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: 2014 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 12, 2015) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Income Statement [Abstract] | |||
| Revenues: | |||
| Net product sales | $ 1,750,762 | 1,425,839 | 858,093 |
| Sanofi collaboration revenue | 541,299 | 430,111 | 423,814 |
| Bayer HealthCare collaboration revenue | 495,555 | 220,289 | 70,099 |
| Technology licensing and other revenue | 31,941 | 28,506 | 26,471 |
| Total revenues | 2,819,557 | 2,104,745 | 1,378,477 |
| Expenses: | |||
| Research and development | 1,271,353 | 859,947 | 625,554 |
| Selling, general, and administrative | 504,755 | 329,415 | 210,755 |
| Cost of goods sold | 129,030 | 118,048 | 83,927 |
| Cost of collaboration manufacturing | 75,988 | 37,307 | 528 |
| Total expenses | 1,981,126 | 1,344,717 | 920,764 |
| Income from operations | 838,431 | 760,028 | 457,713 |
| Other income (expense): | |||
| Investment and other income (expense) | 8,157 | (231) | 2,012 |
| Interest expense | (37,372) | (46,437) | (45,304) |
| Loss on Extinguishment of Debt | (33,469) | 0 | 0 |
| Total other income (expense) | (62,684) | (46,668) | (43,292) |
| Income before income taxes | 775,747 | 713,360 | 414,421 |
| Income tax (expense) benefit | (427,673) | (288,998) | 335,848 |
| Net income | 348,074 | 424,362 | 750,269 |
| Net income per share - basic | 3.46 | 4.33 | 7.92 |
| Net income per share - diluted | 3.07 | 3.81 | 6.75 |
| Weighted average shares outstanding - basic | 100,612 | 97,917 | 94,685 |
| Weighted average shares outstanding - diluted | 113,413 | 111,290 | 115,382 |
| Statements of Comprehensive Income | |||
| Net income | 348,074 | 424,362 | 750,269 |
| Other comprehensive income: | |||
| Unrealized gain (loss) on marketable securities, net of tax | 53,439 | (22) | 696 |
| Comprehensive income | 401,513 | 424,340 | 750,965 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
REGENERON PHARMACEUTICALS, INC. | |||
Ticker: REGN Fiscal Year: 2014 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 12, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Cash flows from operating activities: | |||
| Net income | $ 348,074 | 424,362 | 750,269 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 52,686 | 41,204 | 36,940 |
| Non-cash compensation expense | 307,238 | 198,399 | 94,157 |
| Non-cash interest expense | 18,052 | 23,061 | 22,925 |
| Loss on Extinguishment of Debt | 33,469 | 0 | 0 |
| Other non-cash charges and expenses, net | 30,003 | 23,690 | 34,049 |
| Increase (Decrease) in Deferred Income Taxes | (66,604) | 63,601 | (340,156) |
| Changes in assets and liabilites | |||
| Increase in Sanofi, Bayer HealthCare, and trade accounts receivable | (62,432) | (258,994) | (588,398) |
| Increase in Inventories | (60,900) | (47,956) | (28,932) |
| (Increase) decrease in prepaid expenses and other assets | (37,767) | 7,571 | (25,371) |
| Increase (decrease) in deferred revenue | 19,102 | (27,974) | (41,077) |
| Increase in accounts payable, accrued expenses and other liabilities | 162,236 | 136,684 | 10,979 |
| Total adjustments | 395,083 | 159,286 | (824,884) |
| Net cash provided by (used in) operating activities | 743,157 | 583,648 | (74,615) |
| Cash flows from investing activities: | |||
| Purchases of marketable securities | (564,188) | (577,278) | (470,945) |
| Sales or maturities of marketable securities | 476,417 | 378,146 | 439,209 |
| Capital expenditures | (333,006) | (156,323) | (49,337) |
| Net cash used in by investing activities | (420,777) | (355,455) | (81,073) |
| Cash flows from financing activities: | |||
| Payments in connection with facility and capital lease obligations | (1,095) | (2,024) | (2,203) |
| Repayments of convertible senior debt | (220,639) | 0 | 0 |
| Payments in connection with reduction of outstanding warrants | (294,552) | 0 | 0 |
| Proceeds from issuance of Common Stock | 126,045 | 57,393 | 63,549 |
| Payments in connection with Common Stock tendered for employee tax obligations | (267,584) | (195,087) | (163,300) |
| Excess tax benefit from stock-based compensation | 448,556 | 216,857 | 4,308 |
| Net cash (used in) provided by financing activities | (209,269) | 77,139 | (97,646) |
| Net increase (decrease) in cash and cash equivalents | 113,111 | 305,332 | (253,334) |
| Cash and cash equivalents at beginning of period | 535,608 | 230,276 | |
| Cash and cash equivalents at end of period | 648,719 | 535,608 | 230,276 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest (net of amounts capitalized) | 20,614 | 23,842 | 21,946 |
| Cash paid for income taxes | 59,847 | 1,057 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
REGENERON PHARMACEUTICALS, INC. | ||
Ticker: REGN Fiscal Year: 2014 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2014 10-K (Filed: Feb 12, 2015) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2014 | Dec 31, 2013 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 648,719 | 535,608 |
| Marketable securities | 251,761 | 158,376 |
| Accounts receivable - trade, net | 739,379 | 787,071 |
| Accounts receivable from Sanofi | 121,058 | 104,707 |
| Accounts receivable from Bayer HealthCare | 156,962 | 63,189 |
| Inventories | 128,861 | 70,354 |
| Deferred tax assets | 49,235 | 44,677 |
| Prepaid expenses and other current assets | 71,486 | 32,952 |
| Total current assets | 2,167,461 | 1,796,934 |
| Marketable securities | 460,154 | 389,891 |
| Property, plant, and equipment, at cost, net of accumulated depreciation and amortization | 974,309 | 526,983 |
| Deferred tax assets | 266,869 | 231,878 |
| Other assets | 3,034 | 5,327 |
| Total assets | 3,871,827 | 2,951,013 |
| LIABILITIES and STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | 484,228 | 250,896 |
| Deferred revenue from Sanofi, current portion | 15,927 | 12,815 |
| Deferred revenue - other, current portion | 58,098 | 34,185 |
| Other current liabilities | 96,407 | 939 |
| Total current liabilities | 654,660 | 298,835 |
| Deferred revenue from Sanofi | 72,367 | 76,522 |
| Deferred revenue - other | 103,909 | 107,677 |
| Facility lease obligations | 310,938 | 184,258 |
| Convertible senior notes | 146,773 | 320,315 |
| Other long term liabilities | 40,855 | 11,330 |
| Total liabilities | 1,329,502 | 998,937 |
| Commitments and contingencies (Note 13) | ||
| Stockholders' equity: | ||
| Preferred Stock | 0 | 0 |
| Additional paid-in capital | 2,404,118 | 2,045,857 |
| Retained earnings (accumulated deficit) | 255,382 | (92,692) |
| Accumulated other comprehensive income (loss) | 52,251 | (1,188) |
| Treasury Stock, Value | (169,530) | 0 |
| Total stockholders' equity | 2,542,325 | 1,952,076 |
| Total liabilities and stockholders' equity | 3,871,827 | 2,951,013 |
| Class of Stock | ||
| Class A Stock | ||
| Common stock | 2 | 2 |
| Total stockholders' equity | 2 | 2 |
| Common Stock | ||
| Common stock | 102 | 97 |
| Total stockholders' equity | 102 | 97 |
| External Links | |
| REGENERON PHARMACEUTICALS, INC. (REGN) Fiscal Year 2014 | |
| 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 |