Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.2
Condensed Consolidated Statements of Cash Flows
$ in Thousands
6 Months Ended
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Cash flows from operating activities:    
Net income (loss) $ (2,045) $ 651,918
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 (371) 984
Depreciation and amortization of intangible assets 7,869 7,699
Amortization of premium (discount) on investments, net 1,198 (6,023)
Amortization of debt discount and issuance fees 12,442 14,999
Amortization of commercial license and other economic rights 2,733 5,452
Gain on debt extinguishment (659) 0
Share-based compensation 13,012 11,918
Deferred income taxes (8,890) 55,661
Loss (gain) from short-term investments 7,281 (4,488)
Other (1,499) (4,429)
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable, net (11,466) 35,591
Inventory 6,977 (4,573)
Accounts payable and accrued liabilities 2,909 (3,764)
Income tax receivable 8,673 47,455
Other economic rights 0 (12,000)
Other 3,140 597
Net cash provided by (used in ) operating activities 41,304 (15,800)
Cash flows from investing activities:    
Proceeds from sale of Promacta license 0 812,797
Purchase of short-term investments (336,726) (1,281,274)
Proceeds from sale of short-term investments 179,431 43,724
Proceeds from maturity of short-term investments 452,405 791,006
Cash paid for acquisition (15,140) 0
Other 1,809 (5,673)
Net cash provided by investing activities 281,779 360,580
Cash flows from financing activities:    
Repurchase of 2023 Notes (203,210) 0
Net proceeds from stock option exercises and ESPP 1,550 2,643
Taxes paid related to net share settlement of equity awards (1,429) (2,893)
Share repurchase (73,287) (189,917)
Payments to CVR Holders (1,800) 0
Other (1,134) 0
Net cash used in financing activities (279,310) (190,167)
Effect of exchange rate changes on cash (160) 7
Net increase in cash, cash equivalents and restricted cash 43,613 154,620
Cash, cash equivalents and restricted cash at beginning of period 72,273 119,780
Cash, cash equivalents and restricted cash at end of period 115,886 274,400
Supplemental disclosure of cash flow information:    
Interest paid 2,531 2,915
Taxes paid 0 69,703
Restricted cash in other current assets 730 1,353
Supplemental schedule of non-cash activity:    
Accrued fixed asset purchases 292 54
Accrued inventory purchases 3,553 0
Unrealized gain (loss) on AFS investments $ (38) $ 938