10-Q Filing

REGENERON PHARMACEUTICALS, INC. CIK: 872589 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001804220-22-000015`
Period End Date	20220331
Filing Date	20220504
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	regn-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 42 Cash Flow Statement 52 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`	$2.89B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.35B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.44B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$2.81B	USD	Point-in-time
Preferred Stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$3.70B	USD	Point-in-time
Preferred Stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	30.00M	shares	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`	$6.04B	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.84B	USD	Point-in-time
Preferred Stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$1.95B	USD	Point-in-time
Preferred Stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$1.99B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$332.40M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$424.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.31B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.01B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$6.84B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$7.08B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$3.56B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$3.48B	USD	Point-in-time
Treasury Stock (in shares)	`TreasuryStockShares`	19.39M	shares	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$876.90M	USD	Point-in-time
Treasury Stock (in shares)	`TreasuryStockShares`	19.94M	shares	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$1.14B	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$222.80M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$262.00M	USD	Point-in-time
Total assets	`Assets`	$26.35B	USD	Point-in-time
Total assets	`Assets`	$25.43B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$470.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$564.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$2.21B	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$2.05B	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	-	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$719.70M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$491.30M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$442.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.93B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.01B	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`	$720.00M	USD	Point-in-time
Finance lease liabilities	`FinanceLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$73.30M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$33.50M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$692.50M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$680.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.43B	USD	Point-in-time
Total liabilities	`Liabilities`	$6.67B	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`	$8.75B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.09B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$19.94B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$18.97B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-170.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-26.20M	USD	Point-in-time
Treasury Stock, at cost; 19,940,149 shares in 2022 and 19,392,961 shares in 2021	`TreasuryStockValue`	$8.61B	USD	Point-in-time
Treasury Stock, at cost; 19,940,149 shares in 2022 and 19,392,961 shares in 2021	`TreasuryStockValue`	$8.26B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$18.77B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.98B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$19.91B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.03B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$26.35B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$25.43B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.97B	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.53B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$843.80M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$742.90M	USD	1 Quarter
Acquired in-process research and development	`AcquiredInProcessResearchAndDevelopment`	-	USD	1 Quarter
Acquired in-process research and development	`AcquiredInProcessResearchAndDevelopment`	$28.10M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$450.00M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$405.60M	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$20.20M	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`	$1.71B	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.26B	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.11B	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-183.80M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$154.90M	USD	1 Quarter
Interest expense	`InterestExpense`	$13.60M	USD	1 Quarter
Interest expense	`InterestExpense`	$14.60M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-197.40M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$140.30M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.25B	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.06B	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$137.80M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$87.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$973.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.12B	USD	1 Quarter
Net income per share - basic (in dollars per share)	`EarningsPerShareBasic`	$9.12	USD	1 Quarter
Net income per share - basic (in dollars per share)	`EarningsPerShareBasic`	$10.58	USD	1 Quarter
Net income per share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$8.61	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`	106.80M	shares	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	105.40M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	113.10M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	110.50M	shares	1 Quarter
Net income	`NetIncomeLoss`	$973.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.12B	USD	1 Quarter
Unrealized loss on debt securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-13.30M	USD	1 Quarter
Unrealized loss on debt securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-144.90M	USD	1 Quarter
Unrealized gain on cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$1.00M	USD	1 Quarter
Unrealized gain on cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$200.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.10B	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$829.60M	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$973.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.12B	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$74.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$67.40M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$130.90M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$166.90M	USD	1 Quarter
Losses (gains) on marketable and other securities, net	`MarketableSecuritiesGainLoss`	$144.40M	USD	1 Quarter
Losses (gains) on marketable and other securities, net	`MarketableSecuritiesGainLoss`	$-204.50M	USD	1 Quarter
Other non-cash items, net	`OtherNoncashIncomeExpense`	$-84.30M	USD	1 Quarter
Other non-cash items, net	`OtherNoncashIncomeExpense`	$-28.70M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-10.10M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$225.00M	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.20B	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$58.30M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$88.60M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$252.80M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$44.80M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$50.00M	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-143.60M	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$9.50M	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`	$-250.40M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-446.70M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.13B	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$668.50M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.10B	USD	1 Quarter
Purchases of marketable and other securities	`PaymentsToAcquireMarketableSecurities`	$2.31B	USD	1 Quarter
Purchases of marketable and other securities	`PaymentsToAcquireMarketableSecurities`	$1.36B	USD	1 Quarter
Sales or maturities of marketable and other securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$746.30M	USD	1 Quarter
Sales or maturities of marketable and other securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$416.30M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$141.80M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$115.30M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.71B	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`	$521.60M	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`	$98.80M	USD	1 Quarter
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$358.10M	USD	1 Quarter
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$306.90M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$64.70M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-366.40M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$461.10M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-756.90M	USD	1 Quarter
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 beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.90B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.36B	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
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.90B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.36B	USD	Point-in-time

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$18.77B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$11.98B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$19.91B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$11.03B	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`	$593.70M	USD	1 Quarter
Common Stock tendered upon exercise of stock options and vesting of restricted stock for employee tax obligations	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$105.80M	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
Issuance/distribution of Common Stock for 401(k) Savings Plan	`StockIssuedDistributedDuringPeriodValueEmployeeBenefitPlan`	$14.50M	USD	1 Quarter
Issuance/distribution of Common Stock for 401(k) Savings Plan	`StockIssuedDistributedDuringPeriodValueEmployeeBenefitPlan`	$10.00M	USD	1 Quarter
Repurchases of Common Stock	`StockRepurchasedDuringPeriodValue`	$352.00M	USD	1 Quarter
Repurchases of Common Stock	`StockRepurchasedDuringPeriodValue`	$323.50M	USD	1 Quarter
Stock-based compensation charges	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$165.90M	USD	1 Quarter
Stock-based compensation charges	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$135.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$973.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.12B	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-143.90M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-13.10M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$18.77B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$11.98B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$19.91B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$11.03B	USD	Point-in-time

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