| Quarterly Financial Data (unaudited) [Text Block] |
QUARTERLY FINANCIAL DATA (unaudited)
The following table presents unaudited quarterly consolidated operating results for each of our last eight fiscal quarters. The information below has been prepared on a basis consistent with our audited consolidated financial statements (in millions, except per share amounts). | | | | | | | | | | | | | | | | | Fiscal Year 2015 | First Quarter (2) | | Second Quarter (3) | | Third Quarter (4) | | Fourth Quarter (5) | Net sales | $ | 951.5 |
| | $ | 1,071.7 |
| | $ | 1,049.1 |
| | $ | 1,531.6 |
| Gross profit | $ | 321.8 |
| | $ | 383.8 |
| | $ | 378.8 |
| | $ | 628.1 |
| Net income (loss) | $ | 96.3 |
| | $ | 70.2 |
| | $ | (94.9 | ) | | $ | 56.4 |
| Earnings (loss) per share(1): | | | | | | | | Basic | $ | 0.72 |
| | $ | 0.52 |
| | $ | (0.67 | ) | | $ | 0.39 |
| Diluted | $ | 0.72 |
| | $ | 0.51 |
| | $ | (0.67 | ) | | $ | 0.38 |
| Weighted average shares outstanding | | | | | | | | Basic | 133.9 |
| | 136.3 |
| | 140.8 |
| | 146.3 |
| Diluted | 134.4 |
| | 136.8 |
| | 140.8 |
| | 146.8 |
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(1) The sum of individual per share amounts may not equal due to rounding. | | (2) | Includes acquisition costs of $1.1 million, restructuring charges of $1.7 million, equity method investment losses of $3.1 million, and a $1.2 million investment distribution. |
| | (3) | Includes restructuring charges of $2.4 million, an R&D payment made in connection with a collaborative agreement of $10.0 million, Omega transaction expenses of $17.8 million, losses on derivatives associated with the Omega acquisition of $64.7 million, equity method investment losses of $3.0 million, income from transfer of rights agreement of $12.5 million, and $9.6 million loss on extinguishment of debt. |
| | (4) | Includes acquisition costs totaling $2.0 million, an increase in litigation accrual of $2.0 million, restructuring charges of $1.1 million, Omega financing fees of $18.6 million, and losses on derivatives associated with the Omega acquisition of $258.2 million. |
| | (5) | Includes legal and consulting fees related to our defense against Mylan N.V. of $13.4 million, acquisition costs of $18.5 million, goodwill impairment of $6.8 million, losses on derivatives terminated with extinguishment of associated debt and associated with hedging the pending GSK acquisition of $5.5 million, losses on equity method investments of $3.5 million, an inventory step up related to the Omega acquisition totaling $15.6 million, and an initial payment made in connection with an R&D agreement of $18.0 million. |
| | | | | | | | | | | | | | | | | Fiscal Year 2014 | First Quarter (2) | | Second Quarter (3) | | Third Quarter (4) | | Fourth Quarter (5) | Net sales | $ | 933.4 |
| | $ | 979.0 |
| | $ | 1,004.2 |
| | $ | 1,144.2 |
| Gross profit | $ | 356.3 |
| | $ | 360.7 |
| | $ | 315.0 |
| | $ | 415.7 |
| Net income (loss) | $ | 111.4 |
| | $ | (86.0 | ) | | $ | 48.1 |
| | $ | 131.7 |
| Earnings (loss) per share(1): | | | | | | | | Basic | $ | 1.18 |
| | $ | (0.87 | ) | | $ | 0.36 |
| | $ | 0.98 |
| Diluted | $ | 1.18 |
| | $ | (0.87 | ) | | $ | 0.36 |
| | $ | 0.98 |
| Weighted average shares outstanding | | | | | | | | Basic | 94.2 |
| | 98.7 |
| | 133.7 |
| | 133.8 |
| Diluted | 94.7 |
| | 98.7 |
| | 134.3 |
| | 134.3 |
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| | (1) | The sum of individual per share amounts may not equal due to rounding. |
| | (2) | Includes Elan transactions costs of $12.0 million, litigation settlement of $2.5 million, and acquisition costs of $1.9 million. |
| | (3) | Includes loss on extinguishment of debt of $165.8 million, Elan transaction costs of $103.2 million, restructuring charges totaling $14.9 million, write-off of contingent consideration of $4.9 million related to Fera, and write-off of IPR&D totaling $6.0 million related to Paddock and Rosemont. |
| | (4) | Includes restructuring charges totaling $19.5 million, write-up of contingent consideration of $5.8 million related to Fera, and $3.2 million of Elan transaction costs. |
| | (5) | Includes restructuring charges totaling $10.5 million and a loss contingency of $15.0 million related to Texas Medicaid. |
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