Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net loss $ (308,870,000) $ (25,083,000) $ (31,428,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 102,093,000 96,576,000 42,248,000
Non-cash interest 2,575,000 2,699,000 2,612,000
Amortization of deferred financing costs 224,000 237,000 1,212,000
Losses from investments in investees 14,471,000 7,652,000 7,105,000
Equity-based compensation – employees and non-employees 28,307,000 42,693,000 26,074,000
Impairment of intangible assets 13,194,000 0 0
Revenue from receipt of equity 0 0 (140,000)
Realized loss (gain) on equity securities and disposal of fixed assets (8,663,000) 2,321,000 7,091,000
Loss (gain) on conversion of 3.00% convertible senior notes 0 284,000 (943,000)
Change in fair value of derivative instruments (52,000) (2,778,000) 39,083,000
Change in fair value of contingent consideration (3,423,000) 16,954,000 5,050,000
Gain on deconsolidation of SciVac 0 0 (15,940,000)
Deferred income tax provision (benefit) 16,092,000 (66,300,000) (123,536,000)
Changes in assets and liabilities, net of the effects of acquisitions:      
Accounts receivable, net 58,011,000 (25,637,000) (4,845,000)
Inventory, net (3,539,000) (6,607,000) (4,953,000)
Other current assets and prepaid expenses 10,171,000 17,262,000 (4,391,000)
Other assets (2,372,000) (1,899,000) (305,000)
Accounts payable 20,171,000 (19,819,000) (18,122,000)
Foreign currency measurement (255,000) (376,000) 979,000
Deferred revenue (60,656,000) (74,169,000) 227,671,000
Accrued expenses and other liabilities 30,441,000 68,036,000 9,502,000
Net cash provided by (used in) operating activities (92,080,000) 32,046,000 164,024,000
Cash flows from investing activities:      
Investments in investees (9,625,000) (14,424,000) (4,375,000)
Proceeds from sale of equity securities 2,211,000 0 0
Acquisition of businesses, net of cash acquired 0 15,878,000 (79,000,000)
Acquisition of intangible assets 0 (5,000,000) (5,000,000)
Purchase of marketable securities 0 (15,644,000) 0
Maturities of short-term marketable securities 0 15,634,000 0
Proceeds from the sale of property, plant and equipment 7,271,000 1,401,000 0
Capital expenditures (46,524,000) (18,547,000) (10,846,000)
Net cash used in investing activities (46,667,000) (20,702,000) (99,221,000)
Cash flows from financing activities:      
Proceeds from the exercise of Common Stock options and warrants 2,132,000 8,576,000 25,921,000
Cash from non-controlling interest 0 0 100,000
Borrowings on lines of credit 92,421,000 22,407,000 261,339,000
Repayments of lines of credit (33,510,000) (66,178,000) (254,355,000)
Net cash provided by (used in) financing activities 61,043,000 (35,195,000) 33,005,000
Effect of exchange rate changes on cash and cash equivalents 470,000 (1,014,000) (1,117,000)
Net (decrease) increase in cash and cash equivalents (77,234,000) (24,865,000) 96,691,000
Cash and cash equivalents at beginning of period 168,733,000 193,598,000 96,907,000
Cash and cash equivalents at end of period 91,499,000 168,733,000 193,598,000
SUPPLEMENTAL INFORMATION:      
Interest paid 1,313,000 2,890,000 4,572,000
Income taxes paid, net of refunds 5,416,000 (27,122,000) 4,879,000
Non-cash financing:      
Shares issued upon the conversion of - Common Stock options and warrants, surrendered in net exercise 1,546,000 350,000 14,369,000
Transition Therapeutics, Inc.      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 0 58,530,000 0
BioReference Laboratories, Inc.      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 0 0 950,148,000
EirGen Pharma Limited      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 0 0 33,569,000
OPKO Renal      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 0 25,986,000 20,113,000
OPKO Health Europe      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 303,000 313,000 1,813,000
Issuance of stock for investment in Xenetic      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 0 4,856,000 0
2033 Senior Notes      
Non-cash financing:      
Shares issued upon the conversion of - 2033 Senior Notes $ 0 $ 583,000 $ 120,299,000