← LIGAND PHARMACEUTICALS INC

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent ($1.6m) $12.6m $143.3m $629.3m ($3.0m) $57.1m ($33.4m) $52.2m ($4.0m) $124.5m
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest ($1.6m) $12.6m $143.3m $629.3m ($3.0m) $57.1m ($33.4m) — — —
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent — — — — — — ($5.2m) $53.8m ($4.0m) $124.5m
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest ($2.4m) $12.6m $143.3m — — — — — — —
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent — — — — — — ($28.1m) ($1.7m) — —
Net Income (Loss) Attributable to Noncontrolling Interest $0 $0 — — — — — — — —
Depreciation, Depletion and Amortization $11.3m $11.7m $14.7m $18.4m $25.7m $51.1m $51.5m $36.5m $35.2m $33.8m
Depreciation $200k $400k $900k $1.5m $1.8m $3.9m $3.8m $2.9m $2.3m $1.0m
Amortization of Debt Issuance Costs and Discounts $10.9m $11.6m $44.0m $30.0m $23.1m $16.7m $734k $240k $486k $1.3m
Amortization of Intangible Assets $10.6m $11.3m $15.8m $16.9m $23.4m $47.2m $51.5m $36.5m $35.2m $33.8m
Deferred Income Tax Expense (Benefit) — — — — — ($8.6m) $30.5m $10.0m ($15.8m) $21.9m
Share-based Payment Arrangement, Noncash Expense $18.9m $24.9m $20.8m $24.5m $30.7m $38.8m $60.3m $25.7m $41.1m $46.8m
Payment, Tax Withholding, Share-based Payment Arrangement $999k $10.1m $3.8m $4.4m $1.5m $6.0m $8.2m $4.5m $5.1m $9.6m
Goodwill and Intangible Asset Impairment — — — — — — — $0 $0 $0
Goodwill, Impairment Loss $0 — — — — — — — — —
Impairment of Intangible Assets (Excluding Goodwill) — — — — — — — — $30.6m $6.2m
Impairment of Intangible Assets, Finite-lived $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Gain (Loss) on Disposition of Assets ($183k) — — $812.8m — — — — — —
Gain (Loss) on Disposition of Intangible Assets — — — $812.8m — — — — — —
Gain (Loss) on Disposition of Business $1.1m — — — $17.1m $0 $0 $2.1m $0 $0
Gain (Loss) on Disposition of Other Assets — — — — $0 $0 — — — $53.1m
Gain (Loss) on Extinguishment of Debt — — — — — ($7.3m) $4.2m $0 $0 —
Income (Loss) from Equity Method Investments ($23.1m) ($2.0m) $42.3m $2.9m — — $0 ($1.8m) ($12.8m) $0
Income Tax Expense (Benefit) $10.3m $44.7m $30.0m $167.3m ($7.6m) ($9.8m) $41.2m $9.8m $6.5m $34.5m
Interest Expense Nonoperating — — — — — — — — $3.0m $4.7m
Operating Lease, Expense — — — $2.1m $2.1m $2.6m $700k $1.4m $1.3m $900k
Other Nonoperating Income (Expense) $2.7m $5.2m ($6.3m) ($6.0m) ($108k) ($8.9m) $4.2m ($2.0m) ($54.9m) ($89k)
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable $8.5m $8.4m $29.5m ($25.5m) $26.1m $28.6m ($55.3m) $2.6m $6.5m $21.7m
Increase (Decrease) in Inventories $244k $843k $2.6m $2.1m $17.8m $427k ($12.1m) $10.9m ($9.6m) ($5.0m)
Proceeds from Stock Options Exercised $6.4m $4.5m $20.2m $3.0m $3.0m $33.8m $3.2m $22.4m $65.6m $47.5m
Deconsolidation, Gain (Loss), Amount $0 $0 — — — — — — — —
Equity Securities, FV-NI, Gain (Loss) — — $50.2m — — — $0 $0 $25.8m ($90.7m)
Equity Securities, FV-NI, Unrealized Gain (Loss) — — — — — — $0 $0 ($25.8m) $90.7m
Gain (Loss) on Investments — — — $2.9m ($16.9m) ($4.0m) $28.5m $46.4m $75.0m $18.4m
Gain (Loss) on Sale of Derivatives — — — — — — — $300k — —
General and Administrative Expense $26.6m $28.7m $37.7m $41.9m $64.4m $57.5m $70.1m $52.8m $78.7m $92.4m
Goodwill $72.2m $86.0m $86.6m $95.2m $189.7m $181.2m $105.7m $103.4m $105.2m $101.5m
Inventory Write-down $0 $0 $0 $0 $0 $0 $1.1m $200k $200k $0
Investment Income, Interest — — — $28.4m $8.1m $886k $2.0m $7.7m $8.1m $13.7m
Nonoperating Income (Expense) ($35.9m) ($10.8m) $9.6m ($10.4m) ($36.4m) ($31.6m) $33.0m $51.7m $25.1m $118.0m
Operating Costs and Expenses $65.1m $73.0m $87.7m $126.0m $177.7m $198.2m $193.2m $121.5m $189.7m $227.1m
Payments for Repurchase of Warrants — — $30.1m $380k $0 $18.4m $0 $0 — —
Realized Investment Gains (Losses) $2.4m $831k $2.6m $41k — — — — — —
Unrealized Gain (Loss) on Derivatives ($1.1m) $144k $48k $256k ($212k) ($221k) ($85k) $250k ($20.0m) $1.0m
Unrealized Gain (Loss) on Investments ($1.1m) $144k $48k $256k ($212k) ($221k) ($85k) $212k $45k $181k
Derivative, Gain (Loss) on Derivative, Net — — ($1.8m) — — $0 $0 ($250k) ($15.1m) $0
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax $731k $144k $0 $256k ($212k) ($221k) ($85k) $212k $45k $181k
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax $731k $0 $0 — — — — — — —
Other Operating Income (Expense), Net — — — — — — $0 $0 — —
Net Cash Provided by (Used in) Operating Activities $63.0m $93.6m $194.1m ($29.3m) $54.6m $78.8m $137.8m $49.6m $97.0m $49.4m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $1.9m $2.2m $887k $2.6m $4.5m $8.8m $17.9m $3.5m $1.8m $452k
Payments to Acquire Businesses, Net of Cash Acquired $92.5m $26.7m $5.9m $11.8m $404.9m $0 $0 $10.4m $0 $0
Payments for (Proceeds from) Other Investing Activities $0 — — $4.7m ($1.9m) $1.2m $960k $0 $0 —
Net Cash Provided by (Used in) Investing Activities ($143.2m) ($84.2m) ($423.3m) $466.9m $231.6m $30.5m $163.6m ($11.7m) ($143.7m) ($377.3m)
Cash flows from financing activities:
Repayments of Long-term Debt $0 — $217.7m $27.3m $222.2m $155.8m $260.9m $76.9m $0 $0
Proceeds from Issuance of Common Stock — — — — — — $0 $0 $37.1m $0
Payments for Repurchase of Common Stock $3.9m $2.0m $122.9m $453.0m $78.0m $0 $0 $0 $0 $15.0m
Net Cash Provided by (Used in) Financing Activities $1.5m ($7.5m) $328.6m ($485.2m) ($310.5m) ($137.8m) ($276.0m) ($59.9m) $97.1m $428.2m
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $0 $0 ($215k) $83k $0 $0 $0 $0 ($1.2m) $2.4m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect $0 $0 ($215k) $83k $0 $0 $0 $0 $49.4m $102.6m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — $119.8m $72.3m $48.0m $19.5m $45.0m $23.0m $72.3m $174.9m
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities $1.8m $1.8m $1.5m $5.8m $4.5m $3.0m $1.4m $288k $263k $321k
Income Taxes Paid, Net $38k $157k $341k $103.8m $2.1m $3.7m $11.6m $8.8m $19.2m $7.8m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.