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: 2017 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 8, 2018) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Income Statement [Abstract] | |||
| Revenues: | |||
| Net product sales | $ 3,718,463 | 3,338,390 | 2,689,478 |
| Sanofi collaboration revenue | 877,193 | 658,665 | 758,873 |
| Bayer collaboration revenue | 938,052 | 744,270 | 580,488 |
| Other revenue | 338,519 | 119,102 | 74,889 |
| Total revenues | 5,872,227 | 4,860,427 | 4,103,728 |
| Expenses: | |||
| Research and development | 2,075,142 | 2,052,295 | 1,620,577 |
| Selling, general, and administrative | 1,320,433 | 1,177,697 | 838,526 |
| Cost of goods sold | 202,507 | 194,624 | 241,702 |
| Cost of collaboration and contract manufacturing | 194,554 | 105,070 | 151,007 |
| Total expenses | 3,792,636 | 3,529,686 | 2,851,812 |
| Income from operations | 2,079,591 | 1,330,741 | 1,251,916 |
| Other income (expense): | |||
| Other income (expense), net | 24,039 | 6,269 | (12,578) |
| Interest expense, net | (25,119) | (7,195) | (14,241) |
| Total other income (expense) | (1,080) | (926) | (26,819) |
| Income before income taxes | 2,078,511 | 1,329,815 | 1,225,097 |
| Income tax expense | (880,000) | (434,293) | (589,041) |
| Net income | 1,198,511 | 895,522 | 636,056 |
| Net income per share - basic | 11.27 | 8.55 | 6.17 |
| Net income per share - diluted | 10.34 | 7.70 | 5.52 |
| Weighted average shares outstanding - basic | 106,338 | 104,719 | 103,061 |
| Weighted average shares outstanding - diluted | 115,954 | 116,367 | 115,230 |
| Statements of Comprehensive Income | |||
| Net income | 1,198,511 | 895,522 | 636,056 |
| Other comprehensive income (loss), net of tax: | |||
| Unrealized (loss) gain on marketable securities | 12,715 | (21,412) | (43,679) |
| Unrealized gain on cash flow hedges | 765 | 0 | 0 |
| Comprehensive income | 1,211,991 | 874,110 | 592,377 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
REGENERON PHARMACEUTICALS, INC. | |||
Ticker: REGN Fiscal Year: 2017 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 8, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Cash flows from operating activities: | |||
| Net income | $ 1,198,511 | 895,522 | 636,056 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 145,467 | 104,745 | 74,909 |
| Non-cash compensation expense | 507,277 | 559,878 | 459,049 |
| Other non-cash charges and expenses, net | 63,581 | 45,139 | 52,562 |
| Deferred Taxes | 318,809 | (360,078) | (121,623) |
| Changes in assets and liabilites | |||
| Increase in Sanofi, Bayer, and trade accounts receivable | (362,720) | (143,827) | (491,421) |
| Increase in Inventories | (314,195) | (149,776) | (111,825) |
| (Increase) decrease in prepaid expenses and other assets | (113,331) | 23,543 | (79,476) |
| (Decrease) increase in deferred revenue | (113,099) | 244,270 | 608,892 |
| (Decrease) increase in accounts payable, accrued expenses and other liabilities | (23,188) | 253,980 | 303,657 |
| Total adjustments | 108,601 | 577,874 | 694,724 |
| Net cash provided by operating activities | 1,307,112 | 1,473,396 | 1,330,780 |
| Cash flows from investing activities: | |||
| Purchases of marketable and other securities | (1,277,140) | (809,419) | (557,105) |
| Sales or maturities of marketable securities | 544,584 | 274,456 | 327,437 |
| Capital expenditures | (272,626) | (511,941) | (677,933) |
| Net cash used in investing activities | (1,005,182) | (1,046,904) | (907,601) |
| Cash flows from financing activities: | |||
| Proceeds in connection with capital and facility lease obligations | 57,000 | 5,085 | 27,373 |
| Payments in connection with capital and facility lease obligations | (19,925) | (32,774) | (1,353) |
| Repayments of convertible senior notes | 0 | (12,894) | (166,467) |
| Payments in connection with reduction of outstanding warrants | 0 | (643,365) | (573,487) |
| Proceeds from issuance of Common Stock | 240,213 | 126,739 | 206,358 |
| Payments in connection with Common Stock tendered for employee tax obligations | (301,688) | (143,182) | (160,537) |
| Excess Tax Benefit from Share-based compensation | 0 | 0 | 405,317 |
| Net cash used in financing activities | (24,400) | (700,391) | (262,796) |
| Net increase (decrease) in cash and cash equivalents | 277,530 | (273,899) | 160,383 |
| Cash and cash equivalents at beginning of period | 535,203 | 809,102 | |
| Cash and cash equivalents at end of period | 812,733 | 535,203 | 809,102 |
| Cash paid for interest (net of amounts capitalized) | 18,678 | 5,454 | 10,582 |
| Cash paid for income taxes | 754,843 | 481,360 | 276,092 |
| Class of Warrant or Right | |||
| Warrant | |||
| Payments in connection with reduction of outstanding warrants | (399,500) | ||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
REGENERON PHARMACEUTICALS, INC. | ||
Ticker: REGN Fiscal Year: 2017 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 8, 2018) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 812,733 | 535,203 |
| Marketable securities | 596,847 | 503,481 |
| Accounts receivable - trade, net | 1,538,642 | 1,343,368 |
| Accounts receivable from Sanofi | 193,684 | 92,989 |
| Accounts receivable from Bayer | 242,014 | 175,263 |
| Inventories | 726,138 | 399,356 |
| Prepaid expenses and other current assets | 224,972 | 130,528 |
| Total current assets | 4,335,030 | 3,180,188 |
| Marketable securities | 1,486,494 | 864,260 |
| Property, plant, and equipment, net | 2,358,605 | 2,083,421 |
| Deferred tax assets | 506,291 | 825,303 |
| Other assets | 77,866 | 20,294 |
| Total assets | 8,764,286 | 6,973,466 |
| LIABILITIES and STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | 815,078 | 879,096 |
| Capital and facility lease obligations | 0 | 129,557 |
| Deferred revenue from Sanofi, current portion | 177,746 | 115,267 |
| Deferred revenue - other, current portion | 142,392 | 116,397 |
| Other current liabilities | 267 | 1,178 |
| Total current liabilities | 1,135,483 | 1,241,495 |
| Capital and facility lease obligations, noncurrent | 703,453 | 351,569 |
| Deferred revenue from Sanofi | 379,936 | 503,474 |
| Deferred revenue - other | 249,263 | 327,298 |
| Other long term liabilities | 152,073 | 100,385 |
| Total liabilities | 2,620,208 | 2,524,221 |
| Commitments and contingencies (Note 12) | ||
| Stockholders' equity: | ||
| Preferred Stock | 0 | 0 |
| Additional paid-in capital | 3,512,833 | 3,029,993 |
| Retained earnings | 2,946,733 | 1,748,222 |
| Accumulated other comprehensive (loss) income | 640 | (12,840) |
| Treasury Stock | (316,240) | (316,240) |
| Total stockholders' equity | 6,144,078 | 4,449,245 |
| Total liabilities and stockholders' equity | 8,764,286 | 6,973,466 |
| Class of Stock | ||
| Class A Stock | ||
| Common stock | 2 | 2 |
| Total stockholders' equity | 2 | 2 |
| Common Stock | ||
| Common stock | 110 | 108 |
| Total stockholders' equity | 110 | 108 |
| External Links | |
| REGENERON PHARMACEUTICALS, INC. (REGN) Fiscal Year 2017 | |
| 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 |