Amphastar Pharmaceuticals Inc

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

AMPH$29.06-1.1%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)


· · Year Ended December 31,
· 2023 · 2022 · 2021
Cash Flows From Operating Activities:
Net income	$137,545	$91,386	$63,301
Reconciliation to net cash provided by operating activities:
Loss on disposal of assets	475	141	348
Gain on deconsolidation of subsidiary	—	—	(13,587)
Impairment of long-lived assets	2,700	—	—
Loss (gain) on interest rate swaps and foreign currency transactions, net	5,330	(2,196)	27
Depreciation of property, plant, and equipment	25,205	23,815	22,196
Amortization of product rights, trademarks, and patents	12,830	954	1,071
Operating lease right-of-use asset amortization	3,742	3,506	3,266
Amortization of discounts, premiums, and debt issuance costs	11,399	466	219
Equity in losses of unconsolidated affiliate	1,981	1,177	208
Share-based compensation expense	20,242	17,860	18,687
Changes in reserve for uncertain tax positions	(1,159)	694	1,821
Changes in deferred taxes, net	(12,578)	(16,445)	2,388
Changes in operating assets and liabilities:
Accounts receivable, net	(26,086)	(10,132)	(14,921)
Inventories	(1,724)	(11,746)	1,258
Prepaid expenses and other assets	(2,728)	(1,854)	2,927
Income tax refunds, deposits, and payable, net	(3,319)	(4,555)	8,349
Operating lease liabilities	(3,589)	(3,154)	(3,198)
Accounts payable and accrued liabilities	13,237	(736)	3,634
Net cash provided by operating activities	183,503	89,181	97,994

Cash Flows From Investing Activities:
BAQSIMI® acquisition (See Note 4)	(506,406)	—	—
Purchases and construction of property, plant, and equipment	(38,166)	(24,034)	(27,456)
Proceeds from the sale of property, plant and equipment	—	421	—
Purchase of investments	(144,556)	(35,761)	(17,375)
Maturity of investments	38,622	27,969	18,771
Deposits and other assets	1,390	(1,372)	(2,612)
Net cash used in investing activities	(649,116)	(32,777)	(28,672)

Cash Flows From Financing Activities:
ANP restructuring (see Note 3)	—	—	(53,592)
Proceeds from equity plans, net of withholding tax payments	10,974	15,658	15,925
Purchase of treasury stock	(58,144)	(39,909)	(28,873)
Settlement of ANP equity awards	—	—	(839)
Debt issuance costs	(25,079)	(407)	(1,738)
Repayments under lines of credit	—	—	(1,161)
Proceeds from issuance of long-term debt	845,000	—	70,000
Principal payments on long-term debt	(318,658)	(1,781)	(36,740)
Net cash provided by (used in) financing activities	454,093	(26,439)	(37,018)

Effect of exchange rate changes on cash	(282)	(220)	(223)

Net (decrease) increase in cash, cash equivalents, and restricted cash	(11,802)	29,745	32,081

Cash, cash equivalents, and restricted cash at beginning of period	156,333	126,588	94,507

Cash, cash equivalents, and restricted cash at end of period	$144,531	$156,333	$126,588

Noncash Investing and Financing Activities:
Deferred payment for BAQSIMI® acquisition	$121,699	$—	$—
Capital expenditures included in accounts payable	$4,454	$5,256	$9,488
Operating lease right-of-use assets in exchange for operating lease liabilities	$10,521	$2,166	$11,041
Equipment acquired under finance leases	$—	$642	$107

Supplemental Disclosures of Cash Flow Information:
Interest paid, net of capitalized interest	$17,573	$3,023	$2,109
Income taxes paid	$49,001	$44,442	$8,096

See accompanying notes to consolidated financial statements

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