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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Mar. 31, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Operating activities:            
Net income (loss) $ (43,091)   $ 18,432 $ (145,340) $ 99,304  
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:            
Depreciation       9,713 9,345  
Amortization of right-of-use operating lease assets       1,356 1,433  
Amortization of patents       1,526 1,139  
Amortization of premium (discount) on investments, net       7,812 (7,064)  
Amortization of debt issuance costs       1,884 1,448  
Amortization of convertible senior notes discount       26,912 26,747  
Stock-based compensation expense       135,077 111,564  
Gain on investments (835)   0 (10,722) 0  
Non-cash losses related to patents, licensing and property, plant and equipment and investments       616 216  
Provision for deferred income taxes       (3,475) 4,103  
Changes in operating assets and liabilities:            
Contracts receivable       24,057 (33,716)  
Inventories       (1,468) (6,606)  
Other current and long-term assets       (5,647) (23,377)  
Income taxes       (23,674) 0  
Accounts payable       (10,970) (18,764)  
Accrued compensation       (8,967) (4,864)  
Other current liabilities       13,195 3,909  
Deferred contract revenue       (73,970) (97,029)  
Net cash provided by (used in) operating activities       (62,085) 67,788  
Investing activities:            
Purchases of short-term investments       (1,376,631) (1,617,726)  
Proceeds from sale of short-term investments       1,497,433 1,465,600  
Purchases of property, plant and equipment       (29,971) (23,143)  
Acquisition of licenses and other assets, net       (4,203) (4,196)  
Net cash used in investing activities       86,628 (179,465)  
Financing activities:            
Proceeds from issuance of equity, net       29,450 112,137  
Payments of tax withholdings related to vesting of employee stock awards and exercise of employee stock options       (12,960) (18,841)  
Repurchases and retirements of common stock   $ (90,600)   (90,548) 0 $ (34,400)
Payments of transaction costs for Akcea acquisition       (1,071) 0  
Principal payments on debt obligations       0 (12,500)  
Net cash provided by (used in) financing activities       (75,129) 80,796  
Effect of exchange rates on cash       358 0  
Net decrease in cash and cash equivalents       (50,228) (30,881)  
Cash and cash equivalents at beginning of period   $ 683,287   683,287 278,820 278,820
Cash and cash equivalents at end of period $ 633,059   $ 247,939 633,059 247,939 $ 683,287
Supplemental disclosures of cash flow information:            
Interest paid       3,700 5,474  
Income taxes paid       23,532 9,037  
Supplemental disclosures of non-cash investing and financing activities:            
Right-of-use assets obtained in exchange for lease liabilities       0 14,178  
Amounts accrued for capital and patent expenditures       6,576 3,251  
Accrued amounts for Akcea acquisition transaction costs       $ 8,103 $ 0