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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) $ 56,061 $ (115,835)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, amortization and impairment charges 7,300 5,762
Stock-based compensation 9,377 19,078
Repayment of interest related to facility lease obligation (2,572) 0
Reclassification of currency translation adjustment and pension obligation adjustments to earnings upon sale of European operations 2,939 0
Gain on the Incyte transaction (131,575) 0
Increase (decrease) from:    
Accounts receivable (7,448) (6,022)
Inventory (1,122) (347)
Other current assets (1,027) 12,151
Other assets 1,522 527
Accounts payable (6,789) 97
Accrued compensation and benefits (10,593) (7,585)
Current portion of long-term facility lease obligation 0 393
Accrued product development expenses (69) 5,484
Other accrued expenses 7,514 1,381
Other liabilities (23,908) 2,828
Deferred revenue 2,643 3,471
Net cash used in operating activities (97,747) (78,617)
Cash flows from investing activities:    
Investment in property and equipment (31,504) (2,700)
Proceeds from the Incyte transaction, net of $4,484 of cash transferred 144,847 0
Net cash provided by (used in) investing activities 113,343 (2,700)
Cash flows from financing activities:    
Repayment of long-term debt (2,889) 0
Reimbursements of amounts related to facility lease obligation 26,759 15
Proceeds from issuance of common stock pursuant to stock option and purchase plans 4,074 2,620
Payment of tax withholding obligations related to stock compensation (1,337) (174)
Net cash provided by financing activities 26,607 2,461
Effect of exchange rates on cash (44) 134
Net increase (decrease) in cash and cash equivalents 42,159 (78,722)
Cash and cash equivalents, beginning of period 230,888 352,688
Cash and cash equivalents, end of period 273,047 273,966
Supplemental disclosures:    
Capitalization of construction-in-progress related to facility lease obligation 8,068 22,911
Non-cash transaction – property and equipment included in accounts payable or accruals 4,054 587
Non-cash transaction – sublease tenant improvements related to facility lease obligation 11,788 0
Non-cash transaction – marketable equity securities recorded at fair market value $ (5,909) $ 0