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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ 312,442 $ 326,661 $ 28,067
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation, amortization and accretion 64,624 60,043 47,929
Impairment of long-lived assets 0 138,050 0
Asset retirement obligation acceleration 0 0 280
Gain on interest rate swap termination 0 0 (5,494)
Amortization of debt related costs 4,296 4,300 1,249
Changes in fair value of contingent assets and liabilities (2,699) (9,275) 34,700
Charges incurred in connection with acquired IPR&D 66,000 0 260,000
Loss on extinguishment of debt 0 0 588
Provision for excess and obsolete inventory (904) 7,914 7,145
Stock-based compensation 76,393 50,507 29,262
Gain on disposal of assets (8,415) (51,789) 0
Unrealized loss on investment in equity securities 43,564 0 0
Deferred taxes (30,029) (55,632) (48,016)
Long-term indemnification receivable 0 3,929 9,554
Long-term income tax payable and other long-term liabilities 5,236 (3,103) (12,477)
Other 12,194 4,855 4,059
Changes in assets and liabilities which provided (used) cash:      
Accounts receivable (37,685) (68,637) (128,460)
Inventory (2,670) (36,220) (7,508)
Other current assets 4,440 (2,418) (2,440)
Other long-term assets 0 0 (533)
Accounts payable (8,804) 17,189 301
Accrued expenses and other liabilities 46,767 (81,114) 63,575
Net cash provided by operating activities 544,750 305,260 281,781
Investing activities      
Capital expenditures (51,625) (46,555) (18,347)
Proceeds from sale of assets, net 17,767 97,839 1,800
Purchases of investment in equity securities (83,246) 0 0
Acquisition of assets, net (80,911) (45,345) (260,000)
Acquisition of exclusive license option (28,000) 0 0
Net cash (used in) provided by investing activities (226,015) 5,939 (276,547)
Financing activities      
Proceeds from issuance of common stock 3,450 1,933 1,375
Debt issuance costs 0 0 (95)
Proceeds from issuance of long-term debt, net 0 0 557,750
Contingent value rights settlement 0 (3,700) 0
Payments on long-term debt and other borrowings (318) (717) (175,385)
Deferred financing costs (2,331) 0 (2,315)
Proceeds from interest rate swap termination 0 0 5,583
Proceeds from stock option exercises 3,278 3,816 7,537
Payments for minimum statutory tax withholding related to net share settlement of equity awards (22,615) (14,394) (7,759)
Repurchase of common stock (100,000) 0 (75,000)
Net cash (used in) provided by financing activities (118,536) (13,062) 311,691
Effect of foreign exchange rates on cash and cash equivalents (998) (93) (335)
Net increase in cash and cash equivalents and restricted cash 199,201 298,044 316,590
Cash and cash equivalents and restricted cash, beginning of year 715,285 417,241 100,651
Cash and cash equivalents and restricted cash, end of year 914,486 715,285 417,241
Reconciliation to amounts within the consolidated balance sheets      
Cash and cash equivalents 912,814 713,656 415,652
Restricted cash included in other long-term assets 1,672 1,629 1,589
Cash, cash equivalents and restricted cash at end of period 914,486 715,285 417,241
Supplemental disclosure of cash flow information      
Interest 15,094 15,387 5,064
Income taxes, net of refunds of $2,688, $25 and $50, respectively 153,815 151,579 54,049
Schedule of non-cash investing and financing activities      
Additions of property, plant and equipment included in liabilities 5,058 6,978 2,370
Lease liability settled through transfer of lease 762 0 0
Right-of-use asset obtained in exchange for operating lease liabilities 63 29,396 11,019
Excise tax payable on net common stock repurchases $ 251 $ 0 $ 0