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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ (328,405) $ (30,143) $ 30,586
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 108,655 78,716 85,362
Non-cash interest 2,750 9,389 9,994
Amortization of deferred financing costs 1,161 785 847
Losses from investments in investees 383 629 480
Equity-based compensation – employees and non-employees 18,509 13,632 8,947
Non-cash revenue from the transfer of intellectual property 0 (3,801) 0
Realized loss (gain) on disposal of fixed assets and sales of equity securities (455) (33,922) (10,681)
Loss on conversion of the 2025 Notes 0 11,111 0
Change in fair value of equity securities and derivative instruments 153,835 3,967 (101)
Change in fair value of contingent consideration (1,312) (1,703) (3,989)
Gain on sale of GeneDx (18,559) 0 0
Deferred income tax provision (74,405) 10,159 15,640
Changes in assets and liabilities, net of the effects of acquisitions:      
Accounts receivable, net 128,602 5,232 (150,437)
Inventory, net 13,662 30,684 (77,642)
Other current assets and prepaid expenses (3,416) 1,478 20,504
Other assets 1,935 260 (447)
Accounts payable (9,388) (10,847) 37,159
Foreign currency measurement 2,369 2,345 (3,185)
Contract liabilities (329) (15,911) (5,389)
Accrued expenses and other liabilities (90,781) (33,723) 81,828
Net cash used in operating activities (95,189) 38,337 39,476
Cash flows from investing activities:      
Investments in investees 0 (2,000) 0
Proceeds from sale of investments 115,423 8,079 15,110
Acquisition of businesses, net of cash acquired (1,758) (4,000) 0
Proceeds from the sale of property, plant and equipment 1,951 66,026 245
Capital expenditures (24,578) (32,156) (33,682)
Net cash (used in) provided by investing activities 91,038 35,949 (18,327)
Cash flows from financing activities:      
Debt issuance costs 0 (188) 0
Net activity from the exercise of common stock options and warrants (774) 1,081 756
Borrowings on lines of credit 1,059,519 1,684,713 1,107,866
Repayments of lines of credit (1,035,774) (1,695,956) (1,143,698)
Net cash (used in) provided by financing activities 22,971 (10,350) (35,076)
Effect of exchange rate changes on cash and cash equivalents (339) (1,437) 686
Net increase (decrease) in cash and cash equivalents 18,481 62,499 (13,241)
Cash and cash equivalents at beginning of period 134,710 72,211 85,452
Cash and cash equivalents at end of period 153,191 134,710 72,211
SUPPLEMENTAL INFORMATION:      
Interest paid 7,420 8,515 10,908
Income taxes paid, net of refunds 8,037 5,969 (903)
Operating lease right-of-use assets obtained in exchange for lease obligations 0 6,493 0
Assets acquired by finance leases 4,717 0 0
Non-cash financing:      
Shares issued upon the conversion of: 2025 Convertible Notes 0 68,775 0
Common Stock options and warrants, surrendered in net exercise 1,268 0 0
Issuance of common stock for acquisition of ModeX 221,662 0 0
Fair value of shares included in consideration from GeneDx Holdings $ 172,000 $ 0 $ 0