Akorn, inc (AKRX)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
OPERATING ACTIVITIES:
Net (loss)

-256,727

-80,660

47,670

-111,599

-82,181

-215,038

-70,140

-87,984

-28,747

-65,217

-2,897

2,537

41,027

32,455

47,909

61,993

41,886

32,785

47,967

32,508

37,538

17,979

-12,333

-1,256

9,494

16,678

12,205

12,637

10,842

8,811

13,753

9,706

3,108

5,733

13,524

17,946

5,810

Adjustments to reconcile consolidated net (loss) to net cash (used in) operating activities:
Depreciation and amortization

13,874

17,063

17,114

17,373

18,750

21,704

20,662

20,161

20,278

21,381

21,580

21,298

20,914

21,978

21,874

21,643

22,468

23,089

19,093

23,633

21,109

20,561

18,705

11,890

6,675

4,551

3,274

3,362

3,289

3,215

2,921

2,808

2,511

1,545

1,392

1,183

1,126

Amortization of debt financing costs

8,629

16,014

8,581

5,655

1,304

1,304

1,304

1,304

1,304

1,304

1,304

1,304

1,304

1,304

1,304

1,841

6,311

774

1,086

1,493

997

1,114

2,271

6,373

226

220

211

207

204

201

193

195

193

187

165

1,403

193

Impairment of intangible assets

-

-

-

-

-

-

-

-

-

-

7,599

7,854

225

35,001

9,210

0

158

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fixed asset impairment and other

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of favorable contracts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18

18

17

18

18

18

17

18

-1,430

-157

-159

-159

-635

0

0

0

-

-

-

-

Impairment of intangible assets

0

-

0

394

10,354

-

29,649

64,534

18,815

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill impairment

267,923

0

0

0

15,955

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fixed asset impairment and other

0

-

-

-

10,089

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of inventory step-up

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

0

0

4,682

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash stock compensation expense

3,431

5,247

5,726

5,588

4,720

4,304

5,746

5,945

5,508

5,392

5,782

5,135

4,709

4,130

4,836

3,525

2,921

3,727

3,208

3,088

2,974

2,687

1,790

1,993

1,282

1,376

1,430

2,541

1,703

1,983

1,868

1,758

1,423

1,392

1,273

1,763

731

Non-cash interest expense

1,670

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash interest expense

1,670

-

-

-

0

-

-

-

-

-

-

-

-

7

6

310

454

436

453

703

1,186

916

1,300

1,406

1,249

1,208

1,163

1,037

1,226

2,821

1,228

1,204

1,183

914

1,195

0

0

Non-cash gain on bargain purchase

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,698

-849

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes, net

225

720

-15

-394

28

-5,330

18,214

16,679

7,833

111,842

1,066

1,167

1,174

19,588

3,622

1,715

8,009

18,551

9,291

9,102

9,186

-22,759

20,167

18,381

1,722

-262

-628

-403

-798

133

3,061

-1,484

-1,777

-2,277

6,688

0

0

Excess tax benefit from stock compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

18,053

29,944

-2,530

31,325

689

33

1,736

447

507

238

2,081

812

0

1,595

0

0

0

0

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-32

-22

-1,091

-98

-

-

-

-

4

0

0

76

0

0

0

0

20

0

13,706

824

Gain on sale of available-for-sale security

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-146

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-83

-

0

2

-31

-

-14

263

218

-

541

-319

31

-

15

-780

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Other non-current assets

8,565

-774

-15

144

-584

731

2,361

65

-37

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Trade accounts receivable

53,009

-8,731

-29,644

-1,787

21,283

-10,642

-23,624

10,385

35,508

-47,459

11,328

-56,285

-49,563

20,365

57,956

32,941

21,355

11,769

8,393

-60,065

-384

62,975

-3,895

13,266

450

3,419

3,950

-1,050

7,958

6,648

7,228

6,066

3,914

5,601

2,912

1,885

3,183

Inventories, net

2,486

2,032

5,277

-367

-10,819

-21,116

3,687

-1,557

9,292

1,081

1,061

8,933

-2,708

-4,464

-8,396

-3,276

5,928

9,552

19,821

6,797

14,559

5,348

3,810

4,240

5,987

-778

147

2,987

1,441

2,367

3,519

5,406

4,155

1,143

4,643

2,608

913

Deferred tax assets, net

225

720

-15

-394

28

-5,330

18,214

16,679

7,833

111,842

1,066

1,167

1,174

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other current assets

27,895

13,561

-6,509

-4,898

-1,079

-3,474

7,831

3,793

-11,997

-10,237

24,547

1,188

-3,266

913

-17,072

22,231

1,190

-2,132

6,010

-18,556

-2,896

10,706

14,558

-54,610

-1,026

1,515

-329

464

-1,002

4,637

-19

796

275

-33

-904

1,113

7

Trade accounts payable

-10,057

-10,378

13,790

1,356

722

-15,754

10,150

-10,716

11,318

-7,441

11,683

-9,179

-4,286

441

920

6,726

-1,948

-14,176

12,980

-11,539

7,916

12,075

-9,636

5,424

6,100

531

1,595

1,710

-1,861

5,222

1,281

362

-2,376

-520

851

1,127

1,088

Accrued legal fees and contingencies

10,640

-

-

-

2,703

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Uncertain tax liabilities

-51

-

-

-

-1,420

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued legal fees and contingencies

10,640

21,218

43,184

-71,365

2,703

-3,198

-5,535

-28,240

12,853

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Uncertain tax liabilities

-51

-348

50,231

-1,106

-1,420

-9,044

198

-332

-512

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses and other liabilities

12,680

-10,635

1,921

1,559

-33

-4,924

308

7,604

-7,345

-29,871

41,831

-38,347

8,296

16,852

9,580

-14,600

-26,783

6,230

27,103

40,036

19,860

13,538

49,669

-40,738

5,498

1,123

4,878

-3,055

-409

-820

8,383

-2,012

5,169

644

2,111

1,107

-2,194

NET CASH (USED IN) OPERATING ACTIVITIES

-61,429

-41,713

34,105

1,152

-30,463

-32,154

-5,467

318

-31,591

39,182

49,424

32,444

126,583

71,069

59,544

27,092

8,985

45,549

71,050

135,783

45,266

27,085

-7,896

-2,123

23,376

14,916

21,012

14,476

6,922

4,932

15,026

3,237

3,049

5,441

6,886

5,503

1,827

INVESTING ACTIVITIES:
Payments for acquisitions and equity investments, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,500

-228

2,499

24,637

57,656

350,457

571,815

7,500

54,969

0

244

269

-177

0

0

55,224

50,678

10,723

26,011

0

Proceeds from disposal of assets

386

132

0

0

0

-

-

-

-

4

0

4,659

152

0

0

5,966

0

-

87

14

2,358

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

75

500

2,375

1,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property, plant and equipment

11,531

6,925

6,659

6,804

10,059

18,066

15,183

13,522

22,340

17,632

27,466

27,589

22,483

26,054

19,158

19,808

9,918

6,306

6,028

8,512

7,088

12,121

5,866

6,714

5,198

3,706

2,777

2,470

2,689

5,698

2,503

6,867

5,386

3,141

3,130

3,596

1,636

Distributions from unconsolidated joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

750

1,339

1,792

NET CASH (USED IN) INVESTING ACTIVITIES

-11,145

-6,793

-6,659

-6,891

-10,059

-18,064

-15,175

-13,552

-22,340

-17,628

-27,466

-23,130

-22,331

-26,129

-19,658

-16,217

-10,918

-4,506

-8,048

-11,797

-29,367

-69,576

-358,492

-526,108

-12,698

-58,425

-2,777

-2,714

-2,958

-5,521

-2,503

-6,867

-60,610

-48,141

-14,781

-31,956

-156

Proceeds from the exercise of stock options

-

-

-

-

-

0

292

-292

546

6

2,417

5,782

1,115

2,400

2,715

6,176

0

-1

1

958

10,958

1,975

4,796

1,049

1,022

783

1,174

397

868

906

449

0

523

469

116

123

379

Stock compensation plan withholdings for employee taxes

79

0

44

269

0

1

776

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,557

3,571

-

-

-

-

0

8,590

19,367

408

-

-

-

0

-

-

-

-

-

-

-

-

Net proceeds from common stock and warrant offering

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,727

Excess tax benefits from stock compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

18,053

29,944

-2,530

31,325

689

33

1,736

447

507

238

2,081

812

0

1,595

0

0

0

0

Payment of contingent acquisition liabilities

0

0

0

-116

116

-9,586

0

0

4,793

0

0

0

0

-

-

-

-

-2,499

0

-4,992

-1,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease payments

6

8

6

3

335

4

4

3

3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease Payments

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt repayment

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

200,000

2,612

2,613

2,612

2,613

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET CASH (USED IN) FINANCING ACTIVITIES

-85

-12,271

-50

-156

-451

-5

-488

-295

-4,250

359

338

5,782

1,115

-19,096

-22,285

4,619

-203,571

-9,219

-5,355

9,693

36,789

-18,212

390,139

590,542

647

2,044

-936

904

1,106

2,987

1,261

0

2,118

54

20

115,536

2,106

Effect of exchange rate changes on cash and cash equivalents

-37

43

-122

87

54

-132

-340

-601

41

585

-28

97

529

-191

155

-198

236

-23

-272

-121

165

-84

-201

-1

103

45

-113

-117

12

-19

208

-298

-181

0

0

0

0

(DECREASE) IN CASH AND CASH EQUIVALENTS

-72,696

-60,734

27,274

-5,808

-40,919

-50,355

-21,470

-14,130

-58,140

22,498

22,268

15,193

105,896

25,653

17,756

15,296

-205,268

31,801

57,375

133,558

52,853

-60,787

23,550

62,310

11,428

-41,420

17,186

12,549

5,082

2,379

13,992

-3,928

-55,624

-42,646

-7,875

88,771

4,089

SUPPLEMENTAL DISCLOSURES:
Amount paid for interest

23,803

-

18,794

17,865

16,314

-

15,025

13,200

12,262

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amount paid for interest

-

-

-

-

-

-

-

-

-

-

11,567

11,083

11,041

-

11,162

11,247

10,613

-

13,392

13,386

11,836

-

6,839

1,976

129

-

-

2,121

31

-

25

2,125

16

-

3

3

5

Amount (received) for income taxes, net

-56

-

399

-333

-14,526

-

407

1,055

8,205

-

254

43,943

-42

-

2,302

57,726

43,075

-

8,689

-12,991

238

-

-10,223

14,643

1,806

-

-

-

-

-

-

-

-

-

-

-

-

Additional capital expenditures included in accounts payable

2,514

-

238

-1,364

4,641

-

-1,506

3,783

8,227

-

928

1,235

7,571

-

-35,700

40,340

2,874

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Standstill Agreement related non-cash interest

1,670

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amount paid for income taxes, net of refunds received

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,934

2

-

5,728

5,756

63

-

563

949

206