Ligand Pharmaceuticals Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2016 - 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2016 - 2020
Net Income	470.56	307.4	-1,019	7.98	473.84	2.39	Upgrade
Depreciation & Amortization	6.57	7.33	8.83	8.99	8.11	7.14	Upgrade
Gain (Loss) on Sale of Assets	-2.41	-15.06	-3.54	-5.94	1.26	-1.61	Upgrade
Asset Writedown	-231.21	-101.06	1,427	148.12	-443.21	78.51	Upgrade
Income (Loss) on Equity Investments	-1.42	-1.65	-	-	-	-	Upgrade
Change in Accounts Receivable	-10.1	-23.35	14.99	5.26	-11.27	18.19	Upgrade
Change in Accounts Payable	37.84	5.83	1.75	8.13	17.23	-25.79	Upgrade
Change in Other Net Operating Assets	5.44	1.23	-63.39	-8.24	32.98	-12.64	Upgrade
Other Operating Activities	72.14	106.58	-95.83	115.66	195.77	157.55	Upgrade
Operating Cash Flow	360.97	362.41	265.01	255.39	268.1	221.53	Upgrade
Operating Cash Flow Growth	5.40%	36.75%	3.77%	-4.74%	21.02%	-31.16%	Upgrade
Acquisition of Real Estate Assets	-183.09	-168.25	-203.11	-707.14	-306.24	-206.42	Upgrade
Sale of Real Estate Assets	112.67	168.99	475.29	81.94	346.7	299.13	Upgrade
Net Sale / Acq. of Real Estate Assets	-70.42	0.74	272.18	-625.21	40.45	92.71	Upgrade
Investment in Marketable & Equity Securities	-0.88	-2.06	3.66	-3.06	2.67	4.78	Upgrade
Other Investing Activities	0.01	0.01	0.01	-	-	-	Upgrade
Investing Cash Flow	-73.94	-4.59	272.31	-630.41	40.82	94.94	Upgrade
Long-Term Debt Issued	-	130	179.2	1,086	1,395	1,204	Upgrade
Long-Term Debt Repaid	-	-399.58	-392.7	-505.3	-1,311	-1,179	Upgrade
Net Debt Issued (Repaid)	-419.56	-269.58	-213.5	580.4	83.57	25.07	Upgrade
Issuance of Common Stock	345.41	345.41	1.45	0.28	-	-	Upgrade
Repurchase of Common Stock	-62.96	-26.12	-	-	-44.35	-23.05	Upgrade
Common Dividends Paid	-98.1	-143.61	-132.87	-127.54	-111.09	-101.55	Upgrade
Other Financing Activities	-203.49	-159.01	85.44	-137.11	-286.66	-165.17	Upgrade
Net Cash Flow	-151.67	104.93	277.83	-58.99	-49.61	51.77	Upgrade
Cash Interest Paid	91.9	117.91	116.8	106.31	141.34	131.04	Upgrade
Cash Income Tax Paid	6.03	0.65	2.72	5.16	14.44	29.79	Upgrade
Levered Free Cash Flow	385.42	288.13	398.53	-222.68	302.85	18.87	Upgrade
Unlevered Free Cash Flow	445.67	351.75	460.09	-176.21	350	71.78	Upgrade
Change in Net Working Capital	-247.66	-148.38	-270.48	349.12	-195.41	95.22	Upgrade

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