10-Q Filing

REGENERON PHARMACEUTICALS, INC. CIK: 872589 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001532176-19-000017`
Period End Date	20190331
Filing Date	20190507
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	regn-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 38 Cash Flow Statement 50 Stockholders Equity 20

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.02B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.71B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.47B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.34B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.52B	USD	Point-in-time
Accounts receivable - trade, net	`AccountsReceivableNetCurrent`	$1.73B	USD	Point-in-time
Accounts receivable - trade, net	`AccountsReceivableNetCurrent`	$1.72B	USD	Point-in-time
Accounts receivable from Sanofi	`AccountsReceivableRelatedPartiesCurrent`	$287.60M	USD	Point-in-time
Accounts receivable from Sanofi	`AccountsReceivableRelatedPartiesCurrent`	$226.40M	USD	Point-in-time
Treasury stock, outstanding (in shares)	`TreasuryStockShares`	3.99M	shares	Point-in-time
Treasury stock, outstanding (in shares)	`TreasuryStockShares`	4.05M	shares	Point-in-time
Accounts receivable from Bayer	`AccountsAndNotesReceivableNet`	$293.10M	USD	Point-in-time
Accounts receivable from Bayer	`AccountsAndNotesReceivableNet`	$289.20M	USD	Point-in-time
Inventories	`InventoryNet`	$1.15B	USD	Point-in-time
Inventories	`InventoryNet`	$1.21B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$182.20M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$243.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.93B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.45B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$2.34B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$1.75B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$2.61B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$2.58B	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$829.30M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$828.70M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$144.30M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$127.40M	USD	Point-in-time
Total assets	`Assets`	$12.85B	USD	Point-in-time
Total assets	`Assets`	$11.73B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$218.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$239.60M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$772.10M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$741.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.44B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.51B	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$709.90M	USD	Point-in-time
Finance lease liabilities	`Capitalandfacilityleaseobligationsnoncurrent`	$708.50M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$361.70M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$376.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.98B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.41B	USD	Point-in-time
Preferred Stock, $.01 par value; 30,000,000 shares authorized; issued and outstanding - none	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $.01 par value; 30,000,000 shares authorized; issued and outstanding - none	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.16B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.91B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.73B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.25B	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.80M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.30M	USD	Point-in-time
Treasury Stock, at cost; 4,046,627 shares in 2019 and 3,990,021 shares in 2018	`TreasuryStockValue`	$444.20M	USD	Point-in-time
Treasury Stock, at cost; 4,046,627 shares in 2019 and 3,990,021 shares in 2018	`TreasuryStockValue`	$396.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.57B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.14B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.76B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.44B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.73B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$12.85B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.71B	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.51B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$641.80M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$498.60M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$330.80M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$410.80M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.23B	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$944.30M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$567.20M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$480.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$24.60M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$73.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$7.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.40M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$66.10M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$18.20M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$546.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$585.40M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$107.40M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$85.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$478.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$461.10M	USD	1 Quarter
Net income per share - basic (in dollars per share)	`EarningsPerShareBasic`	$4.44	USD	1 Quarter
Net income per share - basic (in dollars per share)	`EarningsPerShareBasic`	$4.23	USD	1 Quarter
Net income per share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$4.16	USD	1 Quarter
Net income per share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$3.99	USD	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	107.60M	shares	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	108.90M	shares	1 Quarter
Weighted average shares - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	114.90M	shares	1 Quarter
Weighted average shares - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	115.50M	shares	1 Quarter
Net income	`NetIncomeLoss`	$478.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$461.10M	USD	1 Quarter
Unrealized gain (loss) on debt securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-11.10M	USD	1 Quarter
Unrealized gain (loss) on debt securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$16.10M	USD	1 Quarter
Unrealized (loss) gain on cash flow hedges	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$1.40M	USD	1 Quarter
Unrealized (loss) gain on cash flow hedges	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-1.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$476.20M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$468.30M	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$478.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$461.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$36.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$51.00M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$107.90M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$82.40M	USD	1 Quarter
Other non-cash items, net	`OtherNoncashIncomeExpense`	$23.80M	USD	1 Quarter
Other non-cash items, net	`OtherNoncashIncomeExpense`	$4.20M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$6.40M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$10.70M	USD	1 Quarter
(Increase) decrease in Sanofi, Bayer, and trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$106.10M	USD	1 Quarter
(Increase) decrease in Sanofi, Bayer, and trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-30.40M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$88.80M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$58.60M	USD	1 Quarter
Decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-69.30M	USD	1 Quarter
Decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-68.80M	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-54.50M	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$426.50M	USD	1 Quarter
(Decrease) increase in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$76.70M	USD	1 Quarter
(Decrease) increase in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-19.60M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$140.80M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$435.90M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$618.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$897.00M	USD	1 Quarter
Purchases of marketable and other securities	`PaymentsToAcquireMarketableSecurities`	$601.30M	USD	1 Quarter
Purchases of marketable and other securities	`PaymentsToAcquireMarketableSecurities`	$1.04B	USD	1 Quarter
Sales or maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$338.40M	USD	1 Quarter
Sales or maturities of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$255.30M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$79.40M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$74.30M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-776.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-425.40M	USD	1 Quarter
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$13.40M	USD	1 Quarter
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$140.60M	USD	1 Quarter
Payments in connection with Common Stock tendered for employee tax obligations	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Payments in connection with Common Stock tendered for employee tax obligations	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$10.70M	USD	1 Quarter
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$10.00M	USD	1 Quarter
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$119.90M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.40M	USD	1 Quarter
Net increase in cash, cash equivalents, and restricted cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$206.80M	USD	1 Quarter
Net increase in cash, cash equivalents, and restricted cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$240.80M	USD	1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.48B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.72B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.03B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$825.20M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.48B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.72B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.03B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$825.20M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$6.57B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$6.14B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$8.76B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$9.44B	USD	Point-in-time
Issuance of Common Stock in connection with exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$13.60M	USD	1 Quarter
Issuance of Common Stock in connection with exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$140.90M	USD	1 Quarter
Common Stock tendered upon exercise of stock options and vesting of restricted stock in connection with employee tax obligations	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$10.70M	USD	1 Quarter
Issuance of Common Stock in connection with Company 401(k) Savings Plan	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$-700.00K	USD	1 Quarter
Issuance of Common Stock in connection with Company 401(k) Savings Plan	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$10.50M	USD	1 Quarter
Repurchases of Common Stock from Sanofi	`TreasuryStockValueAcquiredCostMethod`	$54.00M	USD	1 Quarter
Stock-based compensation charges	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$114.80M	USD	1 Quarter
Stock-based compensation charges	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$85.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$478.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$461.10M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-9.70M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$15.10M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$6.57B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$6.14B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$8.76B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$9.44B	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.