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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income (loss) $ (14,618) $ 69,420
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Intangible asset amortization 155,730 149,786
Share-based compensation 61,441 56,352
Acquisition accounting inventory fair value step-up adjustment 28,943 60,458
Acquired in-process research and development 10,000 1,000
Depreciation 7,653 7,574
Provision for losses on accounts receivable and inventory 7,403 2,316
Non-cash interest expense 5,988 4,766
Deferred tax benefit (66,385) (66,061)
Other non-cash transactions 14,674 16,773
Changes in assets and liabilities:    
Accounts receivable (8,443) 28,460
Inventories (12,844) (6,266)
Prepaid expenses and other current assets 54,947 42,032
Operating lease assets 3,703 4,508
Other non-current assets (4,090) (9,541)
Accounts payable (19,597) 34,286
Accrued liabilities 34,677 (96,985)
Income taxes payable 14,858 25,413
Deferred revenue 0 (459)
Operating lease liabilities, less current portion (2,980) (4,959)
Other non-current liabilities (3,831) 1,835
Net cash provided by operating activities 267,229 320,708
Investing activities    
Acquisition of investments (375,000) 0
Acquired in-process research and development (10,000) (1,000)
Purchases of property, plant and equipment (6,904) (3,822)
Proceeds from maturity of investments 120,000 0
Net cash used in investing activities (271,904) (4,822)
Financing activities    
Payment of employee withholding taxes related to share-based awards (49,296) (43,266)
Repayments of long-term debt (7,750) (7,750)
Proceeds from employee equity incentive and purchase plans 494 21,228
Net cash used in financing activities (56,552) (29,788)
Effect of exchange rates on cash and cash equivalents (1,698) 331
Net increase (decrease) in cash and cash equivalents (62,925) 286,429
Cash and cash equivalents, at beginning of period 1,506,310 881,482
Cash and cash equivalents, at end of period $ 1,443,385 $ 1,167,911