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Impairment charge - 12,417 (9)
Acquired in-process research and
development - 5,000 (10)
Debt exchange expense - 48,122 (11)
Write-off of deferred debt issuance
costs - 13,105 (12)
Gain on extinguishment of debt (5,319)(5) -
Gain on sale of investment (5,791)(6) -
Income taxes (58,608)(7) (74,891)(7) (13)
500,515 171,300
ADJUSTED NET INCOME $308,811 $316,116
BASIC ADJUSTED INCOME PER COMMON SHARE $4.64 $5.22
DILUTED ADJUSTED INCOME PER COMMON
SHARE $3.92 $4.54
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING 66,597 60,507
WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING-ASSUMING DILUTION 78,684 69,672 Notes to Reconciliation of GAAP Net Income (Loss) to Adjusted Net Income
(1) In 2007, to exclude the on-going amortization of acquired intangible
assets. In 2006, to exclude the reserve for SPARLON capitalized
inventory costs ($8.6 million) and the on-going amortization of
acquired intangible assets ($81.7 million).
(2) In 2007, to exclude charges related to payments for several research
and development collaborations ($28.5 million) and the recognition of
a milestone related to the FDA's acceptance of our NDA filing for
TREANDA(R) (bendamustine HCl) ($15.0 million). In 2006, to exclude
charges related to payments for several research and development
collaborations.
(3) In 2007, to e
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