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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 477,980 $ 248,931
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 36,358 38,115
Non-cash compensation expense 82,422 133,789
Other non-cash charges and expenses, net (4,193) 3,956
Deferred taxes (6,366) (40,988)
Changes in assets and liabilites    
Decrease (increase) in Sanofi, Bayer, and trade accounts receivable 30,408 (137,928)
Increase in Inventories (88,760) (69,744)
Decrease (increase) in prepaid expenses and other assets 68,836 (20,325)
(Decrease) increase in deferred revenue (54,596) 12,400
Increase in accounts payable, accrued expenses and other liabilities 76,654 187,695
Total adjustments 140,763 106,970
Net cash provided by operating activities 618,743 355,901
Cash flows from investing activities:    
Purchases of marketable securities (601,313) (208,694)
Sales or maturities of marketable securities 255,276 119,012
Capital expenditures (79,375) (50,461)
Net cash used in investing activities (425,412) (140,143)
Cash flows from financing activities:    
Proceeds in connection with capital and facility lease obligations 0 57,000
Payments in connection with capital and facility lease obligations 0 (12,861)
Proceeds from issuance of Common Stock 13,427 16,673
Net cash provided by financing activities 13,427 60,812
Net increase in cash, cash equivalents, and restricted cash 206,758 276,570
Cash, cash equivalents, and restricted cash at beginning of period 825,233 547,703
Cash, cash equivalents, and restricted cash at end of period $ 1,031,991 $ 824,273