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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net income $ 406,328 $ 134,272 $ 59,536
Adjustments to reconcile net income to net cash provided by operating activities:      
Deferred income taxes (196,054) 0 0
Depreciation and amortization 13,872 13,982 13,954
Stock-based compensation 3,233 9,833 8,297
Amortization of debt discount and issuance costs 7,748 5,116 2,847
Loss (gain) on extinguishment of debt 5,745 7,256 (2,342)
Amortization of discount on short-term investments (256) (105) (9)
Amortization of lease guarantee (325) (325) (190)
Interest added to the principal balance of non-recourse notes due 2029 0 0 855
Changes in operating assets and liabilities:      
Receivables from collaborative arrangements (12,746) (23,693) (20,619)
Prepaid expenses and other current assets (95) 12 48
Other assets 0 0 (19)
Accounts payable (590) 473 (690)
Accrued personnel-related expenses and other accrued liabilities (1,677) (81) 276
Accrued interest payable (1,656) (1,908) (83)
Other long-term liabilities 4 16 8
Deferred revenue 0 (3,099) (885)
Net cash provided by operating activities 223,531 141,749 60,984
Cash flows from investing activities      
Maturities of marketable securities 75,375 44,387 88,422
Purchases of marketable securities (71,856) (67,623) (95,719)
Sales of marketable securities 0 0 2,995
Purchases of property and equipment 0 0 (278)
Net cash provided by (used in) investing activities 3,519 (23,236) (4,580)
Cash flows from financing activities      
Repurchase of shares to satisfy tax withholding (3,073) (2,128) (1,079)
Payments of principal on senior secured term loans (230,000) (6,250) 0
Payments of cash dividends to stockholders (80) (281) (960)
Proceeds from issuances of common stock, net 1,139 435 385
Proceeds from issuance of convertible senior notes due 2025 0 192,500 0
Proceeds from senior secured term loans 0 250,000 0
Payments of debt issuance costs and debt discount 0 (12,803) 0
Payments of principal on non-recourse notes due 2029 0 (487,189) (6,828)
Repurchase of common stock 0 (97,500) (78,094)
Repurchase of convertible subordinated notes due 2023 0 0 (11,570)
Proceeds from capped-call options 0 0 578
Contributions from (distributions to) noncontrolling interest (5,955) 23 0
Net cash used in financing activities (237,969) (163,193) (97,568)
Net decrease in cash and cash equivalents (10,919) (44,680) (41,164)
Cash and cash equivalents at beginning of period 73,336 118,016 159,180
Cash and cash equivalents at end of period 62,417 73,336 118,016
Supplemental disclosure of cash flow information      
Cash paid for interest $ 17,861 $ 40,353 $ 48,797