2021 Q2 Form 10-Q Financial Statement

#000123252421000045 Filed on August 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $751.8M $562.4M
YoY Change 33.67% 5.3%
Cost Of Revenue $119.2M $28.00M
YoY Change 325.69% 1.08%
Gross Profit $632.6M $530.2M
YoY Change 19.32% 6.95%
Gross Profit Margin 84.15% 94.27%
Selling, General & Admin $429.0M $191.4M
YoY Change 124.15% 8.74%
% of Gross Profit 67.82% 36.1%
Research & Development $132.7M $78.92M
YoY Change 68.14% 26.51%
% of Gross Profit 20.98% 14.89%
Depreciation & Amortization $147.3M $67.80M
YoY Change 117.24% 4.31%
% of Gross Profit 23.28% 12.79%
Operating Expenses $561.7M $270.3M
YoY Change 107.79% 13.39%
Operating Profit -$69.59M $198.1M
YoY Change -135.12% -3.01%
Interest Expense -$69.42M -$26.21M
YoY Change 164.86% 43.74%
% of Operating Profit -13.23%
Other Income/Expense, Net
YoY Change
Pretax Income -$136.1M $171.5M
YoY Change -179.36% -6.88%
Income Tax $228.6M $54.80M
% Of Pretax Income 31.96%
Net Earnings -$363.3M $114.8M
YoY Change -416.47% -56.17%
Net Earnings / Revenue -48.33% 20.41%
Basic Earnings Per Share -$6.11 $2.07
Diluted Earnings Per Share -$6.11 $2.06
COMMON SHARES
Basic Shares Outstanding 59.45M shares 55.41M shares
Diluted Shares Outstanding 59.45M shares 55.86M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $891.4M $1.696B
YoY Change -47.44% 92.15%
Cash & Equivalents $891.4M $786.1M
Short-Term Investments $140.0M $1.226B
Other Short-Term Assets $200.2M $112.7M
YoY Change 77.63% 49.54%
Inventory $1.251B $92.53M
Prepaid Expenses $104.5M $49.11M
Receivables $506.7M $351.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.954B $2.302B
YoY Change 28.3% 68.05%
LONG-TERM ASSETS
Property, Plant & Equipment $426.3M $128.3M
YoY Change 232.39% 0.85%
Goodwill $1.888B $918.0M
YoY Change 105.63% -0.75%
Intangibles $7.588B $2.286B
YoY Change 231.92% -14.95%
Long-Term Investments
YoY Change
Other Assets $47.08M $48.83M
YoY Change -3.58% 19.57%
Total Long-Term Assets $10.26B $3.764B
YoY Change 172.55% -8.61%
TOTAL ASSETS
Total Short-Term Assets $2.954B $2.302B
Total Long-Term Assets $10.26B $3.764B
Total Assets $13.21B $6.067B
YoY Change 117.8% 10.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $64.83M $50.04M
YoY Change 29.54% -39.14%
Accrued Expenses $561.1M $266.9M
YoY Change 110.21% 22.02%
Deferred Revenue $2.441M $3.633M
YoY Change -32.81% -23.03%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $248.6M $33.39M
YoY Change 644.56% 0.0%
Total Short-Term Liabilities $880.6M $410.0M
YoY Change 114.8% 10.95%
LONG-TERM LIABILITIES
Long-Term Debt $6.489B $2.070B
YoY Change 213.54% 32.01%
Other Long-Term Liabilities $132.5M $134.8M
YoY Change -1.73% 11.7%
Total Long-Term Liabilities $6.622B $2.205B
YoY Change 200.38% 30.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $880.6M $410.0M
Total Long-Term Liabilities $6.622B $2.205B
Total Liabilities $7.502B $2.614B
YoY Change 186.96% 27.04%
SHAREHOLDERS EQUITY
Retained Earnings $918.4M $878.2M
YoY Change 4.57% -14.06%
Common Stock $3.403B $2.499B
YoY Change 36.19% 15.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.131B $3.142B
YoY Change
Total Liabilities & Shareholders Equity $13.21B $6.067B
YoY Change 117.8% 10.53%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$363.3M $114.8M
YoY Change -416.47% -56.17%
Depreciation, Depletion And Amortization $147.3M $67.80M
YoY Change 117.24% 4.31%
Cash From Operating Activities $41.69M $182.5M
YoY Change -77.16% 22.65%
INVESTING ACTIVITIES
Capital Expenditures -$7.146M -$105.7M
YoY Change -93.24% 153.48%
Acquisitions
YoY Change
Other Investing Activities -$5.905B -$635.5M
YoY Change 829.22% -1729.49%
Cash From Investing Activities -$5.912B -$741.1M
YoY Change 697.78% 27348.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.664B 642.6M
YoY Change 625.8% -1243.42%
NET CHANGE
Cash From Operating Activities 41.69M 182.5M
Cash From Investing Activities -5.912B -741.1M
Cash From Financing Activities 4.664B 642.6M
Net Change In Cash -1.207B 84.00M
YoY Change -1536.47% -6.56%
FREE CASH FLOW
Cash From Operating Activities $41.69M $182.5M
Capital Expenditures -$7.146M -$105.7M
Free Cash Flow $48.84M $288.2M
YoY Change -83.05% 51.29%

Facts In Submission

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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q2 us-gaap Net Income Loss
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CY2020Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
20730000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
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CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Reclassification Adjustment Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterReclassificationAdjustmentTax
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us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Reclassification Adjustment Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterReclassificationAdjustmentTax
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us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option After Reclassification Adjustment Tax
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionAfterReclassificationAdjustmentTax
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CY2021Q2 us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsTax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsTax
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us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsTax
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us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsTax
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CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2021Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Stockholders Equity
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CY2021Q2 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
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CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2021Q2 us-gaap Net Income Loss
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CY2021Q2 us-gaap Stockholders Equity
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CY2019Q4 us-gaap Stockholders Equity
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CY2020Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2020Q1 us-gaap Stock Repurchased And Retired During Period Value
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CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2020Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Stockholders Equity
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CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
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176260000 USD
CY2020Q2 jazz Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature Repurchase
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeatureRepurchase
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CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2020Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
6547000 USD
CY2020Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1116000 USD
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
30599000 USD
CY2020Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
7484000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
21327000 USD
CY2020Q2 us-gaap Net Income Loss
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114801000 USD
CY2020Q2 us-gaap Stockholders Equity
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us-gaap Net Income Loss
NetIncomeLoss
-241484000 USD
us-gaap Net Income Loss
NetIncomeLoss
-43032000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
208672000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
125821000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
171587000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-82768000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
82648000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
59258000 USD
jazz Inventory Step Up Value Adjustment
InventoryStepUpValueAdjustment
65991000 USD
jazz Inventory Step Up Value Adjustment
InventoryStepUpValueAdjustment
0 USD
jazz Noncash Interest Expense
NoncashInterestExpense
38010000 USD
jazz Noncash Interest Expense
NoncashInterestExpense
29268000 USD
us-gaap Depreciation
Depreciation
11614000 USD
us-gaap Depreciation
Depreciation
9266000 USD
jazz Provision For Losses On Accounts Receivable And Inventory
ProvisionForLossesOnAccountsReceivableAndInventory
8742000 USD
jazz Provision For Losses On Accounts Receivable And Inventory
ProvisionForLossesOnAccountsReceivableAndInventory
4078000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
136139000 USD
us-gaap Research And Development Asset Acquired Other Than Through Business Combination Written Off
ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff
0 USD
us-gaap Research And Development Asset Acquired Other Than Through Business Combination Written Off
ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff
205250000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2983000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-3496000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
34838000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3640000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
29402000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
18826000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
21351000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
44853000 USD
jazz Increase Decrease In Operating Lease Assets
IncreaseDecreaseInOperatingLeaseAssets
-7893000 USD
jazz Increase Decrease In Operating Lease Assets
IncreaseDecreaseInOperatingLeaseAssets
-6422000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
173000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-1982000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
19309000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
5264000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
56688000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-6972000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-21839000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
45481000 USD
us-gaap Increase Decrease In Contract With Customer Liability
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-911000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-2360000 USD
jazz Increase Decrease In Operating Lease Liabilities Noncurrent
IncreaseDecreaseInOperatingLeaseLiabilitiesNoncurrent
-8790000 USD
jazz Increase Decrease In Operating Lease Liabilities Noncurrent
IncreaseDecreaseInOperatingLeaseLiabilitiesNoncurrent
-6978000 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
11343000 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
25912000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
326692000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
455488000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
1095000000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
565000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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9346000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7520000 USD
jazz Payment To Acquire Assets Net Of Cash Acquired
PaymentToAcquireAssetsNetOfCashAcquired
6234792000 USD
jazz Payment To Acquire Assets Net Of Cash Acquired
PaymentToAcquireAssetsNetOfCashAcquired
0 USD
jazz Paymentsto Acquire In Process Researchand Development Other Than Through Business Combination
PaymentstoAcquireInProcessResearchandDevelopmentOtherThanThroughBusinessCombination
0 USD
jazz Paymentsto Acquire In Process Researchand Development Other Than Through Business Combination
PaymentstoAcquireInProcessResearchandDevelopmentOtherThanThroughBusinessCombination
205250000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
113000000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
26100000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
1040475000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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jazz Proceeds From Issuance Of Term Loan
ProceedsFromIssuanceOfTermLoan
3719930000 USD
jazz Proceeds From Issuance Of Term Loan
ProceedsFromIssuanceOfTermLoan
0 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
1471533000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
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us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
500000000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
102289000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
24251000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
27172000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
14663000 USD
us-gaap Repayments Of Secured Debt
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584268000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
16693000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
146537000 USD
us-gaap Repayments Of Convertible Debt
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0 USD
us-gaap Repayments Of Convertible Debt
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332888000 USD
us-gaap Repayments Of Lines Of Credit
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0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
500000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4682312000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
494851000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-135000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
148738000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1057769000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
637344000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
891400000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
786082000 USD
us-gaap Number Of Operating Segments
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1 segment
us-gaap Use Of Estimates
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<div style="margin-top:14pt;text-indent:11.25pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures in the condensed consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and on assumptions believed to be reasonable under the circumstances. Actual results could differ materially from those estimates.</span></div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:14pt;text-indent:11.25pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Risk</span></div><div style="margin-top:6pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject us to concentrations of credit risk consist of cash, cash equivalents, investments and derivative contracts. Our investment policy permits investments in U.S. federal government and federal agency securities, corporate bonds or commercial paper issued by U.S. corporations, money market instruments, certain qualifying money market mutual funds, certain repurchase agreements, and tax-exempt obligations of U.S. states, agencies and municipalities and places restrictions on credit ratings, maturities, and concentration by type and issuer. We are exposed to credit risk in the event of a default by the financial institutions holding our cash, cash equivalents and investments to the extent recorded on the balance sheet.</span></div><div style="margin-top:6pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We manage our foreign currency transaction risk and interest rate risk within specified guidelines through the use of derivatives. All of our derivative instruments are utilized for risk management purposes, and we do not use derivatives for speculative trading purposes. As of June 30, 2021, we had foreign exchange forward contracts with notional amounts totaling $427.3 million. As of June 30, 2021, the outstanding foreign exchange forward contracts had a net liability fair value of $5.2 million. As of June 30, 2021, we had interest rate swap contracts with notional amounts totaling $300.0 million. These outstanding interest rate swap contracts had a net liability fair value of $0.2 million as of June 30, 2021. As of June 30, 2021, we had a cross-currency interest rate swap contract with a notional amount of $753.0 million. This outstanding cross-currency interest rate swap contract had a net liability fair value of $10.8 million as of June 30, 2021. The counterparties to these contracts are large multinational commercial banks, and we believe the risk of nonperformance is not significant.</span></div><div style="margin-top:6pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are also subject to credit risk from our accounts receivable related to our product sales. We monitor our exposure within accounts receivable and record a reserve against uncollectible accounts receivable as necessary. We extend credit to pharmaceutical wholesale distributors and specialty pharmaceutical distribution companies, primarily in the U.S., and to other international distributors and hospitals. Customer creditworthiness is monitored and collateral is not required. We monitor economic conditions in certain European countries which may result in variability of the timing of cash receipts and an increase in the average length of time that it takes to collect accounts receivable outstanding. Historically, we have not experienced significant credit losses on our accounts receivable and as of June 30, 2021 and December 31, 2020, allowances on receivables were not material. As of June 30, 2021, three customers accounted for 74% of gross accounts receivable, Express Scripts Specialty Distribution Services, Inc. and its affiliates, or ESSDS, which accounted for 56% of gross accounts receivable, McKesson Corporation and affiliates, or McKesson, which accounted for 10% of gross accounts receivable, and Cardinal Health, Inc., or Cardinal, which accounted for 8% of gross accounts receivable. As of December 31, 2020, three customers </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">accounted for 84% of gross accounts receivable, ESSDS, which accounted for 68% of gross accounts receivable, McKesson, which accounted for 12% of gross accounts receivable, and Cardinal, which accounted for 4% of gross accounts receivable. </span></div><div style="margin-top:6pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We depend on single source suppliers for most of our products, product candidates and their active pharmaceutical ingredients, or APIs. With respect to our oxybate products, the API is manufactured for us by a single source supplier and the finished products are manufactured both by us in our facility in Athlone, Ireland and by our U.S.-based supplier.</span></div>
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
891400000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
891400000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
891400000 USD
CY2021Q2 us-gaap Investments
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0 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
2132769000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2132769000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1057769000 USD
CY2020Q4 us-gaap Investments
Investments
1075000000 USD
CY2021Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
400000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
1500000 USD
CY2020Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
3100000 USD
us-gaap Investment Income Interest
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7600000 USD
CY2021Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
4500000 USD
CY2021Q2 us-gaap Derivative Asset Fair Value Gross Asset Including Not Subject To Master Netting Arrangement
DerivativeAssetFairValueGrossAssetIncludingNotSubjectToMasterNettingArrangement
1346000 USD
CY2021Q2 us-gaap Derivative Liability Fair Value Gross Liability Including Not Subject To Master Netting Arrangement
DerivativeLiabilityFairValueGrossLiabilityIncludingNotSubjectToMasterNettingArrangement
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19300000 USD
CY2021Q2 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
400000 USD

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0001232524-21-000045-index-headers.html Edgar Link pending
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