USA Cost of Goods Sold


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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)
2014​
2013​
2012​
Change 2013-2014% ChangeChange 2012-2013% Change
Revenues:
Product revenues, net
1,261,829.70​
0.00​
0.00​
1,261,829.70​
0.00​
0.00%​
Royalty revenues
66,369.91​
40,133.79​
37,580.64​
26,236.12​
65.37%​
2,553.15​
6.79%​
Collaborative revenues
543,701.09​
150,118.20​
97,626.06​
393,582.89​
262.18%​
52,492.14​
53.77%​
Total revenues
1,871,900.70​
190,251.99​
135,206.70​
1,681,648.71​
883.91%​
55,045.29​
40.71%​
Costs and expenses:
1,045,956.00​
Cost of product revenues
84,430.38​
0.00​
0.00​
84,430.38​
0.00​
Royalty expenses
22,399.76​
16,892.71​
18,846.05​
5,507.05​
32.60%​
-1,953.34​
-10.36%​
Research and development expenses
939,125.86​
845,851.03​
730,213.60​
93,274.83​
11.03%​
115,637.43​
15.84%​
Sales, general and administrative expenses
531,756.77​
249,210.60​
172,764.78​
282,546.17​
113.38%​
76,445.82​
44.25%​
Restructuring expense
2,752.20​
1,991.83​
8,280.48​
760.37​
38.17%​
-6,288.65​
-75.95%​
Intangible asset impairment charge
140,396.60​
0.00​
9,554.40​
140,396.60​
-9,554.40​
-100.00%​
Acquisition-related expenses
0.00​
0.00​
10,341.31​
0.00​
-10,341.31​
-100.00%​
Total costs and expenses
1,720,861.56​
1,113,946.17​
950,000.63​
606,915.39​
54.48%​
163,945.54​
17.26%​
EBITDA
151,039.14​
-923,694.18​
-814,793.92​
1,074,733.32​
-116.35%​
-108,900.26​
13.37%​
Interest income
2,492.11​
2,594.29​
6,648.27​
-102.18​
-3.94%​
-4,053.99​
-60.98%​
Interest expense
-51,025.80​
-25,577.93​
-17,505.78​
-25,447.88​
99.49%​
-8,072.14​
46.11%​
Change in fair value of derivative instruments
-22,294.93​
-54,710.88​
-2,450.97​
32,415.96​
-59.25%​
-52,259.91​
2132.21%​
Loss on exchanges of convertible senior subordinated notes
0.00​
0.00​
-24,067.80​
0.00​
24,067.80​
-100.00%​
Income (loss) before provision for income taxes
80,210.52​
-1,001,388.70​
-852,170.21​
1,081,599.22​
-108.01%​
-149,218.50​
17.51%​
Provision for income taxes
25,565.98​
0.00​
0.00​
0.00​
Tax Rate
0.319​
Net income (loss)
54,644.53​
-1,001,388.70​
-852,170.21​
1,056,033.24​
-105.46%​
-149,218.50​
17.51%​
Net income (loss) per share
Basic
0.23​
-4.43​
-4.49​
4.66​
-105.10%​
0.05​
-1.22%​
Diluted
0.21​
-4.21​
-4.39​
4.42​
-105.05%​
0.19​
-4.23%​
Shares used in per share calculations:
Basic
241,870​
225,933​
189,914​
15,937.00​
7.05%​
36,019.00​
18.97%​
Diluted
257,086​
237,933​
193,914​
19,153.00​
8.05%​
44,019.00​
22.70%​
498,956.00​
463,866.00​
383,828.00​
Consolidated Balance Sheet
(CHF in thousands, except share and per share amounts)
2014​
2013Difference% Change
Assets
Current assets:
Cash and cash equivalents
630,749.64​
322,722.42​
308,027.22​
Marketable securities, available for sale
605,863.08​
996,813.21​
-390,950.12​
-39.22%​
Restricted cash and cash equivalents
68,842.11​
0.00​
68,842.11​
Accounts receivable, net
243,020.15​
16,625.98​
226,394.16​
1361.69%​
Inventories
149,194.61​
0.00​
149,194.61​
Prepaid expenses and other current assets
19,757.70​
17,382.37​
2,375.33​
13.67%​
0.00​
Total current assets
1,717,427.29​
1,353,543.98​
363,883.31​
26.88%​
0.00​
Restricted cash
45,237.43​
45,237.43​
0.00​
0.00%​
Property and equipment, net
176,724.55​
95,985.89​
80,738.66​
84.12%​
Intangible assets
880,464.50​
688,314.90​
192,149.60​
27.92%​
Goodwill
41,126.38​
34,637.35​
6,489.03​
18.73%​
Other assets
14,952.64​
22,800.51​
-7,847.88​
-34.42%​
0.00​
Total assets
2,875,932.79​
2,240,520.07​
635,412.72​
28.36%​
0.00​
Liabilities and Shareholders' Equity
0.00​
Current liabilities:
0.00​
Accounts payable
99,049.93​
47,574.28​
51,475.66​
108.20%​
Accrued expenses and other current liabilities
334,800.77​
178,367.38​
156,433.40​
87.70%​
Accrued interest
4,462.70​
4,594.07​
-131.37​
-2.86%​
Deferred revenues, current portion
59,764.10​
99,019.41​
-39,255.31​
-39.64%​
Accrued restructuring expense, current portion
6,544.76​
7,294.52​
-749.75​
-10.28%​
Secured notes (due 2012)
0.00​
181,787.06​
-181,787.06​
-100.00%​
Liability related to sale of milestone payments
0.00​
103,239.27​
-103,239.27​
-100.00%​
Income taxes payable (Alios)
16,023.53​
0.00​
16,023.53​
Other obligations
0.00​
8,161.05​
-8,161.05​
-100.00%​
Total current liabilities
520,645.80​
630,037.04​
109,391.25​
17.36%​
0.00​
Deferred revenues, excluding current portion
156,712.07​
212,385.02​
55,672.96​
26.21%​
Accrued restructuring expense, excluding current portion
28,372.59​
31,978.05​
3,605.46​
11.27%​
Convertible senior subordinated notes (due 2015)
530,800.00​
530,800.00​
0.00​
0.00%​
Deferred tax liability
323,399.19​
212,688.91​
-110,710.28​
-52.05%​
Construction financing obligation
74,245.65​
0.00​
-74,245.65​
Other liabilities
9,669.85​
3,005.66​
-6,664.19​
-221.72%​
0.00​
Total liabilities
1,643,845.14​
1,620,894.67​
-22,950.47​
-1.42%​
0.00​
Total shareholders' equity
1,232,087.65​
619,625.40​
-612,462.25​
-98.84%​
0.00​
Total liabilities and shareholders' equity
2,875,932.79​
2,240,520.07​
-635,412.72​
-28.36%​
 
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