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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Revenues $ 1,663,496 $ 1,500,673 $ 4,783,003 $ 4,289,780
Expenses:        
Research and development 556,972 529,749 1,584,847 1,547,159
Selling, general, and administrative 369,232 306,766 1,064,886 910,520
Total expenses 1,036,573 940,747 2,966,661 2,749,000
Income from operations 626,923 559,926 1,816,342 1,540,780
Other income (expense):        
Other income (expense), net 16,432 11,861 81,842 2,048
Interest expense (7,494) (6,182) (20,851) (19,084)
Total other income (expense) 8,938 5,679 60,991 (17,036)
Income before income taxes 635,861 565,605 1,877,333 1,523,744
Income tax expense (41,206) (177,288) (253,286) (498,752)
Net income $ 594,655 $ 388,317 $ 1,624,047 $ 1,024,992
Net income per share - basic (in dollars per share) $ 5.50 $ 3.64 $ 15.06 $ 9.66
Net income per share - diluted (in dollars per share) $ 5.17 $ 3.32 $ 14.14 $ 8.84
Weighted average shares outstanding - basic (in shares) 108,033 106,706 107,828 106,108
Weighted average shares - diluted (in shares) 115,088 117,028 114,843 115,994
Statements of Comprehensive Income        
Net income $ 594,655 $ 388,317 $ 1,624,047 $ 1,024,992
Other comprehensive income (loss), net of tax:        
Unrealized gain (loss) on marketable securities 752 21,485 (6,954) 36,645
Unrealized gain on cash flow hedges 341 2 2,388 30
Comprehensive income 595,748 409,804 1,619,481 1,061,667
Product        
Revenues:        
Revenues 1,025,488 957,367 3,009,779 2,739,745
Expenses:        
Cost of goods sold 30,817 46,388 136,010 149,774
Collaboration and contract manufacturing        
Expenses:        
Cost of goods sold 79,552 57,844 180,918 141,547
Sanofi | Product and service, other        
Revenues:        
Revenues 256,265 245,175 683,508 677,670
Bayer | Product and service, other        
Revenues:        
Revenues 264,373 236,625 775,164 640,919
Other | Product and service, other        
Revenues:        
Revenues $ 117,370 $ 61,506 $ 314,552 $ 231,446