000.00Investment gain & loss−$139.00 MOther assets: -$85,000,000.00Other operating assets−$85.00 MTrade accounts receivable: -$269,000,000.00Accounts receivable−$269.00 MInventories: -$188,000,000.00Inventories−$188.00 MContingent consideration net expense (benefit): $18,000,000.00Contingent consideration change+$18.00 MDepreciation and amortization: $1,368,000,000.00Depreciation & amortization+$1.37 BInventory step-up amortization: $132,000,000.00Inventory step-up amortization+$132.00 MNet income (loss): $2,892,000,000.00Net income (loss)+$2.89 BOther, net: $42,000,000.00Other operating, net+$42.00 MGoodwill and other intangible asset impairment charges: $46,000,000.00Indefinite intangible impairment+$46.00 MStock-based compensation expense: $299,000,000.00Stock-based compensation+$299.00 MDeferred and prepaid income taxes: -$2,000,000.00Deferred & prepaid income taxes−$2.00 MAccounts payable, accrued expenses and other liabilities: $296,000,000.00Payables & accrued liabilities+$296.00 MFixed asset and right-of-use asset impairment: $124,000,000.00PP&E impairments+$124.00 MNet cash from operating activities: $4,534,000,000.00Operating cash+$4.53 BOperating adjustments reconciliation: $2,325,000,000.00Payment of contingent consideration previously established in purchase accounting: -$62,000,000.00Contingent consideration paid−$62.00 MPayments for finance leases: -$258,000,000.00Finance lease payments−$258.00 MPayments on short-term borrowings: -$1,595,000,000.00Short-term debt repaid−$1.60 BNet increase (decrease) in commercial paper: -$196,000,000.00Commercial paper, net−$196.00 MProceeds from long-term borrowings, net of debt issuance costs: $1,558,000,000.00Senior debt issued+$1.56 BCash used to net share settle employee equity awards: -$131,000,000.00Equity award net settlement−$131.00 MProceeds from issuances of shares of common stock pursuant to employee stock compensation and purchase plans: $282,000,000.00Stock plan proceeds+$282.00 MOther, net: $7,000,000.00Other financing, net+$7.00 MNet cash used in financing activities: -$395,000,000.00. Cash required to fund net payments.Financing cash−$395.00 Mfinancing reconciliation: $2,242,000,000.00Purchases of property, plant and equipment and internal use software: -$876,000,000.00PP&E purchases−$876.00 MPayments for acquisitions of businesses, net of cash acquired: -$1,593,000,000.00Acquisitions, net of cash−$1.59 BPayments for investments and acquisitions of certain technologies: -$254,000,000.00Payments for investments and acquisitions of certaintechnologies−$254.00 MOther, net: $84,000,000.00Other investing, net+$84.00 MRemaining investing cash flows, net (calculated): -$1,000,000.00Remaining investing (calculated)−$1.00 MNet cash used in investing activities: -$2,640,000,000.00. Cash required to fund net payments.Investing cash−$2.64 Binvesting reconciliation: $2,724,000,000.00Cash sources and uses: $5,182,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $606,000,000.00Beginning cash$606.00 MEnding cash: Cash, cash equivalents, and restricted cash: $2,147,000,000.00Ending cash$2.15 BExchange-rate effect: $42,000,000.00FX effect+$42.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$3.66 BOperating cash − cash spent on PP&ECash flow / Net income1.57×Operating cash flow ÷ net incomeNet cash change+$1.54 BEnding cash − beginning cash
Chart details

BOSTON SCIENTIFIC CORPORATION cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025

Cash flows for Jan 1, 2025 through Dec 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2024. Ending cash: Dec 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2024
606,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
4,534,000,000 US dollars. Net cash provided.
Net loss (gain) on investments and notes receivable
negative 139,000,000 US dollars
Other assets
negative 85,000,000 US dollars
Trade accounts receivable
negative 269,000,000 US dollars
Inventories
negative 188,000,000 US dollars
Contingent consideration net expense (benefit)
18,000,000 US dollars
Depreciation and amortization
1,368,000,000 US dollars
Inventory step-up amortization
132,000,000 US dollars
Net income (loss)
2,892,000,000 US dollars
Other, net
42,000,000 US dollars
Goodwill and other intangible asset impairment charges
46,000,000 US dollars
Stock-based compensation expense
299,000,000 US dollars
Deferred and prepaid income taxes
negative 2,000,000 US dollars
Accounts payable, accrued expenses and other liabilities
296,000,000 US dollars
Fixed asset and right-of-use asset impairment
124,000,000 US dollars
Investing activities
negative 2,640,000,000 US dollars. Net cash used. The remaining amount is calculated by subtracting the other displayed items from the investing total. The filing's tagged investing lines do not add up to the investing total; this is the difference. It may combine inflows and outflows.
Purchases of property, plant and equipment and internal use software
negative 876,000,000 US dollars
Payments for acquisitions of businesses, net of cash acquired
negative 1,593,000,000 US dollars
Payments for investments and acquisitions of certain technologies
negative 254,000,000 US dollars
Other, net
84,000,000 US dollars
Remaining investing cash flows, net (calculated)
negative 1,000,000 US dollars
Financing activities
negative 395,000,000 US dollars. Net cash used.
Payment of contingent consideration previously established in purchase accounting
negative 62,000,000 US dollars
Payments for finance leases
negative 258,000,000 US dollars
Payments on short-term borrowings
negative 1,595,000,000 US dollars
Net increase (decrease) in commercial paper
negative 196,000,000 US dollars
Proceeds from long-term borrowings, net of debt issuance costs
1,558,000,000 US dollars
Cash used to net share settle employee equity awards
negative 131,000,000 US dollars
Proceeds from issuances of shares of common stock pursuant to employee stock compensation and purchase plans
282,000,000 US dollars
Other, net
7,000,000 US dollars
Operating adjustment reconciliation
2,325,000,000 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
2,242,000,000 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 displayed reconciliation
2,724,000,000 US dollars. Intermediate calculation joining the displayed items and the calculated net remainder. It does not establish gross cash receipts or payments and is not an additional cash flow.
Exchange-rate effect
42,000,000 US dollars
Ending cash on Dec 31, 2025
2,147,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
5,182,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
1,541,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.57×. 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
4,534,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
876,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
3,658,000,000 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 $1.64B 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: 4,534,000,000 US dollars minus 876,000,000 US dollars equals 3,658,000,000 US dollars.
BOSTON SCIENTIFIC CORPORATION (BSX) FY2025 Annual Statement of Cash Flows Sankey chart
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