Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Revenues
Adjustments to Reported Income

Regeneron Pharmaceuticals Inc., adjusted total assets

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total assets	33,080,200)	29,214,500)	25,434,800)	17,163,300)	14,805,200)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred tax assets²	2,575,400)	1,723,700)	876,900)	858,900)	824,200)
After Adjustment
Adjusted total assets	30,504,800)	27,490,800)	24,557,900)	16,304,400)	13,981,000)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred tax assets. See details »

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Regeneron Pharmaceuticals Inc., adjusted current liabilities

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current liabilities	3,423,400)	3,141,300)	3,932,500)	2,697,400)	2,096,600)
Adjustments
Less: Deferred revenue, current portion	458,900)	477,900)	442,000)	577,700)	591,700)
After Adjustment
Adjusted current liabilities	2,964,500)	2,663,400)	3,490,500)	2,119,700)	1,504,900)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Regeneron Pharmaceuticals Inc., adjusted total liabilities

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total liabilities	7,107,100)	6,550,500)	6,666,000)	6,138,000)	3,715,500)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred tax liabilities²	—)	—)	—)	140,200)	32,800)
Less: Deferred revenue	585,600)	547,700)	515,300)	635,500)	1,210,700)
After Adjustment
Adjusted total liabilities	6,521,500)	6,002,800)	6,150,700)	5,362,300)	2,472,000)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

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Regeneron Pharmaceuticals Inc., adjusted stockholders’ equity

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Stockholders’ equity	25,973,100)	22,664,000)	18,768,800)	11,025,300)	11,089,700)
Adjustments
Less: Net deferred tax assets (liabilities)¹	2,575,400)	1,723,700)	876,900)	718,700)	791,400)
Add: Deferred revenue	585,600)	547,700)	515,300)	635,500)	1,210,700)
After Adjustment
Adjusted stockholders’ equity	23,983,300)	21,488,000)	18,407,200)	10,942,100)	11,509,000)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Net deferred tax assets (liabilities). See details »

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Regeneron Pharmaceuticals Inc., adjusted capitalization table

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Finance lease liabilities, current portion	—)	—)	719,700)	—)	—)
Long-term debt	1,982,900)	1,981,400)	1,980,000)	1,978,500)	—)
Finance lease liabilities, excluding current portion	720,000)	720,000)	—)	717,200)	713,900)
Total reported debt	2,702,900)	2,701,400)	2,699,700)	2,695,700)	713,900)
Stockholders’ equity	25,973,100)	22,664,000)	18,768,800)	11,025,300)	11,089,700)
Total reported capital	28,676,000)	25,365,400)	21,468,500)	13,721,000)	11,803,600)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Operating lease liabilities, current (included in Accrued expenses and other current liabilities)²	19,000)	12,400)	12,400)	12,400)	12,400)
Add: Operating lease liabilities, noncurrent (included in Other noncurrent liabilities)³	68,700)	55,800)	55,800)	55,800)	55,800)
Adjusted total debt	2,790,600)	2,769,600)	2,767,900)	2,763,900)	782,100)
Adjustments to Equity
Less: Net deferred tax assets (liabilities)⁴	2,575,400)	1,723,700)	876,900)	718,700)	791,400)
Add: Deferred revenue	585,600)	547,700)	515,300)	635,500)	1,210,700)
Adjusted stockholders’ equity	23,983,300)	21,488,000)	18,407,200)	10,942,100)	11,509,000)
After Adjustment
Adjusted total capital	26,773,900)	24,257,600)	21,175,100)	13,706,000)	12,291,100)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Operating lease liabilities, current (included in Accrued expenses and other current liabilities). See details »

³ Operating lease liabilities, noncurrent (included in Other noncurrent liabilities). See details »

⁴ Net deferred tax assets (liabilities). See details »

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Regeneron Pharmaceuticals Inc., adjusted revenues

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Revenues	13,117,200)	12,172,900)	16,071,700)	8,497,100)	7,863,400)
Adjustment
Add: Increase (decrease) in deferred revenue	37,900)	32,400)	(120,200)	148,100)	294,000)
After Adjustment
Adjusted revenues	13,155,100)	12,205,300)	15,951,500)	8,645,200)	8,157,400)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Regeneron Pharmaceuticals Inc., adjusted net income

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net income	3,953,600)	4,338,400)	8,075,300)	3,513,200)	2,115,800)
Adjustments
Add: Deferred income tax expense (benefit)¹	(837,800)	(746,400)	(147,100)	75,600)	(130,600)
Add: Increase (decrease) in deferred revenue	37,900)	32,400)	(120,200)	148,100)	294,000)
Add: Other comprehensive income (loss), net of tax	157,900)	(212,600)	(55,500)	8,200)	33,400)
After Adjustment
Adjusted net income	3,311,600)	3,411,800)	7,752,500)	3,745,100)	2,312,600)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Deferred income tax expense (benefit). See details »

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Regeneron Pharmaceuticals Inc. (NASDAQ:REGN)

Adjustments to Financial Statements

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Revenues

Adjustments to Reported Income