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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 481,062 $ 248,031
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 51,999 38,551
Non-cash compensation expense 300,657 208,732
Losses on extinguishment of debt 16,927 10,787
Other non-cash charges and expenses, net 33,197 28,473
Deferred Taxes (65,975) (34,161)
Changes in assets and liabilites    
(Increase) decrease in Sanofi, Bayer HealthCare, and trade accounts receivable (462,943) 53,642
Increase in Inventories (81,459) (50,917)
Increase in prepaid expenses and other assets (13,223) (28,850)
Increase in deferred revenue 624,063 3,466
Increase in accounts payable, accrued expenses and other liabilities 164,652 76,506
Total adjustments 567,895 306,229
Net cash provided by operating activities 1,048,957 554,260
Cash flows from investing activities:    
Purchases of marketable securities (550,142) (478,436)
Sales or maturities of marketable securities 265,995 216,478
Capital expenditures (500,154) (215,464)
Net cash used in investing activities (784,301) (477,422)
Cash flows from financing activities:    
Proceeds (payments) in connection with facility and capital lease obligations 26,405 (810)
Repayments of convertible senior notes (146,007) (61,125)
Payments in connection with deduction of outstanding warrants (523,487) (143,041)
Proceeds from issuance of Common Stock 150,423 80,804
Payments in connection with Common Stock tendered for employee tax obligations (71,673) (175,866)
Excess tax benefit from stock-based compensation 305,551 334,146
Net cash (used in) provided by financing activities (258,788) 34,108
Net increase in cash and cash equivalents 5,868 110,946
Cash and cash equivalents at beginning of period 648,719 535,608
Cash and cash equivalents at end of period $ 654,587 $ 646,554