Biogen Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,293	1,632	1,161	3,047	1,556
Depreciation & Amortization	779.9	673.2	494.8	518.4	487.7
Loss (Gain) From Sale of Assets	-	-88.6	-	-503.7	-
Asset Writedown & Restructuring Costs	145.8	60.2	-	119.6	647.3
Loss (Gain) From Sale of Investments	19.3	101.4	277.1	-1,240	826.8
Loss (Gain) on Equity Investments	-	-	-	-2.6	-34.9
Stock-Based Compensation	290.8	291.2	264.2	254.1	238.6
Other Operating Activities	733.5	361.1	-1.3	81.4	63.8
Change in Accounts Receivable	102.7	222.3	61.3	-203.4	324.8
Change in Inventory	-64.7	-273.8	-130.9	-320.2	-462.4
Change in Other Net Operating Assets	-137.5	-182.2	-280.1	-224.4	-238.7
Operating Cash Flow	2,205	2,876	1,547	1,384	3,640
Operating Cash Flow Growth	-23.33%	85.85%	11.77%	-61.97%	-13.95%
Capital Expenditures	-153.8	-153.7	-277	-240.3	-258.1
Sale of Property, Plant & Equipment	-	-	-	582.6	-
Cash Acquisitions	-	-1,075	-6,926	-	-
Divestitures	-	-	-	-	28.1
Sale (Purchase) of Intangibles	-31.6	-117.5	-34.4	-2.9	-36.8
Investment in Securities	-1,179	551.5	3,148	1,213	-309.8
Other Investing Activities	-7.1	-4.7	-11.3	24.4	12.9
Investing Cash Flow	-1,371	-799.2	-4,101	1,577	-563.7
Long-Term Debt Issued	1,733	-	997.2	-	-
Long-Term Debt Repaid	-2,030	-650	-809.9	-1,002	-170
Net Debt Issued (Repaid)	-296.9	-650	187.3	-1,002	-170
Repurchase of Common Stock	-	-	-	-750	-1,800
Other Financing Activities	-5	-33.5	-38	4.9	-116.2
Financing Cash Flow	-301.9	-683.5	149.3	-1,747	-2,086
Foreign Exchange Rate Adjustments	101.9	-67.7	35.1	-55.7	-59.8
Net Cash Flow	633.5	1,325	-2,369	1,158	930.2
Free Cash Flow	2,051	2,722	1,270	1,144	3,382
Free Cash Flow Growth	-24.65%	114.28%	11.03%	-66.17%	-11.12%
Free Cash Flow Margin	20.73%	28.13%	12.91%	11.24%	30.80%
Free Cash Flow Per Share	13.94	18.66	8.72	7.84	22.61
Cash Interest Paid	264.1	245.4	252.2	262.5	280.8
Cash Income Tax Paid	864	355.1	740.7	932.9	247.9
Levered Free Cash Flow	1,982	3,419	981.44	1,393	2,208
Unlevered Free Cash Flow	2,149	3,575	1,136	1,547	2,365
Change in Working Capital	-1,058	-155.2	-648.7	-890.3	-145.5

Source: S&P Global Market Intelligence. Standard template. Financial Sources.