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: 2020 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 8, 2021) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Statements of Operations | |||
| Revenues: | |||
| Revenues | $ 8,497,100 | 6,557,600 | 5,145,600 |
| Expenses: | |||
| Research and development | 2,735,000 | 2,450,000 | 1,468,800 |
| Selling, general, and administrative | 1,346,000 | 1,341,900 | 1,127,200 |
| Cost of goods sold and of collaboration and contract manufacturing | 402,800 | 237,500 | |
| Other operating (income) expense, net | (280,400) | (209,200) | (402,300) |
| Total expenses | 4,920,500 | 4,347,800 | 2,611,200 |
| Income from operations | 3,576,600 | 2,209,800 | 2,534,400 |
| Other income (expense): | |||
| Other income (expense), net | 290,700 | 249,500 | 47,300 |
| Interest expense | (56,900) | (30,200) | (28,200) |
| Total other income (expense) | 233,800 | 219,300 | 19,100 |
| Income before income taxes | 3,810,400 | 2,429,100 | 2,553,500 |
| Income tax expense | 297,200 | 313,300 | 109,100 |
| Net income | 3,513,200 | 2,115,800 | 2,444,400 |
| Net income per share - basic (in dollars per share) | 32.65 | 19.38 | 22.65 |
| Net income per share - diluted (in dollars per share) | 30.52 | 18.46 | 21.29 |
| Weighted average shares outstanding - basic (in shares) | 107,600 | 109,200 | 107,900 |
| Weighted average shares outstanding - diluted (in shares) | 115,100 | 114,600 | 114,800 |
| Statements of Comprehensive Income | |||
| Net income | 3,513,200 | 2,115,800 | 2,444,400 |
| Other comprehensive income (loss), net of tax: | |||
| Unrealized gain (loss) on debt securities | 9,100 | 35,900 | (7,000) |
| Unrealized (loss) gain on cash flow hedges | (900) | (2,500) | 700 |
| Comprehensive income | 3,521,400 | 2,149,200 | 2,438,100 |
| Project | |||
| Sanofi | |||
| Revenues | 403,600 | (125,700) | |
| Product and Service | |||
| Product and service, other | |||
| Revenues | 1,186,400 | 403,600 | (125,700) |
| Bayer | |||
| Revenues | 1,145,600 | 1,036,100 | |
| Revenues | 1,186,100 | 1,145,600 | 1,036,100 |
| Other | |||
| Revenues | 174,000 | 129,000 | |
| Revenues | 557,000 | 174,000 | 129,000 |
| Product and Service | |||
| Product | |||
| Revenues | 5,567,600 | 4,834,400 | 4,106,200 |
| Cost of goods sold and of collaboration and contract manufacturing | 491,900 | 362,300 | 180,000 |
| Collaboration and contract manufacturing | |||
| Cost of goods sold and of collaboration and contract manufacturing | 628,000 | 402,800 | 237,500 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
REGENERON PHARMACEUTICALS, INC. | |||
Ticker: REGN Fiscal Year: 2020 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 8, 2021) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Cash flows from operating activities: | |||
| Net income | $ 3,513,200 | 2,115,800 | 2,444,400 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 235,900 | 210,300 | 148,200 |
| Non-cash compensation expense | 432,000 | 464,300 | 427,400 |
| Other non-cash items, net | (135,000) | (29,300) | 12,100 |
| Deferred taxes | 75,600 | (130,600) | (140,000) |
| Changes in assets and liabilities: | |||
| Increase in trade, Sanofi, and other accounts receivable | (1,356,100) | (523,700) | (236,400) |
| Increase in inventories | (529,400) | (335,500) | (387,900) |
| Decrease (increase) in prepaid expenses and other assets | 114,900 | (79,800) | (88,100) |
| Increase (decrease) in deferred revenue | 148,100 | 139,500 | (43,400) |
| Increase in accounts payable, accrued expenses, and other liabilities | 118,900 | 599,000 | 58,800 |
| Total adjustments | (895,100) | 314,200 | (249,300) |
| Net cash provided by operating activities | 2,618,100 | 2,430,000 | 2,195,100 |
| Cash flows from investing activities: | |||
| Purchases of marketable and other securities | (3,241,000) | (3,202,400) | (1,845,500) |
| Sales or maturities of marketable and other securities | 3,785,000 | 1,604,200 | 775,600 |
| Capital expenditures | (614,600) | (429,600) | (383,100) |
| Other | 0 | 0 | (10,000) |
| Net cash used in investing activities | (70,600) | (2,027,800) | (1,463,000) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of long-term debt, net of issuance costs | 1,981,900 | 0 | 0 |
| Proceeds from bridge loan facility | 1,500,000 | 0 | 0 |
| Repayment of bridge loan facility | (1,500,000) | 0 | 0 |
| Proceeds from issuance of Common Stock | 2,575,200 | 211,800 | 114,500 |
| Payments in connection with Common Stock tendered for employee tax obligations | (680,800) | (188,000) | (187,200) |
| Repurchases of Common Stock | (5,846,800) | (275,900) | (4,400) |
| Net cash used in financing activities | (1,970,500) | (252,100) | (77,100) |
| Net increase in cash, cash equivalents, and restricted cash | 577,000 | 150,100 | 655,000 |
| Cash, cash equivalents, and restricted cash at beginning of period | 1,630,300 | 1,480,200 | |
| Cash, cash equivalents, and restricted cash at end of period | 2,207,300 | 1,630,300 | 1,480,200 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest (net of amounts capitalized) | 23,200 | 25,000 | 22,300 |
| Cash paid for income taxes | 188,100 | 342,300 | 205,600 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
REGENERON PHARMACEUTICALS, INC. | ||
Ticker: REGN Fiscal Year: 2020 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 8, 2021) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,193,700 | 1,617,800 |
| Marketable securities | 1,393,300 | 1,596,500 |
| Accounts receivable - trade, net | 3,111,500 | 2,100,000 |
| Inventories | 1,916,600 | 1,415,500 |
| Prepaid expenses and other current assets | 160,800 | 273,700 |
| Total current assets | 9,779,100 | 7,689,100 |
| Marketable securities | 3,135,600 | 3,256,800 |
| Property, plant, and equipment, net | 3,221,600 | 2,890,400 |
| Deferred tax assets | 858,900 | 824,200 |
| Other noncurrent assets | 168,100 | 144,700 |
| Total assets | 17,163,300 | 14,805,200 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 475,500 | 418,100 |
| Accrued expenses and other current liabilities | 1,521,800 | 1,211,400 |
| Other liabilities - Sanofi | 122,400 | 85,000 |
| Total current liabilities | 2,697,400 | 2,096,600 |
| Long-term debt | 1,978,500 | 0 |
| Finance lease liabilities | 717,200 | 713,900 |
| Total liabilities | 6,138,000 | 3,715,500 |
| Commitments and contingencies (Note 10) | ||
| Stockholders' equity: | ||
| Preferred Stock, $.01 par value; 30,000,000 shares authorized; issued and outstanding - none | 0 | 0 |
| Additional paid-in capital | 6,716,200 | 4,428,600 |
| Retained earnings | 10,893,000 | 7,379,800 |
| Accumulated other comprehensive income | 29,300 | 21,100 |
| Treasury Stock, at cost; 16,431,520 shares in 2020 and 4,860,123 shares in 2019 | (6,613,300) | (739,900) |
| Total stockholders' equity | 11,025,300 | 11,089,700 |
| Total liabilities and stockholders' equity | 17,163,300 | 14,805,200 |
| Project | ||
| Sanofi | ||
| Accounts receivable | 404,700 | 260,600 |
| Deferred revenue, current | 341,700 | 310,500 |
| Deferred revenue, noncurrent | 16,700 | 27,700 |
| Other noncurrent liabilities | 189,300 | 482,000 |
| Other | ||
| Accounts receivable | 598,500 | 425,000 |
| Deferred revenue, current | 236,000 | 71,600 |
| Deferred revenue, noncurrent | 41,100 | 77,600 |
| Other noncurrent liabilities | 497,800 | 317,700 |
| Class of Stock | ||
| Class A Stock | ||
| Common stock | 0 | 0 |
| Common Stock | ||
| Common stock | 100 | 100 |
| Total stockholders' equity | 100 | 100 |
| External Links | |
| REGENERON PHARMACEUTICALS, INC. (REGN) Fiscal Year 2020 | |
| 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 |