XML 22 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net income (loss) $ 66.2 $ (37.4)
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation and amortization 28.3 21.5
Share-based compensation 54.6 54.7
Loss on extinguishment of debt 5.4 0.0
Non-cash interest expense 30.3 24.5
Realized loss on equity investment 0.0 4.2
Other non-cash income and expenses 3.5 (1.9)
Changes in operating assets and liabilities:    
Accounts receivable, net (10.4) 9.2
Inventory (45.5) (47.2)
Prepaid and other assets (26.6) (2.3)
Operating lease right-of-use assets and liabilities, net (1.2) (1.1)
Accounts payable and accrued liabilities 56.8 53.9
Accrued payroll and related expenses (20.8) 1.6
Deferred revenue and other liabilities 15.4 (3.4)
Net cash provided by operating activities 156.0 76.3
Cash flows from investing activities:    
Purchases of marketable securities (1,740.0) (934.5)
Proceeds from sale and maturity of marketable securities 849.5 513.8
Purchases of property and equipment (91.4) (86.2)
Other investing activities (2.8) (1.2)
Net cash used in investing activities (984.7) (508.1)
Cash flows from financing activities:    
Proceeds from issuance of convertible notes, net of issuance costs 1,188.8 0.0
Repurchase of convertible notes (282.6) 0.0
Net proceeds from issuance of common stock 6.7 5.1
Other financing activities (0.4) (0.3)
Net cash provided by financing activities 912.5 4.8
Effect of exchange rate changes on cash, cash equivalents and restricted cash (0.2) (0.3)
Increase (decrease) in cash, cash equivalents and restricted cash 83.6 (427.3)
Cash, cash equivalents and restricted cash, beginning of period 446.4 1,137.1
Cash, cash equivalents and restricted cash, end of period 530.0 709.8
Reconciliation of cash, cash equivalents and restricted cash, end of period:    
Total cash, cash equivalents and restricted cash 530.0 709.8
Supplemental disclosure of non-cash investing and financing transactions:    
Common stock issued for repurchase and conversions of senior convertible notes 1,190.0 0.0
Acquisition of property and equipment included in accounts payable and accrued liabilities 17.0 7.1
Right-of-use assets obtained in exchange for lease liabilities $ 5.3 $ 55.8