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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES:    
Net income $ 41,148 $ 34,882
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 89,853 81,584
Non-cash in-process research and development expense 0 59,889
Non-cash impairment charges 0 5,764
Income tax expense (benefit) 4,784 (10,536)
Share-based compensation 14,333 15,744
Amortization of debt issuance costs and expenses associated with debt refinancing 10,499 4,084
Non-cash lease expense 2,172 3,473
Accretion of bond issuance discount 11,075 0
Loss on disposal of property and equipment 559 844
Change in fair value of contingent consideration and others (45) 10
Changes in assets and liabilities:    
Accounts receivable 57,863 (17,519)
Inventories (45,531) (30,553)
Prepaid expenses and other current assets (865) (8,162)
Other non-current assets 10,868 6,650
Accounts payable, accrued expenses and other current liabilities (67,178) 366
Contract liabilities (548) (1,395)
Other non-current liabilities (5,417) (2,876)
Net cash provided by operating activities 123,570 142,249
INVESTING ACTIVITIES:    
Purchases of property and equipment (30,463) (47,343)
Acquired in-process research and development milestone (5,000) 0
Proceeds from note receivable 0 752
Proceeds from sale of property and equipment 3,311 36
Cash (paid) provided for business acquisitions, net of cash acquired 0 (30,509)
Acquired in-process research and development 0 (64,995)
Net cash used in investing activities (32,152) (142,059)
FINANCING ACTIVITIES:    
Proceeds from borrowings of long-term indebtedness 151,300 215,800
Payments on debt (441,000) (143,250)
Purchase of option hedge on convertible notes (104,248) 0
Proceeds from convertible notes issuance 575,000 0
Proceeds from sale of stock purchase warrants 44,563 0
Payment of debt issuance costs (24,347) 0
Purchases of treasury stock (100,000) 0
Proceeds from exercised stock options 3,821 6,948
Cash taxes paid in net equity settlement (4,686) (6,272)
Net cash provided by financing activities 100,403 73,226
Effect of exchange rate changes on cash and cash equivalents 5,547 (4,273)
Net increase in cash and cash equivalents 197,368 69,143
Cash and cash equivalents at beginning of period 198,911 138,838
Cash and cash equivalents at end of period $ 396,279 $ 207,981