NEUROCRINE BIOSCIENCES INC
For the period ended Dec 31, 2024. Filed Feb 10, 2025.
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FY2024 · Filed Feb 10, 2025
NBIX$169.14+0.2%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2024 | 2023 | 2022 |
| Cash flows from operating activities: | |||
| Net income | $341.3 | $249.7 | $154.5 |
| Adjustments to reconcile net income to net cash from operating activities: | |||
| Stock-based compensation expense | 195.5 | 194.3 | 173.1 |
| Charges associated with convertible senior notes | 138.4 | — | 70.0 |
| Depreciation | 23.5 | 17.8 | 15.1 |
| (Accretion) amortization of (discount) premium on investments, net | (26.2) | (18.3) | 3.7 |
| Amortization of intangible assets | 3.6 | 3.5 | 0.5 |
| Changes in fair values of equity investments | 37.1 | (28.4) | (30.8) |
| Deferred income taxes | (123.1) | (56.7) | 19.1 |
| Other | 24.5 | (0.2) | 1.6 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (39.8) | (89.3) | (162.2) |
| Inventory | (19.1) | 5.4 | (2.6) |
| Accounts payable and accrued liabilities | 29.0 | 64.3 | 114.6 |
| Other assets and liabilities, net | 10.7 | 47.8 | (17.2) |
| Cash flows from operating activities | 595.4 | 389.9 | 339.4 |
| Cash flows from investing activities: | |||
| Purchases of available-for-sale debt securities | (1,056.1) | (1,379.9) | (621.2) |
| Sales and maturities of available-for-sale debt securities | 967.5 | 972.4 | 511.0 |
| Acquisition of business, net of cash acquired | — | — | (42.7) |
| Purchases of equity investments | — | (31.3) | (7.7) |
| Capital expenditures | (38.2) | (28.3) | (16.5) |
| Cash flows from investing activities | (126.8) | (467.1) | (177.1) |
| Cash flows from financing activities: | |||
| Issuances of common stock under benefit plans | 122.1 | 65.3 | 44.7 |
| Repurchases of common stock under accelerated buyback agreements | (300.0) | — | — |
| Payments associated with convertible senior notes | (308.8) | — | (279.0) |
| Cash flows from financing activities | (486.7) | 65.3 | (234.3) |
| Effect of exchange rate changes on cash and cash equivalents | — | 0.3 | (1.3) |
| Change in cash and cash equivalents and restricted cash | (18.1) | (11.6) | (73.3) |
| Cash, cash equivalents and restricted cash at beginning of period | 259.1 | 270.7 | 344.0 |
| Cash, cash equivalents and restricted cash at end of period | $241.0 | $259.1 | $270.7 |
| Supplemental Disclosure: | |||
| Accrued capital expenditures | $2.2 | $2.5 | $0.7 |
| Right-of-use assets acquired through operating leases | $271.6 | $200.8 | $— |
| Cash paid for interest | $1.6 | $3.8 | $6.6 |
| Cash paid for income taxes | $217.5 | $51.5 | $14.4 |
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