Elanco Animal Health Incorporated

NYSE-ELAN

Operating Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16
Net Income	36	338	-1,231	-78	-483	-574	68	86.5	-310.7	-47.9
Net Income
Depreciation & Amortization	670	662	694	682	716	517	314	296	318.4	254.4
Depreciation and Amortization
Share-Based Compensation Expense	67	55	46	59	66	47	49	26	25	20.4
Stock-Based Compensation Expense
Other Adjustments	-6	-663	1,062	251	272	-200	21	108	87.6	98.4
Goodwill Impairment
Deferred Income Taxes
Asset Impairment and Write-Down Charges
Inventory Fair Value Step-Up Amortization
Gain on Divestiture
Gain on Divestitures
Loss on Extinguishment of Debt
Proceeds from Interest Rate Swap Settlements
Other Non-Cash Operating Activities, Net
Changes in Trade Receivables	—	12	-40	14	-35	24	-172	-122	48.4	-80.7
Change in Receivables
Changes in Inventories	—	44	-160	-269	29	-95	-34	-20.1	-39	-89.1
Inventories
Changes in Accounts Payable	—	82	-94	-98	-116	362	-29	116.1	-8.4	37.1
Accounts Payable and Other Liabilities
Changes in Other Operating Activities	-219	11	-6	-109	34	-122	7	-3.2	52.5	-36.7
Changes in Operating Assets and Liabilities, Net of Acquisitions and Divestitures
Other Assets
Other Changes in Operating Assets and Liabilities
Cash from Operating Activities	629	541	271	452	483	-41	224	487.3	173.8	155.9
Net Cash Provided by Operating Activities

Investing Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16
Capital Expenditure	-261	-147	-140	-171	-159	-135	-140	-134.5	-98.6	-110.3
Purchases of Property and Equipment
Net Purchases of Property and Equipment and Software
Purchases of Intangible Assets	—	-14	-14	-13	-38	-5,177	-57	-2	-18.5	—
Purchases of Intangible Assets
Purchases of Software
Payments for Business Acquisitions	—	-41	-19	—	-342	—	-33	—	-882.1	-45
Cash Paid for Acquisitions, Net of Cash Acquired
Proceeds from Business Divestments	—	1,360	—	13	—	507	—	9.4	37.6	7.4
Divestiture Proceeds
Proceeds from Aqua Business Divestiture
Proceeds from Divestitures
Other Investing Activities	2	—	4	-8	9	26	-5	0.1	-3	-34.2
Other Investing Activities, Net
Cash from Investing Activities	-305	1,158	-169	-179	-530	-4,779	-235	-127	-964.6	-182.1
Net Cash (Used For) Provided by Investing Activities

Financing Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16
Issuance of Short-Term Debt	—	220	600	563	500	—	—	—	—	—
Proceeds from Revolving Credit Facility
Proceeds from Securitization Facility
Repayments of Short-Term Debt	—	-445	-275	-813	-250	—	—	—	—	—
Repayments of Revolving Credit Facility
Repayments of Securitization Facility
Net Issuance / (Repayments) of Short-Term Debt	—	-225	325	-250	250	—	—	—	—	—
Issuance of Long-Term Debt	—	350	—	425	500	4,804	—	2,500	—	—
Proceeds from Issuance of Long-Term Debt
Repayments of Long-Term Debt	-575	-1,600	-402	-677	-573	-952	-121	-7.5	—	—
Repayments of Long-Term Borrowings
Net Issuance / (Repayments) of Long-Term Debt	-575	-1,250	-402	-252	-73	3,852	-121	2,492.5	—	—
Issuance of Common Shares	—	—	—	—	—	1,220	—	1,659.7	—	—
Proceeds from Issuance of Common Stock and Tangible Equity Units
Net Issuance / (Repurchases) of Common Shares	—	—	—	—	—	1,220	—	1,659.7	—	—
Other Financing Activities	11	-17	-6	-47	33	-118	-184	-4,187.4	847.5	-149.6
Debt Issuance Costs
Consideration Paid to Lilly in Connection with the Separation
Other Net Transactions with Lilly
Funding Related to Construction of Corporate Headquarters
Other Financing Activities, Net
Cash from Financing Activities	-289	-1,492	-83	-549	210	4,954	-305	-35.2	847.5	-149.6
Net Cash Used for Financing Activities

Free Cash Flow	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16
Free Cash Flow	368	394	131	281	324	-176	84	352.8	75.2	45.6
NOPAT	-542.3	173.8	335.8	416	257.1	-69.5	323.4	237.9	190.2	605.6
Levered Free Cash Flow	-349	-485	-1,014	-545	198	3,805	65	2,833.3	-85.8	7.5
Unlevered Free Cash Flow	-352.3	825.8	629.8	451	761.1	457.5	441.4	492.2	415.1	661
Net Change in Cash	35	207	19	-276	163	134	-316	325.1	56.7	-175.8