Amgen 2000 Annual Report Download - page 28

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31
Consolidated Statements of Cash Flows
(In millions)
Years ended December 31, 2000 1999 1998
Cash flows from operating activities:
Net income $ 1,138.5 $ 1,096.4 $ 863.2
Write-off of acquired in-process research and development 30.1 — —
Depreciation and amortization 211.8 176.8 143.8
Tax benefits related to employee stock options 376.6 151.6 108.2
Gain on equity investments (31.8) —(17.3)
Other non-cash expenses 6.2 9.8 27.5
Loss of affiliates, net 23.9 16.8 28.6
Cash provided by (used in):
Trade receivables, net 23.0 (92.3) (50.9)
Inventories (120.9) (73.5) (1.6)
Other current assets (51.4) (9.0) (21.2)
Accounts payable 59.8 (38.2) 17.7
Accrued liabilities (31.2) (11.5) 51.7
Net cash provided by operating activities 1,634.6 1,226.9 1,149.7
Cash flows from investing activities:
Purchases of property, plant and equipment (437.7) (304.2) (407.8)
Proceeds from maturities of marketable securities — 40.0 20.1
Proceeds from sales of marketable securities 1,067.8 843.5 466.2
Purchases of marketable securities (1,638.7) (1,032.7) (766.3)
Other (27.7) (10.1) 14.1
Net cash used in investing activities (1,036.3) (463.5) (673.7)
Cash flows from financing activities:
Increase (decrease) in commercial paper 0.2 (0.2) 99.7
Net proceeds from issuance of common stock upon the
exercise of employee stock options and in
connection with an employee stock purchase plan 333.7 248.8 345.5
Repurchases of common stock (799.9) (1,024.7) (912.1)
Other (36.7) (57.5) (47.1)
Net cash used in financing activities (502.7) (833.6) (514.0)
Increase (decrease) in cash and cash equivalents 95.6 (70.2) (38.0)
Cash and cash equivalents at beginning of period 130.9 201.1 239.1
Cash and cash equivalents at end of period $ 226.5 $ 130.9 $ 201.1
See accompanying notes.