10-Q Filing

REGENERON PHARMACEUTICALS, INC. CIK: 872589 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001804220-23-000016`
Period End Date	20230331
Filing Date	20230504
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	regn-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 42 Cash Flow Statement 54 Stockholders Equity 26

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.92B	USD	Point-in-time
Preferred Stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.35B	USD	Point-in-time
Preferred Stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.11B	USD	Point-in-time
Preferred Stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$5.04B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$4.64B	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.33B	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.12B	USD	Point-in-time
Preferred Stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$2.42B	USD	Point-in-time
Inventories	`InventoryNet`	$2.40B	USD	Point-in-time
Preferred Stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$411.20M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$406.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.91B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.88B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$6.59B	USD	Point-in-time
Marketable securities	`MarketableSecuritiesNoncurrent`	$6.07B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$3.88B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$3.76B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$928.70M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	23.50M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	22.60M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$915.50M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$1.92B	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$1.72B	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$349.60M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$336.40M	USD	Point-in-time
Total assets	`Assets`	$30.06B	USD	Point-in-time
Total assets	`Assets`	$29.21B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$589.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$599.50M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$2.07B	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$2.07B	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$426.30M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$477.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.14B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.10B	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`	$720.00M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$85.50M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$69.80M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$677.30M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$638.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.56B	USD	Point-in-time
Total liabilities	`Liabilities`	$6.55B	USD	Point-in-time
Preferred Stock, par value $.01 per share; 30.0 shares authorized; issued and outstanding - none	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, par value $.01 per share; 30.0 shares authorized; issued and outstanding - none	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.60B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.95B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$24.12B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$23.31B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-238.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-181.60M	USD	Point-in-time
Treasury Stock, at cost; 23.5 shares in 2023 and 22.6 shares in 2022	`TreasuryStockCommonValue`	$10.35B	USD	Point-in-time
Treasury Stock, at cost; 23.5 shares in 2023 and 22.6 shares in 2022	`TreasuryStockCommonValue`	$11.05B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$23.50B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$18.77B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$19.91B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.66B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$30.06B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$29.21B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.16B	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.97B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.10B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$843.80M	USD	1 Quarter
Acquired in-process research and development	`AcquiredInProcessResearchAndDevelopment`	$28.10M	USD	1 Quarter
Acquired in-process research and development	`AcquiredInProcessResearchAndDevelopment`	$56.10M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$450.00M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$601.10M	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$500.00K	USD	1 Quarter
Other operating (income) expense, net	`OtherOperatingIncomeExpenseNet`	$20.20M	USD	1 Quarter
Total Expenses	`CostsAndExpenses`	$2.22B	USD	1 Quarter
Total Expenses	`CostsAndExpenses`	$1.71B	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$946.70M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.26B	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-183.80M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-70.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$18.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$13.60M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-88.70M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-197.40M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$858.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.06B	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$87.60M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$40.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$973.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$817.80M	USD	1 Quarter
Net income per share - basic (in dollars per share)	`EarningsPerShareBasic`	$7.64	USD	1 Quarter
Net income per share - basic (in dollars per share)	`EarningsPerShareBasic`	$9.12	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`	$7.17	USD	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	107.10M	shares	1 Quarter
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	106.80M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	113.10M	shares	1 Quarter
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	114.00M	shares	1 Quarter
Net income	`NetIncomeLoss`	$973.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$817.80M	USD	1 Quarter
Unrealized gain (loss) on debt securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-144.90M	USD	1 Quarter
Unrealized gain (loss) on debt securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$57.20M	USD	1 Quarter
Unrealized gain on cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	-	USD	1 Quarter
Unrealized gain on cash flow hedges	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$1.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$829.60M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$875.00M	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$973.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$817.80M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$74.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$99.50M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$166.90M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$238.70M	USD	1 Quarter
Losses on marketable and other securities, net	`MarketableAndOtherSecuritiesGainLoss`	$-204.50M	USD	1 Quarter
Losses on marketable and other securities, net	`MarketableAndOtherSecuritiesGainLoss`	$-166.60M	USD	1 Quarter
Other non-cash items, net	`OtherNoncashIncomeExpense`	$-84.30M	USD	1 Quarter
Other non-cash items, net	`OtherNoncashIncomeExpense`	$-20.60M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$216.50M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$225.00M	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-210.10M	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.20B	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$88.60M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$46.80M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$44.80M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.50M	USD	1 Quarter
(Decrease) increase in deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-35.90M	USD	1 Quarter
(Decrease) increase in deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$9.50M	USD	1 Quarter
Increase (decrease) in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$119.00M	USD	1 Quarter
Increase (decrease) in accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-250.40M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$549.80M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.13B	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.37B	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`	$1.75B	USD	1 Quarter
Sales or maturities of marketable and other securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$1.79B	USD	1 Quarter
Sales or maturities of marketable and other securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$746.30M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$178.20M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$141.80M	USD	1 Quarter
Payments for Libtayo intangible asset	`PaymentsToAcquireIntangibleAssets1`	-	USD	1 Quarter
Payments for Libtayo intangible asset	`PaymentsToAcquireIntangibleAssets1`	$100.90M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-235.70M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.71B	USD	1 Quarter
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$521.60M	USD	1 Quarter
Proceeds from issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$485.20M	USD	1 Quarter
Payments in connection with Common Stock tendered for employee tax obligations	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$98.80M	USD	1 Quarter
Payments in connection with Common Stock tendered for employee tax obligations	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$97.00M	USD	1 Quarter
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$358.10M	USD	1 Quarter
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$710.70M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-322.50M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$64.70M	USD	1 Quarter
Net increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$461.10M	USD	1 Quarter
Net increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$809.40M	USD	1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.36B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.12B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.93B	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 end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.36B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.12B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.93B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.90B	USD	Point-in-time

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, treasury (in shares)	`TreasuryStockCommonShares`	23.50M	shares	Point-in-time
Beginning Balance, treasury (in shares)	`TreasuryStockCommonShares`	22.60M	shares	Point-in-time
Beginning Balance	`StockholdersEquity`	$23.50B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$18.77B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$19.91B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$22.66B	USD	Point-in-time
Issuance of Common Stock for equity awards granted under long-term incentive plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$491.30M	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`	$99.20M	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`	$20.60M	USD	1 Quarter
Repurchases of Common Stock	`StockRepurchasedDuringPeriodValue`	$693.90M	USD	1 Quarter
Repurchases of Common Stock	`StockRepurchasedDuringPeriodValue`	$352.00M	USD	1 Quarter
Stock-based compensation charges	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$237.40M	USD	1 Quarter
Stock-based compensation charges	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$165.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$973.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$817.80M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-143.90M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$57.20M	USD	1 Quarter
Ending Balance, treasury (in shares)	`TreasuryStockCommonShares`	23.50M	shares	Point-in-time
Ending Balance, treasury (in shares)	`TreasuryStockCommonShares`	22.60M	shares	Point-in-time
Ending Balance	`StockholdersEquity`	$23.50B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$18.77B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$19.91B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$22.66B	USD	Point-in-time

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