nventory balance of $89.1 million as of December 31, 2006 has been
reclassified from inventory to other assets, as we do not presently intend
to launch NUVIGIL commercially until around 2010.
CEPHALON, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Nine Months Ended
September 30,
2007 2006
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) $(235,886) $149,725
Adjustments to reconcile net income
(loss) to net cash provided by operating
activities:
Deferred income tax expense 8,750 64,112
Shortfall tax benefits from stock-based
compensation (222) -
Depreciation and amortization 101,206 94,828
Amortization of debt issuance costs 180 387
Write-off of debt issuance costs
associated with convertible subordinated
notes - 13,105
Stock-based compensation expense 34,940 32,436
Gain on extinguishment of debt (5,319) -
Gain on sale of investment (5,791) -
Loss on disposals of property and
equipment 2,873 2,368
Impairment charge - 12,417
Changes in operating assets and
liabilities:
Receivables (26,218) (30,818)
Inventory
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SOURCE Cephalon, Inc. Copyright©2007 PR Newswire. All rights reserved | |
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