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FINANCIALS
32
Selected Financial Data (unaudited)
ELI LILLY AND COMPANY AND SUBSIDIARIES
(Dollars in millions, except net sales per employee and per-share data) 20072 2006 2005 2004 2003
Operations
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $18,633.5 $15,691.0 $14,645.3 $13,857.9 $12,582.5
Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,248.8 3,546.5 3,474.2 3,223.9 2,675.1
Research and development . . . . . . . . . . . . . . . . . . . 3,486.7 3,129.3 3,025.5 2,691.1 2,350.2
Marketing, selling, and administrative . . . . . . . . . . 6,095.1 4,889.8 4,497.0 4,284.2 4,055.4
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 926.1 707.4 931.1 716.8 240.1
Income before income taxes and cumulative
effect of a change in accounting principle . . . . . 3,876.8 3,418.0 2,717.5 2,941.9 3,261.7
Income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 923.8 755.3 715.9 1,131.8 700.9
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,953.0 2,662.7 1,979.61 1,810.1 2,560.8
Net income as a percent of sales. . . . . . . . . . . . . . . 15.8% 17.0% 13.5% 13.1% 20.4%
Net income per share—diluted . . . . . . . . . . . . . . . . 2.71 2.45 1.81 1.66 2.37
Dividends declared per share. . . . . . . . . . . . . . . . . . 1.75 1.63 1.54 1.45 1.36
Weighted-average number of shares
outstanding—diluted (thousands). . . . . . . . . . . . 1,090,750 1,087,490 1,092,150 1,088,936 1,082,230
Financial Position
Current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $12,256.9 $ 9,694.4 $10,795.8 $12,835.8 $ 8,768.9
Current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,268.3 5,085.5 5,716.3 7,593.7 5,560.8
Property and equipment—net . . . . . . . . . . . . . . . . . 8,575.1 8,152.3 7,912.5 7,550.9 6,539.0
Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26,787.8 21,955.4 24,580.8 24,867.0 21,688.3
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,593.5 3,494.4 5,763.5 4,491.9 4,687.8
Shareholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . 13,664.4 10,980.7 10,791.9 10,919.9 9,764.8
Supplementary Data
Return on shareholders’ equity . . . . . . . . . . . . . . . . 24.0% 24.5% 18.2% 17.5% 28.4%
Return on assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.2% 11.2% 8.2% 7.8% 12.6%
Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,082.4 $ 1,077.8 $ 1,298.1 $ 1,898.1 $ 1,706.6
Depreciation and amortization. . . . . . . . . . . . . . . . . 1,047.9 801.8 726.4 597.5 548.5
Effective tax rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23.8% 22.1% 26.3% 38.5% 21.5%
Net sales per employee. . . . . . . . . . . . . . . . . . . . . . . $ 459,000 $378,000 $344,000 $ 311,000 $280,000
Number of employees . . . . . . . . . . . . . . . . . . . . . . . . 40,600 41,500 42,600 44,500 45,000
Number of shareholders of record . . . . . . . . . . . . . 41,700 44,800 50,800 52,400 54,600
1Refl ects the impact of a cumulative effect of a change in accounting principle in 2005 of $22.0 million, net of income taxes of $11.8 million. The diluted
earnings per share impact of this cumulative effect of a change in accounting principle was $.02. The net income per diluted share before the cumulative
effect of a change in accounting principle was $1.83. See Note 2 for additional information.
2Refl ects the ICOS acquisition, effective January 29, 2007. See Note 3 for additional information.
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Date
Eli Lilly
and
Company
S&P
500
Custom
Peer
Group
12/02 $100.00 $100.00 $100.00
12/03 $113.11 $128.63 $111.25
12/04 $93.35 $142.59 $107.81
12/05 $95.71 $149.58 $107.90
12/06 $90.72 $173.15 $122.21
12/07 $95.87 $182.64 $124.15