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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Product sales $ 1,576.8 $ 1,552.0 $ 4,476.2 $ 4,329.7
Royalties 76.3 39.9 218.2 101.4
Other revenues 1.9 5.2 6.6 14.9
Total revenues 1,655.0 1,597.1 4,701.0 4,446.0
Costs and expenses:        
Cost of product sales 262.7 254.3 718.5 760.8
Research and development [1] 241.2 228.6 1,210.8 826.0
Selling, general and administrative [1] 575.0 522.9 1,708.9 1,449.4
Gain on sale of product rights (0.7) (46.0) (13.0) (86.2)
Reorganization costs 31.1 28.2 59.6 123.4
Integration and acquisition costs 89.9 37.1 (46.8) 155.8
Total operating expenses 1,199.2 1,025.1 3,638.0 3,229.2
Operating income from continuing operations 455.8 572.0 1,063.0 1,216.8
Interest income 0.8 3.6 3.4 22.8
Interest expense (10.7) (6.8) (31.6) (25.7)
Other income, net 9.6 6.8 11.9 14.8
Total other (expense)/income, net (0.3) 3.6 (16.3) 11.9
Income from continuing operations before income taxes and equity in (losses)/earnings of equity method investees 455.5 575.6 1,046.7 1,228.7
Income taxes 22.3 (61.2) 9.0 64.7
Equity in (losses)/earnings of equity method investees, net of taxes (0.7) 1.4 (1.6) 3.8
Income from continuing operations, net of taxes 477.1 515.8 1,054.1 1,297.2
Loss from discontinued operations, net of taxes (24.3) (36.1) (31.3) (64.0)
Net income $ 452.8 $ 479.7 $ 1,022.8 $ 1,233.2
Earnings Per Share, Basic [Abstract]        
Earnings from continuing operations (in USD per share) $ 0.807 $ 0.878 $ 1.786 $ 2.213
Loss from discontinued operations (in USD per share) (0.041) (0.061) (0.053) (0.109)
Earnings per ordinary share - basic (in USD per share) 0.766 0.817 1.733 2.104
Earnings Per Share, Diluted [Abstract]        
Earnings from continuing operations (in USD per share) 0.804 0.870 1.777 2.191
Loss from discontinued operations (in USD per share) (0.041) (0.061) (0.053) (0.108)
Earnings per ordinary share - diluted (in USD per share) 0.763 0.809 1.724 2.083
Dividends per share declared $ 0 $ 0 $ 0.1909 $ 0.1693
Weighted average number of shares:        
Basic (in shares) [2] 590.9 587.6 590.2 586.1
Diluted (in shares) 593.4 592.6 593.2 592.1
[1] Research and development (“R&D”) includes IPR&D intangible asset impairment charges of $nil for the three months to September 30, 2015 (2014: $nil) and $523.3 million for the nine months to September 30, 2015 (2014: $188.0 million). Selling, general and administrative (“SG&A”) costs include amortization of intangible assets relating to intellectual property rights acquired of $132.7 million for the three months to September 30, 2015 (2014: $62.9 million) and $352.3 million for the nine months to September 30, 2015 (2014: $181.9 million).
[2] Excludes shares purchased by the EBT and presented by Shire as treasury stock