Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.4.1.9
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:      
Net loss $ (174,638)us-gaap_ProfitLoss $ (117,346)us-gaap_ProfitLoss $ (29,540)us-gaap_ProfitLoss
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 14,927us-gaap_DepreciationDepletionAndAmortization 15,216us-gaap_DepreciationDepletionAndAmortization 10,160us-gaap_DepreciationDepletionAndAmortization
Non-cash interest on 2033 Senior Notes 5,662us-gaap_PaidInKindInterest 5,980us-gaap_PaidInKindInterest 0us-gaap_PaidInKindInterest
Amortization of deferred financing costs 2,007us-gaap_AmortizationOfFinancingCosts 1,170us-gaap_AmortizationOfFinancingCosts 0us-gaap_AmortizationOfFinancingCosts
Losses from investments in investees 3,587us-gaap_IncomeLossFromEquityMethodInvestments 11,456us-gaap_IncomeLossFromEquityMethodInvestments 2,062us-gaap_IncomeLossFromEquityMethodInvestments
Equity-based compensation – employees and non-employees 14,779us-gaap_ShareBasedCompensation 10,983us-gaap_ShareBasedCompensation 5,131us-gaap_ShareBasedCompensation
(Recovery of) provision for bad debts 646us-gaap_ProvisionForDoubtfulAccounts 979us-gaap_ProvisionForDoubtfulAccounts (95)us-gaap_ProvisionForDoubtfulAccounts
Provision for inventory obsolescence 1,082us-gaap_InventoryWriteDown 2,015us-gaap_InventoryWriteDown 2,688us-gaap_InventoryWriteDown
Revenue from receipt of equity (240)opk_RevenueFromReceiptOfEquity (12,740)opk_RevenueFromReceiptOfEquity (159)opk_RevenueFromReceiptOfEquity
Realized gain on sale of equity securities 167us-gaap_GainLossOnSaleOfInvestments (29,881)us-gaap_GainLossOnSaleOfInvestments 0us-gaap_GainLossOnSaleOfInvestments
Gain on conversion of 3.00% convertible senior notes (2,668)us-gaap_GainsLossesOnExtinguishmentOfDebt (972)us-gaap_GainsLossesOnExtinguishmentOfDebt 0us-gaap_GainsLossesOnExtinguishmentOfDebt
Loss on sale of property, plant and equipment 0us-gaap_GainLossOnSaleOfPropertyPlantEquipment 60us-gaap_GainLossOnSaleOfPropertyPlantEquipment 0us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Change in fair value of derivative instruments 10,632us-gaap_GainLossOnDerivativeInstrumentsNetPretax 45,942us-gaap_GainLossOnDerivativeInstrumentsNetPretax (1,218)us-gaap_GainLossOnDerivativeInstrumentsNetPretax
In-process research and development 12,055us-gaap_ResearchAndDevelopmentInProcess 0us-gaap_ResearchAndDevelopmentInProcess 0us-gaap_ResearchAndDevelopmentInProcess
Change in fair value of contingent consideration 24,446us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 6,947us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 785us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
Deferred income tax (benefit) expense 1,017us-gaap_DeferredIncomeTaxesAndTaxCredits 599us-gaap_DeferredIncomeTaxesAndTaxCredits (9,958)us-gaap_DeferredIncomeTaxesAndTaxCredits
Changes in assets and liabilities, net of the effects of acquisitions:      
Accounts receivable (3,919)us-gaap_IncreaseDecreaseInAccountsReceivable 754us-gaap_IncreaseDecreaseInAccountsReceivable 763us-gaap_IncreaseDecreaseInAccountsReceivable
Inventory (1,752)us-gaap_IncreaseDecreaseInInventories 1,892us-gaap_IncreaseDecreaseInInventories (5,807)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other current assets 3,182us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (1,131)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (2,877)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Other assets (3,378)us-gaap_IncreaseDecreaseInOtherOperatingAssets (544)us-gaap_IncreaseDecreaseInOtherOperatingAssets (361)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable (3,852)us-gaap_IncreaseDecreaseInAccountsPayable 1,829us-gaap_IncreaseDecreaseInAccountsPayable 1,247us-gaap_IncreaseDecreaseInAccountsPayable
Foreign currency measurement 945us-gaap_ForeignCurrencyTransactionGainLossBeforeTax (2,386)us-gaap_ForeignCurrencyTransactionGainLossBeforeTax 86us-gaap_ForeignCurrencyTransactionGainLossBeforeTax
Accrued expenses 4,934us-gaap_IncreaseDecreaseInAccruedLiabilities 3,525us-gaap_IncreaseDecreaseInAccruedLiabilities 1,678us-gaap_IncreaseDecreaseInAccruedLiabilities
Net cash used in operating activities (90,379)us-gaap_NetCashProvidedByUsedInOperatingActivities (55,653)us-gaap_NetCashProvidedByUsedInOperatingActivities (25,415)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:      
Investments in investees (589)us-gaap_PaymentsToAcquireInvestments (17,441)us-gaap_PaymentsToAcquireInvestments (3,396)us-gaap_PaymentsToAcquireInvestments
Proceeds from sale of equity securities 1,331us-gaap_PaymentsForProceedsFromOtherInvestingActivities 30,556us-gaap_PaymentsForProceedsFromOtherInvestingActivities 0us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Acquisition of businesses, net of cash (1,683)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired 20,528us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (19,092)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Purchase of marketable securities 0us-gaap_PaymentsToAcquireMarketableSecurities (50,027)us-gaap_PaymentsToAcquireMarketableSecurities (25,806)us-gaap_PaymentsToAcquireMarketableSecurities
Maturities of short-term marketable securities 0us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments 50,027us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments 24,997us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
Proceeds from the sale of property, plant and equipment 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 636us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Capital expenditures (4,734)us-gaap_PaymentsToAcquireProductiveAssets (3,962)us-gaap_PaymentsToAcquireProductiveAssets (1,472)us-gaap_PaymentsToAcquireProductiveAssets
Net cash provided by (used in) investing activities (5,675)us-gaap_NetCashProvidedByUsedInInvestingActivities 30,317us-gaap_NetCashProvidedByUsedInInvestingActivities (24,769)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:      
Issuance of 2033 Senior Notes, net, including related parties 0us-gaap_ProceedsFromConvertibleDebt 170,184us-gaap_ProceedsFromConvertibleDebt 0us-gaap_ProceedsFromConvertibleDebt
Payment of Series D dividends, including related parties 0us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock (3,015)us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock 0us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock
Proceeds from the exercise of Common Stock options and warrants 12,928us-gaap_ProceedsFromIssuanceOrSaleOfEquity 23,425us-gaap_ProceedsFromIssuanceOrSaleOfEquity 2,279us-gaap_ProceedsFromIssuanceOrSaleOfEquity
Cash from non-controlling interest 2,696us-gaap_ProceedsFromPaymentsToMinorityShareholders 0us-gaap_ProceedsFromPaymentsToMinorityShareholders 0us-gaap_ProceedsFromPaymentsToMinorityShareholders
Contingent consideration payments (6,435)us-gaap_PaymentsForPreviousAcquisition (2,539)us-gaap_PaymentsForPreviousAcquisition 0us-gaap_PaymentsForPreviousAcquisition
Borrowings on lines of credit 26,443us-gaap_ProceedsFromLinesOfCredit 34,577us-gaap_ProceedsFromLinesOfCredit 36,506us-gaap_ProceedsFromLinesOfCredit
Repayments of lines of credit (28,369)us-gaap_RepaymentsOfLinesOfCredit (38,997)us-gaap_RepaymentsOfLinesOfCredit (32,754)us-gaap_RepaymentsOfLinesOfCredit
Net cash provided by financing activities 7,263us-gaap_NetCashProvidedByUsedInFinancingActivities 183,635us-gaap_NetCashProvidedByUsedInFinancingActivities 6,031us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rate on cash and cash equivalents (100)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 138us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (2)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net (decrease) increase in cash and cash equivalents (88,891)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 158,437us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (44,155)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 185,798us-gaap_CashAndCashEquivalentsAtCarryingValue [1] 27,361us-gaap_CashAndCashEquivalentsAtCarryingValue 71,516us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 96,907us-gaap_CashAndCashEquivalentsAtCarryingValue [1] 185,798us-gaap_CashAndCashEquivalentsAtCarryingValue [1] 27,361us-gaap_CashAndCashEquivalentsAtCarryingValue
SUPPLEMENTAL INFORMATION:      
Interest paid 6,276us-gaap_InterestPaid 3,407us-gaap_InterestPaid 945us-gaap_InterestPaid
Income taxes paid, net 954us-gaap_IncomeTaxesPaidNet 1,321us-gaap_IncomeTaxesPaidNet 575us-gaap_IncomeTaxesPaidNet
RXi common stock received 0opk_RevenueFromSaleOfIntellectualProperty 12,500opk_RevenueFromSaleOfIntellectualProperty 0opk_RevenueFromSaleOfIntellectualProperty
Pharmsynthez common stock received 6,264us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationReceived1 0us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationReceived1 0us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationReceived1
Non-cash financing:      
Common Stock options and warrants, surrendered in net exercise 3,494opk_CommonStockWarrantsNetExercised 815opk_CommonStockWarrantsNetExercised 7opk_CommonStockWarrantsNetExercised
Issuance of Common Stock to acquire:      
Accounts payable 8,744us-gaap_AccountsPayableCurrent [1] 13,414us-gaap_AccountsPayableCurrent [1]  
OPKO Prolor      
Issuance of Common Stock to acquire:      
Stock Issued 0us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOProlorMember
586,643us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOProlorMember
0us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOProlorMember
OPKO Rental      
Issuance of Common Stock to acquire:      
Stock Issued 21,155us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKORentalMember
146,902us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKORentalMember
0us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKORentalMember
OPKO Brazil      
Issuance of Common Stock to acquire:      
Stock Issued 0us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOBrazilMember
436us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOBrazilMember
0us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOBrazilMember
OPKO Spain      
Issuance of Common Stock to acquire:      
Stock Issued 0us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOSpainMember
4,404us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOSpainMember
805us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOSpainMember
OPKO Lab      
Issuance of Common Stock to acquire:      
Stock Issued 0us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOLabMember
0us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOLabMember
32,888us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOLabMember
OPKO Uruguay Ltda.      
Issuance of Common Stock to acquire:      
Stock Issued 159us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOUruguayLtda.Member
0us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOUruguayLtda.Member
0us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_OPKOUruguayLtda.Member
Inspiro      
Issuance of Common Stock to acquire:      
Stock Issued 8,566us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_InspiroMedicalLtd.Member
0us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_InspiroMedicalLtd.Member
0us-gaap_StockIssued1
/ us-gaap_NoncashOrPartNoncashAcquisitionsByUniqueDescriptionAxis
= opk_InspiroMedicalLtd.Member
Conversion of Series D Preferred Stock      
Non-cash financing:      
Series D Preferred Stock 0us-gaap_ConversionOfStockAmountIssued1
/ us-gaap_ConversionOfStockByUniqueDescriptionAxis
= opk_ConversionofSeriesDPreferredStockMember
24,386us-gaap_ConversionOfStockAmountIssued1
/ us-gaap_ConversionOfStockByUniqueDescriptionAxis
= opk_ConversionofSeriesDPreferredStockMember
0us-gaap_ConversionOfStockAmountIssued1
/ us-gaap_ConversionOfStockByUniqueDescriptionAxis
= opk_ConversionofSeriesDPreferredStockMember
Conversion of Senior Notes      
Non-cash financing:      
Series D Preferred Stock $ 95,665us-gaap_ConversionOfStockAmountIssued1
/ us-gaap_ConversionOfStockByUniqueDescriptionAxis
= opk_ConversionofSeniorNotesMember
$ 20,839us-gaap_ConversionOfStockAmountIssued1
/ us-gaap_ConversionOfStockByUniqueDescriptionAxis
= opk_ConversionofSeniorNotesMember
$ 0us-gaap_ConversionOfStockAmountIssued1
/ us-gaap_ConversionOfStockByUniqueDescriptionAxis
= opk_ConversionofSeniorNotesMember
[1] As of December 31, 2014 and December 31, 2013, total assets include $7.6 million and $6.7 million, respectively, and total liabilities include $12.1 million and $10.4 million, respectively, related to SciVac, previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and SciVac’s consolidated liabilities have no recourse against us. Refer to Note 4.