For the year ending 2025-12-31, ELAN had $77M increase in cash & cash equivalents over the period. $284M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Revenue | - | 4,439 | - | - |
| Cost of sales | - | 2,003 | - | - |
| Gross profit | 2,593 | 2,436 | - | - |
| Research and development | 368 | 344 | - | - |
| Marketing and selling | 923 | 809 | - | - |
| General and administrative | 507 | 505 | - | - |
| Interest expense, net of capitalized interest | 220 | 235 | - | - |
| Other expense, net | -19 | -18 | - | - |
| Income tax expense | 8 | 150 | - | - |
| Total other significant segment expenses | 2,045 | 2,061 | - | - |
| Other expenses | 780 | 37 | - | - |
| Net (loss) income | -232 | 338 | -1,231 | -78 |
| Depreciation and amortization | 680 | 662 | 694 | 682 |
| Goodwill impairment | 0 | 0 | 1,042 | - |
| Deferred income taxes | -134 | -112 | -80 | -57 |
| Stock-based compensation expense | 68 | 55 | 46 | 59 |
| Asset impairment and write-down charges | 71 | 81 | 32 | 81 |
| Loss (gain) on sale of assets | - | - | - | -5 |
| Gain on divestiture | 0 | 640 | - | 3 |
| Inventory fair value step-up amortization | - | - | 2 | 0 |
| Loss on extinguishment of debt | - | 0 | 0 | -20 |
| Proceeds from interest rate swap settlements | 0 | 5 | 57 | 207 |
| Sold portion of royalty revenue | 19 | - | - | - |
| Interest on liability for sale of future revenue | 33 | - | - | - |
| Other non-cash operating activities, net | -6 | 3 | 9 | -2 |
| Receivables | 12 | -12 | 40 | -14 |
| Inventories | 57 | -44 | 160 | 269 |
| Other assets | -21 | -11 | 6 | 109 |
| Accounts payable and other liabilities | 147 | 82 | -94 | -98 |
| Other changes in operating assets and liabilities | - | - | 0 | 0 |
| Net cash provided by operating activities | 560 | 541 | 271 | 452 |
| Net purchases of property and equipment and software | 276 | 147 | 140 | 137 |
| Disposals of property and equipment | - | - | - | 0 |
| Purchases of software | - | - | - | 34 |
| Purchases of intangible assets | - | 14 | 14 | 13 |
| Cash paid for acquisitions | 0 | 41 | 19 | 0 |
| Proceeds from divestitures | 9 | 1,294 | - | - |
| Divestiture proceeds | - | - | - | 13 |
| Proceeds from sale of shawnee and speke facilities | - | 66 | - | - |
| Other investing activities, net | 12 | 0 | -4 | 8 |
| Net cash (used for) provided by investing activities | -279 | 1,158 | -169 | -179 |
| Proceeds from facility-Revolving Credit Facility | 125 | 50 | 350 | - |
| Repayments of facility-Revolving Credit Facility | 125 | 250 | 150 | - |
| Proceeds from facility-Securitization Facility | 125 | 170 | 250 | - |
| Repayments of revolving credit facility | - | - | - | 813 |
| Repayments of facility-Securitization Facility | 125 | 195 | 125 | - |
| Proceeds from issuance of long-term debt | 2,106 | 350 | 0 | 0 |
| Debt issuance costs | - | - | - | 2 |
| Proceeds from revolving credit facility | - | - | - | 563 |
| Early redemption and tender premiums paid | - | - | - | 14 |
| Repayments of long-term borrowings | 2,669 | 1,600 | 402 | 677 |
| Funding related to construction of corporate headquarters | - | 0 | 0 | -15 |
| Proceeds from sale of future revenue, net of transaction costs | 290 | - | - | - |
| Other financing activities, net | -2 | -17 | -6 | -16 |
| Net cash used for financing activities | -275 | -1,492 | -83 | -549 |
| Effect of exchange rate changes on cash and cash equivalents | 71 | -91 | -12 | -17 |
| Net increase in cash and cash equivalents | 77 | 116 | 7 | -293 |
| Cash and cash equivalents at january1 | 468 | 352 | 345 | 638 |
| Cash and cash equivalents at december 31 | 545 | 468 | 352 | 345 |
Elanco Animal Health Inc (ELAN)
Elanco Animal Health Inc (ELAN)