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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (644,786) $ (881,708) $ (2,003,815)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization expense 171,762 87,675 66,278
Share-based compensation expense 441,618 367,618 303,162
Acquired in-process research and development 60,000 46,800 68,665
Amortization of research and development cost share liability (73,226) (55,294) (96,402)
Unrealized losses on long-term investments 24,022 16,221 21,996
Deferred income tax expense 25,983 689 2,059
Gain on BMS termination settlement 0 (362,917) 0
Other items, net 11,163 (5,998) 9,047
Changes in operating assets and liabilities:      
Accounts receivable (329,443) (188,306) 304,112
Inventories (91,496) (140,948) (56,689)
Other assets 45,126 12,120 (3,282)
Accounts payable 121,497 21,484 (4,352)
Accrued expenses and other payables 111,354 180,111 45,627
Deferred revenue 633 (255,587) (151,816)
Other liabilities (14,838) 587 (1,209)
Net cash used in operating activities (140,631) (1,157,453) (1,496,619)
Cash flows from investing activities:      
Purchases of property and equipment (492,663) (561,896) (325,434)
Proceeds from sale or maturity of short-term investments 2,655 673,240 1,563,618
Purchase of in-process research and development (31,800) (15,000) (143,665)
Purchase of intangible assets (4,674) (19,365) 0
Purchase of long-term investments (19,006) (14,900) (15,911)
Other investing activities (2,862) (2,075) (1,485)
Net cash (used in) provided by investing activities (548,350) 60,004 1,077,123
Cash flows from financing activities:      
Proceeds from long-term loan 9,053 22,502 37,372
Repayment of long-term loan (28,031) (13,690) 0
Proceeds from short-term loans 868,270 661,530 313,774
Repayment of short-term loans (704,216) (309,576) (417,081)
Proceeds from option exercises and employee share purchase plan 45,373 55,712 46,964
Other financing activities 3,000 0 0
Net cash provided by (used in) financing activities 193,449 416,478 (18,971)
Effect of foreign exchange rate changes, net (51,705) (8,082) (69,383)
Net decrease in cash, cash equivalents, and restricted cash (547,237) (689,053) (507,850)
Cash, cash equivalents, and restricted cash, beginning of year 3,185,984 3,875,037 4,382,887
Cash, cash equivalents, and restricted cash, end of year 2,638,747 3,185,984 3,875,037
Supplemental cash flow disclosures:      
Cash and cash equivalents 2,627,410 3,171,800 3,869,564
Short-term restricted cash 9,312 11,473 196
Long-term restricted cash 2,025 2,711 5,277
Income taxes paid 69,430 56,003 29,500
Interest paid 51,175 19,753 25,169
Supplemental non-cash activities:      
Accruals for capital expenditures 70,314 91,804 95,346
Purchase of in-process research and development included in accounts payable $ 60,000 $ 31,800 $ 0