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Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Product sales $ 1,469.6 $ 1,207.9 $ 2,777.7 $ 2,306.1
Royalties 29.2 36.3 61.5 74.8
Other revenues 3.3 8.0 9.7 14.7
Total revenues 1,502.1 1,252.2 2,848.9 2,395.6
Costs and expenses:        
Cost of product sales 277.0 164.3 506.5 311.7
Research and development 236.9 [1] 256.5 [1] 597.4 [1] 477.1 [1]
Selling, general and administrative 496.2 [1] 410.0 [1] 926.5 [1] 801.7 [1]
Goodwill impairment charge 0 0 0 7.1
Gain on sale of product rights (3.8) (4.5) (40.2) (11.0)
Reorganization costs 45.8 17.7 95.2 35.2
Integration and acquisition costs 112.1 17.4 118.7 21.5
Total operating expenses 1,164.2 861.4 2,204.1 1,643.3
Operating income from continuing operations 337.9 390.8 644.8 752.3
Interest income 18.7 0.5 19.2 1.2
Interest expense (11.1) (9.1) (18.9) (18.3)
Other income/(expense), net 3.3 (1.3) 8.0 (2.3)
Total other income/(expense), net 10.9 (9.9) 8.3 (19.4)
Income from continuing operations before income taxes and equity in earnings of equity method investees 348.8 380.9 653.1 732.9
Income taxes 176.5 (90.5) 125.9 (161.9)
Equity in earnings of equity method investees, net of taxes 3.0 0.5 2.4 0.9
Income from continuing operations, net of taxes 528.3 290.9 781.4 571.9
Loss from discontinued operations, net of taxes (5.2) (32.8) (27.9) (249.0)
Net income $ 523.1 $ 258.1 $ 753.5 $ 322.9
Earnings from continuing operations (in USD per share) $ 0.901 $ 0.529 $ 1.336 $ 1.039
Loss from discontinued operations (in USD per share) $ (0.009) $ (0.060) $ (0.048) $ (0.453)
Earnings per ordinary share - basic (in USD per share) $ 0.892 $ 0.469 $ 1.288 $ 0.586
Earnings from continuing operations (in USD per share) $ 0.895 $ 0.509 $ 1.323 $ 0.999
Loss from discontinued operations (in USD per share) $ (0.009) $ (0.056) $ (0.047) $ (0.424)
Earnings per ordinary share - diluted (in USD per share) $ 0.886 $ 0.453 $ 1.276 $ 0.575
Weighted average number of shares:        
Basic (in shares) 586.4 [2] 549.6 [2] 585.3 [2] 550.5 [2]
Diluted (in shares) 590.3 586.0 590.3 587.5
[1] Research and development (“R&D”) includes intangible asset impairment charges of $22.0 million (2013: $19.9 million) for the three months to June 30, 2014 and $188.0 million for the six months to June 30, 2014 (2013: $19.9 million). Selling, general and administrative (“SG&A”) costs include amortization of intangible assets relating to intellectual property rights acquired of $61.2 million for the three months to June 30, 2014 (2013: $35.9 million) and $119.0 million for the six months to June 30, 2014 (2013: $72.0 million).
[2] Excludes shares purchased by the EBT and presented by Shire as treasury stock