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Indirect Cash Flow (Tables) | 12 Months Ended
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Dec. 31, 2022
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,
| 2022 |  | 2021 |  | 2020
Cash flow from operating activities: |  |  |  |  |
Consolidated net income | $ | 230,064 |  |  | $ | 1,241,201 |  |  | $ | 1,701,954 |
Adjustments to reconcile consolidated net income to net cash provided by operating activities: |  |  |  |  |
Income from financial royalty assets | (2,125,096) |  |  | (2,065,083) |  |  | (1,959,975) |
Provision for changes in expected cash flows from financial royalty assets | 904,244 |  |  | 452,842 |  |  | 230,839 |
Amortization of intangible assets | 5,670 |  |  | 22,996 |  |  | 23,058 |
Amortization of debt discount and issuance costs | 21,356 |  |  | 20,162 |  |  | 11,715 |
(Gains)/losses on derivative financial instruments | (96,610) |  |  | 21,532 |  |  | 42,076 |
Losses/(gains) on equity securities | 33,442 |  |  | 48,066 |  |  | (247,073) |
Equity in losses/(earnings) of equity method investees | 8,973 |  |  | 19,490 |  |  | (44,459) |
Distributions from equity method investees | 39,142 |  |  | 34,384 |  |  | 42,334 |
Loss on extinguishment of debt | 419 |  |  | 358 |  |  | 30,272 |
Share-based compensation | 2,170 |  |  | 2,443 |  |  | 5,428 |
Interest income accretion | (53,432) |  |  | (50,896) |  |  | (20,551) |
Losses/(gains) on available for sale debt securities | 6,815 |  |  | (17,859) |  |  | (18,600) |
Financial royalty asset impairment | 615,827 |  |  | — |  |  | 65,053 |
Termination of derivative financial instruments | — |  |  | (16,093) |  |  | (34,952) |
Other | 11,098 |  |  | 4,461 |  |  | 9,621 |
Decrease/(increase) in operating assets: |  |  |  |  |
Cash collected on financial royalty assets | 2,507,236 |  |  | 2,315,854 |  |  | 2,121,923 |
Accrued royalty receivable | 36,456 |  |  | (20,131) |  |  | 370 |
Other royalty income receivable | (4,744) |  |  | (9,012) |  |  | (770) |
Other current assets | 2,198 |  |  | 1,857 |  |  | 34,986 |
Increase/(decrease) in operating liabilities: |  |  |  |  |
Accounts payable and accrued expenses | 2,286 |  |  | (4,586) |  |  | (766) |
Interest payable | (3,534) |  |  | 15,550 |  |  | 42,146 |
Net cash provided by operating activities | $ | 2,143,980 |  |  | $ | 2,017,536 |  |  | $ | 2,034,629 |
Non-cash investing and financing activities are summarized below (in thousands).
| Years Ended December 31,
Supplemental Schedule of Non-cash Investing/Financing Activities: | 2022 |  | 2021 |  | 2020
Receipt of contribution of investment in Legacy Investors Partnerships (Note 9) | $ | — |  |  | $ | — |  |  | $ | 303,679 |
Settlement of Epizyme forward purchase contract (Note 4) | — |  |  | — |  |  | 5,700 |
Accrued purchase obligation - Tazverik (1) | — |  |  | — |  |  | 110,000 |
Repayments of long-term debt by contributions from non-controlling interests (2) | — |  |  | — |  |  | 1,103,774 |
Milestone payable - Erleada (3) | 12,400 |  |  | — |  |  | 18,600 |
(1)Related to our obligation under our agreement with Eisai to fund the final tranche of the Tazverik royalty for $110.0 million following the June 2020 FDA approval of additional indications of Tazverik. (2)Related to the pro rata portion of RPIFT’s outstanding debt repaid by the Legacy Investors Partnerships. (3)Related to the achievement of sales-based milestones that were not paid as of December 31, 2022 and 2020.

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