← THERMO FISHER SCIENTIFIC INC.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 TTM
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $2.0b
$2.2b +10.05%
$2.9b +32.04%
$3.7b +25.80%
$6.4b +72.48%
$7.7b +21.22%
$7.0b -9.94%
$6.0b -14.44%
$6.3b +6.43%
$6.7b +5.77%
—
Net Income (Loss) Available to Common Stockholders, Basic $2.0b
$2.2b +10.05%
$2.9b +32.04%
$3.7b +25.80%
$6.4b +72.48%
$7.7b +21.18%
$7.0b -10.03%
$6.0b -13.74%
$6.3b +5.67%
$6.7b +6.09%
—
Net Income (Loss) Attributable to Noncontrolling Interest — — — — — $3.0m $10.0m ($40.0m) $3.0m $17.0m —
Amortization of Intangible Assets $1.4b $1.6b $1.7b $1.7b $1.7b $1.8b $2.4b $2.3b $2.0b $1.7b —
Amortization of acquisition-related intangible assets — $1.6b $1.7b $1.7b $1.7b $1.8b $2.4b $2.3b $2.0b $1.7b —
Depreciation $380.0m $439.0m $526.0m $564.0m $658.0m $831.0m $986.0m $1.1b $1.2b $1.1b $1.2b
Depreciation, Depletion and Amortization $1.8b $2.0b $2.3b $564.0m $658.0m $831.0m $986.0m $1.1b $1.2b $1.1b $2.9b
Change in deferred income taxes ($620.0m) ($1.1b) ($379.0m) ($302.0m) ($552.0m) ($647.0m) ($995.0m) ($1.3b) ($1.2b) ($639.0m) —
Deferred Income Tax Expense (Benefit) ($639.3m) ($1.7b) ($474.0m) ($499.0m) ($269.0m) ($645.0m) ($997.0m) ($1.3b) ($1.2b) ($639.0m) ($504.0m)
Share-based Payment Arrangement, Noncash Expense $133.5m $159.0m $181.0m $181.0m $196.0m $230.0m $307.0m $278.0m $301.0m $310.0m $319.0m
Stock-based compensation $133.5m $159.0m $181.0m $181.0m $196.0m $230.0m $307.0m $278.0m $301.0m $310.0m $319.0m
Impairment of Intangible Assets (Excluding Goodwill) — — — — — $122.0m — — — — —
Income (Loss) from Equity Method Investments — — — — — ($4.0m) ($172.0m) ($59.0m) ($42.0m) ($41.0m) —
Other Nonoperating Income (Expense) ($4.1m) ($28.0m) $9.0m ($72.0m) ($81.0m) ($694.0m) ($104.0m) ($65.0m) $12.0m ($12.0m) —
Changes in operating assets and liabilities:
Accounts receivable ($352.2m) ($362.0m) ($366.0m) ($225.0m) ($1.3b) ($204.0m) ($430.0m) ($43.0m) ($171.0m) ($426.0m) ($426.0m)
Increase (Decrease) in Accounts Receivable $352.2m $362.0m $366.0m $225.0m $1.3b $204.0m $430.0m $43.0m $171.0m $426.0m ($426.0m)
Increase (Decrease) in Inventories ($97.8m) $81.0m $324.0m $458.0m $508.0m $1.1b $825.0m ($598.0m) $27.0m $74.0m ($74.0m)
Inventories $97.8m ($81.0m) ($324.0m) ($458.0m) ($508.0m) ($1.1b) ($825.0m) $598.0m ($27.0m) ($74.0m) ($74.0m)
Accounts payable $55.5m $274.0m $201.0m $266.0m $59.0m $479.0m $648.0m ($500.0m) $212.0m $421.0m $421.0m
Other — — $12.0m ($198.0m) $1.5b ($724.0m) ($401.0m) ($802.0m) ($186.0m) ($1.3b) —
Net Cash Provided by (Used in) Operating Activities $3.3b
$4.0b +22.94%
$4.5b +13.43%
$5.0b +9.47%
$8.3b +66.68%
$9.3b +12.34%
$9.2b -1.70%
$8.4b -8.17%
$8.7b +3.10%
$7.8b -9.80%
$9.0b +15.30%
Cash flows from investing activities:
Gain (Loss) on Disposition of Property Plant Equipment ($4.6m) $439.0m $526.0m $564.0m $658.0m $831.0m $986.0m $1.1b $1.2b $1.1b —
Payments to Acquire Property, Plant, and Equipment $444.4m $508.0m $758.0m $926.0m $1.5b $2.5b $2.2b $1.5b $1.4b $1.5b ($1.7b)
Gain (Loss) on Investments $12.5m $17.0m ($15.0m) $44.0m $10.0m $66.0m ($161.0m) ($46.0m) $21.0m $13.0m —
Payments to Acquire Investments — — — — — — — — $3.4b $383.0m ($107.0m)
Proceeds from sales and maturities of investments — — — — — — $116.0m $15.0m $1.8b $1.6b —
Purchases of investments — — — — — — ($52.0m) ($208.0m) ($3.4b) ($383.0m) —
Acquisitions, net of cash acquired ($5.2b) ($7.2b) ($536.0m) ($1.8b) ($38.0m) ($19.4b) ($39.0m) ($3.7b) ($3.1b) ($4.0b) ($12.9b)
Payments to Acquire Businesses, Net of Cash Acquired $5.2b $7.2b $536.0m $1.8b $38.0m $19.4b $39.0m $3.7b $3.1b $4.0b ($12.9b)
Other investing activities, net ($5.3m) ($24.0m) ($9.0m) $118.0m ($6.0m) ($34.0m) $99.0m ($160.0m) $8.0m $21.0m —
Payments for (Proceeds from) Other Investing Activities $5.3m $24.0m $9.0m ($118.0m) $6.0m $34.0m ($99.0m) $160.0m ($8.0m) ($21.0m) —
Net Cash Provided by (Used in) Investing Activities ($5.5b) ($7.7b) ($1.3b) ($1.5b) ($1.5b) ($21.9b) ($2.2b) ($5.1b) ($5.8b) ($4.0b) ($12.0b)
Cash flows from financing activities:
Gain (Loss) on Extinguishment of Debt ($9.0m) ($4.0m) — ($184.0m) $0 ($767.0m) ($26.0m) $0 — — —
Net proceeds from issuance of debt $7.6b $6.5b $690.0m $5.6b $3.5b $18.1b $3.2b $5.9b $1.2b $7.8b —
Proceeds from Issuance of Long-term Debt $7.6b $6.5b $690.0m $5.6b $3.5b $18.1b $3.2b $5.9b $1.2b $7.8b $10.2b
Proceeds from issuance of commercial paper $9.2b $8.4b $5.1b $2.8b $383.0m $2.5b $1.5b $1.6b $0 $1.1b —
Repayment of debt ($4.3b) ($3.3b) ($2.1b) ($6.4b) ($713.0m) ($11.7b) ($375.0m) ($5.8b) ($3.6b) ($2.4b) ($2.2b)
Repayments of Long-term Debt $4.3b $3.3b $2.1b $6.4b $713.0m $11.7b $375.0m $5.8b $3.6b $2.4b ($2.2b)
Repayments of commercial paper ($8.3b) ($8.5b) ($5.3b) ($3.5b) ($387.0m) $0 ($3.7b) ($1.9b) $0 ($1.1b) —
Payments for Repurchase of Common Stock $1.2b $750.0m $500.0m $1.5b $1.5b $2.0b $3.0b $3.0b $4.0b $3.0b —
Payments of Ordinary Dividends, Common Stock $238.4m $237.0m $266.0m $297.0m $337.0m $395.0m $455.0m $523.0m $583.0m $636.0m ($662.0m)
Proceeds from Issuance of Common Stock $0 $1.7b $0 $0 — — — — — — —
Purchases of company common stock ($1.2b) ($750.0m) ($500.0m) ($1.5b) ($1.5b) ($2.0b) ($3.0b) ($3.0b) ($4.0b) ($3.0b) —
Dividends Payable $60.1m $61.0m $69.0m $77.0m $89.0m $104.0m $119.0m $137.0m $150.0m $164.0m —
Dividends paid ($238) ($237) ($266) ($297) ($337) ($395) ($455) ($523) ($583) ($636) ($662.0m)
Other financing activities, net ($13.7m) ($3.0m) ($51.0m) ($69.0m) ($147.0m) ($91.0m) ($9.0m) $56.0m $195.0m $90.0m —
Proceeds from (Payments for) Other Financing Activities ($13.7m) ($3.0m) ($51.0m) ($69.0m) ($147.0m) ($91.0m) ($9.0m) $56.0m $195.0m $90.0m —
Net Cash Provided by (Used in) Financing Activities $2.9b
$3.9b +34.73%
($2.2b) -158.04%
($3.1b) -39.38%
$959.0m +130.76%
$6.6b +586.24%
($2.8b) -142.70%
($3.6b) -28.90%
($6.8b) -87.52%
$1.8b +126.52%
$2.4b +34.15%
Increase/(decrease) in cash, cash equivalents and restricted cash $345.0m $550.0m $756.0m $305.0m $7.9b ($5.8b) $4.0b ($440.0m) ($4.1b) $5.8b —
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect ($150.7m) $550.0m $756.0m $305.0m $7.9b ($5.8b) $4.0b ($440.0m) ($4.1b) $5.8b $4.0b
Cash, cash equivalents and restricted cash at beginning of year $811.0m $1.4b $2.1b $2.4b $10.3b $4.5b $8.5b $8.1b $4.0b $9.9b —
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $345.0m $1.4b $2.1b $2.4b $10.3b $4.5b $8.5b $8.1b $4.0b $9.9b $4.0b
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($150.7m) $420.0m ($297.0m) ($63.0m) $176.0m $194.0m ($139.0m) ($82.0m) ($91.0m) $267.0m $95.0m
Exchange rate effect on cash ($150.7m) $420.0m ($297.0m) ($63.0m) $176.0m $194.0m ($139.0m) ($82.0m) ($91.0m) $267.0m —
Additional Supplementary Disclosures
Additional Supplementary Disclosures
Additional Financial Items
Contract assets/liabilities — — — — — $221.0m ($354.0m) $252.0m ($162.0m) ($375.0m) —
Contributions to retirement plans ($42.7m) ($200.0m) ($93.0m) ($50.0m) ($96.0m) ($34.0m) ($41.0m) ($42.0m) ($45.0m) ($42.0m) —
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal $0 — — $482.0m $0 $0 — — — — —
Foreign Currency Transaction Gain (Loss), before Tax $19.0m ($31.0m) $19.0m $52.0m $24.0m $25.0m $62.0m ($67.0m) $0 ($130.0m) —
Gain (Loss) Related to Litigation Settlement ($24.0m) $27.0m — — — — — — — — —
Goodwill $21.3b $25.3b $25.3b $25.7b $26.0b $41.9b $41.2b $44.0b $45.9b $49.4b —
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent $2.0b $2.2b $2.9b $3.7b — — — — — — —
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest ($3.5m) ($3.0m) $0 $0 — — — — — — —
Income Tax Expense (Benefit) ($1.4m) $201.0m $324.0m $374.0m $850.0m $1.1b $703.0m $284.0m $657.0m $547.0m —
Income Taxes Paid, Net — — — — — — — — — $1.8b —
Interest Expense Nonoperating — — — — — — — — $1.4b $1.4b —
Interest Paid, Excluding Capitalized Interest, Operating Activities — $533.0m $687.0m $790.0m $471.0m $555.0m $667.0m $1.4b $1.6b $1.6b —
Investment Income, Interest $48.4m $81.0m $137.0m $224.0m $65.0m $43.0m $272.0m $879.0m $1.1b $993.0m —
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax ($6.1m) ($7.0m) — — — — — — — — —
Other net non-cash expenses $66.8m $103.0m $106.0m $84.0m $340.0m $190.0m $524.0m $604.0m $508.0m $455.0m —
Payments of Financing Costs — — — — $51.0m $36.0m — — — — —
Proceeds from Stock Options Exercised $87.3m $128.0m $136.0m $153.0m $196.0m $156.0m — — — — —
Proceeds from cross-currency interest rate swap interest settlements — — — — — $8.0m $15.0m $70.0m $252.0m $268.0m —
Stock or Unit Option Plan Expense $41.3m $53.0m $57.0m — — — — — — — —
Supplemental disclosure of cash flow information:

Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.