HORIZON THERAPEUTICS PUBLIC LIMITED COMPANY HZNP Cash Flow

Horizon therapeutics public limited company (HZNP)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss
-13,591	592,769	18,234	-5,120	-32,863	125,754	9,273	-24,751	-148,656	13,953	-63,972	-209,536	-90,570	-129,271	-5,870	14,984	-45,406	23,994	3,277	31,814	-19,553	-31,647	2,063	-27,769	-206,250	-102,901	-5,492	-18,441	-22,171	-24,333	-16,953	-22,782	-23,726	-76,727	-17,229	-11,638	-7,671
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization expense
65,741	59,821	59,319	59,126	58,891	43,063	82,229	62,032	62,435	42,932	70,141	71,531	71,483	67,200	51,940	51,883	50,642	44,318	43,282	32,408	18,335	16,347	6,826	5,433	5,403	3,472	1,983	1,933	1,922	1,890	1,508	1,064	1,076	1,128	1,028	1,027	1,016
Equity-settled share-based compensation
56,421	24,149	18,151	21,367	27,548	27,879	28,427	30,721	27,833	33,628	33,431	29,123	28,837	29,008	28,593	27,673	27,745	27,300	24,914	24,665	6,674	3,087	4,024	4,160	1,927	1,808	1,106	1,021	1,079	999	1,172	731	1,759	703	602	628	597
Amortization of debt discount and deferred financing costs
5,569	5,533	5,447	5,771	5,851	5,872	5,694	5,689	5,496	5,756	5,234	5,206	5,423	5,077	4,537	4,507	4,425	5,482	5,500	5,622	2,206	2,186	2,421	2,333	2,333	1,321	1,214	919	910	-	-	-	-	-	-	-	-
Non-cash interest expense and amortization of deferred charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	658	576	593	-	98	2,170	231
Paid-in-kind interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3	703	742	783	-	-	-	-	-	-	-	-
Loss on induced conversions of debt and debt extinguishment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-16,733	-4,848	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt extinguishment
-	0	-41,371	-11,878	-5,586	-	-	-	-	-445	0	0	-533	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign exchange loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-837	-	-2,754	-284	-38	539	1,118	454	-905	801	588	-1,401	501	-797	-758	110	422
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-102	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss (gain) on sale of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-8	-3	-65	-	-	-	-
Loss on derivative revaluation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	10,965	204,030	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
2,082	573,839	-9,559	2,759	-1,502	66,136	-3,398	3,433	-1,680	69,242	-16,497	31,791	47,695	30,403	29,796	2,705	2,657	46,535	-24,859	160,229	-1,356	4,238	3,046	-222	454	-	-	-	-	-	-	-	-	-	-	-	-
Royalty accretion
-	-	-	-	-	-	-	-	-	-	12,721	12,735	12,959	11,854	9,734	9,669	9,359	6,517	6,550	3,977	3,044	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of long-lived assets
-	-	-	-	-	-	-	0	33,647	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Royalty liability remeasurement
-	-	-	-	-	-	-	-	-	-	0	0	-2,944	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign exchange and other adjustments
190	-2	-79	-89	-404	-89	216	-579	120	-55	2,134	174	-787	-152	-109	14	-173	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable
16,869	11,996	1,625	-9,018	-60,769	73,757	-12,318	-678	-1,064	-17,168	4,345	2,890	94,377	-74,177	58,516	14,094	69,838	-10,604	38,203	43,724	53,443	-5,850	16,198	11,693	24,142	-720	9,331	-420	4,300	-2,513	5,351	-156	-1,595	2,159	253	-2,517	1,922
Inventories
14,444	-4,736	7,500	-343	847	-2,378	3,647	2,741	-14,290	-24,889	-15,746	-30,686	-37,050	-43,791	-10,065	-6,460	-7,317	603	-2,264	-7,467	-3,088	-7,044	-639	-219	729	1,800	1,067	1,425	-866	1,547	474	758	1,243	85	644	359	-165
Prepaid expenses and other current assets
24,953	708	54,359	17,807	-111	-10,213	13,788	11,933	9,805	-9,545	6,869	-4,879	2,445	7,401	4,212	16,384	242	-597	4,180	-38,904	34,307	7,117	-120	-2,007	4,218	1,739	-557	437	-379	-1,034	-54	49	1,582	1,191	1,361	-637	-18
Accounts payable
28,551	-5,385	-14,892	5,138	6,416	-34,712	33,711	-10,120	6,528	1,893	-48,237	-6,255	36,078	-17,630	7,417	-10,578	52,856	-46,575	36,609	1,622	-18	-1,172	4,575	5,628	352	4,859	-603	678	-1,026	-895	-1,059	-815	560	4,463	-1,276	1,162	1,294
Accrued trade discounts and rebates
-129,940	-	-	-	-50,904	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,188	-	16,644	12,326	17,143	-	-	-	-	-	-	-	-	-	-	-	-
Accrued expenses
-28,087	-	-	-	-21,336	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,022	-	823	-3,586	3,559	1,025	341	1,296	-1,682	-3,145	1,410	1,482	45	2,559	1,253	429	-1,026
Deferred revenues
-	0	-7,311	2,477	-67	-1,857	1,129	1,817	-1,484	698	3,386	1,002	-618	1,557	-25	80	-498	-450	-635	2,804	-26	-238	-686	250	112	-276	-95	-1,123	349	-882	525	2,227	746	1,328	920	-418	1,407
Deferred tax liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	215	-339	-864	-	-4,517	-172	-177	-15,211	-189	-193	-185
Other non-current assets and liabilities
-11,281	-4,087	2,347	-5,766	4,893	9,039	-587	1,361	627	-20,279	29,314	-14,489	-266	-6,108	5,827	-949	-3,225	-5,998	-1,932	-238	48	-498	-3	4	-139	-136	-121	-130	-81	-	-	-	-	-	-	-	-
Net cash (used in) provided by operating activities
-62,593	191,380	87,516	91,268	56,168	108,708	84,861	61,785	-60,811	143,260	68,349	47,925	24,806	139,185	128,787	47,303	54,181	134,938	88,383	41,584	-70,739	10,079	1,466	16,761	-757	-11,178	-9,441	-10,899	-22,769	-17,168	-22,826	-15,857	-20,790	-14,601	-16,293	-4,148	-6,498
Payment related to license agreement
-	-	-	-	-	0	0	0	12,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	834,516	0	5,591	514,814	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for acquisition
105,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property and equipment
119,004	6,532	4,467	5,009	1,849	3,890	119	97	665	308	1,401	1,204	1,423	1,109	1,840	5,251	7,525	2,642	2,233	704	1,577	1,663	800	543	494	555	298	120	225	324	-31	910	133	1,155	413	-5	41
Change in escrow deposit for property purchase
-6,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-218,204	-12,532	-4,467	991	-1,849	31,110	9,305	-97	-12,665	1,589	-2,369	-99,982	-1,423	-832,214	-3,942	-11,233	-523,257	39,139	-74,306	-958,442	-1,439	-46,663	-180,020	-543	-494	-35,492	-298	-120	-225	-324	-19	-910	-133	-1,455	-663	5	-41
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds (refunds) related to the ESPP plan
-	-	-	-	-	-	-	-	-	-	-	-	-173	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the issuance of ordinary shares in connection with warrant exercises
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,431	4,769	9,924	5,199	2,090	7,628	23,544	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the issuance of ordinary shares in conjunction with ESPP program
-	-	-	-	-	3,899	-23	4,720	14	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred financing expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,400	102	135
Proceeds from the issuance of ordinary shares in connection with stock option exercises
7,050	8,646	4,207	1,987	10,042	7,219	6,081	2,727	945	405	465	753	544	491	1,726	739	919	615	714	2,099	1,789	989	107	985	612	-	-	-	-	-	-	-	-	-	3	0	42
Payment of employee withholding taxes relating to share-based awards
46,664	2,109	5,086	7,203	17,171	1,573	3,697	5,668	3,517	893	438	925	4,277	230	575	549	4,185	690	378	741	1,215	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from private equity offerings, net of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	80,617	-106	47,581	-	-	-	-
Repayment of notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8	-34	0	19,814	320	382	11,107	1,258
Net proceeds from the issuance of ordinary shares
-	0	0	-957	327,750	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,102	391	918	1,000	260	0	-138	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from term loans
-	-	-	-	-	-	-	-	-	845,744	0	0	847,768	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of term loans
-	418,026	100,155	518,026	300,000	818,026	1	25,597	2,125	847,874	0	2,125	772,750	-	-	-	1,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of bridge notes payable to related parties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,736	5,030
Proceeds from the issuance of notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	55,578	-	-	-	-
Net cash (used in) provided by financing activities
-39,614	12,386	-63,815	-259,638	20,621	9,545	2,360	-23,818	-4,683	-19,392	1,805	751	71,112	658,764	151	2,425	-4,266	1,894	2,554	1,039,535	398,498	6,319	298,548	9,262	24,156	-	-	-	-	122	80,800	41	83,345	39	44,256	7,178	3,679
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash
-1,366	1,095	-1,260	576	-518	-692	315	-1,985	982	950	2,170	2,494	-298	-748	-218	177	-421	-641	598	169	-916	291	-64	-3	-11	39	59	18	-17	131	-89	-165	-37	986	-75	181	32
Net (decrease) increase in cash, cash equivalents and restricted cash
-321,777	192,329	17,974	-166,803	74,422	148,671	96,841	35,885	-77,177	126,407	69,955	-48,812	94,197	-35,013	124,778	38,672	-473,763	175,330	17,229	122,846	325,404	-29,974	119,930	25,477	22,894	21,830	-10,690	-11,736	-23,011	-17,239	57,866	-16,891	62,385	-15,031	27,225	3,216	-2,828
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest
26,636	6,177	22,351	33,674	15,842	45,350	11,602	40,140	15,376	39,412	15,982	37,714	20,682	21,275	9,751	20,257	9,534	20,604	9,662	4,444	7,311	-	-	-	-	3,056	1,783	1,858	1,876	1,792	1,830	800	3,132	725	742	593	697
Cash paid for income taxes, net of refunds received
266	891	1,390	6,788	856	12,649	13,087	28,236	-914	494	535	1,583	-64	3,801	479	15,691	2,368	-23	293	371	1,239	8	9	10	10	9	9	9	17	13	16	17	11	-	6	19	6
Cash paid for amounts included in the measurement of lease liabilities, net of lease incentive payments
1,812	1,959	1,619	1,295	1,611	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for debt extinguishment
-	-	-	-	-	-	-	-	-	-	0	0	145	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fees paid for debt commitments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	3,222	0	5,000	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for induced conversions and debt extinguishment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,370	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
SUPPLEMENTAL NON-CASH FLOW INFORMATION:
Purchases of property and equipment included in accounts payable and accrued expenses
539	-409	-1,415	-818	2,759	1,067	-73	99	8	-	-894	-301	1,240	-401	-1,088	-662	2,851	3,810	948	-851	1,033	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transaction costs related to issuance of ordinary shares included in accrued expenses
-	-	-	-	902	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of Convertible Senior Notes to ordinary shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	28,439	32,546	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Commitment fee paid on notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	600	-	-	35	135
Accrued Trade Discounts and Rebates [Member]
Accrued liabilities
-	-	-	-	-	-	-90,026	19,982	-72,120	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued Expenses [Member]
Accrued liabilities
-	-	-	-	-	-	-	-5,374	19,028	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-