For the year ending 2025-12-31, AMGN had -$2,844M decrease in cash & cash equivalents over the period. $8,100M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Total revenues | 36,751 | 33,424 | - | - |
| Manufacturing cost of sales | 9,845 | 11,118 | - | - |
| Profit share and royalties in cost of sales | 2,192 | 1,740 | - | - |
| Research and development | 7,272 | 5,964 | - | - |
| Sales and marketing | 4,590 | 4,713 | - | - |
| General and administrative | 2,460 | 2,383 | - | - |
| Other segment items | -931 | 262 | - | - |
| Equity in (income) loss of equity method investments | - | 10 | - | - |
| Interest income | 408 | 510 | - | - |
| Interest expense, net | 2,755 | 3,155 | - | - |
| Provision for income taxes | 1,265 | 519 | - | - |
| Net income | 7,711 | 4,090 | 6,717 | 6,552 |
| Depreciation, amortization and other | 5,167 | 5,592 | 4,071 | 3,417 |
| Impairment of intangible assets | 1,200 | - | - | - |
| Stock-based compensation expense | 494 | 530 | 431 | 401 |
| Deferred income taxes | -721 | -1,228 | -1,273 | -1,198 |
| Acquired in-process research and development | - | - | 0 | 0 |
| Adjustments for equity method investments | - | 10 | -11 | -891 |
| Loss on divestiture | - | 0 | 0 | 567 |
| (gains) losses on equity securities | 2,064 | -159 | 1,565 | - |
| Other items, net | -149 | 8 | -563 | 176 |
| Trade receivables, net | 2,676 | -441 | 1,015 | 746 |
| Inventories | -886 | -2,532 | -491 | 742 |
| Other assets | 1,267 | 652 | 564 | -258 |
| Accounts payable | 428 | 312 | -402 | 154 |
| Accrued income taxes, net | -2,068 | -1,011 | -1,031 | -647 |
| Long-term tax liabilities | 311 | -492 | 371 | 229 |
| Accrued liabilities | 499 | 92 | - | - |
| Accrued sales incentives and allowance | 2,065 | 1,194 | 935 | - |
| Other liabilities | -156 | -51 | 731 | 761 |
| Net cash provided by operating activities | 9,958 | 11,490 | 8,471 | 9,721 |
| Cash paid for acquisitions, net of cash acquired | 53 | 0 | 26,989 | 3,839 |
| Purchases of marketable securities | - | 0 | 1 | 2,587 |
| Proceeds from sales of marketable securities | 0 | 0 | 1,123 | 98 |
| Purchases of equity method investments | - | - | - | 18 |
| Proceeds from maturities of marketable securities | 0 | 0 | 550 | 1,120 |
| Proceeds from divestiture of businesses, net of cash divested | - | - | - | 130 |
| Purchases of property, plant and equipment | 1,858 | 1,096 | 1,112 | 936 |
| Other | 32 | -50 | -225 | 12 |
| Net cash used in investing activities | -1,943 | -1,046 | -26,204 | -6,044 |
| Net proceeds from issuance of debt | 0 | 0 | 27,777 | 6,919 |
| Extinguishment of debt | 683 | 659 | 647 | 297 |
| Repayment of debt | 5,000 | 3,600 | 1,454 | 0 |
| Repurchases of common stock | 0 | 200 | 0 | 6,360 |
| Dividends paid | 5,124 | 4,832 | 4,556 | 4,196 |
| Other | -52 | -124 | -72 | -103 |
| Net cash (used in) provided by financing activities | -10,859 | -9,415 | 21,048 | -4,037 |
| (decrease) increase in cash and cash equivalents | -2,844 | 1,029 | 3,315 | -360 |
| Cash and cash equivalents at beginning of period | 11,973 | 10,944 | 7,629 | 7,989 |
| Cash and cash equivalents at end of period | 9,129 | 11,973 | 10,944 | 7,629 |
AMGEN INC (AMGN)
AMGEN INC (AMGN)