Eli Lilly 2005 Annual Report Download - page 35

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FI NA NCI A L S
33
Selected Financial Data (unaudited)
ELI LILLY AND COMPANY AND SUBSIDIARIES
(Dollars in millions, except per-share data) 2005 2004 2003 2002 2001
Operations
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,645.3 $13,857.9 $12,582.5 $11,077.5 $11,542.5
Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,474.2 3,223.9 2,675.1 2,176.5 2,160.2
Research and development . . . . . . . . . . . . . . . . . . . 3,025.5 2,691.1 2,350.2 2,149.3 2,235.1
Marketing and administration . . . . . . . . . . . . . . . . . 4,497.0 4,284.2 4,055.4 3,424.0 3,417.4
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 931.1 716.8 240.1 (130.0) 222.9
Income before income taxes and cumulative
effect of a change in accounting principle . . . . . 2,717.5 2,941.9 3,261.7 3,457.7 3,506.9
Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 715.9 1,131.8 700.9 749.8 726.9
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,979.61 1,810.1 2,560.8 2,707.9 2,780.0
Net income as a percent of sales . . . . . . . . . . . . . . . 13.5% 13.1% 20.4% 24.4% 24.1%
Net income per share—diluted . . . . . . . . . . . . . . . . 1.81 1.66 2.37 2.50 2.55
Dividends declared per share . . . . . . . . . . . . . . . . . 1.54 1.45 1.36 1.27 1.15
Weighted-average number of shares
outstanding—diluted (thousands). . . . . . . . . . . . 1,092,150 1,088,936 1,082,230 1,085,088 1,090,793
Financial Position
Current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $10,795.8 $12,835.8 $ 8,768.9 $ 7,804.1 $ 6,938.9
Current liabilities. . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,716.3 7,593.7 5,560.8 5,063.5 5,203.0
Property and equipment—net . . . . . . . . . . . . . . . . . 7,912.5 7,550.9 6,539.0 5,293.0 4,532.4
Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,580.8 24,867.0 21,688.3 19,042.0 16,434.1
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,763.5 4,491.9 4,687.8 4,358.2 3,132.1
Shareholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . 10,791.9 10,919.9 9,764.8 8,273.6 7,104.0
Supplementary Data
Return on shareholders’ equity . . . . . . . . . . . . . . . . 18.2% 17.5% 28.4% 35.2% 42.3%
Return on assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.2% 7.8% 12.6% 15.2% 17.8%
Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . $1,298.1 $ 1,898.1 $ 1,706.6 $ 1,130.9 $ 884.0
Depreciation and amortization. . . . . . . . . . . . . . . . . 726.4 597.5 548.5 493.0 454.9
Effective tax rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.3% 38.5% 21.5% 21.7% 20.7%
Number of employees . . . . . . . . . . . . . . . . . . . . . . . . 42,600 44,500 45,000 42,900 40,500
Number of shareholders of record . . . . . . . . . . . . . 50,800 52,400 54,600 56,200 57,700
1
Reflects 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.