Summary

Other Scenarios:

Buyer: Novo Nordisk A/S (ADR) (NVO) Last Price: 92.74 Market Cap.: 31.25B
Target: New River Pharmaceuticals, Inc. (NRPH) Last Price: 63.73 Market Cap.: 2.36B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare 867
Biopharmaceuticals 330
Medical Devices   244

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 33)
  • NovoSeven (Recombinant Coagulation Factor VIIa)
  • rFactor XIII
  • NovoLog Mix 70/30 (Insulin Aspart)
  • Levemir (Insulin Detemir)
Target (Total: 5)
  • NRP409
  • Vyvanse (Lisdexamfetamine Dimesylate)/Formerly NRP104
  • NRP290 (Hydrocodone Prodrug)
  • NRP388
Buyer
  • NovoLog FlexPen/70/30 Mix FlexPen
  • PenMate Insulin Injection System
  • NovoPen Delivery System Series
  • Novolin InnoLet
Target

n/a

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 6)
  • Medarex, Inc. (MEDX)
  • ZymoGenetics, Inc. (ZGEN)
  • Sangamo Biosciences, Inc. (SGMO)
  • Neose Technologies, Inc. (NTEC)
Target (Total: 1)
  • Albany Molecular Research, Inc. (AMRI)
Buyer (Total: 1)
  • Cephalon, Inc. (CEPH)
Target (Total: 0)

n/a

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 23,172 38
Revenue Per Employee 327,226.2 248,982.3
Total Revenue 1,881.7 2.5
Total Expenses 1,503.5 50.1
Other Revenue 0.0 0.0
Cost of Revenue 463.1 0.0
SG&A Expense 713.4 29.3
Research & Development 342.7 16.6
Other Operating Expense -15.8 0.0
Operating Income 378.2 -47.7
Unusual Income 0.0 4.3
LT Debt to Capital 3.75 -0
Fwd P/E 22.51 -77.72
Fwd P/Rev n/a 27.92
Book Value 5,404.9 -109.7
Curr Portion of LTD/Cap Lease 0.0 137.8

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Biopharmaceuticals > Endocrinology/Metabolism > Diabetes

Target

Focused (): *Healthcare > Biopharmaceuticals > Neurology

Business Description

Buyer

Novo Nordisk A/S is a healthcare company headquartered in Denmark. It provides diabetes care and has diabetes product portfolio in the industry, including insulin delivery systems. Novo Nordisk operates on a worldwide basis in two business segments: diabetes care, which includes discovery, development, manufacturing and marketing of products within the areas of insulin and delivery systems and oral anti-diabetic products (OAD), and biopharmaceuticals, which includes discovery, development, manufacturing and marketing of products within the therapy areas hemostasis management (NovoSeven), growth hormone therapy, hormone replacement therapy and other products. Novo Nordisk?s products are marketed in 179 countries. During the year ended December 31, 2006, it initiated a global Phase III study for the use of liraglutide, the human glucagon-like peptide-1 (GLP-1) analogue, in people with type 2 diabetes. In February 2007, the Company sold its 27 % stake in cancer diagnostic company.

Target

New River Pharmaceuticals Inc. is a specialty pharmaceutical company developing pharmaceuticals. Utilizing the Company's Carrierwave technology, it is developing molecular entities that are derivatives of public domain actives, and attempting to address certain deficiencies associated with drugs on the market. The Company?s drug development pipeline includes three active programs in clinical or preclinical development stages. All of its drug candidates are small molecules designed for oral delivery. Vyvanse is intended to provide a safer, abuse-resistant and effective alternative to existing amphetamine-based therapies used to treat Attention Deficit Hyperactiviy Disorder (ADHD). The Company is developing NRP290 to treat acute pain as an alternative to Lortab, Vicodin and Vicoprofen. NRP290 is intended to provide a safer, abuse-resistant and an effective alternative to opioids.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 75.26 100
Operating Margin % 23.54 -174.85
Quick Ratio 1.22 0.88
Current Ratio 2.05 0.89
Coverage Ratio 0 -0.06
Total Assets 8,019.3 151.5
Return on Equity % 21.42 n/a
Return on Assets % 14.44 -37.43
Cash+ ST Inv. Per Share 2.87 3.98
Total Debt 271.3 137.8
Total Debt to Equity % 5.02 0
Total Debt to Tangible Equity % 5.13 n/a
Debt to Asset % 3.38 90.92

Product Summary

Sector Buyer Target
*Healthcare
Biopharmaceuticals
Cardiovascular System
The Cardiovascular System Subsector includes therapeutics that treat disorders affecting the heart and blood vessels.
  
Digestive System
The Digestive System Subsector includes therapeutics that treat disorders affecting the digestive system.
  
Endocrinology/Metabolism
The Endocrinology/Metabolism Subsector includes therapeutics that treat metabolic disorders and conditions resulting from the dysfunction of hormone secreting glands.
Hematology
The Hematology Subsector includes therapeutics that treat blood-based diseases and disorders.
  
Musculoskeletal System
The Musculoskeletal System Subsector includes therapeutics that treat disorders of the bones, joints, ligaments, tendons, and soft tissue involved with them.
  
Neurology
The Neurology Subsector includes therapeutics that treat disorders of the central nervous system, including the brain, spinal cord, and nerves.
Obstetrics/Gynecology
The Obstetrics/Gynecology Subsector includes therapeutics that treat female genital disorders, pregnancy, and childbirth.
  
Oncology
The Oncology Subsector includes therapeutics that treat and manage various types of cancer and related complications.
  
Pain Management
The Pain Management Subsector includes therapeutics that treat and management pain.
  
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
Transplantation
The Transplantation Subsectors includes therapeutics that treat rejection and infection associated with tissue transplantation into the human body.
  
Urology
The Urology Subsector includes therapeutics that treat diseases of the kidney, urinary tract, bladder, and the male reproductive system.
  
Weight Management
The Weight Management Subsectors includes herapeutics that treat and manage weight disorders.
  
Wound Management
The Wound Management Subsector includes therapeutics that treat cuts, abrasions, and burns from trauma or diseases.
  
Medical Devices  
Drug Delivery
The Drug Delivery Subsector includes medical devices that facilitate the delivery of medications through different anatomical entryways, including blood vessels, skin, the mouth, and the lungs. Common devices in this sector include vascular access catheters, needles, implants, and inhalers.
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
*Healthcare
Biopharmaceuticals
Cardiovascular System  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of heart and circulatory system disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  • rFactor XIII
  
Digestive System  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of digestive disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  
Endocrinology/Metabolism
Diabetes  
Insulin Dependent Diabetes Mellitus (IDDM)/Type 1 Diabetes  
Insulin Therapy  
Human Analogs
Insulin supplements that resemble natural human insulin.

Buyer Products:

  • NovoLog Mix 70/30 (Insulin Aspart)
  • Levemir (Insulin Detemir)
  • NovoLog (Insulin Aspart)
  • NovoMix 50 (Insulin Aspart Mixture)
  • NovoMix 70 (Insulin Aspart Mixture)
  • Velosulin BR (Human Insulin)
  
Recombinant Human
Therapeutics that are derived from human genes.

Buyer Products:

  • AERx iDMS/NN 1998 (Aerosolized Insulin)
  • Novolin R (Regular Insulin)
  • Novolin 70/30 (Isophane/Regular Insulin)
  • Novolin N (Isophane Insulin Suspension)
  
Non-Insulin Dependent Diabetes Mellitus (NIDDM)/Type 2 Diabetes  
Biguanides/Insulin Stimulating Agents
Therapeutics that control high blood sugar by stimulating the release of insulin as well as decreasing the production of glucose in the liver.

Buyer Products:

  • Prandin/Metformin Fixed Combo (Repaglinide/Metformin)
  
Glucagon-Like Peptide-1 Receptor Agonists (GLP-1 Receptor Agonists)
Therapeutics that treat non-insulin dependent diabetes by stimulating the Glucagon-Like Peptide (GLP) receptor. GLP regulates gastric emptying, insulin secretion, food intake, and glucagon secretion.

Buyer Products:

  • Liraglutide (NN 2211)
  
Insulin Stimulating Agents (Non-Sulfonylureas)
Therapeutics that treat non-insulin dependent diabetes by stimulating the secretion of insulin.

Buyer Products:

  • Prandin (Repaglinide)
  
Insulin Therapy  
Human Analogs
Insulin supplements that resemble natural human insulin.

Buyer Products:

  • NovoMix 50 (Insulin Aspart Mixture)
  • NovoLog Mix 70/30 (Insulin Aspart)
  • Levemir (Insulin Detemir)
  • NovoLog (Insulin Aspart)
  • Velosulin BR (Human Insulin)
  • NovoMix 70 (Insulin Aspart Mixture)
  
Recombinant Human
Therapeutics that are derived from human genes.

Buyer Products:

  • Novolin R (Regular Insulin)
  • AERx iDMS/NN 1998 (Aerosolized Insulin)
  • Novolin N (Isophane Insulin Suspension)
  • Novolin 70/30 (Isophane/Regular Insulin)
  
General Hormone Treatments  
Estrogens
Therapeutics that treat hormonal disorders by providing estrogen.

Buyer Products:

  • Vagifem (Estradiol Vaginal Tablets, USP)
  
Hypoglycemia  
Gluconeogenic Agents/Glycogenolytic Agents
Therapeutics that treat hypoglycemia by enabling the release of glucose from the liver.

Buyer Products:

  • GlucaGen (Glucagon)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of endocrinology disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • NN5401
  • NN 344 (Long-Acting Insulin Analog)
  
Pituitary Gland Disorders  
Severe Short Stature  
Growth Hormones
Therapeutics similar to pituitary hormones, which stimulate body growth and development.

Buyer Products:

  • Norditropin (r-Somatropin)
  
Reproductive Disorders  
Menopause  
Estrogens/Progestins
Therapeutics that are mixture of two female sex hormones that are important for the development of the female reproductive system.

Buyer Products:

  • Activelle (Estradiol/Norethindrone Acetate)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of endocrinology disorders in very early stages of research where no human subject is involved.

Target Products:

  • NRP409
  
Hematology  
Hemophilia  
Hemophilia A  
Clotting Agents
Therapeutics that aid in blood coagulation.

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  
Hemophilia B  
Clotting Agents
Therapeutics that assist in blood coagulation.

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of hematological disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • rFVIIa Analog(Recombinant Factor VII Analog)
  
Serum Factor Disorders  
Hypoglycemia  
Gluconeogenic Agents/Glycogenolytic Agents
Therapeutics that treat low blood sugar by promoting the breakdown of glycogen into glucose in the liver as well as the synthesis of glucose from non-carbohydrate precursors.

Buyer Products:

  • GlucaGen (Glucagon)
  
Musculoskeletal System  
Skeletal Disorders  
Bone Disorders  
Osteoporosis  
Hormonal Treatments  
Estrogens/Progestins
Therapeutics that treat osteoporosis by providing female hormones which results in a decrease in the rate of bone loss due to osteoclasts.

Buyer Products:

  • Activelle (Estradiol/Norethindrone Acetate)
  
Neurology
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of nervous system and mental disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  
Psychiatric Disorders  
Childhood/Adolescent Disorders  
Attention Deficit Disorder (ADD)/Attention Deficit Hyperactivity Disorder (ADHD)  
Sympathomimetic Agents
Therapeutic members of the amphetamine group of sympathomimetic amines that treat the disorder involving hyperactivity in children due to an abnormally short attention span.

Target Products:

  • Vyvanse (Lisdexamfetamine Dimesylate)/Formerly NRP104
  
Obstetrics/Gynecology  
Female Genital Disorders  
Vulvovaginal  
Atrophy  
Hormonal Treatments  
Estrogens/Progestins
Therapeutics that treat disorders characterized by thinning of the vaginal walls with a combination of the female sex hormones estrogen and progestin.

Buyer Products:

  • Activelle (Estradiol/Norethindrone Acetate)
  
Oncology  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment and management of cancer in early stages of clinical research where human subject is involved.

Buyer Products:

  • Anti-KIR (IgG4 Monoclonal Antibody)
  • Interleukin 21 (IL-21)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment and management of cancer and are currently in an early research or preclinical stage of development.

Buyer Products:

  • Interleukin 21 (IL-21)
  
Pain Management  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of pain in early stages of clinical research where human subject is involved.

Target Products:

  • NRP290 (Hydrocodone Prodrug)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of pain in very early stages of research where no human subject is involved.

Target Products:

  • NRP388
  • NRP369 (Oxycodone Prodrug)
  
Surgery  
General  
Complications  
Hemorrhage  
Coagulating Agents (Coagulants)
Therapeutics that treat bleeding during a surgical procedure by promoting blood clotting.

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of surgical complications in early stages of clinical research where human subject is involved.

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  • rFactor XIII
  
Transplantation  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the management of rejection and infection in early stages of clinical research where human subject is involved.

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  
Urology  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of urological disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Norditropin (r-Somatropin)
  
Weight Management  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of weight disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Liraglutide (NN 2211)
  
Wound Management  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of wounds in early stages of clinical research where human subject is involved.

Buyer Products:

  • Norditropin (r-Somatropin)
  
Medical Devices  
Drug Delivery  
Percutaneous (Subcutaneous/Intramuscular/Intravenous)  
Automatic Injectors
Pen-shaped medical devices used to contain and deliver liquid medications to a specified needle depth with a press of a button.

Buyer Products:

  • NovoLog FlexPen/70/30 Mix FlexPen
  • PenMate Insulin Injection System
  • NovoPen Delivery System Series
  • Novolin InnoLet
  • Norditropin NordiFlex
  • Levemir Flexpen
  • Novolin Prefilled
  • NordiPen System
  
Needleless  
Disposable  
Hypodermic
Disposable needles for use below the skin.

Buyer Products:

  • NovoFine Insulin Series
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Eli Lilly & Co. n/a 62,916.207 23.63 16.66 4.01 3.60 5.73
Shire plc (ADR) n/a 10,722.895 38.54 30.08 5.97 4.86 11.38
Buyer
  sanofi-aventis (ADR) n/a 119,575.855 22.32 12.94 3.03 3.18 n/a
Genentech, Inc. n/a 87,827.456 41.56 31.71 9.46 7.46 11.43
Eli Lilly & Co. n/a 62,916.207 23.63 16.66 4.01 3.60 5.73
BASF AG (ADR) n/a 58,207.724 13.62 12.84 0.83 0.87 4.53
Akzo Nobel N.V. (ADR) n/a 22,122.858 13.37 19.18 1.21 1.40 4.87
Merck Serono S.A. (ADR) n/a 13,761.190 20.12 19.56 5.03 4.96 5.69
Target
  Johnson & Johnson n/a 178,185.093 16.12 15.74 3.34 3.00 16.76
GlaxoSmithKline plc (ADR) n/a 161,058.996 15.12 15.20 3.51 3.60 15.27
Novartis AG (ADR) n/a 130,937.348 24.87 16.90 3.56 3.30 6.59
Abbott Laboratories n/a 87,986.029 51.25 20.29 3.91 3.87 n/a
Tyco International Ltd. n/a 63,567.884 16.04 16.08 1.52 1.46 11.09
Eli Lilly & Co. n/a 62,916.207 23.63 16.66 4.01 3.60 5.73
Shire plc (ADR) n/a 10,722.895 38.54 30.08 5.97 4.86 11.38
Endo Pharmaceuticals n/a 4,079.028 29.59 18.17 4.48 3.93 5.22
Watson Pharmaceuticals, Inc. n/a 2,734.972 n/a 21.87 1.38 1.07 257.36
Ligand Pharmaceuticals Inc. n/a 751.502 n/a -37.20 5.33 27.49 n/a
Noven Pharmaceuticals, Inc. n/a 591.006 36.97 21.12 9.74 7.12 3.39
Pain Therapeutics, Inc. n/a 356.877 57.67 161.00 6.62 5.98 4.58
Nastech Pharmaceutical n/a 280.190 n/a -8.46 9.83 9.84 6.47
Acura Pharmaceuticals, Inc. n/a 256.652 n/a n/a n/a n/a n/a
Amarin Corporation plc (ADR) n/a 225.804 n/a -8.59 448.00 n/a 7.82
UCB S.A. n/a n/a n/a n/a n/a n/a n/a
Purdue Pharma L.P. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Medarex, Inc. n/a 1,667.356 n/a -9.19 34.28 36.24 2.60
ZymoGenetics, Inc. n/a 1,035.261 n/a -6.96 40.79 32.23 4.39
Sangamo Biosciences, Inc. n/a 236.236 n/a -11.82 29.97 23.75 4.85
Neose Technologies, Inc. n/a 139.777 n/a n/a 22.60 n/a 9.06
Aradigm Corporation n/a 72.828 n/a -3.29 15.13 24.28 3.69
Ciphergen Biosystems n/a 51.352 n/a n/a 2.82 4.39 n/a
Target
  Albany Molecular Research, Inc. n/a 314.068 143.99 32.03 1.75 1.63 1.12

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Cephalon, Inc. n/a 4,983.348 34.41 20.73 2.82 2.84 101.17

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Pfizer Inc. n/a 182,865.248 9.46 11.75 3.78 3.81 7.00
Cephalon, Inc. n/a 4,983.348 34.41 20.73 2.82 2.84 101.17
Dr. Reddy's Laboratories Limited (ADR) n/a 2,569.267 19.04 15.51 1.97 1.89 n/a
Medarex, Inc. n/a 1,667.356 n/a -9.19 34.28 36.24 2.60
Crucell N.V. (ADR) n/a 1,529.609 n/a -135.42 14.99 5.23 4.01
ZymoGenetics, Inc. n/a 1,035.261 n/a -6.96 40.79 32.23 4.39
Enzon Pharmaceuticals, Inc. n/a 362.040 16.99 -102.75 1.95 1.97 n/a
Nastech Pharmaceutical n/a 280.190 n/a -8.46 9.83 9.84 6.47
Sangamo Biosciences, Inc. n/a 236.236 n/a -11.82 29.97 23.75 4.85
Neose Technologies, Inc. n/a 139.777 n/a n/a 22.60 n/a 9.06
Aradigm Corporation n/a 72.828 n/a -3.29 15.13 24.28 3.69
G2 Therapies Limited n/a n/a n/a n/a n/a n/a n/a
Argos Therapeutics, Inc. n/a n/a n/a n/a n/a n/a n/a
Target
  Shire plc (ADR) n/a 10,722.895 38.54 30.08 5.97 4.86 11.38
Albany Molecular Research, Inc. n/a 314.068 143.99 32.03 1.75 1.63 1.12
DepoMed, Inc. n/a 152.370 n/a -4.07 15.95 5.89 n/a
University Of California, San Francisco n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 6,951.8 34.3 6,986.2
Other Revenue 0.0 0.0 0.0
Total Revenue 6,951.8 34.3 6,986.2
Cost of Revenue 1,719.9 0.0 1,719.9
SG&A Expense 2,511.2 49.0 2,560.2
Depreciation & Amortization 0.0 0.2 0.2
Research & Development 1,133.3 41.0 1,174.3
Interest Expense 0.0 0.0 0.0
Other Operating Expense -48.8 0.0 -48.8
Unusual Expense (Income) 0.0 4.3 4.3
Total Expenses 5,315.6 94.4 5,409.9
Operating Income 1,636.3 -60.0 1,576.2
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 8.1 3.6 11.7
Gain/Loss On Sale Of Assets 0.0 -0.0 -0.0
Other, Net 0.0 0.0 0.0
Income Before Taxes 1,644.3 -56.4 1,587.9
Income Taxes 486.6 0.3 486.9
Income After Taxes 1,157.7 -56.7 1,101.0
Net Income - Excl. Xord. Items 1,157.7 -56.7 1,101.0
Accounting Change 0.0 -0.7 -0.7
Net Income - Incl. Xord. Items 1,157.7 -57.4 1,100.3
Income Avail. to Common 1,157.7 -57.4 1,100.3
Share Items
Basic Avg. Shares Outstanding 317.1 37.0 354.1
Basic EPS - Excl. Xord. Items 3.65 n/a 3.11
Basic EPS - Incl. Xord. Items 3.65 n/a 3.11
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 319.2 37.0 356.2
F.D. EPS - Excl. Xord. Items 3.63 n/a 3.09
F.D. EPS - Incl. Xord. Items 3.63 n/a 3.09
Dividends Per Common Share 1.26 0.00 1.26
Balance Sheet
Assets
Cash and Equivalents 586.8 87.0 673.8
ST Investments 328.9 60.0 388.9
Accounts Receivable 1,315.6 0.2 1,315.8
Inventory 1,507.3 0.0 1,507.3
Prepayments and Advances 0.0 1.1 1.1
Other Current Assets 0.0 0.0 0.0
Current Assets 3,738.5 148.3 3,886.8
PPE 0.0 2.9 2.9
Accum D&A 0.0 -0.7 -0.7
PPE, Net 3,651.5 2.2 3,653.7
Goodwill & Intangibles 114.7 0.0 114.7
Long Term Investments 171.7 0.0 171.7
Other Assets 0.0 0.0 0.0
Other LT Assets 342.9 1.1 344.0
Total Assets 8,019.3 151.5 8,170.8
Liabilities
Accounts Payable 307.2 6.0 313.2
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 0.0 13.8 13.8
ST Debt 60.6 0.0 60.6
Curr Port of LTD & Cap Lease Oblg 0.0 137.8 137.8
Other (Current) Liabilities 1,454.7 9.6 1,464.3
Current Liab. 1,822.5 167.2 1,989.7
LT Debt 210.7 0.0 210.7
Capitalized Lease Obligations 0.0 0.0 0.0
Total LT Debt 210.7 0.0 210.7
Deferred Taxes 358.5 0.0 358.5
Other LT Liab. 222.7 94.1 316.7
Total Liabilities 2,614.4 261.2 2,875.6
Shareholders Equity
Common Stock 120.9 0.0 121.0
Additional Paid in Capital 0.0 17.5 17.5
Retained Earnings 5,169.5 -127.3 5,042.2
Treasure Stock -7.0 0.0 -7.0
Other Equity 121.5 0.0 121.5
Total Equity 5,404.9 -109.7 5,295.2
Total Liab. & Equity 8,019.3 151.5 8,170.8
Shares Outstanding 337.0 37.0 373.9
Cash Flow
Operating Cash Flow
CF Net Income 1,157.7 -57.4 1,100.3
CF Depreciation 0.0 0.2 0.2
CF Deferred Taxes 0.0 0.0 0.0
Other Non-Cash Items 1,030.0 42.7 1,072.6
Change in Working Capital -799.2 30.5 -768.7
Total Cash From Operating Activities 1,388.5 15.9 1,404.4
Investing Cash Flow (not calculated)
Capital Expenditures -595.2 -2.1 -597.2
Other Investing Cash Flows 143.5 -10.8 132.8
Total Cash From Investing Activities -451.6 -12.8 -464.4
Financing Cash Flow (not calculated)
Dividends Paid 0.0 0.0 0.0
Purchase Or Sale of Stock 0.0 31.7 31.7
Purchase and Retirement of Debt 0.0 89.7 89.7
Other Financing Cash Flow -853.8 -41.0 -894.8
Total Cash From Financing Activities -853.8 80.4 -773.4
Exchange Rate Effects 7.0 0.0 7.0
Net Change in Cash 90.1 83.5 173.6
Cash Taxes Paid 630.5 0.0 630.5
Cash Interest Paid 0.0 0.0 0.0