Eli Lilly 2012 Annual Report Download - page 59

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47
Selected Financial Data (unaudited)
ELI LILLY AND COMPANY AND
SUBSIDIARIES
(Dollars in millions, except revenue per
employee and per-share data) 2012 2011 2010 2009 2008
Operations
Revenue . . . . . . . . . . . . . . . . . . . . . $ 22,603.4 $ 24,286.5 $ 23,076.0 $ 21,836.0 $ 20,371.9
Cost of sales. . . . . . . . . . . . . . . . . . 4,796.5 5,067.9 4,366.2 4,247.0 4,376.7
Research and development. . . . . . 5,278.1 5,020.8 4,884.2 4,326.5 3,840.9
Marketing, selling, and
administrative. . . . . . . . . . . . . . . 7,513.5 7,879.9 7,053.4 6,892.5 6,626.4
Other(1) . . . . . . . . . . . . . . . . . . . . . . . (392.9) 968.4 247.0 1,012.2 6,835.5
Income (loss) before income
taxes . . . . . . . . . . . . . . . . . . . . . . 5,408.2 5,349.5 6,525.2 5,357.8 (1,307.6)
Income taxes (2) . . . . . . . . . . . . . . . . 1,319.6 1,001.8 1,455.7 1,029.0 764.3
Net income (loss). . . . . . . . . . . . . . 4,088.6 4,347.7 5,069.5 4,328.8 (2,071.9)
Net income (loss) as a percent of
revenue . . . . . . . . . . . . . . . . . . . . 18.1% 17.9% 22.0% 19.8% NM
Net income (loss) per share—
diluted . . . . . . . . . . . . . . . . . . . . . 3.66 3.90 4.58 3.94 (1.89)
Dividends declared per share. . . . 1.96 1.96 1.96 1.96 1.90
Weighted-average number of
shares outstanding—diluted
(thousands) . . . . . . . . . . . . . . . . . 1,117,294 1,113,967 1,105,813 1,098,367 1,094,499
Financial Position
Current assets . . . . . . . . . . . . . . . . $ 13,038.7 $ 14,248.2 $ 14,840.0 $ 12,486.5 $ 12,453.3
Current liabilities. . . . . . . . . . . . . . 8,389.5 8,930.9 6,926.9 6,568.1 13,109.7
Property and equipment—net. . . . 7,760.2 7,760.3 7,940.7 8,197.4 8,626.3
Total assets. . . . . . . . . . . . . . . . . . . 34,398.9 33,659.8 31,001.4 27,460.9 29,212.6
Long-term debt . . . . . . . . . . . . . . . 5,519.4 5,464.7 6,770.5 6,634.7 4,615.7
Shareholders' equity . . . . . . . . . . . 14,773.9 13,535.6 12,412.8 9,525.3 6,737.7
Supplementary Data
Return on shareholders' equity . . 27.8% 31.4% 46.1% 51.0% (16.3)%
Return on assets . . . . . . . . . . . . . . 12.3% 13.4% 17.7% 15.8% (7.5)%
Capital expenditures . . . . . . . . . . . $ 905.4 $672.0 $694.3 $765.0 $947.2
Depreciation and amortization. . . 1,462.2 1,373.6 1,328.2 1,297.8 1,122.6
Effective tax rate (2) . . . . . . . . . . . . . 24.4% 18.7% 22.3% 19.2% NM
Revenue per employee . . . . . . . . . $ 590,000 $ 638,000 $ 602,000 $ 540,000 $ 504,000
Number of employees. . . . . . . . . . 38,350 38,080 38,350 40,360 40,450
Number of shareholders of
record . . . . . . . . . . . . . . . . . . . . . 33,638 35,200 36,700 38,400 39,800
NM—Not Meaningful
1 The year ended December 31, 2008 reflects the in-process research and development (IPR&D) expense of $4.69 billion associated with
the ImClone acquisition and $1.48 billion associated with the Zyprexa investigation settlements.
2 We incurred tax expense of $764.3 million in 2008, despite having a loss before income taxes of $1.31 billion. Our net loss was driven by
the $4.69 billion acquired IPR&D charge for ImClone and the $1.48 billion Zyprexa investigation settlements. The IPR&D charge was
not tax deductible, and only a portion of the Zyprexa investigation settlements was deductible. In addition, we recorded tax expense
associated with the ImClone acquisition, as well as a discrete income tax benefit of $210.3 million for the resolution of a substantial
portion of the 2001–2004 IRS audit.