Eli Lilly Files Q2 2024 10-Q, Details Debt

TL;DR

LLY's Q2 10-Q is in, showing solid financials and various debt notes maturing through 2061. Looks good.

AI Summary

Eli Lilly and Company (LLY) filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position, including various debt instruments such as A718 Notes due June 1, 2025, and A1.625 Notes due June 2, 2026. The company's fiscal year ends on December 31st, and this report covers the second quarter of 2024.

Why It Matters

This filing provides investors with a detailed look at Eli Lilly's financial health and debt obligations as of the second quarter of 2024, crucial for understanding the company's financial stability and future investment potential.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant new risks.

Key Numbers

• 20240630 — Period End Date (This is the end date for the reporting period covered by the 10-Q.)
• 20240808 — Filing Date (This is the date the 10-Q was officially filed with the SEC.)

Key Players & Entities

• ELI LILLY & Co (company) — Filer
• 0000059478 (company) — Central Index Key
• 20240630 (date) — Period of Report
• 20240808 (date) — Filed as of Date
• A718 Notes due June 1, 2025 (dollar_amount) — Debt Instrument
• A1.625 Notes due June 2, 2026 (dollar_amount) — Debt Instrument

FAQ

Filing Documents

• lly-20240630.htm (10-Q) — 2069KB
• lly-06302024x10qxexhibit101.htm (EX-10.1) — 192KB
• lly-06302024x10qxexhibit311.htm (EX-31.1) — 10KB
• lly-06302024x10qxexhibit312.htm (EX-31.2) — 10KB
• lly-06302024x10qxexhibit32.htm (EX-32) — 7KB
• 0000059478-24-000187.txt ( ) — 10890KB
• lly-20240630.xsd (EX-101.SCH) — 46KB
• lly-20240630_cal.xml (EX-101.CAL) — 72KB
• lly-20240630_def.xml (EX-101.DEF) — 254KB
• lly-20240630_lab.xml (EX-101.LAB) — 630KB
• lly-20240630_pre.xml (EX-101.PRE) — 439KB
• lly-20240630_htm.xml (XML) — 2511KB

Financial Information

PART I. Financial Information 5 Item 1.

Financial Statements

Financial Statements 5 Consolidated Condensed Statements of Operations 5 Consolidated Condensed Statements of Comprehensive Income 6 Consolidated Condensed Balance Sheets 7 Consolidated Condensed Statements of Shareholders' Equity 8 Consolidated Condensed Statements of Cash Flows 10 Notes to Consolidated Condensed Financial Statements 11 Item 2.

Management's Discussion and Analysis of Results of Operations and Financial Condition

Management's Discussion and Analysis of Results of Operations and Financial Condition 35 Executive Overview 35 Results of Operations 41 Financial Condition and Liquidity 45 Critical Accounting Estimates 46 Available Information on our Website 46 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47 Item 4.

Controls and Procedures

Controls and Procedures 47

Other Information

PART II. Other Information 48 Item 1.

Legal Proceedings

Legal Proceedings 48 Item 1A.

Risk Factors

Risk Factors 48 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 5. Other Information 48 Item 6. Exhibits 49

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q and our other publicly available documents include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (Exchange Act), and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, and generally can be identified by the use of words such as "may," "could," "aim," "seek," "believe," "will," "expect," "project," "estimate," "intend," "target," "anticipate," "plan," "continue," or similar expressions or future or conditional verbs. Forward-looking statements inherently involve many risks and uncertainties that could cause actual results to differ from those expressed in forward-looking statements. Forward-looking statements are based on management's current plans and expectations, expressed in good faith and believed to have a reasonable basis. However, we can give no assurance that any expectation or belief will result or will be achieved or accomplished. Investors therefore should not place undue reliance on forward-looking statements. The following include some but not all of the factors that could cause actual results or events to differ from those anticipated: the significant costs and uncertainties in the pharmaceutical research and development process, including with respect to the timing and process of obtaining regulatory approvals; the impact and uncertain outcome of acquisitions and business development transactions and related costs; intense competition affecting our products, pipeline, or industry; market uptake of launched products and indications; continued pricing pressures and the impact of actions of governmental and private payers affecting pricing of, reimbursement for, and patient access to pharmaceuticals, or reporting obligations re

Financial Information

PART I. Financial Information

Financial Statements

Item 1. Financial Statements Consolidated Condensed Statements of Operations (Unaudited) ELI LILLY AND COMPANY AND SUBSIDIARIES (Dollars and shares in millions, except per-share data) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenue (Note 2) $ 11,302.8 $ 8,312.1 $ 20,070.8 $ 15,272.1 Costs, expenses, and other: Cost of sales 2,170.2 1,807.4 3,843.7 3,434.1 Research and development 2,711.2 2,356.5 5,234.0 4,341.6 Marketing, selling, and administrative 2,117.3 1,925.4 4,069.5 3,674.6 Acquired in-process research and development (Note 3) 154.3 97.1 264.8 202.1 Asset impairment, restructuring, and other special charges (Note 5) 435.0 — 435.0 — Other–net, (income) expense (Note 12) 197.6 36.8 170.5 1.1 7,785.6 6,223.2 14,017.5 11,653.5 Income before income taxes 3,517.2 2,088.9 6,053.3 3,618.6 Income taxes (Note 8) 550.2 325.7 843.4 510.5 Net income $ 2,967.0 $ 1,763.2 $ 5,209.9 $ 3,108.1 Earnings per share: Basic $ 3.29 $ 1.96 $ 5.78 $ 3.45 Diluted $ 3.28 $ 1.95 $ 5.76 $ 3.44 Shares used in calculation of earnings per share: Basic 900.9 899.7 900.8 900.3 Diluted 904.2 902.7 904.0 903.0 See notes to consolidated condensed financial statements. 5 Consolidated Condensed Statements of Comprehensive Income (Unaudited) ELI LILLY AND COMPANY AND SUBSIDIARIES (Dollars in millions) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net income $ 2,967.0 $ 1,763.2 $ 5,209.9 $ 3,108.1 Other comprehensive income (loss), net of tax (Note 11) ( 79.0 ) ( 11.4 ) ( 51.5 ) 55.9 Comprehensive income $ 2,888.0 $ 1,751.8 $ 5,158.4 $ 3,164.0 See notes to consolidated condensed financial statements. 6 Consolidated Condensed Balance Sheets ELI LILLY AND COMPANY AND SUBSIDIARIES (Dollars in millions) June 30, 2024 December 31, 2023 Assets (Unaudited) Current Assets Cash and cash equivalents (Note 7) $ 3,223.6 $ 2,818.6 Short-term investments (Note 7) 140.4 109.1 Accounts receivable,

View Full Filing

View this 10-Q filing on SEC EDGAR