| Cash Flow for Regeneron Pharmaceuticals Inc. (REGN) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | (105,600) | (102,337) | (95,446) | 41,699 | (107,458) | | Depreciation & Amortization | 11,487 | 14,592 | 15,504 | 15,362 | 12,937 | | Deferred Income Taxes | - | - | - | - | - | | Operating Losses | - | - | 21,859 | (15,227) | 4,062 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (10,827) | 29,028 | 6,581 | (27,573) | (11,512) | | Decrease in Inventories | - | 3,594 | 1,250 | 6,914 | (1,049) | | Decrease in Other Current Assets | - | - | - | - | - | | Increase in Payables | 18,179 | (652) | 5,413 | 1,025 | 2,429 | | Increase in Other Current Liabilities | - | - | 14,469 | (37,310) | 93,869 | | Decrease in Other Working Capital | 89,764 | 60,833 | - | - | - | | Other Non-Cash Items | 34,018 | 17,862 | - | - | - | | Net Cash from Continuing Operations | 27,372 | 23,075 | (30,296) | (16,909) | (6,133) | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 27,372 | 23,075 | (30,296) | (16,909) | (6,133) | | | | Sale of Property, Plant, Equipment | - | - | - | - | - | | Sale of Short Term Investments | 527,169 | 306,199 | 223,448 | 277,909 | 253,315 | | | Purchase of Property, Plant, Equipment | (18,446) | (2,811) | (4,964) | (6,174) | (29,656) | | Acquisitions | - | - | - | - | - | | Purchase of Short Term Investments | (594,446) | (456,893) | (102,990) | (276,318) | (287,502) | | Other Investment Changes, Net | - | (1,600) | - | - | - | | Cash from Investing Activities | (85,723) | (155,105) | 115,494 | (4,583) | (63,843) | | | Issuance of Debt | - | - | - | 3,827 | 13,656 | | Issuance of Capital Stock | 319,400 | 185,008 | 4,081 | 1,502 | 94,678 | | | Repayment of Debt | - | - | - | - | (150) | | Repurchase of Capital Stock | - | - | - | (888) | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | - | 390 | - | - | - | | Cash from Financing Activities | 319,400 | 185,398 | 4,081 | 4,441 | 108,184 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | 261,049 | 53,368 | 89,279 | (17,051) | 38,208 | | | Cash at Beginning of Year | 237,876 | 184,508 | 95,229 | 118,285 | 80,077 | | Cash at End of Period | 498,925 | 237,876 | 184,508 | 101,234 | 118,285 | | | |
