| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income | |||||||||||
1,176,810 | 2,087,103 | 91,635 | -84,031 | -588,181 | -742,745 | -687,550 | -51,135 | 41,179 | -754,626 | -642,178 | -459,851 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Stock-based compensation expense | |||||||||||
360,489 | 325,047 | 293,236 | 240,623 | 231,025 | 177,542 | 127,303 | 114,285 | 118,226 | 91,124 | 86,722 | 57,985 |
Depreciation expense | |||||||||||
106,941 | 72,420 | 61,397 | 61,398 | 62,343 | 63,257 | 48,365 | 38,191 | 35,041 | 30,459 | 30,107 | 32,196 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | |||||||||||
4,459 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Write-downs of inventories to net realizable value | |||||||||||
- | - | - | 0 | 0 | - | 10,400 | 133,189 | 0 | 0 | - | - |
Secured notes (due 2012) discount amortization expense | |||||||||||
- | - | - | - | - | - | - | - | 18,409 | 13,589 | 3,125 | - |
Change in fair value of free-standing derivatives related to the sale of milestone payments | |||||||||||
- | - | - | - | - | - | - | - | -16,801 | -41,229 | -1,847 | - |
Deferred income taxes | |||||||||||
167,387 | -1,512,325 | -120,513 | 16,961 | 3,283 | 281 | -285,053 | 36,660 | -7,501 | 0 | -2,225 | - |
Losses (gains) on equity securities | |||||||||||
197,597 | 2,558 | 0 | 0 | - | - | - | - | - | - | - | - |
Impairment of property and equipment | |||||||||||
- | - | - | - | 2,516 | 1,689 | 7,594 | 0 | - | - | - | - |
Intangible asset impairment charges | |||||||||||
0 | 29,000 | 255,340 | 0 | 0 | - | 663,500 | 0 | 105,800 | 0 | 7,200 | - |
Acquired in-process research and development | |||||||||||
0 | 0 | 160,000 | 0 | 0 | - | - | - | - | - | - | - |
Excess tax benefit from share-based payment arrangements | |||||||||||
- | - | - | - | - | 2,160 | -1,252 | 1,971 | 900 | 0 | - | - |
Non-cash Expense | |||||||||||
- | - | - | - | - | - | - | - | 0 | - | - | - |
Deconsolidation of VIE | |||||||||||
0 | -1,077 | -76,644 | 0 | 0 | - | -55,110 | 0 | 0 | - | - | - |
Other non-cash based compensation expense | |||||||||||
- | - | - | - | - | - | 5,860 | 10,261 | 8,525 | 6,552 | 6,044 | 5,027 |
Loss on disposal of property and equipment | |||||||||||
- | - | - | - | - | - | - | - | - | -39 | -2,211 | -11 |
Realized gain on marketable securities | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 633 |
Loss on exchanges of convertible senior subordinated notes (due 2013) | |||||||||||
- | - | - | - | - | - | - | - | - | - | -18,137 | - |
Other non-cash items, net | |||||||||||
-16,942 | -32,502 | -14,439 | -6,140 | -9,532 | 0 | -6,742 | -178 | -319 | 31 | - | - |
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable, net | |||||||||||
225,587 | 108,152 | 71,759 | 39,095 | 110,098 | -7,428 | -53,363 | -39,912 | 170,606 | 2,923 | -13,900 | -7,831 |
Inventories | |||||||||||
64,047 | 31,965 | 47,484 | 19,368 | 23,146 | 16,469 | -7,142 | 29,925 | 111,388 | 0 | - | - |
Prepaid expenses and other assets | |||||||||||
-35,440 | -16,684 | 111,063 | 2,631 | 4,009 | 15,771 | 12,061 | 23,619 | -10,358 | 600 | -2,070 | 7,331 |
Accounts payable | |||||||||||
-22,785 | 36,554 | 8,753 | -11,745 | -1,709 | 25,048 | -49,234 | 14,892 | 37,468 | -1,182 | -15,057 | 19,010 |
Accrued expenses | |||||||||||
172,881 | 302,755 | 255,178 | -5,565 | 102,746 | -63,183 | 34,629 | 29,232 | 116,822 | 11,213 | 8,924 | 58 |
Other liabilities | |||||||||||
37,997 | 22,144 | -20,861 | - | - | - | - | - | - | - | - | - |
Early access sales accrual | |||||||||||
- | - | - | 73,416 | - | - | - | - | - | - | - | - |
Accrued restructuring expense | |||||||||||
- | - | - | - | -30,492 | 17,502 | 5,025 | -2,985 | -3,282 | -4,422 | -47 | -1,228 |
Accrued interest | |||||||||||
- | - | - | - | - | - | - | - | - | - | -1,423 | 5,349 |
Income taxes payable (Alios) | |||||||||||
- | - | - | - | - | - | - | - | - | 0 | - | - |
Deferred revenues | |||||||||||
- | - | - | - | -19,242 | -25,531 | -53,011 | -39,324 | -71,536 | -65,863 | 53,057 | 115,094 |
Net cash provided by operating activities | |||||||||||
1,569,330 | 1,270,286 | 844,942 | 236,103 | -365,432 | -573,112 | -60,666 | 267,841 | 143,735 | -635,442 | -427,586 | -226,482 |
Cash flows from investing activities: | |||||||||||
Payments to acquire businesses, net of cash acquired | |||||||||||
1,154,212 | 0 | 0 | - | - | - | - | - | - | - | 87,422 | - |
Purchases of available-for-sale debt securities | |||||||||||
537,196 | 431,918 | 532,581 | 616,625 | 633,041 | 1,424,172 | 2,412,418 | 1,705,829 | 721,545 | 1,234,719 | 1,186,701 | 755,422 |
Maturities of available-for-sale debt securities | |||||||||||
475,924 | 431,576 | 369,214 | 757,562 | 1,067,443 | 1,557,938 | 2,348,295 | 1,367,927 | 1,016,040 | 1,284,806 | 788,263 | 427,648 |
Sale of equity securities | |||||||||||
94,936 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Expenditures for property and equipment | |||||||||||
75,451 | 95,524 | 99,421 | 56,563 | 45,302 | 51,201 | 51,393 | 71,140 | 34,595 | 38,054 | 23,496 | 32,180 |
Investment in equity securities | |||||||||||
39,319 | 83,471 | 0 | 13,075 | 0 | 0 | - | - | - | - | - | - |
Investment in note receivable | |||||||||||
0 | 15,000 | 0 | 20,000 | 30,000 | 0 | 0 | - | - | - | - | - |
(Decrease) increase in restricted cash and cash equivalents | |||||||||||
- | - | - | - | - | 0 | -31,804 | -2,156 | 0 | 3,777 | 55 | - |
Decrease in restricted cash due to deconsolidation of VIE | |||||||||||
- | 7,896 | 61,602 | 0 | -11,685 | -1,638 | -27,884 | 18,105 | -12,695 | 0 | - | - |
Purchase of in-process research and development | |||||||||||
0 | 0 | 160,000 | 0 | 0 | - | - | - | - | - | - | - |
Other investing activities | |||||||||||
0 | -75 | -1,061 | 61 | 21,929 | 244 | -1,698 | 826 | 183 | 955 | -679 | 696 |
Payment for acquisition of variable interest entity | |||||||||||
- | - | - | - | 80,000 | 10,000 | 0 | 0 | 60,000 | 0 | - | - |
Payments returned related to construction financing lease obligation | |||||||||||
- | - | - | - | - | 8,050 | 0 | - | - | - | - | - |
Payments on construction costs | |||||||||||
- | - | - | - | - | - | 58,431 | - | - | - | - | - |
Net cash provided by (used in) investing activities | |||||||||||
-1,235,318 | -202,158 | -483,329 | 51,238 | 268,856 | 82,009 | -112,561 | -425,817 | 212,412 | 7,301 | -508,732 | -360,650 |
Cash flows from financing activities: | |||||||||||
Cash flows from financing activities: | |||||||||||
Issuances of common stock under benefit plans | |||||||||||
343,244 | 289,293 | 344,840 | 68,230 | 185,592 | 274,615 | 265,878 | 191,721 | 124,862 | 33,434 | 47,850 | 31,983 |
Repurchases of common stock | |||||||||||
192,015 | 350,043 | 0 | 0 | - | - | - | - | - | - | - | - |
Payments on finance leases | |||||||||||
39,185 | - | - | - | - | - | - | - | - | - | - | - |
Advance from collaborator | |||||||||||
12,500 | 7,500 | 12,500 | 75,000 | 0 | 0 | - | - | - | - | - | - |
Proceeds related to capital lease and construction financing lease obligations | |||||||||||
10,046 | 20,840 | 34,666 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from capital lease financing | |||||||||||
- | - | - | 11,208 | 23,662 | 0 | 0 | - | - | - | - | - |
Payments on capital lease obligations | |||||||||||
- | - | - | - | - | - | - | 0 | - | - | - | - |
Payments to redeem secured notes (due 2015) | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 19,997 |
Settlement of milestone derivatives | |||||||||||
- | - | - | - | - | - | - | - | 95,000 | 0 | - | - |
Payments on capital lease obligations | |||||||||||
- | - | - | 17,597 | 19,954 | 21,443 | 16,057 | 2,615 | 0 | 0 | - | - |
Repayments of advanced funding | |||||||||||
5,866 | 5,027 | 4,266 | 0 | 0 | - | - | - | - | - | - | - |
Payments on capital lease and construction financing lease obligations | |||||||||||
0 | 33,388 | 19,336 | 432 | 381 | 336 | 0 | - | - | - | - | - |
Payments on revolving credit facility | |||||||||||
0 | 0 | 300,000 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from senior secured term loan | |||||||||||
- | - | - | - | - | 294,243 | 0 | 0 | - | - | - | - |
Payments on senior secured term loan | |||||||||||
- | - | - | 75,000 | 0 | 0 | - | - | - | - | - | - |
Proceeds from revolving credit facility | |||||||||||
- | - | - | 74,965 | 0 | 0 | - | - | - | - | - | - |
Payments of debt issuance costs | |||||||||||
- | - | - | 3,103 | 0 | 0 | - | - | - | - | - | - |
Excess tax benefit from share-based payment arrangements | |||||||||||
- | - | - | - | - | 2,160 | -1,252 | 1,971 | 900 | 0 | - | - |
Issuances of common stock from stock offerings, net | |||||||||||
- | - | - | - | - | - | - | - | - | - | 801,385 | 330,145 |
Issuance of convertible senior subordinated notes (due 2015) | |||||||||||
- | - | - | - | - | - | - | - | - | 391,645 | - | 278,607 |
Issuance of secured notes (due 2012) and sale of milestone payments, net | |||||||||||
- | - | - | - | - | - | - | - | - | - | 149,902 | - |
Payments to redeem secured notes | |||||||||||
- | - | - | - | - | - | 158 | 0 | 155,000 | 0 | - | - |
Debt conversion costs | |||||||||||
- | - | - | - | - | - | - | - | - | 22 | 131 | - |
Other financing activities | |||||||||||
-1,951 | -394 | 0 | 0 | - | - | - | -18,873 | 0 | 0 | - | - |
Net cash used in financing activities | |||||||||||
126,773 | -71,219 | 68,404 | 133,271 | 188,919 | 549,239 | 248,411 | 172,204 | -124,238 | 425,057 | 999,006 | 620,738 |
Effect of changes in exchange rates on cash | |||||||||||
1,643 | -6,182 | 5,802 | -4,666 | -2,834 | -2,176 | 4,708 | -141 | 214 | -377 | -5,145 | -154 |
Net increase in cash and cash equivalents | |||||||||||
462,428 | 990,727 | 435,819 | 415,946 | 89,509 | 55,960 | 79,892 | 14,087 | 232,123 | -203,461 | 57,543 | 33,452 |
Supplemental disclosure of cash flow information: | |||||||||||
Cash paid for interest | |||||||||||
55,554 | 66,458 | 68,696 | 83,656 | 85,613 | 68,963 | 13,458 | 13,400 | 13,512 | 761 | 10,248 | 6,676 |
Cash paid for income taxes | |||||||||||
24,730 | 12,402 | 6,414 | -2,579 | 1,806 | 1,210 | 2,840 | 9,318 | 0 | 0 | - | - |
Conversion of convertible senior subordinated notes (due 2015) for common stock | |||||||||||
- | - | - | - | - | - | 399,842 | 0 | 0 | 32,071 | - | - |
Accrued interest offset to additional paid-in capital on conversion of convertible senior subordinated notes (due 2013) | |||||||||||
- | - | - | - | - | - | - | - | - | 140 | 3,355 | - |
Unamortized deferred debt issuance costs exchanged | |||||||||||
- | - | - | - | - | - | 4,230 | 0 | 0 | 624 | 5,899 | - |
Capitalization of costs related to construction financing lease obligation | |||||||||||
0 | 3,389 | 40,855 | 14,238 | 0 | 25,564 | 215,013 | 235,594 | 54,655 | 0 | - | - |
Assets acquired under capital lease obligations | |||||||||||
- | - | - | - | - | 9,188 | 50,972 | 31,101 | 0 | 0 | - | - |
Proceeds from revolving credit facility directly paid to settle all outstanding obligations under the term loan | |||||||||||
- | - | - | 225,000 | 0 | 0 | - | - | - | - | - | - |
Issuances of common stock from employee benefit plans receivable | |||||||||||
2,820 | 86 | 844 | 68 | 361 | 637 | 0 | 0 | - | - | - | - |
Fair value of common stock issued to acquire ViroChem | |||||||||||
- | - | - | - | - | - | - | - | - | - | 290,557 | - |