Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
| Cash flows from operating activities: |
|
|
|
| Net income |
$ 1,176,810
|
$ 2,087,103
|
$ 91,635
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Stock-based compensation expense |
360,489
|
325,047
|
293,236
|
| Depreciation expense |
106,941
|
72,420
|
61,397
|
| Deferred income taxes (including benefit from valuation allowance release in 2018) |
167,387
|
(1,512,325)
|
(120,513)
|
| Gains on equity securities |
(197,597)
|
(2,558)
|
0
|
| Increase in fair value of contingent consideration |
4,459
|
0
|
0
|
| Intangible asset impairment charges |
0
|
29,000
|
255,340
|
| Acquired in-process research and development |
0
|
0
|
160,000
|
| Deconsolidation of VIE |
0
|
1,077
|
76,644
|
| Other non-cash items, net |
16,942
|
32,502
|
14,439
|
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable, net |
(225,587)
|
(108,152)
|
(71,759)
|
| Inventories |
(64,047)
|
(31,965)
|
(47,484)
|
| Prepaid expenses and other assets |
35,440
|
16,684
|
(111,063)
|
| Accounts payable |
(22,785)
|
36,554
|
8,753
|
| Accrued expenses |
172,881
|
302,755
|
255,178
|
| Other liabilities |
37,997
|
22,144
|
(20,861)
|
| Net cash provided by operating activities |
1,569,330
|
1,270,286
|
844,942
|
| Cash flows from investing activities: |
|
|
|
| Payments to acquire businesses, net of cash acquired |
(1,154,212)
|
0
|
0
|
| Purchases of available-for-sale debt securities |
(537,196)
|
(431,918)
|
|
| Purchases of available-for-sale debt securities |
|
|
(532,581)
|
| Maturities of available-for-sale debt securities |
475,924
|
431,576
|
369,214
|
| Sale of equity securities |
94,936
|
0
|
0
|
| Expenditures for property and equipment |
(75,451)
|
(95,524)
|
(99,421)
|
| Investment in equity securities |
(39,319)
|
(83,471)
|
0
|
| Investment in note receivable |
0
|
(15,000)
|
0
|
| Decrease in restricted cash due to deconsolidation of VIE |
|
(7,896)
|
(61,602)
|
| Purchase of in-process research and development |
0
|
0
|
(160,000)
|
| Other investing activities |
0
|
75
|
1,061
|
| Net cash used in investing activities |
(1,235,318)
|
(202,158)
|
(483,329)
|
| Cash flows from financing activities: |
|
|
|
| Issuances of common stock under benefit plans |
343,244
|
289,293
|
344,840
|
| Repurchases of common stock |
(192,015)
|
(350,043)
|
0
|
| Payments on finance leases |
(39,185)
|
|
|
| Advance from collaborator |
12,500
|
7,500
|
12,500
|
| Proceeds related to capital lease and construction financing lease obligations |
10,046
|
20,840
|
34,666
|
| Repayments of advanced funding |
(5,866)
|
(5,027)
|
(4,266)
|
| Payments on capital lease and construction financing lease obligations |
0
|
(33,388)
|
(19,336)
|
| Payments on revolving credit facility |
0
|
0
|
(300,000)
|
| Other financing activities |
(1,951)
|
(394)
|
0
|
| Net cash provided by (used in) financing activities |
126,773
|
(71,219)
|
68,404
|
| Effect of changes in exchange rates on cash |
1,643
|
(6,182)
|
5,802
|
| Net increase in cash, cash equivalents and restricted cash |
462,428
|
990,727
|
435,819
|
| Cash, cash equivalents and restricted cash—beginning of period |
2,658,253
|
1,667,526
|
1,231,707
|
| Cash, cash equivalents and restricted cash—end of period |
3,120,681
|
2,658,253
|
1,667,526
|
| Supplemental disclosure of cash flow information: |
|
|
|
| Cash paid for interest |
55,554
|
66,458
|
68,696
|
| Cash paid for income taxes |
24,730
|
12,402
|
6,414
|
| Capitalization of costs related to construction financing lease obligation |
0
|
3,389
|
40,855
|
| Issuances of common stock from employee benefit plans receivable |
$ 2,820
|
$ 86
|
$ 844
|