| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||||
Net income (loss) | ||||||||||
523,367 | 447,098 | 487,848 | 396,831 | 329,534 | 57,326 | 216,312 | 288,586 | 124,984 | 32,778 | -6,836 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||||
Intangible asset amortization | ||||||||||
354,814 | 201,498 | 152,065 | 101,994 | 98,162 | 126,584 | 79,042 | 72,922 | 7,448 | 7,825 | 7,668 |
Share-based compensation | ||||||||||
110,563 | 102,441 | 106,900 | 98,771 | 91,550 | 69,638 | 44,551 | 23,006 | 20,704 | 8,219 | 5,957 |
Impairment charge | ||||||||||
0 | 42,896 | 0 | 0 | 31,523 | 39,365 | 0 | 0 | - | - | - |
Depreciation | ||||||||||
15,342 | 15,233 | 13,089 | 11,786 | 9,894 | 7,097 | 3,048 | 1,307 | 379 | 886 | 1,429 |
Acquired in-process research and development | ||||||||||
109,975 | 0 | 85,000 | 23,750 | 0 | 202,626 | 4,988 | 0 | - | - | - |
Loss on disposal of assets | ||||||||||
-21 | -655 | -473 | -47 | -172 | -24 | -46 | -163 | -33 | -279 | -14 |
Acquisition accounting inventory fair value step-up adjustments | ||||||||||
- | - | - | - | - | 10,477 | 3,826 | 19,939 | 0 | 0 | - |
Excess tax benefit from share-based compensation | ||||||||||
- | - | - | - | - | - | 0 | 9,785 | 0 | 0 | - |
Change in fair value of contingent consideration | ||||||||||
- | - | - | - | - | - | -15,200 | 300 | 0 | 0 | - |
Deferred tax benefit | ||||||||||
-236,610 | -88,815 | -225,591 | -41,163 | -68,358 | -49,254 | -10,097 | -113,862 | 0 | 0 | - |
Gain on sale of business | ||||||||||
- | - | - | - | - | - | - | 35,244 | 0 | 0 | - |
Provision for losses on accounts receivable and inventory | ||||||||||
6,668 | 4,728 | 2,190 | 2,209 | 4,062 | 2,493 | 2,446 | 4,654 | 59 | -105 | - |
Loss on extinguishment and modification of debt | ||||||||||
0 | -1,425 | 0 | -638 | -16,815 | 0 | -3,749 | 0 | -1,247 | -12,287 | - |
Amortization of debt discount and deferred financing costs | ||||||||||
46,396 | 43,960 | 30,026 | 22,133 | 22,738 | 13,725 | 4,591 | - | - | 2,406 | 2,810 |
Other non-cash transactions | ||||||||||
4,051 | -4,499 | -14,321 | 3,741 | 5,187 | 11,986 | -1,687 | -3,523 | -394 | - | - |
Changes in assets and liabilities: | ||||||||||
Accounts receivable | ||||||||||
92,326 | 40,132 | -12,278 | 25,603 | 24,841 | 55,041 | 48,846 | 4,724 | 12,293 | 9,768 | 5,670 |
Inventories | ||||||||||
32,790 | 18,512 | 8,667 | 17,024 | -6,271 | 7,630 | 8,516 | -1,697 | -1,239 | 1,539 | -883 |
Prepaid expenses and other current assets | ||||||||||
25,650 | -6,697 | 26,874 | 15,700 | -3,720 | -11,936 | 13,871 | 13,091 | 934 | -426 | -2,610 |
Other non-current assets | ||||||||||
14,830 | 320 | -119 | -267 | 4,573 | 3,060 | 4,306 | 3,491 | -186 | 0 | 1,748 |
Operating lease assets | ||||||||||
-14,148 | - | - | - | - | - | - | - | - | - | - |
Accounts payable | ||||||||||
4,770 | 17,040 | 214 | 361 | -2,280 | -37,966 | 5,089 | -7,286 | 2,080 | 891 | -3,578 |
Accrued liabilities | ||||||||||
-5,565 | 71,208 | -6,578 | 11,989 | 2,986 | 20,997 | 14,717 | -11,428 | 11,211 | 9,276 | -6,676 |
Income taxes payable | ||||||||||
10,056 | -19,735 | 16,331 | 2,962 | -6,271 | 8,634 | -38,984 | 39,340 | 0 | 0 | - |
Deferred revenue | ||||||||||
-5,414 | -7,497 | 21,009 | -1,315 | -536 | -1,203 | -1,061 | -1,205 | -1,273 | -2,540 | -10,786 |
Contingent consideration | ||||||||||
- | - | - | - | - | -14,900 | 0 | 0 | - | - | - |
Other non-current liabilities | ||||||||||
3,561 | 14,537 | 18,934 | 23,199 | 26,562 | 17,724 | 14,820 | 2,351 | -82 | 53 | - |
Operating lease liabilities, less current portion | ||||||||||
-6,044 | - | - | - | - | - | - | - | - | - | - |
Liability under government settlement | ||||||||||
- | - | - | - | - | - | - | -7,320 | -3,786 | -2,506 | -1,984 |
Deferred rent | ||||||||||
- | - | - | - | - | - | - | - | - | - | 29 |
Net cash provided by operating activities | ||||||||||
776,401 | 798,904 | 693,087 | 592,391 | 531,943 | 407,606 | 288,431 | 249,752 | 151,596 | 58,868 | -15,878 |
Investing activities | ||||||||||
Proceeds from maturity of investments | ||||||||||
985,000 | 855,000 | 230,000 | 66,906 | 0 | - | - | - | - | - | - |
Purchases of property, plant and equipment | ||||||||||
40,135 | 20,370 | 28,950 | 9,687 | 35,958 | 36,347 | 9,976 | 5,976 | 1,279 | 731 | 53 |
Acquired in-process research and development | ||||||||||
61,700 | 0 | 85,000 | 23,750 | 0 | 202,626 | 4,988 | 0 | - | - | - |
Asset acquisition, net of cash acquired | ||||||||||
55,074 | 0 | 0 | 1,502,443 | 0 | 828,676 | 0 | 542,531 | 0 | 0 | - |
Proceeds from sale of marketable securities | ||||||||||
- | - | - | - | - | - | - | 81,246 | 0 | 0 | - |
Proceeds from maturities of marketable securities | ||||||||||
- | - | - | - | - | - | - | 31,988 | 4,033 | 0 | 1,004 |
Acquisition of intangible assets | ||||||||||
80,500 | 111,100 | 0 | 150,000 | 0 | 0 | 1,300 | 0 | 0 | 4,000 | 6,000 |
Acquisition of investments | ||||||||||
917,100 | 1,165,915 | 385,000 | 132,181 | 0 | 0 | - | - | - | - | - |
Net proceeds from sale of assets | ||||||||||
14,209 | 47,898 | 0 | 0 | 33,703 | 0 | 0 | 93,922 | 0 | 0 | - |
Purchases of marketable securities | ||||||||||
- | - | - | - | - | - | - | 37,443 | 79,886 | 0 | - |
Purchase of product rights | ||||||||||
- | - | - | - | - | - | - | 16,500 | 4,500 | - | - |
Decrease in restricted cash | ||||||||||
- | - | - | - | - | - | - | - | -400 | -2,588 | 1,075 |
Net cash (used in) provided by investing activities | ||||||||||
-155,300 | -394,487 | -268,950 | -1,751,155 | -2,255 | -1,067,649 | -16,264 | -395,294 | -81,232 | -2,143 | -6,124 |
Financing activities | ||||||||||
Proceeds from employee equity incentive and purchase plans | ||||||||||
57,831 | 93,337 | 31,824 | 24,174 | 40,523 | 58,487 | 30,703 | 25,003 | 16,419 | 5,591 | 388 |
Payment of contingent consideration | ||||||||||
- | - | - | - | - | 35,100 | 0 | 0 | - | - | - |
Payment of employee withholding taxes related to share-based awards | ||||||||||
16,739 | 17,925 | 18,589 | 21,234 | 26,102 | 18,030 | 5,590 | 25,299 | 0 | 0 | - |
Repayments of long-term debt | ||||||||||
33,387 | 25,717 | 36,094 | 28,304 | 905,760 | 9,524 | 465,910 | 11,875 | 41,668 | 127,828 | - |
Share repurchases | ||||||||||
301,450 | 523,672 | 98,799 | 278,296 | 61,553 | 42,215 | 136,484 | 0 | 0 | - | - |
Payment of debt modification costs | ||||||||||
0 | 6,406 | 0 | 0 | - | - | - | - | - | - | - |
Repayments of Lines of Credit | ||||||||||
0 | 0 | 850,000 | 150,000 | 160,000 | 300,000 | 0 | 0 | -7,350 | -2,049 | 5,524 |
Proceeds from tenant improvement allowance on build-to-suit lease | ||||||||||
0 | -1,253 | -3,154 | 0 | 0 | - | - | - | - | - | - |
Net proceeds from issuance of debt | ||||||||||
0 | 0 | 559,393 | 994,647 | 898,642 | 1,194,385 | 553,425 | 450,916 | 0 | 48,427 | - |
Excess tax benefit from share-based compensation | ||||||||||
- | - | - | - | - | - | 0 | 9,785 | 0 | 0 | - |
Acquisition of noncontrolling interests | ||||||||||
- | - | - | - | 73 | 136,969 | 0 | 0 | - | - | - |
Payments of debt extinguishment costs | ||||||||||
- | - | - | - | - | - | - | - | 483 | 8,484 | - |
Proceeds from offerings of common stock, net of issuance costs | ||||||||||
- | - | - | - | - | - | - | - | - | 56,817 | 6,782 |
Net cash used in financing activities | ||||||||||
-293,745 | -479,130 | -409,111 | 540,987 | -214,323 | 711,034 | -23,856 | 448,530 | -33,082 | -27,526 | 12,694 |
Effect of exchange rates on cash and cash equivalents | ||||||||||
366 | -1,700 | 5,046 | -5,045 | -10,622 | -3,453 | 997 | 2,132 | 0 | 0 | - |
Net increase in cash and cash equivalents | ||||||||||
327,722 | -76,413 | 20,072 | -622,822 | 304,743 | 47,538 | 249,308 | 305,120 | 37,282 | 29,199 | -9,308 |
Supplemental disclosure of cash flow information: | ||||||||||
Cash paid for interest | ||||||||||
43,002 | 42,706 | 44,609 | 39,898 | 40,099 | 31,978 | 18,278 | 14,192 | 1,621 | 10,234 | 24,488 |
Cash paid for income taxes | ||||||||||
183,610 | 164,217 | 174,124 | 160,306 | 145,597 | 108,189 | 137,616 | 9,143 | 0 | 0 | - |
Non-cash investing activities: | ||||||||||
Amounts capitalized in connection with facility lease obligations | ||||||||||
0 | 27,747 | 40,970 | 23,799 | 4,351 | 0 | 0 | - | - | - | - |
Acquisition consideration for Azur Merger | ||||||||||
- | - | - | - | - | - | - | 576,464 | 0 | - | - |
Liability for purchase of product rights | ||||||||||
- | - | - | - | - | - | - | - | - | - | 5,000 |
Warrants to purchase common stock | ||||||||||
- | - | - | - | - | - | - | - | - | - | 2,700 |
Modification to warrants to purchase common stock issued in conjunction with long-term debt | ||||||||||
- | - | - | - | - | - | - | - | - | - | 1,254 |