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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net income $ 59.4 $ 3.0
Reconciliation of net income to net cash provided by operating activities:    
Share-based compensation expense 79.0 54.0
Depreciation 6.4 5.4
Amortization of debt discount 15.2 14.1
Amortization of debt issuance costs 1.0 1.0
Change in fair value of equity security investments 12.2 5.8
Other 1.7 (0.7)
Change in operating assets and liabilities:    
Accounts receivable (30.3) (57.9)
Inventories (3.4) 0.1
Accounts payable and accrued liabilities 28.1 12.3
Other assets and liabilities, net (29.7) 12.4
Net cash provided by operating activities 139.6 49.5
Cash Flows from Investing Activities:    
Purchases of debt securities available-for-sale (399.2) (467.1)
Sales and maturities of debt securities available-for-sale 557.4 488.8
Purchases of equity securities 0.0 (54.7)
Purchases of property and equipment (6.4) (11.9)
Net cash provided by (used in) investing activities 151.8 (44.9)
Cash Flows from Financing Activities:    
Issuance of common stock 21.6 20.0
Net cash provided by financing activities 21.6 20.0
Change in cash, cash equivalents and restricted cash 313.0 24.6
Cash, cash equivalents and restricted cash at beginning of period 115.5 147.2
Cash, cash equivalents and restricted cash at end of period 428.5 171.8
Supplemental Disclosure:    
Non-cash capital expenditures 1.1 0.1
Cash paid for interest 5.8 5.8
Cash paid for income taxes $ 0.4 $ 0.5