Vertex pharmaceuticals inc / ma (VRTX)
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'11Dec'10Sep'10Jun'10Mar'10Dec'09Sep'09Jun'09Mar'09
Cash flows from operating activities:
Net income

1,510,932

1,176,810

2,118,672

2,189,610

2,128,433

2,087,103

664,192

244,469

69,388

91,635

17,209

268,939

201,619

-84,031

-186,459

-240,738

-425,579

-588,181

-694,358

-770,602

-708,992

-742,745

-746,448

-705,050

-607,380

-687,550

-581,077

-478,882

-451,638

-51,135

215,082

470,001

305,151

41,179

-327,354

-764,763

-765,451

-754,626

-732,878

-673,486

-644,777

-642,178

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense

382,404

360,489

347,841

347,953

340,702

325,047

322,350

311,274

301,933

293,236

278,990

265,743

254,590

240,623

223,269

227,794

229,113

231,025

228,761

209,163

188,346

177,542

158,530

143,702

142,608

127,303

131,569

127,843

117,872

114,285

115,703

117,535

118,035

118,226

112,746

107,100

99,670

91,124

85,276

81,642

83,778

86,722

0

0

0

Depreciation expense

106,622

106,941

99,511

92,856

83,217

72,420

70,026

66,059

62,890

61,397

60,416

59,760

59,833

61,398

61,694

63,293

62,395

62,343

62,932

63,725

63,832

63,257

64,552

57,080

53,462

48,365

43,107

42,211

40,322

38,191

35,542

34,699

34,743

35,041

33,522

32,530

31,733

30,459

30,637

30,694

30,527

30,107

0

0

0

Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Write-downs of inventories to net realizable value

-

-

-

-

-

-

0

0

15,124

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Secured notes (due 2012) discount amortization expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18,409

15,424

16,206

16,963

13,589

0

0

0

-

-

-

-

Change in fair value of free-standing derivatives related to the sale of milestone payments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-16,801

-22,528

-20,324

-45,338

-41,229

0

0

0

-

-

-

-

Deferred income taxes

160,667

167,387

-1,421,745

-1,428,483

-1,472,487

-1,512,325

-2,949

-121,623

-118,138

-120,513

-120,552

-1,271

16,113

16,961

19,034

19,795

5,343

3,283

0

0

0

-

-

-

-

-285,053

-129,263

-113,311

-89,762

36,660

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Losses (gains) on equity securities

109,176

197,597

-16,797

-46,740

-49,349

2,558

88,217

149,376

95,458

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of property and equipment

-

-

-

-

-

-

-

-

-

-

-

0

1,946

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Intangible asset impairment charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

663,500

412,900

412,900

412,900

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from share-based payment arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,971

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other non-cash based compensation expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,860

8,047

10,649

10,401

10,261

10,199

9,586

9,132

8,525

8,034

7,463

6,825

6,552

6,373

6,230

6,286

6,044

0

0

0

Loss on disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-39

0

-157

-177

-2,211

0

0

0

Other non-cash items, net

-29,041

-16,942

-9,127

-21,452

-24,244

-32,502

-27,981

-29,287

-25,418

-14,439

-4,203

2,130

-4,823

-6,140

-11,504

-6,923

-5,068

-9,532

2,883

-6,023

-802

0

-1,442

691

-7,544

-6,742

-5,789

-7,503

815

-178

-1

-672

-541

-319

0

0

0

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable, net

419,123

225,587

74,429

75,856

124,815

108,152

86,761

110,158

77,434

71,759

89,500

75,908

44,381

39,095

31,123

101,855

106,747

110,098

73,992

16,287

23,672

-7,428

-25,311

-74,343

-127,434

-53,363

-17,111

-23,933

-40,171

-39,912

-306,064

89,375

226,621

170,606

440,696

92,682

-2,285

2,923

-5,213

-11,201

-8,829

-13,900

0

0

0

Inventories

78,358

64,047

52,784

47,773

36,896

31,965

41,719

33,852

47,798

47,484

38,058

34,587

22,491

19,368

18,555

21,499

25,282

23,146

27,695

27,089

21,592

16,469

2,971

-1,716

-399

-7,142

57,132

57,593

3,779

29,925

12,145

25,014

110,641

111,388

0

0

0

-

-

-

-

-

-

-

-

Prepaid expenses and other assets

-30,289

-35,440

38,822

34,304

857

-16,684

-5,030

38,124

41,083

111,063

77,948

34,191

39,804

2,631

-10,749

-3,417

-3,899

4,009

20,398

13,630

13,067

15,771

14,694

11,447

5,012

12,061

17,398

1,718

28,064

23,619

2,287

21,003

-2,796

-10,358

4,698

-108

-88

600

3,883

7,225

8,343

-2,070

0

0

0

Accounts payable

15,645

-22,785

1,321

-3,749

10,255

36,554

24,851

6,935

10,190

8,753

16,712

26,123

-10,685

-11,745

-29,524

-22,497

21,504

-1,709

36,875

14,344

514

25,048

-8,773

11,811

-7,685

-49,234

-29,754

-53,795

-24,279

14,892

24,006

22,634

37,134

37,468

23,236

19,329

5,716

-1,182

4,732

19,144

6,554

-15,057

0

0

0

Accrued expenses

353,974

172,881

390,807

315,649

306,945

302,755

275,349

274,866

234,174

255,178

115,790

90,383

13,892

-5,565

83,704

80,086

93,745

102,746

-30,230

-45,626

-70,568

-63,183

20,667

20,554

-2,143

34,629

43,377

24,538

68,237

29,232

34,145

125,137

123,731

116,822

101,857

29,092

16,297

11,213

14,724

9,810

-535

8,924

0

0

0

Other liabilities

71,268

37,997

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Early access sales accrual

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued restructuring expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,592

-7,372

-7,584

-30,492

-37,798

859

-2,379

17,502

29,464

-3,068

1,408

5,025

1,983

-2,778

-3,014

-2,985

-2,429

-3,375

-3,341

-3,282

-6,654

-5,719

-4,519

-4,422

-120

-126

-1,478

-47

0

0

0

Accrued interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

653

-1,169

-5,496

-1,423

0

0

0

Deferred revenues

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-15,695

-17,070

-16,724

-19,242

-24,197

-28,968

-32,620

-25,531

-52,649

-52,035

-53,277

-53,011

-22,568

-20,402

-20,850

-39,324

-50,987

-61,686

-71,929

-71,536

-95,023

-74,442

-66,454

-65,863

-42,597

42,734

45,901

53,057

0

0

0

Net cash provided by operating activities

2,060,244

1,569,330

1,437,900

1,484,459

1,342,413

1,270,286

1,183,219

971,957

831,907

844,942

762,155

657,725

516,932

236,103

120,522

-7,207

-158,333

-365,432

-576,358

-601,932

-619,586

-573,112

-371,570

-297,643

-170,650

-60,666

-39,866

79,815

199,147

267,841

730,945

667,879

333,279

143,735

-526,031

-732,916

-625,608

-635,442

-571,666

-429,311

-438,489

-427,586

0

0

0

Cash flows from investing activities:
Payments to acquire businesses, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

87,422

0

0

0

Purchases of available-for-sale debt securities

484,246

537,196

484,290

493,552

521,480

431,918

430,295

356,916

322,961

532,581

431,653

524,215

640,274

616,625

957,531

977,463

732,010

633,041

649,535

845,850

1,168,878

1,424,172

1,629,175

2,217,689

2,334,396

2,412,418

2,246,800

1,826,931

1,761,621

1,705,829

1,779,500

1,364,040

999,728

721,545

711,278

1,048,576

1,317,693

1,234,719

0

0

0

-

-

-

-

Maturities of available-for-sale debt securities

428,951

475,924

498,315

489,255

444,329

431,576

430,471

371,360

365,186

369,214

469,332

594,128

724,782

757,562

798,234

658,034

827,193

1,067,443

1,159,126

1,498,457

1,552,817

1,557,938

1,709,334

2,318,595

2,294,304

2,348,295

2,268,974

1,696,645

1,614,475

1,367,927

1,034,231

730,199

663,665

1,016,040

1,228,138

1,554,694

1,636,894

1,284,806

1,250,814

960,947

798,531

788,263

0

0

0

Sale of equity securities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Expenditures for property and equipment

76,860

75,451

74,411

71,032

84,286

95,524

122,787

129,835

117,601

99,421

71,225

57,148

55,688

56,563

54,302

49,216

46,718

45,302

47,451

47,952

46,233

51,201

50,996

60,212

50,312

51,393

64,968

67,850

81,592

71,140

52,423

41,012

35,900

34,595

39,694

40,539

39,794

38,054

31,204

25,127

20,027

23,496

0

0

0

Investment in equity securities

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Decrease) increase in restricted cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

Decrease in restricted cash due to deconsolidation of VIE

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-17,345

-17,805

-14,322

-11,685

-16,468

-3,915

-1,638

-1,638

-8,960

-16,189

-20,909

-27,884

-23,894

2,264

4,991

18,105

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

61

21,040

22,175

22,648

21,929

1,134

-371

-1,031

244

0

0

0

-

-

-

-

-

-

-

-144

183

638

399

1,118

955

150

592

-127

-679

0

0

0

Decrease (increase) in deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

-1,164,514

-1,235,318

-379,231

-180,121

-246,229

-202,158

-182,040

-357,432

-317,417

-483,329

-285,606

-25,534

-7,033

51,238

-248,389

-384,115

-47,890

268,856

373,535

505,015

316,454

82,009

-19,790

-799

-95,372

-112,561

14,405

-166,359

-231,711

-425,817

-820,749

-668,075

-425,242

212,412

430,493

406,633

274,491

7,301

-370,781

-325,842

-450,147

-508,732

0

0

0

Cash flows from financing activities:
Cash flows from financing activities:
Issuances of common stock under benefit plans

359,221

343,244

188,169

258,548

264,510

289,293

292,389

341,790

421,994

344,840

315,270

182,415

70,633

68,230

97,068

131,444

152,822

185,592

213,030

244,518

256,097

274,615

224,792

175,953

304,342

265,878

259,131

241,590

192,093

191,721

191,070

194,192

112,517

124,862

118,189

104,970

59,413

33,434

46,877

48,403

50,096

47,850

0

0

0

Repurchases of common stock

398,034

192,015

298,958

390,859

434,050

350,043

207,038

115,033

10,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments in connection with common stock withheld for employee tax obligations

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on finance leases

40,087

39,185

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds related to finance leases

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Advance from collaborator

10,000

12,500

10,000

10,000

10,000

7,500

10,000

10,000

10,000

12,500

85,000

82,500

80,000

75,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds related to capital lease and construction financing lease obligations

-

-

-

-

-

20,840

42,949

44,232

44,232

34,666

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from capital lease financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,662

13,386

13,386

13,386

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

18,455

28,025

22,197

17,597

33,003

19,979

19,966

19,954

-23,714

-8,665

6,388

21,443

46,894

34,103

21,107

16,057

14,808

14,861

12,711

2,615

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of advanced funding

5,361

5,866

5,629

5,438

5,230

5,027

4,848

4,634

4,454

4,266

3,132

2,044

994

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on revolving credit facility

-

-

-

-

-

-

-

-

-

300,000

300,000

300,000

300,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital lease and construction financing lease obligations

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from share-based payment arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,971

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Issuances of common stock from stock offerings, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

801,385

0

0

0

Payments to redeem secured notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

155,000

0

0

0

-

-

-

-

-

-

-

-

Debt conversion costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22

0

0

0

-

-

-

-

Other financing activities

-

-

-

-

-

-394

-1,000

89

-883

0

0

0

0

-

-

-

-

-

-

-

-

-

0

0

0

-

-75,843

-62,988

-36,582

-18,873

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-190,668

126,773

-135,694

-153,971

-192,164

-71,219

103,058

253,684

436,925

68,404

88,935

-50,216

-160,996

133,271

92,149

128,263

143,207

188,919

244,464

552,029

549,237

549,239

525,106

180,879

304,962

248,411

169,196

164,340

144,544

172,204

-15,613

-3,694

-86,356

-124,238

68,189

446,615

401,058

425,057

954,274

686,372

687,980

999,006

0

0

0

Effect of changes in exchange rates on cash

-4,630

1,643

-5,435

-2,789

-8,216

-6,182

-3,955

-1,899

6,070

5,802

600

-1,076

-5,898

-4,666

-840

-1,618

2,382

-2,834

-3,954

-5,127

-5,271

-2,176

1,636

6,874

6,006

4,708

2,560

-610

-804

-141

-242

-244

-294

214

-7

255

48

-377

-1,059

-2,560

-4,996

-5,145

0

0

0

Net increase in cash and cash equivalents

700,432

462,428

917,540

1,147,578

895,804

990,727

1,100,282

866,310

957,485

435,819

566,084

580,899

343,005

415,946

-36,558

-264,677

-60,634

89,509

37,687

449,985

240,834

55,960

135,382

-110,689

44,946

79,892

146,295

77,186

111,176

14,087

-105,659

-4,134

-178,613

232,123

-27,356

120,587

49,989

-203,461

10,768

-71,341

-205,652

57,543

0

0

0

Supplemental disclosure of cash flow information:
Cash paid for interest

56,177

55,554

58,145

60,123

62,781

66,458

66,723

67,137

67,994

68,696

70,984

77,334

80,580

83,656

86,044

84,053

84,678

85,613

130,377

79,915

74,531

68,963

8,638

38,249

29,185

13,458

0

0

0

-

-

-

-

-

-

-

-

761

761

4,181

4,181

10,248

0

0

0

Cash paid for income taxes

28,740

24,730

24,924

16,235

12,340

12,402

12,576

11,265

7,147

6,414

-42

-1,598

-1,996

-2,579

4,684

2,021

2,327

1,806

-849

1,434

1,130

1,210

3,638

3,638

1,439

2,840

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Accrued interest offset to additional paid-in capital on conversion of convertible senior subordinated notes (due 2013)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

140

0

0

0

-

-

-

-

Unamortized deferred debt issuance costs exchanged

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

624

0

0

0

-

-

-

-

Capitalization of costs related to construction financing lease obligation

-

-

-

-

-

3,389

10,417

7,101

32,022

40,855

47,241

53,168

26,787

14,238

0

0

0

-

-

-

-

25,564

64,093

110,355

174,525

215,013

244,082

261,475

263,417

235,594

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Assets acquired under capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,188

21,437

38,381

54,591

50,972

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuances of common stock from employee benefit plans receivable

3,127

2,820

-5,410

-13,009

-1,528

86

5,485

14,290

-16,879

844

917

95

19,322

68

616

356

-10

361

-22,634

803

1,601

637

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued share repurchase liability

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fair value of common stock issued to acquire ViroChem

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0