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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income (loss) $ (157,833) $ 85,201
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Intangible asset amortization 62,847 56,885
Share-based compensation 28,654 27,552
Impairment charge 136,139 0
Depreciation 4,527 3,539
Acquired in-process research and development 202,250 56,000
Loss on disposal of assets 73 3
Deferred tax benefit (63,976) (17,053)
Provision for losses on accounts receivable and inventory 2,620 528
Amortization of debt discount and deferred financing costs 12,000 11,133
Other non-cash transactions 1,902 (738)
Changes in assets and liabilities:    
Accounts receivable 37,861 (56,960)
Inventories (10,235) (8,688)
Prepaid expenses and other current assets (17,843) (988)
Other non-current assets 323 426
Operating lease assets 3,195 2,108
Accounts payable 19,604 1,554
Accrued liabilities (12,198) (3,730)
Income taxes payable 20,829 39,726
Deferred revenue (1,180) (1,874)
Other non-current liabilities 7,316 6,773
Operating lease liabilities, less current portion (3,906) 856
Net cash provided by operating activities 272,969 202,253
Investing activities    
Proceeds from maturity of investments 345,000 345,000
Purchases of property, plant and equipment (4,830) (7,948)
Acquired in-process research and development (202,250) (56,000)
Acquisition of intangible assets (13,000) 0
Acquisition of investments (185,000) (115,000)
Net cash (used in) provided by investing activities (60,080) 166,052
Financing activities    
Proceeds from employee equity incentive and purchase plans 13,264 3,057
Payment of employee withholding taxes related to share-based awards (13,547) (13,810)
Repayments of long-term debt (8,347) (8,347)
Share repurchases (139,053) (111,249)
Net cash used in financing activities (147,683) (130,349)
Effect of exchange rates on cash and cash equivalents (948) (112)
Net increase in cash and cash equivalents 64,258 237,844
Cash and cash equivalents, at beginning of period 637,344 309,622
Cash and cash equivalents, at end of period $ 701,602 $ 547,466