Wednesday, January 31, 2018

Indianapolis, IN-Based Drug Co Eli Lilly's 4Q 2017 Revenues Were Up 7% From the 4Q 2016 and Pretax Income Was Down 68% or Down $608 Mil, But Excluding Asset Impairments, Restructuring Charges and Other Special Charges in Both Periods, Pretax Income Would Be Up By 24% or Up By $247 Mil Rather Than Down the Reported $608 Mil ....................................................................................... Reported Net Loss in the 4Q 2017 Was $1,657 Mil, An Earnings Deterioration of $2,429 Mil From the Reported Net Income of $772 Mil in the 4Q 2016 ....................................................................................... The Main Reason For the Reported Net Income Decline Was the Income Tax Expense Charges of $1.914 Bil Caused By the US Trump Tax Bill, Including $3.6 Bil Related To the Tax Cost of Foreign Earnings Repatriation (Lilly Did Not Say What the Other $1.686 Bil of Tax Benefits Related To)