Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ (8,746) $ 636,667
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Gain from sale of Promacta license 0 (812,797)
Change in estimated fair value of contingent liabilities (397) 762
Depreciation and amortization of intangible assets 12,645 11,648
Amortization of premium (discount) on investments, net 1,507 (7,477)
Amortization of debt discount and issuance fees 17,743 22,562
Amortization of commercial license and other economic rights 2,505 10,047
Gain on debt extinguishment (659) 0
Share-based compensation 20,752 18,215
Deferred income taxes (19,311) 57,766
Loss from short-term investments 17,143 8,524
Other (1,525) (4,253)
Changes in operating assets and liabilities, net of acquisition:    
Accounts receivable, net (5,080) 33,892
Inventory (4,914) (1,500)
Accounts payable and accrued liabilities 9,894 (3,302)
Income tax receivable and payable 12,026 16,571
Other economic rights 0 (12,000)
Other 466 2,678
Net cash provided by (used in ) operating activities 54,049 (21,997)
Cash flows from investing activities:    
Proceeds from sale of Promacta license 0 812,797
Purchase of short-term investments (337,016) (1,682,586)
Proceeds from sale of short-term investments 389,296 144,182
Proceeds from maturity of short-term investments 589,155 1,274,851
Cash paid for acquisition, net of cash acquired (26,857) (11,840)
Cash paid for equity method investment (500) (1,000)
Other (228) (6,307)
Net cash provided by investing activities 613,850 530,097
Cash flows from financing activities:    
Proceeds from convertible bond hedge settlement 0 12,401
Payments to convertible bond holders for bond conversion 0 (12,401)
Net proceeds from stock option exercises and ESPP 2,459 2,856
Taxes paid related to net share settlement of equity awards (1,429) (2,906)
Share repurchase (73,287) (371,106)
Payments to CVR Holders (2,325) (3,000)
Other (5,224) 0
Net cash used in financing activities (283,016) (401,479)
Effect of exchange rate changes on cash (50) (88)
Net increase in cash, cash equivalents and restricted cash 384,833 106,533
Cash, cash equivalents and restricted cash at beginning of period 72,273 119,780
Cash, cash equivalents and restricted cash at end of period 457,106 226,313
Supplemental disclosure of cash flow information:    
Interest paid 2,531 3,015
Taxes paid 2,130 93,817
Restricted cash in other current assets 190 1,011
Supplemental schedule of non-cash activity:    
Accrued fixed asset purchases 381 0
Accrued inventory purchases 1,390 0
Accrued financing lease payment 2,500 0
Unrealized gain (loss) on AFS investments (109) 699
2023 Convertible Senior Notes    
Cash flows from financing activities:    
Repurchase/ Repayment of Notes (203,210) 0
2019 Convertible Senior Notes    
Cash flows from financing activities:    
Repurchase/ Repayment of Notes $ 0 $ (27,323)