Cash Flow Statement
Quarterly Data

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 (quarterly data)

US$ in thousands

3 months ended:	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Net income	917,700)	1,340,600)	1,432,300)	722,000)	1,159,600)	1,007,800)	968,400)	817,800)	1,197,100)	1,315,700)	852,100)	973,500)	2,229,000)	1,632,200)	3,098,900)	1,115,200)	1,149,200)	842,100)	897,300)	624,600)
Depreciation and amortization	126,400)	121,700)	120,700)	114,100)	113,000)	105,400)	103,100)	99,500)	100,100)	92,600)	74,400)	74,300)	74,500)	73,200)	71,100)	67,400)	61,700)	59,300)	58,800)	56,100)
Stock-based compensation expense	304,400)	225,100)	223,200)	230,100)	240,400)	203,900)	202,000)	238,700)	232,000)	166,300)	159,800)	166,900)	188,400)	136,900)	145,500)	130,900)	121,500)	101,200)	103,500)	105,800)
(Gains) losses on marketable and other securities, net	212,900)	(134,700)	(392,600)	196,100)	(58,100)	127,000)	30,900)	166,600)	(80,600)	(253,500)	166,400)	204,500)	137,600)	29,300)	(409,500)	(144,400)	(59,500)	37,300)	(199,600)	—)
Other non-cash items, net	55,400)	(29,000)	(3,000)	100)	(17,500)	(11,800)	8,600)	20,600)	169,000)	60,700)	54,000)	84,300)	304,300)	71,800)	163,900)	28,700)	35,800)	27,200)	(58,800)	82,600)
Deferred income taxes	(280,200)	(168,600)	(118,100)	(190,400)	(286,300)	(125,700)	(209,300)	(216,500)	(279,700)	(85,700)	(156,000)	(225,000)	(205,900)	7,000)	41,700)	10,100)	(42,300)	(100)	108,100)	9,900)
Acquired in-process research and development in connection with asset acquisition	12,600)	—)	—)	—)	—)	—)	—)	—)	—)	—)	195,000)	—)	—)	—)	—)	—)	—)	—)	—)	—)
(Increase) decrease in accounts receivable	(117,800)	(388,900)	(494,100)	446,800)	(82,700)	(463,500)	(2,700)	210,100)	219,600)	(386,900)	(322,400)	1,197,500)	(584,500)	1,541,000)	(2,825,600)	(58,300)	(80,800)	(1,228,200)	121,900)	(169,000)
(Increase) decrease in inventories	(117,700)	(164,400)	(181,800)	(155,800)	(47,300)	(77,200)	(100,400)	(46,800)	(144,300)	(223,500)	(240,100)	(88,600)	(163,700)	(109,100)	31,300)	(252,800)	(127,000)	(169,000)	(162,600)	(70,800)
(Increase) decrease in prepaid expenses and other assets	(55,300)	252,000)	(526,300)	(77,900)	164,300)	(275,500)	(3,400)	(5,500)	18,700)	121,200)	(243,700)	(44,800)	76,100)	(39,000)	(227,800)	(50,000)	98,500)	(17,400)	(36,300)	70,100)
Increase (decrease) in deferred revenue	(21,200)	43,000)	89,100)	116,900)	43,000)	45,300)	(14,500)	(35,900)	(59,600)	(17,700)	100,200)	9,500)	(49,000)	(6,400)	78,800)	(143,600)	35,800)	33,400)	5,000)	73,900)
Increase (decrease) in accounts payable, accrued expenses, and other liabilities	225,600)	194,400)	204,600)	110,500)	(138,700)	578,600)	39,700)	119,000)	347,600)	(160,300)	(75,300)	(250,400)	365,700)	76,700)	458,400)	(34,700)	38,100)	59,900)	106,100)	(85,200)
Changes in assets and liabilities	(86,400)	(63,900)	(908,500)	440,500)	(61,400)	(192,300)	(81,300)	240,900)	382,000)	(667,200)	(781,300)	823,200)	(355,400)	1,463,200)	(2,484,900)	(539,400)	(35,400)	(1,321,300)	34,100)	(181,000)
Adjustments to reconcile net income to net cash provided by operating activities	345,100)	(49,400)	(1,078,300)	790,500)	(69,900)	106,500)	54,000)	549,800)	522,800)	(686,800)	(287,700)	1,128,200)	143,500)	1,781,400)	(2,472,200)	(446,700)	81,800)	(1,096,400)	46,100)	73,400)
Net cash provided by operating activities	1,262,800)	1,291,200)	354,000)	1,512,500)	1,089,700)	1,114,300)	1,022,400)	1,367,600)	1,719,900)	628,900)	564,400)	2,101,700)	2,372,500)	3,413,600)	626,700)	668,500)	1,231,000)	(254,300)	943,400)	698,000)
Purchases of marketable and other securities	(1,952,900)	(4,591,100)	(4,415,900)	(5,657,500)	(2,131,800)	(3,243,100)	(4,521,700)	(1,749,400)	(3,142,900)	(570,100)	(1,465,100)	(2,309,800)	(2,175,800)	(2,985,800)	(526,500)	(1,360,000)	(598,300)	(1,109,200)	(819,200)	(714,300)
Sales or maturities of marketable and other securities	2,582,000)	4,258,600)	4,054,500)	4,132,200)	2,382,900)	2,997,800)	2,268,700)	1,792,800)	1,537,400)	1,831,700)	1,435,100)	746,300)	318,000)	680,200)	800,800)	416,300)	454,700)	486,600)	2,402,500)	441,200)
Capital expenditures	(199,600)	(241,900)	(180,500)	(133,900)	(251,400)	(176,000)	(113,000)	(178,200)	(152,200)	(142,500)	(153,600)	(141,800)	(154,900)	(133,200)	(148,500)	(115,300)	(161,400)	(153,200)	(129,900)	(170,100)
Proceeds from sale of property, plant, and equipment	—)	—)	20,100)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Payments for Libtayo intangible asset	(67,400)	—)	(30,400)	(27,900)	(62,100)	(23,900)	(20,900)	(100,900)	(100,000)	(926,800)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Acquisitions, net of cash acquired	(11,500)	—)	(5,000)	—)	(3,800)	(51,100)	—)	—)	—)	—)	(230,300)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net cash (used in) provided by investing activities	350,600)	(574,400)	(557,200)	(1,687,100)	(66,200)	(496,300)	(2,386,900)	(235,700)	(1,857,700)	192,300)	(413,900)	(1,705,300)	(2,012,700)	(2,438,800)	125,800)	(1,059,000)	(305,000)	(775,800)	1,453,400)	(443,200)
Proceeds from issuance of Common Stock	90,900)	254,700)	437,600)	682,100)	301,000)	268,600)	90,700)	485,200)	372,600)	318,500)	306,800)	521,600)	542,700)	821,400)	213,200)	95,000)	104,100)	303,100)	1,356,600)	811,400)
Payments in connection with Common Stock tendered for employee tax obligations	(253,400)	(120,200)	(311,800)	(343,700)	(458,100)	(129,400)	(16,100)	(97,000)	(189,100)	(108,900)	(48,900)	(98,800)	(582,400)	(269,600)	(26,200)	(154,500)	(28,300)	(80,900)	(416,500)	(155,100)
Repurchases of Common Stock	(973,000)	(735,100)	(603,900)	(291,300)	(289,000)	(546,500)	(688,800)	(710,700)	(431,100)	(934,600)	(359,000)	(358,100)	(866,900)	(166,400)	(305,200)	(306,900)	(381,100)	(92,100)	(5,052,900)	(320,700)
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)	—)	—)
Other	—)	(33,400)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net cash provided by (used in) financing activities	(1,135,500)	(634,000)	(478,100)	47,100)	(446,100)	(407,300)	(614,200)	(322,500)	(247,600)	(725,000)	(101,100)	64,700)	(906,600)	385,400)	(118,200)	(366,400)	(305,300)	612,000)	(2,612,800)	335,600)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(700)	800)	(300)	(500)	200)	(200)	(400)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net increase (decrease) in cash, cash equivalents, and restricted cash	477,200)	83,600)	(681,600)	(128,000)	577,600)	210,500)	(1,979,100)	809,400)	(385,400)	96,200)	49,400)	461,100)	(546,800)	1,360,200)	634,300)	(756,900)	620,700)	(418,100)	(216,000)	590,400)

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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 increased from Q2 2024 to Q3 2024 but then slightly decreased from Q3 2024 to Q4 2024.
Net cash (used in) provided by 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) provided by investing activities decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Net cash provided by (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 provided by (used in) financing activities decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN)

Cash Flow Statement Quarterly Data

Cash Flow Statement
Quarterly Data