XML 17 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (50,626) $ (8,123)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 59,563 41,231
Impairment of intangible assets 0 15,963
Provision for bad debt expense 2,681 0
Amortization of premium/discount on purchased securities 168 351
Non-cash equity-based compensation expense 11,669 11,342
Non-cash IPR&D expense 945 0
Loss on debt extinguishment 9,516 0
Amortization of debt discount and debt issuance costs 6,679 5,940
Gains on investments, net (249) 0
Change in fair value of contingent consideration 2,786 1,399
Deferred income taxes (29,677) (1,371)
Changes in operating assets and liabilities:    
Accounts receivable, net 233 19,592
Inventories (1,145) 281
Receivable from collaboration 0 428
Prepaid and other current assets (1,178) (273)
Accounts payable and accrued expenses 40,716 4,700
Deferred revenues 7,380 17,204
Other assets and liabilities (1,029) 1,970
Net cash provided by operating activities 58,432 110,634
Cash flows from investing activities:    
Proceeds from sales or maturities of investments 251,017 42,500
Purchase of investments (85,249) (98,795)
Acquisition of Intrarosa intangible asset (46,500) 0
Change in restricted cash (60) 0
Capital expenditures (2,672) (2,587)
Net cash provided by (used in) investing activities 116,536 (58,882)
Cash flows from financing activities:    
Long-term debt principal payments (328,125) (8,752)
Proceeds from 2022 Convertible Notes 320,000 0
Payment to extinguish 2019 Convertible Notes (170,371) 0
Proceeds to settle warrants 323 0
Payment of convertible debt issuance costs (9,553) 0
Payments of contingent consideration (119) (149)
Payments for repurchases of common stock 0 (20,000)
Proceeds from the issuance and exercise of common stock options 1,130 1,569
Payments of employee tax withholding related to equity-based compensation (2,439) (2,015)
Net cash used in financing activities (189,154) (29,347)
Net (decrease) increase in cash and cash equivalents (14,186) 22,405
Cash and cash equivalents at beginning of the period 274,305 228,705
Cash and cash equivalents at end of the period 260,119 251,110
Supplemental data for cash flow information:    
Cash paid for taxes 3,191 3,903
Cash paid for interest 29,173 32,017
Non-cash investing activities:    
Fair value of common stock issued in connection with the acquisition of the Intrarosa intangible asset 12,555 0
Contingent consideration accrued for the acquisition of the Intrarosa intangible asset $ 18,600 $ 0