XML 19 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income (loss) $ (8,123) $ 46,162
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 41,231 34,375
Impairment of intangible assets 15,963  
Amortization of premium/discount on purchased securities 351 658
Write-down of inventory to net realizable value   278
Non-cash equity-based compensation expense 11,342 6,684
Amortization of debt discount and debt issuance costs 5,940 5,501
Change in fair value of contingent consideration 1,399 1,639
Deferred income taxes (1,371) 23,643
Changes in operating assets and liabilities:    
Accounts receivable, net 19,592 (17,849)
Inventories 281 (1,027)
Receivable from collaboration 428 (1,097)
Prepaid and other current assets (273) 3,331
Accounts payable and accrued expenses 4,700 10,231
Deferred revenues 17,204 (44,376)
Other assets and liabilities 1,970 3,535
Net cash provided by operating activities 110,634 71,688
Cash flows from investing activities:    
Acquisition of Lumara Health, net of acquired cash   562
Proceeds from sales or maturities of investments 42,500 6,464
Purchase of investments (98,795) (291,085)
Capital expenditures, net of proceeds from sale of assets (2,587) (677)
Net cash used in investing activities (58,882) (284,736)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net of underwriting discount and other expenses   188,864
Long-term debt principal payments (8,752) (16,686)
Payment of contingent consideration (149) (190)
Payments for repurchases of common stock (20,000)  
Proceeds from the exercise of stock options 809 11,648
Proceeds from the issuance of common stock under ESPP 760  
Payments of employee tax withholding related to equity-based compensation (2,015)  
Net cash (used in) provided by financing activities (29,347) 183,636
Net increase (decrease) in cash and cash equivalents 22,405 (29,412)
Cash and cash equivalents at beginning of the period 228,705 119,296
Cash and cash equivalents at end of the period $ 251,110 $ 89,884