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Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:      
Product sales $ 4,757.5 $ 4,252.9 $ 3,844.9
Royalties 153.7 241.6 283.5
Other revenues 23.1 32.9 29.7
Total revenues 4,934.3 4,527.4 4,158.1
Costs and expenses:      
Cost of product sales 670.8 585.8 551.7
Research and development 933.4 [1] 953.0 [1] 764.5 [1]
Selling, general and administrative 1,651.3 [1] 1,948.0 [1] 1,675.7 [1]
Goodwill impairment charge 7.1 0 0
(Gain)/ loss on sale of product rights (15.9) (18.1) 6.0
Reorganization costs 88.2 0 24.3
Integration and acquisition costs (134.1) 13.5 0.1
Total operating expenses 3,200.8 3,482.2 3,022.3
Operating income from continuing operations 1,733.5 1,045.2 1,135.8
Interest income 2.1 3.0 1.9
Interest expense (38.1) (38.2) (39.1)
Other (expense)/income, net (3.9) (2.2) 18.5
Total other expense, net (39.9) (37.4) (18.7)
Income from continuing operations before income taxes and equity in earnings of equity method investees 1,693.6 1,007.8 1,117.1
Income taxes (277.9) (203.1) (236.9)
Equity in earnings of equity method investees, net of taxes 3.9 1.0 2.5
Income from continuing operations, net of taxes 1,419.6 805.7 882.7
Loss from discontinued operations, net of taxes (754.5) (60.3) (17.7)
Net income $ 665.1 $ 745.4 $ 865.0
Earnings from continuing operations (in USD per share) $ 2.572 $ 1.451 $ 1.601
Loss from discontinued operations (in USD per share) $ (1.367) $ (0.109) $ (0.032)
Earnings per ordinary share - basic (in USD per share) $ 1.205 $ 1.342 $ 1.569
Earnings from continuing operations (in USD per share) $ 2.453 $ 1.410 $ 1.539
Loss from discontinued operations (in USD per share) $ (1.278) $ (0.101) $ (0.030)
Earnings per ordinary share - diluted (in USD per share) $ 1.175 $ 1.309 $ 1.509
Weighted average number of shares:      
Basic (in shares) 552.0 [2] 555.4 [2] 551.1 [2]
Diluted (in shares) 590.3 593.5 595.4
[1] Research and development (“R&D”) includes intangible asset impairment charges of $19.9 million (2012: $71.2 million, 2011: $16.0 million) for the year to December 31, 2013. Selling, general and administrative (“SG&A”) costs include amortization and impairment charges of intangible assets relating to intellectual property rights acquired of $152.0 million for the year to December 31, 2013 (2012: $280.3 million, 2011: $145.0 million).
[2] Excludes shares purchased by the EBT and under the share buy-back program and presented by Shire as treasury stock