Theravance biopharma, inc. (TBPH)
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'13
Operating activities
Net loss

-246,928

-236,455

-221,035

-222,037

-223,017

-215,524

-252,260

-259,704

-285,173

-285,405

-265,816

-232,900

-213,838

-190,669

-168,162

-181,516

-181,895

-182,219

-201,703

-208,883

-219,494

-237,038

-216,808

-203,391

-184,128

-156,284

0

0

0

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

7,549

6,441

5,962

5,222

4,790

4,481

3,987

3,868

3,725

3,801

4,184

4,025

3,503

3,119

2,641

2,570

2,863

2,989

3,073

3,428

3,367

3,274

3,187

2,669

2,682

2,653

0

0

0

Amortization and accretion income, net

3,358

3,451

3,027

2,575

1,837

1,315

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of premium on marketable securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Share-based compensation

63,506

60,450

48,252

46,979

49,535

51,313

57,392

56,331

52,874

49,145

41,392

40,602

40,108

41,169

42,640

44,995

49,754

54,050

56,959

54,059

46,159

43,234

33,973

30,217

29,661

22,476

0

0

0

Amortization of right-of-use assets

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventory write-down

-

-

-

-

-

-

-

-

-

-

-

-

-

303

2,136

2,136

2,027

2,096

0

0

0

-

-

0

0

-

-

-

-

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-75

95

522

673

282

0

0

0

-

-

-

-

Amounts due from TRC, LLC

14,628

23,152

13,588

18,114

10,888

5,152

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-139

-146

-173

-31

-370

43

55

273

440

-10

-179

-444

-235

-182

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-

-620

-2,938

-3,203

-1,860

-1,633

1,448

2,088

740

1,607

703

-510

-294

-1,276

90

1,051

962

1,633

256

715

562

90

76

90

3

199

0

0

0

Receivables from collaborative and licensing arrangements

7,590

11,943

688

-2,886

4,979

2,944

-7,640

-1,453

-4,794

-1,967

-11,166

-29,762

-29,897

-26,156

3,073

9,593

17,876

33,392

19,459

25,485

19,570

906

-1,791

-1,894

-1,873

-7

0

0

0

Receivable from Innoviva, Inc

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-9,522

50

126

232

12,764

0

0

0

-

-

-

-

-

-

-

-

Other prepaid and current assets

-3,093

634

2,588

1,844

2,957

2,400

3,519

2,383

1,830

1,489

-3,451

925

-6,523

-2,710

-2,262

-3,815

3,423

-963

125

3,121

1,731

2,878

2,911

1,059

537

-19

0

0

0

Inventories

-

-

-

-

-

1,629

4,890

7,155

7,812

7,301

4,307

3,836

3,176

3,182

926

-828

-1,205

-1,030

88

1,910

6,052

6,628

6,681

4,927

1,237

3,101

0

0

0

Tax receivable

-

-

-

-

-

-8,191

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

0

-

-

-

-

-

-

-

-

354

-3,540

655

-195

-184

3,862

-650

137

572

626

722

391

211

0

0

0

-

-

-

-

Accounts payable

320

-4,274

4,697

395

584

3,575

-1,409

-3,313

1,343

3,796

-58

-881

-4,982

-16,436

-632

1,730

4,698

8,717

920

-2,265

-420

3,917

-277

3,714

1,169

2,113

0

0

0

Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities

2,780

10,626

-7,879

-8,888

-9,984

-12,357

-1,468

-13,622

6,470

8,332

4,478

14,365

8,260

17,192

17,078

17,901

10,863

-1,039

-3,143

-6,265

933

11,680

5,963

7,488

12,427

4,170

0

0

0

Accrued interest payable

7,818

2,573

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent

-

-

-

-

-

-4,308

-3,750

-3,220

-2,098

298

871

919

775

632

587

526

595

552

324

94

-153

-376

-412

-291

-19

300

0

0

0

Deferred revenue

-32,544

-31,245

-31,703

-31,858

-31,480

69,224

79,263

88,258

95,371

17

-14

-442

-676

448

555

815

1,224

295

-661

-5,266

-7,367

-7,991

-6,843

-1,637

787

7,467

0

0

0

Operating lease liabilities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term liabilities

-4,677

-4,748

-10,199

-4,645

-11,252

-10,058

5,962

13,446

20,362

24,449

17,574

15,041

14,454

9,690

6,537

949

1,433

1,164

949

1,589

1,187

866

0

0

0

-

-

-

-

Net cash used in operating activities

-212,105

-238,197

-226,023

-230,378

-243,885

-112,867

-104,891

-118,213

-101,201

-201,052

-184,963

-135,096

-122,706

-98,989

-104,622

-124,173

-138,652

-168,857

-177,650

-182,044

-186,870

-175,155

-167,804

-164,362

-137,267

-120,959

0

0

0

Investing activities
Purchases of property and equipment

2,910

3,176

3,373

5,171

5,689

7,240

5,995

4,946

4,590

2,406

2,551

2,138

2,038

2,135

2,341

2,602

2,674

2,647

2,806

2,593

2,144

3,107

3,408

3,184

3,614

2,734

0

0

0

Purchases of marketable securities

340,538

423,898

383,261

289,377

276,560

183,261

169,382

158,712

184,413

288,791

354,829

378,176

396,784

237,567

230,511

153,334

62,352

73,011

34,083

169,971

179,552

168,893

0

0

0

-

-

-

-

Maturities of marketable securities

381,023

339,018

363,910

342,132

378,091

347,192

293,925

250,322

244,881

234,864

213,592

171,923

110,680

91,467

96,319

131,332

150,296

186,697

191,930

155,660

119,034

65,564

0

0

0

-

-

-

-

Proceeds from the sale of marketable securities

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the sale of fixed assets

-

-

-

-

-

17

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments received on notes receivable, net of issuance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

100

0

0

0

Net cash provided by (used in) investing activities

57,512

-83,051

2,281

72,584

115,842

176,708

118,565

86,681

55,895

-56,333

-143,788

-208,391

-288,142

-148,235

-136,533

-24,604

85,270

111,039

155,226

-16,719

-62,477

-106,251

-117,001

-7,382

-3,614

-2,634

0

0

0

Financing activities
Proceeds from sale of ordinary shares to Mylan, net of premium

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Proceeds from the sale of ordinary shares, net

0

-

-

-

-

-

-

-

-

-

-

-

-

253,028

196,996

196,931

81,066

79,017

0

0

0

-

-

-

-

-

-

-

-

Proceeds from issuance of 2035 notes, net

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of issuance costs on 2035 notes

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of redemption premium on 2033 notes

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payment on 2033 notes

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from option exercises

3,091

3,142

3,060

3,857

1,612

1,393

1,849

997

3,455

6,236

7,635

8,352

7,194

4,378

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-75

95

522

673

282

0

0

0

-

-

-

-

Transfers from Innoviva, Inc.

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

92,976

129,230

162,402

140,881

123,593

0

0

0

Repurchase of shares to satisfy tax withholding

8,290

3,173

4,098

5,083

9,779

9,807

9,687

9,302

6,243

8,560

8,346

7,810

6,121

3,871

3,606

2,980

2,438

756

0

0

0

-

-

-

0

-

-

-

-

Net cash provided by (used in) financing activities

264,156

1,291

232,439

232,251

225,447

225,200

-3,773

-4,240

1,192

1,656

333,480

334,750

451,990

479,226

200,613

200,050

81,286

81,310

27,310

27,654

350,246

370,621

407,033

439,943

140,881

123,593

0

0

0

Net increase (decrease) in cash, cash equivalents, and restricted cash

109,563

-319,957

8,697

74,457

97,404

289,041

9,901

-35,772

-44,114

-255,729

4,729

-8,737

41,142

232,002

-40,542

51,273

27,904

23,492

4,886

-171,109

100,899

89,215

122,228

268,199

0

0

0

0

0

Supplemental disclosure of cash flow information
Cash paid for interest

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid (received) for income taxes, net

0

-

-

-

-

-7,316

0

0

0

-

-

-

-

-9,488

-6,491

-3,372

22,118

13,389

0

0

0

-

-

-

-

-

-

-

-

Right-of-use assets obtained in exchange for lease obligations (1)

-

49,847

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-