v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income (loss) $ (243,174) $ 43,631
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation and amortization 82,195 59,525
Non-cash interest 2,057 7,164
Amortization of deferred financing costs 863 603
Losses from investments in investees 359 163
Equity-based compensation – employees and non-employees 15,315 9,929
Realized loss (gain) on disposal of fixed assets and sales of equity securities (814) (35,484)
Loss on conversion of the 2025 Notes 0 11,111
Change in fair value of equity securities and derivative instruments 104,126 1,919
Change in fair value of contingent consideration (685) (1,556)
Gain on sale of GeneDx (15,365) 0
Deferred income tax benefit (48,883) 2,378
Changes in assets and liabilities:    
Accounts receivable, net 130,052 27,934
Inventory, net 11,314 14,254
Other current assets and prepaid expenses (3,977) (13,738)
Other assets 211 1,015
Accounts payable (25,000) (4,746)
Foreign currency measurement 10,541 2,382
Contract liabilities (73) (13,016)
Accrued expenses and other liabilities (82,631) (65,687)
Net cash (used in) provided by operating activities (63,569) 43,980
Cash flows from investing activities:    
Proceeds from sale of investments 0 8,079
Proceeds from sale of GeneDx 115,423 0
Acquisition of businesses, net of cash 228 (4,000)
Proceeds from the sale of property, plant and equipment 1,501 65,975
Capital expenditures (18,242) (25,426)
Net cash provided by investing activities 98,910 44,628
Cash flows from financing activities:    
Debt issuance costs 0 (188)
Proceeds from the exercise of common stock options (688) 879
Borrowings on lines of credit 893,548 1,326,641
Repayments of lines of credit (880,033) (1,338,515)
Net cash provided by (used in) financing activities 12,827 (11,183)
Effect of exchange rate changes on cash and cash equivalents (2,040) (163)
Net increase in cash and cash equivalents 46,128 76,388
Cash and cash equivalents at beginning of period 134,710 72,211
Cash and cash equivalents at end of period 180,838 148,599
SUPPLEMENTAL INFORMATION:    
Interest paid 7,019 8,386
Income taxes paid, net of refunds 4,471 5,509
Non-cash financing:    
Shares issued upon the conversion of-2025 Convertible Notes 0 68,775
Shares issued upon the conversion of: Common stock options and warrants, surrendered in net exercise 1,182 0
Issuance of common stock for acquisition of ModeX 221,662 0
Fair value of shares included in consideration from Sema4 $ 172,000 $ 0

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