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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net earnings $ 25,616 $ 5,694
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 21,362 6,592
Navitor investment R&D expense (see Note 5) 0 15,000
Other income from Navitor (see Note 5) (12,888) 0
Amortization of deferred financing costs and debt discount 526 4,287
Realized gains from sales of marketable securities 0 (216)
Amortization of premium/discount on marketable securities (360) (1,706)
Change in fair value of contingent consideration 665 1,020
Other noncash adjustments, net 84 (1,202)
Share-based compensation expense 4,025 4,371
Deferred income tax benefit (13,011) (2,565)
Changes in operating assets and liabilities:    
Accounts receivable 3,812 13,805
Inventories (2,468) (1,048)
Prepaid expenses and other assets 1,061 (368)
Accrued product returns and rebates 7,457 2,544
Accounts payable and other liabilities (29,479) (10,008)
Contingent consideration 2,100 0
Net cash provided by operating activities 4,302 36,200
Cash flows from investing activities    
Purchases of marketable securities (98,063) (119,063)
Sales and maturities of marketable securities 28,927 49,579
Purchases of property and equipment and deferred legal fees paid (851) (1,961)
Net cash used in investing activities (69,987) (71,445)
Cash flows from financing activities    
Payment of contingent consideration (22,900) 0
Proceeds from issuance of common stock 866 2,247
Net cash (used in) provided by financing activities (22,034) 2,247
Net change in cash and cash equivalents (87,719) (32,998)
Cash and cash equivalents at beginning of year 203,434 288,640
Cash and cash equivalents at end of period 115,715 255,642
Supplemental cash flow information    
Cash paid for interest on convertible notes 1,258 1,258
Cash paid for income taxes 478 301
Cash paid for operating leases 2,949 1,834
Noncash investing and financing activities    
Lease assets and tenant receivable obtained for new operating leases 27 1,432
Deferred legal fees and fixed assets included in accounts payable and accrued expenses 0 160
Capital Expenditures Incurred but Not yet Paid $ 549 $ 0