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: 2016 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 9, 2017) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Income Statement [Abstract] | |||
| Revenues: | |||
| Net product sales | $ 3,338,390 | 2,689,478 | 1,750,762 |
| Sanofi collaboration revenue | 658,665 | 758,873 | 541,299 |
| Bayer collaboration revenue | 744,270 | 580,488 | 495,555 |
| Other revenue | 119,102 | 74,889 | 31,941 |
| Total revenues | 4,860,427 | 4,103,728 | 2,819,557 |
| Expenses: | |||
| Research and development | 2,052,295 | 1,620,577 | 1,271,353 |
| Selling, general, and administrative | 1,177,697 | 838,526 | 519,267 |
| Cost of goods sold | 194,624 | 241,702 | 129,030 |
| Cost of collaboration and contract manufacturing | 105,070 | 151,007 | 75,988 |
| Total expenses | 3,529,686 | 2,851,812 | 1,995,638 |
| Income from operations | 1,330,741 | 1,251,916 | 823,919 |
| Other income (expense): | |||
| Other income (expense), net | 6,269 | (12,578) | (25,312) |
| Interest expense | (7,195) | (14,241) | (37,372) |
| Total other income (expense) | (926) | (26,819) | (62,684) |
| Income before income taxes | 1,329,815 | 1,225,097 | 761,235 |
| Income tax expense | (434,293) | (589,041) | (423,109) |
| Net income | 895,522 | 636,056 | 338,126 |
| Net income per share - basic | 8.55 | 6.17 | 3.36 |
| Net income per share - diluted | 7.70 | 5.52 | 2.98 |
| Weighted average shares outstanding - basic | 104,719 | 103,061 | 100,612 |
| Weighted average shares outstanding - diluted | 116,367 | 115,230 | 113,413 |
| Statements of Comprehensive Income | |||
| Net income | 895,522 | 636,056 | 338,126 |
| Other comprehensive income (loss): | |||
| Unrealized (loss) gain on marketable securities, net of tax | (21,412) | (43,679) | 53,439 |
| Comprehensive income | 874,110 | 592,377 | 391,565 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
REGENERON PHARMACEUTICALS, INC. | |||
Ticker: REGN Fiscal Year: 2016 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 9, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Cash flows from operating activities: | |||
| Net income | $ 895,522 | 636,056 | 338,126 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 104,745 | 74,909 | 52,686 |
| Non-cash compensation expense | 559,878 | 459,049 | 321,750 |
| Other non-cash charges and expenses, net | 45,139 | 52,562 | 77,571 |
| Deferred Taxes | (360,078) | (121,623) | (53,276) |
| Changes in assets and liabilites | |||
| Increase in Sanofi, Bayer, and trade accounts receivable | (143,827) | (491,421) | (34,927) |
| Increase in Inventories | (149,776) | (111,825) | (56,947) |
| Decrease (increase) in prepaid expenses and other assets | 23,543 | (79,476) | (45,327) |
| Increase (decrease) in deferred revenue | 244,270 | 608,892 | (8,403) |
| Increase in accounts payable, accrued expenses and other liabilities | 253,980 | 303,657 | 161,182 |
| Total adjustments | 577,874 | 694,724 | 414,309 |
| Net cash provided by operating activities | 1,473,396 | 1,330,780 | 752,435 |
| Cash flows from investing activities: | |||
| Purchases of marketable securities | (809,419) | (557,105) | (564,188) |
| Sales or maturities of marketable securities | 274,456 | 327,437 | 476,417 |
| Capital expenditures | (511,941) | (677,933) | (333,006) |
| Net cash used in by investing activities | (1,046,904) | (907,601) | (420,777) |
| Cash flows from financing activities: | |||
| (Payments) proceeds in connection with capital and facility lease obligations | (27,689) | 26,020 | (1,095) |
| Repayments of convertible senior notes | (12,894) | (166,467) | (220,639) |
| Payments in connection with reduction of outstanding warrants | (643,365) | (573,487) | (294,552) |
| Proceeds from issuance of Common Stock | 126,739 | 206,358 | 126,045 |
| Payments in connection with Common Stock tendered for employee tax obligations | (143,182) | (160,537) | (267,584) |
| Excess tax benefit from stock-based compensation | 0 | 405,317 | 439,278 |
| Net cash (used in) provided by financing activities | (700,391) | (262,796) | (218,547) |
| Net (decrease) increase in cash and cash equivalents | (273,899) | 160,383 | 113,111 |
| Cash and cash equivalents at beginning of period | 809,102 | 648,719 | |
| Cash and cash equivalents at end of period | 535,203 | 809,102 | 648,719 |
| Cash paid for interest (net of amounts capitalized) | 5,454 | 10,582 | 20,348 |
| Cash paid for income taxes | 481,360 | 276,092 | 59,847 |
| 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: 2016 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 9, 2017) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 535,203 | 809,102 |
| Marketable securities | 503,481 | 236,121 |
| Accounts receivable - trade, net | 1,343,368 | 1,152,489 |
| Accounts receivable from Sanofi | 92,989 | 153,152 |
| Accounts receivable from Bayer HealthCare | 175,263 | 162,152 |
| Inventories | 399,356 | 238,578 |
| Prepaid expenses and other current assets | 130,528 | 163,501 |
| Total current assets | 3,180,188 | 2,915,095 |
| Marketable securities | 864,260 | 632,162 |
| Property, plant, and equipment, net | 2,083,421 | 1,594,120 |
| Deferred tax assets | 825,303 | 461,945 |
| Other assets | 20,294 | 5,810 |
| Total assets | 6,973,466 | 5,609,132 |
| LIABILITIES and STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | 879,096 | 644,112 |
| Capital Lease Obligations | 127,274 | 0 |
| Deferred revenue from Sanofi, current portion | 115,267 | 101,573 |
| Deferred revenue - other, current portion | 116,397 | 51,914 |
| Other current liabilities | 3,461 | 13,563 |
| Total current liabilities | 1,241,495 | 811,162 |
| Deferred revenue from Sanofi | 503,474 | 582,664 |
| Deferred revenue - other | 327,298 | 82,015 |
| Facility lease obligations | 351,569 | 362,919 |
| Other long term liabilities | 100,385 | 115,535 |
| Total liabilities | 2,524,221 | 1,954,295 |
| Commitments and contingencies (Note 12) | ||
| Stockholders' equity: | ||
| Preferred Stock | 0 | 0 |
| Additional paid-in capital | 3,029,993 | 3,099,526 |
| Retained earnings | 1,748,222 | 852,700 |
| Accumulated other comprehensive (loss) income | (12,840) | 8,572 |
| Treasury Stock | (316,240) | (306,069) |
| Total stockholders' equity | 4,449,245 | 3,654,837 |
| Total liabilities and stockholders' equity | 6,973,466 | 5,609,132 |
| Class of Stock | ||
| Class A Stock | ||
| Common stock | 2 | 2 |
| Total stockholders' equity | 2 | 2 |
| Common Stock | ||
| Common stock | 108 | 106 |
| Total stockholders' equity | 108 | 106 |
| External Links | |
| REGENERON PHARMACEUTICALS, INC. (REGN) Fiscal Year 2016 | |
| 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 |