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Eli Lilly and Quarterly Cash Flow Statements Chart

Quarterly
 | 
Annual
 
 Stock-Based Compensation  
 Operating Cash Flow  
 Investing Cash Flow  
 Financing Cash Flow  
 Free Cash Flow  
 Capital Expenditure  
20200930 20201231 20210331 20210630 20210930 20211231 20220331 20220630 20220930 20221231 20230331 20230630 20230930 20231231 20240331 20240630 20240930 20241231 20250331 20250630 -1.7-0.92-0.150.621.392.172.943.71Billion

Eli Lilly and Quarterly Cash Flow Statements Table

Quarterly
 | 
Annual
 
Unit: USD2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-06-30 2014-03-31 2013-09-30 2013-06-30 2013-03-31 2012-09-30 
                                                  
  cash flows from operating activities                                                
  net income5,660,500,000 2,759,300,000 4,409,800,000 970,300,000 2,967,000,000 2,242,900,000 2,189,700,000 -57,400,000 1,763,200,000 1,344,900,000 1,937,700,000 1,451,700,000 952,500,000 1,902,900,000 1,726,100,000 1,110,100,000 1,390,200,000 1,355,300,000 2,116,800,000 1,208,400,000 1,412,000,000 1,456,500,000 1,495,700,000 1,253,900,000 1,327,200,000 4,241,600,000 1,125,000,000 1,149,500,000 -259,900,000 1,217,400,000 -1,656,900,000 555,600,000 1,008,000,000 -110,800,000 771,800,000 778,000,000 747,700,000 440,100,000 478,400,000 799,700,000 600,800,000 529,500,000 733,500,000 727,900,000 1,203,100,000 1,206,200,000 1,548,000,000 1,326,600,000 
  adjustments to reconcile net income to cash flows from operating activities:                                                
  depreciation and amortization478,500,000 462,800,000 484,800,000 466,800,000 414,400,000 400,600,000 387,700,000 411,000,000 366,300,000 362,300,000 375,000,000 362,900,000 348,900,000 435,700,000 445,700,000 382,300,000 369,300,000 350,300,000 367,500,000 358,400,000 324,400,000 273,600,000 340,700,000 288,000,000 247,400,000 356,500,000 345,500,000 415,500,000 425,200,000 422,800,000 411,900,000 372,900,000 395,600,000 386,900,000 344,600,000 392,800,000 373,700,000 385,500,000 343,400,000 358,300,000 368,500,000 357,500,000 348,400,000 348,800,000 349,000,000 363,900,000 381,500,000 369,700,000 
  change in deferred income taxes-1,068,700,000 -391,600,000 -966,700,000 -429,800,000 -1,007,600,000 -279,000,000 -506,200,000 -844,300,000 -431,100,000 -559,400,000 10,400,000 -1,070,600,000 -618,400,000 -506,600,000 -92,500,000 -296,000,000 -294,700,000 -119,100,000 -200,700,000 159,700,000 -104,700,000 11,200,000 85,800,000 -12,100,000 61,100,000 -72,400,000 165,200,000 26,800,000 157,500,000 -22,700,000 -939,600,000 -143,400,000 166,300,000 128,800,000 88,700,000 182,200,000 138,000,000 30,600,000 -77,400,000 -4,500,000 -559,400,000 -107,100,000 27,700,000 93,500,000 608,700,000 249,900,000 -51,000,000 55,500,000 
  stock-based compensation expense185,100,000 153,700,000 141,900,000 133,200,000 211,100,000 159,400,000 120,200,000 215,600,000 161,500,000 131,200,000 92,900,000 85,100,000 92,100,000 101,000,000 75,300,000 90,100,000 91,900,000 85,500,000 87,800,000 71,700,000 76,800,000 71,800,000 81,600,000 75,500,000 79,500,000 75,800,000 72,800,000 68,500,000 70,200,000 68,000,000 72,200,000 69,900,000 69,900,000 69,300,000 66,800,000 61,500,000 65,000,000 62,000,000 58,400,000 54,700,000 55,800,000 48,900,000 38,600,000 38,300,000 36,300,000 33,600,000 35,200,000 34,500,000 
  net investment losses   -112,400,000    64,500,000 65,800,000 14,200,000                                       
  acquired in-process research and development153,800,000 1,571,700,000 189,200,000 2,826,400,000 154,300,000 110,500,000 622,600,000 2,975,100,000 97,100,000 105,000,000 168,900,000 19,000,000 80,000,000 153,000,000 376,600,000 174,000,000 25,000,000 299,300,000 366,300,000 241,800,000 52,300,000 77,700,000 25,000,000 136,900,000 329,400,000 30,000,000   50,000,000 205,000,000 857,600,000     199,000,000 80,000,000 256,000,000       
  other changes in operating assets and liabilities, net of acquisitions                           293,900,000 -662,100,000 -1,270,000,000  593,300,000 -123,500,000 -995,000,000               
  other operating activities54,400,000 324,800,000 542,800,000 -32,100,000 -31,900,000 298,600,000 192,300,000 485,600,000 -550,700,000 168,300,000                                 67,700,000 5,100,000 21,300,000 7,000,000 9,200,000 41,500,000 
  net cash from operating activities3,086,900,000 1,665,600,000 2,473,800,000 3,711,900,000 1,466,200,000 1,166,000,000 -311,900,000 2,189,500,000 631,900,000 1,730,600,000 1,579,700,000 2,184,800,000 820,700,000 2,499,200,000 2,156,500,000 1,631,300,000 1,775,500,000 1,697,400,000 1,815,200,000 1,806,600,000 2,495,400,000 382,400,000 1,963,700,000 1,510,100,000 1,051,500,000 311,300,000 1,448,700,000 2,121,800,000 1,517,500,000 436,500,000 1,743,500,000 1,881,100,000 1,651,100,000 339,900,000 2,116,900,000 1,659,200,000 1,401,800,000 -326,900,000 804,300,000 1,104,700,000 948,600,000 -84,800,000 1,053,900,000 272,300,000 1,991,600,000 1,637,200,000 379,400,000 1,544,300,000 
  capex-1,697,100,000 -1,509,500,000 -1,496,000,000 -1,350,700,000 -1,224,800,000 -986,300,000 -1,070,600,000 -970,300,000 -738,200,000 -668,500,000 -617,200,000 -371,000,000 -365,400,000 -336,800,000 -381,300,000 -300,300,000 -393,100,000 -281,800,000 -258,300,000 -263,400,000 -240,300,000 -203,700,000 -269,800,000 -310,000,000 -236,500,000 -242,700,000 -221,600,000 -169,000,000 -227,500,000 -245,400,000 -154,300,000 -273,500,000 -223,900,000 -188,600,000 -254,900,000 -202,000,000 -253,800,000 -136,400,000 -157,900,000 -182,000,000 
  free cash flows1,389,800,000 156,100,000 977,800,000 2,361,200,000 241,400,000 179,700,000 -1,382,500,000 1,219,200,000 -106,300,000 1,062,100,000 1,579,700,000 1,567,600,000 449,700,000 2,133,800,000 2,156,500,000 1,294,500,000 1,394,200,000 1,397,100,000 1,815,200,000 1,413,500,000 2,213,600,000 124,100,000 1,963,700,000 1,246,700,000 811,200,000 107,600,000 1,448,700,000 1,852,000,000 1,207,500,000 200,000,000 1,743,500,000 1,638,400,000 1,429,500,000 170,900,000 2,116,900,000 1,431,700,000 1,156,400,000 -481,200,000 804,300,000 831,200,000 724,700,000 -273,400,000 799,000,000 70,300,000 1,737,800,000 1,500,800,000 221,500,000 1,362,300,000 
  cash flows from investing activities                                                
  purchases of property and equipment-1,697,100,000 -1,509,500,000 -1,496,000,000 -1,350,700,000 -1,224,800,000 -986,300,000 -1,070,600,000 -970,300,000 -738,200,000 -668,500,000                                       
  proceeds from sales of and distributions from noncurrent investments204,300,000 71,600,000 55,600,000 67,900,000 179,600,000 70,500,000 31,900,000 87,800,000 106,500,000 281,900,000                                       
  purchases of noncurrent investments-171,200,000 -196,700,000 -152,200,000 -275,000,000 -133,000,000 -117,100,000 -256,000,000 -131,400,000 -197,400,000 -146,000,000 -126,100,000 -222,700,000 -134,700,000 -116,700,000 -219,800,000 -207,000,000 -211,600,000 -291,500,000 -135,000,000 -68,900,000 -71,800,000 -83,000,000 -50,800,000 -50,100,000 -86,000,000 -60,600,000 -118,200,000 -43,200,000 -114,900,000 -561,600,000 -872,000,000 -1,380,800,000 -1,412,900,000 -945,900,000 -705,300,000 -1,371,500,000 -1,552,500,000 -716,700,000 -553,100,000 -840,600,000 -908,400,000 -924,400,000 -2,824,500,000 -2,770,200,000 -3,763,400,000 -4,614,700,000 -1,861,400,000 -2,030,200,000 
  cash paid for acquisitions, net of cash acquired            -747,400,000 -849,300,000 -6,917,700,000     -882,100,000   4,700,000 -11,100,000 -5,276,700,000      
  purchases of in-process research and development-106,800,000 -1,757,000,000 -251,200,000 -2,820,100,000 -178,000,000 -96,500,000 -580,500,000 -3,030,900,000 -98,100,000 -235,000,000 -54,900,000 -3,000,000 -80,000,000 -491,800,000 -102,800,000 -118,800,000 -150,000,000 -191,800,000 -364,800,000 -22,000,000 -241,400,000 -13,000,000                          
  other investing activities-64,100,000 39,300,000 -158,800,000 -169,800,000 95,600,000 -65,200,000 -22,800,000 -666,200,000 456,800,000 40,300,000 61,900,000 -157,000,000 22,100,000 -133,400,000 27,000,000 -53,200,000 72,400,000 -21,900,000 86,500,000 12,200,000 -47,300,000 51,400,000 232,000,000 -141,500,000 46,400,000 -385,600,000 -2,500,000 -143,500,000 -24,100,000 -21,200,000 -37,800,000 -61,100,000 -109,100,000 -7,800,000 -55,000,000 -43,300,000 4,700,000 -36,500,000 -30,900,000 -41,000,000 -59,000,000 -2,700,000 -19,600,000 -11,900,000 -35,800,000 -37,300,000 -18,400,000 49,700,000 
  net cash from investing activities-1,834,900,000 -3,352,300,000 -1,920,500,000 -4,004,700,000 -2,198,700,000 -1,177,600,000 -2,924,300,000 -3,080,500,000 -459,100,000 -688,800,000 -860,500,000 -923,400,000 -463,900,000 -1,013,800,000 -379,000,000 -616,500,000 -483,300,000 -1,283,500,000 -674,100,000 -313,500,000 -210,400,000 -1,060,900,000 -41,400,000 -423,800,000 61,000,000 -7,678,700,000 -659,000,000 -398,100,000 3,133,400,000 -170,300,000 1,652,900,000 -1,758,000,000 -2,248,900,000 -1,429,600,000 -1,178,100,000 -794,700,000 -1,020,900,000 -145,400,000 253,700,000 -570,100,000 182,400,000 160,800,000 -468,900,000 388,400,000 -943,800,000 -1,251,700,000 1,355,100,000 -132,700,000 
  cash flows from financing activities                                                
  dividends paid-1,347,000,000 -1,346,300,000 -1,168,300,000 -1,170,500,000 -1,172,400,000 -1,169,200,000 -1,018,100,000 -1,016,200,000 -1,017,800,000 -1,017,200,000 -884,400,000 -882,200,000 -883,700,000 -885,500,000 -773,300,000 -770,400,000 -768,300,000 -774,800,000 -670,000,000 -671,600,000 -674,200,000 -671,300,000 -587,200,000 -587,400,000 -598,000,000 -637,200,000 -572,600,000 -572,600,000 -579,300,000 -587,300,000 -548,300,000 -547,700,000 -548,700,000 -547,400,000 -541,100,000 -537,900,000 -541,200,000 -538,300,000 -533,300,000 -526,300,000 -539,800,000 -527,900,000 -526,900,000 -524,100,000 -527,700,000 -533,000,000 -531,100,000 -544,200,000 
  net change in short-term borrowings1,602,800,000 -1,848,700,000 3,042,300,000 -3,089,400,000 3,400,100,000 -5,204,800,000 4,594,400,000 1,595,000,000 -1,498,000,000 -243,300,000 -375,900,000 1,617,500,000 499,700,000 -2,500,000 -197,800,000 200,000,000 -3,700,000 -579,900,000 -678,900,000 -1,984,100,000 1,748,700,000 -63,500,000 -505,400,000 -286,100,000 1,850,400,000 99,200,000 -2,048,400,000 953,800,000 -1,202,500,000 170,700,000 1,101,100,000 -371,800,000 497,500,000 1,294,900,000 -300,000            -500,000 
  proceeds from issuance of long-term debt6,461,000,000 4,964,600,000 6,452,500,000 3,958,500,000        1,073,700,000   2,108,100,000 4,448,300,000        100,000 2,272,600,000 2,182,000,000 992,900,000     
  repayments of long-term debt        -849,900,000 -710,100,000 -100,000    -200,000 -276,300,000 -2,266,100,000 -100,000 -200,000 -600,000,000 -7,600,000 -201,200,000 -800,300,000 -100,000 -300,000 -630,200,000               
  purchases of common stock-692,200,000 -1,200,000,000 -2,053,900,000    -750,000,000 -1,500,000,000 -750,000,000   -500,000,000 -300,000,000 -600,000,000 -3,500,000,000 -1,100,000,000 -1,000,000,000 -950,700,000 -1,100,000,000 -99,900,000   -300,000,000 -300,100,000 -252,900,000 -61,100,000 -124,900,000 -310,600,000 -145,000,000 -55,000,000 -1,198,100,000  
  other financing activities-30,400,000 -686,300,000 -45,500,000 -47,300,000 -8,000,000 -389,800,000 -31,600,000 -6,800,000 -15,600,000 -281,000,000 -13,700,000 -5,200,000 -7,600,000 -282,400,000 -600,000 -500,000 -14,900,000 -279,900,000 -41,400,000 -2,300,000 -3,500,000 -194,400,000 -4,900,000 -1,500,000 -193,700,000 -58,700,000 -83,700,000 -54,000,000 -176,400,000 -64,800,000 -52,600,000 -51,400,000 -195,600,000 -179,000,000 -59,300,000 -85,600,000 23,100,000 111,500,000 -5,000,000 -12,700,000 45,400,000 -1,100,000 -6,900,000     
  net cash from financing activities-1,244,900,000 1,379,700,000 -225,400,000 211,300,000 1,555,500,000 -311,300,000 3,544,700,000 572,000,000 -1,033,400,000 412,300,000 -1,141,400,000 -1,263,300,000 -123,700,000 -2,878,300,000 -1,526,500,000 -463,200,000 -1,083,200,000 -1,058,400,000 -1,291,500,000 -279,100,000 -1,673,200,000 106,700,000 -1,113,600,000 -1,692,900,000 -885,800,000 1,367,800,000 -1,639,700,000 432,700,000 -831,400,000 -3,866,500,000 -542,300,000 500,700,000 1,059,900,000 -875,700,000 274,800,000 -597,600,000 579,400,000 -816,400,000 -679,600,000 -595,200,000 -943,200,000 -701,200,000 -702,500,000 -595,100,000 -529,000,000 -533,800,000 -1,730,100,000 -544,700,000 
  effect of exchange rate changes on cash and cash equivalents275,500,000 131,900,000 -428,500,000 226,900,000 -59,600,000 -35,500,000 129,300,000 5,300,000 9,200,000 24,800,000 -128,200,000 -3,600,000 -69,400,000 33,600,000 -220,700,000 16,600,000 8,600,000 -10,200,000 212,200,000 16,200,000 54,300,000 -66,700,000 -35,000,000 -119,800,000 27,100,000 37,800,000 -111,800,000 -13,700,000 -86,500,000 148,400,000 -42,200,000 30,600,000 -9,100,000 200,000 -120,500,000 -15,900,000 -29,900,000 -70,100,000 49,200,000 -16,100,000 62,900,000 -181,600,000 -4,800,000 -7,800,000 63,600,000 -1,800,000 -86,600,000 106,500,000 
  net increase in cash and cash equivalents  -100,600,000 145,400,000 763,400,000 -358,400,000 437,800,000 -313,700,000 -851,400,000 1,478,900,000     30,300,000 568,200,000   61,800,000 1,230,200,000   773,700,000 -726,400,000   -961,800,000 2,142,700,000              -806,800,000  57,800,000    973,400,000 
  cash and cash equivalents at january 13,268,400,000  2,818,600,000  2,067,000,000  3,818,500,000  3,657,100,000  2,337,500,000  7,998,200,000  6,536,200,000  4,582,100,000  3,666,400,000  3,871,600,000 3,830,200,000 4,018,800,000 
  cash and cash equivalents at june 30                                                
  net investment (gains) losses 149,100,000    -15,800,000     -256,400,000 130,800,000 119,500,000 426,100,000                                   
  other changes in operating assets and liabilities, net of acquisitions and divestitures -3,364,200,000  -9,800,000 -1,399,100,000 -1,751,200,000  793,300,000 -840,200,000 164,100,000  939,100,000 -72,100,000 -45,500,000  -666,500,000 221,200,000 -102,800,000  249,400,000 926,500,000 -1,408,100,000  -247,300,000 -802,100,000 -714,300,000          184,100,000 29,600,000 -1,429,500,000  26,200,000 227,400,000 -913,700,000 -80,000,000 -941,300,000 -226,800,000 -223,400,000 -1,048,100,000  
  net decrease in cash and cash equivalents -175,100,000          -5,500,000 163,700,000 -1,359,300,000    -654,700,000    -638,500,000    -5,961,800,000    -3,451,900,000  654,400,000 453,000,000 -1,965,200,000  251,000,000 930,400,000 -1,358,800,000  -76,700,000      -150,100,000 -82,200,000  
  cash and cash equivalents at march 31 3,093,300,000    2,460,200,000    3,545,900,000    2,459,200,000    3,002,400,000    1,699,000,000    2,036,400,000    3,084,300,000    2,616,900,000    2,307,600,000    3,064,800,000  3,888,000,000   3,936,600,000  
  investment (gains) losses                                                
  gains on sale of product rights  -123,100,000    -25,000,000                                          
  other changes in operating assets and liabilities, net of acquisitions and divestitures:                                                
  receivables—increase                                                
  inventories—increase                                                
  prepaid expenses and other assets—increase                                                
  accounts payable and other liabilities—increase                                                
  proceeds from sales and maturities of short-term investments  41,600,000 31,900,000 34,000,000 41,400,000 37,000,000 45,600,000 48,100,000 61,500,000 38,300,000 25,500,000 30,900,000 26,700,000 800,000 25,300,000 17,300,000 4,000,000 10,900,000 7,600,000 74,400,000 36,800,000 20,300,000 26,900,000 53,500,000 35,900,000 17,000,000 38,800,000 2,046,000,000 450,700,000 2,532,300,000 642,600,000 509,200,000 1,168,400,000 396,100,000 320,500,000 403,800,000 521,600,000 576,000,000 300,500,000 778,100,000 507,200,000 722,800,000 1,166,900,000 396,200,000 374,400,000 1,607,500,000  
  purchases of short-term investments  -29,900,000 -19,800,000 -24,400,000 -24,400,000 -19,000,000 -19,400,000 -36,800,000 -23,000,000 -42,400,000 -32,100,000 -18,300,000 -14,600,000 -55,600,000 -1,300,000 -7,200,000 -19,400,000    -8,600,000 -400,000 -33,700,000 -112,200,000 -415,900,000 -1,090,300,000 -1,594,100,000 -289,400,000 -901,700,000 -160,400,000 -166,900,000 -98,400,000 -78,000,000 -175,700,000 -422,700,000 -165,800,000 -401,700,000 -402,800,000 -263,000,000 -202,500,000 -313,100,000  
  proceeds from sale of product rights  70,400,000                                   410,000,000       
  cash and cash equivalents at beginning of year                                                
  cash and cash equivalents at end of year                                                
  cash and cash equivalents at september 30                                                
  debt extinguishment loss                                              
  other assets—increase                                                
  other non-cash operating activities          87,200,000 266,800,000 -81,800,000 32,600,000 6,700,000 185,100,000 188,500,000 131,100,000 121,700,000 -96,500,000 383,600,000 -74,900,000 193,200,000 74,400,000 113,400,000 -32,300,000 151,300,000 137,600,000 162,100,000 21,000,000 75,800,000 227,800,000 134,800,000 3,100,000 83,300,000 60,600,000 51,200,000 184,400,000 227,100,000 -129,700,000 -11,400,000 -49,600,000       
  income taxes payable—increase                                                
  proceeds from sales of noncurrent investments          90,600,000 83,100,000 87,100,000 81,400,000 262,800,000 75,300,000 177,100,000 284,800,000 183,000,000 162,100,000 357,500,000 54,500,000 111,400,000 82,000,000 332,800,000 83,600,000 64,800,000 49,600,000 3,084,600,000 310,500,000 899,100,000 579,300,000 579,600,000 528,000,000 479,200,000 687,500,000 580,400,000 338,900,000 796,600,000 521,300,000 1,154,300,000 596,200,000       
  net purchases of property and equipment           -617,200,000 -371,000,000 -365,400,000  -336,800,000 -381,300,000 -300,300,000  -393,100,000 -281,800,000 -258,300,000  -263,400,000 -240,300,000 -203,700,000  -269,800,000 -310,000,000 -236,500,000  -242,700,000 -221,600,000 -169,000,000  -227,500,000 -245,400,000 -154,300,000  -273,500,000 -223,900,000 -188,600,000 -254,900,000 -202,000,000 -253,800,000 -136,400,000 -157,900,000 -182,000,000 
  gain related to disposition of elanco                      -3,680,500,000                       
  gain on sale of antibiotic business in china                                                
  net investment gains              93,100,000 247,000,000 -215,900,000 -302,200,000 -529,000,000 -144,500,000                             
  cash distributed to elanco upon disposition                                                
  cash received for sale of antibiotic business in china                                                
  net proceeds from elanco initial public offering                                               
  adjustments to reconcile net incometo cash flows from operating activities:                                                
  purchase of in-process research and development                        -45,000,000 -196,900,000  -30,000,000    -205,000,000 -831,800,000      -50,000,000 -136,000,000 -200,000,000       
  proceeds from disposals of property and equipment                                                
  disposals of property and equipment                                                
  cash released for pending acquisition                                                
  net proceeds from (payments for) terminations of interest rate swaps                                                
  cash released                                                
  purchase of product rights                                          -46,300,000 -25,000,000     
  net payments for terminations of interest rate swaps                                               
  restricted cash released for acquisition                                       5,405,600,000       
  repayment of long-term debt                                   -100,000    -1,400,000 -1,947,700,000 -1,500,000 -31,800,000 -1,002,000,000 -1,300,000 -800,000 -900,000 
  net change in short term borrowings                                     -1,100,000  -1,400,000 -590,700,000 -2,088,600,000       
  income related to termination of the exenatide collaboration with amylin pharmaceuticals, inc.                                                
  net proceeds (payments) for terminations of interest rate swaps                                                
  payments for terminations of interest rate swaps                                         -206,300,000       
  adjustments to reconcile net incometo cash flows from operating activities                                                
  net realized investment gains                                                
  impairment charges, indefinite lived intangibles                                                
  acquired in-process research and development, net of tax                                                
  income related to termination of the exenatide collaboration with amylin                                                
  proceeds from terminations of interest rate swaps                                                
  changes in operating assets and liabilities, net of acquisitions:                                                
  cash restricted for pending acquisition                                                
  proceeds from prepayment of revenue-sharing obligation                                                
  income related to termination of the exenatide collaboration                                                
  proceeds from sales and maturities of noncurrent investments                                           2,633,400,000 3,019,700,000 3,364,800,000 2,098,400,000 1,106,100,000 
  net change in loan to collaboration partner                                                
  income related to transfer of exenatide rights                                             -495,400,000  
  income related to prepayment of revenue-sharing obligation                                                
  other changes in operating assets and liabilities                                               488,300,000 
  net change in short-term investments                                               -351,400,000 
  cash and cash equivalents at sept 30                                                
  loan to collaboration partner                                                

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