| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income (loss) | |||||||||||
-23,848 | -77,211 | -117,042 | -630,210 | -171,799 | -133,969 | -176,353 | -114,347 | -53,836 | 205,819 | -488 | 30,831 |
Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
105,300 | 95,671 | 87,861 | 96,912 | 47,187 | 45,871 | 36,014 | 44,335 | 35,046 | 27,737 | 20,975 | 17,617 |
Non-cash interest expense | |||||||||||
13,960 | 31,186 | 32,300 | 29,930 | 28,493 | 27,225 | 5,875 | 960 | 1,048 | - | 2,577 | 4,378 |
(Accretion of discount) Amortization of premium on investments | |||||||||||
2,000 | -358 | -3,077 | -1,300 | -2,177 | -7,211 | -5,899 | -4,469 | -4,036 | -4,453 | -1,443 | 6,487 |
Stock-based compensation | |||||||||||
159,865 | 148,819 | 140,263 | 134,641 | 111,525 | 86,410 | 64,376 | 47,340 | 43,909 | 38,362 | 36,005 | 28,335 |
Gain on sale of intangible assets | |||||||||||
25,000 | 50,000 | 125,000 | 0 | 369,498 | 67,500 | - | - | - | - | - | - |
Gain on sale of equity investment | |||||||||||
714 | 0 | 3,252 | -108 | 3,022 | 0 | - | - | - | - | - | - |
Gain on termination of leases | |||||||||||
- | - | - | - | - | 10,092 | - | - | - | - | - | - |
Impairment of assets | |||||||||||
- | - | - | 599,118 | 211,502 | 0 | 939 | 6,707 | 0 | 0 | - | - |
Equity in the loss of BioMarin/Genzyme LLC | |||||||||||
- | - | - | - | - | - | - | -1,221 | -2,426 | -2,991 | -2,594 | 2,270 |
Loss on conversion of convertible promissory note | |||||||||||
- | - | - | - | - | - | - | - | 0 | 0 | - | - |
Impairment loss on equity investments | |||||||||||
- | - | - | - | - | - | - | - | - | - | 5,848 | 4,056 |
Net gain from sale of investments | |||||||||||
- | - | - | - | - | - | - | - | - | 902 | 1,585 | 0 |
Deferred income taxes | |||||||||||
-82,760 | -68,378 | 44,464 | -228,054 | -76,827 | -25,617 | -8,905 | -9,921 | 4,363 | -230,577 | 0 | 0 |
Excess tax benefit from stock option exercises | |||||||||||
- | - | - | - | - | - | 733 | 473 | 415 | 541 | 113 | 960 |
Unrealized foreign exchange (gain) loss | |||||||||||
-1,025 | 17,766 | -6,258 | 14,481 | 19,575 | 832 | 658 | 6,529 | -7,174 | 4,220 | -602 | 228 |
Non-cash changes in the fair value of contingent consideration | |||||||||||
5,205 | 9,296 | 10,342 | -57,161 | -28,457 | 11,567 | 10,197 | 8,788 | -1,795 | -3,989 | 0 | 0 |
Debt conversion expense | |||||||||||
- | - | - | - | - | - | 12,965 | - | 1,896 | 13,728 | 0 | 0 |
Other | |||||||||||
1,679 | 2,347 | -5,935 | -336 | -2,463 | -5,188 | -1,149 | 2,000 | - | - | - | - |
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable, net | |||||||||||
37,852 | 54,274 | 25,256 | 51,483 | 16,367 | 25,951 | 8,740 | 4,227 | 18,456 | 13,036 | 19,242 | 37,322 |
Inventory | |||||||||||
107,554 | 23,747 | 96,890 | 64,512 | 50,989 | 22,339 | 21,102 | -1,423 | 20,420 | 31,036 | 5,500 | 13,938 |
Other current assets | |||||||||||
27,008 | 17,767 | 20,687 | -19,316 | -25,800 | 2,211 | 12,073 | 3,506 | -2,543 | -3,239 | -37,415 | 41,143 |
Other assets | |||||||||||
8,895 | 935 | 2,439 | 4,979 | 3,157 | 6,516 | -3,952 | 4,076 | 837 | 5,326 | 1,286 | -925 |
Accounts payable and accrued liabilities | |||||||||||
77,089 | 38,389 | 45,517 | -53,205 | 90,298 | 38,040 | 20,304 | 37,411 | 9,771 | 2,166 | 7,800 | 7,433 |
Other long-term liabilities | |||||||||||
3,128 | 8,914 | 5,792 | -5,413 | 747 | 3,093 | 9,559 | 6,034 | 1,962 | 1,900 | 687 | 78 |
Deferred revenue | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -5,020 |
Net cash used in operating activities | |||||||||||
48,262 | 20,208 | -8,757 | -227,837 | -219,499 | -70,422 | -57,335 | 17,609 | 18,415 | 18,746 | 87,732 | -9,175 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||
Purchases of property, plant and equipment | |||||||||||
145,026 | 144,620 | 199,219 | 148,380 | 227,653 | 117,062 | 65,193 | 44,571 | 73,219 | 49,461 | 89,801 | 56,368 |
Deposit on purchase of PKU rights | |||||||||||
- | - | - | - | 371,756 | 0 | - | - | - | - | - | - |
Funds held in escrow for the purchase of real property | |||||||||||
- | - | - | - | - | - | 116,500 | - | 0 | - | - | - |
Maturities and sales of investments | |||||||||||
740,211 | 993,734 | 425,960 | 367,569 | 424,713 | 808,313 | 288,643 | 237,837 | 281,991 | 206,361 | 475,312 | 761,178 |
Purchases of available-for-sale securities | |||||||||||
632,023 | 634,753 | 655,447 | 699,749 | 873,184 | 507,036 | 395,042 | 382,168 | 215,429 | 221,659 | 445,549 | 733,131 |
Proceeds from sale of intangible asset | |||||||||||
25,000 | 50,000 | 125,000 | 0 | 410,000 | 67,500 | - | - | - | - | - | - |
Purchase of intangible assets | |||||||||||
18,380 | 0 | 0 | - | - | - | - | - | 81,000 | 0 | 0 | - |
Business acquisitions, net of cash acquired | |||||||||||
- | - | - | 2,789 | 538,392 | 0 | 9,875 | - | 0 | 32,950 | 17,517 | 0 |
Investments in BioMarin/Genzyme LLC | |||||||||||
- | - | - | - | - | - | - | 1,743 | 1,903 | 3,633 | 2,120 | 1,750 |
Investment in convertible promissory note | |||||||||||
- | - | - | - | - | 52,288 | - | 5,000 | 0 | 0 | - | - |
Other | |||||||||||
808 | 10 | 1,753 | 698 | 3,326 | 3,100 | 885 | - | - | - | - | - |
Distributions from BioMarin/Genzyme LLC | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 16,683 |
Investment in equity securities | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 5,689 |
Net cash provided by (used in) investing activities | |||||||||||
-31,026 | 264,351 | -305,459 | -484,047 | -1,179,598 | 196,327 | -298,852 | -195,645 | -89,560 | -101,342 | -79,675 | -19,077 |
Proceeds from exercises of awards under equity incentive plans | |||||||||||
31,611 | 67,488 | 60,859 | 74,227 | 63,045 | 79,904 | 72,579 | 83,061 | 33,592 | 33,103 | 10,886 | 28,443 |
Taxes paid related to net share settlement of equity awards | |||||||||||
42,680 | 35,919 | 33,507 | 59,469 | 22,989 | 7,768 | 6,397 | 1,659 | - | - | - | - |
Purchase of capped call share options | |||||||||||
- | - | - | - | - | - | 29,813 | - | 0 | - | - | - |
Proceeds from public offering of common stock, net | |||||||||||
- | - | - | 712,938 | 888,257 | 117,464 | - | 235,499 | 0 | 0 | - | - |
Proceeds from convertible senior subordinated note offering, net | |||||||||||
0 | 0 | 481,713 | 0 | 0 | - | 726,202 | - | 0 | - | - | - |
Repayments of convertible debt | |||||||||||
0 | 374,953 | 26 | 0 | - | - | 12,965 | - | 1,896 | 14,084 | 0 | 0 |
Payment of contingent consideration | |||||||||||
58,518 | 44,623 | 1,894 | 0 | 0 | 4,691 | 3,061 | 4,405 | 1,894 | 15,861 | 1,000 | 0 |
Excess tax benefit from stock option exercises | |||||||||||
- | - | - | - | - | - | 733 | 473 | 415 | 541 | 113 | 960 |
Principal repayments of financing leases | |||||||||||
-5,087 | 0 | 0 | -588 | -2,590 | -711 | -607 | -678 | - | - | - | - |
Payment on maturity of 2013 convertible note | |||||||||||
- | - | - | - | - | - | - | - | 0 | - | - | - |
Repayment of acquisition obligation | |||||||||||
- | - | - | - | - | - | - | - | - | - | 73,600 | 6,500 |
Repayment of capital lease obligations | |||||||||||
- | - | - | - | - | - | - | - | 879 | 195 | 185 | 94 |
Net cash used in financing activities | |||||||||||
-74,674 | -388,007 | 507,145 | 727,108 | 925,723 | 184,198 | 746,671 | 312,291 | 29,338 | 3,504 | -63,786 | 22,809 |
Effect of exchange rate changes on cash | |||||||||||
902 | -598 | -3,231 | -3,934 | -5,072 | -3,398 | -2,230 | - | - | - | - | - |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |||||||||||
-56,536 | -104,046 | 189,698 | 11,290 | -478,446 | 306,705 | 388,254 | 134,255 | -41,807 | -79,092 | -55,729 | -5,443 |
SUPPLEMENTAL CASH FLOW DISCLOSURES: | |||||||||||
Cash paid for income taxes | |||||||||||
9,726 | 16,676 | 23,895 | 95,857 | 16,084 | 34,986 | 14,897 | 6,582 | 4,395 | 3,581 | 2,824 | 1,277 |
Cash paid for interest | |||||||||||
8,552 | 11,623 | 8,544 | 8,643 | 9,307 | 9,324 | 2,159 | 6,665 | 7,215 | 10,077 | 9,700 | 10,401 |
Stock-based compensation capitalized into inventory | |||||||||||
- | - | - | - | 11,140 | 8,166 | 6,121 | 4,347 | 5,298 | 5,139 | 5,423 | 4,612 |
Depreciation capitalized into inventory | |||||||||||
- | - | - | - | 14,627 | 10,952 | 11,016 | 7,335 | 6,576 | 5,088 | 4,432 | 2,782 |
SUPPLEMENTAL CASH FLOW DISCLOSURES FOR NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||||||||||
Decrease in accounts payable and accrued liabilities related to fixed assets | |||||||||||
7,589 | -1,206 | -25,786 | 20,158 | -4,651 | 16,766 | 5,001 | -511 | 320 | 4,957 | 185 | 4,462 |
Conversion of convertible debt, net | |||||||||||
0 | 0 | 22,477 | 8,928 | 9,112 | 21,324 | 283,319 | 105 | 29,192 | 119,562 | 0 | 292 |
Deferred offering costs reclassified into additional paid-in-capital as a result of conversion of convertible debt | |||||||||||
- | - | - | - | - | - | - | - | 210 | 1,320 | 0 | 9 |
Common stock transferred into the Nonqualified Deferred Compensation Plan | |||||||||||
- | - | - | - | - | - | - | - | - | 250 | 833 | -882 |
Distribution of inventory from the joint venture restructure | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 26,780 |
Equipment acquired through capital leases | |||||||||||
- | - | - | - | - | - | - | - | - | 1,313 | 0 | 546 |
Increase in asset retirement obligation | |||||||||||
- | - | - | - | - | - | - | - | 2,991 | 0 | 0 | - |