BIOMARIN PHARMACEUTICAL INC
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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FY2023 · Filed Feb 26, 2024
BMRN$57.13-0.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands of U.S. dollars)
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $167,645 | $141,561 | $(64,080) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | |||
| Depreciation and amortization | 104,386 | 101,969 | 108,039 |
| Non-cash interest expense | 4,188 | 4,117 | 4,146 |
| Amortization of premium (accretion of discount) on investments | (9,228) | 3,043 | 5,155 |
| Stock-based compensation | 207,099 | 196,308 | 197,263 |
| Gain on sale of nonfinancial assets, net | — | (108,000) | — |
| Impairment of assets | 38,608 | — | — |
| Deferred income taxes | (44,981) | (52,087) | (15,608) |
| Unrealized foreign exchange loss (gain) | 28,446 | (14,287) | (1,810) |
| Non-cash changes in the fair value of contingent consideration | — | 1,704 | 8,026 |
| Other | (365) | (2,043) | (2,629) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (190,435) | (82,033) | 65,574 |
| Inventory | (157,058) | (68,264) | (35,060) |
| Other current assets | (50,335) | 7,822 | 29,760 |
| Other assets | (31,149) | (19,859) | (6,593) |
| Accounts payable and other short-term liabilities | 68,853 | 59,018 | 15,689 |
| Other long-term liabilities | 23,585 | 6,933 | (3,336) |
| Net cash provided by operating activities | 159,259 | 175,902 | 304,536 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of property, plant and equipment | (96,691) | (120,959) | (95,578) |
| Maturities and sales of investments | 864,863 | 619,995 | 691,049 |
| Purchases of investments | (868,496) | (611,809) | (937,143) |
| Proceeds from sale of nonfinancial assets | — | 103,325 | — |
| Purchase of intangible assets | (10,920) | (10,581) | (23,647) |
| Other | — | — | (994) |
| Net cash used in investing activities | (111,244) | (20,029) | (366,313) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from exercises of awards under equity incentive plans | 69,353 | 69,333 | 49,194 |
| Taxes paid related to net share settlement of equity awards | (76,319) | (54,283) | (45,805) |
| Payments of contingent consideration | (9,475) | (31,095) | — |
| Principal repayments of financing leases | (2,286) | (2,605) | (3,039) |
| Other | — | — | (398) |
| Net cash used in financing activities | (18,727) | (18,650) | (48) |
| Effect of exchange rate changes on cash | 1,308 | 32 | (57) |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 30,596 | 137,255 | (61,882) |
| Cash and cash equivalents: | |||
| Beginning of period | 724,531 | 587,276 | 649,158 |
| End of period | $755,127 | $724,531 | $587,276 |
| SUPPLEMENTAL CASH FLOW DISCLOSURES: | |||
| Cash paid for interest | $10,303 | $10,281 | $10,395 |
| Cash paid for income taxes | $73,312 | $54,372 | $18,153 |
| SUPPLEMENTAL CASH FLOW DISCLOSURES FOR NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
| Increase (decrease) in accounts payable and accrued liabilities related to fixed assets | $164 | $(1,482) | $(4,749) |
| Increase in accounts payable and accrued liabilities related to intangible assets | $6,904 | $742 | $9,428 |
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