Eli Lilly 2011 Annual Report Download - page 45

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FORM 10-K
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
You can find quantitative and qualitative disclosures about market risk (e.g., interest rate risk) in Item 7 at
“Management’s Discussion and Analysis—Financial Condition.” That information is incorporated in this report by
reference.
Item 8. Financial Statements and Supplementary Data
Consolidated Statements of Operations
ELI LILLY AND COMPANY AND SUBSIDIARIES
(Dollars in millions, except per-share data) Year Ended December 31 2011 2010 2009
Revenue ............................................................ $24,286.5 $23,076.0 $21,836.0
Cost of sales ......................................................... 5,067.9 4,366.2 4,247.0
Research and development ............................................ 5,020.8 4,884.2 4,326.5
Marketing, selling, and administrative ................................... 7,879.9 7,053.4 6,892.5
Acquired in-process research and development (Notes 3 and 4) .............. 388.0 50.0 90.0
Asset impairments, restructuring, and other special charges (Note 5) ......... 401.4 192.0 692.7
Other—net, expense (Note 17) .......................................... 179.0 5.0 229.5
18,937.0 16,550.8 16,478.2
Income before income taxes ............................................ 5,349.5 6,525.2 5,357.8
Income taxes (Note 13) ................................................ 1,001.8 1,455.7 1,029.0
Net income .......................................................... $ 4,347.7 $ 5,069.5 $ 4,328.8
Earnings per share—basic and diluted (Note 12) ........................... $ 3.90 $ 4.58 $ 3.94
See notes to consolidated financial statements.
31