USA Cost of Goods Sold Question?

[jhsellers1971]

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	% Change	Change 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	2013	Difference	% 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%

 

[UncleSam]

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