Eli Lilly 2007 Annual Report Download - page 16

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FINANCIALS
14
Consolidated Statements of Income
ELI LILLY AND COMPANY AND SUBSIDIARIES
(Dollars in millions, except per-share data) Year Ended December 31 2007 2006 2005
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $18,633.5 $15,691.0 $14,645.3
Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,248.8 3,546.5 3,474.2
Research and development . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,486.7 3,129.3 3,025.5
Marketing, selling, and administrative . . . . . . . . . . . . . . . . . . . . . . . . . 6,095.1 4,889.8 4,497.0
Acquired in-process research and development (Note 3) . . . . . . . . . 745.6 — —
Asset impairments, restructuring, and other special
charges (Note 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 302.5 945.2 1,245.3
Other income—net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (122.0) (237.8) (314.2)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,756.7 12,273.0 11,927.8
Income before income taxes and cumulative effect
of a change in accounting principle. . . . . . . . . . . . . . . . . . . . . . . . . . 3,876.8 3,418.0 2,717.5
Income taxes (Note 11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 923.8 755.3 715.9
Income before cumulative effect of a change in accounting
principle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,953.0 2,662.7 2,001.6
Cumulative effect of a change in accounting principle,
net of tax (Note 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (22.0)
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,953.0 $ 2,662.7 $ 1,979.6
Earnings per share—basic (Note 10)
Income before cumulative effect of a change in accounting
principle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2.71 $2.45 $1.84
Cumulative effect of a change in accounting principle. . . . . . . . . . — — (0.02)
Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2.71 $2.45 $1.82
Earnings per share—diluted (Note 10)
Income before cumulative effect of a change in accounting
principle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2.71 $2.45 $1.83
Cumulative effect of a change in accounting principle. . . . . . . . . . — — (0.02)
Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2.71 $2.45 $1.81
See notes to consolidated fi nancial statements.