USA Cost of Goods Sold Question?


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Was trying to figure out the Cost of Goods Sold for the following income statement and balance sheet. My understanding is its starting inventory+purchase during period- ending inventory. If that is the case the COGS is negative in this example. How is that possible?


Consolidated Statements of Operations
(CHF in thousands, except per share amounts)
201420132012Change 2013-2014% ChangeChange 2012-2013% Change
Revenues:
Product revenues, net1,261,829.700.000.001,261,829.700.000.00%
Royalty revenues66,369.9140,133.7937,580.6426,236.1265.37%2,553.156.79%
Collaborative revenues543,701.09150,118.2097,626.06393,582.89262.18%52,492.1453.77%
Total revenues1,871,900.70190,251.99135,206.701,681,648.71883.91%55,045.2940.71%
Costs and expenses:1,045,956.00
Cost of product revenues84,430.380.000.0084,430.380.00
Royalty expenses22,399.7616,892.7118,846.055,507.0532.60%-1,953.34-10.36%
Research and development expenses939,125.86845,851.03730,213.6093,274.8311.03%115,637.4315.84%
Sales, general and administrative expenses531,756.77249,210.60172,764.78282,546.17113.38%76,445.8244.25%
Restructuring expense2,752.201,991.838,280.48760.3738.17%-6,288.65-75.95%
Intangible asset impairment charge140,396.600.009,554.40140,396.60-9,554.40-100.00%
Acquisition-related expenses0.000.0010,341.310.00-10,341.31-100.00%
Total costs and expenses1,720,861.561,113,946.17950,000.63606,915.3954.48%163,945.5417.26%
EBITDA151,039.14-923,694.18-814,793.921,074,733.32-116.35%-108,900.2613.37%
Interest income2,492.112,594.296,648.27-102.18-3.94%-4,053.99-60.98%
Interest expense-51,025.80-25,577.93-17,505.78-25,447.8899.49%-8,072.1446.11%
Change in fair value of derivative instruments-22,294.93-54,710.88-2,450.9732,415.96-59.25%-52,259.912132.21%
Loss on exchanges of convertible senior subordinated notes0.000.00-24,067.800.0024,067.80-100.00%
Income (loss) before provision for income taxes80,210.52-1,001,388.70-852,170.211,081,599.22-108.01%-149,218.5017.51%
Provision for income taxes25,565.980.000.000.00
Tax Rate0.319
Net income (loss)54,644.53-1,001,388.70-852,170.211,056,033.24-105.46%-149,218.5017.51%
Net income (loss) per share
Basic0.23-4.43-4.494.66-105.10%0.05-1.22%
Diluted0.21-4.21-4.394.42-105.05%0.19-4.23%
Shares used in per share calculations:
Basic241,870225,933189,91415,937.007.05%36,019.0018.97%
Diluted257,086237,933193,91419,153.008.05%44,019.0022.70%
498,956.00463,866.00383,828.00
Consolidated Balance Sheet
(CHF in thousands, except share and per share amounts)
20142013Difference% Change
Assets
Current assets:
Cash and cash equivalents630,749.64322,722.42308,027.22
Marketable securities, available for sale605,863.08996,813.21-390,950.12-39.22%
Restricted cash and cash equivalents68,842.110.0068,842.11
Accounts receivable, net243,020.1516,625.98226,394.161361.69%
Inventories149,194.610.00149,194.61
Prepaid expenses and other current assets19,757.7017,382.372,375.3313.67%
0.00
Total current assets1,717,427.291,353,543.98363,883.3126.88%
0.00
Restricted cash45,237.4345,237.430.000.00%
Property and equipment, net176,724.5595,985.8980,738.6684.12%
Intangible assets880,464.50688,314.90192,149.6027.92%
Goodwill41,126.3834,637.356,489.0318.73%
Other assets14,952.6422,800.51-7,847.88-34.42%
0.00
Total assets2,875,932.792,240,520.07635,412.7228.36%
0.00
Liabilities and Shareholders' Equity0.00
Current liabilities:0.00
Accounts payable99,049.9347,574.2851,475.66108.20%
Accrued expenses and other current liabilities334,800.77178,367.38156,433.4087.70%
Accrued interest4,462.704,594.07-131.37-2.86%
Deferred revenues, current portion59,764.1099,019.41-39,255.31-39.64%
Accrued restructuring expense, current portion6,544.767,294.52-749.75-10.28%
Secured notes (due 2012)0.00181,787.06-181,787.06-100.00%
Liability related to sale of milestone payments0.00103,239.27-103,239.27-100.00%
Income taxes payable (Alios)16,023.530.0016,023.53
Other obligations0.008,161.05-8,161.05-100.00%
Total current liabilities520,645.80630,037.04109,391.2517.36%
0.00
Deferred revenues, excluding current portion156,712.07212,385.0255,672.9626.21%
Accrued restructuring expense, excluding current portion28,372.5931,978.053,605.4611.27%
Convertible senior subordinated notes (due 2015)530,800.00530,800.000.000.00%
Deferred tax liability323,399.19212,688.91-110,710.28-52.05%
Construction financing obligation74,245.650.00-74,245.65
Other liabilities9,669.853,005.66-6,664.19-221.72%
0.00
Total liabilities1,643,845.141,620,894.67-22,950.47-1.42%
0.00
Total shareholders' equity1,232,087.65619,625.40-612,462.25-98.84%
0.00
Total liabilities and shareholders' equity2,875,932.792,240,520.07-635,412.72-28.36%
 

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Joined
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Is the statement of operations done on the cash basis? If not, then it simply is the cost of product revenues which is $84,430.38


84,430.38
 

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