Amgen 2001 Annual Report Download - page 37

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AMGEN 2001 ANNUAL REPORT
35
Years ended December 31, 2001 2000 1999
Cash flows from operating activities:
Net income $1,119.7 $ 1,138.5 $ 1,096.4
Depreciation and amortization 265.9 211.8 176.8
Tax benefits related to employee stock options 244.5 376.6 151.6
Loss/(gain) on equity investments 7.4 (31.8) —
Other non-cash expenses 87.7 29.7 —
Deferred income taxes (148.3) 6.6 9.8
Loss of affiliates, net 2.7 23.9 16.8
Cash provided by (used in):
Trade receivables, net (123.0) 23.0 (92.3)
Inventories (85.5) (120.9) (73.5)
Other current assets (31.5) (51.4) (9.0)
Accounts payable (6.5) 59.8 (38.2)
Accrued liabilities 147.1 (31.2) (11.5)
Net cash provided by operating activities 1,480.2 1,634.6 1,226.9
Cash flows from investing activities:
Purchases of property, plant, and equipment (441.8) (437.7) (304.2)
Proceeds from maturities of marketable securities 490.3 — 40.0
Proceeds from sales of marketable securities 301.7 1,067.8 843.5
Purchases of marketable securities (918.2) (1,638.7) (1,032.7)
Other 28.4 (27.7) (10.1)
Net cash used in investing activities (539.6) (1,036.3) (463.5)
Cash flows from financing activities:
Net proceeds from issuance of common stock upon
the exercise of employee stock options and in
connection with an employee stock purchase plan 277.7 333.7 248.8
Repurchases of common stock (737.5) (799.9) (1,024.7)
Other (18.2) (36.5) (57.7)
Net cash used in financing activities (478.0) (502.7) (833.6)
Increase (decrease) in cash and cash equivalents 462.6 95.6 (70.2)
Cash and cash equivalents at beginning of period 226.5 130.9 201.1
Cash and cash equivalents at end of period $ 689.1 $ 226.5 $ 130.9
See accompanying notes.
Consolidated Statements of Cash Flows
(In millions)