Amphastar Pharmaceuticals Inc

For the period ended Dec 31, 2024. Filed Mar 3, 2025.

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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.

FY2024 · Filed Mar 3, 2025

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,
	2024		2023		2022
Cash Flows From Operating Activities:
Net income		$159,519		$137,545		$91,386
Reconciliation to net cash provided by operating activities:
Loss on disposal of assets		9		475		141
Impairment of long-lived assets		—		2,700		—
Loss (gain) on interest rate swaps and foreign currency transactions, net		(2,792)		5,330		(2,196)
Depreciation of property, plant, and equipment		28,249		25,205		23,815
Amortization of intangible assets		24,718		12,830		954
Operating lease right-of-use asset amortization		4,238		3,742		3,506
Amortization of discounts, premiums, and debt issuance costs		6,032		11,399		466
Equity in losses of unconsolidated affiliate		573		1,981		1,177
Share-based compensation expense		24,368		20,242		17,860
Changes in reserve for uncertain tax positions		891		(1,159)		694
Changes in deferred taxes, net		(17,872)		(12,578)		(16,445)
Changes in operating assets and liabilities:
Accounts receivable, net		(21,671)		(26,086)		(10,132)
Inventories		(48,797)		(1,724)		(11,746)
Prepaid expenses and other assets		(10,726)		(2,728)		(1,854)
Income tax refunds, deposits, and payable, net		6,834		(3,319)		(4,555)
Operating lease liabilities		(3,750)		(3,589)		(3,154)
Accounts payable and accrued liabilities		63,563		13,237		(736)
Net cash provided by operating activities		213,386		183,503		89,181

Cash Flows From Investing Activities:
BAQSIMI® acquisition (see Note 3)		(129,000)		(506,406)		—
Purchases and construction of property, plant, and equipment		(41,041)		(38,166)		(24,034)
Proceeds from the sale of property, plant and equipment		—		—		421
Purchase of investments		(76,792)		(144,556)		(35,761)
Maturity of investments		126,022		38,622		27,969
Deposits and other assets		(4,119)		1,390		(1,372)
Net cash used in investing activities		(124,930)		(649,116)		(32,777)

Cash Flows From Financing Activities:
Proceeds from equity plans, net of withholding tax payments		(4,849)		10,974		15,658
Purchase of treasury stock		(85,458)		(58,144)		(39,909)
Debt issuance costs		(816)		(25,079)		(407)
Proceeds from borrowing under lines of credit		18,433		—		—
Proceeds from issuance of long-term debt		—		845,000		—
Principal payments on long-term debt		(8,263)		(318,658)		(1,781)
Net cash provided by (used in) financing activities		(80,953)		454,093		(26,439)

Effect of exchange rate changes on cash		(190)		(282)		(220)

Net increase (decrease) in cash, cash equivalents, and restricted cash		7,313		(11,802)		29,745

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

Cash, cash equivalents, and restricted cash at end of period		$151,844		$144,531		$156,333

Noncash Investing and Financing Activities:
Deferred payment for BAQSIMI® acquisition		$—		$121,699		$—
Capital expenditures included in accounts payable		$5,622		$4,454		$5,256
Operating lease right-of-use assets in exchange for operating lease liabilities		$18,804		$10,521		$2,166
Equipment acquired under finance leases		$—		$—		$642

Supplemental Disclosures of Cash Flow Information:
Interest paid, net of capitalized interest		$26,811		$17,573		$3,023
Income taxes paid		$40,104		$49,001		$44,442

See accompanying notes to consolidated financial statements

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