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Boston Scientific Announces Results For Second Quarter Ended June 30, 2013
Date:7/25/2013

re $28 million and pre-tax restructuring-related charges were $5 million, of which $2 million was recorded in cost of products sold and $3 million was recorded in selling, general and administrative expenses.  An explanation of our use of these non-GAAP financial measures is provided at the end of this document. 

 

 

 

BOSTON SCIENTIFIC CORPORATIONNON-GAAP NET INCOME AND NET INCOME PER COMMON SHARE RECONCILIATIONS

(Unaudited)

 Six Months Ended June 30, 2013in millions, except per share dataPre-TaxTax Impact (a)After-TaxImpact per diluted shareGAAP net income (loss)$(242)$18$(224)$(0.17)Non-GAAP adjustments:Goodwill impairment charge

423(2)4210.31*Intangible asset impairment charges

53(8)450.03*Acquisition-related net charges (credits)

(35)(1)(36)(0.03)*Divestiture-related charges (credits)

(37)11(26)(0.02)*Restructuring and restructuring-related net charges (b)

46(12)340.03*Litigation-related charges

130(48)820.06*Amortization expense

204(29)1750.14*Adjusted net income$542$(71)$471$0.35Six Months Ended June 30, 2012in millions, except per share dataPre-TaxTax Impact (a)After-TaxImpact per diluted shareGAAP net income (loss)$(3,495)$30$(3,465)$(2.42)Non-GAAP adjustments:Goodwill impairment charge

3,602(23)3,5792.49**Intangible asset impairment charge

129(19)1100.08**Acquisition-related net charges (credits)

(21)11(10)(0.01)**Divestiture-related charges (credits)

22—**Restructuring and restructuring-related charges (c )

50(13)370.03**Litigation-related net charges

69(29)400.03**Amortization expense

195(29)1660.12**Adjusted net income$531$(72)$459$0.32* Assumes dilution of 14.0 million shares for the six months ended June 30, 2013 for all or a portion of these non-GAAP adjustments.  ** Assumes dilution of 7.3 million shares for
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SOURCE Boston Scientific Corporation
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