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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income (loss) $ 41,980 $ 145,523 $ (11,016)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Deferred taxes 10,872 (126,613) (1,828)
Depreciation of fixed assets and amortization of intangible assets 28,548 19,908 19,576
Amortization of debt issuance costs 2,754 2,156 1,707
Amortization of debt discount 23,152 18,254 13,746
(Gain) loss on disposal and impairment of fixed assets (10) 22 1,010
Loss on early extinguishment of debt 0 8,071 0
Stock-based compensation 42,246 39,920 33,650
Changes in contingent consideration (after an acquisition) (989) 5,204 16,672
(Gain) loss on investment (net of stock dividend) and other non-operating income, net 2,673 (1,618) 4,315
Changes in operating assets and liabilities (net of acquisitions):      
Accounts receivable, net (10,434) (5,516) (8,524)
Inventories, net (4,467) (6,353) (8,026)
Prepaid expenses and other assets 1,142 (739) (3,885)
Accounts payable (10,262) (3,312) (1,822)
Accrued expenses and income taxes payable 5,451 (5,999) 22,041
Other liabilities (229) (2,467) (6,726)
Payment of contingent consideration (6,835) (9,409) (370)
Deferred revenue 125 0 0
Net cash provided by operating activities 125,717 77,032 70,520
Investing activities:      
Acquisition of Flexion Therapeutics, Inc. (net of cash acquired) 420,042 0 0
Acquisition of MyoScience, Inc. (net of cash acquired) 0 0 (117,691)
Purchases of fixed assets (45,866) (37,801) (10,159)
Purchases of available-for-sale investments (611,488) (546,516) (318,484)
Sales of available-for-sale investments 1,068,736 307,870 319,468
Payment of contingent consideration (4,000) 0 0
Sale of equity investment 9,057 0 0
Purchases of equity and debt investments (17,187) (1,160) (1,622)
Net cash used in investing activities (20,790) (277,607) (128,488)
Financing activities:      
Proceeds from exercises of stock options 23,844 45,218 8,469
Proceeds from common stock issued under employee stock purchase plan 2,811 2,546 2,402
Proceeds from term loan B credit facility 363,750 0 0
Conversion premium on 2019 convertible senior notes 0 0 (233)
Payment of debt issuance and financing costs (4,546) (12,487) 0
Payment of contingent consideration (5,165) (5,591) (6,630)
Net cash provided by financing activities 380,694 222,304 3,670
Net increase (decrease) in cash and cash equivalents 485,621 21,729 (54,298)
Cash and cash equivalents, beginning of year 99,957 78,228 132,526
Cash and cash equivalents, end of year 585,578 99,957 78,228
Supplemental cash flow information:      
Cash paid for interest 6,996 7,205 8,199
Cash paid for income taxes, net of refunds 3,221 2,417 863
Non-cash investing and financing activities:      
Fixed assets included in accounts payable and accrued liabilities 6,828 9,288 3,019
Net increase in contingent consideration liabilities 45,241 0 28,470
Convertible Senior Notes Due 2025      
Financing activities:      
Proceeds from debt component of the 2025 convertible senior notes 0 314,708 0
Proceeds from equity component of the 2025 convertible senior notes 0 87,792 0
Convertible Senior Notes 2019      
Financing activities:      
Repayment of convertible senior notes 0 0 (338)
Convertible Senior Notes Due 2022      
Financing activities:      
Repayment of convertible senior notes 0 (176,793) 0
Retirement of equity component of the 2022 convertible senior notes $ 0 $ (33,089) $ 0