BIOMARIN PHARMACEUTICAL INC
For the period ended Dec 31, 2024. Filed Feb 24, 2025.
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FY2024 · Filed Feb 24, 2025
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)
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $426,859 | $167,645 | $141,561 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 96,426 | 104,386 | 101,969 |
| Non-cash interest expense | 3,359 | 4,188 | 4,117 |
| Amortization of premium (accretion of discount) on investments | (8,345) | (9,228) | 3,043 |
| Stock-based compensation | 201,571 | 207,099 | 196,308 |
| Gain on sale of nonfinancial assets | (10,000) | — | (108,000) |
| Impairment of assets and other non-cash adjustments | 19,889 | 38,608 | — |
| Deferred income taxes | 56,096 | (44,981) | (52,087) |
| Unrealized foreign exchange loss (gain) | (16,753) | 28,446 | (14,287) |
| Non-cash changes in the fair value of contingent consideration | — | — | 1,704 |
| Other | 20,135 | (365) | (2,043) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (57,909) | (190,435) | (82,033) |
| Inventory | (63,530) | (157,058) | (68,264) |
| Other current assets | (3,778) | (50,335) | 7,822 |
| Other assets | (73,700) | (31,149) | (19,859) |
| Accounts payable and other short-term liabilities | (32,240) | 68,853 | 59,018 |
| Other long-term liabilities | 14,761 | 23,585 | 6,933 |
| Net cash provided by operating activities | 572,841 | 159,259 | 175,902 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of property, plant and equipment | (85,424) | (96,691) | (120,959) |
| Maturities and sales of investments | 633,018 | 864,863 | 619,995 |
| Purchases of investments | (410,250) | (868,496) | (611,809) |
| Proceeds from sale of nonfinancial assets | 10,000 | — | 103,325 |
| Purchase of intangible assets | (11,994) | (10,920) | (10,581) |
| Other | 1,141 | — | — |
| Net cash provided by (used in) investing activities | 136,491 | (111,244) | (20,029) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from exercises of awards under equity incentive plans | 49,277 | 69,353 | 69,333 |
| Taxes paid related to net share settlement of equity awards | (77,560) | (76,319) | (54,283) |
| Repayments of convertible debt | (494,987) | — | — |
| Payments of contingent consideration | — | (9,475) | (31,095) |
| Other | (3,177) | (2,286) | (2,605) |
| Net cash used in financing activities | (526,447) | (18,727) | (18,650) |
| Effect of exchange rate changes on cash | 4,830 | 1,308 | 32 |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 187,715 | 30,596 | 137,255 |
| Cash and cash equivalents: | |||
| Beginning of period | $755,127 | $724,531 | $587,276 |
| End of period | $942,842 | $755,127 | $724,531 |
| SUPPLEMENTAL CASH FLOW DISCLOSURES: | |||
| Cash paid for interest | $10,361 | $10,303 | $10,281 |
| Cash paid for income taxes | $57,269 | $73,312 | $54,372 |
| SUPPLEMENTAL CASH FLOW DISCLOSURES FOR NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
| Increase (decrease) in accounts payable and accrued liabilities related to fixed assets | $(6,730) | $164 | $(1,482) |
| Increase (decrease) in accounts payable and accrued liabilities related to intangible assets | $(617) | $6,904 | $742 |
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