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: 2022 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 6, 2023) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Statements of Operations | |||
| Revenues: | |||
| Revenue from contract with customer | $ 12,172,900 | 16,071,700 | 8,497,100 |
| Expenses: | |||
| Research and development | 3,592,500 | 2,860,100 | 2,647,000 |
| Acquired in-process research and development | 255,100 | 48,000 | 88,000 |
| Selling, general, and administrative | 2,115,900 | 1,824,900 | 1,346,000 |
| Other operating (income) expense, net | (89,900) | (45,600) | (280,400) |
| Total expenses | 7,434,000 | 7,124,900 | 4,920,500 |
| Income from operations | 4,738,900 | 8,946,800 | 3,576,600 |
| Other income (expense): | |||
| Other income (expense), net | 179,300 | 436,300 | 290,700 |
| Interest expense | (59,400) | (57,300) | (56,900) |
| Total other income (expense) | 119,900 | 379,000 | 233,800 |
| Income before income taxes | 4,858,800 | 9,325,800 | 3,810,400 |
| Income tax expense | 520,400 | 1,250,500 | 297,200 |
| Net income | 4,338,400 | 8,075,300 | 3,513,200 |
| Net income per share - basic (in dollars per share) | 40.51 | 76.40 | 32.65 |
| Net income per share - diluted (in dollars per share) | 38.22 | 71.97 | 30.52 |
| Weighted average shares outstanding - basic (in shares) | 107,100 | 105,700 | 107,600 |
| Weighted average shares outstanding - diluted (in shares) | 113,500 | 112,200 | 115,100 |
| Statements of Comprehensive Income | |||
| Net income | 4,338,400 | 8,075,300 | 3,513,200 |
| Other comprehensive income (loss), net of tax: | |||
| Unrealized (loss) gain on debt securities | (213,600) | (56,400) | 9,100 |
| Unrealized gain (loss) on cash flow hedges | 1,000 | 900 | (900) |
| Comprehensive income | 4,125,800 | 8,019,800 | 3,521,400 |
| Product and Service | |||
| Net product sales | |||
| Revenue from contract with customer | 6,893,700 | 12,117,200 | 5,567,600 |
| Cost of goods sold and of collaboration and contract manufacturing | 800,000 | 1,773,100 | 491,900 |
| Sanofi collaboration revenue | |||
| Revenue from contract with customer | 2,855,700 | 1,902,200 | 1,186,400 |
| Other collaboration revenue | |||
| Revenue from contract with customer | 2,058,400 | 1,771,100 | 1,186,100 |
| Other revenue | |||
| Revenue from contract with customer | 365,100 | 281,200 | 557,000 |
| Cost of collaboration and contract manufacturing | |||
| Cost of goods sold and of collaboration and contract manufacturing | 760,400 | 664,400 | 628,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
REGENERON PHARMACEUTICALS, INC. | |||
Ticker: REGN Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 6, 2023) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash flows from operating activities: | |||
| Net income | $ 4,338,400 | 8,075,300 | 3,513,200 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 341,400 | 286,200 | 235,900 |
| Stock-based compensation expense | 725,000 | 601,700 | 432,000 |
| Losses (gains) on marketable and other securities, net | 36,800 | (387,000) | (221,800) |
| Other non-cash items, net | 368,000 | 568,700 | 86,800 |
| Deferred income taxes | (746,400) | (147,100) | 75,600 |
| Acquired in-process research and development in connection with asset acquisition | 195,000 | 0 | 0 |
| Changes in assets and liabilities: | |||
| Decrease (increase) in accounts receivable | 707,800 | (1,927,400) | (1,356,100) |
| Increase in inventories | (696,500) | (494,300) | (529,400) |
| (Increase) decrease in prepaid expenses and other assets | (148,600) | (240,700) | 114,900 |
| Increase (decrease) in deferred revenue | 32,400 | (120,200) | 148,100 |
| (Decrease) increase in accounts payable, accrued expenses, and other liabilities | (138,400) | 866,100 | 118,900 |
| Total adjustments | 676,500 | (994,000) | (895,100) |
| Net cash provided by operating activities | 5,014,900 | 7,081,300 | 2,618,100 |
| Cash flows from investing activities: | |||
| Purchases of marketable and other securities | (7,487,900) | (7,048,100) | (3,241,000) |
| Sales or maturities of marketable and other securities | 5,550,500 | 2,215,300 | 3,785,000 |
| Capital expenditures | (590,100) | (551,900) | (614,600) |
| Payments for Libtayo intangible asset | (1,026,800) | 0 | 0 |
| Asset acquisition, net of cash acquired | (230,300) | 0 | 0 |
| Net cash used in investing activities | (3,784,600) | (5,384,700) | (70,600) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of Common Stock | 1,519,500 | 1,672,300 | 2,575,200 |
| Payments in connection with Common Stock tendered for employee tax obligations | (445,700) | (1,032,700) | (680,800) |
| Repurchases of Common Stock | (2,082,800) | (1,645,400) | (5,846,800) |
| Proceeds from issuance of long-term debt | 0 | 0 | 1,981,900 |
| Proceeds from bridge loan facility | 0 | 0 | 1,500,000 |
| Repayment of bridge loan facility | 0 | 0 | (1,500,000) |
| Net cash used in financing activities | (1,009,000) | (1,005,800) | (1,970,500) |
| Net increase in cash, cash equivalents, and restricted cash | 221,300 | 690,800 | 577,000 |
| Cash, cash equivalents, and restricted cash at beginning of period | 2,898,100 | 2,207,300 | |
| Cash, cash equivalents, and restricted cash at end of period | 3,119,400 | 2,898,100 | 2,207,300 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest (net of amounts capitalized) | 53,700 | 55,800 | 23,200 |
| Cash paid for income taxes | 1,502,400 | 1,218,400 | 188,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
REGENERON PHARMACEUTICALS, INC. | ||
Ticker: REGN Fiscal Year: 2022 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 6, 2023) | ||
| (In Thousands) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 3,105,900 | 2,885,600 |
| Marketable securities | 4,636,400 | 2,809,100 |
| Accounts receivable, net | 5,328,700 | 6,036,500 |
| Inventories | 2,401,900 | 1,951,300 |
| Prepaid expenses and other current assets | 411,200 | 332,400 |
| Total current assets | 15,884,100 | 14,014,900 |
| Marketable securities | 6,591,800 | 6,838,000 |
| Property, plant, and equipment, net | 3,763,000 | 3,482,200 |
| Intangible assets, net | 915,500 | 6,700 |
| Deferred tax assets | 1,723,700 | 876,900 |
| Other noncurrent assets | 336,400 | 216,100 |
| Total assets | 29,214,500 | 25,434,800 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 589,200 | 564,000 |
| Accrued expenses and other current liabilities | 2,074,200 | 2,206,800 |
| Finance lease liabilities | 0 | 719,700 |
| Deferred revenue | 477,900 | 442,000 |
| Total current liabilities | 3,141,300 | 3,932,500 |
| Long-term debt | 1,981,400 | 1,980,000 |
| Finance lease liabilities | 720,000 | 0 |
| Deferred revenue | 69,800 | 73,300 |
| Other noncurrent liabilities | 638,000 | 680,200 |
| Total liabilities | 6,550,500 | 6,666,000 |
| Commitments and contingencies (Note 11) | ||
| Stockholders' equity: | ||
| Preferred Stock, par value $.01 per share; 30.0 shares authorized; issued and outstanding - none | 0 | 0 |
| Additional paid-in capital | 9,949,300 | 8,087,500 |
| Retained earnings | 23,306,700 | 18,968,300 |
| Accumulated other comprehensive loss | (238,800) | (26,200) |
| Treasury Stock, at cost; 22.6 shares in 2022 and 19.4 shares in 2021 | (10,353,300) | (8,260,900) |
| Total stockholders' equity | 22,664,000 | 18,768,800 |
| Total liabilities and stockholders' equity | 29,214,500 | 25,434,800 |
| Class of Stock | ||
| Class A Stock | ||
| Common stock | 0 | 0 |
| Common Stock, shares issued (in shares) | 1,800 | 1,800 |
| Common Stock | ||
| Common stock | 100 | 100 |
| Common Stock, shares issued (in shares) | 130,400 | 126,200 |
| External Links | |
| REGENERON PHARMACEUTICALS, INC. (REGN) Fiscal Year 2022 | |
| 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 |