Where can I find the detailed financial results announced in this 8-K?

The detailed financial results, including the income statement and balance sheet, are provided in the press release dated October 22, 2003, which is attached as Exhibit 99 to this 8-K filing.

What are non-GAAP financial measures and why does Lilly use them?

Non-GAAP financial measures, such as adjusted net income and earnings per share, are financial metrics that exclude certain items from GAAP-reported figures. Lilly uses them to provide investors with a clearer perspective on ongoing operational performance by excluding potentially volatile or unusual charges, such as R&D expenses, restructuring costs, and asset impairments, that may otherwise distort period-over-period comparisons.

Are there any specific charges excluded from the Q3 2003 results in comparison to prior periods?

For the third quarter of 2003, no non-GAAP adjustments were applied to the reported GAAP results. However, when comparing Q3 2003 to Q3 2002, Lilly excluded certain in-process R&D charges from the 2002 period. For the nine-month period comparison, Lilly excluded Q1 2003 restructuring and asset impairment charges, as well as the Q3 2002 R&D charges.

Is the information on non-GAAP measures a substitute for GAAP reporting?

No, Eli Lilly states that these non-GAAP measures should be considered in addition to, not as a substitute for, or superior to, financial performance measures prepared in accordance with GAAP. They are intended to complement, not replace, standard accounting principles.

LLY 8-K SEC Disclosure — Oct 22, 2003

Summary

Eli Lilly & Company (LLY) filed an 8-K on October 22, 2003, to announce its financial results for the third quarter and the first nine months of 2003. The report primarily directs investors to a press release issued on the same date, which contains detailed financial statements including an income statement and balance sheet. A teleconference for analysts and media was also scheduled to discuss these results, with a webcast available on the company's website. The company highlighted its use of non-GAAP financial measures, specifically adjusted net income and diluted earnings per share, to provide a clearer view of ongoing operations. For the third quarter of 2003, there were no non-GAAP adjustments. However, comparisons to the prior year's third quarter excluded certain in-process research and development charges from Q3 2002. For the nine-month period, comparisons excluded restructuring, asset impairments, and other special charges from Q1 2003, as well as the Q3 2002 charges. Lilly's management believes these adjusted measures help investors and the company itself assess performance trends and operational effectiveness by removing potentially volatile and unpredictable items.

Key Highlights

1Eli Lilly announced its Q3 and nine-month 2003 financial results via an 8-K filing on October 22, 2003.
2The primary details of the financial results are contained within an attached press release dated October 22, 2003.
3The company plans to hold a teleconference and webcast on October 22, 2003, to discuss the reported financial results.
4Lilly utilizes non-GAAP financial measures (adjusted net income, EPS) to offer insights into ongoing operational performance.
5Comparisons to prior periods (Q3 2002, nine-month 2002) exclude specific charges for R&D, restructuring, and asset impairments to provide a normalized view.
6Management emphasizes that these non-GAAP measures are supplementary to GAAP results and aid in evaluating operational trends.
7Charles E. Golden, Executive Vice President and CFO, signed the 8-K report.

ELI LILLY & Co 8-K Report (Oct 22, 2003)

Summary

Key Highlights

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