| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||
Net earnings | ||||||||
7,882 | 5,687 | 5,309 | 5,953 | 5,144 | 1,774 | 4,128 | 5,275 | 3,433 |
Adjustments to reconcile net earnings to net cash from operating activities: | ||||||||
Depreciation | ||||||||
464 | 471 | 425 | 425 | 417 | 383 | 388 | 525 | 508 |
Amortization of intangible assets | ||||||||
1,600 | 1,300 | 1,100 | 764 | 419 | 403 | 509 | 625 | 764 |
Change in fair value of contingent consideration liabilities | ||||||||
3,091 | 49 | 626 | 228 | 0 | 0 | - | - | - |
Stock-based compensation | ||||||||
430 | 421 | 365 | 353 | 282 | 241 | 212 | 187 | 163 |
Upfront costs and milestones related to collaborations | ||||||||
490 | 1,061 | 470 | 280 | 280 | 1,102 | 338 | 288 | - |
Gain on divestitures | ||||||||
330 | 0 | 0 | - | - | - | - | - | - |
Devaluation loss related to Venezuela | ||||||||
- | - | - | 298 | 0 | 0 | - | - | - |
Intangible asset impairment | ||||||||
1,030 | 5,070 | 354 | 39 | 0 | - | - | - | - |
Impacts related to U.S. tax reform | ||||||||
0 | 424 | 1,242 | 0 | 0 | - | - | - | - |
Acquired in-process research and development | ||||||||
- | - | - | - | - | - | - | - | 673 |
Other, net | ||||||||
-43 | -76 | -84 | -390 | -489 | -434 | -34 | -66 | - |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | ||||||||
74 | 591 | 391 | 71 | 1,076 | 172 | -681 | -223 | 498 |
Inventories | ||||||||
231 | 226 | -93 | 38 | 434 | 203 | 56 | 203 | 87 |
Prepaid expenses and other assets | ||||||||
-97 | 499 | 118 | 393 | -511 | 220 | -459 | -90 | 206 |
Accounts payable and other liabilities | ||||||||
-1,121 | 190 | 425 | -1,187 | 1,503 | -193 | -426 | -731 | 1,497 |
Cash flows from operating activities | ||||||||
13,324 | 13,427 | 9,960 | 7,041 | 7,535 | 3,549 | 6,267 | 6,345 | 6,247 |
Cash flows from investing activities | ||||||||
Acquisition of businesses, net of cash acquired | ||||||||
- | - | - | 2,495 | 11,488 | - | - | 688 | 273 |
Acquisitions and investments | ||||||||
1,100 | 736 | 308 | 262 | 964 | 622 | 405 | - | - |
Acquisitions of property and equipment | ||||||||
552 | 638 | 529 | 479 | 532 | 612 | 491 | 333 | 356 |
Transfer to restricted cash | ||||||||
- | - | - | - | - | - | - | - | -1,870 |
Purchases of investment securities | ||||||||
583 | 1,792 | 2,230 | 5,315 | 851 | 1,169 | 930 | 2,550 | 1,943 |
Sales and maturities of investment securities | ||||||||
2,699 | 2,160 | 2,793 | 2,359 | 899 | 1,477 | 2,705 | 1,153 | 1,255 |
Other | ||||||||
-167 | 0 | 0 | -118 | 0 | 0 | - | - | - |
Cash flows from investing activities | ||||||||
596 | -1,006 | -274 | -6,074 | -12,936 | -926 | 879 | -2,418 | 553 |
Cash flows from financing activities | ||||||||
Net change in commercial paper borrowings | ||||||||
-699 | 299 | 23 | -23 | - | - | - | - | - |
Proceeds from issuance of other short-term borrowings | ||||||||
0 | 3,002 | 0 | 0 | - | - | - | - | - |
Repayments of other short-term borrowings | ||||||||
3,000 | 0 | 0 | - | - | - | - | - | - |
Net change in short-term borrowings | ||||||||
- | - | - | - | -19 | 12 | -601 | 1,000 | - |
Proceeds from issuance of long-term debt | ||||||||
31,482 | 5,963 | - | 11,627 | 20,660 | - | - | 14,586 | - |
Repayments of long-term debt and finance lease obligations | ||||||||
1,536 | 6,035 | 25 | 6,010 | 4,018 | 17 | - | - | - |
Debt issuance costs | ||||||||
424 | 40 | 0 | 69 | 182 | 141 | - | - | - |
Dividends paid | ||||||||
6,366 | 5,580 | 4,107 | 3,717 | 3,294 | 2,661 | 2,555 | - | - |
Purchases of treasury stock | ||||||||
629 | 12,014 | 1,410 | 6,033 | 7,586 | 665 | 320 | - | - |
Proceeds from the exercise of stock options | ||||||||
8 | 73 | 254 | 268 | 155 | 232 | 347 | - | - |
Payments of contingent consideration liabilities | ||||||||
163 | 78 | 268 | 0 | 0 | - | - | - | - |
Net transactions with Abbott Laboratories, excluding non-cash items | ||||||||
- | - | - | - | - | - | -247 | -13,504 | -6,762 |
Other, net | ||||||||
35 | 14 | 21 | 29 | 36 | -53 | -66 | -151 | -21 |
Cash flows from financing activities | ||||||||
18,708 | -14,396 | -5,512 | -3,928 | 5,752 | -3,293 | -3,442 | 1,931 | -6,783 |
Effect of exchange rate changes on cash and equivalents | ||||||||
7 | -39 | 29 | -338 | -300 | -577 | -10 | 16 | - |
Net change in cash and equivalents | ||||||||
32,635 | -2,014 | 4,203 | -3,299 | 51 | -1,247 | 3,694 | 5,874 | 17 |
Other supplemental information | ||||||||
Interest paid, net of portion capitalized | ||||||||
1,794 | 1,215 | 1,099 | 986 | 536 | 419 | 283 | 61 | - |
Income taxes paid | ||||||||
1,447 | 35 | 1,696 | 3,563 | 1,108 | 498 | 1,305 | - | - |
Supplemental schedule of non-cash investing and financing activities | ||||||||
Issuance of common shares associated with acquisitions of businesses | ||||||||
- | - | - | 3,923 | 8,405 | - | - | - | - |