v2.4.0.6
Consolidated Statement of Earnings (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Net Sales $ 35,166,721 $ 30,764,707 $ 29,527,552
Cost of products sold 14,665,192 13,209,329 12,612,022
Research and development 3,724,424 2,743,733 2,688,811
Acquired in-process research and development 313,200 170,000 97,256
Selling, general and administrative 10,376,324 8,405,904 8,435,624
Total Operating Cost and Expenses 29,079,140 24,528,966 23,833,713
Operating Earnings 6,087,581 6,235,741 5,693,839
Interest expense 553,135 519,656 528,474
Interest (income) (105,453) (137,779) (201,229)
(Income) from the TAP Pharmaceutical Products Inc. joint venture     (118,997)
Net foreign exchange (gain) loss (10,924) 35,584 84,244
Other (income) expense, net (62,011) (1,375,494) (454,939)
Earnings from Continuing Operations Before Taxes 5,712,834 7,193,774 5,856,286
Taxes on Earnings from Continuing Operations 1,086,662 1,447,936 1,122,070
Earnings from continuing operations 4,626,172 5,745,838 4,734,216
Gain on Sale of Discontinued Operations, net of taxes     146,503
Net Earnings $ 4,626,172 $ 5,745,838 $ 4,880,719
Basic Earnings Per Common Share --      
Continuing Operations (in dollars per share) $ 2.98 $ 3.71 $ 3.06
Gain on Sale of Discontinued Operations, net of taxes (in dollars per share)     $ 0.10
Net Earnings (in dollars per share) $ 2.98 $ 3.71 $ 3.16
Diluted Earnings Per Common Share --      
Continuing Operations $ 2.96 $ 3.69 $ 3.03
Gain on Sale of Discontinued Operations, net of taxes (in dollars per share)     $ 0.09
Net Earnings $ 2.96 $ 3.69 $ 3.12
Average Number of Common Shares Outstanding Used for Basic Earnings Per Common Share (in shares) 1,546,400 1,546,983 1,545,355
Dilutive Common Stock Options and Awards (in shares) 9,622 8,143 15,398
Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options and Awards (in shares) 1,556,022 1,555,126 1,560,753
Outstanding Common Stock Options Having No Dilutive Effect (in shares) 29,403 66,189 30,579