EX-99.2 3 a99191exv99w2.htm EXHIBIT 99.2 Exhibit 99.2
 

Exhibit 99.2

1. Reconciliation of earnings per share calculation excluding IPR&D and other items for the year ended December 31, 2003.

         
    Year Ended
In thousands, except per share data
  December 31, 2003
Income (loss) from continuing operations
  $ (64,986 )
Excludes:
       
IPR&D
    117,609  
Loss on early extinguishment of debt
    12,803  
Tax effect on loss
    (4,865 )
 
   
 
 
Net income from continuing operations before IPR&D and other items
  $ 60,561  
 
   
 
 
Diluted EPS from continuing operations before IPR&D and other items
  $ 0.71  
 
   
 
 
Shares used in per share calculation (1)
    84,763  
 
   
 
 

(1) The shares used in the diluted EPS from continuing operations before acquired in-process research and development (“IPR&D”) and other items includes the dilutive effect of stock options.

Note: The financial results above are adjusted to exclude the effects of IPR&D and other items. The Company’s chief decision makers exclude these items in assessing financial performance, primarily due to their non-operational nature.

 


 

2. Reconciliation of operating income by region excluding IPR&D for the three months ended March 31, 2003 and 2004.

                 
    First Quarter Ended
In millions
  2003
  2004
Operating income (loss):
               
North America
  $ (3 )   $ 7  
Latin America
    7       6  
Europe
    7       9  
AAA
    2        
 
   
 
     
 
 
Total pharmaceuticals excluding IPR&D
    13       22  
Research and development
    33       (1 )
Corporate expenses
    (14 )     (13 )
 
   
 
     
 
 
Operating income (loss) excluding IPR&D
    32       8  
IPR&D
          (11 )
 
   
 
     
 
 
Operating income (loss)
  $ 32     $ (3 )