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v3.20.1

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2020 | Mar. 31, 2019
Cash Flows from Operating Activities: |  |
Net income (loss) | $ 37.4 | $ (102.1)
Reconciliation of net income (loss) to net cash provided by (used in) operating activities: |  |
Share-based compensation expense | 22.8 | 15.8
Depreciation | 2.1 | 1.6
Amortization of debt discount | 5.0 | 4.6
Amortization of debt issuance costs | 0.3 | 0.3
Change in fair value of equity security investments | 16.5 | (1.7)
Other | 0.4 | (0.2)
Change in operating assets and liabilities: |  |
Accounts receivable | (22.1) | (15.7)
Inventory | (3.9) | (1.8)
Accounts payable and accrued liabilities | (16.2) | (16.6)
Other current assets and liabilities, net | (4.1) | 3.3
Net cash provided by (used in) operating activities | 38.2 | (112.5)
Cash Flows from Investing Activities: |  |
Purchases of debt securities available-for-sale | (172.0) | (116.3)
Sales and maturities of debt securities available-for-sale | 206.5 | 215.9
Purchases of equity securities |  | (54.7)
Purchases of property and equipment | (1.3) | (3.9)
Net cash provided by investing activities | 33.2 | 41.0
Cash Flows from Financing Activities: |  |
Issuance of common stock | 3.3 | 2.6
Net cash provided by financing activities | 3.3 | 2.6
Change in cash and cash equivalents and restricted cash | 74.7 | (68.9)
Cash and cash equivalents and restricted cash at beginning of period | 115.5 | 147.2
Cash and cash equivalents and restricted cash at end of period | 190.2 | 78.3
Supplemental Disclosure: |  |
Non-cash capital expenditures | $ 0.8 | $ 0.6

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