XML 23 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net (loss) income $ (223,359) $ (35,603) $ 11,058
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Recognition of deferred product revenue - Zanaflex     (22,186)
Share-based compensation expense 32,814 36,386 33,467
Amortization of net premiums and discounts on investments   467 3,366
Amortization of debt discount and debt issuance costs 12,153 9,717 8,562
Depreciation and amortization expense 23,234 21,582 15,012
Intangible asset impairment 296,763    
Change in contingent consideration obligation 40,622 8,600 10,900
Gain on sale of Zanaflex franchise (3,534)    
Realized gain on foreign currency transaction 247 (9,856)  
Restructuring costs, net of cash payments 1,472    
Non-cash royalty revenue (2,705)    
Deferred tax (benefit) provision (54,044) (11,190) 3,975
Excess tax charge (benefit) from share-based compensation arrangements   15 (194)
Changes in assets and liabilities:      
(Increase) decrease in accounts receivable (29,112) (19,965) 744
Decrease (increase) in prepaid expenses and other current assets 3,445 6,904 (998)
Decrease (increase) in inventory 5,505 (6,660) (9,639)
Decrease in non-current portion of deferred cost of license revenue 634 634 634
Decrease in other assets 3,759 34 34
(Decrease) increase in accounts payable, accrued expenses and other current liabilities (3,571) 37,625 (1,184)
Decrease in non-current portion of deferred license revenue (9,057) (9,057) (9,057)
Increase (decrease) in other non-current liabilities 1,491 16 (198)
Decrease in deferred product revenue—Zanaflex     (989)
(Increase) decrease in restricted cash (257) 5,698 (4,826)
Net cash provided by operating activities 96,500 35,347 38,481
Cash flows from investing activities:      
Purchases of property and equipment (13,688) (6,192) (5,921)
Purchases of intangible assets (688) (893) (1,145)
Acquisitions, net of cash received and gain on foreign currency transaction   (266,454)  
Net proceeds from sale of Zanaflex franchise 3,663    
Purchases of investments   (40,215) (434,670)
Proceeds from maturities of investments   239,968 356,500
Net cash used in investing activities (10,713) (73,786) (85,236)
Cash flows from financing activities:      
Debt issuance costs   (1,587)  
Proceeds from issuance of common stock and option exercises 10,479 75,520 18,096
Repayment/(purchase) of non-controlling interest 2,722 (27,946)  
Purchase of treasury stock (60)    
Net proceeds from royalty monetizations 50,787    
Repayment of loans payable (2,409)    
Excess tax (benefit) charge from share-based compensation arrangements   (15) 194
Repayments of revenue interest liability   (41) (501)
Net cash provided by financing activities 61,519 45,931 17,789
Effect of exchange rate changes on cash and cash equivalents 1,225 (2,159)  
Net increase (decrease) in cash and cash equivalents 148,531 5,333 (28,966)
Cash and cash equivalents at beginning of period 158,537 153,204 182,170
Cash and cash equivalents at end of period 307,068 158,537 153,204
Supplemental disclosure:      
Cash paid for interest 6,066 6,059 7,218
Cash paid for taxes $ 14,929 $ 4,250 $ 4,697