Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Regeneron Pharmaceuticals Inc., consolidated cash flow statement

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	3,953,600)	4,338,400)	8,075,300)	3,513,200)	2,115,800)
Depreciation and amortization	421,000)	341,400)	286,200)	235,900)	210,300)
Stock-based compensation expense	885,000)	725,000)	601,700)	432,000)	464,300)
(Gains) losses on marketable and other securities, net	266,400)	36,800)	(387,000)	(221,800)	(131,500)
Other non-cash items, net	(100)	368,000)	568,700)	86,800)	102,200)
Deferred income taxes	(837,800)	(746,400)	(147,100)	75,600)	(130,600)
Acquired in-process research and development in connection with asset acquisition	—)	195,000)	—)	—)	—)
(Increase) decrease in accounts receivable	(338,800)	707,800)	(1,927,400)	(1,356,100)	(473,100)
(Increase) decrease in inventories	(271,700)	(696,500)	(494,300)	(529,400)	(335,500)
(Increase) decrease in prepaid expenses and other assets	(120,100)	(148,600)	(240,700)	114,900)	(130,400)
Increase (decrease) in deferred revenue	37,900)	32,400)	(120,200)	148,100)	294,000)
Increase (decrease) in accounts payable, accrued expenses, and other liabilities	598,600)	(138,400)	866,100)	118,900)	444,500)
Changes in assets and liabilities	(94,100)	(243,300)	(1,916,500)	(1,503,600)	(200,500)
Adjustments to reconcile net income to net cash provided by operating activities	640,400)	676,500)	(994,000)	(895,100)	314,200)
Net cash provided by operating activities	4,594,000)	5,014,900)	7,081,300)	2,618,100)	2,430,000)
Purchases of marketable and other securities	(11,646,000)	(7,487,900)	(7,048,100)	(3,241,000)	(3,202,400)
Sales or maturities of marketable and other securities	9,442,200)	5,550,500)	2,215,300)	3,785,000)	1,604,200)
Capital expenditures	(718,600)	(590,100)	(551,900)	(614,600)	(429,600)
Payments for Libtayo intangible asset	(207,800)	(1,026,800)	—)	—)	—)
Acquisitions, net of cash acquired	(54,900)	(230,300)	—)	—)	—)
Net cash used in investing activities	(3,185,100)	(3,784,600)	(5,384,700)	(70,600)	(2,027,800)
Proceeds from issuance of Common Stock	1,145,500)	1,519,500)	1,672,300)	2,575,200)	211,800)
Payments in connection with Common Stock tendered for employee tax obligations	(700,600)	(445,700)	(1,032,700)	(680,800)	(188,000)
Repurchases of Common Stock	(2,235,000)	(2,082,800)	(1,645,400)	(5,846,800)	(275,900)
Proceeds from issuance of long-term debt	—)	—)	—)	1,981,900)	—)
Proceeds from bridge loan facility	—)	—)	—)	1,500,000)	—)
Repayment of bridge loan facility	—)	—)	—)	(1,500,000)	—)
Net cash used in financing activities	(1,790,100)	(1,009,000)	(1,005,800)	(1,970,500)	(252,100)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(400)	—)	—)	—)	—)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(381,600)	221,300)	690,800)	577,000)	150,100)
Cash, cash equivalents, and restricted cash at beginning of period	3,119,400)	2,898,100)	2,207,300)	1,630,300)	1,480,200)
Cash, cash equivalents, and restricted cash at end of period	2,737,800)	3,119,400)	2,898,100)	2,207,300)	1,630,300)

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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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Regeneron Pharmaceuticals Inc. net cash provided by operating activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Regeneron Pharmaceuticals Inc. net cash used in investing activities increased from 2021 to 2022 and from 2022 to 2023.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Regeneron Pharmaceuticals Inc. net cash used in financing activities decreased from 2021 to 2022 and from 2022 to 2023.

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN)

Cash Flow Statement