XML 17 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net income $ 16,845 $ 4,435
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,496 3,483
Stock-based compensation 2,507 1,864
Amortization of premium (discount) on short term investment 17 (3)
Interest added to the principal balance of the non-recourse term notes due 2029 0 683
Amortization of debt issuance costs 687 699
Amortization of lease guarantee (81) 0
Changes in operating assets and liabilities:    
Receivables from collaborative arrangements 3,120 (1,311)
Prepaid expenses and other current assets (114) (161)
Accounts payable 2,176 (242)
Accrued personnel-related expenses and other accrued liabilities 752 (625)
Accrued interest payable (1,428) (1,349)
Other long-term liabilities 5 (2)
Deferred revenue (221) (221)
Net cash provided by operating activities 27,761 7,250
Cash flows from investing activities    
Maturities of marketable securities 26,387 27,671
Purchases of marketable securities (3,992) (15,978)
Net cash provided by investing activities 22,395 11,693
Cash flows from financing activities    
Repurchase of common stock 0 (25,357)
Payment of principal on non-recourse notes due 2029 (7,752) 0
Payments of cash dividends to stockholders (67) (719)
Repurchase of shares to satisfy tax withholding (553) (442)
Proceeds from issuances of common stock, net 8 173
Net cash used in financing activities (8,364) (26,345)
Net increase (decrease) in cash and cash equivalents 41,792 (7,402)
Cash and cash equivalents at beginning of period 118,016 [1] 159,180
Cash and cash equivalents at end of period 159,808 151,778
Supplemental disclosure of cash flow information    
Cash paid for interest $ 13,522 $ 13,124
[1] Condensed consolidated balance sheet as of December 31, 2016 has been derived from audited consolidated financial statements.