XML 14 R7.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 151,700 $ 193,139
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation, amortization and accretion 26,857 30,264
Adjustment to the fair value of asset retirement obligation (4,727) 0
Amortization of debt-related costs 2,230 2,145
Inventory adjustments 936 1,925
Stock-based compensation 43,519 33,863
Gain on disposal of assets 0 (6,254)
Unrealized loss (gain) on investment in equity securities 289 (38,167)
Charges incurred pursuant to acquired in-process research and development 5,413 66,000
Deferred taxes (5,577) (7,629)
Long-term income tax payable and other long-term liabilities (3) 1,588
Other 3,263 4,682
Changes in operating assets and liabilities, excluding impact of acquisitions:    
Accounts receivable (28,651) (88,028)
Inventory (5,410) (7,975)
Other current and noncurrent assets (1,916) 2,813
Accounts payable 9,365 6,873
Accrued expenses and other current and noncurrent liabilities (2,619) 16,719
Net cash provided by operating activities 194,669 211,958
Cash flows from investing activities:    
Capital expenditures (16,679) (19,448)
Acquisition of in-process research and development (5,413) 0
Proceeds from sale of assets 0 8,000
Acquisition of assets, net 0 (33,911)
Acquisition of Evergreen, net of cash acquired (269,098) 0
Purchases of investment in equity securities (5,000) (78,256)
Acquisition of exclusive license option 0 (28,000)
Net cash used in investing activities (296,190) (151,615)
Cash flows from financing activities:    
Payments of long-term debt and other borrowings (465) (628)
Proceeds from stock option exercises 6,331 2,483
Proceeds from employee stock purchase plan 1,983 1,823
Payments for minimum statutory tax withholding related to net share settlement of equity awards (24,481) (20,424)
Repurchase of common stock (100,000) 0
Net cash used in financing activities (116,632) (16,746)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 929 (213)
Net (decrease) increase in cash, cash equivalents and restricted cash (217,224) 43,384
Cash, cash equivalents and restricted cash, beginning of period 914,486 715,285
Cash, cash equivalents and restricted cash, end of period 697,262 758,669
Reconciliation to amounts within the condensed consolidated balance sheets    
Cash and cash equivalents 695,572 757,018
Restricted cash included in other long-term assets 1,690 1,651
Cash, cash equivalents and restricted cash at end of period 697,262 758,669
Schedule of non-cash investing and financing activities    
Additions of property, plant and equipment included in liabilities 6,834 7,937
Contingent consideration liabilities related to the acquisition of Evergreen 43,042 0
Lease liability settled through transfer of lease 0 376
Modification of lease agreement 5,789 0
Right-of-use asset obtained in exchange for finance lease obligation 150 0
Excise tax payable on net common stock repurchases 245 0
Acquisition of in-process research and development included in liabilities $ 0 $ 37,000