Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
---|---|---|
Mar. 31, 2015
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Mar. 31, 2014
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Cash flows from operating activities | ||
Net income | $ 25,804us-gaap_ProfitLoss | $ 3,249us-gaap_ProfitLoss |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 3,549us-gaap_DepreciationDepletionAndAmortization | 1,805us-gaap_DepreciationDepletionAndAmortization |
Loss on disposal of property, plant and equipment | 92us-gaap_GainLossOnSaleOfPropertyPlantEquipment | 7us-gaap_GainLossOnSaleOfPropertyPlantEquipment |
Unrealized appreciation on equity securities | (115,454)us-gaap_FairValueOptionChangesInFairValueGainLoss1 | (21,922)us-gaap_FairValueOptionChangesInFairValueGainLoss1 |
Amortization of discount/premium on investments | 124us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments | 414us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments |
Equity in net loss of affiliates | 1,956us-gaap_IncomeLossFromEquityMethodInvestments | 536us-gaap_IncomeLossFromEquityMethodInvestments |
Stock-based compensation expense | 10,259us-gaap_ShareBasedCompensation | 3,774us-gaap_ShareBasedCompensation |
Contribution of services by shareholder | 0xon_ContributionOfServicesByShareholder | 470xon_ContributionOfServicesByShareholder |
Shares issued to nonemployee members of the Board of Directors | 480xon_StockIssuedDuringPeriodToNonemployeeDirectorExpense | 426xon_StockIssuedDuringPeriodToNonemployeeDirectorExpense |
Shares issued as consideration for license agreement | 59,579xon_SharesIssuedAsConsiderationForLicenseAgreementValue | 0xon_SharesIssuedAsConsiderationForLicenseAgreementValue |
Provision for bad debts | 393us-gaap_ProvisionForDoubtfulAccounts | 0us-gaap_ProvisionForDoubtfulAccounts |
Deferred income taxes | 795us-gaap_DeferredIncomeTaxExpenseBenefit | 0us-gaap_DeferredIncomeTaxExpenseBenefit |
Other noncash items | 264us-gaap_OtherNoncashIncomeExpense | 35us-gaap_OtherNoncashIncomeExpense |
Receivables: | ||
Trade | (815)us-gaap_IncreaseDecreaseInAccountsReceivable | 92us-gaap_IncreaseDecreaseInAccountsReceivable |
Related parties | 2,807us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent | (759)us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent |
Note | (16)us-gaap_IncreaseDecreaseInNotesReceivableCurrent | 0us-gaap_IncreaseDecreaseInNotesReceivableCurrent |
Other | 67us-gaap_IncreaseDecreaseInOtherReceivables | (104)us-gaap_IncreaseDecreaseInOtherReceivables |
Inventory | (382)us-gaap_IncreaseDecreaseInInventories | 0us-gaap_IncreaseDecreaseInInventories |
Prepaid expenses and other | (292)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | 2us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
Other assets | (1,216)us-gaap_IncreaseDecreaseInOtherOperatingAssets | 37us-gaap_IncreaseDecreaseInOtherOperatingAssets |
Accounts payable | 672us-gaap_IncreaseDecreaseInAccountsPayable | 516us-gaap_IncreaseDecreaseInAccountsPayable |
Accrued compensation and benefits | (297)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities | (2,480)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities |
Other accrued liabilities | 1,210us-gaap_IncreaseDecreaseInOtherAccruedLiabilities | 234us-gaap_IncreaseDecreaseInOtherAccruedLiabilities |
Deferred revenue | (2,621)us-gaap_IncreaseDecreaseInDeferredRevenue | 23,184us-gaap_IncreaseDecreaseInDeferredRevenue |
Related party payables | (156)us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent | (47)us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent |
Other long term liabilities | 157us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities | 10us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities |
Net cash provided by (used in) operating activities | (13,041)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | 9,479us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
Cash flows from investing activities | ||
Maturities of investments | 24,000us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities | 35,249us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities |
Purchases of equity securities and warrants | (14,900)us-gaap_PaymentsToAcquireOtherInvestments | 0us-gaap_PaymentsToAcquireOtherInvestments |
Acquisitions of businesses, net of cash received | (29,559)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired | (4,912)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired |
Acquisition of noncontrolling interest | (1,566)us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries | 0us-gaap_PaymentsToAcquireAdditionalInterestInSubsidiaries |
Investments in affiliates | (1,491)us-gaap_PaymentsToAcquireInterestInSubsidiariesAndAffiliates | (1,500)us-gaap_PaymentsToAcquireInterestInSubsidiariesAndAffiliates |
Purchases of property, plant and equipment | (2,711)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (2,982)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
Proceeds from sale of property, plant and equipment | 194us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment | 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment |
Net cash provided by (used in) investing activities | (26,033)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | 25,855us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
Cash flows from financing activities | ||
Proceeds from issuance of shares in a private placement | 0us-gaap_ProceedsFromIssuanceOfPrivatePlacement | 25,000us-gaap_ProceedsFromIssuanceOfPrivatePlacement |
Proceeds from issuance of shares in a public offering, net of issuance costs | 110,041xon_ProceedsfromIssuanceofCommonStockNetofIssuanceCosts | 0xon_ProceedsfromIssuanceofCommonStockNetofIssuanceCosts |
Advances from lines of credit | 5,559us-gaap_ProceedsFromLinesOfCredit | 0us-gaap_ProceedsFromLinesOfCredit |
Repayments of advances from lines of credit | (7,211)us-gaap_RepaymentsOfLinesOfCredit | 0us-gaap_RepaymentsOfLinesOfCredit |
Payments of capital lease obligations | (6)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations | (8)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations |
Proceeds from long term debt | 44us-gaap_ProceedsFromIssuanceOfLongTermDebt | 148us-gaap_ProceedsFromIssuanceOfLongTermDebt |
Payments of long term debt | (335)us-gaap_RepaymentsOfLongTermDebt | 0us-gaap_RepaymentsOfLongTermDebt |
Proceeds from stock option exercises | 2,567us-gaap_ProceedsFromStockOptionsExercised | 330us-gaap_ProceedsFromStockOptionsExercised |
Payment of stock issuance costs | 0us-gaap_PaymentsOfStockIssuanceCosts | (256)us-gaap_PaymentsOfStockIssuanceCosts |
Net cash provided by financing activities | 110,659us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | 25,214us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
Effect of exchange rate changes on cash and cash equivalents | (36)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents | (5)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents |
Net increase in cash and cash equivalents | 71,549us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 60,543us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
Cash and cash equivalents | ||
Beginning of period | 27,466us-gaap_CashAndCashEquivalentsAtCarryingValue | 49,509us-gaap_CashAndCashEquivalentsAtCarryingValue |
End of period | 99,015us-gaap_CashAndCashEquivalentsAtCarryingValue | 110,052us-gaap_CashAndCashEquivalentsAtCarryingValue |
Supplemental disclosure of cash flow information | ||
Cash paid during the period for interest | 84us-gaap_InterestPaid | 13us-gaap_InterestPaid |
Significant noncash financing and investing activities | ||
Stock received as consideration for collaboration agreements | 0xon_StockReceivedAsConsiderationForCollaborationAgreements | 5,225xon_StockReceivedAsConsiderationForCollaborationAgreements |
Stock issued in acquisitions, net | 39,735us-gaap_StockIssuedDuringPeriodValueAcquisitions | 19,368us-gaap_StockIssuedDuringPeriodValueAcquisitions |
Stock issued to acquire noncontrolling interest | $ 9,412xon_StockIssuedDuringPeriodValueAcquisitionOfNoncontrollingInterests | $ 0xon_StockIssuedDuringPeriodValueAcquisitionOfNoncontrollingInterests |
X | ||||||||||
- Definition
The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
For each line item in the statement of financial position, the amounts of gains and losses from fair value changes included in earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate increase (decrease) during the reporting period in the amount due from the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period of amounts due within one year (or one business cycle) from note holders for outstanding loans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows. No definition available.
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other amounts due to the reporting entity, which are not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the purchase of noncontrolling interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with the acquisition of or advances to an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, and joint venture or equity method investment) or the acquisition of an additional interest in a subsidiary (controlled entity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow associated with other investments held by the entity for investment purposes not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the amount received from entity's raising of capital via private rather than public placement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with maturities (principal being due), prepayments and calls (requests of early payments) on securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for the obligation for a lease meeting the criteria for capitalization (with maturities exceeding one year or beyond the operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Value of stock issued pursuant to acquisitions during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
Compensation expense recognized for value of services contributed by a shareholder No definition available.
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X | ||||||||||
- Definition
The cash inflow from the additional capital contribution to the entity, net of the cash outflows for costs incurred directly with the issuance of an equity security. No definition available.
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X | ||||||||||
- Definition
Fair value of shares issued as consideration for license agreement. No definition available.
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X | ||||||||||
- Definition
Amount of expense that relates to stock issued during the period as compensation paid to nonemployee members of the Board of Directors. No definition available.
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X | ||||||||||
- Definition
Value of stock issued to acquire noncontrolling interests during the period. No definition available.
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X | ||||||||||
- Definition
Fair value of stock received from collaborative partners as consideration for collaboration agreements. No definition available.
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