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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net income $ 193,139 $ 91,324
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation, amortization and accretion 30,264 30,375
Impairment of long-lived assets 0 138,050
Amortization of debt related costs 2,145 2,155
Changes in fair value of contingent assets and liabilities 100 (8,975)
Provision for excess and obsolete inventory 1,925 3,179
Stock-based compensation 33,863 22,359
Gain on disposal of assets (6,254) 0
Unrealized gain on investment in equity securities (38,167) 0
Charges incurred in connection with acquired IPR&D 66,000 0
Deferred taxes (7,629) (39,616)
Long-term indemnification receivable 0 (327)
Long-term income tax payable and other long-term liabilities 1,588 1,386
Other 4,582 1,735
Changes in assets and liabilities which provided (used) cash:    
Accounts receivable (88,028) (39,078)
Inventory (7,975) (19,255)
Other current assets 3,166 (9,260)
Other long-term assets (353) 0
Accounts payable 6,873 14,186
Accrued expenses and other liabilities 16,719 (112,004)
Net cash provided by operating activities 211,958 76,234
Investing activities    
Capital expenditures (19,448) (19,865)
Acquisition of assets, net (33,911) (45,345)
Proceeds from sale of assets 8,000 0
Purchases of investment in equity securities (78,256) 0
Acquisition of exclusive license option (28,000) 0
Net cash used in investing activities (151,615) (65,210)
Financing activities    
Payments on long-term debt and other borrowings (628) (528)
Contingent value rights settlement 0 (3,700)
Proceeds from stock option exercises 2,483 3,189
Proceeds from issuance of common stock 1,823 940
Payments for minimum statutory tax withholding related to net share settlement of equity awards (20,424) (12,621)
Net cash used in financing activities (16,746) (12,720)
Effect of foreign exchange rates on cash, cash equivalents and restricted cash (213) 139
Net increase (decrease) in cash, cash equivalents and restricted cash 43,384 (1,557)
Cash, cash equivalents and restricted cash, beginning of period 715,285 417,241
Cash, cash equivalents and restricted cash, end of period 758,669 415,684
Reconciliation to amounts within the condensed consolidated balance sheets    
Cash and cash equivalents 757,018 414,076
Restricted cash included in other long-term assets 1,651 1,608
Cash, cash equivalents and restricted cash at end of period 758,669 415,684
Schedule of non-cash investing and financing activities    
Additions of property, plant and equipment included in liabilities 7,937 9,826
Acquisition of IPR&D included in liabilities 37,000 0
Lease liability settled through transfer of lease $ 376 $ 0