AbbVie 2013 Annual Report Download - page 65

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AbbVie Inc. and Subsidiaries
Consolidated Statements of Cash Flows
years ended December 31 (in millions) (brackets denote cash outflows) 2013 2012 2011
Cash flows from operating activities
Net earnings $ 4,128 $ 5,275 $ 3,433
Adjustments to reconcile net earnings to net cash from operating
activities:
Depreciation 388 525 508
Amortization of intangible assets 509 625 764
Stock-based compensation 212 187 163
Acquired in-process research and development 338 288 673
Other, net 34 66 —
Changes in operating assets and liabilities, net of acquisitions:
Accounts and other receivables 681 223 (498)
Inventories (56) (203) (87)
Prepaid expenses and other assets 459 90 (206)
Accounts payable and other liabilities (426) (731) 1,497
Cash flows from operating activities 6,267 6,345 6,247
Cash flows from investing activities
Acquisitions and investments, net of cash acquired (405) (688) (273)
Acquisitions of property and equipment (491) (333) (356)
Release of restricted funds — — 1,870
Purchases of investment securities (930) (2,550) (1,943)
Sales and maturities of investment securities 2,705 1,153 1,255
Cash flows from investing activities 879 (2,418) 553
Cash flows from financing activities
Net change in short-term borrowings (601) 1,000 —
Dividends paid (2,555) — —
Purchases of treasury stock (320) — —
Proceeds from the exercise of stock options 347 — —
Proceeds from issuance of long-term debt — 14,586 —
Net transactions with Abbott Laboratories, excluding noncash items (247) (13,504) (6,762)
Other, net (66) (151) (21)
Cash flows from financing activities (3,442) 1,931 (6,783)
Effect of exchange rate changes on cash and equivalents (10) 16 —
Net increase in cash and equivalents 3,694 5,874 17
Cash and equivalents, beginning of year 5,901 27 10
Cash and equivalents, end of year $ 9,595 $ 5,901 $ 27
Other supplemental information
Interest paid, net of portion capitalized 283 61 —
Income taxes paid 1,305 — —
The accompanying notes are an integral part of these consolidated financial statements.
61