$REGN
REGENERON PHARMACEUTICALS, INC.

2018 Q3 Form 10-Q Financial Statement

#000153217618000036 Filed on November 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $1.664B $1.501B
YoY Change 10.85% 22.99%
Cost Of Revenue $110.4M $46.39M
YoY Change 137.99% 55.14%
Gross Profit $1.553B $1.454B
YoY Change 6.79% 22.19%
Gross Profit Margin 93.36% 96.91%
Selling, General & Admin $369.2M $306.8M
YoY Change 20.35% 13.6%
% of Gross Profit 23.77% 21.09%
Research & Development $557.0M $529.7M
YoY Change 5.14% -2.45%
% of Gross Profit 35.86% 36.43%
Depreciation & Amortization $35.40M $37.80M
YoY Change -6.35% 35.97%
% of Gross Profit 2.28% 2.6%
Operating Expenses $926.2M $836.5M
YoY Change 10.72% 2.88%
Operating Profit $626.9M $559.9M
YoY Change 11.96% 54.33%
Interest Expense $7.400M $6.182M
YoY Change 19.7% -1346.37%
% of Operating Profit 1.18% 1.1%
Other Income/Expense, Net $9.000M $5.679M
YoY Change 58.48% 84.44%
Pretax Income $635.9M $565.6M
YoY Change 12.43% 54.59%
Income Tax $41.20M $177.3M
% Of Pretax Income 6.48% 31.34%
Net Earnings $594.7M $388.3M
YoY Change 53.15% 46.64%
Net Earnings / Revenue 35.75% 25.88%
Basic Earnings Per Share $5.50 $3.64
Diluted Earnings Per Share $5.17 $3.32
COMMON SHARES
Basic Shares Outstanding 108.0M shares 106.7M shares
Diluted Shares Outstanding 115.1M shares 117.0M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.192B $1.379B
YoY Change 58.96% -2.06%
Cash & Equivalents $1.088B $792.1M
Short-Term Investments $1.104B $587.0M
Other Short-Term Assets $644.0M $357.0M
YoY Change 80.39% 99.44%
Inventory $1.040B $641.6M
Prepaid Expenses
Receivables $1.666B $1.533B
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.720B $4.136B
YoY Change 38.3% 18.11%
LONG-TERM ASSETS
Property, Plant & Equipment $2.524B $2.275B
YoY Change 10.99% 21.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.874B $1.327B
YoY Change 41.22% 70.57%
Other Assets $125.2M $36.62M
YoY Change 241.9% 76.86%
Total Long-Term Assets $5.086B $4.565B
YoY Change 11.4% 37.25%
TOTAL ASSETS
Total Short-Term Assets $5.720B $4.136B
Total Long-Term Assets $5.086B $4.565B
Total Assets $10.81B $8.701B
YoY Change 24.19% 27.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $172.0M $154.0M
YoY Change 11.69% 24.19%
Accrued Expenses $782.0M $538.0M
YoY Change 45.35% 23.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $1.417B $1.139B
YoY Change 24.47% 18.46%
LONG-TERM LIABILITIES
Long-Term Debt $707.0M $702.0M
YoY Change 0.71% 83.77%
Other Long-Term Liabilities $194.0M $125.2M
YoY Change 54.95% -7.72%
Total Long-Term Liabilities $194.0M $125.2M
YoY Change 54.95% -7.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.417B $1.139B
Total Long-Term Liabilities $194.0M $125.2M
Total Liabilities $2.937B $2.650B
YoY Change 10.86% 13.39%
SHAREHOLDERS EQUITY
Retained Earnings $4.434B $2.773B
YoY Change 59.88% 85.49%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $396.4M $316.2M
YoY Change 25.34% 0.06%
Treasury Stock Shares 3.990M shares 3.764M shares
Shareholders Equity $7.868B $6.052B
YoY Change
Total Liabilities & Shareholders Equity $10.81B $8.701B
YoY Change 24.19% 27.43%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $594.7M $388.3M
YoY Change 53.15% 46.64%
Depreciation, Depletion And Amortization $35.40M $37.80M
YoY Change -6.35% 35.97%
Cash From Operating Activities $453.0M $414.9M
YoY Change 9.18% -36.27%
INVESTING ACTIVITIES
Capital Expenditures -$106.2M -$59.70M
YoY Change 77.89% -49.66%
Acquisitions
YoY Change
Other Investing Activities -$180.5M -$299.3M
YoY Change -39.69% 4.18%
Cash From Investing Activities -$286.7M -$358.8M
YoY Change -20.09% -11.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.700M -8.200M
YoY Change -145.12% -128.57%
NET CHANGE
Cash From Operating Activities 453.0M 414.9M
Cash From Investing Activities -286.7M -358.8M
Cash From Financing Activities 3.700M -8.200M
Net Change In Cash 170.0M 47.90M
YoY Change 254.91% -82.51%
FREE CASH FLOW
Cash From Operating Activities $453.0M $414.9M
Capital Expenditures -$106.2M -$59.70M
Free Cash Flow $559.2M $474.6M
YoY Change 17.83% -38.33%

Facts In Submission

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CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Recently Issued Accounting Standards </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued ASU 2016-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases</font><font style="font-family:inherit;font-size:10pt;">. The new standard requires a lessee to recognize on its balance sheet (for both finance and operating leases) a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted. We plan to adopt this new standard on January 1, 2019 (the "effective date") and use the effective date as our date of initial application. As such, we will not adjust prior period amounts. Furthermore, we expect to elect the practical expedients upon transition, which permit companies to not reassess lease identification, classification, and initial direct costs under the new standard for leases that commenced prior to the effective date. We are currently evaluating the impact that this guidance will have on our financial statements, including related disclosures. The new standard will result in the Company recording additional assets and corresponding liabilities related to operating leases; however, we do not expect the standard to have a material impact to our Consolidated Balance Sheets. The ultimate impact that the new standard will have will depend on the total amount of the Company's lease commitments as of the adoption date. We are in process of implementing a new lease accounting software system and updating our internal controls and processes.</font></div></div>

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