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Indirect Cash Flow (Tables) | 12 Months Ended
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Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract] |
Schedule of Cash Flow, Supplemental Disclosures | Adjustments to reconcile consolidated net income to net cash provided by operating activities are summarized below (in thousands).
| Years Ended December 31,
| 2021 |  | 2020 |  | 2019
Cash flow from operating activities: |  |  |  |  |
Consolidated net income | $ | 1,241,201 |  |  | $ | 1,701,954 |  |  | $ | 2,461,419 |
Adjustments to reconcile consolidated net income to net cash provided by operating activities: |  |  |  |  |
Income from financial royalty assets | (2,065,083) |  |  | (1,959,975) |  |  | (1,648,837) |
Provision for changes in expected cash flows from financial royalty assets | 452,842 |  |  | 230,839 |  |  | (1,019,321) |
Amortization of intangible assets | 22,996 |  |  | 23,058 |  |  | 23,924 |
Amortization of debt discount and issuance costs | 20,162 |  |  | 11,715 |  |  | 12,790 |
Losses on derivative financial instruments | 21,532 |  |  | 42,076 |  |  | 39,138 |
Losses/(gains) on equity securities | 48,066 |  |  | (247,073) |  |  | (155,749) |
Equity in losses/(earnings) of non-consolidated affiliates | 19,490 |  |  | (44,459) |  |  | 32,517 |
Distributions from non-consolidated affiliates | 34,384 |  |  | 42,334 |  |  | 14,059 |
Loss on extinguishment of debt | 358 |  |  | 30,272 |  |  | — |
Share-based compensation | 2,443 |  |  | 5,428 |  |  | — |
Interest income accretion | (50,896) |  |  | (20,551) |  |  | — |
Unrealized gains on available for sale debt securities | (17,859) |  |  | (18,600) |  |  | — |
Impairment charge | — |  |  | 65,053 |  |  | — |
Termination of derivative financial instruments | (16,093) |  |  | (34,952) |  |  | — |
Other | 4,461 |  |  | 9,621 |  |  | (2,122) |
Decrease/(increase) in operating assets: |  |  |  |  |
Cash collected on financial royalty assets | 2,315,854 |  |  | 2,121,923 |  |  | 1,934,092 |
Available for sale debt securities | — |  |  | — |  |  | (150,000) |
Accrued royalty receivable | (20,131) |  |  | 370 |  |  | 2,471 |
Other receivables | — |  |  | — |  |  | 150,000 |
Other royalty income receivable | (9,012) |  |  | (770) |  |  | 7,390 |
Other current assets and other assets | 1,857 |  |  | 34,986 |  |  | (41,028) |
(Decrease)/increase in operating liabilities: |  |  |  |  |
Accounts payable and accrued expenses | (4,586) |  |  | (766) |  |  | 6,496 |
Interest payable | 15,550 |  |  | 42,146 |  |  | — |
Net cash provided by operating activities | $ | 2,017,536 |  |  | $ | 2,034,629 |  |  | $ | 1,667,239 |
Non-cash investing and financing activities are summarized below (in thousands).
| Years Ended December 31,
Supplemental Schedule of Non-cash Investing/Financing Activities: | 2021 |  | 2020 |  | 2019
Receipt of contribution of investment in Legacy Investors Partnerships (Note 9) | $ | — |  |  | $ | 303,679 |  |  | $ | — |
Settlement of Epizyme forward purchase contract | — |  |  | 5,700 |  |  | — |
Accrued purchase obligation - Tazverik (Note 17) | — |  |  | 110,000 |  |  | — |
Repayments of long-term debt by contributions from non-controlling interest (1) | — |  |  | 1,103,774 |  |  | — |
Milestone payable - Erleada (2) | — |  |  | 18,600 |  |  | — |
(1) Related to the pro rata portion of RPIFT’s outstanding debt repaid by the Legacy Investors Partnerships.
(2) Related to the achievement of a sales-based milestone that was not paid as of December 31, 2020 as recorded within Other current liabilities on the consolidated balance sheet.

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