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Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues:        
Product sales $ 1,194.9 $ 1,054.5 $ 3,541.8 $ 3,309.1
Royalties 37.6 41.8 112.4 154.4
Other revenues 4.1 4.1 18.8 16.5
Total revenues 1,236.6 1,100.4 3,673.0 3,480.0
Costs and expenses:        
Cost of product sales 197.1 167.9 528.7 478.8
Research and development 229.1 [1] 224.7 [1] 713.4 [1] 683.6 [1]
Selling, general and administrative 441.1 [1] 437.4 [1] 1,337.4 [1] 1,448.4 [1]
Goodwill Impairment charge 0 0 198.9 0
Gain on sale of product rights (3.6) (5.7) (14.6) (16.5)
Reorganization costs 13.7 0 57.6 0
Integration and acquisition costs 18.4 2.7 39.9 15.1
Total operating expenses 895.8 827.0 2,861.3 2,609.4
Operating income 340.8 273.4 811.7 870.6
Interest income 0.4 0.9 1.6 2.3
Interest expense (9.0) (9.2) (27.0) (29.0)
Other income/(expense), net 0.6 3.5 (1.9) 3.6
Total other expense, net (8.0) (4.8) (27.3) (23.1)
Income before income taxes and equity in (losses)/earnings of equity method investees 332.8 268.6 784.4 847.5
Income taxes (54.3) (41.6) (183.9) (144.6)
Equity in (losses)/earnings of equity method investees, net of taxes (0.3) 0.2 0.6 0.5
Net income $ 278.2 $ 227.2 $ 601.1 $ 703.4
Earnings per ordinary share - basic $ 0.507 $ 0.409 $ 1.093 $ 1.266
Earnings per ordinary share - diluted $ 0.488 $ 0.396 $ 1.062 $ 1.224
Weighted average number of shares:        
Basic 548.4 [2] 555.9 [2] 549.8 [2] 555.5 [2]
Diluted 585.7 593.1 587.5 594.0
[1] Research and development (“R&D”) includes intangible asset impairment charges of $19.9 million (2012: $27.0 million) for the nine months to September 30, 2013. Selling, general and administrative (“SG&A”) costs include amortization of intangible assets relating to intellectual property rights acquired of $44.4 million for the three months to September 30, 2013 (2012: $50.0 million) and $136.1 million for the nine months to September 30, 2013 (2012: $146.6 million).
[2] Excludes shares purchased by the EBT and under the share buy-back program and presented by Shire as treasury stock.