10-Q Filing

REGENERON PHARMACEUTICALS, INC. CIK: 872589 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001804220-21-000017`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	regn-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 40 Cash Flow Statement 50 Stockholders Equity 22

Balance Sheet 69 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.44B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.19B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.21B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.39B	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
Marketable securities	`MarketableSecuritiesCurrent`	$2.07B	USD	Point-in-time
Preferred Stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.11B	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.17B	USD	Point-in-time
Inventories	`InventoryNet`	$2.16B	USD	Point-in-time
Preferred Stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$1.92B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$213.60M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$160.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.06B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.78B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$3.14B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$3.54B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$3.26B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$3.22B	USD	Point-in-time
Treasury Stock (in shares)	`TreasuryStockShares`	16.43M	shares	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$765.10M	USD	Point-in-time
Treasury Stock (in shares)	`TreasuryStockShares`	17.10M	shares	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$858.90M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$168.10M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$145.70M	USD	Point-in-time
Total assets	`Assets`	$17.16B	USD	Point-in-time
Total assets	`Assets`	$17.77B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$542.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$475.50M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.64B	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$1.49B	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	-	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$717.80M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$577.70M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$464.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.70B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.22B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.98B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.98B	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	$717.20M	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$57.80M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$27.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$571.50M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$687.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.14B	USD	Point-in-time
Total liabilities	`Liabilities`	$5.80B	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`	$6.89B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.72B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.01B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$10.89B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$16.20M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$29.30M	USD	Point-in-time
Treasury Stock, at cost; 17,104,177 shares in 2021 and 16,431,520 shares in 2020	`TreasuryStockValue`	$6.61B	USD	Point-in-time
Treasury Stock, at cost; 17,104,177 shares in 2021 and 16,431,520 shares in 2020	`TreasuryStockValue`	$6.94B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.03B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.09B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.98B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.13B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$17.77B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$17.16B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.83B	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.53B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$583.90M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$742.90M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$405.60M	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`	$40.50M	USD	1 Quarter
Costs and expenses, total	`CostsAndExpenses`	$1.42B	USD	1 Quarter
Costs and expenses, total	`CostsAndExpenses`	$1.13B	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.11B	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$700.10M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-25.40M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$154.90M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$14.60M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$140.30M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-31.50M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$668.60M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.25B	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$137.80M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$44.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$624.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.12B	USD	1 Quarter
Net income per share - basic (in dollars per share)	`EarningsPerShareBasic`	$10.58	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`	$10.09	USD	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	105.40M	shares	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	109.80M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	115.10M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	110.50M	shares	1 Quarter
Net income	`NetIncomeLoss`	$624.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.12B	USD	1 Quarter
Unrealized loss on debt securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-28.80M	USD	1 Quarter
Unrealized loss on debt securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-13.30M	USD	1 Quarter
Unrealized gain (loss) on cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-1.40M	USD	1 Quarter
Unrealized gain (loss) on cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$200.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.10B	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$594.40M	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$624.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.12B	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$67.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$56.10M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$130.90M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$105.80M	USD	1 Quarter
Other non-cash items, net	`OtherNoncashIncomeExpense`	$115.70M	USD	1 Quarter
Other non-cash items, net	`OtherNoncashIncomeExpense`	$-82.60M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-10.10M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-9.90M	USD	1 Quarter
Increase in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$58.30M	USD	1 Quarter
Increase in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$169.00M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$252.80M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$70.80M	USD	1 Quarter
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$50.00M	USD	1 Quarter
(Increase) decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-70.10M	USD	1 Quarter
(Decrease) increase in deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-143.60M	USD	1 Quarter
(Decrease) increase in deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$73.90M	USD	1 Quarter
Decrease in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-34.70M	USD	1 Quarter
Decrease in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-85.20M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$73.40M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-446.70M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$668.50M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$698.00M	USD	1 Quarter
Purchases of marketable and other securities	`PaymentsToAcquireMarketableSecurities`	$1.36B	USD	1 Quarter
Purchases of marketable and other securities	`PaymentsToAcquireMarketableSecurities`	$714.30M	USD	1 Quarter
Sales or maturities of marketable and other securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$441.20M	USD	1 Quarter
Sales or maturities of marketable and other securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$416.30M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$170.10M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$115.30M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-443.20M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.06B	USD	1 Quarter
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$95.00M	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`	$154.50M	USD	1 Quarter
Payments in connection with Common Stock tendered for employee tax obligations	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$155.10M	USD	1 Quarter
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$320.70M	USD	1 Quarter
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$306.90M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-366.40M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$335.60M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-756.90M	USD	1 Quarter
Net (decrease) 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`	$1.45B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.21B	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`	$1.45B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.21B	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$11.03B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$11.09B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$11.98B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$12.13B	USD	Point-in-time
Issuance of Common Stock for equity awards granted under long-term incentive plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$93.90M	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`	$66.40M	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`	$10.00M	USD	1 Quarter
Repurchases of Common Stock	`StockRepurchasedDuringPeriodValue`	$323.50M	USD	1 Quarter
Repurchases of Common Stock	`StockRepurchasedDuringPeriodValue`	$336.00M	USD	1 Quarter
Stock-based compensation charges	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$135.60M	USD	1 Quarter
Stock-based compensation charges	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$108.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$624.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.12B	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-13.10M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-30.20M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$11.03B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$11.09B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$11.98B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$12.13B	USD	Point-in-time

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