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Pharmaceuticals, Inc., offset in part by a pre-tax impairment charge
of $(1,289)K related to our investment in the common stock of GTC
Biotherapeutics, Inc.
(7) All periods reflect the adoption of Emerging Issues Task Force Issue
No. 04-8, "The Effect of Contingently Convertible Debt on Diluted
Earnings Per Share," or EITF 04-8. As a result of the adoption of
EITF 04-8, the 9,686K shares issuable upon conversion of our $690.0
million in principal of 1.25% convertible senior notes, which were
issued in December 2003, are now included in diluted weighted average
shares outstanding for purposes of computing diluted earnings per
share, unless the effect would be anti-dilutive. In accordance with
EITF 04-8, interest and debt fees related to these notes of $1.9
million, net of tax, for both the three months ended June 30, 2008 and
2007, and $3.8 million, net of tax, for both the six months ended June
30, 2008 and 2007 have been added back to net income and 9,686K shares
have been added to diluted weighted average shares outstanding for
each of those periods for purposes of computing diluted earnings per
share.
GENZYME CORPORATION (GENZ)
Condensed Consolidated Balance Sheets
(Unaudited, amounts in thousands)
June 30, December 31,
2008 2007
Cash and all marketable securities $1,254,494 $1,460,394
Other current assets 1,868,455 1,661,740
Property, plant and equipment, net 2,212,044 1,968,402
Intangibles, net (1) 3,394,232 2,959,480
Other noncurrent assets (2)
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