Exelixis, inc. (EXEL)
CashFlow / Quarterly
Apr'20Jan'20Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Jan'16Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income

48,612

68,743

97,452

79,042

75,775

360,089

126,630

87,494

115,857

38,489

81,382

17,656

16,700

35,123

-11,284

-34,838

-59,223

-41,568

-41,644

-43,362

-35,170

-50,708

-62,560

-73,410

-74,619

-70,746

-67,124

-62,161

-44,729

-52,193

-32,814

-36,487

-26,151

46,296

77,865

-20,974

-27,490

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation

2,175

2,260

2,090

2,036

1,962

2,039

1,700

805

371

345

279

282

281

248

298

227

229

343

379

387

297

-623

1,921

595

498

765

754

786

842

1,442

1,431

1,407

1,233

1,787

1,106

2,000

1,929

Stock-based compensation

13,982

15,855

13,139

15,079

12,529

12,296

9,742

9,283

9,305

8,909

5,289

5,027

4,713

4,566

3,603

3,558

11,185

6,557

12,026

1,734

1,660

1,552

714

3,982

3,758

3,528

2,898

2,926

2,679

2,611

1,900

1,990

2,332

2,690

2,974

2,832

3,603

Non-cash lease expense

1,174

-

-

-

440

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred taxes

10,128

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

401(k) matching contributions made in common stock

-

-

-

-

-

-

509

843

1,880

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization and other right-of-use assets

-

-

-

-

-

-

2,732

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of debt discounts and debt issuance costs

-

-

-

-

-

-

-

-

-

-

0

93

89

137

1,884

3,250

3,161

2,767

-617

7,216

7,675

463

7,510

7,328

6,988

6,845

6,652

6,479

6,314

6,128

4,147

2,284

2,193

13,889

-2,084

-1,938

-1,878

Restructuring charge for property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

38

16

-195

118

-131

388

122

Interest paid in kind

-

-

-

-

-

-

-

-

-

-

0

-13,893

2,068

2,069

2,031

1,972

1,936

1,927

1,890

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on other equity investments

-

-

-

-

-

-

0

0

209

-

2,341

639

0

-

-

-

-

17

0

0

95

0

838

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Changes in warrant fair value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

0

0

549

76

-62

-115

-1,739

0

0

0

0

-

-

-

-

-

-

-

-

Other, net

888

-4,058

1,051

3,973

-1,054

-2,552

933

332

158

6,952

-9

532

-680

770

-411

-481

-440

-523

-245

-456

-637

-559

-987

-1,140

-1,475

-1,544

-1,601

-1,909

-1,733

-589

-1,084

-1,062

-1,304

-1,164

-1,855

-1,304

-478

Changes in operating assets and liabilities:
Trade receivables, net

18,270

-50,733

72,247

-10,129

-55,101

72,764

-63,991

65,879

10,819

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Trade and other receivables

-

-

-

-

-

-

-6,333

9,335

-64

-

46,660

9,122

-6,541

-88,388

73,476

6,594

4,956

1,574

-288

546

-1,292

160

-312

577

516

-1,230

962

344

1,114

44

424

364

-27,870

25,536

-1,709

592

-125

Inventory

4,695

2,203

1,014

2,209

305

-595

2,062

808

906

851

381

2,121

-34

46

484

336

-144

494

-486

15

212

-1,495

850

340

-204

1,126

1,083

401

280

0

0

0

0

-

-

-

-

Current portion of unbilled collaboration revenue

-

-

-

-

-

-

32,673

-38,014

38,014

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other assets

2,863

6,250

1,643

-13,335

11,165

4,996

1,952

3,477

-1,900

-2,152

3,579

-1,930

881

-1,732

2,491

-134

985

-1,615

2,691

-2,482

1,731

-4,360

3,060

-590

364

-2,529

1,719

-4,981

4,757

-128

1,638

-14

268

-12,075

2,007

-1,764

1,279

Accrued compensation and benefits

-

-

-

-

-

-

5,745

782

-317

-

4,359

1,065

-5,844

4,348

5,679

4,265

2,413

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued clinical trial liabilities

-

-

-

-

-

-

2,157

1,450

-4,498

-

1,501

202

347

-756

-794

-454

-1,936

-11,717

-2,784

1,596

-10,569

-3,557

3,735

2,249

4,160

-84

5,636

9,549

-703

-

-

-

-

-

-

-

-

Rebates and fees due customers

-

-

-

-

-

-

546

-846

4,424

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable, accrued compensation and benefits, and other accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,730

-181

-6,382

-

-6,695

5,349

-10,254

9,343

-1,031

5,148

-4,769

3,841

3,366

678

-2,736

-12,576

-2,411

-4,165

4,351

Accrued collaboration liabilities

-

-

-

-

-

-

684

-261

-1,000

-

1,218

5,873

0

-18,710

1,717

2,319

3,736

1,806

1,432

4,002

2,966

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

8,850

-12,893

-1,064

5,969

-1,313

1,819

-7,458

8,562

-2,652

-6,965

-7,449

-6,980

35,139

5,247

56,043

-3,333

198,802

1

0

-7

-2,576

1,264

192

-116

-207

433

-490

-7,704

-7,110

-7,814

-7,813

-7,813

-18,480

-69,366

-124,666

-25,099

-25,397

Other long-term assets

-

-

-

-

-

-

545

-349

346

-

-170

-538

19

-542

-436

142

-241

492

-1,630

-317

115

-

-

-

-

-

-

-

0

-17

1,759

108

116

296

-469

-118

-114

Accounts payable and other liabilities

-2,131

46,832

-2,731

-27,492

27,515

18,391

287

-1,352

-183

26,882

-1,049

2,388

-1,916

2,600

-1,470

-222

-744

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term portion of lease liabilities

-

-

-

-

-

-

-793

-146

-35

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restructuring liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-297

-3,024

-

298

-1,762

-1,241

-430

-1,971

-971

-2,378

8,733

-1,494

-130

-1,865

3,583

294

-2,702

-1,478

Other current and long-term liabilities

-

-

-

-

-

-

-9,784

9,319

-2,856

-

3,019

-3,469

10,926

-5,959

837

3,979

2,367

-9,135

-464

-615

-288

-4,539

-277

-250

-229

-1,160

-156

-231

-143

-1,512

210

-199

-87

-404

-198

-328

-232

Net cash provided by operating activities

56,074

158,021

75,614

131,728

161,593

104,591

164,856

74,465

71,808

53,353

37,865

5,535

68,858

85,109

-5,781

-25,734

156,810

-34,899

-34,233

-26,833

-45,086

-49,976

-58,006

-55,337

-72,086

-47,329

-56,995

-40,034

-54,415

-38,736

-34,053

-35,391

-14,966

-29,174

-43,267

-43,516

-43,276

Cash flows from investing activities:
Purchases of property, equipment and other

2,961

7,259

2,059

1,209

2,307

2,894

15,221

12,235

2,947

17,694

1,151

1,494

804

587

33

401

682

333

20

63

31

22

108

-40

384

92

677

673

729

1,189

1,019

437

72

279

144

163

405

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

5

-20

5

107

46

5

656

639

106

5

5

276

103

40

0

0

1,066

18

12

847

-

-

-

-

Purchases of investments

251,505

294,984

369,430

278,399

239,869

189,528

141,292

110,475

116,537

71,044

93,237

30,315

124,494

110,678

59,113

150,161

49,235

24,300

73,475

32,935

13,282

10,291

26,957

46,343

35,937

13,207

29,017

51,594

96,157

173,951

199,303

46,853

113,368

26,633

21,144

129,421

60,015

Proceeds from maturities and sales of investments

287,086

-

-

-

134,519

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of investments

-

-

-

-

-

-

91,256

52,444

87,504

-

65,442

78,386

122,507

50,850

42,295

28,232

30,108

48,595

35,903

40,028

54,410

40,385

31,248

90,947

90,311

73,701

41,581

52,793

157,096

74,442

95,219

80,789

60,315

7,556

50,837

39,689

26,718

Proceeds from sale of investments

-

-

-

-

-

-

1,698

3,999

6,238

-

0

0

37,294

0

2,249

0

17

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of restricted cash and investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,146

2,004

3,034

-1,568

1,500

2,684

-41

3,541

4,139

504

2,300

1

3,280

504

1,297

40,320

-636

504

-

-

-

-

Proceeds from sale of equity investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of restricted cash and investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-646

-2,004

-3,035

-4,507

-1,499

-10,748

43

-9,620

-4,179

-6,598

-1,300

-6,100

-3,221

-6,647

-1,300

-4,199

504

-504

-5,899

0

0

-2,200

Proceeds from other equity investments

-

-

-

-

-

-

0

0

209

-

2,341

639

0

-

-

-

-

0

0

0

95

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

32,620

-130,201

-206,460

-142,929

-107,657

-142,799

-63,251

-66,267

-25,533

-18,333

-26,591

47,216

34,503

-58,910

-12,128

-123,825

-19,685

24,009

-31,512

7,685

49,895

30,176

11,105

44,689

60,360

59,505

18,026

467

66,353

-99,629

-141,206

33,643

-52,278

37,375

32,559

-89,895

-31,502

Cash flows from financing activities:
Proceeds from issuance of common stock under equity incentive plans

3,938

-

-

-

6,817

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of common stock, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-3

0

0

75,646

0

0

0

0

0

138,443

46

64,990

-2

0

30

179,347

Proceeds from exercise of stock options

-

-

-

-

-

-

3,840

4,675

1,875

-

3,552

3,305

9,675

16,031

7,089

2,170

37

-

-

-

-

0

0

0

120

47

3

6

16

28

595

197

109

731

4,079

3,832

3,794

Taxes paid related to net share settlement of equity awards

1,793

6,535

935

854

1,580

4,369

229

847

2,129

3,551

681

788

1,543

1,395

654

145

1,914

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on financing lease obligation

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal repayments of debt

-

-

-

-

-

-

-

-

-

0

0

105,788

80,000

575

0

0

0

8,762

0

-4,164

-217

-376

-375

-479

-10,479

-796

-792

-791

-10,791

-788

-788

-1,648

-1,646

-1,631

-2,440

-798

-3,752

Other, net

0

-

-

-

-11

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by financing activities

2,145

-3,000

3,274

7,053

5,226

-1,144

3,611

7,478

-254

-713

2,871

-100,218

-71,868

15,768

-699

2,504

-1,877

6,882

149,438

-3,890

-217

130

-374

449

65,287

-214

-789

109

-10,775

-371

415,924

-578

63,453

-155

1,639

6,640

179,389

Net increase in cash, cash equivalents and restricted cash

90,839

24,820

-127,572

-4,148

59,162

-39,352

105,216

15,676

46,021

34,307

14,145

-47,467

31,493

41,967

-18,608

-147,055

135,248

-4,008

83,693

-23,038

4,592

-19,670

-47,275

-10,199

53,561

11,962

-39,758

-39,458

1,163

-138,736

240,665

-2,326

-3,791

8,046

-9,069

-126,771

104,611

Non-cash activities:
Right-of-use assets obtained in exchange for lease obligations

576

16,618

1,606

3,168

8,170

0

0

0

17,180

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unpaid liabilities incurred for purchases of property and equipment

481

-133

-1,191

1,209

141

-479

-12,691

7,364

6,608

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock in settlement of convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-