10-Q Filing

REGENERON PHARMACEUTICALS, INC. CIK: 872589 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001804220-20-000011`
Period End Date	20200331
Filing Date	20200505
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	regn-033120x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 40 Cash Flow Statement 50 Stockholders Equity 22

Balance Sheet 67 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`	$2.21B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.71B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.62B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.80B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.60B	USD	Point-in-time
Accounts receivable - trade, net	`AccountsReceivableNetCurrent`	$2.06B	USD	Point-in-time
Accounts receivable - trade, net	`AccountsReceivableNetCurrent`	$2.10B	USD	Point-in-time
Accounts receivable - Sanofi	`AccountsReceivableRelatedPartiesCurrent`	$260.60M	USD	Point-in-time
Accounts receivable - Sanofi	`AccountsReceivableRelatedPartiesCurrent`	$468.30M	USD	Point-in-time
Treasury stock, outstanding (in shares)	`TreasuryStockShares`	4.86M	shares	Point-in-time
Accounts receivable - other	`AccountsAndNotesReceivableNet`	$401.80M	USD	Point-in-time
Accounts receivable - other	`AccountsAndNotesReceivableNet`	$425.00M	USD	Point-in-time
Treasury stock, outstanding (in shares)	`TreasuryStockShares`	5.68M	shares	Point-in-time
Inventories	`InventoryNet`	$1.42B	USD	Point-in-time
Inventories	`InventoryNet`	$1.48B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$273.70M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$226.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.64B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.69B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$3.26B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$3.24B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$2.94B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$2.89B	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$824.20M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$771.20M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$161.20M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$144.70M	USD	Point-in-time
Total assets	`Assets`	$15.76B	USD	Point-in-time
Total assets	`Assets`	$14.81B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$418.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$347.80M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.14B	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.21B	USD	Point-in-time
Other liabilities - Sanofi	`OtherLiabilitiesCurrent`	$85.00M	USD	Point-in-time
Other liabilities - Sanofi	`OtherLiabilitiesCurrent`	$85.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.06B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.10B	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$715.20M	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$713.90M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$317.70M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$321.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.62B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.72B	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`	$4.43B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.21B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.38B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.00B	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.10M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$21.10M	USD	Point-in-time
Treasury Stock, at cost; 5,683,562 shares in 2020 and 4,860,123 shares in 2019	`TreasuryStockValue`	$1.07B	USD	Point-in-time
Treasury Stock, at cost; 5,683,562 shares in 2020 and 4,860,123 shares in 2019	`TreasuryStockValue`	$739.90M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.44B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.09B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.13B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.76B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$14.81B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$15.76B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.37B	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.83B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$583.90M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$486.10M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$291.10M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$367.30M	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$40.40M	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$56.70M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$1.13B	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$892.60M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$700.10M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$480.00M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-25.40M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$73.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$7.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.10M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-31.50M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$66.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$546.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$668.60M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$85.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$44.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$461.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$624.60M	USD	1 Quarter
Net income per share - basic (in dollars per share)	`EarningsPerShareBasic`	$4.23	USD	1 Quarter
Net income per share - basic (in dollars per share)	`EarningsPerShareBasic`	$5.69	USD	1 Quarter
Net income per share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$5.43	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`	108.90M	shares	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	109.80M	shares	1 Quarter
Weighted average shares - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	115.10M	shares	1 Quarter
Weighted average shares - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	115.50M	shares	1 Quarter
Net income	`NetIncomeLoss`	$461.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$624.60M	USD	1 Quarter
Unrealized (loss) gain on debt securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$16.10M	USD	1 Quarter
Unrealized (loss) gain on debt securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-28.80M	USD	1 Quarter
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-1.00M	USD	1 Quarter
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-1.40M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$594.40M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$476.20M	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$461.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$624.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$51.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$56.10M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$105.80M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$107.90M	USD	1 Quarter
Other non-cash items, net	`OtherNoncashIncomeExpense`	$23.80M	USD	1 Quarter
Other non-cash items, net	`OtherNoncashIncomeExpense`	$-82.60M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$10.70M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-9.90M	USD	1 Quarter
Increase in Sanofi, trade, and other accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$91.10M	USD	1 Quarter
Increase in Sanofi, trade, and other accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$169.00M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$58.60M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$70.80M	USD	1 Quarter
Decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-70.10M	USD	1 Quarter
Decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-54.30M	USD	1 Quarter
Increase in deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$73.90M	USD	1 Quarter
Increase in deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$81.10M	USD	1 Quarter
(Decrease) increase in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-85.20M	USD	1 Quarter
(Decrease) increase in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$325.80M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$73.40M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$435.90M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$698.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$897.00M	USD	1 Quarter
Purchases of marketable and other securities	`PaymentsToAcquireMarketableSecurities`	$714.30M	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`	$441.20M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$170.10M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$74.30M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-443.20M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-776.10M	USD	1 Quarter
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$140.60M	USD	1 Quarter
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$811.40M	USD	1 Quarter
Payments in connection with Common Stock tendered for employee tax obligations	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$155.10M	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`	$320.70M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$335.60M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$119.90M	USD	1 Quarter
Net increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$240.80M	USD	1 Quarter
Net increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$590.40M	USD	1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.22B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.63B	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`	$1.48B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.22B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.63B	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`	$1.48B	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$9.44B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$11.09B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$12.13B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$8.76B	USD	Point-in-time
Issuance of Common Stock for equity awards granted under long-term incentive plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$140.90M	USD	1 Quarter
Issuance of Common Stock for equity awards granted under long-term incentive plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$817.40M	USD	1 Quarter
Common Stock tendered upon exercise of stock options and vesting of restricted stock for employee tax obligations	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$10.70M	USD	1 Quarter
Common Stock tendered upon exercise of stock options and vesting of restricted stock for employee tax obligations	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$155.10M	USD	1 Quarter
Issuance/distribution of Common Stock for 401(k) Savings Plan	`StockIssuedDistributedDuringPeriodValueEmployeeBenefitPlan`	$14.60M	USD	1 Quarter
Issuance/distribution of Common Stock for 401(k) Savings Plan	`StockIssuedDistributedDuringPeriodValueEmployeeBenefitPlan`	$10.50M	USD	1 Quarter
Repurchases of Common Stock	`TreasuryStockValueAcquiredCostMethod`	$336.00M	USD	1 Quarter
Repurchases of Common Stock	`TreasuryStockValueAcquiredCostMethod`	$54.00M	USD	1 Quarter
Stock-based compensation charges	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$108.00M	USD	1 Quarter
Stock-based compensation charges	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$114.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$461.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$624.60M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$15.10M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-30.20M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$9.44B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$11.09B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$12.13B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$8.76B	USD	Point-in-time

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