Eli Lilly 2015 Annual Report Download - page 64
Download and view the complete annual report
Please find page 64 of the 2015 Eli Lilly annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54 -
55 -
56 -
57 -
58 -
59 -
60 -
61 -
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
 |
 |
F52
FINANCIAL REPORT
Note 2: Implementation of New Financial Accounting Pronouncements
The following table provides a brief description of accounting standards that have not yet been adopted that
could have a material effect on our financial statements:
Standard Description Effective Date
Effect on the financial
statements or other
significant matters
Accounting
Standards Update
2014-09, Revenue
from Contracts with
Customers
This standard will replace existing
revenue recognition standards and
will require entities to recognize
revenues to depict the transfer of
promised goods or services to
customers in an amount that
reflects the consideration to which
the entity expects to be entitled in
exchange for those goods or
services. An entity can apply the
new revenue standard
retrospectively to each prior
reporting period presented or with
the cumulative effect of initially
applying the standard recognized
at the date of initial application in
retained earnings.
This standard is
effective January
1, 2018, but we
are permitted to
adopt this
standard one year
earlier if we
choose. We are
evaluating our
anticipated date of
adoption.
There are areas within
the standard that are
currently under review
and reconsideration by
the Financial Accounting
Standards Board,
including accounting for
licensing transactions,
which could lead to
updates to the standard.
As the outcomes of this
review and
reconsideration could
lead to significant
changes to the standard,
we are still in the process
of determining our
approach to the adoption
of the standard, as well
as the anticipated impact
to our consolidated
financial statements.
Accounting
Standards Update
2016-01, Financial
Instruments - Overall:
Recognition and
Measurement of
Financial Assets and
Financial Liabilities
This standard will require entities
to recognize changes in the fair
value of equity investments with
readily determinable fair values in
net income (except for
investments accounted for under
the equity method of accounting or
those that result in consolidation of
the investee). An entity should
apply the new standard through a
cumulative effect adjustment to
retained earnings as of the
beginning of the fiscal year of
adoption.
This standard is
effective January
1, 2018. Early
adoption of the
majority of the
amendments in
this standard is not
permitted,
however, early
application of
certain
amendments is
permitted. We
intend to fully
adopt this
standard on
January 1, 2018.
We are currently unable
to estimate the impact of
adopting this standard as
the significance of the
impact will depend upon
our equity investments on
hand as of the date of
adoption.