10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
REGENERON PHARMACEUTICALS, INC. | |||
Ticker: REGN Fiscal Year: 2015 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 11, 2016) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Income Statement [Abstract] | |||
| Revenues: | |||
| Net product sales | $ 2,689,478 | 1,750,762 | 1,425,839 |
| Sanofi collaboration revenue | 758,873 | 541,299 | 430,111 |
| Bayer HealthCare collaboration revenue | 580,488 | 495,555 | 220,289 |
| Other revenue | 74,889 | 31,941 | 28,506 |
| Total revenues | 4,103,728 | 2,819,557 | 2,104,745 |
| Expenses: | |||
| Research and development | 1,620,577 | 1,271,353 | 859,947 |
| Selling, general, and administrative | 838,526 | 519,267 | 346,393 |
| Cost of goods sold | 241,702 | 129,030 | 118,048 |
| Cost of collaboration and contract manufacturing | 151,007 | 75,988 | 37,307 |
| Total expenses | 2,851,812 | 1,995,638 | 1,361,695 |
| Income from operations | 1,251,916 | 823,919 | 743,050 |
| Other income (expense): | |||
| Investment and other income (expense) | 6,283 | 8,157 | (231) |
| Interest expense | (14,241) | (37,372) | (46,437) |
| Loss on Extinguishment of Debt | (18,861) | (33,469) | 0 |
| Total other income (expense) | (26,819) | (62,684) | (46,668) |
| Income before income taxes | 1,225,097 | 761,235 | 696,382 |
| Income tax expense | (589,041) | (423,109) | (282,644) |
| Net income | 636,056 | 338,126 | 413,738 |
| Net income per share - basic | 6.17 | 3.36 | 4.23 |
| Net income per share - diluted | 5.52 | 2.98 | 3.72 |
| Weighted average shares outstanding - basic | 103,061 | 100,612 | 97,917 |
| Weighted average shares outstanding - diluted | 115,230 | 113,413 | 111,290 |
| Statements of Comprehensive Income | |||
| Net income | 636,056 | 338,126 | 413,738 |
| Other comprehensive income: | |||
| Unrealized gain (loss) on marketable securities, net of tax | (43,679) | 53,439 | (22) |
| Comprehensive income | 592,377 | 391,565 | 413,716 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
REGENERON PHARMACEUTICALS, INC. | |||
Ticker: REGN Fiscal Year: 2015 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 11, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Cash flows from operating activities: | |||
| Net income | $ 636,056 | 338,126 | 413,738 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 74,909 | 52,686 | 41,204 |
| Non-cash compensation expense | 459,049 | 321,750 | 215,377 |
| Loss on Extinguishment of Debt | 18,861 | 33,469 | 0 |
| Other non-cash charges and expenses, net | 33,701 | 44,102 | 46,751 |
| Increase (Decrease) in Deferred Income Taxes | (121,623) | (53,276) | 62,195 |
| Changes in assets and liabilites | |||
| Increase in Sanofi, Bayer HealthCare, and trade accounts receivable | (491,421) | (34,927) | (245,472) |
| Increase in Inventories | (111,825) | (56,947) | (47,956) |
| (Increase) decrease in prepaid expenses and other assets | (79,476) | (45,327) | 7,571 |
| Increase (decrease) in deferred revenue | 608,892 | (8,403) | (41,496) |
| Increase in accounts payable, accrued expenses and other liabilities | 303,657 | 161,182 | 136,684 |
| Total adjustments | 694,724 | 414,309 | 174,858 |
| Net cash provided by operating activities | 1,330,780 | 752,435 | 588,596 |
| Cash flows from investing activities: | |||
| Purchases of marketable securities | (557,105) | (564,188) | (577,278) |
| Sales or maturities of marketable securities | 327,437 | 476,417 | 378,146 |
| Capital expenditures | (677,933) | (333,006) | (156,323) |
| Net cash used in by investing activities | (907,601) | (420,777) | (355,455) |
| Cash flows from financing activities: | |||
| Proceeds from (Repayments of) Long-term Debt and Capital Securities | 26,020 | (1,095) | (2,024) |
| Repayments of convertible senior debt | (166,467) | (220,639) | 0 |
| Payments in connection with reduction of outstanding warrants | (573,487) | (294,552) | 0 |
| Proceeds from issuance of Common Stock | 206,358 | 126,045 | 57,393 |
| Payments in connection with Common Stock tendered for employee tax obligations | (160,537) | (267,584) | (195,087) |
| Excess tax benefit from stock-based compensation | 405,317 | 439,278 | 211,909 |
| Net cash (used in) provided by financing activities | (262,796) | (218,547) | 72,191 |
| Net increase in cash and cash equivalents | 160,383 | 113,111 | 305,332 |
| Cash and cash equivalents at beginning of period | 648,719 | 535,608 | |
| Cash and cash equivalents at end of period | 809,102 | 648,719 | 535,608 |
| Cash paid for interest (net of amounts capitalized) | 10,582 | 20,348 | 23,197 |
| Cash paid for income taxes | 276,092 | 59,847 | 1,057 |
| Class of Warrant or Right | |||
| Warrant | |||
| Payments in connection with reduction of outstanding warrants | (399,500) | (294,600) | |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
REGENERON PHARMACEUTICALS, INC. | ||
Ticker: REGN Fiscal Year: 2015 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 11, 2016) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 809,102 | 648,719 |
| Marketable securities | 236,121 | 251,761 |
| Accounts receivable - trade, net | 1,152,489 | 739,379 |
| Accounts receivable from Sanofi | 153,152 | 111,510 |
| Accounts receivable from Bayer HealthCare | 162,152 | 125,483 |
| Inventories | 238,578 | 128,861 |
| Prepaid expenses and other current assets | 163,501 | 79,046 |
| Total current assets | 2,915,095 | 2,084,759 |
| Marketable securities | 632,162 | 460,154 |
| Property, plant, and equipment, at cost, net of accumulated depreciation and amortization | 1,594,120 | 974,309 |
| Deferred tax assets | 461,945 | 315,416 |
| Other assets | 5,810 | 3,034 |
| Total assets | 5,609,132 | 3,837,672 |
| LIABILITIES and STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | 644,112 | 483,489 |
| Deferred revenue from Sanofi, current portion | 101,573 | 15,927 |
| Deferred revenue - other, current portion | 51,914 | 58,098 |
| Other current liabilities | 13,563 | 97,146 |
| Total current liabilities | 811,162 | 654,660 |
| Deferred revenue from Sanofi | 582,664 | 62,819 |
| Deferred revenue - other | 82,015 | 72,430 |
| Facility lease obligations | 362,919 | 310,938 |
| Convertible senior notes | 0 | 146,773 |
| Other long term liabilities | 115,535 | 39,801 |
| Total liabilities | 1,954,295 | 1,287,421 |
| Commitments and contingencies (Note 13) | ||
| Stockholders' equity: | ||
| Preferred Stock | 0 | 0 |
| Additional paid-in capital | 3,099,526 | 2,450,782 |
| Retained earnings | 852,700 | 216,644 |
| Accumulated other comprehensive income | 8,572 | 52,251 |
| Treasury Stock | (306,069) | (169,530) |
| Total stockholders' equity | 3,654,837 | 2,550,251 |
| Total liabilities and stockholders' equity | 5,609,132 | 3,837,672 |
| Class of Stock | ||
| Class A Stock | ||
| Common stock | 2 | 2 |
| Total stockholders' equity | 2 | 2 |
| Common Stock | ||
| Common stock | 106 | 102 |
| Total stockholders' equity | 106 | 102 |
| External Links | |
| REGENERON PHARMACEUTICALS, INC. (REGN) Fiscal Year 2015 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |