Repayments of long-term debt

  
Consolidated Condensed Statements of Cash Flows(Unaudited)ELI LILLY AND COMPANY AND SUBSIDIARIES(Dollars in millions) 

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | Six Months Ended June 30, |
|   | 2022 |  | 2021 |
| Cash Flows from Operating Activities |  |
| Net income | $ | 2,855.4  |  |  | $ | 2,745.5  |  |
| Adjustments to Reconcile Net Income to Cash Flows from Operating Activities: |  |  |  |
|  |  |  |  |
| Depreciation and amortization | 784.6  |  |  | 719.6  |  |
| Change in deferred income taxes | (1,125.0) |  |  | (413.8) |  |
|  |  |  |  |
| Stock-based compensation expense | 193.1  |  |  | 177.4  |  |
|  |  |  |  |
| Net investment (gains) losses | 545.6  |  |  | (518.1) |  |
| Acquired in-process research and development | 233.0  |  |  | 324.3  |  |
| Other changes in operating assets and liabilities, net of acquisitions and divestitures | (117.6) |  |  | 118.4  |  |
| Other non-cash operating activities, net | (49.2) |  |  | 319.6  |  |
| Net Cash Provided by Operating Activities | 3,319.9  |  |  | 3,472.9  |  |
| Cash Flows from Investing Activities |  |  |  |
| Net purchases of property and equipment | (736.4) |  |  | (681.6) |  |
| Proceeds from sales and maturities of short-term investments | 57.6  |  |  | 21.3  |  |
| Purchases of short-term investments | (32.9) |  |  | (26.6) |  |
| Proceeds from sales of noncurrent investments | 168.5  |  |  | 461.9  |  |
| Purchases of noncurrent investments | (251.4) |  |  | (503.1) |  |
| Cash paid for acquisitions, net of cash acquired (Note 3) | —  |  |  | (747.4) |  |
|  |  |  |  |
| Purchases of in-process research and development | (571.8) |  |  | (341.8) |  |
| Other investing activities, net | (111.3) |  |  | 50.5  |  |
| Net Cash Used for Investing Activities | (1,477.7) |  |  | (1,766.8) |  |
| Cash Flows from Financing Activities |  |  |  |
| Dividends paid | (1,769.2) |  |  | (1,543.1) |  |
| Net change in short-term borrowings | 2,117.2  |  |  | 196.3  |  |
|  |  |  |  |
| Repayments of long-term debt | (1,560.0) |  |  | —  |  |
| Purchases of common stock | (1,500.0) |  |  | (500.0) |  |
|  |  |  |  |
| Other financing activities, net | (290.0) |  |  | (294.8) |  |
| Net Cash Used for Financing Activities | (3,002.0) |  |  | (2,141.6) |  |
| Effect of exchange rate changes on cash and cash equivalents | (35.8) |  |  | (1.6) |  |
|  |  |  |  |
| Net decrease in cash and cash equivalents | (1,195.6) |  |  | (437.1) |  |
| Cash and cash equivalents at January 1 | 3,818.5  |  |  | 3,657.1  |  |
| Cash and Cash Equivalents at June 30 | $ | 2,622.9  |  |  | $ | 3,220.0  |  |

See notes to consolidated condensed financial statements.  
  
10
