(9)Income tax adjustment
(10)*Noncontrolling Interest adjustments:Other revenues
--Research and development
1,214(2,018)Selling, general and administrative706200Interest income
424(3)Other income (expense)
-(2,658)Less amount attributable to noncontrolling interest
(2,344)4,47824,44876,189ADJUSTED NET INCOME ATTRIBUTABLE TO CEPHALON, INC.
$ 142,623$ 165,253BASIC ADJUSTED INCOME PER COMMON SHARE
2.20DILUTED ADJUSTED INCOME PER COMMON SHARE
2.05WEIGHTED AVERAGE NUMBER OF COMMONSHARES OUTSTANDING
76,67975,192WEIGHTED AVERAGE NUMBER OF COMMONSHARES OUTSTANDING-ASSUMING DILUTION
88,30380,507* Amounts recorded by our Variable Interest Entities that have been excluded from net income attributable to Cephalon, Inc.Notes to Reconciliation of GAAP Net Income to Adjusted Net Income(1) To exclude the on-going amortization of acquired intangible assets ($26.9M in 2011: $32.2M in 2010), the reversal of a royalty accrual related to AMRIX sales milestones that are no longer expected to be payable ($27.8M in 2011), accelerated depreciation related to restructuring ($5.5M in 2010), amortization of inventory revaluation related to Mepha ($5.0M in 2010) and the write-off of modafinil purchase commitments in excess of estimated requirements ($9.4M in 2010).(2) To exclude accelerated depreciation related to worldwide restructuring ($0.3M in 2011 and 2010).(3) In 2011, to exclude charges related to the unsolicited proposal we received from Valeant Pharmaceuticals International and the Agreement and Plan of Merger with Teva Pharmaceutical Industries Ltd. ($20.9M), and charges associated with recent acquisitions. In 2010, to exclude charges related to the acquisition of Mepha ($7.9M) and the acquisition of Ception noncontrolling interest ($1.4M). (4) In 2011, to
|SOURCE Cephalon, Inc.|
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