Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net loss $ (25,083) $ (31,428) $ (174,638)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 96,576 42,248 14,927
Non-cash interest 2,699 2,612 5,662
Amortization of deferred financing costs 237 1,212 2,007
Losses from investments in investees 7,652 7,105 3,587
Equity-based compensation – employees and non-employees 42,693 26,074 14,779
Revenue from receipt of equity 0 (140) (240)
Realized loss on equity securities and disposal of fixed assets 2,321 7,091 167
Loss (gain) on conversion of 3.00% convertible senior notes 284 (943) (2,668)
Change in fair value of derivative instruments (2,778) 39,083 10,632
In-process research and development 0 0 12,055
Change in fair value of contingent consideration 16,954 5,050 24,446
Gain on deconsolidation of SciVac 0 (15,940) 0
Deferred income tax (benefit) provision (66,300) (123,536) 1,017
Changes in assets and liabilities, net of the effects of acquisitions:      
Accounts receivable, net (25,637) (4,845) (3,273)
Inventory, net (6,607) (4,953) (670)
Other current assets and prepaid expenses 17,262 (4,391) 3,182
Other assets (1,899) (305) (3,378)
Accounts payable (19,819) (18,122) (3,852)
Foreign currency measurement (376) 979 945
Deferred revenue (74,169) 227,671 0
Accrued expenses and other liabilities 68,036 9,502 4,934
Net cash provided by (used in) operating activities 32,046 164,024 (90,379)
Cash flows from investing activities:      
Investments in investees (14,424) (4,375) (589)
Proceeds from sale of equity securities 0 0 1,331
Acquisition of businesses, net of cash acquired 15,878 (79,000) (1,683)
Acquisition of intangible assets (5,000) (5,000) 0
Purchase of marketable securities (15,644) 0 0
Maturities of short-term marketable securities 15,634 0 0
Proceeds from the sale of property, plant and equipment 1,401 0 0
Capital expenditures (18,547) (10,846) (4,734)
Net cash used in investing activities (20,702) (99,221) (5,675)
Cash flows from financing activities:      
Proceeds from the exercise of Common Stock options and warrants 8,576 25,921 12,928
Cash from non-controlling interest 0 100 2,696
Contingent consideration payments 0 0 (6,435)
Borrowings on lines of credit 22,407 261,339 26,443
Repayments of lines of credit (66,178) (254,355) (28,369)
Net cash (used in) provided by financing activities (35,195) 33,005 7,263
Effect of exchange rate changes on cash and cash equivalents (1,014) (1,117) (100)
Net (decrease) increase in cash and cash equivalents (24,865) 96,691 (88,891)
Cash and cash equivalents at beginning of period 193,598 96,907 185,798
Cash and cash equivalents at end of period 168,733 193,598 96,907
SUPPLEMENTAL INFORMATION:      
Interest paid 2,890 4,572 6,276
Income taxes paid, net (27,122) 4,879 954
Pharmsynthez common stock received 0 0 6,264
Non-cash financing:      
Shares issued upon the conversion of Common Stock options and warrants, surrendered in net exercise 350 14,369 3,494
Transition Therapeutics, Inc.      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 58,530 0 0
Bio-Reference Laboratories, Inc.      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 0 950,148 0
EirGen Pharma Limited      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 0 33,569 0
OPKO Renal      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 25,986 20,113 21,155
OPKO Health Europe      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 313 1,813 0
OPKO Uruguay Ltda.      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 0 0 159
Inspiro      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 0 0 8,566
Issuance of stock for investment in Xenetic      
Issuance of capital stock to acquire or contingent consideration settlement:      
Capital stock issued 4,856 0 0
2033 Senior Notes      
Non-cash financing:      
Shares issued, amount $ 583 $ 120,299 $ 95,665