|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 718.9 |
$ 279.7 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation |
28.1 |
25.5 |
| Amortization |
66.6 |
71.6 |
| Deferred income taxes |
(106.6) |
(80.4) |
| Change in value of contingent consideration |
19.0 |
8.6 |
| Share-based compensation expense |
128.8 |
104.4 |
| Share-based employee benefit plan expense |
7.7 |
7.4 |
| Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net |
69.2 |
(1.9) |
| Unrealized change in value of derivative instruments |
62.2 |
4.4 |
| Other, net |
2.7 |
(1.1) |
| Change in current assets and liabilities, excluding the effect of acquisitions: |
|
|
| Accounts receivable |
(59.5) |
(9.8) |
| Inventory |
7.3 |
(7.0) |
| Other operating assets |
(26.4) |
29.9 |
| Accounts payable and other operating liabilities |
59.2 |
111.5 |
| Income tax payable |
15.8 |
11.3 |
| Payment of contingent consideration |
0 |
(5.0) |
| Deferred revenue |
1.9 |
4.2 |
| Net cash provided by operating activities |
856.5 |
557.1 |
| Cash flows from investing activities: |
|
|
| Proceeds from sales of marketable securities available for sale |
1,079.8 |
588.3 |
| Purchases of marketable securities available for sale |
(678.8) |
(766.7) |
| Capital expenditures |
(42.3) |
(24.7) |
| Purchases of investment securities |
(20.7) |
(17.5) |
| Other investing activities |
0 |
0.5 |
| Net cash provided by (used in) investing activities |
338.0 |
(220.1) |
| Cash flows from financing activities: |
|
|
| Payment for treasury shares |
(1,012.6) |
(1,568.5) |
| Proceeds from short-term borrowing |
90.0 |
1,460.0 |
| Principal repayments on short-term borrowing |
(189.6) |
(1,135.0) |
| Proceeds from sale of common equity put options |
5.2 |
1.2 |
| Payment of contingent consideration |
0 |
(15.0) |
| Net proceeds from share-based compensation arrangements |
114.4 |
59.2 |
| Excess tax benefit from share-based compensation arrangements |
84.5 |
29.6 |
| Net cash used in financing activities |
(908.1) |
(1,168.5) |
| Effect of currency rate changes on cash and cash equivalents |
(40.3) |
(6.3) |
| Net increase (decrease) in cash and cash equivalents |
246.1 |
(837.8) |
| Cash and cash equivalents at beginning of period |
4,121.6 |
3,234.4 |
| Cash and cash equivalents at end of period |
4,367.7 |
2,396.6 |
| Supplemental schedule of non-cash investing and financing activity: |
|
|
| Change in net unrealized (gain) loss on marketable securities available for sale |
77.1 |
(84.3) |
| Investment in NantBioScience, Inc. preferred equity |
0 |
90.0 |
| Supplemental disclosure of cash flow information: |
|
|
| Interest paid |
50.2 |
52.2 |
| Income taxes paid |
$ 106.7 |
$ 96.6 |