8-KExhibits & Filings

ELI LILLY & Co 8-K Report, Exhibit Filing (Jan 28, 2016)

Filed January 28, 2016For Securities:LLY

Summary

Eli Lilly and Company (LLY) filed an 8-K on January 28, 2016, reporting its financial results for the fourth quarter and full fiscal year ended December 31, 2015. The report primarily disclosed earnings and provided context through a press release and a conference call, both of which are attached as exhibits. A key aspect of the filing is the company's use and explanation of non-GAAP financial measures, such as non-GAAP net income and earnings per share. Lilly uses these measures to provide investors with a clearer view of ongoing operations by excluding the impact of significant acquisitions, divestitures, amortization of intangibles, and other variable or unpredictable items. The company believes these adjusted figures aid in meaningful period-over-period comparisons and trend identification, which are also utilized internally for performance evaluation and resource allocation.

Key Highlights

  • 1Eli Lilly announced its Q4 and full-year 2015 financial results on January 28, 2016.
  • 2The company utilizes and explains its use of non-GAAP financial measures, including non-GAAP net income and EPS, to present core operational performance.
  • 3Non-GAAP measures exclude impacts from acquisitions, divestitures, and amortization of intangibles, which are considered variable and difficult to predict.
  • 4Lilly asserts that these non-GAAP measures help investors evaluate ongoing operations and identify trends.
  • 5Management uses non-GAAP measures internally for performance assessment and incentive compensation.
  • 6A press release and related financial statements for Q4 and FY 2015 are attached as Exhibit 99.1.
  • 7The information provided in Item 2.02 is furnished, not filed, for Section 18 purposes.

Frequently Asked Questions

This 8-K filing announces Eli Lilly's financial results for the fourth quarter and full fiscal year ended December 31, 2015, and provides the associated press release and financial statements as exhibits.

Eli Lilly uses non-GAAP financial measures, such as non-GAAP net income and earnings per share, to provide investors with a clearer understanding of its ongoing operational performance. These measures exclude items like the impact of acquisitions, divestitures, and amortization of intangibles that can be variable and make period-over-period comparisons difficult.

No, Eli Lilly states that investors should consider these non-GAAP measures in addition to, not as a substitute for or superior to, measures prepared in accordance with GAAP. The company believes they provide useful supplemental information for evaluating ongoing operations and identifying trends.

The detailed financial results and the reconciliation of non-GAAP measures to corresponding GAAP results are provided in Exhibit 99.1, which is the press release dated January 28, 2016, attached to this Form 8-K.