8-KEarnings & ResultsExhibits & Filings

ELI LILLY & Co 8-K Report, Financial Results (Apr 24, 2013)

Filed April 24, 2013For Securities:LLY

Summary

Eli Lilly and Company (LLY) filed an 8-K on April 24, 2013, to report its first-quarter 2013 financial results. The filing includes a press release and related financial statements, detailing the company's performance for the three-month period ending March 31, 2013. Notably, the company highlighted its use of non-GAAP financial measures, such as non-GAAP net income and earnings per share, which it believes offer valuable insights into ongoing operations and facilitate period-over-period comparisons by excluding items that can be highly variable and difficult to predict. Investors should pay close attention to the company's rationale for using these non-GAAP metrics, as they are presented alongside GAAP figures and are intended to complement, rather than replace, traditional financial reporting. Management utilizes these non-GAAP measures internally for performance evaluation and resource allocation. The filing also indicates that prospective earnings guidance may be subject to adjustments similar to those excluded in non-GAAP reporting, underscoring the importance of reviewing the full context of financial disclosures.

Key Highlights

  • 1Company reported first-quarter 2013 financial results via an 8-K filing on April 24, 2013.
  • 2The filing includes a press release and financial statements for the three-month period ending March 31, 2013.
  • 3Eli Lilly utilized non-GAAP financial measures, including non-GAAP net income and earnings per share, in its reporting.
  • 4The company believes non-GAAP measures provide useful insights into ongoing operations and aid in meaningful period-over-period comparisons.
  • 5Non-GAAP measures exclude highly variable and unpredictable items that could significantly impact reported operations.
  • 6Management uses non-GAAP metrics internally for business performance evaluation and resource allocation.
  • 7The filing emphasizes that non-GAAP measures should be considered in addition to, not as a substitute for, GAAP financial statements.

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially report Eli Lilly and Company's financial results for the first quarter of 2013, which ended on March 31, 2013. It includes a press release and related financial statements that were issued on April 24, 2013.

Eli Lilly uses non-GAAP financial measures, such as non-GAAP net income and earnings per share, because they believe these metrics provide a clearer view of ongoing operational performance. These measures exclude certain items that are typically highly variable, difficult to predict, and could significantly impact reported results, thereby helping investors make more meaningful period-over-period comparisons and identify underlying operating trends.

Investors should interpret non-GAAP measures as supplementary information to GAAP financial statements. The company explicitly states that these measures are intended to be considered in addition to, not as a substitute for or superior to, measures prepared in accordance with GAAP. They can help assess ongoing business performance but should not be the sole basis for investment decisions.

The information provided in Item 2.02 and the attached press release are considered 'furnished' to the SEC, not 'filed.' This means they are made publicly available through the SEC filing system, but they do not carry the same legal implications or liability under Section 18 of the Securities Exchange Act of 1934 as information that is formally 'filed'.