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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 248,931 $ 181,385
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 38,115 22,977
Non-cash compensation expense 133,789 142,250
Other non-cash charges and expenses, net 3,956 3,957
Deferred taxes (40,988) (79,785)
Changes in assets and liabilites    
Increase in Sanofi, Bayer, and trade accounts receivable (137,928) (397,428)
Increase in Inventories (69,744) (62,263)
(Increase) decrease in prepaid expenses and other assets (20,325) 39,260
Increase in deferred revenue 12,400 91,205
Increase in accounts payable, accrued expenses and other liabilities 187,695 103,431
Total adjustments 106,970 (136,396)
Net cash provided by operating activities 355,901 44,989
Cash flows from investing activities:    
Purchases of marketable securities (208,694) 0
Sales or maturities of marketable securities 119,012 60,409
Capital expenditures (50,461) (104,094)
Net cash used in investing activities (140,143) (43,685)
Cash flows from financing activities:    
Proceeds in connection with capital and facility lease obligations 57,000 0
Payments in connection with capital and facility lease obligations (12,861) (598)
Repayments of convertible senior notes 0 (1,739)
Payments in connection with deduction of outstanding warrants 0 (242,117)
Proceeds from issuance of Common Stock 16,673 39,304
Payments in connection with Common Stock tendered for employee tax obligations 0 (1,042)
Net cash provided by (used in) financing activities 60,812 (206,192)
Net increase (decrease) in cash and cash equivalents 276,570 (204,888)
Cash and cash equivalents at beginning of period 535,203 809,102
Cash and cash equivalents at end of period $ 811,773 $ 604,214