Financial highlights

FY 2023

	$ in millions	% Portfolio Receipts
Royalty receipts	2,449 +8% YoY
Milestones & other contractual receipts	599 +15% YoY
Portfolio Receipts	3,049 +9% YoY
Payments for operating and professional costs	-243	8.0%
Adjusted EBITDA (non-GAAP)	2,805	92.0%
Interest received/(paid), net	-98
Portfolio Cash Flow (non-GAAP)	2,708	88.8%