investment in the common stock of Cambridge Antibody Technology Group
plc in May and June 2006.
(9) Includes charges totaling $(5,735)K recorded in December 2007 to
write off costs associated with the manufacture of tolevamer at our
manufacturing facilities in Ireland and the United Kingdom.
(10) All periods except for the three months and year ended December 31,
2006, 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 the three months ended December 31, 2007 and
$7.5 million, net of tax, for the twelve months ended December 31,
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.
For the three months and year ended December 31, 2006, excludes: (i)
the dilutive effect of options, stock purchase rights and warrants to
purchase shares of Genzyme Stock and (ii) the potentially dilutive
effect of the assumed conversion of our convertible senior notes
because the effect would be anti-dilutive due to our net loss for
both of those periods.
GENZYME CORPORATION (GENZ)
|SOURCE Genzyme Corporation|
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