Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 666,337 $ 45,279
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of Promacta license (812,797) 0
Non-cash change in estimated fair value of contingent liabilities 1,403 960
Depreciation and amortization 5,086 3,002
Amortization of premium (discount) on investments, net (1,818) 0
Amortization of debt discount and issuance fees 7,446 3,018
Share-based compensation 5,347 4,555
Deferred income taxes 62,263 9,862
Gain from investment in Viking (17,293) (21,931)
Other (5,130) 0
Royalties recorded in retained earnings upon adoption of ASC 606 0 32,707
Changes in operating assets and liabilities:    
Accounts receivable, net 29,235 (11,512)
Inventory (2,823) (4,978)
Accounts payable and accrued liabilities (1,876) 321
Income tax payable 113,997 0
Other (4,119) (522)
Net cash provided by operating activities 45,258 60,761
Cash flows from investing activities:    
Proceeds from sale of Promacta license 812,797 0
Purchase of short-term investments (1,047,767) (98,957)
Proceeds from sale of short-term investments 341 12,291
Proceeds from maturity of short-term investments 332,647 54,325
Other (3,241) (1,240)
Net cash provided by (used in) investing activities 94,777 (33,581)
Cash flows from financing activities:    
Net proceeds from stock option exercises and ESPP 1,904 8,916
Taxes paid related to net share settlement of equity awards (2,895) (3,797)
Share repurchase (151,585) (1,895)
Net cash provided by (used in) financing activities (152,576) 3,224
Effect of exchange rate changes on cash 130 0
Net (decrease) increase in cash, cash equivalents and restricted cash (12,411) 30,404
Cash, cash equivalents and restricted cash at beginning of period 119,780 20,620
Cash, cash equivalents and restricted cash at end of period 107,369 51,024
Supplemental disclosure of cash flow information:    
Interest paid 102 919
Taxes paid 60 171
Restricted cash in other current assets 2,256 0
Supplemental schedule of non-cash activity:    
Accrued fixed asset purchases 301 0
Accrued inventory purchases 1,959 1,180
Unrealized gain on AFS investments $ 294 $ 0