XML 23 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income (loss) $ (440,242) $ (1,131,156) $ (852,824)
Non-cash adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 54,054 44,468 47,567
Amortization and interest accretion related to operating leases 42,977 41,082 42,127
Non-cash interest expense on liability related to the sale of future royalties 106,554 104,200 116,562
Stock-based compensation 221,680 230,649 165,717
Realized and unrealized loss (gain) on marketable equity securities 16,944 33,312 (55,695)
Loss on extinguishment of debt 0 76,586 0
Change in fair value of development derivative liability 90,997 94,659 38,433
Other 433 479 19,243
Changes in operating assets and liabilities:      
Accounts receivable, net (87,939) (45,597) (101,799)
Inventory 18,367 (34,136) (26,415)
Prepaid expenses and other assets (9,029) (38,507) (32,093)
Accounts payable, accrued expenses and other liabilities 80,840 191,769 88,240
Operating lease liability (46,502) (43,171) (40,352)
Deferred revenue 55,022 (65,911) (50,404)
Net cash provided by (used in) operating activities 104,156 (541,274) (641,693)
Cash flows from investing activities:      
Purchases of property, plant and equipment (62,211) (72,059) (76,372)
Purchases of marketable securities (1,823,501) (1,976,961) (1,656,114)
Sales and maturities of marketable securities 1,553,800 2,231,568 1,463,550
Proceeds from maturity of restricted investments 58,475 89,951 41,975
Purchases of restricted investments (58,475) (98,451) (42,141)
Other investing activities (4,438) (4,694) (4,198)
Net cash (used in) provided by investing activities (336,350) 169,354 (273,300)
Cash flows from financing activities:      
Proceeds from exercise of stock options and other types of equity, net 147,464 259,360 246,268
Proceeds from convertible debt, net 0 1,016,111 0
Purchases of capped calls related to convertible debt 0 (118,611) 0
Proceeds from the sale of future royalties 0 0 500,000
Proceeds from development derivative 24,667 31,000 19,600
(Repayment of) proceeds from term loan facility 0 (762,107) 500,000
Other financing activities 0 0 (18,750)
Net cash provided by financing activities 172,131 425,753 1,247,118
Effect of exchange rate changes on cash, cash equivalents and restricted cash 6,391 (7,430) (9,018)
Net (decrease) increase in cash, cash equivalents and restricted cash (53,672) 46,403 323,107
Cash, cash equivalents and restricted cash, beginning of period 868,556 822,153 499,046
Cash, cash equivalents and restricted cash, end of period 814,884 868,556 822,153
Supplemental disclosure of cash flows:      
Cash paid for interest 32,118 45,235 24,657
Supplemental disclosure of noncash investing activities:      
Capital expenditures included in accounts payable and accrued expenses $ 3,805 $ 5,213 $ 13,599