AMGN · 10-Q · 2026Q2 · Full report

Operating Cash Flow Trends

AMGEN INC · 2026-08-05 · Importance 63 · Surprise 64 · From source text

Net cash provided by operating activities increased to $6.191 billion in the six months ended June 30, 2026 from $3.671 billion in the prior-year period. The $2.520 billion increase primarily reflected the absence of the prior-year $1.8 billion repatriation-tax payment and higher current-year net income after noncash adjustments. Financing cash usage was only $46 million in the first six months of 2026 because $4.0 billion of debt proceeds largely offset $2.7 billion of dividends and debt repayments and extinguishments. Amgen said existing cash, operating cash flow and financing access are adequate for working capital, capital expenditures, debt service, dividends, repurchases and strategic acquisitions or licensing activities.

Key facts

• Net cash provided by operating activities was $6,191 million for the six months ended June 30, 2026 and $3,671 million for the six months ended June 30, 2025. source
• Net cash used in investing activities was $(1,285) million for the six months ended June 30, 2026 and $(836) million for the six months ended June 30, 2025. source
• Cash provided by operating activities during the six months ended June 30, 2026 increased compared to the prior year primarily due to the final $1.8 billion repatriation tax payment in the second quarter of 2025 and higher net income in the current-year period after adjustments for noncash items. source
• Net cash provided by operating activities for six months ended June 30, 2026: $6,191 million source
• Increase in cash and cash equivalents during six months ended June 30, 2026: $4,860 million source
• Net cash used in financing activities was $(46) million for the six months ended June 30, 2026 and $(6,780) million for the six months ended June 30, 2025. source

Impact estimates