Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.1
Condensed Consolidated Statements of Cash Flows
$ in Thousands
3 Months Ended
Mar. 31, 2020
USD ($)
Mar. 31, 2019
USD ($)
Cash flows from operating activities:    
Net income (loss) $ (24,131) $ 666,337
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Gain from sale of Promacta license 0 (812,797)
Change in estimated fair value of contingent liabilities (372) 1,403
Depreciation and amortization of intangible assets 3,422 3,841
Amortization of premium (discount) on investments, net 830 (1,818)
Amortization of debt discount and issuance fees 7,203 7,446
Amortization of commercial license and other economic rights 2,958 2,437
Gain on debt extinguishment (659) 0
Share-based compensation 5,653 5,347
Deferred income taxes (10,419) 62,263
Loss (gain) from investment in Viking 25,456 (17,293)
Other 5,668 (6,160)
Changes in operating assets and liabilities:    
Accounts receivable, net (8,398) 29,235
Inventory 1,251 (2,823)
Accounts payable and accrued liabilities 2,114 (5,873)
Income tax receivable 4,081 113,997
Other 2,265 (284)
Net cash provided by operating activities 16,922 45,258
Cash flows from investing activities:    
Proceeds from sale of Promacta license 0 812,797
Purchase of short-term investments (167,374) (1,047,767)
Proceeds from sale of short-term investments 179,431 341
Proceeds from maturity of short-term investments 297,005 332,647
Other (526) (3,241)
Net cash provided by investing activities 308,536 94,777
Cash flows from financing activities:    
Repurchase of 2023 Notes (203,210) 0
Net proceeds from stock option exercises and ESPP 421 1,904
Taxes paid related to net share settlement of equity awards (1,429) (2,895)
Share repurchase (73,287) (151,585)
Payments to CVR Holders (1,800) 0
Net cash used in financing activities (279,305) (152,576)
Effect of exchange rate changes on cash (169) 130
Net increase (decrease) in cash, cash equivalents and restricted cash 45,984 (12,411)
Cash, cash equivalents and restricted cash at beginning of period 72,273 119,780
Cash, cash equivalents and restricted cash at end of period 118,257 107,369
Supplemental disclosure of cash flow information:    
Interest paid 597 102
Taxes paid 0 60
Restricted cash in other current assets 730 2,256
Supplemental schedule of non-cash activity:    
Accrued fixed asset purchases 63 301
Accrued inventory purchases 1,445 1,959
Unrealized gain (loss) on AFS investments $ (3,541) $ 294