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 |