Innoviva, inc. (INVA)
CashFlow / TTM
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
Cash flows from operating activities
Net income

229,926

190,993

402,346

405,462

416,017

406,328

195,627

169,227

147,757

134,272

101,229

92,495

71,946

59,536

38,366

18,749

-3,658

-18,760

-38,987

-55,674

-111,428

-168,464

-202,467

-228,179

-201,044

-170,701

-152,096

-139,805

-140,496

-18,542

-24,225

-20,158

-8,083

-115,344

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes

49,299

41,875

-166,555

-177,114

-187,546

-196,054

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

13,798

13,874

13,868

14,016

13,943

13,872

13,899

13,927

13,954

13,982

13,983

13,978

13,967

13,954

13,942

13,934

13,933

13,933

13,904

12,951

13,020

12,175

10,219

7,612

4,198

3,458

-252

1,715

3,239

3,251

7,586

7,748

7,843

7,583

0

0

0

Stock-based compensation

1,886

2,056

2,054

691

1,669

3,233

5,174

8,520

9,495

9,833

9,280

8,526

8,940

8,297

8,073

7,823

6,804

6,873

6,600

9,864

15,788

27,390

31,996

33,711

33,127

25,687

25,443

24,826

23,643

23,783

24,254

25,996

25,610

24,916

0

0

0

Amortization of debt discount and issuance costs

7,942

7,799

7,642

7,540

7,545

7,748

8,058

7,743

6,521

5,116

3,662

2,834

2,835

2,847

2,785

2,830

2,878

2,943

3,154

3,935

3,172

2,408

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-5,745

-5,745

-9,563

-10,393

-7,256

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of discount on short-term investments

2,145

2,229

1,771

1,220

512

256

323

271

222

105

0

0

0

-

-

-961

-813

-583

-3,807

-2,762

-2,271

-1,742

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of lease guarantee

325

325

325

325

325

325

325

649

487

325

541

56

109

190

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in fair values of equity investments

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest added to the principal balance of non-recourse notes due 2029

-

-

-

-

-

-

-

-

-

-

-

-

-

855

5,041

10,654

16,891

22,635

38,976

33,363

26,954

20,527

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash items

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

2

2

2

2

2

-18

-16

-17

0

0

0

-

-

-

-

-

-

-

-

Realized gain on sale of marketable securities, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,220

1,204

1,204

1,204

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of capped-call derivative assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,422

0

0

0

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-74

-776

-776

-524

-702

0

0

0

-

-

-

-

-

-

-

-

Receivables from collaborative arrangements

23,495

-3,859

4,075

-2,979

2,804

12,746

13,258

8,746

12,108

23,693

15,257

25,979

16,188

20,619

19,674

21,820

17,300

15,678

12,935

10,524

9,376

7,371

1,525

1,242

-1,352

2,117

2,418

2,139

2,154

841

-10

-153

137

29

0

0

0

Forgiveness of notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Prepaid expenses and other current assets

120

113

-130

-117

-248

95

74

-66

70

-12

-95

-96

-95

-48

-81

41

-38

-320

-233

-276

-1,915

338

-19

498

872

-36

229

211

1,290

441

-58

-698

-1,840

-2,288

0

0

0

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,549

17

989

1,576

578

0

0

0

-

-

-

-

-

-

-

-

Accounts payable

-22

-1

-74

1,081

78

-590

-520

-219

-2,238

473

101

140

1,728

-690

374

-325

-449

818

-419

-1,401

-5,496

-7,695

-7,549

-5,245

660

1,613

1,012

-373

-1,749

-1,480

1,412

2,416

3,160

3,310

0

0

0

Payable to Theravance Biopharma, Inc., net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,056

-806

-15,084

-16,846

-15,916

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Accrued personnel-related expenses and other accrued liabilities

-731

-439

-875

205

191

-1,677

-170

-1,862

-2,535

-81

-550

1,145

1,653

276

346

357

166

-725

-1,413

-4,074

-6,455

-491

1,449

4,783

13,474

5,850

6,545

7,068

358

-1,829

1,901

2,656

5,792

5,124

0

0

0

Accrued interest payable

-107

-112

-2

-853

-770

-1,656

-1,791

-1,988

-3,855

-1,908

-3,040

-720

-162

-83

216

-102

367

360

-13,077

-3,088

1,868

4,751

15,996

11,181

1,781

428

0

0

0

-

-

-

-

-

-

-

-

Operating lease liability

0

-

-

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term liabilities

-

-

-

-

-

4

7

10

13

16

19

96

15

8

0

-82

7

-7

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-

-

-

-

-

-

-

-

-

-3,099

-884

-884

-885

-885

-884

-885

-884

-885

-935

-984

-3,095

-3,181

-3,368

-3,525

-2,019

3,235

3,564

2,543

1,939

-130,107

-134,587

-135,762

-140,033

-18,633

0

0

0

Inventories

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,908

2,096

2,475

1,049

3,100

0

0

0

-

-

-

-

-

-

-

-

Accrued interest on convertible subordinated notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

617

779

806

747

453

-153

-1,510

-2,429

0

0

0

Net cash provided by operating activities

254,284

257,458

252,330

255,043

250,272

223,531

209,613

192,988

163,902

141,749

114,976

91,674

81,495

60,984

46,815

29,283

18,997

10,131

-1,396

-25,123

-81,702

-130,723

-166,087

-186,327

-148,608

-129,602

-113,880

-100,134

-117,816

-127,513

-128,617

-120,384

-103,775

-88,338

0

0

0

Cash flows from investing activities
Capitalized fees paid to a related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

135,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Maturities of marketable securities

240,049

213,924

164,925

78,375

71,375

75,375

71,375

62,875

49,875

44,387

80,708

80,708

87,138

88,422

100,411

122,602

140,217

137,621

136,004

157,306

242,035

339,359

393,131

390,051

323,507

255,861

341,628

177,964

234,497

224,902

105,745

265,921

205,384

231,476

0

0

0

Purchases of marketable securities

142,816

231,915

280,516

164,507

168,536

71,856

48,142

74,938

68,993

67,623

54,716

47,795

83,733

95,719

82,746

137,959

94,044

86,523

134,538

142,510

228,722

276,914

284,723

341,471

362,931

410,407

408,642

356,825

398,938

330,484

346,704

310,697

260,826

301,563

0

0

0

Sales of marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

108,077

59,309

59,309

59,309

7,211

5,000

10,000

22,600

22,600

0

0

0

-

-

-

-

17,321

0

0

0

Purchases of equity investments

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of property and equipment

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

7

139

139

-925

689

1,623

1,859

3,614

2,734

1,928

2,259

2,227

2,590

3,234

2,627

3,350

3,628

0

0

0

Issuances of notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

140

0

0

0

Payments for intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Payments received on notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

100

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

72,208

-18,003

-115,591

-86,132

-97,161

3,519

23,233

-12,063

-19,118

-23,236

25,964

32,643

6,122

-4,580

71,388

38,608

97,151

159,168

51,469

39,799

-5,480

-65,060

-58,075

-98,139

-160,438

-219,580

-218,008

-152,111

-111,679

-58,283

-53,882

-30,067

-46,196

-55,819

0

0

0

Cash flows from financing activities
Repurchase of shares to satisfy tax withholding

79

89

72

307

527

3,073

4,027

4,121

4,186

2,128

1,378

1,329

1,190

1,079

955

668

1,973

2,192

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of principal on senior secured term loans

-

-

-

-

-

230,000

236,250

126,250

126,250

6,250

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of cash dividends to stockholders

3

11

19

36

50

80

207

229

252

281

211

224

308

960

1,082

30,129

59,256

87,331

115,794

115,033

85,782

56,988

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of capped-call options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

36,800

0

0

0

-

-

-

-

-

-

-

-

Proceeds from issuance of notes payable, net of debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

281,622

0

0

0

-

-

-

-

-

-

-

-

Payments on note payable and capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

69

109

162

200

206

0

0

0

Proceeds from issuances of common stock, net

533

627

1,303

1,214

1,344

1,139

701

704

541

435

232

235

220

385

464

3,943

6,666

8,240

27,077

35,435

38,064

54,589

48,647

150,374

168,302

153,021

147,164

46,010

236,836

236,377

232,107

221,051

16,607

25,808

0

0

0

Payments of principal on non-recourse notes due 2029

-

-

-

-

-

-

-

-

-

487,189

490,740

71,259

14,580

6,828

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

78,094

91,201

69,967

50,993

25,636

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions to noncontrolling interest

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

-39,662

-23,776

-12,408

-114,185

-115,098

-237,969

-322,648

-221,333

-277,454

-163,193

-95,717

-109,628

-79,587

-97,568

-103,755

-104,525

-105,556

-106,919

-90,902

-73,149

103,093

149,073

171,845

293,275

168,251

397,843

391,545

290,392

481,255

235,867

231,998

220,889

16,407

25,602

0

0

0

Net increase in cash and cash equivalents

286,830

215,679

124,331

54,726

38,013

-10,919

-89,802

-40,408

-132,670

-44,680

45,223

14,689

8,030

-41,164

14,448

-36,634

10,592

62,380

-40,829

-58,473

15,911

-46,710

-52,317

8,809

-140,795

48,661

59,657

38,147

251,760

50,071

49,499

70,438

-133,564

-118,555

0

0

0

Supplemental disclosure of cash flow information
Cash paid for interest

10,723

10,974

10,913

12,409

14,138

17,861

21,419

26,956

35,772

40,353

47,624

48,975

49,195

48,797

44,423

39,041

32,117

25,863

22,268

17,107

13,023

9,208

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-