BIOGEN INC. BIIB Cash Flow

Biogen inc. (BIIB)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
1,392,600	1,439,700	1,545,900	1,494,100	1,408,800	944,900	1,442,900	915,000	1,171,200	-166,300	1,226,100	862,800	747,500	647,900	1,030,200	1,048,400	969,200	828,700	1,019,500	924,800	820,200	882,620	856,120	723,132	479,728	457,265	487,616	490,670	426,749	292,127	398,399	387,141	302,366	300,210	353,662	304,048	308,766	271,752	112,179	294,649	219,993	305,996	279,602	144,885	246,579
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation, amortization and impairments
119,900	113,000	329,500	117,000	121,100	329,700	346,500	171,500	168,900	209,000	177,400	182,600	512,000	177,400	180,200	175,400	149,700	156,300	151,600	144,600	147,900	157,592	175,406	164,139	190,963	158,343	147,477	128,427	97,453	96,876	94,203	90,624	83,945	88,721	87,367	90,300	92,545	95,655	90,128	87,451	82,510	93,200	85,884	126,731	122,146
Acquired in-process research and development
75,000	0	0	0	0	0	27,500	75,000	10,000	0	0	120,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	231,400	0	39,976	-	-	-	-
Share-based compensation
67,700	38,400	45,900	52,300	45,700	38,500	37,300	38,300	43,400	30,600	30,100	30,300	37,000	37,000	33,700	38,800	45,300	29,900	37,800	41,600	52,100	35,792	35,652	37,516	46,340	31,449	37,464	30,630	36,757	30,188	27,911	28,071	32,396	26,380	29,226	24,280	33,119	33,232	39,224	44,364	51,006	41,000	41,010	41,003	37,889
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings
4,600	-2,600	57,800	20,000	-11,500	-79,300	87,900	-1,900	5,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on divestiture of Hillerød, Denmark manufacturing operations
0	40,200	17,700	2,300	-115,500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,852	686	1,219	4,379	242	394	5,082	-2,282
Deferred income taxes
36,900	38,700	-43,200	-156,400	228,000	153,100	12,600	-110,500	53,100	131,400	-19,200	-96,600	76,100	-118,200	-26,600	-39,100	8,900	40,200	-95,200	-107,300	16,700	-78,927	-82,767	-66,948	-79,558	-78,913	-48,140	-51,522	-66,525	-30,042	-43,027	-39,955	-3,876	37,878	67,072	-23,348	71,974	-20,166	-30,927	-38,359	8,042	-64,771	-29,808	-35,799	-6,973
Unrealized (gain) loss on strategic investments
-62,000	-	-9,400	-175,800	375,000	-	137,900	-1,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Write-down of inventory to net realizeable value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,890	4,264	3,365	2,289	3,493	1,956	2,089	9,386
Impairment of marketable securities, investments and other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,088	1,120	16,111	6,318	-136	3,981	6,021
Realized (gain) loss on sale of marketable securities and strategic investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,813	6,315	4,985	6,789	1,751	19,747	-4,313
Non-cash interest (income) expense, foreign exchange remeasurement loss (gain), net and other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,734	2,876	3,982	4,969	-5,269	2,820	-10,412
Other
-45,700	18,200	3,700	-40,400	-50,700	137,800	-23,600	-13,400	-31,700	-96,400	7,800	-55,400	-18,100	-43,700	-16,400	-40,800	11,900	-98,300	-37,400	-27,100	32,900	-45,411	31,498	-7,263	71,476	-8,977	-5,918	9,053	33,442	-22,779	-27,113	-8,003	29,073	-35,646	-11,292	7,096	19,689	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net:
Accounts receivable
238,400	-71,200	-500	-133,700	136,600	-48,800	66,800	53,200	134,000	209,800	-75,400	105,500	195,700	3,300	173,100	-95,000	160,000	-92,600	24,700	-89,400	128,300	215,343	108,096	-8,724	197,685	-93,160	34,172	110,142	75,546	14,915	-29,244	-78,308	89,066	56,040	-37,575	-35,803	90,712	26,508	49,764	2,754	20,201	4,227	32,373	101,777	-37,935
Due from anti-CD20 therapeutic programs
-78,600	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Due from unconsolidated joint business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	841	-28,525	44,915	11,439	510	-4,927	-34,978	26,259
Inventory
62,200	66,500	61,400	20,300	-129,000	20,200	-8,200	42,700	-2,600	-75,800	85,000	39,100	46,200	10,500	26,800	39,700	88,600	24,000	69,100	59,800	21,500	66,010	47,201	55,709	16,980	61,086	53,643	68,362	60,809	57,886	38,060	25,336	19,027	-	-	-	-	20,838	5,136	-9,183	-12,264	17,577	10,842	27,073	-12,720
Other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-9,851	26,072	-17,100	13,463	-13,716	-14,092	19,801	-14,264
Accrued expenses and other current liabilities
-347,400	349,300	107,000	-77,700	-138,400	364,800	87,400	135,100	-121,800	277,100	-52,200	231,900	-684,200	797,800	-59,100	20,300	-136,700	373,800	-4,600	35,600	-205,500	225,017	49,582	141,069	-171,368	173,306	126,764	164,940	-180,910	-	-	-	-82,031	90,459	10,751	81,575	-149,063	113,498	41,109	59,122	-82,854	-11,209	-60,683	142,957	-120,007
Income tax assets and liabilities
223,000	-48,500	-242,300	136,600	170,300	6,100	132,200	-74,200	257,600	1,133,400	285,200	80,400	-195,100	-85,200	-70,700	-353,500	276,800	-428,200	-103,200	-52,000	154,000	-	-	49,753	-18,640	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other changes in operating assets and liabilities, net
-18,500	2,300	-19,300	-90,800	171,100	-86,700	89,700	-28,700	20,000	-18,200	62,900	153,000	34,300	48,100	-87,100	-11,800	36,900	-89,400	54,100	-3,300	69,700	53,604	-97,948	18,346	56,698	71,774	-2,638	-49,624	-35,212	111,357	-46,001	-26,694	1,009	-53,648	-9,345	75,896	-6,638	-	-	-	-	-	-	-	-
Other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-23,872	708	2,813	38,043	-84,027	-19,958	-152,124	61,376
Net cash flows provided by operating activities
1,467,300	1,960,200	1,694,900	1,964,000	1,459,500	1,895,400	1,735,900	1,099,300	1,457,100	1,518,300	1,628,300	1,169,200	235,200	1,581,900	991,300	998,200	1,015,800	1,243,700	895,400	1,047,300	733,000	932,848	914,033	990,593	104,626	869,027	671,922	625,212	178,939	507,907	541,784	635,581	194,625	473,974	570,523	429,666	253,578	431,056	428,241	428,481	336,895	279,340	266,257	228,551	300,750
Cash flows from investing activities:
Proceeds from sales and maturities of marketable securities
2,389,300	2,139,400	611,800	1,766,600	1,489,200	1,179,000	1,192,000	2,733,800	4,068,900	1,093,300	888,100	1,700,200	1,884,300	2,193,100	2,362,200	1,642,500	1,181,100	699,600	2,387,900	601,900	373,600	776,029	625,346	560,013	757,512	164,882	620,511	75,201	4,329,506	836,177	489,450	599,497	824,434	800,668	306,216	381,753	788,083	178,331	487,820	973,236	1,029,307	984,914	696,531	579,891	1,057,671
Purchases of marketable securities
1,684,700	1,200,500	1,977,000	1,250,100	825,000	1,601,000	1,319,500	2,855,100	1,919,200	1,261,300	1,557,900	1,279,300	1,256,700	2,281,500	1,798,400	1,918,900	1,914,400	1,994,800	2,825,100	1,722,000	323,000	844,516	950,978	1,121,395	666,211	804,491	855,635	457,294	1,160,680	1,142,091	938,409	576,842	677,092	1,106,024	812,403	869,838	908,730	616,625	430,501	241,591	699,677	546,963	1,131,741	759,047	1,110,368
Contingent consideration paid related to Fumapharm AG acquisition
0	0	0	0	300,000	300,000	300,000	300,000	600,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	0	250,000	200,000	150,000	0	25,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of reverse repurchase agreements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,968,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property, plant and equipment
149,700	110,400	90,100	186,900	127,100	225,900	163,200	186,800	194,700	230,600	229,100	197,700	210,000	182,100	170,300	136,800	126,900	186,100	229,200	129,900	97,800	106,946	62,546	64,002	54,306	78,672	80,188	54,151	33,289	69,037	58,064	72,896	54,551	70,442	51,349	54,086	32,143	48,835	38,960	47,051	38,209	55,517	38,408	34,680	37,041
Payments to Acquire Businesses, Net of Cash Acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	198,800	0	0	0	0	0	0	0	0	0	0	0	72,401	-	-	-	-	-	0	0	39,976	-	-	-	-
Acquired in-process research and development
75,000	0	0	0	0	0	27,500	75,000	10,000	0	0	120,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions of intangible assets
37,000	155,000	0	0	0	-	-	-	-	65,000	50,100	5,100	855,200	1,200	110,400	-28,600	28,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Other Investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,007	3,161	630	1,708	7,567	1,317	3,243	31,959
Proceeds from sales of strategic investments
500	3,300	166,300	309,700	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
500	-31,600	600	5,700	-1,700	800	900	-500	-1,600	5,900	-2,100	600	6,600	10,000	-53,100	51,500	14,400	17,100	17,300	3,400	6,700	-25,331	2,386	4,743	6,002	-23,254	9,080	-4,722	11,596	503	15,367	2,875	19,772	8,734	29,641	4,619	-25,995	-	-	-	-	-	-	-	-
Collateral received under securities lending
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	29,991
Net cash flows provided by investing activities
442,900	708,400	-365,900	-110,800	238,800	-1,625,300	-619,100	-1,148,500	1,346,600	-769,500	-1,246,900	-202,500	-744,200	-581,700	36,200	-736,100	-1,203,200	-1,807,500	-990,000	-1,253,300	-502,800	-378,302	-540,564	-630,127	5,993	-710,008	-324,392	-726,241	155,941	-375,454	-522,390	-53,116	618	-389,532	-587,177	-546,790	-126,795	-518,622	-69,754	683,964	249,737	382,622	-474,433	-211,514	-91,706
Cash flows from financing activities:
Purchases of treasury stock
2,220,200	2,093,100	717,900	2,401,500	655,800	1,352,600	0	2,750,000	250,000	0	0	781,800	583,600	651,100	348,900	0	0	-	-	-	-	-	-	-	-	-8	359,285	0	41,023	21,544	53,220	446,780	463,171	111,400	0	191,288	195,287	0	468,245	1,031,754	577,580	693,539	0	0	57,631
Payments related to issuance of stock for share-based compensation arrangements, net
29,600	-	-6,700	-8,600	32,200	-	-7,600	-6,900	21,200	-	-7,100	-7,700	25,500	-3,900	-9,500	-7,700	29,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Noncontrolling Interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,074	8,588	-1,427	-760	-	-	-	-
Proceeds from issuance of stock for share-based compensation arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,800	9,100	25,600	9,940	11,483	11,114	22,363	10,433	17,365	17,185	21,817	9,215	15,197	19,001	24,080	15,184	13,583	194,728	91,155	103,039	17,254	10,375	52,818	14,574	8,849	7,344	17,043
Change in cash overdraft
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-326	4,738	-1,826	4,778	-28	6,156	1,369
Repayments of borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	60	0	2,340	450,000	2,428	0	0	0	-	-	-	-	1,891	2,040	12,131	2,011	-	-	-	-
Net cash contribution to Bioverativ, Inc.
-	-	-	-	-	-	-	-	-	0	0	0	302,700	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from borrowings under line of credit facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,100	3,300	66,400	5,977	6,483	4,484	79,456	5,598	14,591	15,914	37,397	-	-	-	-	-	-	-	-	6,852	686	1,219	4,379	242	394	518	2,282
Other
4,500	-40,200	22,200	12,900	8,700	-33,400	18,700	-9,500	2,600	-24,000	-23,400	23,100	10,400	-40,700	36,800	-23,500	24,600	56,900	-77,100	26,300	-11,300	18,136	-27,339	-1,053	13,056	-4,770	8,807	-1,522	-6,615	-55,505	9,773	10,339	22,827	62,544	-112,711	18,467	4,300	-	-	-	-	-	-	-	-
Obligation under securities lending
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	29,991
Net cash flows used in financing activities
-2,245,300	-2,116,400	-689,000	-2,375,700	-679,300	-1,437,000	25,100	-2,791,500	-268,600	-708,100	-19,500	-751,000	-901,400	-726,500	-305,300	-15,800	-5,000	-2,201,700	2,907,600	-3,600	80,800	-513,292	-35,123	-322,360	114,875	11,209	-318,522	-170,763	-238,424	-15,524	-28,250	-417,440	-416,264	-142,809	-99,128	21,907	-99,832	225,926	-461,259	-1,026,126	-523,460	-666,757	6,383	3,151	-66,928
Net increase (decrease) in cash and cash equivalents
-335,100	552,200	640,000	-522,500	1,019,000	-1,166,900	1,141,900	-2,840,700	2,535,100	40,700	361,900	215,700	-1,410,400	273,700	722,200	246,300	-192,400	-2,765,500	2,813,000	-209,600	311,000	41,254	338,346	38,106	225,494	170,228	29,008	-271,792	96,456	116,929	-8,856	165,025	-221,021	-58,367	-115,782	-95,217	26,951	138,360	-102,772	86,319	63,172	-4,795	-201,793	20,188	142,116
Effect of exchange rate changes on cash and cash equivalents
12,700	17,600	-19,500	2,700	-400	4,800	-5,400	-17,100	-900	-15,000	16,600	29,900	7,900	-32,000	600	-15,000	15,100	-15,500	-6,100	13,600	-37,800	-22,673	-15,262	-3,510	545	4,582	6,296	997	-3,875	2,069	3,768	-6,353	4,618	-2,231	-6,604	2,068	4,126	-5,519	8,567	-4,916	-5,502	896	777	2,512	-397