Intangible asset impairment charges $155
Less: Income tax benefit (d) (26)
Intangible asset impairment charges, net of tax $129
Amortization expense $410 $467
Less: Income tax benefit (d) (96) (84)
Amortization expense, net of tax $314 $383
(a) Recorded expenses of $25 million to selling, general and
administrative expenses, $6 million to cost of products sold, and $3
million to research and development expenses.
(b) Recorded to other, net.
(c) Recorded $11 million to cost of products sold; $24 million to selling,
general and administrative expenses; $5 million to research and
development expenses; and $59 million to restructuring charges.
(d) Amounts are tax effected at the Company's effective tax rate, unless
the amount is a significant unusual or infrequently occurring item in
accordance with FASB Interpretation No. 18, "Accounting for Income
Taxes in Interim Periods."
An explanation of the Company's use of these non-GAAP measures is
provided at the end of this document.
BOSTON SCIENTIFIC CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
September 30, December 31,
In millions 2008 2007
Cash and cash equivalents $1,734 $1,452
Trade accounts receivable, net 1,355 1,502
Inventories 854 725
Deferred income taxes
|SOURCE Boston Scientific Corporation|
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