Alkermes plc
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
ALKS$46.47+0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| (In thousands) | |||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $355,757 | $(158,267) | $(48,169) |
| Adjustments to reconcile net income (loss) to cash flows from operating activities: | |||
| Depreciation and amortization | 74,927 | 77,862 | 78,652 |
| Share-based compensation expense | 100,905 | 94,254 | 87,622 |
| Deferred income taxes | (99,902) | (32,795) | 5,081 |
| Change in the fair value of contingent consideration | — | 21,750 | 1,427 |
| Other non-cash charges | 6,329 | 5,531 | 2,650 |
| Changes in assets and liabilities: | |||
| Receivables | (44,510) | 25,250 | (38,011) |
| Contract assets | 8,223 | 4,434 | 6,037 |
| Inventory | (2,712) | (31,021) | (24,769) |
| Prepaid expenses and other assets | (34,847) | (5,328) | 11,481 |
| Right-of-use assets | 15,387 | 16,569 | 17,051 |
| Accounts payable and accrued expenses | 23,009 | 15,534 | 11,514 |
| Accrued sales discounts, allowances and reserves | 11,526 | 14,899 | 18,339 |
| Contract liabilities | (5,926) | (7,129) | (6,080) |
| Operating lease liabilities | (16,147) | (33,225) | (16,777) |
| Other long-term liabilities | 9,334 | 12,726 | (4,333) |
| Cash flows provided by operating activities | 401,353 | 21,044 | 101,715 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Additions of property, plant and equipment | (48,048) | (38,255) | (28,020) |
| Proceeds from the sale of equipment | 354 | — | 287 |
| Proceeds from contingent consideration | — | 1,273 | 7,937 |
| Return of Fountain Healthcare Partners II, L.P. investment | — | 485 | — |
| Payment made for licensed Intellectual Property ("IP") | — | — | (1,000) |
| Purchases of investments | (254,471) | (309,671) | (340,418) |
| Sales and maturities of investments | 355,522 | 281,627 | 295,010 |
| Cash flows provided by (used in) investing activities | 53,357 | (64,541) | (66,204) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Cash transferred to Mural Oncology plc at separation | (275,000) | — | — |
| Proceeds from the issuance of ordinary shares under share-based compensation arrangements | 16,760 | 19,630 | 25,319 |
| Employee taxes paid related to net share settlement of equity awards | (28,474) | (18,204) | (16,571) |
| Proceeds from the issuance of long-term debt | — | — | 23,567 |
| Payment made for debt extinguishment | — | — | (993) |
| Principal payments of long-term debt | (3,000) | (3,000) | (2,250) |
| Cash flows (used in) provided by financing activities | (289,714) | (1,574) | 29,072 |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 164,996 | (45,071) | 64,583 |
| CASH AND CASH EQUIVALENTS—Beginning of period | 292,473 | 337,544 | 272,961 |
| CASH AND CASH EQUIVALENTS—End of period | $457,469 | $292,473 | $337,544 |
| SUPPLEMENTAL CASH FLOW DISCLOSURE: | |||
| Cash paid for interest | $22,748 | $13,563 | $6,904 |
| Cash paid for taxes | $44,243 | $20,749 | $1,888 |
| Non-cash investing and financing activities: | |||
| Purchased capital expenditures included in accounts payable and accrued expenses | $2,645 | $2,950 | $6,025 |
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