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: 2021 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 7, 2022) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Statements of Operations | |||
| Revenues: | |||
| Revenue from contract with customer | $ 16,071,700 | 8,497,100 | 6,557,600 |
| Expenses: | |||
| Research and development | 2,908,100 | 2,735,000 | 2,450,000 |
| Selling, general, and administrative | 1,824,900 | 1,346,000 | 1,341,900 |
| Other operating (income) expense, net | (45,600) | (280,400) | (209,200) |
| Total expenses | 7,124,900 | 4,920,500 | 4,347,800 |
| Income from operations | 8,946,800 | 3,576,600 | 2,209,800 |
| Other income (expense): | |||
| Other income (expense), net | 436,300 | 290,700 | 249,500 |
| Interest expense | (57,300) | (56,900) | (30,200) |
| Total other income (expense) | 379,000 | 233,800 | 219,300 |
| Income before income taxes | 9,325,800 | 3,810,400 | 2,429,100 |
| Income tax expense | 1,250,500 | 297,200 | 313,300 |
| Net income | 8,075,300 | 3,513,200 | 2,115,800 |
| Net income per share - basic (in dollars per share) | 76.40 | 32.65 | 19.38 |
| Net income per share - diluted (in dollars per share) | 71.97 | 30.52 | 18.46 |
| Weighted average shares outstanding - basic (in shares) | 105,700 | 107,600 | 109,200 |
| Weighted average shares outstanding - diluted (in shares) | 112,200 | 115,100 | 114,600 |
| Statements of Comprehensive Income | |||
| Net income | 8,075,300 | 3,513,200 | 2,115,800 |
| Other comprehensive income (loss), net of tax: | |||
| Unrealized (loss) gain on debt securities | (56,400) | 9,100 | 35,900 |
| Unrealized gain (loss) on cash flow hedges | 900 | (900) | (2,500) |
| Comprehensive income | 8,019,800 | 3,521,400 | 2,149,200 |
| Project | |||
| Sanofi | |||
| Product and Service | |||
| Collaboration revenue | |||
| Revenue from contract with customer | 1,902,200 | 1,186,400 | 403,600 |
| Other collaboration | |||
| Revenue from contract with customer | 1,771,100 | 1,186,100 | 1,145,600 |
| Product and Service | |||
| Net product sales | |||
| Revenue from contract with customer | 12,117,200 | 5,567,600 | 4,834,400 |
| Cost of goods sold and of collaboration and contract manufacturing | 1,773,100 | 491,900 | 362,300 |
| Other revenue | |||
| Revenue from contract with customer | 281,200 | 557,000 | 174,000 |
| Cost of collaboration and contract manufacturing | |||
| Cost of goods sold and of collaboration and contract manufacturing | 664,400 | 628,000 | 402,800 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
REGENERON PHARMACEUTICALS, INC. | |||
Ticker: REGN Fiscal Year: 2021 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 7, 2022) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash flows from operating activities: | |||
| Net income | $ 8,075,300 | 3,513,200 | 2,115,800 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 286,200 | 235,900 | 210,300 |
| Non-cash compensation expense | 601,700 | 432,000 | 464,300 |
| Gains on marketable and other securities, net | (387,000) | (221,800) | (131,500) |
| Other non-cash items, net | 568,700 | 86,800 | 102,200 |
| Deferred taxes | (147,100) | 75,600 | (130,600) |
| Changes in assets and liabilities: | |||
| Increase in accounts receivable | (1,927,400) | (1,356,100) | (523,700) |
| Increase in inventories | (494,300) | (529,400) | (335,500) |
| (Increase) decrease in prepaid expenses and other assets | (240,700) | 114,900 | (79,800) |
| (Decrease) increase in deferred revenue | (120,200) | 148,100 | 139,500 |
| Increase in accounts payable, accrued expenses, and other liabilities | 866,100 | 118,900 | 599,000 |
| Total adjustments | (994,000) | (895,100) | 314,200 |
| Net cash provided by operating activities | 7,081,300 | 2,618,100 | 2,430,000 |
| Cash flows from investing activities: | |||
| Purchases of marketable and other securities | (7,048,100) | (3,241,000) | (3,202,400) |
| Sales or maturities of marketable and other securities | 2,215,300 | 3,785,000 | 1,604,200 |
| Capital expenditures | (551,900) | (614,600) | (429,600) |
| Net cash used in investing activities | (5,384,700) | (70,600) | (2,027,800) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of Common Stock | 1,672,300 | 2,575,200 | 211,800 |
| Payments in connection with Common Stock tendered for employee tax obligations | (1,032,700) | (680,800) | (188,000) |
| Repurchases of Common Stock | (1,645,400) | (5,846,800) | (275,900) |
| Proceeds from issuance of long-term debt | 0 | 1,981,900 | 0 |
| Proceeds from bridge loan facility | 0 | 1,500,000 | 0 |
| Repayment of bridge loan facility | 0 | (1,500,000) | 0 |
| Net cash used in financing activities | (1,005,800) | (1,970,500) | (252,100) |
| Net increase in cash, cash equivalents, and restricted cash | 690,800 | 577,000 | 150,100 |
| Cash, cash equivalents, and restricted cash at beginning of period | 2,207,300 | 1,630,300 | |
| Cash, cash equivalents, and restricted cash at end of period | 2,898,100 | 2,207,300 | 1,630,300 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest (net of amounts capitalized) | 55,800 | 23,200 | 25,000 |
| Cash paid for income taxes | 1,218,400 | 188,100 | 342,300 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
REGENERON PHARMACEUTICALS, INC. | ||
Ticker: REGN Fiscal Year: 2021 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 7, 2022) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,885,600 | 2,193,700 |
| Marketable securities | 2,809,100 | 1,393,300 |
| Accounts receivable, net | 6,036,500 | 4,114,700 |
| Inventories | 1,951,300 | 1,916,600 |
| Prepaid expenses and other current assets | 332,400 | 160,800 |
| Total current assets | 14,014,900 | 9,779,100 |
| Marketable securities | 6,838,000 | 3,135,600 |
| Property, plant, and equipment, net | 3,482,200 | 3,221,600 |
| Deferred tax assets | 876,900 | 858,900 |
| Other noncurrent assets | 222,800 | 168,100 |
| Total assets | 25,434,800 | 17,163,300 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 564,000 | 475,500 |
| Accrued expenses and other current liabilities | 2,206,800 | 1,644,200 |
| Finance lease liabilities | 719,700 | 0 |
| Deferred revenue | 442,000 | 577,700 |
| Total current liabilities | 3,932,500 | 2,697,400 |
| Long-term debt | 1,980,000 | 1,978,500 |
| Finance lease liabilities | 0 | 717,200 |
| Deferred revenue | 73,300 | 57,800 |
| Other noncurrent liabilities | 680,200 | 687,100 |
| Total liabilities | 6,666,000 | 6,138,000 |
| 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 | 8,087,500 | 6,716,200 |
| Retained earnings | 18,968,300 | 10,893,000 |
| Accumulated other comprehensive (loss) income | (26,200) | 29,300 |
| Treasury Stock, at cost; 19,392,961 shares in 2021 and 16,431,520 shares in 2020 | (8,260,900) | (6,613,300) |
| Total stockholders' equity | 18,768,800 | 11,025,300 |
| Total liabilities and stockholders' equity | 25,434,800 | 17,163,300 |
| Class of Stock | ||
| Class A Stock | ||
| Common stock | 0 | 0 |
| Common Stock | ||
| Common stock | 100 | 100 |
| External Links | |
| REGENERON PHARMACEUTICALS, INC. (REGN) Fiscal Year 2021 | |
| 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 |