XML 53 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating activities:      
Net income (loss) $ (84,801) $ (61,251) $ 150,672
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation 6,594 4,840 3,935
Amortization of patents 1,938 1,961 3,024
Amortization of licenses 3,252 2,376 2,344
Amortization of premium on investments, net 5,410 5,075 2,026
Amortization of debt issuance costs 507 507 507
Amortization of 2 5/8 percent convertible subordinated notes discount 8,553 7,795 7,107
Share-based compensation expense 9,845 12,159 13,385
Equity in net loss of Regulus Therapeutics Inc. 3,554 2,228  
Gain from sale of Ibis Biosciences, Inc. to Abbott Molecular Inc.     (185,657)
Gain from the sale of property, plant and equipment   (72)  
(Gain) loss on investments, net (4,182) 713 (2,084)
Non-cash losses related to patents, licensing and property, plant and equipment 1,924 1,512 696
Excess tax benefits on share-based compensation     (278)
Changes in operating assets and liabilities:      
Contracts receivable (5,679) 10,479 (6,778)
Inventories (1,655) 284 (17)
Other current and long-term assets 914 (943) (955)
Accounts payable 875 1,325 (3,652)
Accrued compensation 2,352 394 (4,371)
Income taxes payable   (7,178) (10,013)
Deferred rent 382    
Accrued liabilities 6,273 1,013 4,318
Deferred contract revenue (70,857) (46,810) (82,650)
Net cash used in operating activities (114,801) (63,593) (108,441)
Investing activities:      
Purchases of short-term investments (371,108) (530,137) (776,381)
Proceeds from the sale of short-term investments 488,918 577,533 578,886
Purchases of property, plant and equipment (7,331) (13,237) (13,414)
Proceeds from the sale of property, plant and equipment   185  
Proceeds from land sold to BioMed   10,147  
Reduction of cash due to deconsolidation of Regulus Therapeutics Inc. upon adoption of a new accounting standard   (16,228)  
Acquisition of licenses and other assets, net (3,667) (4,319) (2,880)
Purchases of strategic investments, net of proceeds received (359) (250) (1,349)
Proceeds from the sale of strategic investments 4,445   2,848
Net cash provided by (used in) investing activities 110,898 23,694 (212,290)
Financing activities:      
Proceeds from issuance of equity 3,567 4,356 13,156
Excess tax benefits on share-based compensation     278
Proceeds from equipment financing arrangement 1,625 4,694 6,394
Principal payments on debt and capital lease obligations (5,864) (4,354) (2,827)
Proceeds from sale of Ibis Biosciences, Inc to Abbott Molecular Inc.     175,000
Proceeds from Alnylam's capital contribution to Regulus Therapeutics Inc.     10,000
Net cash (used in) provided by financing activities (672) 4,696 202,001
Net decrease in cash and cash equivalents (4,575) (35,203) (118,730)
Cash and cash equivalents at beginning of year 70,052 105,255 223,985
Cash and cash equivalents at end of year 65,477 70,052 105,255
Supplemental disclosures of cash flow information:      
Interest paid 4,804 4,889 4,883
Income taxes paid, net of refund received 2 7,270 13,205
Supplemental disclosures of non-cash investing and financing activities:      
Amounts accrued for capital and patent expenditures 902 922 870
Capital lease obligations   770  
Capitalized costs and financing liability associated with leased facility $ 59,730