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: 2018 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 7, 2019) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Statements of Operations | |||
| Revenues: | |||
| Revenues | $ 6,710,800 | 5,872,200 | 4,860,400 |
| Expenses: | |||
| Research and development | 2,186,100 | 2,075,100 | 2,052,300 |
| Selling, general, and administrative | 1,556,200 | 1,320,400 | 1,177,700 |
| Total expenses | 4,176,400 | 3,792,600 | 3,529,700 |
| Income from operations | 2,534,400 | 2,079,600 | 1,330,700 |
| Other income (expense): | |||
| Other income (expense), net | 47,300 | 24,000 | 6,300 |
| Interest expense | (28,200) | (25,100) | (7,200) |
| Total other income (expense) | 19,100 | (1,100) | (900) |
| Income before income taxes | 2,553,500 | 2,078,500 | 1,329,800 |
| Income tax expense | (109,100) | (880,000) | (434,300) |
| Net income | 2,444,400 | 1,198,500 | 895,500 |
| Net income per share - basic (in dollars per share) | 22.65 | 11.27 | 8.55 |
| Net income per share - diluted (in dollars per share) | 21.29 | 10.34 | 7.70 |
| Weighted average shares outstanding - basic (in shares) | 107,900 | 106,300 | 104,700 |
| Weighted average shares outstanding - diluted (in shares) | 114,800 | 115,900 | 116,300 |
| Statements of Comprehensive Income | |||
| Net income | 2,444,400 | 1,198,500 | 895,500 |
| Other comprehensive income (loss), net of tax: | |||
| Unrealized (loss) gain on marketable securities | (7,000) | 12,700 | (21,400) |
| Unrealized gain on cash flow hedges | 700 | 800 | 0 |
| Comprehensive income | 2,438,100 | 1,212,000 | 874,100 |
| Project | |||
| Sanofi | |||
| Product and Service | |||
| Product and service, other | |||
| Revenues | 1,111,100 | 877,200 | 658,700 |
| Bayer | |||
| Revenues | 1,076,700 | 938,100 | 744,300 |
| Other | |||
| Revenues | 416,800 | 338,400 | 119,000 |
| Product and Service | |||
| Product | |||
| Revenues | 4,106,200 | 3,718,500 | 3,338,400 |
| Cost of goods sold | 180,000 | 202,500 | 194,600 |
| Collaboration and contract manufacturing | |||
| Cost of goods sold | 254,100 | 194,600 | 105,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
REGENERON PHARMACEUTICALS, INC. | |||
Ticker: REGN Fiscal Year: 2018 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 7, 2019) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Cash flows from operating activities: | |||
| Net income | $ 2,444,400 | 1,198,500 | 895,500 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 148,200 | 145,500 | 104,700 |
| Non-cash compensation expense | 427,400 | 507,300 | 559,900 |
| Other non-cash items, net | 12,100 | 63,500 | 45,100 |
| Deferred taxes | (140,000) | 318,800 | (360,100) |
| Changes in assets and liabilities: | |||
| Increase in Sanofi, Bayer, and trade accounts receivable | (268,900) | (362,700) | (143,800) |
| Increase in inventories | (387,900) | (314,200) | (149,800) |
| (Increase) decrease in prepaid expenses and other assets | (55,700) | (113,300) | 36,100 |
| (Decrease) increase in deferred revenue | (194,500) | (113,100) | 244,300 |
| Increase (decrease) in accounts payable, accrued expenses, and other liabilities | 210,000 | (23,200) | 254,000 |
| Total adjustments | (249,300) | 108,600 | 590,400 |
| Net cash provided by operating activities | 2,195,100 | 1,307,100 | 1,485,900 |
| Cash flows from investing activities: | |||
| Purchases of marketable and other securities | (1,845,500) | (1,277,200) | (809,400) |
| Sales or maturities of marketable securities | 775,600 | 544,600 | 274,500 |
| Capital expenditures | (383,100) | (272,600) | (511,900) |
| Other | (10,000) | 0 | 0 |
| Net cash used in investing activities | (1,463,000) | (1,005,200) | (1,046,800) |
| Cash flows from financing activities: | |||
| Proceeds in connection with capital and facility lease obligations | 0 | 57,000 | 5,100 |
| Payments in connection with capital and facility lease obligations | 0 | (19,900) | (32,800) |
| Repayments of convertible senior notes | 0 | 0 | (12,900) |
| Payments in connection with reduction of outstanding warrants | 0 | 0 | (643,400) |
| Proceeds from issuance of Common Stock | 114,500 | 240,200 | 126,700 |
| Payments in connection with Common Stock tendered for employee tax obligations | (187,200) | (301,700) | (143,200) |
| Repurchases of Common Stock | (4,400) | 0 | 0 |
| Net cash used in financing activities | (77,100) | (24,400) | (700,500) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 655,000 | 277,500 | (261,400) |
| Cash, cash equivalents, and restricted cash at beginning of period | 825,200 | 547,700 | |
| Cash, cash equivalents, and restricted cash at end of period | 1,480,200 | 825,200 | 547,700 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest (net of amounts capitalized) | 22,300 | 18,700 | 5,500 |
| Cash paid for income taxes | 205,600 | 754,800 | 481,400 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
REGENERON PHARMACEUTICALS, INC. | ||
Ticker: REGN Fiscal Year: 2018 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2018 10-K (Filed: Feb 7, 2019) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2018 | Dec 31, 2017 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,467,700 | 812,700 |
| Marketable securities | 1,342,200 | 596,800 |
| Accounts receivable - trade, net | 1,723,700 | 1,538,600 |
| Accounts receivable from Sanofi | 226,400 | 193,700 |
| Accounts receivable from Bayer | 293,100 | 242,000 |
| Inventories | 1,151,200 | 726,100 |
| Prepaid expenses and other current assets | 243,300 | 225,100 |
| Total current assets | 6,447,600 | 4,335,000 |
| Marketable securities | 1,755,000 | 1,486,500 |
| Property, plant, and equipment, net | 2,575,800 | 2,358,600 |
| Deferred tax assets | 828,700 | 506,300 |
| Other noncurrent assets | 127,400 | 77,900 |
| Total assets | 11,734,500 | 8,764,300 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 218,200 | 178,200 |
| Accrued expenses and other current liabilities | 772,100 | 637,200 |
| Deferred revenue, current | 452,500 | 320,100 |
| Total current liabilities | 1,442,800 | 1,135,500 |
| Capital and facility lease obligations | 708,500 | 703,500 |
| Deferred revenue, noncurrent | 464,200 | 629,200 |
| Other noncurrent liabilities | 361,700 | 152,000 |
| Total liabilities | 2,977,200 | 2,620,200 |
| Commitments and contingencies | ||
| Stockholders' equity: | ||
| Preferred Stock, $.01 par value; 30,0000,000 shares authorized; issued and outstanding - none | 0 | 0 |
| Additional paid-in capital | 3,911,600 | 3,512,900 |
| Retained earnings | 5,254,300 | 2,946,700 |
| Accumulated other comprehensive (loss) income | (12,300) | 600 |
| Treasury Stock, at cost; 3,990,021 shares in 2018 and 3,763,868 shares in 2017 | (396,400) | (316,200) |
| Total stockholders' equity | 8,757,300 | 6,144,100 |
| Total liabilities and stockholders' equity | 11,734,500 | 8,764,300 |
| Project | ||
| Sanofi | ||
| Deferred revenue, current | 246,700 | 177,700 |
| Deferred revenue, noncurrent | 279,300 | 379,900 |
| Other | ||
| Deferred revenue, current | 205,800 | 142,400 |
| Deferred revenue, noncurrent | 184,900 | 249,300 |
| Class of Stock | ||
| Class A Stock | ||
| Common stock | 0 | 0 |
| Total stockholders' equity | 0 | 0 |
| Common Stock | ||
| Common stock | 100 | 100 |
| Total stockholders' equity | 100 | 100 |
| External Links | |
| REGENERON PHARMACEUTICALS, INC. (REGN) Fiscal Year 2018 | |
| 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 |