8-KEarnings & ResultsExhibits & Filings

ELI LILLY & Co 8-K Report, Financial Results (Jan 30, 2014)

Filed January 30, 2014For Securities:LLY

Summary

Eli Lilly and Company (LLY) filed an 8-K on January 30, 2014, to report its fourth quarter and full-year 2013 financial results. The report primarily directs investors to a press release (Exhibit 99.1) which contains detailed financial statements and operational highlights. A key aspect of the filing is Lilly's use and explanation of non-GAAP financial measures, such as non-GAAP net income and earnings per share. The company asserts these non-GAAP figures provide valuable insights into ongoing operations by excluding highly variable and difficult-to-predict items, thereby aiding in meaningful period-over-period comparisons and trend identification. Management also uses these non-GAAP metrics internally for performance evaluation and resource allocation.

Key Highlights

  • 1Announcement of Q4 and Full-Year 2013 financial results.
  • 2Reference to a detailed press release (Exhibit 99.1) containing income statements and operational discussions.
  • 3Explanation of the use of non-GAAP financial measures (e.g., non-GAAP net income, EPS) alongside GAAP figures.
  • 4Justification for non-GAAP measures: investor evaluation of ongoing operations, period-over-period comparisons, and trend identification.
  • 5Management's internal use of non-GAAP measures for performance evaluation and resource allocation.
  • 6Prospective earnings guidance is subject to adjustments for unpredictable future events.
  • 7Information furnished under Item 2.02 is not deemed 'filed' for Section 18 purposes.

Frequently Asked Questions

The main purpose of this 8-K filing is to report Eli Lilly and Company's financial results for the fourth quarter and the full twelve-month period ended December 31, 2013. It also includes information regarding the company's use of non-GAAP financial measures.

The detailed financial results, including income statements and other operational information, are provided in the press release dated January 30, 2014, which is attached to this 8-K filing as Exhibit 99.1.

Eli Lilly uses non-GAAP financial measures because they believe these measures, which exclude items that are highly variable and difficult to predict, provide investors with a clearer view of the company's ongoing operations and allow for more meaningful period-over-period comparisons and trend analysis than GAAP measures alone.

No, Eli Lilly states that investors should consider non-GAAP measures in addition to, not as a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. They are intended to provide supplemental insights.