Eli Lilly and Company

NYSE-LLY

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Operating Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Net Income	18,412.1	10,590	5,240.4	6,244.8	5,581.7	6,193.7	8,318.4	3,232	-204.1	2,737.6	2,408.4
Net Income
Depreciation & Amortization	1,896.1	1,766.6	1,527.3	1,522.5	1,547.6	1,323.9	1,232.6	1,609	1,567.3	1,496.6	1,427.7
Depreciation and Amortization
Stock Based Compensation	631.8	645.6	628.5	371.1	342.8	308.1	312.4	279.5	281.3	255.3	217.8
Stock-Based Compensation Expense
Other Adjustments	694.6	423.3	-396.6	-1,013.2	179	-912.6	-3,838.9	2,283.7	324.7	469.5	-213.4
Gain Related to Disposition of Elanco
Gain on Sale of Antibiotic Business in China
Debt Extinguishment Gain
Change in Deferred Income Taxes
Net Investment Gains
Impairment Charges, Indefinite Lived Intangibles
Acquired in-Process Research and Development, Net of Tax
Asset Impairments, Restructuring, and Other Special Charges, Net of Tax
Net Marketing Investigation Charges Accrued
Net Marketing Investigation Charges Paid
Gains on Sale of Product Rights
Acquired in-Process Research and Development
Income Related to Termination of the Exenatide Collaboration with Amylin Pharmaceuticals, Inc.
Net Proceeds from Terminations of Interest Rate Swaps
Changes in Trade Receivables	—	-2,155.2	-2,451	-299.6	-1,278.3	-1,350.2	-127.2	-996.7	-357	-709.4	-304.5
Change in Receivables
Changes in Inventories	—	-2,507.4	-1,425	-599.7	-235.9	-533.4	-258.7	7.8	-253.9	-328.2	-736.3
Change in Inventories
Changes in Accounts Payable	—	2,608.8	4,274.4	1,692	-1,013.8	1,271.3	-477.7	-284.5	916.3	1,123.8	207.9
Change in Accounts Payable and Other Liabilities
Changes in Income Taxes Payable	—	—	—	—	—	322	-221.3	-125.3	3,489.6	-304.8	-17.8
Change in Income Taxes Payable
Changes in Other Operating Activities	-481.4	-2,553.8	-3,157.9	-332.2	2,242.8	-123.2	-103	-481	-148.6	110.6	-25.2
Other Changes in Operating Assets and Liabilities, Net of Acquisitions
Other Operating Activities, Net
Change in Prepaid Expenses and Other Assets
Cash from Operating Activities	16,062.2	8,817.9	4,240.1	7,585.7	7,365.9	6,499.6	4,836.6	5,524.5	5,615.6	4,851	2,964.6
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	Dec '15
Capital Expenditure	-6,790.3	-5,057.8	-3,447.6	-1,854.3	-1,309.8	-1,387.9	-1,033.9	-1,210.6	-1,076.8	-1,037	-1,066.2
Purchases of Property and Equipment
Proceeds from Sale of Property, Plant & Equipment	—	—	—	—	—	—	—	—	—	73.4	92.6
Proceeds from Disposals of Property and Equipment
Purchases of Intangible Assets	-2,835.5	-3,345.8	-3,944.5	-1,131	-668.6	-641.2	-319.6	-1,807.6	-1,086.8	-55	-560
Purchase of Product Rights
Purchases of in-Process Research and Development
Proceeds from Sale of Intangible Assets	—	601.3	1,604.3	95.8	216	—	—	—	—	—	410
Proceeds from Sale of Product Rights
Purchases of Investments	-670.2	-775.8	-829	-707.6	-1,013.4	-370.1	-290.2	-950.1	-8,001.3	-5,673.4	-4,068.7
Purchases of Short-Term Investments
Purchases of Noncurrent Investments
Proceeds from Sale of Investments	887.6	522.5	700.3	463.6	847.4	886.8	746.4	6,062	7,438.5	3,728	5,230.2
Proceeds from Sales and Maturities of Short-Term Investments
Proceeds from Sales of and Distributions from Noncurrent Investments
Payments for Business Acquisitions	—	-947.7	-1,044.3	-327.2	-747.4	-849.3	-6,917.7	—	-882.1	-45	-5,283.1
Cash Paid for Acquisitions, Net of Cash Acquired
Proceeds from Business Divestments	—	—	—	—	—	—	354.8	—	—	—	—
Cash Received for Sale of Antibiotic Business in China
Other Investing Activities	-784.2	-298.2	-191.9	-302.2	-191.7	102.8	-622.7	-187.7	-175.1	-130.1	5,272
Net Change in Short-Term Investments
Cash Released for Pending Acquisition
Net Change in Loan to Collaboration Partner
Proceeds from Prepayment of Revenue-Sharing Obligation
Cash Distributed to Elanco Upon Disposition
Other Investing Activities, Net
Cash from Investing Activities	-10,090.3	-9,301.5	-7,152.7	-3,762.9	-2,867.5	-2,258.9	-8,082.9	1,906	-3,783.6	-3,139.1	26.8
Net Cash 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	Dec '15
Issuance of Short-Term Debt	-1,295.3	-1,851.8	4,691.4	1,498	-4	-1,494.2	995.4	-2,197.9	1,397.5	1,293.2	-2,680.6
Net Change in Short-Term Borrowings
Net Issuance / (Repayments) of Short-Term Debt	-1,295.3	-1,851.8	4,691.4	1,498	-4	-1,494.2	995.4	-2,197.9	1,397.5	1,293.2	-2,680.6
Issuance of Long-Term Debt	18,880	11,417.1	3,958.5	—	2,410.8	2,062.3	6,556.4	2,477.7	2,232	1,206.6	4,454.7
Proceeds from Issuance of Long-Term Debt
Repayments of Long-Term Debt	—	-664.2	—	-1,560	-1,905.4	-276.5	-2,866.4	-1,009.1	-630.6	-0.2	-1,955.7
Repayments of Long-Term Debt
Net Issuance / (Repayments) of Long-Term Debt	18,880	10,752.9	3,958.5	-1,560	505.4	1,785.8	3,690	1,468.6	1,601.4	1,206.4	2,499
Issuance of Common Shares	—	—	—	—	—	—	—	1,659.7	—	—	—
Issuances of Common Stock Under Stock Plans
Net Proceeds from Elanco Initial Public Offering
Repurchases of Common Shares	-4,654.2	-2,500	-750	-1,500	-1,250	-500	-4,400	-4,150.7	-299.8	-600.1	-749.5
Purchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	-4,654.2	-2,500	-750	-1,500	-1,250	-500	-4,400	-2,491	-299.8	-600.1	-749.5
Common Share Dividends Paid	-5,206.8	-4,680.4	-4,069.3	-3,535.8	-3,086.8	-2,687.1	-2,409.8	-2,311.8	-2,192.1	-2,158.5	-2,127.3
Dividends Paid
Other Financing Activities	-2,087.7	-2,342.4	4,356.4	1,189.1	-299.9	-1,735.8	795.3	-911	1,033.1	992.4	-2,733.2
Other Financing Activities, Net
Net Change in Short-Term Borrowings
Net Proceeds from Elanco Initial Public Offering
Cash from Financing Activities	440.4	1,230.1	3,495.6	-5,406.7	-4,131.3	-3,137.1	-2,324.5	-5,904.9	142.6	-559.8	-3,111
Net Cash Provided by Financing Activities

Free Cash Flow	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Free Cash Flow	9,271.9	3,760.1	792.5	5,731.4	6,056.1	5,111.7	3,802.7	4,313.9	4,538.8	3,814	1,898.4
NOPAT	18,880.7	10,772.6	5,163.1	6,539.2	5,764.5	5,189.8	4,381.1	3,025.9	-75.1	2,646.1	2,321.6
Levered Free Cash Flow	30,621.2	13,747.5	11,661.5	6,611.1	7,314	7,358	12,141.8	2,018.1	7,288.7	6,298.2	2,016.9
Unlevered Free Cash Flow	13,505.1	5,029	2,934.3	6,967.5	6,995.4	6,062.5	3,519.1	2,541.3	4,418.8	3,707.1	2,111.7
Net Change in Cash	6,412.3	746.5	583	-1,583.9	367.1	1,103.6	-5,570.8	1,525.6	1,974.6	1,152.1	-119.6