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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
REVENUES:        
Net sales $ 730,100 $ 712,435 $ 1,466,102 $ 1,289,116
Other revenues 8,163 14,475 17,274 34,379
TOTAL REVENUES 738,263 726,910 1,483,376 1,323,495
COSTS AND EXPENSES:        
Cost of sales 123,667 170,739 281,650 275,782
Research and development 134,851 101,261 257,164 206,638
Selling, general and administrative 276,068 258,468 526,754 463,109
Change in fair value of contingent consideration 2,600   4,401  
Restructuring charges 4,279 4,581 5,137 5,325
Acquired in-process research and development 0   30,000  
Impairment and (gain) loss on sale of assets 48,408   54,056  
TOTAL COSTS AND EXPENSES 589,873 535,049 1,159,162 950,854
INCOME FROM OPERATIONS 148,390 191,861 324,214 372,641
OTHER INCOME (EXPENSE):        
Interest income 1,253 1,300 2,270 3,230
Interest expense (24,475) (28,182) (48,682) (54,973)
Change in fair value of investments 99,473   264,208  
Other income (expense), net (26,360) (9,332) (29,388) (16,603)
TOTAL OTHER INCOME (EXPENSE) 49,891 (36,214) 188,408 (68,346)
INCOME BEFORE INCOME TAXES 198,281 155,647 512,622 304,295
INCOME TAX EXPENSE 83,089 63,254 185,820 111,565
NET INCOME 115,192 92,393 326,802 192,730
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST 2,983 (3,329) 2,461 6,899
NET INCOME ATTRIBUTABLE TO CEPHALON, INC. $ 118,175 $ 89,064 $ 329,263 $ 199,629
BASIC INCOME PER COMMON SHARE ATTRIBUTABLE TO CEPHALON, INC. (in dollars per share) $ 1.54 $ 1.18 $ 4.32 $ 2.66
DILUTED INCOME PER COMMON SHARE ATTRIBUTABLE TO CEPHALON, INC. (in dollars per share) $ 1.34 $ 1.11 $ 3.97 $ 2.46
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING ATTRIBUTABLE TO CEPHALON, INC. (in shares) 76,679 75,192 76,213 75,092
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING-ASSUMING DILUTION ATTRIBUTABLE TO CEPHALON, INC. (in shares) 88,303 80,507 82,871 81,223